Revenue Management Tips

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5 Ways Big Data Can Benefit the Travel Industry


Within the travel industry, big data is one of the most important concepts to get to grips with, because most other businesses are already utilising it and reaping the rewards. These rewards include the ability to make more informed decisions, learn about customers and competitors, improve the customer experience and increase revenue. In this article, you will learn more about big

5 Ways Big Data Can Benefit the Travel Industry2019-11-02T14:11:17+01:00

Outsourcing Revenue Management: 4 Ways it Benefits Hotels


Revenue management is extremely important within the hotel industry, because it allows owners to optimise the way they do business, in order to improve financial results. However, it also requires specific skills and knowledge, which means that it can be more effective to outsource revenue management to a third party that specialises in this area. In this article, you will

Outsourcing Revenue Management: 4 Ways it Benefits Hotels2019-11-02T14:11:26+01:00

What is Yield Management?


Yield management is a pricing strategy, which is commonly utilised by businesses in hospitality, air travel and other tourism related fields, in order to generate maximum revenue from a perishable inventory (e.g. hotel rooms, or airline seats). Here, we answer the question 'what is yield management?' and provide an explanation for why it is so useful for hotel owners and

What is Yield Management?2019-11-02T14:15:10+01:00

10 Pricing Strategies to Increase Your Hotel Revenue


For those operating in the hotel industry, maximising revenue is a top priority, and achieving this goal often requires the right pricing strategy, at the right time. In fact, making room rate adjustments based on demand, customer segmentation and other factors can be the key to overall business success. In this article, we offer insight into 10 pricing strategies that

10 Pricing Strategies to Increase Your Hotel Revenue2019-11-02T14:15:33+01:00

Revenue Management System (RMS): What Are the Advantages?


For those working in the hotel industry and looking to maximise business results, a revenue management strategy can be invaluable, and a high-quality Revenue Management System (RMS) can help to ensure success. In this article, you find more detailed information about the importance of revenue management within hospitality settings, as well as some of the main features and advantages associated

Revenue Management System (RMS): What Are the Advantages?2019-11-15T09:29:20+01:00

The Most Used Revenue Management KPI’s for Hotels


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 Hotels2019-11-02T14:16:16+01:00

What does GOPPAR stand for?


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?2019-11-02T14:16:35+01:00

9 Forecasting Tips to Improve Your Revenue Management Strategy


Forecasting is an important part of any revenue management strategy, because it allows hotel managers to make vital decisions regarding pricing, promotion and distribution, based on anticipated demand and performance. In this article, we look at some useful forecasting tips, which can help you to improve your revenue management strategy. What is Revenue Management? Within the hotel industry, revenue management

9 Forecasting Tips to Improve Your Revenue Management Strategy2019-11-02T14:16:44+01:00

9 Revenue Management Strategies to Grow Your Hotel Business


For hotel owners looking to grow their business, a robust revenue management strategy is of the utmost importance, helping to optimise business results. However, under the broader revenue management umbrella, there are many smaller strategies that can help to facilitate growth. In this article you find nine revenue management strategies that those in the hotel industry can employ to achieve

9 Revenue Management Strategies to Grow Your Hotel Business2019-11-02T14:16:51+01:00

Revenue Management; clearly explained!


Revenue management is concerned with optimising financial results and is especially popular in industries like hospitality, which must contend with high fixed costs and a perishable inventory. For example, hotels have a certain number of rooms and fixed costs which must be met, regardless of how many rooms are sold. In such industries, revenue management is employed in an effort

Revenue Management; clearly explained!2019-11-02T14:17:00+01:00
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