Revenue management

Revenue management is like when you play with your toys and you want to make sure you use them in the best way possible. A store or hotel also wants to use all of their things in the best way possible so they can make more money.

So, they use a special system to figure out how much they should charge for things like hotel rooms or clothes. They look at things like how many people want to stay in the hotel, what time of year it is, and if there are any big events happening nearby.

This helps them figure out the best prices to charge for things so they can make the most money. Sometimes, if there are lots of people who want to stay at the hotel, they might charge more money. Other times, if there aren't many people coming, they might lower the prices to get more people to stay there.

Overall, revenue management helps businesses make smart decisions about money so they can keep making more and more of it!