Best AI Use Cases and Strategies in Hotel Revenue Management
Question for Our Revenue Management Expert Panel: What are the most beneficial use cases and practical applications of AI in hotel revenue management? Where do you think the opportunities and pitfalls may lie? (Question by Alenka McMahon) Our Revenue Management Expert Panel Alenka McMahon - Managing Director, Hotel Revenue Services Limited Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Diego Fernández Pérez De Ponga - Director
A Comprehensive Overview of All Hotel Positions
Hotels offer a number of different career paths, thanks to the sheer range of hotel positions that exist. In order to find the best job for your skills, qualifications, and preferences, it is beneficial to have a rounded understanding of these different roles. In this article, you will find a comprehensive overview of the positions within a typical hotel. Table of Contents: Hotel Industry Overview Overview of All Hotel Positions Food & Beverage Front Office
Hotel Departments: Learn About All the 7 Sections of a Hotel
Hotel departments are the different sections that make up a hotel or resort business. A hotel is a complex system, requiring several departments to function and work together to create a cohesive whole. In this article, you'll learn all about the different departments required to run a hotel, from the front desk to accounts and credits. Table of Contents: What Is the Hotel Industry? What Are Successful Hotel Operations? What Are the Different Hotel Departments?
Hotel Facilities: Everything You Should Know About Facilities in Hotels
The right hotel facilities can make or break a business. Hotel trends may change, but there are some essential facilities that each hotel must offer its guests. Well-chosen and well-managed hotel facilities are vital to your revenue and your hotel's reputation. In this article, you'll learn about the facilities and their essentiality to your operation. Table of Contents: What Is the Hotel Industry? What Are Hotel Facilities? What Is the Difference Between Hotel Facilities and
Hotel Budget: Effective Budgeting Tips for Hoteliers
Establishing a hotel budget involves estimating revenue and expenditure over a defined period and establishing rules about how much money is available based on various factors, including changes in customer demand. In this article, you can access some effective budgeting tips for your hotel. Table of Contents: What Is the Hotel Industry? What Is Hotel Revenue Management? Why Is it Important to Strategize Your Hotel Budget? 7 Tips to Boost Your Hotel Budget Strategy 1. Forecast by Analyzing Historical Data 2. Create a Demand Calendar 3. Track Staff Productivity and Performance 4. Identify Annual Operational Factors 5. Take Incentives Into
Harnessing Hotel Business Intelligence: 5 Key Questions Your Data Should Answer
Embracing data-driven decision-making is vital for hotels looking to thrive in today's competitive environment. From identifying top revenue-generating channels to tracking total revenue per available room (TrevPAR) and managing costs, having access to interconnected data allows hoteliers to make quick, informed decisions that can boost operational efficiency, elevate the guest experience, and drive revenue growth. Unlocking Hotel Success with Data-Driven Business Intelligence Hotel business intelligence (BI) is key in this data-centric approach. By collecting and
How AI is Advancing Digital Marketing Strategies for Hotels
AI is infiltrating every aspect of life and business. With so much buzz around AI, it can be hard to identify where to most effectively use the technology and where to start implementing it in your hotel. Leveraging AI for Personalized Hotel Marketing and Revenue Growth AI has the ability to process vast amounts of data - and from a marketing perspective, it can be used to power and facilitate personalized digital and real-world experiences,
What Is TRevPar?
Total revenue per available room, or TRevPAR, is a KPI used by those within the hotel industry to assess business results. It is concerned with the total revenue generated from rooms and space available. As a result, it can play an important role in a revenue management strategy and provide
9 Tips to Increase Bookings Through Hotel Metasearch
Hotel metasearch platforms serve as an important distribution channel for businesses in the hospitality industry because many modern travelers will use the internet to shop around for the best rates and will turn to price comparison platforms to assist them with this. In this post, you will learn more about
5 Hotel Management Software Solutions Every Hotel Needs
For hotel owners, revenue management is incredibly important. It involves selling the right room at the right time and price to the right customer via the right distribution channel to maximize business results. To assist with this, many hotels use hotel management software packages. In this article, you will find