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Hotel Magazine

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Hotel Magazine2020-07-08T20:21:49+02:00

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. Quick menu: Defining Revenue Management Why is Revenue Management Important? Revenue Management vs Yield Management Understanding

What is Hospitality? The Unrivaled Guide To Hospitality!

What is hospitality? In many people's minds, hospitality is strongly connected with leisure. The sector is far broader than this, however. For many organisations, day-to-day operations would be impossible without the support of some element of the hospitality sector. Whether you're booking a hotel for your summer holiday, a conference suite for a business event, or a restaurant for a family reunion, you've interacted with the hospitality industry. Quick menu: What is Hospitality? Defining the

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 purpose of revenue management. In this article we explain what GOPPAR stands for and why

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

9 Effective Ways to Improve The Guest Experience

Guest experience is everything. It's what ensures that your hotel will be remembered and a big part of whether a guest will return to stay with you again. You don't need to move mountains or even free up a large budget. The good news is that there are some really

5 Innovative Ways to Engage Customers in Your Hotel Direct Booking Process

Many hotels are approaching direct bookings the same way they did 5 years ago. While the basics still apply, new opportunities have emerged to drive engagement and Conversion. In this article, you'll learn how to engage customers during the booking process and increase Conversion. Enhancing Your Hotel Direct Booking Process:

5 Creative, Free & Reliable Ways to Drive More Traffic to Your Site

Do you feel like your hotel is on the precipice of success or simply missing that je ne sais quois, so you're looking for some nifty and smart ways to capitalise on your hotel's online presence? Then look no further; this article outlines ideas that are easy to implement, involve

4 Ways Hotels can Leverage AI & Big Data to Boost Direct Sales

AI and big data unlock opportunities for hotels to boost their direct revenue and operational efficiency while offering instant and personalized guest experiences. This article will focus on 4 ways hotels can leverage AI and Big Data to engage customers in the hotel direct booking process and drive their direct

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

Voice Search: How the Hospitality Industry Can Benefit From It!

Increased use of voice search in the hospitality industry has been one of the major technology trends of recent times. Yet, reliable voice search is still relatively new and many hotels and restaurants have only just started to recognise its potential. In this article, you will learn more about voice