Revenue Science Essentials: The 3 Pillars of Dynamic Pricing

2022-03-05T12:49:54+01:00

When applying revenue science to your hotel or resort’s dynamic pricing tactics, there are three areas ripe for optimization: demand, capacity, and price sensitivity. Taking the time to review the basics and reassess how each of these factors into your revenue strategy is critical to positioning your hospitality business for maximum revenue performance and growth. For the Right Price… One

Revenue Science Essentials: The 3 Pillars of Dynamic Pricing2022-03-05T12:49:54+01:00

Hotel Dynamic Pricing Guide; An Essential Overview of All Price Tags

2022-02-18T18:53:28+01:00

Revenue management underpins six different main types of hotel room pricing. Called dynamic pricing or "price tags," this article illustrates these various pricing approaches. As you adopt revenue management for your hotel, you'll want to understand these concepts so you can interpret the phases of your property's pricing path accordingly to maximize revenues or minimize damages. Quick menu: Hotel Dynamic

Hotel Dynamic Pricing Guide; An Essential Overview of All Price Tags2022-02-18T18:53:28+01:00

Revenue Management Guide: Calculating Costs & Quality Analysis

2022-02-18T19:43:24+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 Analysis2022-02-18T19:43:24+01:00

How Successful Hoteliers Handle Pricing Strategies for The Recovery

2022-02-18T20:07:23+01:00

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 Recovery2022-02-18T20:07:23+01:00

9 Essential Hotel KPIs to Optimize Your Upsell Marketing Performance

2022-05-14T19:38:00+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 Performance2022-05-14T19:38:00+02:00

How to Measure The ROI of Your Revenue Management System?

2022-02-18T20:11:30+01:00

The revenue management system (RMS) plays a vital role in the modern hotel technology stack, driving greater profitability and efficiency. Still, the demonstrating return on investment (ROI) in a hotel’s revenue management technology investment goes deeper than year-over-year RevPAR uplift measurements. Understand the True Impact of Revenue Technology The additional revenue from the proper utilisation of revenue management software and

How to Measure The ROI of Your Revenue Management System?2022-02-18T20:11:30+01:00

Total Revenue Management: How Hotels Can Maximize Their Revenue

2022-06-20T12:45:49+02:00

Total revenue management can broadly be defined as the goal to manage each revenue source to the highest profitability. By incorporating multiple revenue points-of-sale like food and beverage, banqueting and conferencing facilities, spa, retail, leisure activities and others with room revenue management, total revenue management assists hotels in achieving their goal of increasing revenue and profitability in a competitive market.

Total Revenue Management: How Hotels Can Maximize Their Revenue2022-06-20T12:45:49+02:00

The Most Used Revenue Management KPI’s for Hotels

2022-02-19T14:52:17+01:00

A key performance indicator can provide revenue managers and hotel owners with valuable information about the performance of their business. This subsequently has the benefit of allowing them to implement a revenue management strategy, so that they can maximise financial business results. In this post, we look at some of the most widely utilised revenue management KPI’s and how they

The Most Used Revenue Management KPI’s for Hotels2022-02-19T14:52:17+01:00

What does GOPPAR stand for?

2022-02-19T14:53:26+01:00

A key performance indicator, or KPI, is a quantifiable measurement of business performance. The use of KPIs is essential for implementing a successful revenue management strategy, as it allows businesses to identify areas of success and failure, as well as trends related to demand and customer behaviour. GOPPAR is one of the most important KPI used by hotels for the

What does GOPPAR stand for?2022-02-19T14:53:26+01:00

What is RevPOR?

2022-02-19T14:54:27+01:00

Revenue per occupied room, also known as RevPOR, is a KPI used within hotel management to assess financial performance. As a result, it can play a role in a revenue management strategy. Its main value to hotel owners is in giving them an idea of exactly how much revenue they are making from the rooms that they manage to sell.

What is RevPOR?2022-02-19T14:54:27+01:00

What is RevPAR?

2022-02-19T14:54:52+01:00

Revenue per available room, or RevPAR as it is usually shortened to, is a KPI used within the hotel industry in order to assess financial and business performance. As a metric, it is concerned with both room revenue and occupancy rate, which makes it an important indicator of the overall performance of a hotel, as well as a useful component

What is RevPAR?2022-02-19T14:54:52+01:00

What is an Average Daily Rate (ADR)?

2022-02-19T14:55:35+01:00

Average daily rate (ADR) is a KPI which is commonly used for revenue management within the hotel industry. The primary value of ADR, as a metric, is its ability to reveal the average rental income connected to occupied rooms each day, which is valuable for revenue management. It can, therefore, give hotel owners an idea of their current operating performance,

What is an Average Daily Rate (ADR)?2022-02-19T14:55:35+01:00

Hotel KPI’s explained: ADR, REVPAR and GOPPAR

2022-02-19T14:55:58+01:00

Revenue management is a data-driven approach to predicting customer behaviour, with a view to optimising product pricing and availability, in order to maximise revenue. It is especially useful in the hotel industry, because hotels have a limited number of rooms available and experience varying levels of demand. When carrying out a revenue management strategy, there are a number of key

Hotel KPI’s explained: ADR, REVPAR and GOPPAR2022-02-19T14:55:58+01:00

What is an Occupancy Rate?

2022-02-19T14:57:17+01:00

Occupancy rate is a KPI used by those within the hotel industry to assess the performance of a hotel. As a metric, it is concerned with the percentage of a hotel that is occupied and can be used alongside other KPI’s, such as ADR (average daily rate) and RevPAR (revenue per available room) as part of a revenue management strategy.

What is an Occupancy Rate?2022-02-19T14:57:17+01:00

What does EBITDA stand for?

2022-02-19T15:05:14+01:00

Earnings before interest, taxes, depreciation and amortization, or EBITDA for short, is a KPI that is becoming increasingly prevalent in hotel management. Sometimes referred to as operational cash flow, the metric can be used to determine the operational profitability of a business, taking into account only its key daily running costs. Why is EBITDA Important? EBITDA has emerged as an

What does EBITDA stand for?2022-02-19T15:05:14+01:00

NRevPAR Clearly Explained!

2022-02-19T15:05:53+01:00

Net revenue per available room, or NRevPAR, is used by those within the hotel industry as part of a wider revenue management strategy, helping them to assess overall business performance. As a KPI, the NRevPAR metric is similar to RevPAR, but factors in distribution costs. Therefore, it is arguably a more accurate performance indicator. What is NRevPAR? The NRevPAR metric

NRevPAR Clearly Explained!2022-02-19T15:05:53+01:00

What is ARPA?

2022-02-19T15:06:28+01:00

Average revenue per account, or ARPA, is a KPI used in the hotel industry for revenue management purposes. The metric tells hotel owners the amount of revenue generated, on average, per customer account. As a result, it is a good indicator of business performance. The metric is sometimes known as average revenue per user. What does ARPA stand for? ARPA,

What is ARPA?2022-02-19T15:06:28+01:00

What is TRevPar?

2022-02-19T15:07:17+01:00

Total revenue per available room, or TRevPAR, is a KPI used by those within the hotel industry to assess business results. It is concerned with total revenue generated from rooms, and space available. As a result, it can play an important role in a revenue management strategy, and can provide a useful snapshot of overall performance. What does TRevPAR stand

What is TRevPar?2022-02-19T15:07:17+01:00