6 Ways Your Hotel Might be Missing Revenue Opportunities
You'll probably agree that seizing revenue opportunities is more important now than ever - especially with costs increasing in every area of hotel operations and demand only recovering. Otherwise, your property's profitability could take a severe hit, and its long-term business success may be at risk. Luckily, there are many things you can do to capitalize on demand and get your hotel through these times successfully. 6 Ways Your Hotel Might be Missing Revenue Opportunities
3 Ways to Streamline Upselling Across Your Entire Hotel Chain
Once it’s in place, an automated upselling system brings countless advantages, like a more personalised guest experience, increased revenue and a more efficient workflow. Achieving these results at a single property may feel relatively straightforward. But how can you replicate them at all hotels across your chain or brand? 1. Facilitate System Adoption The easier you make it for teams at your brand’s hotels to begin using your new system, the more likely they are
By How Much Can Upselling Boost Your Hotel’s Revenue?
The importance of upselling within the hotel industry has increased over recent years. No wonder, because a good upselling strategy can significantly boost hotels revenue. But is upselling beneficial for every type of hotel? Is it worth for your hotel? In this article, you find a comparison of the upsell performance per type of hotel, based on a recent benchmark report. At the bottom of the article, you also find a link to download the
How will TripAdvisor Plus impact Hotel Revenue Management?
Question for Our Revenue Management Expert Panel: How will hotel revenue management be affected by the introduction of the new “TripAdvisor Plus” from TripAdvisor? Our Revenue Management Expert Panel Paulo Aragao - Revenue Management Professional Patrick Wimble - Managing Director, Lightbulb Consulting Theresa Prins - Founder, Revenue Resolutions Pablo Torres - Hotel Consultant, TSA Solutions Edyta Walczak - Cluster Revenue Manager, Arora Hotels Karin van Rhee -Lecturer, Hotel
By How Much Can Upselling Boost Your Hotel’s Revenue?
The importance of upselling within the hotel industry has increased over recent years. No wonder, because a good upselling strategy can significantly boost hotels revenue. But is upselling beneficial for every type of hotel? Is it worth for your hotel? In this article, you find a comparison of the upsell performance per type of hotel, based on a recent benchmark report. At the bottom of the article, you also find a link to download the
How will TripAdvisor Plus impact Hotel Revenue Management?
Question for Our Revenue Management Expert Panel: How will hotel revenue management be affected by the introduction of the new “TripAdvisor Plus” from TripAdvisor? Our Revenue Management Expert Panel Paulo Aragao - Revenue Management Professional Patrick Wimble - Managing Director, Lightbulb Consulting Theresa Prins - Founder, Revenue Resolutions Pablo Torres - Hotel Consultant, TSA Solutions Edyta Walczak - Cluster Revenue Manager, Arora Hotels Karin van Rhee -Lecturer, Hotel
What is TRevPar?
What is TRevPar? TRevPAR, or Total Revenue Per Available Room, is a comprehensive metric in the hospitality industry measuring total revenue (including rooms, food, and other services) earned per available room. It provides a holistic view of a hotel's financial performance, which is crucial for strategic decision-making and optimizing revenue streams beyond just room sales. Key Takeaways Comprehensive Revenue Assessment: TRevPAR evaluates total revenue (room, food, etc.) per available room, offering a broader view of
How Can Revenue Management Ensure Collaboration Amongst Hotel Teams?
Question for Our Revenue Management Expert Panel: Successful Total Revenue Management strategies rely on great communication between all hotel departments. What tips can you offer to Revenue Management teams to help ensure a collaborative effort? Our Revenue Management Expert Panel Patrick Wimble -
How Can Hotels Benefit Most from Automation in Revenue Management?
Question for Our Revenue Management Expert Panel: Automation in revenue management can mean significant time-saving. Where can automation bring the most value to a hotel revenue management team and what tasks are best suited to automation? Our Revenue Management Expert Panel Dr. Betsy
10 Tips in Building a Business Case for an RMS
When you're trying to get your team on board to purchase a revenue management system (RMS), there are a few key things you'll need to keep in mind. Of course, you already know the benefits of utilizing an RMS. Your company will earn more revenue, become more efficient, free up
Time To Value: A Key Metric to Help You Identify The Best Tech for Your Hotel
Technology is becoming more and more ingrained into the daily operations of today’s hoteliers, with hotel technology itself evolving in leaps and bounds. As hotel tech platforms and tools become more advanced and marketing-savvy, it becomes increasingly difficult for hoteliers to sift through the noise to find the best tools
The Role of Hotel Reception Staff on Revenue Management
Your hotel can do everything right, but if your customers aren’t happy, that can lead to a loss of revenue. Why? Unhappy customers leave negative reviews, and that affects future bookings. The Importance of a Positive Hotel Reputation Recently, while browsing some online property reviews, one stood out. "... we
The Five Boxes Your New Revenue Management (RMS) Should Check
Today things are different. There's a greater variety of more intuitive RMSs that are easy to use for your team and can be set up faster than legacy systems. Thanks to this development, finding an RMS doesn't have to be hard anymore. In the following article, you'll discover how to