Hotel Revenue Management

The Limits of Rules-Based Revenue Management Technology

Revfine.com2023-12-06T15:50:17+01:00

There are automated revenue management decision-making systems, and then there are revenue management support tools that rely on a rules-based approach to setting and changing prices. While perhaps an efficient method for some proficient users, rules-based technology requires consistent manual intervention and will undoubtedly struggle as market conditions shift and staffing changeover occurs. Keep reading to understand the limitations of

The Limits of Rules-Based Revenue Management TechnologyRevfine.com2023-12-06T15:50:17+01:00

Pricing Your Rooms in 2022 – Getting The Best Results in Times of Uncertainty

Revfine.com2023-12-06T15:50:45+01:00

Cast your minds back to midnight on new years eve. You probably weren’t thinking about your room pricing. But if you had been, would you have felt confident about how demand will play out this year? How much would you bet on being right? If you are in charge of setting prices for a hotel, then a lot of money

Pricing Your Rooms in 2022 – Getting The Best Results in Times of UncertaintyRevfine.com2023-12-06T15:50:45+01:00

How Can Revenue Management Ensure Collaboration Amongst Hotel Teams?

Suzanne2023-12-06T15:52:48+01:00

Question for Our Revenue Management Expert Panel: Successful Total Revenue Management strategies rely on great communication between all hotel departments. What tips can you offer to Revenue Management teams to help ensure a collaborative effort? Our Revenue Management Expert Panel Patrick Wimble - Managing Director, Lightbulb Consulting Theresa Prins - Founder, Revenue Resolutions

How Can Revenue Management Ensure Collaboration Amongst Hotel Teams?Suzanne2023-12-06T15:52:48+01:00

Tools of the Trade: Why Revenue Managers Need to Be Active Software Reviewers

Revfine.com2023-12-06T15:56:12+01:00

A comprehensive approach to revenue management traditionally includes a number of different solutions from PMS, CRS, RMS, rate shopper, and business intelligence tools. But at a time when occupancy levels remain aberrantly low, what other tools, if any, should a revenue manager be aware of that can help increase revenue? The Future of Revenue Management: Total Profit Management This article

Tools of the Trade: Why Revenue Managers Need to Be Active Software ReviewersRevfine.com2023-12-06T15:56:12+01:00

Forward-Looking Demand Data: The Secret to Optimising Revenue in Challenging Times

Revfine.com2023-12-06T15:57:41+01:00

Name an area of life or work that the pandemic didn’t impact. It’s not easy to find one, is it? Especially in the hospitality industry, it feels like hardly anything is as it was before COVID. However, there’s one thing that has dramatically gained importance. It’s your ability as a revenue manager to grasp market trends, foresee demand shifts and

Forward-Looking Demand Data: The Secret to Optimising Revenue in Challenging TimesRevfine.com2023-12-06T15:57:41+01:00

How Can Hotels Benefit Most from Automation in Revenue Management?

Suzanne2023-12-06T15:58:36+01:00

Question for Our Revenue Management Expert Panel: Automation in revenue management can mean significant time-saving. Where can automation bring the most value to a hotel revenue management team and what tasks are best suited to automation? Our Revenue Management Expert Panel Dr. Betsy Stringam-Bender – Professor of Hotels & Resorts, New Mexico State

How Can Hotels Benefit Most from Automation in Revenue Management?Suzanne2023-12-06T15:58:36+01:00

5 Steps to Master The Basics of Hotel Benchmarking

Revfine.com2023-12-06T15:59:42+01:00

Whether your hotel brand contains five-star luxury hotels or serviced apartments, having precise data and knowing how to leverage it, is critical to building a successful hotel revenue plan. When it comes to implementing a hotel benchmarking strategy, there are multiple questions to consider. How do I define my compsets? What metrics should I analyze? How do I go about

5 Steps to Master The Basics of Hotel BenchmarkingRevfine.com2023-12-06T15:59:42+01:00

Resort Revenue Revolution: When Technology Meets Paradise

Revfine.com2023-12-06T16:00:48+01:00

Resort operators should take a moment to reconsider the potential for significant revenue growth. It is worth noting that leading revenue management system (RMS) providers are now directing their attention toward meeting the unique requirements of resorts. Resorts can unlock various possibilities by embracing automated dynamic pricing, flexible inventory optimization, and other innovative tools. Bye Bye Spreadsheets Gone are the

Resort Revenue Revolution: When Technology Meets ParadiseRevfine.com2023-12-06T16:00:48+01:00

How Can Revenue Management Collaborate with Sales & Marketing Teams?

Suzanne2023-12-06T16:02:27+01:00

Question for Our Revenue Management Expert Panel: For best collaboration, should Revenue Management fall under Sales & Marketing – or vice versa? Should they be separate departments on the same level of the hotel hierarchy? Or one single department? Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head

How Can Revenue Management Collaborate with Sales & Marketing Teams?Suzanne2023-12-06T16:02:27+01:00

3 Ways to Streamline Upselling Across Your Entire Hotel Chain

Revfine.com2023-12-06T16:02:57+01:00

Once it’s in place, an automated upselling system brings countless advantages, like a more personalised guest experience, increased revenue and a more efficient workflow. Achieving these results at a single property may feel relatively straightforward. But how can you replicate them at all hotels across your chain or brand? 1. Facilitate System Adoption The easier you make it for teams

3 Ways to Streamline Upselling Across Your Entire Hotel ChainRevfine.com2023-12-06T16:02:57+01:00

Protecting Your Hotel’s Cash Flow & Improving Asset Valuation

Revfine.com2023-12-06T16:03:55+01:00

Hotel revenue management plays a central role in protecting, forecasting, and strengthening a hotel's cash flow and overall financial position by enhancing the cash position of the asset. Additional revenue generated by a revenue management system directly flows into the amount of cash available. This higher rate of cash flow—combined with detailed forecasts that enable expense management—has a number of

Protecting Your Hotel’s Cash Flow & Improving Asset ValuationRevfine.com2023-12-06T16:03:55+01:00

An Analyze of How Hoteliers Handled Revenue Management During the Pandemic

Revfine.com2024-04-02T13:13:41+02:00

Using past data to predict future revenue during a pandemic might seem counterintuitive to many hoteliers. After all, hotel revenue management is always a complex science. How can you predict anything during a pandemic? In this article, you’ll learn how fellow hoteliers dealt with the Corona pandemic. Three Different Paths During the Pandemic As a hotelier, you’ve faced an unusual

An Analyze of How Hoteliers Handled Revenue Management During the PandemicRevfine.com2024-04-02T13:13:41+02:00

The Five Boxes Your New Revenue Management (RMS) Should Check

Revfine.com2023-12-20T16:51:02+01:00

Today things are different. There's a greater variety of more intuitive RMSs that are easy to use for your team and can be set up faster than legacy systems. Thanks to this development, finding an RMS doesn't have to be hard anymore. In the following article, you'll discover how to find the RMS that will help you do just that.

The Five Boxes Your New Revenue Management (RMS) Should CheckRevfine.com2023-12-20T16:51:02+01:00

What Hotel Revenue Management Innovations & Trends Can We Expect in 2022?

Suzanne2023-12-06T16:07:14+01:00

Question for Our Revenue Management Expert Panel: What are the top innovations and trends in hotel revenue management that we can expect to see in 2022? Our Revenue Management Expert Panel Nikhil Roy - Revenue & Pricing Manager, Key Hospitality B.V. Paulo Aragao - Revenue Management Professional Sandra Gannon - Commercial Consultant, Revenue

What Hotel Revenue Management Innovations & Trends Can We Expect in 2022?Suzanne2023-12-06T16:07:14+01:00

A Few Thoughts on Your Hotel’s Distribution & Channel Strategy

Revfine.com2023-12-06T16:08:57+01:00

When engaging with online travel agencies (OTAs) in these volatile times, hoteliers must adequately understand the value and costs of all distribution channels. Any relationship weighted in favour of an OTA to the detriment of a hotel’s bottom line needs to be reviewed, and steps should be taken to maximise direct bookings. Hoteliers Should Explore OTA Alternatives For many hoteliers,

A Few Thoughts on Your Hotel’s Distribution & Channel StrategyRevfine.com2023-12-06T16:08:57+01:00

Revenue Management After COVID-19 – “Innovating Through Uncertainty”

Martijn Barten2024-06-01T19:37:15+02:00

Never before has a single event affected the global economy to the extent that the ongoing COVID-19 pandemic has. Revenue managers, owners, and operators have been thrown into disarray within the hotel industry, and all are facing a less predictable future. In this article, you will learn more about revenue management strategies' role in the post-COVID economy and some of the

Revenue Management After COVID-19 – “Innovating Through Uncertainty”Martijn Barten2024-06-01T19:37:15+02:00

How Hotel Automation Increases Early Check-in & Late Checkout Revenue

Revfine.com2023-12-06T16:11:04+01:00

When you hear the word automation, it may conjure up images of a future where artificial intelligence and robots take over jobs. The reality, however, is much more nuanced. The notion of automation generally remains ossified in this physical, machine-replace-labour frame and is perceived as another step toward automation-led obsolescence. Automation in Everyday Life Discussions about automation all too often

How Hotel Automation Increases Early Check-in & Late Checkout RevenueRevfine.com2023-12-06T16:11:04+01:00

What Revenue Management Technology is Essential for Hotels?

Suzanne2023-12-20T16:51:57+01:00

Question for Our Revenue Management Expert Panel: What are the top “must-have” revenue management technology and tools essential for hotels today? Our Revenue Management Expert Panel Silvia Cantarella - Revenue Management Consultant, Revenue Acrobats Theresa Prins - Founder, Revenue Resolutions Patrick Wimble - Managing Director, Lightbulb Consulting Celine Quek - Senior Lecturer, School

What Revenue Management Technology is Essential for Hotels?Suzanne2023-12-20T16:51:57+01:00

Hotel Revenue Management

Optimizing revenue and growing your business

Revenue Management