Revenue Management is About Much More Than Pricing
When hoteliers, hotel owners, or management seek the help of a revenue management consultant or outsourcing company, they often mention something like, "We've casually practiced revenue management in the past." As the consulting engagement kicks off, these hospitality professionals will say they understand the discipline even though they lack a structured approach. Yet, revenue management is all about structure. Pricing is Just a Fraction of the Revenue Management Approach As the revenue management consultant digs
Maximizing Revenue for Extended Stay Accommodations: Challenges and Opportunities
Extended stay accommodations and serviced apartments represent a small but fast-growing portion of the European hospitality sector, with the market projected to grow (1) at CAGR of 12.3% from 2024 to 2030. The segment’s relatively rapid growth should come as no surprise as more travelers are booking trips that blend both work and play, major hotspots crack down on short-term rentals like AirBnb, and their relatively lean operating models fuel an influx of investment and
Hotel Industry Challenges: A Guide for Hoteliers
Hotel industry challenges are best conceptualized as a product of a dynamic economic landscape. These include financial, market, and logistical elements inherent to the modern world. Examples range from staff retention to adaptation of new technological innovations. To succeed in the hospitality industry is to face these challenges with a full understanding of their complexities and possible methods of resolution. In this article you'll learn about the most significant challenges and how to overcome them.
Discover The Latest Housekeeping Trends for 2025
It is important for hotels to keep up with the latest housekeeping trends, as these will influence customer expectations. Furthermore, many of these trends have emerged because they provide ways to manage a housekeeping team effectively, boost efficiency, and improve guest satisfaction. In this article, you can read about the most significant trends to follow to optimize your hotel's operations and keep guests happy in 2025. Table of Contents: What Is the Hotel Industry? What
What Does EBITDA Stand for?
Earnings before interest, taxes, depreciation, amortization, or EBITDA for short, is a KPI becoming increasingly prevalent in hotel management. Sometimes referred to as operating cash flow, the metric can be used to determine the operational profitability of a business, taking into account only its key daily running costs. In this article, you’ll learn what EBITDA means for hotels, how it is calculated, key benchmarks, and why it has become essential for measuring profitability today. Table of Contents: What Is EBITDA? Why Is EBITDA Important? EBITDA Calculation What Is an Example of EBITDA? Uses and Limitations Tips to Optimize EBITDA in
Hotel Websites Where Hoteliers Can Sell Packages (Including Examples)
Hotel rooms don't sell themselves. Hoteliers need to embrace a wide range of tactics to ensure optimum occupancy. Package deals are a great way to entice guests to book at your hotel. Advertising packages online is a good idea to ensure that your package deals get the best visibility. Here are some of the top websites where you can market your hotel packages. Table of Contents: What Is the Hotel Industry? What Is a Hotel
6 Tips on How You Can Break Into The Travel Industry
How can you break into the travel industry? If you have decided that this is an industry that you are interested in getting into, then you’ve got a few different ways in. We understand that you might have come up with your own ideas already, and that’s absolutely fine. This article is geared towards those who need a little bit of help with getting into the travel industry! There are a lot of different ways
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
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
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.