20 Revenue Management Tips for Hotels
Revenue management within the hospitality industry involves predicting consumer demand to optimize sales, allowing businesses to sell at the right price to the right customer at the right time. In a hotel, this may mean turning away business now to do more profitable business tomorrow. When carried out correctly, revenue management can be extremely effective, helping companies significantly boost their profit margins. Here, we provide 12 revenue management tips for hotels. Table of Contents: 1.
Top Tips to Keep Hotel Revenue Management Teams Trained and Updated
Question for Our Revenue Management Expert Panel: What are the most impactful ways to ensure a hotel's Revenue Management team stays up to date with industry trends and best practices? (Question proposed by Diego Fernández Pérez De Ponga) Our Revenue Management Expert Panel Pablo Torres - Hotel Consultant Kathryn Baker - COO, TCRM (Total Customized Revenue Management) Niko Krauseneck - Founder, RevenueRebel Massimiliano Terzulli - Revenue Management Consultant,
The Insights & Misconceptions of Social Selling in Hospitality
Question for Our Hotel Marketing Expert Panel What is the impact of social selling in hospitality? What are the best practices for success? Are there any misconceptions about it and if so, why? (Question proposed by Cory Falter)Â Our Marketing Expert Panel Cory Falter - Partner, Lure Agency Moriya Rockman - Chief of Marketing, Smiling House Luxury Global Max Starkov - Adjunct Professor Hospitality Technology, New York University
The Basics of Revenue Management Explained!
Revenue management is concerned with optimizing 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 predicts demand and optimizes inventory and price availability. When utilized correctly, this will ultimately result in higher revenue. Table of
Top Language Survival Tricks for First-Time Visitors to Europe
Language barriers for first-time travelers in Europe often create unexpected confusion during everyday conversations and essential situations. Europe offers a rich tapestry of cultures, cuisines, and landscapes spread across dozens of unique language regions. Understanding tricks to overcome language challenges makes traveling smoother, safer, and more immersive from the very beginning. Here, we share simple, practical tips to help travelers communicate more effectively while enjoying every destination with confidence. Speak with Confidence Wherever You Go A Europe eSIM makes accessing translator apps that assist with real-time communication needs abroad easier. Having a reliable tool to translate signs, menus, or directions
How an Italian Hotel Doubled Revenue by Cracking Tripadvisor’s Top 10
Today's hoteliers want to increase their online bookings and revise corporate rates to a profitable market rate. Revenue management is a proven path to get there. This small hotel partnered with a revenue team and succeeded in doubling its revenue in two years and breaking into Tripadvisor's Top 10. Here's how. Revenue Management Boosts Online Reputation and Revises Static Corporate Rates for Hotel Success Sometimes, it's worth evaluating and redesigning your hotel's entire marketing and
Hotel Folio: Essential Guide for Effective Guest Billing Management
A hotel folio is a detailed financial document, breaking down the charges a guest has incurred during a stay. These itemized documents are now typically created and stored digitally, allowing for real-time changes. Hotel folios play an important role in providing transparency to guests and delivering accurate billing. Accuracy and transparency are key to a positive guest experience and the integrity of your hotel finances. In this article, you can learn about the main components
The Basics of Revenue Management Explained!
Revenue management is concerned with optimizing 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.
14 Pricing Strategies to Increase Your Hotel Revenue
Maximizing revenue is a top priority for hotel operators, and achieving this goal often requires the right pricing strategy at the right time. 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
21 Key Technology Trends Emerging in the Travel Industry in 2025
Technology is crucial to the tourism and travel industry, helping businesses with day-to-day operations while improving the customer experience. For this reason, hotels, airlines, restaurants, and other companies must keep up with the latest technology trends within the travel industry. In this article, you can learn more about the new