Hotel Room Types & Room Pricing Tips for Hoteliers
Deciding what kinds of accommodation to offer your guests can be complex. In this article, you'll learn about the different types of hotel rooms, how they're categorized, and what types of guests they may attract. You'll learn about room categories based on use, number of occupants, and purpose, as well as pricing strategies for every room type. Table of Contents: What Is the Hotel Industry? The Necessity of Different Hotel Room Types Most Common Hotel
Tips for Choosing a Revenue Management System for Your Hotel
Revenue management systems (RMS) are a new way of working for the vast majority of hotels – in fact, for most, this kind of software was not even an option before. But times are changing. Property management systems (PMS) are becoming more user-friendly, and such systems can help you simplify your life, save you time, and result in more revenue. Dynamic pricing automation is now available for even the smallest hotels. This article can help
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 your next summer's guests have an excellent experience, it's also important to consider your approach to revenue management before this flurry of activity begins. Where
Forward-Looking Data to Understand Guest Behavior and Upcoming Trends
Question for Our Revenue Management Expert Panel: What Forward-Looking Data Should Hotels Use to Understand Guest Behavior and Upcoming Trends? Our Revenue Management Expert Panel Nikolas Hall - Principal Owner, N. Hall Consulting Chaya Kowal- Cluster Director Of Revenue Management, Potato Head Family Damiano Zennaro - Founder, DZ Consulting Heiko Rieder - Vice President Business Development, Hirmer Hospitality and Travel Charme Hotels Fabian Bartnick - Founder, Infinito &
Hostel Management: A Complete Guide to Successful Hostel Operations
Hostel management is the process of overseeing and influencing day-to-day operations within a hostel. Successful management of a hostel will focus on achieving business objectives and delivering a positive guest experience. Effective management is important for maximizing operational efficiency, customer satisfaction and financial outcomes. It will involve taking a strategic approach and tactically implementing established best practices. In this article, you will discover tried and tested techniques and strategies that will enable you to achieve success within the field of hostel management and learn about how to overcome some of the common challenges. Table of Contents: Understanding the Fundamentals of
Total Revenue Management: How Hotels Can Maximize Their Revenue
Total revenue management is broadly defined as managing each revenue source to the highest profitability. By incorporating multiple revenue points of sale like food and beverage, banqueting and conferencing facilities, spa, retail, leisure activities, and others with room revenue management, total revenue management assists hotels in achieving their goal of increasing revenue and profitability in a competitive market. Table of Contents: Total Revenue Management is Here to Stay What Is Total Revenue Management (TRM)? Essential
3 Key Questions for Evaluating RMS Options Before Budget Season
Hotel budgeting season is right around the corner, and many hoteliers are getting ready to roll up their sleeves and start making tough financial decisions as they look to align investment priorities with next year’s budget projections. This is often a challenging and time-consuming process, but it’s also an opportunity to think through a strategic vision and evaluate the tools and resources needed to achieve these goals. Investing in an RMS is a High Priority
Social Media Marketing for Restaurants: Best Practices
Social media marketing for restaurants is one of the most powerful tools for increasing footfall and enhancing revenue. Most people use social media and are likely to look for restaurant recommendations on their favorite platforms. Marketing on social media is the ideal way to promote your business. In this article,
How Can Voice Control Benefit the Hospitality Industry?
Successful leaders in hospitality management understand the importance of embracing new technology, especially when it can improve the customer experience. One example of a technology trend that has seen increased adoption rates in recent times is voice control technology, which can significantly benefit hotel owners. In this post, you will
8 Ways to Improve Customer Experience in the Travel Industry
Hotels, airlines, car rental companies, and others in the travel industry prioritize the customer experience as one of the most effective competitive differentiators. Indeed, companies that deliver in this area are more likely to generate customer loyalty and build positive reputations. In this article, you will find eight of the