What is Revenue Management?
What is revenue management, and why does it matter so much to hospitality brands? Essentially, it's a data-driven approach to anticipating demand and adjusting pricing and distribution in order to maximize earnings. Revenue management is crucial for hotels and similar businesses because they have fixed costs to contend with. When hotels are able to accurately forecast demand, they can take steps to ensure these fixed costs are always covered. In this article, you'll learn what
What does GOPPAR stand for?
A key performance indicator, or KPI, is a quantifiable business performance measurement. KPIs are 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 behavior. GOPPAR is one of the most important KPIs hotels use for revenue management. This article explains what GOPPAR stands for and why it is important. GOPPAR Explained GOPPAR is an acronym for
What Is EBITDAR and Why Does it Matter for Hotel Profitability?
EBITDAR is a financial metric that stands for earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs. It is sometimes used by hospitality businesses to assess financial health. As a metric, EBITDAR is important because it helps to level the playing field when comparing businesses with different structures and rent costs. This allows financial assessments to focus on core operational performance. In this article, you can find out more about what EBITDAR is
What Is an Occupancy Rate?
Occupancy rate is a KPI used by those within the hotel industry to assess a hotel's performance. As a metric, it is concerned with the percentage of a hotel occupied, and can be used alongside other KPIs, such as ADR (average daily rate) and RevPAR (revenue per available room), as part of a revenue management strategy. Table of Contents: What Does the Occupancy Rate Stand for? What Influences the Hotel Occupancy Rate? How to Calculate
What is Revenue Management?
What is revenue management, and why does it matter so much to hospitality brands? Essentially, it's a data-driven approach to anticipating demand and adjusting pricing and distribution in order to maximize earnings. Revenue management is crucial for hotels and similar businesses because they have fixed costs to contend with. When hotels are able to accurately forecast demand, they can take steps to ensure these fixed costs are always covered. In this article, you'll learn what
What does GOPPAR stand for?
A key performance indicator, or KPI, is a quantifiable business performance measurement. KPIs are 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 behavior. GOPPAR is one of the most important KPIs hotels use for revenue management. This article explains what GOPPAR stands for and why it is important. GOPPAR Explained GOPPAR is an acronym for
What Is EBITDAR and Why Does it Matter for Hotel Profitability?
EBITDAR is a financial metric that stands for earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs. It is sometimes used by hospitality businesses to assess financial health. As a metric, EBITDAR is important because it helps to level the playing field when comparing businesses with different structures and rent costs. This allows financial assessments to focus on core operational performance. In this article, you can find out more about what EBITDAR is
6 Ways Revenue Management Systems Help Hoteliers Do More with Less
Most independent hoteliers are used to juggling more with less dedicated resources, but effective revenue management—and the tools that enable it—should not be written off as exclusively a "big brand" or "large hotel" concern. What Is a Revenue Management System? Among the technologies typically used by hoteliers, revenue management systems
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, personalized guest experiences. This article will focus on four ways hotels can leverage AI and Big Data to engage customers in the hotel direct booking process and drive their direct sales.
3 Ways Hoteliers Can Prepare for the Biggest Trends of 2024 and Beyond
In 2024, chasing demand will be a top priority for the travel industry as we head in for a year of moderate growth. While the outlook is promising, lodging businesses are now challenged to increase their RevPAR without alienating price-sensitive guests, as demand is expected to remain relatively flat and
5 Ways For Hotels to Minimize Booking Engine Drop-Off
Your hotel's website might be buzzing with traffic due to all the hard work and resources you're putting into attracting visitors. But is your website as efficient as you wish it was? Imagine a potential guest, excited and ready to book, but something doesn't click, and they leave without completing
From Zero to Hero: 4 Ways a Hotel CRM Can Level up Your Marketing Efforts
As a hotel marketer, you know that managing multiple communication channels to reach out to potential guests can be an overwhelming task. With the ever-evolving digital landscape, it's becoming increasingly difficult to keep up with the latest trends and ensure consistent brand messaging across all channels. To make matters worse,
Vrbo Owner Login Strategies & Optimization for More Bookings
VBRO owner login strategies are essential if you use the platform to let your holiday rental property effectively. Vrbo is a holiday rental company specializing in short-term accommodation. It connects property owners with renters looking for self-contained spaces. Unlike other OTAs (online travel agencies), Vrbo focuses on renting apartments and