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Revenue Management

How to Trigger Dopamine to Maximize Your Hotel’s Direct Revenue

2023-12-20T18:39:34+01:00

If you're a hotelier struggling to improve your website conversion rates, you're not alone. Maximizing hotel revenue through direct bookings is crucial, and a little something known as “dopamine” could be the key. In this article, we'll explore the connection between dopamine and positive online experiences and how personalization can help you create a memorable guest experience that boosts conversion

How to Trigger Dopamine to Maximize Your Hotel’s Direct Revenue2023-12-20T18:39:34+01:00

What is the Role of Human Judgement in Revenue Management Decisions?

2023-12-06T12:58:47+01:00

Question for Our Revenue Management Expert Panel: With so much technology available, how does human judgement factor into making revenue management decisions? Should the RMS ever be overruled by human judgement? (Question by Fabian Bartnick) Our Revenue Management Expert Panel Fabian Bartnick - Founder, Infinito Dr. Betsy Stringam-Bender - Professor of Hotels &

What is the Role of Human Judgement in Revenue Management Decisions?2023-12-06T12:58:47+01:00

How to Use Stay Restrictions in Hotel Revenue Management to Drive More Revenue

2023-12-06T13:00:00+01:00

Restricting your guests’ ability to book the stay dates they want may not sound like the best idea initially. But depending on your hotel, audience, and market situation, stay controls can be a vital revenue management tool. On top of driving reservations on slower days, they can increase revenue, reduce turnover and drive profitability. Read on below to discover more

How to Use Stay Restrictions in Hotel Revenue Management to Drive More Revenue2023-12-06T13:00:00+01:00

Tips for Calculating Demand and Price for Events without Historical Data

2023-12-06T13:04:36+01:00

Question for Our Revenue Management Expert Panel: How do you calculate demand and room price for unique events that are new to your area (e.g., major concerts, Olympic Games, World Cup, etc.) without having historical data to refer to? (Question by Massimiliano Terzulli)  Our Revenue Management Expert Panel Massimiliano Terzulli - Revenue Management

Tips for Calculating Demand and Price for Events without Historical Data2023-12-06T13:04:36+01:00

Cliches About Revenue Management, Guests’ Quality, and Brand Reputation

2024-04-02T13:07:30+02:00

What do hoteliers resist about revenue management? One common pushback is lowering prices below a certain psychological threshold. Yet, it's essential during low demand and pays off later. Some hoteliers believe: "I cannot sell below a certain figure because otherwise low-quality guests will arrive and lower the hotel's image; I prefer to stay empty and not sell." Yet, those who

Cliches About Revenue Management, Guests’ Quality, and Brand Reputation2024-04-02T13:07:30+02:00

Which Matters Most for Winning Guests – Price or Loyalty?

2023-12-20T17:56:25+01:00

Regardless of who you are, competition in the hospitality industry is increasingly fierce, and winning new customers is a major challenge even for experienced hoteliers. So, what makes the most significant difference in getting guests to stay at your hotel versus the one down the street? Is it price? Is it the chance to benefit from a personalized loyalty program?

Which Matters Most for Winning Guests – Price or Loyalty?2023-12-20T17:56:25+01:00

Hotel Restaurant Management: Tips to Maximize Revenue for Your Hotel

2024-06-01T15:28:50+02:00

Hotel restaurant management presents some unique challenges. As well as providing food, your hotel's restaurant is an intrinsic part of a guest's experience. An excellent restaurant can help make staying at your hotel memorable. If your hotel restaurant is open to the general public, it can also be an important additional revenue source. In this article, you'll discover valuable tips

Hotel Restaurant Management: Tips to Maximize Revenue for Your Hotel2024-06-01T15:28:50+02:00

How to Combine Human and AI Collaboration for the Best Hotel Results

2023-12-06T13:32:46+01:00

The advancement of AI and automation over the past few years has transformed the hospitality industry. New technology enabled gathering and evaluating vast amounts of data, quickly making informed decisions, and lifting the topline. Especially in the revenue management department, new AI-powered solutions offer the real-time market insights hoteliers need to optimize, adjust and even automate their pricing. One concern

How to Combine Human and AI Collaboration for the Best Hotel Results2023-12-06T13:32:46+01:00

Revenue Management is About Much More Than Pricing

2023-12-06T13:35:12+01:00

When hoteliers, hotel owners, or management seek the help of a revenue management consultant or outsourcing company, they often mention something like, "We've casually practiced revenue management in the past." As the consulting engagement kicks off, these hospitality professionals will say they understand the discipline even though they lack a structured approach. Yet, revenue management is all about structure. Pricing

Revenue Management is About Much More Than Pricing2023-12-06T13:35:12+01:00

15 Strategies to Boost Hotel Food and Beverage Revenue

2023-12-06T13:35:46+01:00

Managing hotel restaurants may be challenging. Ultimately, one might say maintaining a hotel as a whole is likely enough effort in and of itself, not even to mention trying to figure out how to ensure the hotel restaurant operates to its fullest potential. However, in the long run, it pays to consider ways to boost F&B (food and beverage) sales

15 Strategies to Boost Hotel Food and Beverage Revenue2023-12-06T13:35:46+01:00

Where is the Data? How Hotels are Changing Targets for Data Collection

2023-12-06T13:36:23+01:00

Data is the blood life – or oxygen – for businesses, but only if one knows how to make sense of it. The sheer volume and scale of data available to hoteliers today are immense, and operators are finding new ways of turning the overwhelming deluge of information from a curse into a blessing. The process involves rethinking their data

Where is the Data? How Hotels are Changing Targets for Data Collection2023-12-06T13:36:23+01:00

What Revenue Management Trends and Strategies will we see in 2023?

2023-12-06T13:37:22+01:00

Question for Our Revenue Management Expert Panel: What are your predictions for the revenue management trends and strategies we can expect to see in 2023? Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head Family Dermot Herlihy - Owner, Dynamic Hospitality Consulting Ricardo Sereno - Revenue Manager, Altis

What Revenue Management Trends and Strategies will we see in 2023?2023-12-06T13:37:22+01:00

Moving Ahead Towards The Light: The Hospitality Industry’s New Trials and Possibilities

2023-12-06T13:38:33+01:00

There's no doubt that 2022 brought terrific developments for the hospitality industry. Most countries reopened their borders and did away with travel restrictions, and demand matched or even exceeded 2019 levels. However, it's not smooth sailing all around. Our sector faced many ongoing challenges due to the pandemic, and some new issues cropped up, too. What could have been the

Moving Ahead Towards The Light: The Hospitality Industry’s New Trials and Possibilities2023-12-06T13:38:33+01:00

4 Key Metrics for Your Hotel’s Direct Channel Success

2023-12-20T18:39:52+01:00

Data analytics is, of course, helpful to better understand your hotel’s direct channel performance, but what’s most useful is being able to compare your results to the market to identify potential growth drivers. The Benefits of Hotel Benchmarking Hotel benchmarking enables you not only to access competitive insights but to make better-informed decisions and take action in those areas that

4 Key Metrics for Your Hotel’s Direct Channel Success2023-12-20T18:39:52+01:00

How do Reputation Scores and Revenue Management Influence each other?

2023-12-06T13:41:28+01:00

Question for Our Revenue Management Expert Panel: What are the links between hotel reputation scores and revenue management? How do they influence each other? (Question proposed by Pablo Torres)  Our Revenue Management Expert Panel Pablo Torres - Director Of Sales Marketing, Alannia Resorts Chaya Kowal - Director of Revenue Management, Potato Head

How do Reputation Scores and Revenue Management Influence each other?2023-12-06T13:41:28+01:00

Revenue Management Guide: Calculating Costs & Quality Analysis

2024-04-02T13:09:13+02:00

As a hotelier, you know many factors go into your room rates. Three of those factors are your costs, current demand, and your hotel’s online visibility. Revenue management is the science of assessing these and other factors and raising your profitability year after year. This article offers a guide to analyzing your costs and improving your analysis with the goal

Revenue Management Guide: Calculating Costs & Quality Analysis2024-04-02T13:09:13+02:00

Break Siloes and Foster Synergies to Optimize Hotel Profits

2023-12-06T13:46:29+01:00

Hotels looking to optimize profits must break the silo mentality. They must align their teams and synchronize their knowledge. In this article, you'll learn how to break siloes and foster synergies to optimize hotel profits. Steps to Creating a Connected Commercial Organization The movement toward commercial revenue is a good start. Many hotels have brought sales, marketing, revenue management, and

Break Siloes and Foster Synergies to Optimize Hotel Profits2023-12-06T13:46:29+01:00

How to Use Food and Beverage F&B Data to Increase Hotel Revenue

2023-12-06T13:48:22+01:00

Food and beverage (F&B) data is considered a gold mine in the hospitality industry. From the moment your guests make an online reservation, to the time they leave your restaurant, your POS system or an advanced reservation platform generates valuable guest data. In this article, you'll learn how to use F&B data to improve guest experience, ultimately increasing hotel revenue.

How to Use Food and Beverage F&B Data to Increase Hotel Revenue2023-12-06T13:48:22+01:00
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