Loading...

Hotel Magazine

Home/Hotel Magazine
Hotel Magazine2020-02-08T14:37:36+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 others working in hospitality. Defining Yield Management In simple terms, yield management is a strategy

What is RevPOR?

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 does RevPOR stand for? As a performance metric, RevPOR is concerned with all of

What is RevPAR?

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 of a revenue management strategy. What does RevPAR stand for? Essentially, RevPAR is a measurement

What is Revenue Management?

Revenue management is an extremely important concept within the hospitality industry, because it allows hotel owners to anticipate demand and optimise availability and pricing, in order to achieve the best possible financial results. In this article, we will answer the question of 'what is revenue management?' and explain the importance of adopting a revenue management strategy of your own. Defining Revenue Management In order to understand revenue management, we must first define it. Within the

What is an Occupancy Rate?

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 does occupancy rate stand for? In simple terms, occupancy rate refers to the number

Hotel KPI’s explained: ADR, REVPAR and GOPPAR

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 performance indicators, or KPIs, which should be tracked. Essentially, KPIs are quantifiable measures, which allow

What is an Average Daily Rate (ADR)?

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, especially when compared to other hotels with similar characteristics. What is ADR? In simple terms,

VR Hotel Tour; 10 Amazing Examples of Virtual Reality Hotel Tours

One of the major issues facing the hotel industry is implementing the most effective methods to promote their premises. As clients now rely heavily upon the digital domain, it should come as no great surprise that the Internet represents an indispensable tool. One of the most innovative options is to

How Can Voice Control Benefit the Hospitality Industry?

Successful leaders in the hospitality management understand the importance of embracing new technology, especially when it has the capacity to improve the customer experience. One example of a technology trend that has seen increased adoption rates in recent times is voice control technology, and it can be of great benefit

6 Must-Read Tips to Create The Perfect Virtual Reality Video

The hospitality and travel industry today have access to more marketing tools than ever before. While having a strong brand with high social media presence may sound great, you need to focus more on interactivity in order to be one step ahead of your competitors. For example, virtual reality videos

How Virtual Reality (VR) can Enrich the Hospitality Industry

Virtual reality, or VR for short, is one of the biggest emerging technology trends and the business world is gradually coming to terms with the various opportunities it provides. For those in the hospitality industry, virtual reality has particular appeal, because it can digitally transport potential customers to a hotel

5 Essential Video Marketing Tips for Hotels

Videos are an undeniably powerful marketing tool, especially for the hotel and travel industry. After all, they have the ability to capture the attention of the audience much quicker than text and have the power to generate extremely high traffic to your website. No wonder video marketing has taken the

Load More Posts