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Revenue Management Tips

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How to Use Food and Beverage F&B Data to Increase Hotel Revenue

2022-11-25T18:03:51+01:00

Food and beverage (F&B) data is considered a gold mine in the hospitality industry. From the moment your guests make an online reservation, to the time they leave your restaurant, your POS system or an advanced reservation platform generates valuable guest data. In this article, you'll learn how to use F&B data to improve guest experience, ultimately increasing hotel revenue.

How to Use Food and Beverage F&B Data to Increase Hotel Revenue2022-11-25T18:03:51+01:00

How To Increase Hotel Revenue With Easy Pre-Authorizations

2022-11-25T09:44:11+01:00

While hoteliers know credit card pre-authorization, many don't incorporate it into their reservation policies. Or, if they do, they leave it up to OTAs. Either way, ignoring the impact of well-managed pre-authorizations on your hotel's revenue is a mistake. Flexibility for Guests and Guarantees for Hoteliers Pre-authorizations are a temporary hold of a specified monetary amount made on a guest's

How To Increase Hotel Revenue With Easy Pre-Authorizations2022-11-25T09:44:11+01:00

6 Ways Your Hotel Might be Missing Revenue Opportunities

2022-11-25T09:43:54+01:00

You'll probably agree that seizing revenue opportunities is more important now than ever - especially with costs increasing in every area of hotel operations and demand only recovering. Otherwise, your property's profitability could take a severe hit, and its long-term business success may be at risk. Luckily, there are many things you can do to capitalize on demand and get

6 Ways Your Hotel Might be Missing Revenue Opportunities2022-11-25T09:43:54+01:00

Considering a New Hospitality RMS? Watch Out for These 4 Myths

2022-11-14T13:50:51+01:00

So, you’re thinking about upgrading to a more effective revenue management system (RMS) for your hospitality organization, but you have some doubts. Maybe you’re thinking: It’s too costly to install a different RM Learning a new system will take too much of my staff’s bandwidth My new system will take too long to learn how to price effectively It’s easier

Considering a New Hospitality RMS? Watch Out for These 4 Myths2022-11-14T13:50:51+01:00

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

2022-11-14T13:51:15+01:00

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. Implementing new ideas and making them part of your property’s culture can seem challenging. But with the right training, it’s easier than you may think. In this piece, you’ll learn how to use a

How to Make Effective Upselling Part of Your Hotel’s Culture?2022-11-14T13:51:15+01:00

Technology & Automation; The Solution to Staffing Shortages in Hotels

2022-11-02T14:33:06+01:00

Getting guests to return after travel restrictions were lifted wasn't a challenge for most hotels. But winning back the staff who left the industry has proven difficult. As a result, understaffing has become one of the pandemic's toughest consequences for hotels. This creates new problems for an industry still recovering from months of closures. But while there's no one solution,

Technology & Automation; The Solution to Staffing Shortages in Hotels2022-11-02T14:33:06+01:00

In-stay Upselling: Why You Should Use It and How to Maximize Deals

2022-10-17T12:57:16+02:00

In addition to pre-stay upselling, in-stay upselling allows hoteliers to unlock another dimension that leads to enhanced revenue and guest satisfaction. In-stay upselling reminds guests of services they might have missed when booking their room and allows them to book these deals throughout their stay. What Are the Benefits of In-stay Upselling? Below you will find 3 benefits of in-stay

In-stay Upselling: Why You Should Use It and How to Maximize Deals2022-10-17T12:57:16+02:00

Revenue Management System: The Ultimate Accelerator for Your Hospitality Business

2022-10-17T13:47:55+02:00

Whether you're balancing a full plate of work priorities, searching for ways to maximize your revenue, or looking to gain better control over the fluctuating demands of the hospitality industry, a revenue management system (RMS) offers a comprehensive solution. Revenue Management is a Rapidly Growing & Changing Field More than anything, an RMS helps you manage times of uncertainty. And

Revenue Management System: The Ultimate Accelerator for Your Hospitality Business2022-10-17T13:47:55+02:00

Top RMS Reports Every Hotel Revenue Manager Needs to Know

2022-10-17T14:44:11+02:00

Revenue managers have no shortage of data at their fingertips. To visualize that data in an understandable and actionable way, here are some top RMS reports that every revenue manager should be familiar with. RMS Reports Every Hotel Revenue Manager Needs to Know Below you'll find top revenue management reports that every revenue manager should be familiar with to visualize

Top RMS Reports Every Hotel Revenue Manager Needs to Know2022-10-17T14:44:11+02:00

10 Tips in Building a Business Case for an RMS

2022-09-19T18:38:07+02:00

When you're trying to get your team on board to purchase a revenue management system (RMS), there are a few key things you'll need to keep in mind. Of course, you already know the benefits of utilizing an RMS. Your company will earn more revenue, become more efficient, free up time, and make better-informed decisions. You're already on board. Now

10 Tips in Building a Business Case for an RMS2022-09-19T18:38:07+02:00

7 Smart Ways to Generate Non-room Revenue & Encourage Loyalty

2022-09-06T15:51:27+02:00

Generating revenue and nurturing loyalty is about finding new ways to connect with your guests. This means looking beyond room rates to get people excited about your property’s amenities, dining, and other ancillary programs. To help get you started, our checklist below covers a variety of tactics designed to keep guests coming back again and again – even if they

7 Smart Ways to Generate Non-room Revenue & Encourage Loyalty2022-09-06T15:51:27+02:00

Boost Hotel Revenue by Understanding Post-Covid Guest Booking Behavior

2022-09-06T15:51:38+02:00

The most challenging period the global hospitality industry has faced to date is finally over in most regions. Lockdowns and travel restrictions are largely a thing of the past, and people are comfortable traveling again. But guest booking behavior has shifted. In this article, you’ll learn about 4 data-driven insights that help you to boost your hotel revenue. Times are

Boost Hotel Revenue by Understanding Post-Covid Guest Booking Behavior2022-09-06T15:51:38+02:00

Upselling’s Role in Hotel Net Operating Income (NOI) Growth

2022-08-22T10:41:22+02:00

The hotel business is unique in many ways, as exemplified by the unique KPIs we use, from revenue per available room (RevPAR), to average daily rate (ADR), occupancy, and everything in between. We can thank the advent of yield and revenue management that came to our industry in the 1980s for much of these metrics. But another metric that more

Upselling’s Role in Hotel Net Operating Income (NOI) Growth2022-08-22T10:41:22+02:00

Role of a Revenue Manager is Shifting Thanks to Automation

2022-09-16T20:55:55+02:00

Like much of our world today, the hospitality industry is constantly changing and evolving beyond what revenue managers and leaders of the past could have imagined. During unprecedented change, automation and new technology have become essential to successfully navigating the post-COVID hospitality landscape. Revenue Managers Becoming Strategists But with any change, comes reservation and distrust. As the industry continues to

Role of a Revenue Manager is Shifting Thanks to Automation2022-09-16T20:55:55+02:00

Discover Why These Hotels Enjoy a 15%-40% Higher Revenue Than 2019!

2022-11-07T12:27:38+01:00

When you review your hotel's mid-year numbers, what do you see? Are your occupancy rates up? Is revenue up? Is your hotel enjoying a revenue boost from 2019? A sample of over 400 revenue-managed hotels found they're on track to close 2022 with a 15%-40% revenue boost from 2019. A Decrease in RevPar for European Hotels A review of May

Discover Why These Hotels Enjoy a 15%-40% Higher Revenue Than 2019!2022-11-07T12:27:38+01:00

Open Pricing: Why Is It the Next Hotel Revenue Management Strategy

2022-07-18T10:38:11+02:00

Open pricing is an increasingly important strategy for increasing hotel revenue. It allows hotels to target a range of customers across different budgets, maximising revenue and raising levels of occupation all year round. With open pricing, rates and services can be pitched at the optimal level to ensure maximum uptake without compromising quality. In this article, you'll learn how this

Open Pricing: Why Is It the Next Hotel Revenue Management Strategy2022-07-18T10:38:11+02:00

Tips to Take Advantage of Changing Booking Behavior Before Your Competition

2022-07-18T10:38:44+02:00

While the Omicron variant slowed market recovery in 2021, STR's data reveals a strong positive trend for the hospitality industry for 2022 and beyond. In this article, you'll learn how to stay ahead of the competition by understanding the three data pillars of a forward-looking revenue strategy. Global Occupancy Increased It shows that the net propensity to travel has increased

Tips to Take Advantage of Changing Booking Behavior Before Your Competition2022-07-18T10:38:44+02:00

How Attribute-based Selling Solves the Hotel Industry’s Problem with Personalization

2022-06-24T15:08:55+02:00

As consumers, we're surrounded by extreme personalization every day. Whether AI-driven provides product recommendations, options when booking an airline ticket or even adding extra pepperoni on a pizza, consumers are commonly exposed to personalization mechanisms in their online shopping experiences. Consumers Expect Personalization Consumers have come to expect personalization as a standard function. An overwhelming 70% say we will shop

How Attribute-based Selling Solves the Hotel Industry’s Problem with Personalization2022-06-24T15:08:55+02:00