The Spanish translation of the term Revenue Management is Gestión de Ingresos. It is an expression used in the world of property sales and rentals to refer to the administration necessary to ensure that the transaction reaches the highest level of optimization in all the factors involved. In other words, the right property is sold or rented to the right client at the right price, at the right time and through the right channel.
The type of property may include several different things, such as a hotel room, an airline ticket or a car.
In this case, when we talk about property, we refer to apartments or houses that are rented for short stays for tourism, recreation, work, or even for health treatments or errands.
The objective here is to maximize the revenue generated by a temporary rental property through the best possible management of price and availability.
Every property that is destined for temporary rental requires revenue management work in order to be managed in an optimal way. Depending on the size of the business and the availability of time of those who manage it, this work can be done by the same person who owns the property, by the person or team that groups the management of several properties, or by a specialized company that is outsourced to ensure the best revenue management.
When it comes to properties located in Spain, ListingOK has been a benchmark in the world of revenue management since 2015, offering all the services needed to increase rental profits with professional price management.
At this point it is important to take a brief tour of the key notions within revenue management in the area of temporary rental of apartments and houses in order to understand what is meant by each term used in this world, which may differ from the meaning assigned in other areas.
We can also take a closer look at the functions of Revenue Managers to get an even more complete picture of their scope.
