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
Embracing Hybrid Hospitality: A Blueprint for Boosting Hotel Revenue
In the ever-evolving landscape of the hospitality industry, it can feel hard to stay ahead of the curve – or even in the middle of it. However, changing habits, attitudes, and trends send a clear message: the status quo is no longer sufficient to meet the complex needs of modern guests. The solution? Embrace a flexible tech stack and adopt innovative revenue models. Enter hybrid hospitality – a game-changing concept that's redefining spaces, mindsets, and
What is the Role of Human Judgement in Revenue Management Decisions?
Question for Our Revenue Management Expert Panel: With so much technology available, how does human judgement factor into making revenue management decisions? Should the RMS ever be overruled by human judgement? (Question by Fabian Bartnick) Our Revenue Management Expert Panel Fabian Bartnick - Founder, Infinito Dr. Betsy Stringam-Bender - Professor of Hotels & Resorts, New Mexico State University Pablo Torres - Hotel Consultant, TSA Solutions Tanya Hadwick -
How Upselling Provides Low-Cost Revenue and Loyal Customers
All kinds of businesses use upselling to enhance their customer experience and maximize revenue on existing sales. From the McDonald’s server asking, “Do you want fries with that?”, to airlines offering seat upgrades. Upselling provides the opportunity to maximize the value of every customer. Not all upselling efforts are well-received — particularly efforts driven by the sole desire to make more money. If done correctly, upselling can bring you closer to your guests, earn more
The On-Site or Remote Work Debate in Hotel Revenue Management
Question for Our Revenue Management Expert Panel: As there has been a significant increase in hybrid and remote working over the last few years, should the role of revenue manager be on-site or remote? And why? (Question by Oleksii Kapichin) Our Revenue Management Expert Panel Tamie Matthews - Sales & Marketing Consultant, RevenYou Connor Vanderholm - CEO, Topline Diego Fernández Pérez De Ponga - Director of Revenue Management,
Rethinking Off-Season: Revenue Strategies Hoteliers Need to Follow
Unless you’re operating a ski resort or fortunate enough to have a property located in a year-round warm-weather travel destination, the autumn and winter months can be particularly slow for hoteliers. These low-season booking conditions can lead to some hoteliers adopting an ‘a busy hotel is a successful hotel’ strategy, accepting lower-rated business and relying on the in-house spend on food & beverage, spa, and ancillary services to boost revenue. While it might seem like
NRevPAR Clearly Explained!
Net revenue per available room, or NRevPAR, is used by those within the hotel industry as part of a wider revenue management strategy, helping them to assess overall business performance. As a KPI, the NRevPAR metric is similar to RevPAR, but factors in distribution costs. Therefore, it is arguably a more accurate performance indicator. What is NRevPAR? The NRevPAR metric is used to calculate the net revenue generated per available room in a hotel. In
The Benefits of Offering Multiple Payment Methods at Your Hotel
The world of hotel payments is everchanging. New payment methods are constantly being introduced into the market, from cash and bank transfers to credit cards and digital wallets. To satisfy guest expectations and encourage direct bookings, lodging operators must stay on top of emerging trends and offer the latest payment
The Importance of Benchmarking in Hotel Management
In the dynamic world of hotel management, every day is different. It can feel difficult to find the time to take stock of your property's performance, which can be a problem in such a competitive industry where staying ahead of the game is crucial. When navigating the industry's complexities, benchmarking
Basics of Revenue Management for Smaller Hotels
Revenue management stands for “Selling the right product to the right client at the right moment at the right price via the right distribution channel with the best cost efficiency”. But what does revenue management really mean for the extraordinary hotelier? What should you take care of in order to
Avoid These 3 Benchmarking Errors for Hotel Revenue Success
As a revenue manager, you're undoubtedly aware of the importance of gauging your hotel's performance to maintain a competitive edge in your market. Yet, how can you be certain that you're genuinely on par with, or preferably ahead of, your competitors? Enter benchmarking for hotel revenue management. Benchmarking for Hotel
Automation in Hotel Revenue Management: Yes, or No?
At the Asian American Hotel Owners Association’s annual event, Tyler Morse, chairman and CEO of MCR Development, recently shared a quote to inspire hoteliers to take revenue maximisation into their own hands: “Increase your rates; do it with confidence. … Stop wasting money … Buy smart technology… This is a
Are Attribute-Based Bookings the New Standard for Hotels?
The attribute model has become quite a buzzword in the hospitality industry in recent years. But what exactly is attribute-based booking, otherwise known as attribute-based selling? And which advantages can it bring your upselling initiative? Let’s see what the experts say, so you can make up your mind about whether