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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

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

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

How To Increase Hotel Revenue With Easy Pre-Authorizations

2025-02-23T11:55:25+01:00

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-Authorizations2025-02-23T11:55:25+01:00

Differing Revenue Management Strategies for New Vs Established Hotels

2023-12-06T13:49:57+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 Hotels2023-12-06T13:49:57+01:00

Tips to Take Advantage of Changing Booking Behavior Before Your Competition

2023-12-06T15:11:40+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 Competition2023-12-06T15:11:40+01:00

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

2023-12-06T15:13:33+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 Personalization2023-12-06T15:13:33+01:00

Automation in Hotel Revenue Management: Yes, or No?

2023-12-06T15:18:02+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?2023-12-06T15:18:02+01:00

Learn How to Maximize Your Premium Hotel Room Revenue

2023-12-06T15:18:24+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 Revenue2023-12-06T15:18:24+01:00

Tips for Maximizing Revenue Potential Before Opening a New Hotel

2023-12-06T15:28:53+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 Hotel2023-12-06T15:28:53+01:00

How Can Hotels Reach Their Ancillary Revenue Management Potential?

2023-12-06T15:47:16+01:00

Question for Our Revenue Management Expert Panel: The importance of Ancillary Revenue Management is growing. What ARM strategies can be used to increase room revenue / revenue per guest? (Question proposed by Pablo Torres) Our Revenue Management Expert Panel Theresa Prins - Founder, Revenue Resolutions Nikhil Roy - Revenue & Pricing Manager, Key

How Can Hotels Reach Their Ancillary Revenue Management Potential?2023-12-06T15:47:16+01:00

Forward-Looking Demand Data: The Secret to Optimising Revenue in Challenging Times

2023-12-06T15:57:41+01:00

Name an area of life or work that the pandemic didn’t impact. It’s not easy to find one, is it? Especially in the hospitality industry, it feels like hardly anything is as it was before COVID. However, there’s one thing that has dramatically gained importance. It’s your ability as a revenue manager to grasp market trends, foresee demand shifts and

Forward-Looking Demand Data: The Secret to Optimising Revenue in Challenging Times2023-12-06T15:57:41+01:00

3 Ways to Streamline Upselling Across Your Entire Hotel Chain

2023-12-06T16:02:57+01:00

Once it’s in place, an automated upselling system brings countless advantages, like a more personalised guest experience, increased revenue and a more efficient workflow. Achieving these results at a single property may feel relatively straightforward. But how can you replicate them at all hotels across your chain or brand? 1. Facilitate System Adoption The easier you make it for teams

3 Ways to Streamline Upselling Across Your Entire Hotel Chain2023-12-06T16:02:57+01:00

Protecting Your Hotel’s Cash Flow & Improving Asset Valuation

2023-12-06T16:03:55+01:00

Hotel revenue management plays a central role in protecting, forecasting, and strengthening a hotel's cash flow and overall financial position by enhancing the cash position of the asset. Additional revenue generated by a revenue management system directly flows into the amount of cash available. This higher rate of cash flow—combined with detailed forecasts that enable expense management—has a number of

Protecting Your Hotel’s Cash Flow & Improving Asset Valuation2023-12-06T16:03:55+01:00

A Few Thoughts on Your Hotel’s Distribution & Channel Strategy

2023-12-06T16:08:57+01:00

When engaging with online travel agencies (OTAs) in these volatile times, hoteliers must adequately understand the value and costs of all distribution channels. Any relationship weighted in favour of an OTA to the detriment of a hotel’s bottom line needs to be reviewed, and steps should be taken to maximise direct bookings. Hoteliers Should Explore OTA Alternatives For many hoteliers,

A Few Thoughts on Your Hotel’s Distribution & Channel Strategy2023-12-06T16:08:57+01:00

How Hotel Automation Increases Early Check-in & Late Checkout Revenue

2023-12-06T16:11:04+01:00

When you hear the word automation, it may conjure up images of a future where artificial intelligence and robots take over jobs. The reality, however, is much more nuanced. The notion of automation generally remains ossified in this physical, machine-replace-labour frame and is perceived as another step toward automation-led obsolescence. Automation in Everyday Life Discussions about automation all too often

How Hotel Automation Increases Early Check-in & Late Checkout Revenue2023-12-06T16:11:04+01:00

The Power of Lean Revenue Management; Sophisticated But Not Complex

2023-12-06T16:15:08+01:00

The global pandemic has sped up a trend in revenue operations (RevOps) throughout the business world. Forrester recently published a study that found that many companies are moving towards more centralized RevOps. They’ve understood that revenue is more than an outcome and instead of a result of a business process where commercial teams come together to achieve their goals. Comprehensive

The Power of Lean Revenue Management; Sophisticated But Not Complex2023-12-06T16:15:08+01:00
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