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Revenue management (RM) and customer relationship management (CRM) both maximize profitability.
According to Gavin Hawthorn, head of CRM, Whitbread Hotels and Restaurants, the integration of Revenue management (RM) and customer relationship management (CRM) is potentially one of the most powerful integrations service businesses in travel could work towards. This m-travel.com article also suggests that CRM needs to be viewed as an additional analytical mechanism that is considered as one more execution layer of RM.
"Specialists in the arena propagate that the solution to integrate the RM and CRM teams can lie in two areas: Integration of a jointly accepted, fact-based methodology that confirms that current profitability maximization is substandard to optimizing long-term profitability. Certainly not an easy task but such clarity is needed. Until such time, optimization of current profitability is the more tangible option; and updating the RM tools, and more specifically, evaluation of customer differentiation to the allocation process. Again, not an easy task but a necessity."
Read the Full "Integrating RM and CRM in a Mutually Beneficial Relationship" Story at m-travel.com
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