STAAH

NOVEMBER 8, 2022

Like many other areas in travel and hospitality, revenue management has dramatically changed in the last two years. We spoke to leading revenue managers on what they think lies ahead. We spoke to leading revenue managers on what they think lies ahead. Additional revenue streams. Shorter lead times.

Blog 71

Blog Book Pricing Information 71

Revfine

FEBRUARY 7, 2023

Question for Our Revenue Management Expert Panel: What are your predictions for the revenue management trends and strategies we can expect to see in 2023?

59

59

Duetto Cloud

OCTOBER 13, 2022

Considering adopting a revenue management system (RMS) for your hotel business? Keep on top of what’s happening in the market with our future predictions for 2022-2023 and the trends that we think will shape the RMS landscape in the year ahead.

Marketing 52

Marketing 52

Duetto Cloud

FEBRUARY 14, 2023

2022 was a year when we saw a significant move to cloud-based technology. Staffing pressures and market variability meant that hotels needed to implement systems that could harness and process extraordinary amounts of data without having to hire large teams of specialists.

Marketing 52

Marketing 52

InnQuest

APRIL 5, 2023

Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yield management in hotels, particularly in hotel revenue management. Furthermore, we will provide examples of successful yield management strategies and offer tips on how to implement them in your hotel.

Pricing 220

Pricing Book Marketing Blog 220

Hotelogix

APRIL 22, 2024

Importance of Analysing Hotel Data Hotel data encompasses various information, from guest bookings and preferences to revenue figures and occupancy rates.   Strategic revenue management with hotel data Effective revenue management is critical to your hotel's profitability. What is Hotel Data?

Guest Satisfaction 130

Guest Satisfaction Book Pricing Reservations 130

Hotelogix

MAY 16, 2024

It's about exceeding them while efficiently managing your operations. Streamline operations with a cloud-based hotel property management system (PMS) Upgrading to a cloud-based Hotel PMS can significantly improve hotel operational efficiency.   Read Also: Best Practices to Leverage Hotel Data for Efficient Hotel Operations 2.

Front Desk Operations 130

Front Desk Operations Property Management Book Reservations 130

Revenue Hub

MAY 15, 2024

Revenue performance management is a strategic approach to maximizing a hotel’s revenue potential by understanding and meeting customer needs. Definition and Key Components Revenue Performance Management systematically analyzes and optimizes a hotel’s revenue streams.

Budgeting 74

Budgeting Pricing Definition Article 74

InnQuest

OCTOBER 17, 2023

That being said, this blog explores some best practices for avoiding overbooking in the hotel industry as well as how to accurately track occupancy rates and manage inventory across multiple channels. They are a result of a delicate balance between maximizing revenue and providing guest satisfaction.

Reservations 221

Reservations Guest Satisfaction Book Pricing 221

InnQuest

MARCH 2, 2023

Hotel management is a complex and challenging task requiring business acumen and customer service skills. Implement a Sales and Revenue Management System One of the essential aspects of hotel management is maximizing revenue. For example, your target market is mainly business travelers.

Customer Service 224

Customer Service Training Guest Satisfaction Property Management 224

Revenue Hub

APRIL 9, 2024

Optimizing Revenue per Available Room (RevPAR) is one of the key focuses of most hoteliers. Navigating the complex world of revenue management requires innovative solutions. While dedicated revenue management software is a component of this process, all of your technology must work together to increase your bottom line.

Book 102

Book Reservations Article Marketing 102

Modern Restaurant Management

MARCH 23, 2023

Less than 24 hours before Silicon Valley Bank failed, restaurant analysts at Revenue Management Solution s released our monthly impact report. But in 2023, month-over-month trend lines have evened out. “Fallout from the Silicon Bank failure is unlikely to affect QSR performance trends,” he said in a conversation.

Marketing 173

Marketing Pricing Budgeting 173

STAAH

APRIL 2, 2024

Effective revenue management provides hoteliers with a clear roadmap for pricing and optimisation, while acting as a gauge to measure success. What is a Revenue Management Solution for Hotels? What is a Revenue Management Solution for Hotels? How Do They Work? How Do They Work?

Pricing 80

Pricing Book Property Management Marketing 80

Revenue Hub

MAY 9, 2024

They directly engage with prospects and clients, transforming opportunities into revenue through aggression and direct action aimed at securing business. They bridge the gap between revenue management’s defensive strategies and sales’ offensive goals, ensuring the hotel’s message reaches its target.

Article 87

Article Marketing Book Pricing 87

Lodging Magazine

APRIL 26, 2024

Operating performance indicators (RevPAR and portfolio growth) are trending positively, and the group has continued to manage its balance sheet in line with its commitments.

Magazine 105

Magazine Marketing 105

eZee Absolute

MAY 13, 2024

Well, the answer lies in how well you’re using your Hotel Revenue Management System (RMS) reports. They unlock valuable insights into guest behavior, pricing trends, and competitor data. But with so many reports available, how do you find the ones essential for maximizing your hotel’s revenue?

Pricing 52

Pricing Book Reservations Budgeting 52

InnQuest

SEPTEMBER 5, 2023

At a glance: What is Hotel Inventory Management? Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Firstly, What is Hotel Inventory Management? Food and Beverage: Restaurants, bars and room service are vital revenue streams.

Guest Satisfaction 218

Guest Satisfaction Maintenance Pricing Book 218

Revenue Hub

MARCH 22, 2024

NB: This is an article from Aro Digital Subscribe to our weekly newsletter and stay up to date With advancement of data analytics technologies, hoteliers can now harness vast pools of data to gain insights and make informed strategic choices while drive direct revenue growth.

Pricing 99

Pricing Guest Satisfaction Information Book 99

Revenue Hub

MARCH 15, 2024

Hoteliers and revenue managers rely on effective hotel price monitoring to optimize revenue and maximize profitability. Let’s check them out: Comparison Websites and Search Engines: Popular search engines like Trivago, Kayak, and Google Hotel Search offer hoteliers valuable insights into market trends and competitor pricing.

Pricing 88

Pricing Budgeting Article Information 88

Revenue Hub

APRIL 17, 2024

Now, Artificial Intelligence (AI) is set to transform the way hotels manage revenue and stay competitive. RMS Can’t Provide Real-Time Information You need up-to-the-minute information about your guests, market conditions, and current trends to accurately forecast future occupancy and profitability.

Pricing 103

Pricing Information Marketing Article 103

Revenue Hub

APRIL 30, 2024

Hotel revenue management is surrounded by myths, from the idea that it only concerns room rates to the notion that strategies are ‘set and forget’. This article debunks these misconceptions, highlighting the complex nature of revenue management that goes beyond pricing to include market analysis and customer behavior.

Pricing 82

Pricing Information Article Marketing 82

Revenue Hub

JANUARY 10, 2024

In the hospitality industry, achieving optimal revenue performance used to be the domain of larger, full-service hotels, with smaller and select-service hotels often left to navigate revenue management independently. Extended expert team : External experts work as part of your team, focusing on optimizing revenue.

Pricing 81

Pricing Article Marketing Hospitality Management 81

Revenue Hub

MARCH 18, 2024

ChatGPT says the importance of analytics in the hospitality industry cannot be overstated, as it provides several critical benefits: Improved Customer Experience: Analytics can help understand customer preferences, behaviors, and trends by analyzing data from various sources like booking patterns, reviews, and feedback.

Travel and Tourism 91

Travel and Tourism Customer Service Guest Satisfaction Article 91

Revenue Hub

AUGUST 22, 2023

To help you conduct this beautiful symphony, let’s step back and look at the broader, macro-level data trends you should be paying attention to in the realm of revenue management. From seasonal fluctuations to global events, external factors significantly impact your hotel’s revenue. Industry benchmarks provide an answer.

Travel and Tourism 83

Travel and Tourism Guest Satisfaction Book Article 83

Revenue Hub

JANUARY 23, 2024

These establishments, unlike their year-round counterparts, navigate a landscape defined by limited operational periods, fluctuating demand, the need for occupancy optimization, and intricate resource management. This involves a keen understanding of market trends and customer behaviors to adapt staffing levels accordingly.

Pricing 91

Pricing Article Marketing Events 91

Revenue Hub

MARCH 25, 2024

The role of the hotel revenue manager, while foundational to maximizing a hotel’s room revenue, has become increasingly operational. Revenue managers often find themselves in a tunnel-vision scenario, fixated on filling rooms to the detriment of broader revenue opportunities.

Strategic Planning 94

Strategic Planning Guest Satisfaction Article Marketing 94

Revenue Hub

DECEMBER 6, 2023

Revenue management systems play a critical role in the hospitality industry. Traditionally, these systems attempt to predict future demand from past trends to optimize pricing. The core assumption of revenue management used to be that past trends are the best way to predict future performance.

Pricing 94

Pricing Information Article Marketing 94

Revenue Hub

DECEMBER 4, 2023

This new focus acknowledges that while revenue is crucial, it is the profitability that ultimately determines a hotel’s financial health and success. The Evolution of Hotel Revenue Management In its early stages, hotel revenue management was a game of numbers – it was all about filling rooms and adjusting prices based on demand.

Guest Satisfaction 103

Guest Satisfaction Article Pricing Information 103

STAAH

APRIL 16, 2024

Hoteliers need to employ smart strategies to optimize revenue and profitability. One of the most powerful tools in their arsenal is a robust Revenue Management Solution (RMS). This enables hoteliers to adjust room rates dynamically to maximize revenue based on current market conditions.

Workflow Management 79

Workflow Management Pricing Training Book 79

Modern Restaurant Management

JANUARY 31, 2022

In December 2021, average check was up 22 percent compared to the same period in 2019 and sales were up eight percent, according to Revenue Management Solutions, which released sales, traffic and average check trends for QSR restaurants in December 2021. Both are the biggest increases ever recorded by BLS. ”

Pricing 189

Pricing 189

Revenue Hub

JUNE 21, 2023

In the fast-paced world of revenue management, accurate forecasting plays a pivotal role in optimizing profitability and maximizing revenue potential. Accurate forecasting serves as the bedrock of revenue management, enabling businesses to make informed decisions based on anticipated demand.

Pricing 94

Pricing Article Information Marketing 94

Revenue Hub

DECEMBER 4, 2023

Whether it’s understanding booking trends, predicting revenue streams, or evaluating market demand, these KPIs are the foundation for insightful decision-making and long-term success in managing a hotel. Trends in these markets can significantly impact future bookings.

Book 95

Book Article Blog Pricing 95

Revfine

OCTOBER 4, 2023

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.

75

75

Hotel Business

MAY 8, 2024

Having joined Hospitality America in 2016, Holloway has had various roles within the company, including VP, revenue management and regional director, revenue management. Hospitality America has promoted Leigh Holloway to chief strategy officer (CSO) under the leadership of Ben Campbell, president/CEO Ben Campbell.

Strategic Planning 59

Strategic Planning Marketing 59

Revenue Hub

NOVEMBER 1, 2023

Some hoteliers treat revenue management as an occasional task to consider when it suits them. NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners Often, these hoteliers misunderstand revenue management as a discount tool without realizing it touches every aspect of the business.

Pricing 88

Pricing Reservations Article Information 88

Revfine

NOVEMBER 19, 2023

As we forge ahead into 2023 and 2024, the landscape of revenue management within this sector is undergoing transformative changes. Revenue Management Trends in the The post The Development of Revenue Management in the Hospitality Industry appeared first on Revfine.com.

Marketing 79

Marketing 79

Revenue Hub

FEBRUARY 29, 2024

In the fast-paced world of hospitality, hoteliers often feel like they’re walking a tightrope, trying to juggle selling out with maximizing revenue. Today, let’s explore an approach to hotel inventory management that streamlines this balancing act and delivers better results. But what if there’s a simpler way?

Guest Satisfaction 92

Guest Satisfaction Pricing Article Accounting 92