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Revenue Management Tips

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Role of a Revenue Manager is Shifting Thanks to Automation

2022-07-18T10:36:37+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 Automation2022-07-18T10:36:37+02:00

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

2022-07-18T10:37:02+02:00

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!2022-07-18T10:37:02+02:00

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

3 Steps to Fight Price Disparities on Your Hotel Website

2022-06-24T15:09:16+02:00

As travel comes back in full force, everyone is trying to claim their slice of the pie. So it’s no wonder you are running into price disparities between your hotel’s rates and those available on OTAs (online travel agencies) and metasearch engines. They’re inevitable, and as a savvy hotelier, you’ve got two options: accept them, or take action. In this

3 Steps to Fight Price Disparities on Your Hotel Website2022-06-24T15:09:16+02:00

Automation in Hotel Revenue Management: Yes, or No?

2022-05-31T10:13:17+02:00

At the Asian American Hotel Owners Association’s annual event, Tyler Morse, chairman and CEO of MCR Development, recently shared a quote to inspire hoteliers to take revenue maximisation into their own hands: “Increase your rates; do it with confidence. … Stop wasting money … Buy smart technology… This is a very simple business … don’t get swooned by all the

Automation in Hotel Revenue Management: Yes, or No?2022-05-31T10:13:17+02:00

Learn How to Maximize Your Premium Hotel Room Revenue

2022-05-31T10:16:28+02:00

Do you put your Premium Rooms on a pedestal? A more nuanced approach will yield more revenue. Suites are a peculiar thing within the hotel industry. They are, after all, just hotel rooms for rent. But some hoteliers are very attached to what their premium represents–the hotel's very best. In a way, these special rooms are protected. Some hotels may

Learn How to Maximize Your Premium Hotel Room Revenue2022-05-31T10:16:28+02:00

Staffing Considerations for a Revenue Team

2022-05-31T10:17:18+02:00

There is a recognized need for proactive revenue strategy and technology investment for many hotels. However, once the new technologies are integrated, there remains an open question: who’s going to keep this operation running smoothly and profitably as opening day approaches and beyond? Factors to Help You Identify the Best Staff Below you find some factors that will help you

Staffing Considerations for a Revenue Team2022-05-31T10:17:18+02:00

Why Revenue Management Systems Will Never Replace Human Revenue Managers

2022-05-17T12:01:50+02:00

When the desktop computer came along, it needed human input. It's no different with an RMS (revenue management system.) Even an AI-enabled RMS can't think independently (and that's a good thing!) You've probably heard plenty about AI (artificial intelligence) chatbots that learn from biased human language and "deep fakes," which are the 21st c. version of Photoshop. These are just

Why Revenue Management Systems Will Never Replace Human Revenue Managers2022-05-17T12:01:50+02:00

Pricing Personalization & the Future of Hospitality

2022-05-02T14:03:49+02:00

Pricing personalization allows hotels to move towards total profit optimization by combining the power of the guest profiles in your CRM with revenue management forecasting to deliver the right price to the right guest at the right time during the guest journey. Guests Have Increased Expectations for Personalization Personalization is an evolving topic within the hospitality industry, from technology and

Pricing Personalization & the Future of Hospitality2022-05-02T14:03:49+02:00

How to Maximize Hotel Revenue by Applying Open Pricing to Upselling

2022-05-02T11:07:47+02:00

You probably already know that adjusting your room rates based on demand fluctuations can boost your revenue. But have you ever thought of applying this approach to upselling? And what about taking things yet another step further and using the principles of open pricing on upselling as well? Keep reading to discover how these techniques can take your revenue strategy

How to Maximize Hotel Revenue by Applying Open Pricing to Upselling2022-05-02T11:07:47+02:00

Don’t Settle for Hotel Upselling “Light”

2022-04-15T19:44:00+02:00

Today's revenue managers are not stupid. They all know that occupancy is terrible, and while they can try to prop up the rate, it will be hard to reach 2019 revenue levels from reservation acquisitions alone. Their plan is to derive more revenue from their acquired guests now. So, things like room upgrade platforms, once considered a bonus, are now

Don’t Settle for Hotel Upselling “Light”2022-04-15T19:44:00+02:00

Technology & Automation; The Solution to Staffing Shortages in Hotels

2022-05-14T18:12:38+02:00

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 Hotels2022-05-14T18:12:38+02:00

Learn How Breakfast Service Can Be a Profit Center for Your Hotel

2022-05-14T18:12:49+02:00

OTAs show "breakfast included" as a primary search filter for hotel guests. It's not surprising that guests want to maximize their time and energy by enjoying breakfast within the hotel. It's one less decision they need to make. In this article, you'll see how thinking of breakfast as a profit center – setting, food, service, environment – impacts your hotel's

Learn How Breakfast Service Can Be a Profit Center for Your Hotel2022-05-14T18:12:49+02:00

Tips for Maximizing Revenue Potential Before Opening a New Hotel

2022-04-29T12:42:05+02:00

Opening a new hotel or resort property is thrilling and daunting. Wherever you are on your new hotel journey, it's never too soon to assess your revenue optimisation needs. Your new hotel's revenue management approach will play an impactful role at every stage of development, from staffing decisions to tech budgets to sales, marketing, and distribution tactics. Pre-Opening Considerations Given

Tips for Maximizing Revenue Potential Before Opening a New Hotel2022-04-29T12:42:05+02:00

2022 Top Upselling Deals and Trends in Hospitality

2022-04-12T13:20:42+02:00

Without a doubt, the last couple of years have brought countless challenges for hoteliers. But despite that, many creative and forward-thinking teams were able to steer their properties through these challenging times. For many of them, upselling played a major role in their success. The 2022 Hospitality Market Report summarises their results. Read on to let the latest recovery and

2022 Top Upselling Deals and Trends in Hospitality2022-04-12T13:20:42+02:00

How Optimized Housekeeping Operations Save Costs & Drive Hotel Revenue

2022-05-14T18:16:40+02:00

Given the challenges the international hospitality industry faced in recent years, total hotel revenue optimization (THRO) is essential today. This probably brings up ideas like optimizing revenue generation in rooms, F&B, and the spa for you and most other hoteliers. But what about housekeeping? While this department was historically seen as a cost center, it has plenty of untapped revenue

How Optimized Housekeeping Operations Save Costs & Drive Hotel Revenue2022-05-14T18:16:40+02:00