3 Key Strategies for Mastering Revenue Management with PMS Data
Data fuels the commercial operation of a property and empowers hotel Revenue Managers to make informed decisions, outpace rivals, and ultimately boost profits. When discussing data, there's no resource more crucial than your Property Management System (PMS). How to Master Revenue Management with PMS Data: The 3 Strategies Your PMS is the core of your hotel's daily operations, monitoring everything from bookings and guest arrivals to room pricing and invoicing. However, it's also a rich
3 Key Questions for Evaluating RMS Options Before Budget Season
Hotel budgeting season is right around the corner, and many hoteliers are getting ready to roll up their sleeves and start making tough financial decisions as they look to align investment priorities with next year’s budget projections. This is often a challenging and time-consuming process, but it’s also an opportunity to think through a strategic vision and evaluate the tools and resources needed to achieve these goals. Investing in an RMS is a High Priority
4 Key Metrics for Your Hotel’s Direct Channel Success
Data analytics is, of course, helpful to better understand your hotel’s direct channel performance, but what’s most useful is being able to compare your results to the market to identify potential growth drivers. The Benefits of Hotel Benchmarking Hotel benchmarking enables you not only to access competitive insights but to make better-informed decisions and take action in those areas that will impact your business. Knowing which metrics to focus on, however, can sometimes be challenging…
Key Features to Evaluate in a Booking Engine to Maximize Revenue
As the hospitality sector undergoes swift transformations, prioritizing convenience and tailored experiences for all travelers, the pivotal role played by Internet Booking Engines (IBEs) becomes undeniably vital. These digital tools have revolutionized hotels' operations, helping them achieve the dual goals of maximizing occupancy and revenue. 11 Most Important Booking Engine Features The hotel's success heavily relies on its online presence and booking capabilities. A seamless and efficient booking engine can make a significant difference for
Is Predictive Personalisation in Hospitality a Risk or Opportunity?
Question for Our Revenue Management Expert Panel: Does predictive personalisation in hospitality truly enhance the guest experience, or does it risk limiting spontaneity and the thrill of discovery? (Question proposed by Nikolas Hall) Our Revenue Management Expert Panel Tamie Matthews - Revenue, Sales & Marketing Consultant, RevenYou Massimiliano Terzulli - Revenue Management Consultant, Franco Grasso Revenue Team Mariska van Heemskerk - Owner, Revenue Management Works Chaya Kowal -
Practical Tips to Increase Hotel Sales When Demand is Low
In a low-demand context, hotels must focus on maximizing their conversion rate. A proactive sales strategy augmented by Artificial Intelligence (AI) proves instrumental in navigating these difficult times. Practical Ideas to Increase Direct Conversion Rates In these low-demand times, every reservation counts. Just making hotel direct booking easy from a technical perspective is not enough. To increase conversion, you must convince hesitant customers and ensure no potential customer leaves your website without booking. This article
Changes in Post-Covid Breakdown of Direct Vs OTA Bookings for Hotels
Question for Our Revenue Management Expert Panel: When reviewing the number of direct website bookings Vs OTA bookings, have you seen any difference in this breakdown post-Covid? Has there been a shift in B2B and B2C? (Question by Ricardo Sereno) Our Revenue Management Expert Panel Sandra Gannon - Commercial Consultant, Revenue Puzzle Krunal Shah - Director of Revenue Management, The Biltmore Mayfair, LXR Hotels & Resorts Silvia
Hotel Profit Management Redefining Performance for the Future
For years, revenue management was the commercial heartbeat of hotels: optimizing room rates, forecasting demand, and filling beds efficiently. But the landscape has shifted. Relying solely on RevPAR is like saying you watched a movie after watching the trailer; you may know what it is about, but you miss the
How Can Hotels Align Pricing with Value and Market Position?
Question for Our Revenue Management Expert Panel What analysis should hotels use to evaluate pricing relative to perceived value and that of competitors? How might this influence their market positioning strategy? (Question by Mariska van Heemskerk) Our Revenue Management Expert Panel Mariska
How Can Hotels Stay Competitive Without Slashing Last-Minute Rates?
Question for Our Revenue Management Expert Panel In markets where last-minute rates are often dropped, what pricing strategy will help keep hotels competitive without jeopardising long-term revenue goals? (Question by Mariska van Heemskerk) Our Revenue Management Expert Panel Tamie Matthews - Revenue,
Hotel Press Release: Tips to Write a Successful News Release
Well-written press releases are a key communication channel in the hotel industry. Whether you want to announce company news, events, or the appointment of a new CEO, a hotel press release provides a unique opportunity to communicate this to the world. But not every press release will have the same
Hotel Marketing Checklist and Tips for Pre-Opening Success
Question for Our Hotel Marketing Expert Panel To ensure a successful launch, what key actions should be on a hotel’s marketing checklist in the months leading up to a new opening? (Question proposed by Kamila Zawadzka.) Our Marketing Expert Panel Kamila Zawadzka -
A Comprehensive Overview of All Hotel Positions
Hotels offer a number of different career paths, thanks to the sheer range of hotel positions that exist. In order to find the best job for your skills, qualifications, and preferences, it is beneficial to have a rounded understanding of these different roles. In this article, you will find a