Revenue Manager Job Description: What to Look For?
Before embarking on a career in revenue management, reading a comprehensive revenue manager job description can be useful. After all, it is a position with many different responsibilities connected to it, and it is also important to get a sense of the required skills, qualities, and qualifications. In this article, you will find a description of what revenue management entails and why it is so important for hotels. Table of Contents: What is Revenue Management?
Revenue Manager: Tasks, Skills, Education, Salary, Courses and More…
The role of a revenue manager is one of the most important within hotels and similar organizations, assisting the business by optimizing financial performance. However, many people remain unclear about exactly what a revenue manager is, what tasks are connected to the job, the level of education required, and the salary. In this article, you can learn more about these aspects and build a much clearer picture of what 'revenue manager' really means. Table of
Revenue Management vs Yield Management
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 in greater detail. Table of Contents: Defining the Two Strategies Why Are Yield and Revenue
What Revenue Management Trends and Strategies will we see in 2023?
Question for Our Revenue Management Expert Panel: What are your predictions for the revenue management trends and strategies we can expect to see in 2023? Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head Family Dermot Herlihy - Owner, Dynamic Hospitality Consulting Ricardo Sereno - Revenue Manager, Altis Hotels Pablo Torres - Director Of Sales and Marketing, Alannia Resorts Dr. Betsy Stringam-Bender -
4 Tips for a Smart Overbooking Approach
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 be done to improve a potentially challenging scenario for staff and guests alike. Instead of
5 Ways to Transform Your Hotel Into a Smart Hotel
Hotel owners and other leaders within the hotel industry are constantly striving for new ways to reduce costs and improve the customer experience. One of the emerging trends within this area is smart hotel technology. In this article, you will learn more about what a smart hotel is, why it benefits owners and customers alike, and ways you can transform your standard hotel room offering into a cutting-edge smart room. What is a Smart Hotel?
Smart Hotel Technology; 7 Technologies to Smart Up Your Hotel
None of us want to leave the comfort of our homes and downgrade our lives. We live in a world of smart technology, and we fully expect to holiday in a smart hotel technology world too. We can expect our hotels to lift our experiences from our everyday lives. The hotels should and could be shining examples of everything right with a smart hotel room. Here, we'll look at seven of the most innovative and
Mythbusters: Revenue Management Technology
Do you run a smaller hotel or B&B that uses only manual processes to manage all your reservations, pricing, and inventory allocation? Have you avoided implementing technology to help support your internal operations because you worried that the solutions would cause more problems than they would solve? If so, then
Motel Meaning: Understanding the Role of Motels in the Industry
Motels are overnight accommodations for motorists and remain important in the wider hotel industry. In this article, you will be able to obtain a clear motel meaning or definition, gain insights into the history of the motel industry and the current role of motels, and learn about the motel technology
Mobile First: How to Boost Hotel Visibility and Drive Direct Bookings
Customer behavior is evolving from search to interaction, and mobile is driving this shift. Hotels that rethink their guest communication to meet new and changing behavior will boost their visibility and drive their direct bookings. This article reveals the mobile behavior trends shaping the hospitality industry and how hotels can
Mobile Check-In App for Hotels: What Are The Benefits?
In recent years, mobile check-in apps for hotels gained popularity due to the efficiency of guests and hotels. Since the check-in process is contactless and more hygienic, it has gotten an extra boost since the coronavirus pandemic. Not only do these methods cater to the needs of tech-savvy customers, but
How to Increase Revenue with Minimum Stay Rule: Solving the Case, Sherlock Holmes Style.
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
How to Attract and Convert the Millennial Hotel Booker
A recent study by Boutique Hotelier (1) revealed that 42% of millennials plan to spend more on travel in 2023, presenting a significant opportunity for hotel brands. With this in mind, we've been keeping a close eye on the latest generation of travelers to understand what sets them apart from