Modern business, especially that predominantly determined by external factors, as is the case with hotel industry, is confronted with continuous change and challenges. Successful management and fulfillment of the basic business goal, i.e. the achievement of the best possible business result, which in financial terms means the achievement of the highest possible profit, demands knowing all the important factors and all of the methods, techniques and models of impact on them. Since the profit is the resultant of the achieved revenue and expenditures, its size can be influenced by increasing the former, i.e. decreasing the latter. In traditional business, special attention was attributed to cost management so that cost management was viewed as the basic and best way of implementing a good quality financial business result. However, even though an active policy in managing costs continues to be an inevitable part of modern business, in the past forty years revenue management has been developed as a new group of strategies, methods, instruments and techniques enabling profit maximization. After successful application in air industry, the revenue management concept was soon accepted also in the hotel industry and later also in other service industries. In the hotel industry, the revenue management can be defined as the sale of the right accommodation unit to the right guest at the right price and at the right moment. The ‘right’ concept in this definition means the achievement of the maximum revenue for the hospitality provider in providing the guest with the maximum value. This sophisticated way of managing the offer and demand based on analyses and forecasts, segmenting the guests into different price sensitive groups and forming different price structures, attempts to maximize the revenue achieved with limited capacities. It was precisely the revenue management that has been attributed importance in modern hotel industry and that has been the basic motive for analyzing the topic of this paper. The goal was the presentation of the revenue management model in the business Valamar Riviera system in order to be able, based on good practice of the system, to draw conclusions on the optimum action that can be the signpost for other hotel business systems as well. Namely, the revenue management is a complex concept defining and directing the business strategy and, if properly implemented, ensuring a competitive advantage on the contemporary market.