Hotel STAR Report: Clear Introduction for Hoteliers
Hotel STAR Report The Hotel STAR Report is a critical performance benchmarking tool in the hospitality industry, providing detailed revenue and occupancy data compared to competitors. It is important because it helps hoteliers make informed pricing, marketing, and operational decisions by understanding their market position and identifying trends. Ultimately, it aims to boost profitability and market share. Key Takeaways The Key Components: Outlines crucial metrics and data segments within the report for better insight. Analyze
5 Essential Tips to Choose the right Property Management System
For those in the hospitality industry trying to run a successful hotel, a robust revenue management strategy is of the utmost importance, and a property management system (PMS) can assist greatly. In this article, you will find the uses of a property management system and read five tips to help you select the right one. Table of Contents: What Is a Property Management System? Why Is a Property Management System Important? 5 Tips On How
What is Yield Management?
Yield management is a pricing strategy commonly utilized by businesses in hospitality, air travel, and other tourism-related fields to generate maximum revenue from perishable inventory (e.g., hotel rooms or airline seats). Here, we answer the question 'What is yield management?' and explain why it is useful for hospitality hotel owners and others. Defining Yield Management In simple terms, yield management is a strategy based on selling to the right customer at the right time for
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
Revenue Marketing Helps Hotels Gain Profit When Wins Fall Short
Hotels love a good win. Marketing celebrates record clicks, sales land big contracts, and revenue holds rates during slow seasons. Yet these surface victories don't always equal profit. They can hide weak margins and rising costs. True growth demands a shift in mindset. Instead of chasing numbers that look impressive but fail to strengthen the bottom line, hotels need a strategy that unites every department around profitability. Revenue marketing provides that framework, aligning sales, marketing, and revenue teams to drive smarter decisions. In this article, you'll learn how to adopt revenue marketing for lasting growth. What Is Revenue Marketing? Revenue
10 Reasons Why Upgrading Your PMS is a Must in 2025
The hospitality industry isn’t slowing down, and outdated property management system (PMS) solutions are dragging hotels behind. Clunky, slow, and vulnerable to cyber threats, legacy systems can no longer keep up. If your property still relies on an aging PMS, here’s why 2025 is the year to upgrade—ranked from most to least urgent. 10 Key Reasons to Upgrade Your Property Management System Below you find 10 reasons to upgrade your property management system. 1. Cybersecurity
Hotels Are Losing Millions in Group Sales. Here’s Why (And How to Fix It)
There's a curious paradox in the hotel industry. Hotels have mastered the art of making it effortless for a guest to book a single room for one night. Yet the moment a group enters the equation, be it a corporate team booking, a sports club, or an event needing rooms and meeting space, the entire process grinds to a halt. Suddenly, it's email chains, manual RFPs, and a sales process more suited to the 1990s
5 Trends to Be Aware of for Your Hotel’s Strategy
As guest expectations evolve, so too should the strategies hoteliers use to communicate with them. Understanding these changing expectations and valuing what guests want is the foundation of any communication strategy. 5 Crucial Guest Trends to Include in Your Hotel’s Strategy Let’s delve into these expectations, explore how you, as
Loyal Guests: Unlocking Revenue with Loyalty Programs and Ancillaries
Studies show that loyalty program members aren’t just frequent travelers; they’re also highly engaged customers who are willing to spend on additional services to enhance their experience. In this article, you'll learn how hotels can expand their loyalty programs and integrate ancillary products and services to maximize loyalty, boost revenue,
Harnessing Hotel Business Intelligence: 5 Key Questions Your Data Should Answer
Embracing data-driven decision-making is vital for hotels looking to thrive in today's competitive environment. From identifying top revenue-generating channels to tracking total revenue per available room (TrevPAR) and managing costs, having access to interconnected data allows hoteliers to make quick, informed decisions that can boost operational efficiency, elevate the guest