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 the right price. Within the hotel industry, this typically means selling the right room to the right guest(s) at the best possible time for the
Hotel Investments: How To Become a Successful Hotel Investor
Hotel investments can provide an exciting opportunity for first-time property investors to buy into a great industry with excellent earning potential or for established property investors to diversify their portfolios and capitalize on all the service industry offers. In this article, you can learn about hotel investments, their various forms, advantages, and the best approaches to ensure long-term success with minimal risk. Table of Contents: What is the Hotel Industry? What Are Hotel Investments? Why
Role of a Revenue Manager is Shifting Thanks to Automation
Like much of our world today, the hospitality industry is constantly changing and evolving beyond what revenue managers and leaders of the past could have imagined. During unprecedented change, automation and new technology have become essential to successfully navigating the post-COVID hospitality landscape. Revenue Managers Becoming Strategists But with any change, comes reservation and distrust. As the industry continues to automate, some hoteliers worry that automated systems may not be able to respond to change
Smart Hotel Solutions: 7 Ways to Make Your Hotel Smarter
Smart hotel rooms are creating a lot of buzz in the hospitality industry right now, emerging as one of the premier trends of the day. Clients are drawn to smart hotels for several different reasons, including enhanced convenience and greater scope for personalizing their stay. More and more hotel owners
The Best Hotel Job Boards to Boost Your Career
The travel and tourism industry offers many career options, and hotel jobs are among the most in-demand and rewarding. If you are seeking work within the hotel industry, several dedicated job boards provide information about current vacancies. In this article, you will be able to find more information about hotel
Tips to Find Your Next Hotel Manager Job!
The role of a hotel manager is challenging and rewarding, requiring you to understand various hotel strategies and management techniques. However, to find your next hotel manager job, you will need to understand the nature of the role, ensure you meet the minimum requirements, and know where to look. Here,