Hotel Revenue Management Strategies & Tips

Accommodation Service Providers: Successful Tips for More Revenue

Martijn Barten2024-06-01T13:47:07+02:00

Accommodation service providers include everything from hotels and hostels to bed and breakfast accommodations, motels, and serviced apartments. In this article, you can access relevant tips for all accommodation service providers to generate more customer revenue. Table of Contents: What is Accommodation Service? Accommodation Service Types Tips & Strategies to Increase Revenue for Accommodation Service Providers Clear and Logical Branding

Accommodation Service Providers: Successful Tips for More RevenueMartijn Barten2024-06-01T13:47:07+02:00

4 New Technologies To Help Increase F&B Revenue

Revfine.com2023-12-06T12:13:21+01:00

In modern hotels, generating income goes beyond room rates and prime locations. While these factors are undoubtedly important, a realm of untapped potential can significantly boost profitability: food and drinks revenue, also known as F&B. 4 New Technologies to Increase F&B Revenue By focusing on this dynamic aspect, hotels can maximize their earnings, even without expanding their capacity or hosting

4 New Technologies To Help Increase F&B RevenueRevfine.com2023-12-06T12:13:21+01:00

Top 3 Goals for Independent Properties and Strategies for Success

Revfine.com2023-12-20T17:33:29+01:00

They say after the storm comes a calm. However, the storm has yet to pass in the hospitality industry. While seeing the light again is possible, the industry still navigates in turbulent waters. Why? With a fierce competition of over 17.5 million guestrooms in 187,000 hotels (1) worldwide, independent hotels know they have to compete for their share of business

Top 3 Goals for Independent Properties and Strategies for SuccessRevfine.com2023-12-20T17:33:29+01:00

How to Use Your (Guest) Data to Increase Revenue?

Revfine.com2023-12-06T12:38:42+01:00

The recent years with a turbulent and unpredictable market have made hoteliers used to dramatic change. Guest booking behavior and previously established travel patterns have been replaced by new ones belonging to a hotelier's daily challenges. New travel trends and changing guest behavior are here to stay; they must act upon them. The Importance of Guest Data If you, as

How to Use Your (Guest) Data to Increase Revenue?Revfine.com2023-12-06T12:38:42+01:00

Streamlining F&B Operations: Revenue Management Strategies for Success

Revfine.com2023-12-06T12:42:19+01:00

In today's competitive landscape, optimizing revenue and maximizing profitability is crucial for success in the food and beverage (F&B) industry. F&B establishments need to implement effective revenue management strategies to achieve these goals. Streamlining F&B Operations Businesses can streamline their operations and enhance their financial performance by adopting a systematic approach to pricing, inventory management, and customer segmentation. In this

Streamlining F&B Operations: Revenue Management Strategies for SuccessRevfine.com2023-12-06T12:42:19+01:00

Accommodation Providers: Strategic Tips to Get More Revenue

Martijn Barten2024-06-01T15:28:17+02:00

If you've ever considered becoming an accommodation provider or already own accommodation and want to maximize your revenue, this article is for you. In this in-depth dive into accommodation ownership, you can learn about the many different types of accommodation available for travelers and how you can get more revenue as an owner. Table of Contents: What Is the Hotel

Accommodation Providers: Strategic Tips to Get More RevenueMartijn Barten2024-06-01T15:28:17+02:00

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

Revfine.com2023-12-20T18:39:34+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 RevenueRevfine.com2023-12-20T18:39:34+01:00

Hotel Restaurant Management: Tips to Maximize Revenue for Your Hotel

Martijn Barten2024-06-01T15:28:50+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 HotelMartijn Barten2024-06-01T15:28:50+02:00

15 Strategies to Boost Hotel Food and Beverage Revenue

Revfine.com2023-12-06T13:35:46+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 RevenueRevfine.com2023-12-06T13:35:46+01:00

Break Siloes and Foster Synergies to Optimize Hotel Profits

Revfine.com2023-12-06T13:46:29+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 ProfitsRevfine.com2023-12-06T13:46:29+01:00

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

Revfine.com2023-12-06T13:48:22+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 RevenueRevfine.com2023-12-06T13:48:22+01:00

How To Increase Hotel Revenue With Easy Pre-Authorizations

Revfine.com2024-04-02T13:10:15+02:00

While hoteliers know credit card pre-authorization, many don't incorporate it into their reservation policies. Or, if they do, they leave it up to OTAs. Either way, ignoring the impact of well-managed pre-authorizations on your hotel's revenue is a mistake. Flexibility for Guests and Guarantees for Hoteliers Pre-authorizations are a temporary hold of a specified monetary amount made on a guest's

How To Increase Hotel Revenue With Easy Pre-AuthorizationsRevfine.com2024-04-02T13:10:15+02:00

Differing Revenue Management Strategies for New Vs Established Hotels

Suzanne2023-12-06T13:49:57+01:00

Question for Our Revenue Management Expert Panel: What are the recommended revenue management strategies for new hotels / resorts? How do they differ to those used by established properties? Our Revenue Management Expert Panel Dr. Betsy Stringam-Bender - Professor of Hotels & Resorts, New Mexico State University Ricardo Sereno - Revenue Manager, Altis

Differing Revenue Management Strategies for New Vs Established HotelsSuzanne2023-12-06T13:49:57+01:00

Tips to Take Advantage of Changing Booking Behavior Before Your Competition

Revfine.com2023-12-06T15:11:40+01:00

While the Omicron variant slowed market recovery in 2021, STR's data reveals a strong positive trend for the hospitality industry for 2022 and beyond. In this article, you'll learn how to stay ahead of the competition by understanding the three data pillars of a forward-looking revenue strategy. Global Occupancy Increased It shows that the net propensity to travel has increased

Tips to Take Advantage of Changing Booking Behavior Before Your CompetitionRevfine.com2023-12-06T15:11:40+01:00

How Attribute-based Selling Solves the Hotel Industry’s Problem with Personalization

Revfine.com2023-12-06T15:13:33+01:00

As consumers, we're surrounded by extreme personalization every day. Whether AI-driven provides product recommendations, options when booking an airline ticket or even adding extra pepperoni on a pizza, consumers are commonly exposed to personalization mechanisms in their online shopping experiences. Consumers Expect Personalization Consumers have come to expect personalization as a standard function. An overwhelming 70% say we will shop

How Attribute-based Selling Solves the Hotel Industry’s Problem with PersonalizationRevfine.com2023-12-06T15:13:33+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

Learn How to Maximize Your Premium Hotel Room Revenue

Revfine.com2023-12-06T15:18:24+01:00

Do you put your Premium Rooms on a pedestal? A more nuanced approach will yield more revenue. Suites are a peculiar thing within the hotel industry. They are, after all, just hotel rooms for rent. But some hoteliers are very attached to what their premium represents–the hotel's very best. In a way, these special rooms are protected. Some hotels may

Learn How to Maximize Your Premium Hotel Room RevenueRevfine.com2023-12-06T15:18:24+01:00

Tips for Maximizing Revenue Potential Before Opening a New Hotel

Revfine.com2023-12-06T15:28:53+01:00

Opening a new hotel or resort property is thrilling and daunting. Wherever you are on your new hotel journey, it's never too soon to assess your revenue optimisation needs. Your new hotel's revenue management approach will play an impactful role at every stage of development, from staffing decisions to tech budgets to sales, marketing, and distribution tactics. Pre-Opening Considerations Given

Tips for Maximizing Revenue Potential Before Opening a New HotelRevfine.com2023-12-06T15:28:53+01:00

Hotel Revenue Management

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