Hotel Business

SEPTEMBER 15, 2023

Eister There are many myths about revenue management, but there are five we hear most often. Myth #1: Revenue management is only essential when business is booming. Revenue management is a fundamental part of business, especially in such a dynamic industry as hospitality. By Craig V.

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Xotels

APRIL 3, 2024

XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.

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SiteMinder

JULY 11, 2024

The partnership, which comes amid a summer that is expected to see international travellers to Spain grow by 8% from last year’s record season, will enhance the powerhouse hotel brand’s financial performance and streamline its operations.

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Travelboom Marketing

MAY 24, 2024

Hotel revenue management strategies make the most of hospitality budgets by connecting the right guests with the best offer at the optimal time. Read on for a list of proven hotel revenue management strategies that work when you need to turn a profit.

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Catala Consulting

OCTOBER 7, 2024

One key strategy emerging as a game-changer is data-driven revenue management. This approach combines advanced algorithms with real-time data analysis to set optimal pricing, increase efficiency, and maximise revenue potential. Teams would spend hours calculating room rates, tracking competitors, and forecasting demand.

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Catala Consulting

JANUARY 18, 2024

In the dynamic world of hospitality, the UK market stands out as a beacon of innovation and adaptation, particularly in the realm of hotel revenue management. This article explores the top trends in hotel revenue management, yield management, and revenue management in the UK, offering insights and strategies for hotel professionals.

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Hotel Management

JUNE 22, 2023

Ramzy Fenianos The outlook for investment in Australasia is forecast to be relatively modest for the year ahead (2.9%), which is likely to result in significant challenges for hotel developers in the region.

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Hotel Business

JULY 12, 2023

The all-too-common assumption among many hoteliers is that limited-service hotels don’t benefit from revenue management technology and practices when compared to full-service and resort hotels. Part of the problem, from the operators’ perspective, is the viability of revenue management technology today versus even a few years ago.

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STAAH

MAY 21, 2024

Decision: Should we increase or hold the retail pricing on online travel agents (OTAs) and the brand website? If demand is high and competition is priced higher, increasing the rate could maximize revenue. Forecast Accurately: Use forecasting to inform pricing, yield management , and channel management decisions.

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SiteMinder

JUNE 26, 2024

Revenue optimization recognizes and responds to opportunities to not only sell more, but sell more profitably too by using data, analytics, reports to make strategic decisions. Included in this will be key metrics, forecasting models, and trending insights. There’s a full range of advantages for hotels and hospitality businesses.

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Hotel Business

MARCH 7, 2024

IDeaS , a SAS company, has introduced G3 RMS Portfolio Navigator for multi-property revenue management automation. “The addition of Portfolio Navigator to our flagship product, G3 RMS, is a game changer for multi-property revenue management. .

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Hotel Business

NOVEMBER 14, 2023

Third-party management company Resolute Road Hospitality has appointed Andrea Pace-Mickley as senior corporate revenue manager. In her new role, she will lead the company’s revenue and commercial strategy, overseeing all revenue management, pricing, analytics, forecasting and channel distribution initiatives.

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SiteMinder

OCTOBER 18, 2023

Learn more Advantages of a competitor based pricing strategy Why should revenue managers monitor their competitors’ prices? By analysing historical data, hotels can forecast demand, ensuring they’re always ahead of the curve. Understand their promotional strategies, guest reviews, and overall brand positioning.

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Hotel Financial Coach Blog

JULY 28, 2024

With my workshops and speaking, I often do an exercise where I challenge each leader to find a minimum of $250 in next month’s forecast. It can also be a source of new revenue. The session yielded some interesting ideas, but one idea that the housekeeper and revenue manager came up with was a real game changer.

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Hotel Business

MARCH 6, 2023

Revenue management software (RMS) provider Duetto has unveiled a brand refresh that incorporates the mathematical “greater than” symbol and a new color palette. One that has all the hallmarks of our past and represents our promise to our hotel clients: Duetto delivers greater revenue.”

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Hotel Operations

SEPTEMBER 30, 2024

Creating a budget involves having each department leader work out their resources, payroll, expenses, and revenues. The budgeting process typically starts by asking the revenue manager what they think room revenue will be in the coming year,” Lund said. Hotel budgets are used throughout the year with a rolling forecast.

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Hotel Business

FEBRUARY 26, 2024

Otelier brings together the best features and functionality from MDO, Datavision, inTouch, HelloGM, Focal Revenue Solutions and Broadvine to deliver a unified platform that meets the evolving needs of today’s hotelier, according to the company.

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Hotel Business

FEBRUARY 7, 2024

Duetto , provider of revenue management systems, has acquired Micerate, a provider of dynamic pricing and online booking tools tailored for meetings and event spaces. Our customers seek three essential elements from Duetto: enhanced revenue generation, precise forecasting and operational efficiencies—Micerate delivers on all fronts.”

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Hotel Financial Coach Blog

JULY 28, 2024

With my workshops and speaking, I often do an exercise where I challenge each leader to find a minimum of $250 in next month’s forecast. It can also be a source of new revenue. The session yielded some interesting ideas, but one idea that the housekeeper and revenue manager came up with was a real game changer.

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Amadeus Hospitality

SEPTEMBER 8, 2023

Going beyond the existing integration with iHotelier ®, Amadeus , a global provider of hospitality technology solutions, and BEONx , a leading hospitality revenue management service provider, announce an extension of their partnership to bring comprehensive business intelligence to BEONx customers that subscribe to Demand360®.

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Hotel Business

NOVEMBER 15, 2022

In this newly created position, Volz oversees hotel finance, as well as owner relations, brand partnerships and transitions, while leading Aimbridge Food & Beverage. In this role, he also led key decisions and strategies across revenue management & e-commerce, F&B, rooms, sales & marketing and ancillary departments.

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Hotel Business

NOVEMBER 9, 2023

“Our brand promise has always been to listen to our customers, continually innovate based on the latest technologies and deliver the best customer service in the industry,” said Fitzpatrick. “We have a new name and new capabilities, but our core values remain the same.

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Hotel Business

MARCH 16, 2023

This is especially so for revenue management systems and its impact on the hotelier’s business. A number of major brands have partnered with you for their RMS technology. Automated Configuration enables hoteliers to go from data population to forecasting in as little as one day. How have those rollouts been going?

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Hotel Business

JULY 11, 2024

A Branded Shortcut (coming soon) will provide an on-screen touch-enabled shortcut on Echo Show devices that’s always visible over any screen content. The hotel’s brand will be used in the shortcut to further build affinity with the hotel.

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Inn Quest

AUGUST 8, 2023

This approach not only strengthens the hotel’s brand but also fosters customer loyalty, as guests are more likely to return to a hotel that consistently offers attractive prices and excellent service. Improved Inventory Management: Implementing seasonal pricing allows hotels to manage their inventory more efficiently.

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Hotel Speak

SEPTEMBER 26, 2024

Although global hotel revenue per available room (RevPAR) stayed high during the first half of 2024 – 13.2% Certainly rates and occupancy grew very nicely in 2023, but we reached a plateau where we couldn’t really push rates any further,” Jon Siberry, Group Revenue Manager of Sarova Hotels explained.

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Hotel Business

OCTOBER 11, 2024

Hospitality America is investing in its technology infrastructure, empowering leaders at both the property and corporate levels with real-time insights, actionable data and robust forecasting capabilities. Agility in decision-making is crucial in today’s fast-paced hospitality landscape,” Cargen said.

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Hotelogix

AUGUST 6, 2024

Here's a detailed guide on transforming your hotel's revenue management to focus on profit maximization. Maximizing Hotel Profit As a hotelier, you must adopt a holistic strategy that considers all revenue streams and cost factors to maximize profit. It helps in brand building and loyalty creation.

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SiteMinder

OCTOBER 15, 2023

Improve forecasting – Compare historical data with current market conditions to get an idea of what you can set your rates at in the future. Brand perception – Does dropping your prices too low devalue your brand, and does pushing them too high alienate some of your loyal guests?

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TravelNet

JUNE 26, 2023

Revenue management Implementing revenue management strategies is essential for maximizing revenue. Dynamic pricing and revenue management go hand in hand, and together help you grow revenue. Don’t leave revenue on the table – especially during high revenue periods!

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SiteMinder

SEPTEMBER 18, 2024

“Operating hotels in one of the most saturated tourism markets in the Southeast means that we must always continue evolving and investing in our growth both as a brand and with our offerings to guests,” she explained. “As AI has already started to benefit our revenue management through suggested rate optimizations and trend forecasting.

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Hotel Business

MARCH 7, 2023

The result is strong forward investment in the tech stack, by brands, owners, investors, technology leaders and start-ups. Some of the focuses are automation and creating new opportunities for increased pricing power, more ancillary revenue uptake for hotels and an creating even stronger guest experience.

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SiteMinder

DECEMBER 17, 2024

Learn more Amadeus GDS meaning for hotel distribution and revenue management By utilising Amadeus GDS and other GDS partnerships, your hotel can enjoy a significant boost to both bookings and profit. And how do you choose between Amadeus and other big GDS brands such as Sabre, Galileo, Apollo, or Travelport?

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SiteMinder

OCTOBER 11, 2022

If you’re new to the hotel industry, opening a new property, or expanding your brand, this blog will help you understand all the key departments in a hotel and their responsibilities, as well as the various job positions in the hotel industry. However, some key roles within a hotel management department can include: Hotel general manager.

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Catala Consulting

NOVEMBER 3, 2024

Here are a few key areas where they offer significant value: Revenue Management : Understanding the intricacies of demand forecasting, pricing strategies, and inventory control can significantly boost revenue. A consultant can create a tailored revenue strategy that optimizes pricing for maximum profit.

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Inn Quest

MAY 11, 2023

Best Hotel Pricing Strategies in 2023 Dynamic Pricing: Dynamic pricing is a revenue management strategy that allows hotels to adjust their room prices in response to fluctuations in market demand. By using this tactic, hotels can increase their revenue during busy times, while continuing to attract guests during the off-season.

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SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. Loyal customers spend 22.4%

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