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Revenue Management

Revenue Management System (RMS): What Are the Advantages?

2024-07-12T11:51:06+02:00

A revenue management system is a software solution that allows hospitality brands to carry out various revenue management activities. For instance, the software makes it easier to forecast changes in demand and optimize pricing. Revenue management systems provide hotels and similar businesses with a number of major advantages, including improved accuracy and efficiency. It's important for business leaders to understand

Revenue Management System (RMS): What Are the Advantages?2024-07-12T11:51:06+02:00

What Is Hotel Revenue Management?

2024-05-30T16:12:33+02:00

For those operating in the hotel industry, revenue management is a key concept, as it enables hotel owners to predict levels of demand and optimize things like distribution and pricing in order to maximize financial results. In this article, you will learn more about hotel revenue management, why it is so valuable to hotel owners, and the necessary conditions for

What Is Hotel Revenue Management?2024-05-30T16:12:33+02:00

The Most Used Revenue Management KPIs for Hotels

2024-06-05T14:41:53+02:00

A key performance indicator can provide revenue managers and hotel owners with valuable information about their business performance. This subsequently has the benefit of allowing them to implement a revenue management strategy so that they can maximize financial business results. In this post, we look at some of the most widely utilized revenue management KPIs and how they can help

The Most Used Revenue Management KPIs for Hotels2024-06-05T14:41:53+02:00

12 Revenue Management Tips for Hotels

2024-06-05T15:08:36+02:00

Revenue management within the hospitality industry involves predicting consumer demand to optimize sales, allowing businesses to sell at the right price to the right customer at the right time. In a hotel, this may mean turning away business now to do more profitable business tomorrow. When carried out correctly, revenue management can be extremely effective, helping companies significantly boost their

12 Revenue Management Tips for Hotels2024-06-05T15:08:36+02:00

Learn How Breakfast Service Can Be a Profit Center for Your Hotel

2025-02-23T11:54:02+01:00

OTAs show "breakfast included" as a primary search filter for hotel guests. It's not surprising that guests want to maximize their time and energy by enjoying breakfast within the hotel. It's one less decision they need to make. In this article, you'll see how thinking of breakfast as a profit center – setting, food, service, environment – impacts your hotel's

Learn How Breakfast Service Can Be a Profit Center for Your Hotel2025-02-23T11:54:02+01:00

4 Tips for a Smart Overbooking Approach

2023-12-29T16:31:28+01:00

While data certainly supports the practice under the right circumstances, overbooking is a subject that can easily put hotel staff on edge without careful implementation. No one is thrilled by the prospect of needing to relocate or “walk” a guest to another property because a statistically likely cancellation never materialized. 4 Useful Tips for a Smart Overbooking Approach Plenty can

4 Tips for a Smart Overbooking Approach2023-12-29T16:31:28+01:00

Top 3 Hotel Rate Parity Issues and How to Fix Them

2024-04-10T17:00:52+02:00

Are you a hotelier struggling to maintain rate parity in today's ever-changing hospitality industry? If so, you're not alone. Despite the challenges of the last few years, rate parity remains a significant issue for hotels, and it's only getting more complicated. Top 3 Hotel Rate Parity Issues As a result of the pandemic, many hotels focused on generating short-term business

Top 3 Hotel Rate Parity Issues and How to Fix Them2024-04-10T17:00:52+02:00

Mastering Ancillary Revenue: Key Lessons and Strategies

2023-12-29T16:30:09+01:00

A revenue management strategy is a common practice among hotels. What’s less common is having an ancillary revenue strategy, though. Nevertheless, it’s beneficial for hotels to have one. It’s one of the first steps to unlocking a new, powerful revenue stream and improving the hotel’s positioning and branding while enhancing the guest experience. Here’s a closer look at the other

Mastering Ancillary Revenue: Key Lessons and Strategies2023-12-29T16:30:09+01:00

Embracing Hybrid Hospitality: A Blueprint for Boosting Hotel Revenue

2023-12-29T16:31:03+01:00

In the ever-evolving landscape of the hospitality industry, it can feel hard to stay ahead of the curve – or even in the middle of it. However, changing habits, attitudes, and trends send a clear message: the status quo is no longer sufficient to meet the complex needs of modern guests. The solution? Embrace a flexible tech stack and adopt

Embracing Hybrid Hospitality: A Blueprint for Boosting Hotel Revenue2023-12-29T16:31:03+01:00

Best AI Use Cases and Strategies in Hotel Revenue Management

2023-12-11T10:28:07+01:00

Question for Our Revenue Management Expert Panel: What are the most beneficial use cases and practical applications of AI in hotel revenue management? Where do you think the opportunities and pitfalls may lie? (Question by Alenka McMahon) Our Revenue Management Expert Panel Alenka McMahon - Managing Director, Hotel Revenue Services Limited Tanya Hadwick

Best AI Use Cases and Strategies in Hotel Revenue Management2023-12-11T10:28:07+01:00

Outsourcing Revenue Management: 4 Ways it Benefits Hotels

2024-06-05T14:12:10+02:00

Revenue management is extremely important within the hotel industry because it allows owners to optimize how they do business, to improve financial results. However, it also requires specific skills and knowledge, which means that it can be more effective to outsource revenue management to a third party that specializes in this area. In this article, you will learn more about

Outsourcing Revenue Management: 4 Ways it Benefits Hotels2024-06-05T14:12:10+02:00

Hotel RMS Evolution: From Ledgers to Spreadsheets to Cloud-Based Systems

2023-11-21T16:08:32+01:00

While the evolution of all hotel operational technologies has been a fascinating study, the evolution of hotel revenue management systems (RMS) has been particularly interesting, as it has gone through so many distinct and completely different phrases in a relatively short time (approximately the last ten years). RMS Transformation - From Ledgers to AI Cloud Systems Through this evolution, revenue

Hotel RMS Evolution: From Ledgers to Spreadsheets to Cloud-Based Systems2023-11-21T16:08:32+01:00

The Development of Revenue Management in the Hospitality Industry

2023-11-21T16:34:20+01:00

In recent years, the hospitality industry has navigated unique challenges. As we forge ahead into 2023 and 2024, the landscape of revenue management within this sector is undergoing transformative changes. These changes, crucial for adapting to new market conditions, enhancing efficiency, and aligning with customer preferences, notably accelerate technological integration. Revenue Management Trends in the Hospitality Industry This article delves

The Development of Revenue Management in the Hospitality Industry2023-11-21T16:34:20+01:00

Interview with President and Co-founder Dr. Ravi Mehrotra of IDeaS

2024-03-29T14:59:51+01:00

In this interview, we speak with Dr. Ravi Mehrotra, the president and co-founder of IDeaS. As the son of an electrical engineer and avid chess player, he became interested in technology and how it can be applied to modeling real-world scenarios to help improve decision-making ability. With his friend Sanjay Nagalia, he co-founded IDeas, one of today's leading

Interview with President and Co-founder Dr. Ravi Mehrotra of IDeaS2024-03-29T14:59:51+01:00

Facing Automation Fears: A Perspective for Hoteliers

2023-12-06T10:54:40+01:00

For some, advancements in automation bring a profound sense of dread. Worrying about the big-picture societal challenges that may come with the widespread adoption of new, advanced generative AI tools is understandable. But instead of fretting about whatever dystopian worst-case scenario automation may bring, it's time to take a step back for perspective and think of how automation may apply

Facing Automation Fears: A Perspective for Hoteliers2023-12-06T10:54:40+01:00

The Role of Hotel Reception Staff on Revenue Management

2025-02-23T11:54:11+01:00

Your hotel can do everything right, but if your customers aren’t happy, that can lead to a loss of revenue. Why? Unhappy customers leave negative reviews, and that affects future bookings. The Importance of a Positive Hotel Reputation Recently, while browsing some online property reviews, one stood out. "... we were disappointed by the lack of clarity of the reception

The Role of Hotel Reception Staff on Revenue Management2025-02-23T11:54:11+01:00

The Benefits of Offering Multiple Payment Methods at Your Hotel

2023-12-20T17:28:58+01:00

The world of hotel payments is everchanging. New payment methods are constantly being introduced into the market, from cash and bank transfers to credit cards and digital wallets. To satisfy guest expectations and encourage direct bookings, lodging operators must stay on top of emerging trends and offer the latest payment methods. The Importance of a Seamless Payment Experience In addition

The Benefits of Offering Multiple Payment Methods at Your Hotel2023-12-20T17:28:58+01:00
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