Overcoming New Tech Pains: RMS Change-Management Tips
Whether ditching a subpar revenue management system (RMS) provider for something better or implementing automated revenue tech for the first time, change is hard. But not changing could be disastrous for hotel businesses hoping to remain competitive and run efficiently and profitably in the new industry landscape of 2021 and beyond. Keep reading for tips on navigating the tech change for your hotel and overcoming the pain and obstacles of implementing a new RMS. Navigating
Point-of-Sale Systems in Hospitality: Maximizing the Benefits
Point-of-sale systems serve a crucial role in the hospitality industry, assisting with everything from the processing of customer payments to the accurate collection and management of data. Nevertheless, businesses need to take certain steps to maximize the benefits, and in this post, you can learn more about these steps. Table of Contents: What is a Point-of-Sale System? What Are the Main Benefits of Point-of-Sale Systems? 5 Additional Benefits of Point-of-Sale Systems? Expand Your Business Upsell
Revenue Manager Job Description: What to Look For?
Before embarking on a career in revenue management, reading a comprehensive revenue manager job description can be useful. After all, it is a position with many different responsibilities connected to it, and it is also important to get a sense of the required skills, qualities, and qualifications. In this article, you will find a description of what revenue management entails and why it is so important for hotels. Table of Contents: What is Revenue Management?
Tips to Simplify Your Revenue Strategy With Analytics & Automation in 2021
As a revenue manager, analytics and automation probably aren’t new to you. But recent developments in tech, like predictive analytics, forward-looking data and live insights, take revenue management to a whole new level. Especially in the looming recovery phase, these capabilities can drastically increase your chances of success even with unpredictable markets. Leaving Historical Data Behind Before Covid-19, your historical data was a reliable base for forecasts and business predictions for the upcoming year. But
Hotel CRM System: The Ultimate Guide to Customer Relationship Management
A hotel CRM system is a software solution designed to assist hotels with customer relationships management. It can be used to gather contact information, past customer interactions and guest preferences. By centralizing data, CRM systems make it easier for hotels to access important information about guests. This data can then be used to improve personalization, identify trends and enhance customer service. In this article, you can dive deeper into hotel CRM systems, why they matter, the benefits of acquiring a high-quality solution and the most important features and functions to look for when exploring the various options. Table of Contents:
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
Hospitality Podcasts: 22 Great Podcasts for Hospitality Experts
Hospitality podcasts are a great way to keep your finger on the pulse of the industry. Podcasts are an ideal way to stay up to date with the latest industry news and explore relevant topics in depth. Because they're an audio medium, they easily fit into your busy day. In
Expedia Partner Central Login Tips For More Revenue
Your Expedia Partner Central login can be the gateway to boosting revenue on your hotel properties. Whether you're an independent owner with a single establishment or a chain of hotels, knowing how to use Expedia Partner Central effectively can dramatically improve your revenue by attracting more guests and encouraging purchases.
Why is a Chatbot not Enough for Your Hotel Anymore?
When chatbots first appeared, they soon became part of many industries, and hospitality was no exception. They became a great tool to help hotel staffs deal with their high workload and the repetitive questions they must reply to daily. To provide guests with quick and instant answers in a fast