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Revenue Management Guide: Calculating Costs & Quality Analysis

2021-12-02T11:21:51+01:00

As a hotelier, you know many factors go into your room rates. Three of those factors are your costs, current demand, and your hotel’s online visibility. Revenue management is the science of assessing these and other factors and raising your profitability year after year. This article offers a guide to analyzing your costs and improving your analysis with the goal

Revenue Management Guide: Calculating Costs & Quality Analysis2021-12-02T11:21:51+01:00

Tools of the Trade: Why Revenue Managers Need to Be Active Software Reviewers

2021-12-02T17:46:49+01:00

A comprehensive approach to revenue management traditionally includes a number of different solutions from PMS, CRS, RMS, rate shopper, and business intelligence tools. But at a time when occupancy levels remain aberrantly low, what other tools, if any, should a revenue manager be aware of that can help increase revenue? The Future of Revenue Management: Total Profit Management This article

Tools of the Trade: Why Revenue Managers Need to Be Active Software Reviewers2021-12-02T17:46:49+01:00

Forward-Looking Demand Data: The Secret to Optimising Revenue in Challenging Times

2021-11-20T11:18:16+01:00

Name an area of life or work that the pandemic didn’t impact. It’s not easy to find one, is it? Especially in the hospitality industry, it feels like hardly anything is as it was before COVID. However, there’s one thing that has dramatically gained importance. It’s your ability as a revenue manager to grasp market trends, foresee demand shifts and

Forward-Looking Demand Data: The Secret to Optimising Revenue in Challenging Times2021-11-20T11:18:16+01:00

5 Steps to Master The Basics of Hotel Benchmarking

2021-11-19T15:34:33+01:00

Whether your hotel brand contains five-star luxury hotels or serviced apartments, having precise data and knowing how to leverage it, is critical to building a successful hotel revenue plan. When it comes to implementing a hotel benchmarking strategy, there are multiple questions to consider. How do I define my compsets? What metrics should I analyze? How do I go about

5 Steps to Master The Basics of Hotel Benchmarking2021-11-19T15:34:33+01:00

3 Ways to Streamline Upselling Across Your Entire Hotel Chain

2021-10-26T08:59:33+02:00

Once it’s in place, an automated upselling system brings countless advantages, like a more personalised guest experience, increased revenue and a more efficient workflow. Achieving these results at a single property may feel relatively straightforward. But how can you replicate them at all hotels across your chain or brand? 1. Facilitate System Adoption The easier you make it for teams

3 Ways to Streamline Upselling Across Your Entire Hotel Chain2021-10-26T08:59:33+02:00

Protecting Your Hotel’s Cash Flow & Improving Asset Valuation

2021-10-18T10:13:29+02:00

Hotel revenue management plays a central role in protecting, forecasting, and strengthening a hotel's cash flow and overall financial position by enhancing the cash position of the asset. Additional revenue generated by a revenue management system directly flows into the amount of cash available. This higher rate of cash flow—combined with detailed forecasts which enable expense management—has a number of

Protecting Your Hotel’s Cash Flow & Improving Asset Valuation2021-10-18T10:13:29+02:00

An Analyze of How Hoteliers Handled Revenue Management During the Pandemic

2021-10-14T11:32:08+02:00

Using past data to predict future revenue during a pandemic might seem counterintuitive to many hoteliers. After all, hotel revenue management is always a complex science. How can you predict anything during a pandemic? In this article, you’ll learn how fellow hoteliers dealt with the Corona pandemic. Three Different Paths During the Pandemic As a hotelier, you’ve faced an unusual

An Analyze of How Hoteliers Handled Revenue Management During the Pandemic2021-10-14T11:32:08+02:00

The Five Boxes Your New Revenue Management (RMS) Should Check

2021-09-24T20:53:19+02:00

Today things are different. There's a greater variety of more intuitive RMSs that are easy to use for your team and can be set up faster than legacy systems. Thanks to this development, finding an RMS doesn't have to be hard anymore. In the following article, you'll discover how to find the RMS that will help you do just that.

The Five Boxes Your New Revenue Management (RMS) Should Check2021-09-24T20:53:19+02:00

How to Make Effective Upselling Part of Your Hotel’s Culture?

2021-09-10T15:03:13+02:00

In hospitality, you’re always trying to do just a little bit better, both in terms of the experience you offer guests and the revenue you generate from it. Implementing new ideas and making them part of your property’s culture can seem challenging in that case. But with the right training, it’s easier than you may think. In this piece, you’ll

How to Make Effective Upselling Part of Your Hotel’s Culture?2021-09-10T15:03:13+02:00

A Few Thoughts on Your Hotel’s Distribution & Channel Strategy

2021-09-10T15:03:30+02:00

When engaging with online travel agencies (OTAs) in these volatile times, hoteliers must adequately understand the value and costs of all distribution channels. Any relationship weighted in favour of an OTA to the detriment of a hotel’s bottom line needs to be reviewed, and steps should be taken to maximise direct bookings. Hoteliers Should Explore OTA Alternatives For many hoteliers,

A Few Thoughts on Your Hotel’s Distribution & Channel Strategy2021-09-10T15:03:30+02:00

Revenue Management Trends: Discover the Latest Developments

2021-09-10T15:06:25+02:00

A significant part of getting the most out of a hotel revenue management strategy involves keeping up with the very latest revenue management trends and then implementing associated strategies, while investing in relevant technology. In this article, you can learn all about the latest developments in this area, so that you can stay ahead of the game. Quick menu: Understanding

Revenue Management Trends: Discover the Latest Developments2021-09-10T15:06:25+02:00

Revenue Management After COVID-19 – “Innovating Through Uncertainty”

2021-09-10T15:06:37+02:00

Never before has a single event affected the global economy to the extent that the ongoing COVID-19 pandemic has. Within the hotel industry, revenue managers, owners and operators have been thrown into disarray and all are facing a less predictable future. In this article, you will learn more about the role that revenue management strategies will play in the post-COVID

Revenue Management After COVID-19 – “Innovating Through Uncertainty”2021-09-10T15:06:37+02:00

How Hotel Automation Increases Early Check-in & Late Checkout Revenue

2021-08-20T18:06:32+02:00

When you hear the word automation, it may conjure up images of a future where artificial intelligence and robots take over jobs. The reality, however, is much more nuanced. The notion of automation generally remains ossified in this physical, machine-replace-labour frame and is perceived as another step toward automation-led obsolescence. Automation in Everyday Life Discussions about automation all too often

How Hotel Automation Increases Early Check-in & Late Checkout Revenue2021-08-20T18:06:32+02:00

Creating a Tech-Powered Operation & Guest Journey at Hotel Made in Louise

2021-08-20T18:06:43+02:00

The Brussels-based boutique hotel Made in Louise had a major leg up on many competitors during the pandemic thanks to its advanced tech stack. This helped them get through the corona crisis and make the most of the beginning recovery phase. Martin Duchateau, General Manager and owner of the 48-key Made in Louise hotel, shares how he navigated the pandemic

Creating a Tech-Powered Operation & Guest Journey at Hotel Made in Louise2021-08-20T18:06:43+02:00

How Successful Hoteliers Handle Pricing Strategies for The Recovery

2021-08-19T10:40:33+02:00

Analyses showed that hotels with a solid revenue management strategy came out of the Covid-19 crisis better than hotels without. In this article, you'll learn how successful hoteliers handle pricing strategies for recovery, and how to deal with spillage, spoilage, overbooking, and oversell. Quick menu: Hotels With a Solid RM Strategy Came Out of the Covid-19 Crisis Well The Results

How Successful Hoteliers Handle Pricing Strategies for The Recovery2021-08-19T10:40:33+02:00

Don’t Open Your New Hotel Without a Revenue Management System

2021-09-10T14:57:07+02:00

Hotel owners, developers, asset managers, and other stakeholders charged with successfully launching a new hotel property—in a marketplace that may already be quite competitive—know they’ll need more than attractive features and amenities that entice and cultivate a loyal customer base. As the industry adapts to a post-pandemic world, the team behind a new property also must assess key behind-the-front-desk requirements

Don’t Open Your New Hotel Without a Revenue Management System2021-09-10T14:57:07+02:00

The Power of Lean Revenue Management; Sophisticated But Not Complex

2021-08-19T10:41:52+02:00

The global pandemic has sped up a trend in revenue operations (RevOps) throughout the business world. Forrester recently published a study that found that many companies are moving towards more centralized RevOps. They’ve understood that revenue is more than an outcome and instead of a result of a business process where commercial teams come together to achieve their goals. Comprehensive

The Power of Lean Revenue Management; Sophisticated But Not Complex2021-08-19T10:41:52+02:00

9 Essential Hotel KPIs to Optimize Your Upsell Marketing Performance

2021-08-19T10:42:20+02:00

The hotel industry employs many unique key performance indicators. ADR (average daily rate), RevPAR (revenue per available room) and Occ% (occupancy) naturally come to mind. These metrics reflect the unique nature of our business, but their existence also drives our attention and actions. Watching your hotel’s KPIs translates into optimizing key activities to influence those KPIs positively. As the old

9 Essential Hotel KPIs to Optimize Your Upsell Marketing Performance2021-08-19T10:42:20+02:00