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Revenue Management

9 Essential Hotel KPIs to Optimize Your Upsell Marketing Performance

2023-12-06T16:16:05+01:00

The hotel industry employs many unique key performance indicators. ADR (average daily rate), RevPAR (revenue per available room) and Occ% (occupancy) naturally come to mind. These metrics reflect the unique nature of our business, but their existence also drives our attention and actions. Watching your hotel’s KPIs translates into optimizing key activities to influence those KPIs positively. As the old

9 Essential Hotel KPIs to Optimize Your Upsell Marketing Performance2023-12-06T16:16:05+01:00

What Forward-Looking Data is Essential for Hotels?

2023-12-06T16:16:54+01:00

Question for Our Revenue Management Expert Panel: With historic data now less relevant as we move into post-pandemic recovery, what forward-looking data is a "must-have" for hotels? Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head Family Paulo Aragao - Revenue Management Professional Theresa Prins - Founder, Revenue

What Forward-Looking Data is Essential for Hotels?2023-12-06T16:16:54+01:00

How to Measure The ROI of Your Revenue Management System?

2023-12-06T16:18:44+01:00

The revenue management system (RMS) plays a vital role in the modern hotel technology stack, driving greater profitability and efficiency. Still, the demonstrating return on investment (ROI) in a hotel’s revenue management technology investment goes deeper than year-over-year RevPAR uplift measurements. Understand the True Impact of Revenue Technology The additional revenue from properly utilizing revenue management software and strategies directly

How to Measure The ROI of Your Revenue Management System?2023-12-06T16:18:44+01:00

What skills should hotels look for when recruiting Revenue Managers?

2023-12-06T16:19:07+01:00

Question for Our Revenue Management Expert Panel: What top skills and characteristics should hotels look for when recruiting in Revenue Management leadership? Our Revenue Management Expert Panel Paulo Aragao - Revenue Management Professional Chaya Kowal - Director of Revenue Management, Potato Head Family Patrick Wimble - Managing Director, Lightbulb Consulting Theresa Prins -

What skills should hotels look for when recruiting Revenue Managers?2023-12-06T16:19:07+01:00

How Upselling Provides Low-Cost Revenue and Loyal Customers

2023-12-06T16:19:32+01:00

All kinds of businesses use upselling to enhance their customer experience and maximize revenue on existing sales. From the McDonald’s server asking, “Do you want fries with that?”, to airlines offering seat upgrades. Upselling provides the opportunity to maximize the value of every customer. Not all upselling efforts are well-received — particularly efforts driven by the sole desire to make

How Upselling Provides Low-Cost Revenue and Loyal Customers2023-12-06T16:19:32+01:00

Revenue Management Automation; Does it Answer All Your Questions?

2023-12-06T16:20:15+01:00

Over the past year, many discussions about revenue management have come up. This raised the debate around the relevance and importance of historical data. And, of course, the corona crisis tested revenue professionals’ trust in automated tools like Revenue Management Systems (RMS). The latter brought many hotels great results despite the pandemic. This article describes how revenue managers can make

Revenue Management Automation; Does it Answer All Your Questions?2023-12-06T16:20:15+01:00

Optimising Extended-Stay Hotel Revenue

2023-12-06T16:23:45+01:00

Pricing of extended-stay hotels and serviced apartments, also known as ‘aparthotels,’ has traditionally been a challenge for revenue managers as rates can vary drastically depending on the length of stay a guest seeks. However, it is vital hotel groups enhance their approach to pricing for this sector given the revenue opportunities it presents, especially as long-stay traveller demand ramps back

Optimising Extended-Stay Hotel Revenue2023-12-06T16:23:45+01:00

Are Flexible Revenue Management Conditions Due to COVID Here to Stay?

2023-12-06T16:26:29+01:00

Question for Our Revenue Management Expert Panel: Are the recent booking condition changes (e.g. increased flexibility around cancellation policies, check-in and check-out) a temporary solution or a more permanent change for the hospitality industry? Our Revenue Management Expert Panel Christoph Hütter - Revenue Strategy Consultant, Christoph Hütter Revenue Management Patrick Wimble - Managing

Are Flexible Revenue Management Conditions Due to COVID Here to Stay?2023-12-06T16:26:29+01:00

Intelligent Pricing Automation: Learning from Satellite Navigation

2023-12-06T16:27:55+01:00

In the mid-90s, when satellite navigation (sat-nav) starting to get popular, the navigation systems based their route recommendation on static data. The result: drivers often didn’t trust the sat nav because the recommended route was not the optimal one. Well, things have changed in the sat-nav landscape. In this article, sat-nav is used as a metaphor for revenue management: going

Intelligent Pricing Automation: Learning from Satellite Navigation2023-12-06T16:27:55+01:00

How Can Hoteliers Adjust Their Revenue Strategy Due to COVID Restrictions?

2023-12-06T16:30:25+01:00

Question for Our Revenue Management Expert Panel: Amid changing travel guidelines and restrictions, flexibility has become essential for travellers. How are you addressing this? How has your revenue management strategy adapted to meet those needs? Our Revenue Management Expert Panel Pablo Torres - Hotel Consultant, TSA Solutions Dian Tristyanti - Revenue Management Professional

How Can Hoteliers Adjust Their Revenue Strategy Due to COVID Restrictions?2023-12-06T16:30:25+01:00

Overcoming New Tech Pains: RMS Change-Management Tips

2023-12-06T16:31:02+01:00

Whether ditching a subpar revenue management system (RMS) provider for something better or implementing automated revenue tech for the first time—change is hard. But not changing could be disastrous for hotel businesses hoping to remain competitive and run efficiently and profitably in the new industry landscape of 2021 and beyond. Keep reading for tips on navigating the tech change for

Overcoming New Tech Pains: RMS Change-Management Tips2023-12-06T16:31:02+01:00

Revenue Manager Job Description: What to Look For?

2024-06-01T19:37:47+02:00

Before embarking on a career in revenue management, reading a comprehensive revenue manager job description can be useful. After all, it is a position with many different responsibilities connected to it, and it is also important to get a sense of the required skills, qualities, and qualifications. In this article, you will find a description of what revenue management entails

Revenue Manager Job Description: What to Look For?2024-06-01T19:37:47+02:00

Tips to Simplify Your Revenue Strategy With Analytics & Automation in 2021

2023-12-06T16:32:48+01:00

As a revenue manager, analytics and automation probably aren’t new to you. But recent developments in tech, like predictive analytics, forward-looking data and live insights, take revenue management to a whole new level. Especially in the looming recovery phase, these capabilities can drastically increase your chances of success even with unpredictable markets. Leaving Historical Data Behind Before Covid-19, your historical

Tips to Simplify Your Revenue Strategy With Analytics & Automation in 20212023-12-06T16:32:48+01:00

Time To Value: A Key Metric to Help You Identify The Best Tech for Your Hotel

2023-12-06T16:33:14+01:00

Technology is becoming more and more ingrained into the daily operations of today’s hoteliers, with hotel technology itself evolving in leaps and bounds. As hotel tech platforms and tools become more advanced and marketing-savvy, it becomes increasingly difficult for hoteliers to sift through the noise to find the best tools to meet their specific needs. In this article, you'll learn

Time To Value: A Key Metric to Help You Identify The Best Tech for Your Hotel2023-12-06T16:33:14+01:00

Tips for Hotel Revenue Forecasting in a Constant State of Uncertainty

2023-12-06T16:41:50+01:00

The global hospitality industry has had its fair share of large-scale disruptions since COVID-19 first struck, and the hotel sector faces an uncharted recovery period ahead. Hoteliers can gain ground by using agile, accurate, and holistic revenue forecasting. Modern Tools for Modern Challenges Are you using outdated technology at your hotel? Advanced, cloud-based solutions will help fulfil your security, connectivity,

Tips for Hotel Revenue Forecasting in a Constant State of Uncertainty2023-12-06T16:41:50+01:00

Revenue Manager: Tasks, Skills, Education, Salary, Courses and More…

2023-12-21T14:40:51+01:00

The role of a revenue manager is one of the most important within hotels and similar organizations, assisting the business by optimizing financial performance. However, many people remain unclear about exactly what a revenue manager is, what tasks are connected to the job, the level of education required, and the salary. In this article, you can learn more about these

Revenue Manager: Tasks, Skills, Education, Salary, Courses and More…2023-12-21T14:40:51+01:00

Revenue Management in 2021 – Basing Every Decision On Data

2024-05-20T16:05:29+02:00

In 2020, revenue managers were forced to make a massive shift. Instead of leaning on in-house on-the-books (OTB) data, historical and compset information, you now need to focus on much broader data sets. But collecting and evaluating more data takes your team more time. In this article, you'll learn how hotels can use data for a successful post-covid recovery strategy.

Revenue Management in 2021 – Basing Every Decision On Data2024-05-20T16:05:29+02:00

How Revenue Leaders Can Generate New Business

2023-12-06T16:46:41+01:00

Hospitality revenue management teams have long been expected to manage demand. But for the hospitality industry's new climate in 2021 and beyond, revenue leaders will need to do more than manage demand—and now it’s up to hoteliers to find creative ways to align their marketing and revenue teams to generate new business. Break Down (or at Least Align) the Silos

How Revenue Leaders Can Generate New Business2023-12-06T16:46:41+01:00
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