Hotel Revenue Management Strategies & Tips

How to Lead with Data: Transforming Hotel Group and Meeting Bookings through Analytics

Revfine.com2024-11-19T10:39:46+01:00

Data is the backbone of modern hospitality and relying on outdated, fragmented systems can be a recipe for disaster, especially in managing group and meeting bookings. If your hotel is not harnessing the full potential of integrated data management, you are jeopardizing the guest experience. Disjointed platforms can lead to miscommunications, missed opportunities and operational chaos. By leveraging analytics, you

How to Lead with Data: Transforming Hotel Group and Meeting Bookings through AnalyticsRevfine.com2024-11-19T10:39:46+01:00

The Vital Role of Revenue Management and Brand Reputation

Revfine.com2024-11-19T10:40:58+01:00

It’s an antiquated idea that revenue management works independently from sales and marketing. Each department impacts the other and influences the hotel’s overall profitability. Every business goal contributes to the bottom line. When the revenue-generating departments work together on shared goals, they can contribute to a fatter bottom line. In today’s world, hotel bookings start with getting found online. Without

The Vital Role of Revenue Management and Brand ReputationRevfine.com2024-11-19T10:40:58+01:00

Can Metrics from Other Industries Bring Value to Hospitality?

Suzanne2024-11-07T09:48:23+01:00

Question for Our Revenue Management Expert Panel: Is there value to be had in introducing metrics from other industries into hospitality? Do you think they have a place in Hotel Revenue Management? (Question by Pablo Torres) Our Revenue Management Expert Panel Pablo Torres - Hotel Consultant Dr. Betsy Stringam-Bender - Professor of Hotels

Can Metrics from Other Industries Bring Value to Hospitality?Suzanne2024-11-07T09:48:23+01:00

5 Reasons to Choose a Hospitality-Focused BI Solution for Your Hotel

Revfine.com2024-11-05T13:54:56+01:00

As a hotelier, making sense of your data is not a simple task. It often involves consolidating information across multiple systems to understand guest preferences, improve the financial health of your business, and proactively plan for the future. Hospitality-Focused BI Tools vs. Generic Options Business intelligence (BI) software has become an indispensable tool for hoteliers looking to make informed decisions

5 Reasons to Choose a Hospitality-Focused BI Solution for Your HotelRevfine.com2024-11-05T13:54:56+01:00

Late Check-In Hotel Guide: Key Strategies for Hoteliers

Martijn Barten2024-11-05T13:56:25+01:00

A late check-in hotel offers short-term accommodation, with the option for guests to arrive later than the standard check-in time. These hotels need to develop robust policies and strategies around the check-in process. Late check-ins are important because guests want flexibility. The option to check in at a time that suits them can make a positive first impression, while late

Late Check-In Hotel Guide: Key Strategies for HoteliersMartijn Barten2024-11-05T13:56:25+01:00

Interview with Pablo Torres, Hospitality Consultant

Revfine.com2024-10-28T10:47:50+01:00

In this article, we interview Pablo Torres, a hospitality management expert specializing in revenue optimization and guest experience. With over 20 years in the industry, Pablo develops innovative strategies that drive ancillary revenue and operational efficiency. He is also a consultant, educator, and LinkedIn Top Voice, recently launching his new book Mastering Hospitality Ancillary Revenue.

Interview with Pablo Torres, Hospitality ConsultantRevfine.com2024-10-28T10:47:50+01:00

Overbooking Done Right: How to Fill Rooms Without Upsetting Guests

Revfine.com2024-10-21T18:51:30+02:00

Imagine you're at the front desk, midway through a busy day, when you suddenly realize you’re overbooked. Guests are still pouring in, but you know—awkward conversations and unhappy faces await you. But overbooking doesn’t have to be chaotic. When done strategically, it can increase occupancy and revenue. This article will show you how to master overbooking and turn a stressful

Overbooking Done Right: How to Fill Rooms Without Upsetting GuestsRevfine.com2024-10-21T18:51:30+02:00

Beyond Revenue: How Smart Upsell Solutions Improve Hotel Efficiency

Revfine.com2024-10-21T13:10:46+02:00

Upsell solutions offer more than just extra revenue; they streamline hotel operations by using real-time data to optimize staffing, forecasting, and resource allocation. In this article, you’’ll explore how these technologies can sharpen key processes while delivering personalized experiences, driving improvements in both hotel efficiency and guest satisfaction. Enhancing Guest Engagement and Revenue with Smart Hotel Upsells One of the

Beyond Revenue: How Smart Upsell Solutions Improve Hotel EfficiencyRevfine.com2024-10-21T13:10:46+02:00

Dynamic Pricing: Benefits & Tips for Hoteliers to Increase Revenue

Martijn Barten2024-10-21T13:11:37+02:00

Dynamic pricing is a strategy where the price of products or services is adjusted based on market conditions. This typically means charging high prices during periods of high demand and low prices during low demand periods. For hotels, dynamic pricing plays a crucial role in revenue management, incentivizing bookings at crucial times. The ultimate aim of dynamic pricing is to

Dynamic Pricing: Benefits & Tips for Hoteliers to Increase RevenueMartijn Barten2024-10-21T13:11:37+02:00

How Has Artificial Intelligence Impacted Revenue Management Roles and Systems So Far?

Revfine.com2024-10-14T14:12:47+02:00

Question for Our Revenue Management Expert Panel: Some roles are shrinking due to Artificial Intelligence. How have revenue management roles and systems been affected to date? (Question by Oleksii Kapichin) Our Revenue Management Expert Panel Niko Krauseneck - Founder, RevenueRebel Tamie Matthews - Sales & Marketing Consultant, RevenYou Nikolas Hall - Owner, N.

How Has Artificial Intelligence Impacted Revenue Management Roles and Systems So Far?Revfine.com2024-10-14T14:12:47+02:00

Breaking the Silos: Marrying Commercial and Finance Analytics for the Greater Good of Everyone

Revfine.com2024-09-23T18:20:47+02:00

In today’s complex and competitive hospitality environment, complacency is not an option. Data-driven decision-making is essential for the success of your business. In most organizations commercial analytics are the domain of sales, marketing and particularly revenue management. Financial data is leveraged by Accounting and Finance teams focusing on costs, profitability and overall financial health. In this article you’ll learn why

Breaking the Silos: Marrying Commercial and Finance Analytics for the Greater Good of EveryoneRevfine.com2024-09-23T18:20:47+02:00

The Myopic Pursuit of Channel ROAS: How to Avoid this Hotel Industry Pitfall

Revfine.com2024-09-23T18:23:16+02:00

In the ever-evolving landscape of digital marketing, the hotel industry finds itself at a crossroads. While embracing the digital revolution, many hoteliers have fallen into a trap that threatens to undermine their marketing efforts; an obsessive focus on individual channel return on ad spend (ROAS). This fixation, while seemingly logical, is creating a significant disconnect in the industry's approach to

The Myopic Pursuit of Channel ROAS: How to Avoid this Hotel Industry PitfallRevfine.com2024-09-23T18:23:16+02:00

Late Check-Out Hotel Strategies: A Comprehensive Guide for Hoteliers

Martijn Barten2024-10-18T17:36:38+02:00

Late check-out hotel strategies are based on allowing guests to extend their stay beyond the standard check-out time. Hotels will often charge guests extra for the option of checking out late. These strategies are important for the guest experience because they add an extra level of convenience. In addition, late check-out can be important for hotels because it provides an

Late Check-Out Hotel Strategies: A Comprehensive Guide for HoteliersMartijn Barten2024-10-18T17:36:38+02:00

How to Increase Revenue with Minimum Stay Rule: Solving the Case, Sherlock Holmes Style.

Revfine.com2024-09-09T21:10:09+02:00

Imagine yourself as the Sherlock Holmes of hospitality, piecing together clues to solve the case of boosting your hotel’s revenue. One of the intriguing clues? Minimum stay restrictions. This strategy might seem simple, but when used correctly, it can open the door to higher occupancy rates and increased revenue. In this article, you’ll dive into the mysteries of minimum stay

How to Increase Revenue with Minimum Stay Rule: Solving the Case, Sherlock Holmes Style.Revfine.com2024-09-09T21:10:09+02:00

Loyal Guests: Unlocking Revenue with Loyalty Programs and Ancillaries

Revfine.com2024-09-17T12:43:29+02:00

Studies show that loyalty program members aren’t just frequent travelers; they’re also highly engaged customers who are willing to spend on additional services to enhance their experience. In this article, you'll learn how hotels can expand their loyalty programs and integrate ancillary products and services to maximize loyalty, boost revenue, and drive long-term growth. Loyalty Programs Drive Hotel Revenue Growth

Loyal Guests: Unlocking Revenue with Loyalty Programs and AncillariesRevfine.com2024-09-17T12:43:29+02:00

Harnessing Hotel Business Intelligence: 5 Key Questions Your Data Should Answer

Revfine.com2024-08-27T12:25:46+02:00

Embracing data-driven decision-making is vital for hotels looking to thrive in today's competitive environment. From identifying top revenue-generating channels to tracking total revenue per available room (TrevPAR) and managing costs, having access to interconnected data allows hoteliers to make quick, informed decisions that can boost operational efficiency, elevate the guest experience, and drive revenue growth. Unlocking Hotel Success with Data-Driven

Harnessing Hotel Business Intelligence: 5 Key Questions Your Data Should AnswerRevfine.com2024-08-27T12:25:46+02:00

3 Essential Tips to Maximize Revenue Hoteliers Can Implement Right Away

Revfine.com2024-08-13T17:13:08+02:00

It's important to have revenue management strategies in place to maximize revenue. Whether you use a revenue management system (RMS) or manage your prices manually, this article covers three essential strategies, recommended by our revenue management experts, to help you stay competitive. 3 Essential Tips to Maximize Your Hotel Revenue In the next sections, you will learn about three crucial

3 Essential Tips to Maximize Revenue Hoteliers Can Implement Right AwayRevfine.com2024-08-13T17:13:08+02:00

5 Revenue Management Tips for Beach, City, Mountain, or Countryside Hotels

Revfine.com2024-08-13T17:13:16+02:00

As a hotelier, you know your hotel faces unique revenue management challenges. Your location, primary types of travelers, and the season of the year all play into profitable pricing strategies. This article addresses specific ways to improve your revenue and profitability, regardless of location or seasonality. Revenue Management Tips for Beach, City, Mountain, or Countryside Hotels Some of these tips

5 Revenue Management Tips for Beach, City, Mountain, or Countryside HotelsRevfine.com2024-08-13T17:13:16+02:00

Hotel Revenue Management

Optimizing revenue and growing your business

Strategies