5. Who should assess if a tourism business revenue generation model is stable?
Contents
- Introduction
- 1. Creating Stable Revenue Generation via a Diverse Product Offering
- 2. Creating a Stable Revenue Generation Model via diverse sales channels, customer segments and markets
- 3. The importance of knowing how to engage with diverse sales channels, customer segments and markets when creating a stable revenue generation model
- 4.Building Stable Revenue Generation in a Stepwise Manner
- 5. Who should assess if a tourism business revenue generation model is stable?
- 6. How does the tourism business assess that its revenue generation model is stable?
- Summary Notes and Conclusion
Contents
- Introduction
- 1. Creating Stable Revenue Generation via a Diverse Product Offering
- 2. Creating a Stable Revenue Generation Model via diverse sales channels, customer segments and markets
- 3. The importance of knowing how to engage with diverse sales channels, customer segments and markets when creating a stable revenue generation model
- 4.Building Stable Revenue Generation in a Stepwise Manner
- 5. Who should assess if a tourism business revenue generation model is stable?
- 6. How does the tourism business assess that its revenue generation model is stable?
- Summary Notes and Conclusion
5. Who should assess if a tourism business revenue generation model is stable?
A tourism business should assess the stability of its revenue generation model from a commercial and financial perspective.
The commercial employee responsible for growing and converting revenue must be encouraged to do this via the principle of stable revenue generation by
- blending diverse sales channels, markets and customer segments
- across three tiers of base, adhoc and individual booking business
Working with the commercial employee, the employee responsible for finance in the tourism business should ensure that
- budgets, forecasts and targets are set to support stable revenue generation
- the composition of revenue generated on a weekly, monthly and annual basis is assessed to ensure it is stable and can withstand any potential volatility