eZee Absolute

MAY 13, 2024

Well, the answer lies in how well you’re using your Hotel Revenue Management System (RMS) reports. But with so many reports available, how do you find the ones essential for maximizing your hotel’s revenue? And you wonder what you must be doing wrong, right? RMS reports are like secret weapons for hoteliers.

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Revenue Management Revenue Management Forecasting 52

STAAH

APRIL 2, 2024

Effective revenue management provides hoteliers with a clear roadmap for pricing and optimisation, while acting as a gauge to measure success. What is a Revenue Management Solution for Hotels? What is a Revenue Management Solution for Hotels? 2) Real-time data and accurate forecasting.

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Revenue Management Revenue Management Hotels 79

STAAH

APRIL 16, 2024

Hoteliers need to employ smart strategies to optimize revenue and profitability. One of the most powerful tools in their arsenal is a robust Revenue Management Solution (RMS). Forecasting Accuracy: Accurate demand forecasting is crucial for anticipating future demand trends and adjusting pricing strategies accordingly.

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Revenue Management Revenue Management Forecasting 79

Catala Consulting

MAY 17, 2024

Revenue management is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. These frontline employees are instrumental in shaping the guest experience, impacting occupancy rates, and ultimately driving revenue.

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Revenue Management Revenue Management Upsell 52

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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Catala Consulting

JULY 30, 2023

In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Why is Revenue Management Imperative for Resorts?

Revenue Management 52

Revenue Management Revenue Resorts Management 52

Catala Consulting

JANUARY 8, 2024

Introduction Revenue Management Systems (RMS) are the cornerstone of modern hospitality and travel industries. The Beginnings: 1970s and 1980s Origin in Airlines : The concept of Revenue Management originated in the airline industry post-deregulation. They primarily helped in setting room rates and managing reservations.

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Revenue Management Revenue Management Forecasting 52

SiteMinder

JUNE 12, 2024

What is Yield Management? Yield management is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. Think of it as the art behind the science of room supply and 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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Catala Consulting

NOVEMBER 18, 2023

Introduction This new focus acknowledges that while revenue is crucial, it is the profitability that ultimately determines a hotel’s financial health and success. Profitability management encompasses a broader perspective, considering factors like cost control, efficient resource utilization, and value creation for guests.

Revenue Management 52

Revenue Management Revenue Management Hotels 52

STAAH

OCTOBER 25, 2022

From irregular demand patterns to changing distribution mix and a depleted talent, here’s a roundup of challenges faced by revenue managers from India right now. The STAAH team went out to leading revenue managers from India to understand what are the biggest challenges they are facing. Forecasting and budgeting.

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Revenue Management Revenue Management Forecasting 71

Hotel Management

MAY 2, 2023

APAC Revenue Management Summit 2023 – “Unstoppable” May 23 and 24 Are you looking to take your revenue management skills to new heights? Look no further than the APAC Revenue Management Summit , the must-attend conference for hospitality and tourism operators.

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Revenue Revenue Management General Manager Forecasting 130

Little Hotelier

MARCH 25, 2024

What is hotel forecasting? Hotel forecasting, also known as hotel demand forecasting, is a strategy that sees a hotel analyse historical data and trends to make predictions about future demand. Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

SiteMinder

OCTOBER 9, 2022

Whether you are new to the industry or catching up with the fast evolution, this blog will introduce you to the responsibilities of revenue managers and how they can succeed in 2022. What is a revenue manager? A revenue manager is responsible for pricing hotel inventory (rooms) to maximise profit.

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Revenue Management Revenue Management Occupancy 59

Inn Quest

APRIL 3, 2023

As the hospitality industry evolves after the pandemic, it’s more important than ever for hotels to streamline their day-to-day operations to improve efficiency, enhance the guest experience, and increase revenue. Here are some ways to streamline operational tasks for your hotel.

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Operations Revenue Management Revenue Forecasting 88

Mews

MAY 28, 2024

Hotel technology covers the many tools and systems designed to help hotels operate smoothly and meet their goals. These are used daily for the likes of automating operations, revenue management, distribution optimization, data analysis, forecasting, and enhancing the overall guest experience.

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Forecasting Revenue Management Revenue Operations 52

SiteMinder

JUNE 26, 2024

It’s a holistic process that hotels can use to effectively manage pricing, inventory, distribution, customer demand, and more to promote revenue growth. 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.

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Revenue Revenue Management Upsell Global Distribution System 52

Hotelogix

APRIL 22, 2024

Harnessing hotel data is essential for navigating the modern hospitality landscape, enhancing operational efficiency, and tailoring marketing efforts to meet guest preferences better. Importance of Analysing Hotel Data Hotel data encompasses various information, from guest bookings and preferences to revenue figures and occupancy rates.

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Management Average Daily Rate Revenue Management Hotels 52

Hotel Management

JUNE 22, 2023

Opportunities abound in hotel development across the Asia Pacific with many groups reporting strong interest in white-label management and franchising partnerships. As a result, hotel operators need to be innovative and agile in operating and provide owners with the best possible solution to maximise revenue and efficiencies.

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Revenue Management Forecasting Revenue Hotels 130

STAAH

MAY 22, 2024

Revenue management solutions are indispensable tools for hotels seeking to optimize their RevPAR (Revenue per Available Room). By leveraging advanced algorithms and data analytics, these solutions enable hotels to strategically adjust pricing and inventory to maximize revenue. Read in detail here.

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Revenue Revenue Management Management Forecasting 77

Hotelogix

MAY 16, 2024

It's about exceeding them while efficiently managing your operations. Streamline operations with a cloud-based hotel property management system (PMS) Upgrading to a cloud-based Hotel PMS can significantly improve hotel operational efficiency. Top 5 Tips on How to Improve Efficiency in Hotels  1.

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Operations OTA Hotels Revenue 52

Inn Quest

SEPTEMBER 5, 2023

At a glance: What is Hotel Inventory Management? Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Firstly, What is Hotel Inventory Management? Let’s get started!

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Management Overbooking Revenue Hotels 87

Xotels

APRIL 3, 2024

We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.

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Inn Quest

APRIL 5, 2023

Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yield management in hotels, particularly in hotel revenue management. Furthermore, we will provide examples of successful yield management strategies and offer tips on how to implement them in your hotel.

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Yield Management Management Occupancy Revenue 88

STAAH

APRIL 30, 2024

Tech switching in the hotel industry refers to the process of adopting new technologies or upgrading existing systems to improve operational efficiency, enhance guest experiences, and stay competitive. Mobile technology integration: Hotels are increasingly leveraging mobile technology to enhance guest experiences and streamline operations.

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Revenue Management Hotels Operations Forecasting 85

Inn Quest

JANUARY 26, 2023

Several day-to-day operational processes are now automated by hospitality professionals of all levels, including proprietors, operators, top executives, and sales coordinators. Hotel management solutions give hoteliers easy-to-use tools that streamline and automate their operations and improve guest experiences.

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Management Revenue Management Revenue Hotels 54

Hotelogix

FEBRUARY 22, 2024

In the fast-paced world of hospitality, staying ahead with efficient hotel management software is crucial. We understand the importance of streamlined operations, and if you're experiencing challenges in managing your hotel efficiently, consider upgrading to a better cloud-based hotel management software solution. 

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Management Hotels Operations ROI 52

Cloudbeds

FEBRUARY 15, 2023

Striking a balance: controlling hotel operating costs while upholding guest satisfaction Keeping hotel operating expenses under control is essential to running a successful property. In the ideal scenario, property expenses would be perfectly aligned with total revenue, leaving a tidy profit for hotel owners.

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Operations Occupancy Revenue Hotels 52

SiteMinder

OCTOBER 11, 2022

Hotel manager (or front of house manager). Assistant hotel manager (or assistant front of house manager). Night duty manager (or night auditor). Management department. Other than the front of house managers and night managers, a hotel’s management staff go largely unseen by guests.

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Operations Hotels Management Revenue Management 59

SiteMinder

APRIL 25, 2024

With every passing year, revenue management is playing a more central role at hotels as they navigate a landscape now locked in a permanent state of change. The exact genesis of yield management (now revenue management) in the hospitality sector is hotly debated,” says Stuart-Hill. “The

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STAAH

NOVEMBER 28, 2023

Effectively plan and reach your business goals for 2024 with these smart revenue management and distribution tips. To cope with a highly dynamic market , improve efficiency and meet the evolving needs of guests, there have been some shifts in revenue management and distribution.

Revenue 86

Revenue Revenue Management Cancellation Hotels 86

Little Hotelier

MARCH 10, 2024

Hotel sales software is a specialised tool designed for the hospitality industry to manage and optimise sales activities. It centralises information on bookings, customer interactions, and revenue streams, allowing hoteliers to efficiently track performance and make informed decisions.

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Hotel Business

APRIL 19, 2023

Experts across the hospitality industry continue to forecast “cautious optimism,” emphasizing caution as the International Monetary Fund chooses to lower the projections for their annual economic growth forecast to 2.9% Today, this process is supported end-to-end by revenue management technology. from an initial 3.4%.

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Revenue Management Forecasting Consumer Occupancy 52

Catala Consulting

JULY 13, 2022

Table of Contents Having an outstanding customer experience and increasing revenue are the goals of every hotel owner. But many hoteliers (both small and large) struggle with high operating costs. The article contains a comprehensive breakdown of hotel operating expenses and how to cut them down.

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Hotel Speak

DECEMBER 11, 2023

Effectively plan and reach your business goals for 2024 with these smart revenue management and distribution tips. To cope with a highly dynamic market , improve efficiency and meet the evolving needs of guests, there have been some shifts in revenue management and distribution.

Revenue 55

Revenue Revenue Management Cancellation Hotels 55

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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Events Revenue Management Revenue Sales 59

Hotel Business

FEBRUARY 26, 2024

Our new brand encapsulates our mission to put data and efficiency at the heart of hotel operations so hoteliers can return to hospitality.” TruePlan: A budgeting and forecasting solution that allows hoteliers to simplify and streamline budgeting processes and forecast with confidence.

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