Boost Your Hotel Profits With An Interim Revenue Manager
Revenue management is more of a philosophy than a set-in-stone strategy. Regarding the hotel and hospitality industry, revenue management is all about selling the right room to the right guest at the best possible time, and always at the best price. Moreover, a good revenue manager will be able to identify which distribution channels are best suited for these efforts. Ultimately, revenue management is about maximizing profits and revenue while always remaining cost-efficient. Whether it's
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
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The hospitality industry isn’t slowing down, and outdated property management system (PMS) solutions are dragging hotels behind.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 Threats Are Real and Costly Hackers love hotels. Guest data—credit card numbers, passport details, and personal preferences—fetches a high price on the dark web. A
Aviation Careers: An Overview of Different Aviation Positions
Aviation is a field that offers many different career opportunities, and it is precisely this variety in possible aviation careers that means there are options for almost anyone. In this article, you will be able to learn much more about the different jobs in this area and the main skills required to succeed. Table of Contents: What You Need to Know About the Aviation Industry An Overview of Different Aviation Careers Video Aviation Careers Education
6 Benefits of Sustainable Tourism Development
Tourism development refers to the creation and maintenance of a tourism industry within a particular location, and sustainable tourism development is concerned with ensuring this process takes factors like environmental, cultural, and economic sustainability into account. Here, you can find out more about sustainability within tourism. Table of Contents: What Is Sustainable Tourism Development? Key Stakeholders of Sustainable Tourism Development Why Is Sustainable Tourism Development Important? Environmental Impact Socio-Cultural Impact Economic Impact 6 Benefits of
Restaurant Meaning: What You Need to Know About the Industry
"Restaurant", a business or organization that offers food and drink to paying guests, is a word with a long history and many different interpretations. Restaurants of one kind or another are popular worldwide, generating huge amounts of economic activity. In this article, you'll learn everything you need to know about
Small but Mighty: 3 Strategies to Increase Your Hotel’s Website Conversion
You've spent precious time and resources building the best hotel website, yet you're not seeing much of an improvement in converting those lookers into bookers? Your benchmarking insights show that your hotel's website conversion is underperforming compared to the market, but you're unsure how to act on it? In this
Restaurant Chatbots: What Are They, Their Use and Benefits
Restaurant chatbots are playing an increasingly valuable role in hospitality, helping businesses deliver customer service around the clock while saving both time and money. In this article, you can learn more about these chatbots, how they work, why they are used, and how they can be beneficial. Table of Contents: