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Revenue Management

5 Reasons Why Implementing RMS in High Season Makes Absolute Sense

2024-05-20T10:36:33+02:00

Check-in lines, a full luggage store, and you running around, juggling hotel admin work, staff, customer service, marketing, and prices. Welcome to the high season. Amidst this chaos, implementing a new technology solution like a Revenue Management System (RMS) might be the last thing on your to-do list. However, here are five reasons why doing so during this time could

5 Reasons Why Implementing RMS in High Season Makes Absolute Sense2024-05-20T10:36:33+02:00

Account Analytics: Optimize Corporate & Agency Performance with Data

2024-05-22T18:27:11+02:00

Account Analytics is much more than most Sales Managers are currently equipped with, usually in an Excel sheet or PMS report: Room Nights, ADR, and Revenue per account. Understand how deeper Account Analytics across Corporate and Agency accounts can help your hotel's commercial team analyze the entire segment of individual accounts and leverage the data for better commercial decisions. What

Account Analytics: Optimize Corporate & Agency Performance with Data2024-05-22T18:27:11+02:00

How an Italian Hotel Doubled Revenue by Cracking Tripadvisor’s Top 10

2024-05-20T10:37:50+02:00

Today's hoteliers want to increase their online bookings and revise corporate rates to a profitable market rate. Revenue management is a proven path to get there. This small hotel partnered with a revenue team and succeeded in doubling its revenue in two years and breaking into Tripadvisor's Top 10. Here's how. Revenue Management Boosts Online Reputation and Revises Static Corporate

How an Italian Hotel Doubled Revenue by Cracking Tripadvisor’s Top 102024-05-20T10:37:50+02:00

Avoid These 3 Benchmarking Errors for Hotel Revenue Success

2024-05-09T13:17:29+02:00

As a revenue manager, you're undoubtedly aware of the importance of gauging your hotel's performance to maintain a competitive edge in your market. Yet, how can you be certain that you're genuinely on par with, or preferably ahead of, your competitors? Enter benchmarking for hotel revenue management. Benchmarking for Hotel Revenue Management: 3 Cardinal Errors Benchmarking offers the essential context

Avoid These 3 Benchmarking Errors for Hotel Revenue Success2024-05-09T13:17:29+02:00

Boost Hotel Revenue with CRM and Digital Marketing Integration

2024-05-07T13:01:42+02:00

Your hotel CRM isn’t only the hub for your guest-facing operations. It can also supercharge your hotel’s digital marketing by leveraging real-time guest data to shape your strategy. However, hotels cannot rely on their CRM’s guest profiles alone – they need to utilize that data to enhance and personalize their digital marketing campaigns. Maximizing Hotel Profitability with Integrated CRM and

Boost Hotel Revenue with CRM and Digital Marketing Integration2024-05-07T13:01:42+02:00

Why Revenue Management Systems Will Never Replace Human Revenue Managers

2024-05-07T13:02:52+02:00

When the desktop computer came along, it needed human input. It’s no different with an RMS (revenue management system.) Even an AI-enabled RMS can’t think independently (and that’s a good thing!) You’ve probably heard plenty about AI (artificial intelligence) chatbots that learn from biased human language and “deep fakes,” which are the 21st c. version of Photoshop. These are just

Why Revenue Management Systems Will Never Replace Human Revenue Managers2024-05-07T13:02:52+02:00

Exploring Hotel Revenue Trends for 2024: Insights & Real-World Examples

2024-04-21T13:46:06+02:00

The year 2023 has brought about significant changes in the hotel industry, with revenue management practices and trends evolving rapidly. As these trends continue to take shape, their impact will undoubtedly shape strategies and operations well into 2024. This article provides valuable insights into the key factors influencing the financial landscape of the hotel industry, offering practical examples from hotels

Exploring Hotel Revenue Trends for 2024: Insights & Real-World Examples2024-04-21T13:46:06+02:00

Steps for Success: Evaluating and Pricing Group Business

2024-05-22T18:27:23+02:00

Group business is an undeniably important piece of the revenue puzzle for hotels. However, not all group revenue is equally valuable or desirable. To achieve an ideal mix of group and transient business, hotels must undergo a detailed evaluation process—one that can be greatly aided with an advanced revenue management system. Ten Crucial Steps to Evaluating and Pricing Group Business

Steps for Success: Evaluating and Pricing Group Business2024-05-22T18:27:23+02:00

Unlocking Insights and Revenue Potential with Room-Type Analytics

2024-04-22T11:30:15+02:00

In a hotel, understanding the dynamics of room types and leveraging this understanding can significantly impact revenue, profit, and guest satisfaction. Room-type analytics is a vital component of any hospitality Business Intelligence platform and offers hotels a deeper insight into their inventory’s performance. Data-driven decisions based on Room-Type Analytics enhance profitability and guest experience. This article dives into Room-Type Analytics,

Unlocking Insights and Revenue Potential with Room-Type Analytics2024-04-22T11:30:15+02:00

Restaurant Revenue Management Strategies for Successful Managers

2024-06-01T13:51:25+02:00

Getting your restaurant revenue management strategy right can be critical for your business's success. In this article, you'll learn everything you need to know about revenue management: what it is, what it can do for your business, and how to craft and implement the perfect strategy. You'll also discover key tactics and ways to apply them to your restaurant. Table

Restaurant Revenue Management Strategies for Successful Managers2024-06-01T13:51:25+02:00

An Overview of Metrics Every Revenue Manager Should Track

2024-04-08T16:28:00+02:00

Navigating the complexities of hotel revenue management isn't easy. From demand forecasting and rate negotiations to inventory management and competitor analysis, there are plenty of challenges to keep revenue managers on their toes. But technology is changing the game. Today's revenue managers have powerful tools at their disposal that can help them streamline operations and focus on strategic optimization. The

An Overview of Metrics Every Revenue Manager Should Track2024-04-08T16:28:00+02:00

3 Key Strategies for Mastering Revenue Management with PMS Data

2024-04-10T16:57:06+02:00

Data fuels the commercial operation of a property and empowers hotel Revenue Managers to make informed decisions, outpace rivals, and ultimately boost profits. When discussing data, there's no resource more crucial than your Property Management System (PMS). How to Master Revenue Management with PMS Data: The 3 Strategies Your PMS is the core of your hotel's daily operations, monitoring everything

3 Key Strategies for Mastering Revenue Management with PMS Data2024-04-10T16:57:06+02:00

8 Signals Your Hotel Pricing Needs Adjustment

2024-04-08T16:30:08+02:00

Recent studies reveal that prices perceived as unfair trigger discomfort in consumers, leading to reduced purchases, complaints, and negative reviews. Conversely, fair prices activate pleasure centers, enhancing customer satisfaction.[1] This underscores the importance of finding the sweet spot for your hotel's room prices: the perfect balance between attracting (happy) guests and maximizing revenue. Build a Foundation for Effective Hotel Pricing

8 Signals Your Hotel Pricing Needs Adjustment2024-04-08T16:30:08+02:00

What Is an Occupancy Rate?

2024-06-04T21:51:38+02:00

Occupancy rate is a KPI used by those within the hotel industry to assess a hotel's performance. As a metric, it is concerned with the percentage of a hotel occupied, and can be used alongside other KPIs, such as ADR (average daily rate) and RevPAR (revenue per available room), as part of a revenue management strategy. Table of Contents: What

What Is an Occupancy Rate?2024-06-04T21:51:38+02:00

Hotel Revenue Management System Adoption: Tips for a Smooth Transition

2024-03-25T10:52:49+01:00

A revenue management system (RMS) is a fantastic tool for attracting demand from high-value guests, driving efficient operations, improving revenue performance, and increasing profitability. Of course, the best tools in the world won't do your property much good if your staff isn't bought in on their proper usage and equipped with what's needed to get the most out of them.

Hotel Revenue Management System Adoption: Tips for a Smooth Transition2024-03-25T10:52:49+01:00

Master Pick-up Analytics: Learn Why & How They Elevate Your Hotel

2024-03-25T10:53:19+01:00

Pick-up analytics are essential for hotels to forecast demand, optimize pricing strategies, manage inventory, marketing, and improve revenue management. In this article, we will dive into the world of Pick-up Analytics. You will learn what Pick-up Analytics is and how to use it to help your hotel optimize performance. What is Pick-up Analytics? In short, it is important to analyze

Master Pick-up Analytics: Learn Why & How They Elevate Your Hotel2024-03-25T10:53:19+01:00

How to Measure The Profitability of Your Hotel Business

2024-03-25T10:54:55+01:00

Profitability is a business's ability to generate earnings from its operations over a given period. Various methods, known as profitability ratios, gauge a business's overall profitability. This article explains the different profitability ratios and explains how revenue management can positively impact profitability. Insight in Profitability Ratios Profitability ratios provide insight into how a business is performing and are key tools

How to Measure The Profitability of Your Hotel Business2024-03-25T10:54:55+01:00

The Risks of Ignoring Revenue Management’s Budget Advice

2024-06-13T12:23:10+02:00

Question for Our Revenue Management Expert Panel: What happens if hotel owners do not listen to revenue managers during budget preparations? What advice would you give to an RM team when asked to justify their budget? (Question by Connor Vanderholm) Our Revenue Management Expert Panel Connor Vanderholm - CEO, Topline Tanya Hadwick -

The Risks of Ignoring Revenue Management’s Budget Advice2024-06-13T12:23:10+02:00
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