Revenue Management Guides & Explainers

Total Revenue Management: How Hotels Can Maximize Their Revenue

Martijn Barten2024-06-06T13:25:57+02:00

Total revenue management is broadly defined as managing each revenue source to the highest profitability. By incorporating multiple revenue points of sale like food and beverage, banqueting and conferencing facilities, spa, retail, leisure activities, and others with room revenue management, total revenue management assists hotels in achieving their goal of increasing revenue and profitability in a competitive market. Table of

Total Revenue Management: How Hotels Can Maximize Their RevenueMartijn Barten2024-06-06T13:25:57+02:00

Open Pricing: Why Is It the Next Hotel Revenue Management Strategy

Martijn Barten2024-06-07T13:13:34+02:00

Open pricing is an increasingly important strategy for increasing hotel revenue. It allows hotels to target various customers across different budgets, maximizing revenue and raising occupation levels all year round. With open pricing, rates, and services can be pitched optimally to ensure maximum uptake without compromising quality. In this article, you'll learn how this pricing strategy can work for you.

Open Pricing: Why Is It the Next Hotel Revenue Management StrategyMartijn Barten2024-06-07T13:13:34+02:00

Revenue Management vs Yield Management

Martijn Barten2024-06-05T14:53:16+02:00

Within the hotel industry, revenue and yield management are two of the most useful tools available to managers, allowing them to maximize the money they make from guests. Although the two concepts are closely linked and share a lot of similarities, there are some important differences too. In this blog post, we explain the differences and compare the two strategies

Revenue Management vs Yield ManagementMartijn Barten2024-06-05T14:53:16+02:00

What Is Hotel Revenue Management?

Martijn Barten2024-05-30T16:12:33+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?Martijn Barten2024-05-30T16:12:33+02:00

12 Revenue Management Tips for Hotels

Martijn Barten2024-06-05T15:08:36+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 HotelsMartijn Barten2024-06-05T15:08:36+02:00

The Benefits of Offering Multiple Payment Methods at Your Hotel

Revfine.com2023-12-20T17:28:58+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 HotelRevfine.com2023-12-20T17:28:58+01:00

Airline Revenue Management: What is It, How Does it Work & Examples

Martijn Barten2024-06-01T13:54:18+02:00

Given the volatility of demand and the high fixed costs involved in operating commercial flights, it's no surprise that the airline industry has always been at the forefront of revenue management. Commercial airlines were some of the first companies to analyze consumer behavior and tailor their prices to the information. In this article, you'll learn everything you need to know

Airline Revenue Management: What is It, How Does it Work & ExamplesMartijn Barten2024-06-01T13:54:18+02:00

5 Ways to Increase Revenue With a Hospitality CRM

Revfine.com2023-12-06T12:43:43+01:00

If there is something that people working in marketing in hospitality is talking about is the power of a CRM system. But why has it become so important? Today, the challenges of hotel marketing are increasing consistently. People demand more personalization, better reach, multi-channel approaches, etc. And if you are not meeting these requirements, the numbers will show it. The Benefits

5 Ways to Increase Revenue With a Hospitality CRMRevfine.com2023-12-06T12:43:43+01:00

Tips for Calculating Demand and Price for Events without Historical Data

Suzanne2023-12-06T13:04:36+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 DataSuzanne2023-12-06T13:04:36+01:00

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

Revfine.com2025-02-23T11:54:46+01:00

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 ReputationRevfine.com2025-02-23T11:54:46+01:00

Which Matters Most for Winning Guests – Price or Loyalty?

Revfine.com2023-12-20T17:56:25+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?Revfine.com2023-12-20T17:56:25+01:00

Revenue Management is About Much More Than Pricing

Revfine.com2025-02-23T11:54:58+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 PricingRevfine.com2025-02-23T11:54:58+01:00

How do Reputation Scores and Revenue Management Influence each other?

Suzanne2023-12-06T13:41:28+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?Suzanne2023-12-06T13:41:28+01:00

6 Ways Your Hotel Might be Missing Revenue Opportunities

Revfine.com2023-12-06T13:50:21+01:00

You'll probably agree that seizing revenue opportunities is more important now than ever - especially with costs increasing in every area of hotel operations and demand only recovering. Otherwise, your property's profitability could take a severe hit, and its long-term business success may be at risk. Luckily, there are many things you can do to capitalize on demand and get

6 Ways Your Hotel Might be Missing Revenue OpportunitiesRevfine.com2023-12-06T13:50:21+01:00

How can Revenue Managers Collaborate on Decisions?

Suzanne2023-12-06T14:59:51+01:00

Question for Our Revenue Management Expert Panel: Are Revenue Managers overloaded with strategy and result decisions? How can Revenue Managers collaborate and share responsibilities with other teams? (Question proposed by Daniel Feitosa) Our Revenue Management Expert Panel Daniel Feitosa - Revenue Management Specialist Sandra Gannon - Commercial Consultant, Revenue Puzzle Patrick Wimble -

How can Revenue Managers Collaborate on Decisions?Suzanne2023-12-06T14:59:51+01:00

Discover Why These Hotels Enjoy a 15%-40% Higher Revenue Than 2019!

Revfine.com2025-02-23T11:55:36+01:00

When you review your hotel's mid-year numbers, what do you see? Are your occupancy rates up? Is revenue up? Is your hotel enjoying a revenue boost from 2019? A sample of over 400 revenue-managed hotels found they're on track to close 2022 with a 15%-40% revenue boost from 2019. A Decrease in RevPar for European Hotels A review of May

Discover Why These Hotels Enjoy a 15%-40% Higher Revenue Than 2019!Revfine.com2025-02-23T11:55:36+01:00

Automation in Hotel Revenue Management: Yes, or No?

Revfine.com2023-12-06T15:18:02+01:00

At the Asian American Hotel Owners Association’s annual event, Tyler Morse, chairman and CEO of MCR Development, recently shared a quote to inspire hoteliers to take revenue maximisation into their own hands: “Increase your rates; do it with confidence. … Stop wasting money … Buy smart technology… This is a very simple business … don’t get swooned by all the

Automation in Hotel Revenue Management: Yes, or No?Revfine.com2023-12-06T15:18:02+01:00

What Data is Most Valuable To Hotels When Forecasting?

Suzanne2023-12-06T15:33:44+01:00

Question for Our Revenue Management Expert Panel: What information is most important to hotels when forecasting? What data should be prioritised by revenue management teams? (Question proposed by Daniel Feitosa) Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head Family Theresa Prins - Founder, Revenue Resolutions Daniel Feitosa

What Data is Most Valuable To Hotels When Forecasting?Suzanne2023-12-06T15:33:44+01:00

Hotel Revenue Management

Optimizing revenue and growing your business

Explainers