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
Unique Direct Booking Perks: The Power of Travel Assistance Insurance
Today, as travelers seek a blend of convenience, security, and added value, hoteliers can distinguish themselves by providing incentives that resonate deeply with potential guests. Travel assistance insurance has emerged as a powerful tool that not only sets hotel’s direct channel offerings apart but also empowers guests with peace of mind and solidifies a brand's position as a go-to choice for travelers. The Power of Tailored Incentives The hospitality landscape is witnessing a transformative shift
Total Revenue Management: How Hotels Can Maximize Their Revenue
Total Revenue Management Total Revenue Management is a comprehensive approach to maximizing revenue across all business segments, not just room sales in a hospitality context. It involves strategically managing and optimizing all revenue streams, including food and beverage, meetings, and other services. This approach is crucial for enhancing overall profitability, better understanding customer value, and making informed business decisions that go beyond traditional room pricing strategies. Key Takeaways Focus on All Revenue Streams: Implement strategies
Top Tips for Building a B2B Revenue Management Strategy for Hotels
Question for Our Revenue Management Expert Panel: What advice can you offer to hotels implementing a B2B revenue management strategy? How does the strategy differ compared to a B2C audience and what are your top tips for success? Our Revenue Management Expert Panel Krunal Shah - Director of Revenue Management, The Biltmore Mayfair, LXR Hotels & Resorts Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Diego
Unique Direct Booking Perks: The Power of Travel Assistance Insurance
Today, as travelers seek a blend of convenience, security, and added value, hoteliers can distinguish themselves by providing incentives that resonate deeply with potential guests. Travel assistance insurance has emerged as a powerful tool that not only sets hotel’s direct channel offerings apart but also empowers guests with peace of mind and solidifies a brand's position as a go-to choice for travelers. The Power of Tailored Incentives The hospitality landscape is witnessing a transformative shift
Total Revenue Management: How Hotels Can Maximize Their Revenue
Total Revenue Management Total Revenue Management is a comprehensive approach to maximizing revenue across all business segments, not just room sales in a hospitality context. It involves strategically managing and optimizing all revenue streams, including food and beverage, meetings, and other services. This approach is crucial for enhancing overall profitability, better understanding customer value, and making informed business decisions that go beyond traditional room pricing strategies. Key Takeaways Focus on All Revenue Streams: Implement strategies
Top Tips for Building a B2B Revenue Management Strategy for Hotels
Question for Our Revenue Management Expert Panel: What advice can you offer to hotels implementing a B2B revenue management strategy? How does the strategy differ compared to a B2C audience and what are your top tips for success? Our Revenue Management Expert Panel Krunal Shah - Director of Revenue Management, The Biltmore Mayfair, LXR Hotels & Resorts Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Diego
Revenue Science Essentials: The 3 Pillars of Dynamic Pricing
When applying revenue science to your hotel or resort’s dynamic pricing tactics, there are three areas ripe for optimization: demand, capacity, and price sensitivity. Taking the time to review the basics and reassess how each of these factors into your revenue strategy is critical to positioning your hospitality business for
What Tech Trends Are Impacting Revenue and Guest Experiences In 2023?
Question for Our Revenue Management Expert Panel: What Tech Trends Are Impacting Revenue and Guest Experiences In 2023? Our Revenue Management Expert Panel Chaya Kowal - Cluster Director Of Revenue Management, Potato Head Family Diego Fernández Pérez De Ponga - Director of Revenue
Streamlining F&B Operations: Revenue Management Strategies for Success
In today's competitive landscape, optimizing revenue and maximizing profitability is crucial for success in the food and beverage (F&B) industry. F&B establishments need to implement effective revenue management strategies to achieve these goals. Streamlining F&B Operations Businesses can streamline their operations and enhance their financial performance by adopting a systematic
Strategies to Optimize Your Holiday Park’s Revenue Next Summer
Was your summer a revenue bonanza, or more of a busy bust? The summer busy season is undoubtedly a critical stretch for holiday park owners. For many, it's the time to bolster your budgets and make up for the slower months. While plenty of work must be done to ensure
15 Strategies to Boost Hotel Food and Beverage Revenue
Managing hotel restaurants may be challenging. Ultimately, one might say maintaining a hotel as a whole is likely enough effort in and of itself, not even to mention trying to figure out how to ensure the hotel restaurant operates to its fullest potential. However, in the long run, it pays
Supercharge Your Hotel’s Revenue Using Strategic Pricing
In the hospitality industry, strategic revenue management allows hotels to achieve consistent profitability, no matter how the market changes. In revenue management, your goal is to fill rooms and maximize profitability on each booking in peak and off-peak seasons. Strategic Pricing to Increase Your Hotel's Revenue This article will teach