RevPAR versus GOPPAR
Revenue per available room, or RevPAR, and gross operating profit per available room, or GOPPAR, are two of the most vital KPIs available to hotel managers. Both form an important part of any effective revenue management strategy. Both metrics concern themselves with occupancy rates, but they detail very different things, as one is centered around money being brought in, while the other is based on overall profit. How Do You Calculate RevPAR and GOPPAR? The
RevPAR versus RevPOR
Revenue per available room, or RevPAR, and revenue per occupied room, or RevPOR, are two KPIs used within the hotel industry, especially for revenue management purposes. Although the two metrics have similar names, what they measure is quite different, meaning neither KPI is necessarily more useful than the other. How Do You Calculate RevPAR and RevPOR? The formulas for working out the revenue management metrics RevPAR and RevPOR are as follows: RevPAR = Rooms Revenue
4 Reasons Why Resorts Outsource Revenue Management
For resorts, hotels, and other hospitality companies, revenue management is vital, allowing financial results to be optimized. However, many outsource revenue management to a third party rather than handling it internally, because it requires specialist knowledge and tools. In this article, you will learn more about revenue management strategies and some of the key reasons why they are often outsourced. Defining Revenue Management Revenue management is a strategy that maximizes financial results through data and
8 Ways to Improve Customer Experience in the Hospitality Industry
For hotels and other businesses operating in hospitality management, customer experience has developed into one of the single most important battlegrounds, and those who excel in this area are likely to gain a significant competitive advantage over rivals. With that in mind, this article will provide you with eight of the most effective ways to improve the experience you are providing for your customers. 8 Ways to Improve Your Customer Experience Find the eight ways
Where to Stay: A Complete Guide to Tourism Accommodation
Accommodation in tourism refers to various places to stay overnight, which are geared towards tourists. Some of the most common examples include hotels, bed and breakfasts, hostels and resorts. The role of accommodation is crucial, as people traveling to new locations need a place to sleep. Accommodation businesses play a major part in the overall tourism experience, providing shelter, hospitality, and security. In this article, you can explore the various types of accommodation in the tourism sector and gain a deeper understanding of how they are defined and what they each have to offer guests. Table of Contents: What is
The Benefits of Reputation Management Software for Travel Companies
Companies operating in the travel and tourism industry can live or die based on their online reputation. For this reason, a reputation management strategy is crucial, and reputation management software can play a major role in achieving sustainable business success. Here, you will find out more about the importance of a good reputation, the value of high-quality reputation software packages, and the main features you should look out for. Table of Contents: Understanding the Word
Benefits of Hyper-Personalisation in Revenue Management
Question for Our Revenue Management Expert Panel: What are the benefits of hyper-personalisation in revenue management? What do hotels need to do in order to achieve hyper-personalisation, and are their efforts worth it? (Question by Nikolas Hall)  Our Revenue Management Expert Panel Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Diego Fernández Pérez De Ponga - Director of Revenue Management, Palladium Hotel Group Krunal Shah
Hospitality Meaning: Understanding the Hospitality Industry
Hospitality is a large and complex industry, meaning delivering services and solutions for guests. The hospitality sector is intimately connected to the hotel and travel industries yet distinct from both. "Hospitality" isn't just a set of services -- it's a culture. In this article, you'll learn about hospitality as an
Slow Tourism: What It Is, Its Importance, and Examples
Slow tourism is an emerging tourism trend that serves as an antidote to some of the negative aspects of mass tourism. At the same time, slow tourism places a strong emphasis on sustainability, engagement with local culture, and fully appreciating travel experiences. Here, you can learn more about slow tourism,
Restaurant Management Software: A Complete Overview
Investing in the right restaurant management software can greatly improve your business's efficiency and overall effectiveness. Of course, to find the best solutions for your restaurant, you need to understand the different types of software on the market and how they work. This article will explore various restaurant management solutions,