How does revenue management work in the hotel industry? ?

hi, Revenue management in the hotel industry involves setting the right room price at the right time to maximize profit. Hotels analyze demand, seasonality, competitor pricing, and booking patterns to adjust rates and availability. Techniques like dynamic pricing, forecasting, and inventory control help increase occupancy and revenue. It ensures that rooms are sold efficiently without underpricing or overpricing. At Lovely Professional University (LPU), students learn revenue management concepts through case studies and practical training. The program equips them with analytical and decision-making skills needed to optimize hotel performance in the competitive hospitality market.