Hotel Revenue Management Strategies & Tips

15 Revenue Management Strategies to Grow Your Hotel Business

Martijn Barten2024-07-16T19:16:45+02:00

For hotel owners looking to grow their business, a robust revenue management strategy is of the utmost importance, helping to optimize business results. However, under the broader revenue management umbrella, many smaller strategies can help to facilitate growth. In this article, find 12 revenue management strategies that hotel industry employees can employ to achieve this ultimate objective. Table of Contents

15 Revenue Management Strategies to Grow Your Hotel BusinessMartijn Barten2024-07-16T19:16:45+02:00

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

Revfine.com2024-04-02T13:04:21+02:00

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 HotelRevfine.com2024-04-02T13:04:21+02:00

4 Tips for a Smart Overbooking Approach

Revfine.com2023-12-29T16:31:28+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 ApproachRevfine.com2023-12-29T16:31:28+01:00

Top 3 Hotel Rate Parity Issues and How to Fix Them

Revfine.com2024-04-10T17:00:52+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 ThemRevfine.com2024-04-10T17:00:52+02:00

Mastering Ancillary Revenue: Key Lessons and Strategies

Revfine.com2023-12-29T16:30:09+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 StrategiesRevfine.com2023-12-29T16:30:09+01:00

Embracing Hybrid Hospitality: A Blueprint for Boosting Hotel Revenue

Revfine.com2023-12-29T16:31:03+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 RevenueRevfine.com2023-12-29T16:31:03+01:00

Best AI Use Cases and Strategies in Hotel Revenue Management

Suzanne2023-12-11T10:28:07+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 ManagementSuzanne2023-12-11T10:28:07+01:00

Benefits of Hyper-Personalisation in Revenue Management

Suzanne2024-04-10T12:30:06+02:00

Question for Our Revenue Management Expert Panel: What are the benefits of hyper-personalisation in revenue management? What do hotels need to do in order to achieve hyper-personalisation, and are their efforts worth it? (Question by Nikolas Hall) Our Revenue Management Expert Panel Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts

Benefits of Hyper-Personalisation in Revenue ManagementSuzanne2024-04-10T12:30:06+02:00

Facing Automation Fears: A Perspective for Hoteliers

Revfine.com2023-12-06T10:54:40+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 HoteliersRevfine.com2023-12-06T10:54:40+01:00

The Role of Hotel Reception Staff on Revenue Management

Revfine.com2024-04-02T13:05:26+02:00

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 ManagementRevfine.com2024-04-02T13:05:26+02:00

Top Tips for Building a B2B Revenue Management Strategy for Hotels

Suzanne2023-12-06T11:08:30+01:00

Question for Our Revenue Management Expert Panel: What advice can you offer to hotels implementing a B2B revenue management strategy? How does the strategy differ compared to a B2C audience and what are your top tips for success? Our Revenue Management Expert Panel Krunal Shah - Director of Revenue Management, The Biltmore Mayfair,

Top Tips for Building a B2B Revenue Management Strategy for HotelsSuzanne2023-12-06T11:08:30+01:00

How the Right Hotel Data Can Transform Your Property

Revfine.com2023-12-06T11:09:49+01:00

Hospitality is awash with data. From pricing analysis to targeted marketing, from occupancy rates to guest engagement, every hotelier knows that metrics are important – but how do you sort the interesting from the invaluable? What to Do with the Hotel Data? The sheer amount of data can be daunting, because it typically requires several platforms to access and interpret

How the Right Hotel Data Can Transform Your PropertyRevfine.com2023-12-06T11:09:49+01:00

Strategies to Optimize Your Holiday Park’s Revenue Next Summer

Revfine.com2023-12-06T11:13:29+01:00

Was your summer a revenue bonanza, or more of a busy bust? The summer busy season is undoubtedly a critical stretch for holiday park owners. For many, it's the time to bolster your budgets and make up for the slower months. While plenty of work must be done to ensure your next summer's guests have an excellent experience, it's also

Strategies to Optimize Your Holiday Park’s Revenue Next SummerRevfine.com2023-12-06T11:13:29+01:00

Unique Direct Booking Perks: The Power of Travel Assistance Insurance

Revfine.com2023-12-20T18:38:20+01:00

Today, as travelers seek a blend of convenience, security, and added value, hoteliers can distinguish themselves by providing incentives that resonate deeply with potential guests. Travel assistance insurance has emerged as a powerful tool that not only sets hotel’s direct channel offerings apart but also empowers guests with peace of mind and solidifies a brand's position as a go-to choice

Unique Direct Booking Perks: The Power of Travel Assistance InsuranceRevfine.com2023-12-20T18:38:20+01:00

5 Ways to Invest Surplus Marketing Funds Before Year End

Revfine.com2023-12-06T12:03:01+01:00

As the fiscal year ends, it’s not uncommon for hotel teams to discover unallocated funds in their marketing budget. Since the golden rule of budgeting is “use it or lose it,” here are five quick, effective ways to make an impact with surplus dollars before the end of the year. Sometimes it’s a strategic safety net. Sometimes it’s dumb luck.

5 Ways to Invest Surplus Marketing Funds Before Year EndRevfine.com2023-12-06T12:03:01+01:00

Rethinking Off-Season: Revenue Strategies Hoteliers Need to Follow

Revfine.com2023-12-06T12:03:18+01:00

Unless you’re operating a ski resort or fortunate enough to have a property located in a year-round warm-weather travel destination, the autumn and winter months can be particularly slow for hoteliers. These low-season booking conditions can lead to some hoteliers adopting an ‘a busy hotel is a successful hotel’ strategy, accepting lower-rated business and relying on the in-house spend on

Rethinking Off-Season: Revenue Strategies Hoteliers Need to FollowRevfine.com2023-12-06T12:03:18+01:00

5 Strategies to Increase TrevPAR at Your Hotel

Revfine.com2023-12-06T12:07:21+01:00

From ADR to RevPAR and GOPPAR, lodging operators must track many metrics to assess business performance and make strategic decisions. One of the most powerful but overlooked measures of success for hotels today is TRevPAR, or total revenue per available room. Here we discuss what TRevPAR is and how to increase it at your property. The Rising Importance of Measuring

5 Strategies to Increase TrevPAR at Your HotelRevfine.com2023-12-06T12:07:21+01:00

How Hotels Can Tackle Inflation and Boost Profitability

Revfine.com2023-12-06T12:09:42+01:00

After a strong end to 2022 - with European hotel performance reaching 2019 levels - January 2023 saw energy costs peak in many countries. Coupled with a fall in demand, the increased expenses of hotel operations led to a fall in. Although there is evidence of recovery into Spring/Summer, hoteliers must be alert to ensure that 2023 is profitable. The

How Hotels Can Tackle Inflation and Boost ProfitabilityRevfine.com2023-12-06T12:09:42+01:00

Hotel Revenue Management

Optimizing revenue and growing your business

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