Hotel Industry

Short-Term Rental Data: A New Technique to Forecast Demand at Your Hotel

Revfine.com2024-04-10T16:59:43+02:00

The hospitality sector has long underestimated the influence of short-term rental accommodation on their operations, viewing it as a specialized lodging type that wouldn't impact conventional hotel reservations. However, the swift expansion of short-term rentals, spearheaded by organizations like Airbnb and VRBO, has made an undeniable mark on the hotel industry. The Importance of Short-Term Rental Bookings There's a growing

Short-Term Rental Data: A New Technique to Forecast Demand at Your HotelRevfine.com2024-04-10T16:59:43+02:00

Guest Expectations in 2024: 8 Trends You Should Be Aware of

Revfine.com2024-02-26T17:27:28+01:00

As time passes and technology keeps evolving, we enter into a new era of guest expectations. It's no longer enough to simply meet their needs, and the challenge now lies in exceeding them. In this dynamic landscape, where every guest is an insightful traveler armed with high expectations, how can you ensure your property fulfills those expectations and stands out?

Guest Expectations in 2024: 8 Trends You Should Be Aware ofRevfine.com2024-02-26T17:27:28+01:00

What Does EBITDA Stand for?

Martijn Barten2024-06-04T21:07:07+02:00

Earnings before interest, taxes, depreciation, amortization, or EBITDA for short, is a KPI becoming increasingly prevalent in hotel management. Sometimes referred to as operating cash flow, the metric can be used to determine the operational profitability of a business, taking into account only its key daily running costs. Table of Contents: What Is EBITDA? Why Is EBITDA Important? What Is

What Does EBITDA Stand for?Martijn Barten2024-06-04T21:07:07+02:00

Is Conversational AI a Good Fit for Guest Communications?

Revfine.com2024-12-20T15:07:01+01:00

The power of Artificial Intelligence (AI) has been making waves in the hospitality industry. Considering rapid developments in AI-based hotel tech solutions, rising expectations of tech-savvy travelers, and challenges the industry faces, let’s explore the fit of conversational AI in guest communications, as well as its role and benefits. Beyond the Hype: Sophistication of Conversational AI Before exploring the answer

Is Conversational AI a Good Fit for Guest Communications?Revfine.com2024-12-20T15:07:01+01:00

What Is TRevPar?

Martijn Barten2024-06-04T21:49:45+02:00

Total revenue per available room, or TRevPAR, is a KPI used by those within the hotel industry to assess business results. It is concerned with the total revenue generated from rooms and space available. As a result, it can play an important role in a revenue management strategy and provide a useful snapshot of overall performance. What Does TRevPAR Stand

What Is TRevPar?Martijn Barten2024-06-04T21:49:45+02:00

9 Tips to Increase Bookings Through Hotel Metasearch

Martijn Barten2024-06-04T21:19:38+02:00

Hotel metasearch platforms serve as an important distribution channel for businesses in the hospitality industry because many modern travelers will use the internet to shop around for the best rates and will turn to price comparison platforms to assist them with this. In this post, you will learn more about why the best hotel management strategies utilize hotel metasearch, and

9 Tips to Increase Bookings Through Hotel MetasearchMartijn Barten2024-06-04T21:19:38+02:00

5 Hotel Management Software Solutions Every Hotel Needs

Martijn Barten2024-06-04T21:58:16+02:00

For hotel owners, revenue management is incredibly important. It involves selling the right room at the right time and price to the right customer via the right distribution channel to maximize business results. To assist with this, many hotels use hotel management software packages. In this article, you will find the five most important software solutions within the hospitality industry.

5 Hotel Management Software Solutions Every Hotel NeedsMartijn Barten2024-06-04T21:58:16+02:00

Google Hotel Ads Guide – How Hotels Increase Bookings With Google

Martijn Barten2024-06-04T21:53:37+02:00

Intelligent use of the Google Hotel Ads platform can significantly enhance any hotel marketing strategy, providing much-needed visibility within Google search engine results pages and other services, such as Google Maps. In this article, you will learn more about Google Hotel Ads, how it works, why it is so beneficial, and how it differs from other services, such as online

Google Hotel Ads Guide – How Hotels Increase Bookings With GoogleMartijn Barten2024-06-04T21:53:37+02:00

Hotel STAR Report: Clear Introduction for Hoteliers

Martijn Barten2024-03-22T10:44:55+01:00

Hotel STAR Report The Hotel STAR Report is a critical performance benchmarking tool in the hospitality industry, providing detailed revenue and occupancy data compared to competitors. It is important because it helps hoteliers make informed pricing, marketing, and operational decisions by understanding their market position and identifying trends. Ultimately, it aims to boost profitability and market share. Key Takeaways The

Hotel STAR Report: Clear Introduction for HoteliersMartijn Barten2024-03-22T10:44:55+01:00

5 Essential Tips to Choose the right Property Management System

Martijn Barten2024-06-04T21:56:45+02:00

For those in the hospitality industry trying to run a successful hotel, a robust revenue management strategy is of the utmost importance, and a property management system (PMS) can assist greatly. In this article, you will find the uses of a property management system and read five tips to help you select the right one. Table of Contents: What Is

5 Essential Tips to Choose the right Property Management SystemMartijn Barten2024-06-04T21:56:45+02:00

What is Yield Management?

Martijn Barten2024-06-04T21:57:50+02:00

Yield management is a pricing strategy commonly utilized by businesses in hospitality, air travel, and other tourism-related fields to generate maximum revenue from perishable inventory (e.g., hotel rooms or airline seats). Here, we answer the question 'What is yield management?' and explain why it is useful for hospitality hotel owners and others. Defining Yield Management In simple terms, yield management

What is Yield Management?Martijn Barten2024-06-04T21:57:50+02:00

What does GOPPAR stand for?

Martijn Barten2024-06-04T21:55:52+02:00

A key performance indicator, or KPI, is a quantifiable business performance measurement. KPIs are essential for implementing a successful revenue management strategy, as it allows businesses to identify areas of success and failure, as well as trends related to demand and customer behavior. GOPPAR is one of the most important KPIs hotels use for revenue management. This article explains what

What does GOPPAR stand for?Martijn Barten2024-06-04T21:55:52+02:00

Hotel Distribution Channel Manager: What Are the Advantages?

Martijn Barten2024-06-04T21:57:27+02:00

For those in the hospitality industry, a key part of any revenue management strategy revolves around distribution channel management. After all, while direct bookings are usually preferable, maximizing bookings and revenue requires assistance from third-party distribution agents. In this article, you will find extensive information regarding distribution channel management in the hotel industry and the role a distribution channel manager

Hotel Distribution Channel Manager: What Are the Advantages?Martijn Barten2024-06-04T21:57:27+02:00

9 Forecasting Tips to Improve Your Revenue Management Strategy

Martijn Barten2024-06-04T21:55:23+02:00

Forecasting is an important part of any revenue management strategy because it allows hotel managers to make vital pricing, promotion, and distribution decisions based on anticipated demand and performance. In this article, we look at useful forecasting tips to help you improve your revenue management strategy. Table of Contents: What Is Revenue Management? Forecasting Explained The Importance of Forecasting Tips

9 Forecasting Tips to Improve Your Revenue Management StrategyMartijn Barten2024-06-04T21:55:23+02:00

The Most Important Online Distribution Channels for Hotels

Martijn Barten2024-06-04T21:54:57+02:00

The distribution channels that hotels use and invest in can have a significant bearing on their revenue management strategy, and their overall success. These days, many hotels receive more internet bookings than offline travel agents. Meanwhile, more recent advances in smartphone technology have made online distribution channels more important than ever, as consumers now expect to book a hotel room

The Most Important Online Distribution Channels for HotelsMartijn Barten2024-06-04T21:54:57+02:00

Interview with CEO & Co-founder Tiago Araújo of HiJiffy

Revfine.com2024-03-29T14:57:45+01:00

In this article, we interview Tiago Araújo, the CEO & Co-founder of HiJiffy. Araújo launched HiJiffy in 2016 to enhance hotel guest communication. Today, HiJiffy leverages AI-driven technologies for direct bookings, new revenue streams, personalized communication with guests, and more. Can you tell us a bit about yourself? Absolutely. My educational journey began

Interview with CEO & Co-founder Tiago Araújo of HiJiffyRevfine.com2024-03-29T14:57:45+01:00

Best Practices for GDS Optimisation in Hotel Distribution Strategy

Suzanne2024-05-22T18:27:40+02:00

Question for Our Hotel Marketing Expert Panel What is your advice for using GDS as part of a hotel's overall distribution strategy? What tips or best practices can you share for getting the most out of your GDS? (Question from Nicole Sideris) Our Marketing Expert Panel Tamie Matthews - Revenue, Sales & Marketing

Best Practices for GDS Optimisation in Hotel Distribution StrategySuzanne2024-05-22T18:27:40+02:00

How Do You Take Your Hotel’s Data Game to the Next Level?

Revfine.com2024-02-12T11:52:53+01:00

So, you are interested in hospitality data? In the current world of hospitality, data has become the cornerstone of strategic and tactical decision-making. This article explores how data and data tools can help transform operations across the hotel, improve communication and efficiency, and drive revenue and profit growth. Uncover the first steps to integrating analytics into your hotel's day-to-day for

How Do You Take Your Hotel’s Data Game to the Next Level?Revfine.com2024-02-12T11:52:53+01:00

Strategies, Tactics, and Insights for the Hotel Industry

Optimize revenue, innovate processes, and improve customer experience