At last! Now it seems that is official... more information...
Segments Accounting it’s a must for all Revenue Managers!!!
Usually Accountancy Cost assigns cost to departments (Rooms, Restaurant, Bar....) in order to know the breakeven point of each department and its profitability.
As you know, Yield / Revenue Management also means to choose the most profitable distribution channel AND the most profitable segment. So, I always propose to combine this approach with Accountancy Segments that follows the same methodology but change departments for segments.
See the attached image to get a visual idea:
I believe that Revenue Management is a powerful combination of Strategic Marketing (Segmentation, Positioning, 4Ps....), Strategic Finance (USAH / USALI; Accountancy Segments...) and Web Engineering (Web Booking Engines, Syndication, Social Networking Sites, Location Based Services....)
At first glance you can think that it’s a simple task, but very soon you will realize that you will need a good framework in tourism (Touristology), the capacity to coordinate different departments (Booking, Marketing, Accountancy...) the attitude of always get update information transform it into knowledge and then the courage to make your own decisions. Then you will realize that you will need a... GOOD TOURISTOLOGIST!!!!
