1) Forecast :- Forecast allows you to stay ahead, and start preparing for the future in present, proper forecasting is a must for every Revenue Managers in order to make the optimum utilization of room inventory.
2) Calendar :- Focus on special events, festivals, or long weekends, because this is the time where you can drive more business organically, the best one can do is create an MLOS for 2 nights at 5% cheaper than the actual rate, that will add as one extra room night, resulting in generating more revenue. Hence always keep an eye on your calendar.
3) Reporting :- Prepare a format where you can check and track your performance, sit with the accounts team and get an idea of the expenses which is occurring for 1 room and accordingly formulate your rates, this will ensure that you always maintain a good ARR.
4) Review :- Taking regular reviews from the guests will ensure that your hotel will get good bookings, the guest always goes with the hotel that had good recent reviews, keep a track of how many reviews you are getting in comparison to the bookings you are receiving, have a meeting with your Front office team and make them understand the importance of it.