Overcoming New Tech Pains: RMS Change-Management Tips
Whether ditching a subpar revenue management system (RMS) provider for something better or implementing automated revenue tech for the first time—change is hard. But not changing could be disastrous for hotel businesses hoping to remain competitive and run efficiently and profitably in the new industry landscape of 2021 and beyond. Keep reading for tips on navigating the tech change for your hotel and overcoming the pain and obstacles of implementing a new RMS. Navigating Change
The Risks of Ignoring Revenue Management’s Budget Advice
Question for Our Revenue Management Expert Panel: What happens if hotel owners do not listen to revenue managers during budget preparations? What advice would you give to an RM team when asked to justify their budget? (Question by Connor Vanderholm) Our Revenue Management Expert Panel Connor Vanderholm - CEO, Topline Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Heiko Rieder - Vice President Business Development, Hirmer
RevPAR versus RevPOR
Revenue per available room, or RevPAR, and revenue per occupied room, or RevPOR, are two KPIs used within the hotel industry, especially for revenue management purposes. Although the two metrics have similar names, what they measure is quite different, meaning neither KPI is necessarily more useful than the other. How Do You Calculate RevPAR and RevPOR? The formulas for working out the revenue management metrics RevPAR and RevPOR are as follows: RevPAR = Rooms Revenue
RevPAR versus GOPPAR
Revenue per available room, or RevPAR, and gross operating profit per available room, or GOPPAR, are two of the most vital KPIs available to hotel managers. Both form an important part of any effective revenue management strategy. Both metrics concern themselves with occupancy rates, but they detail very different things, as one is centered around money being brought in, while the other is based on overall profit. How Do You Calculate RevPAR and GOPPAR? The
Spa Software: How to Choose the Best Software for Your Spa?
Spa software is used within spas, beauty salons and similar businesses to manage day-to-day operations. The software typically allows you to manage bookings and finances, create employee schedules, and oversee inventory information. The importance of spa software lies in its ability to help staff manage important information. This includes data related to customer bookings and information relevant to spa employees. In this article, you can learn more about spa management software and why it is
7 Social Media Truths from High-Performing Hotel Marketing Teams
Social media strategy can be a beast for marketing teams to manage. Every few months there are game-changing updates, and every day seems to bring a new trend or tool to consider, but change isn't the only constant in digital marketing. Here are seven social media truths from high-performing hotel marketing teams. 7 Social Media Truths from Top Hotel Marketing Teams Marketing teams well understand that no two social media channels – or their audiences
8 Social Media Strategies For Hotels to Engage With Guests
Social media strategies for hotels are currently just as important as in other sectors. Effective social media marketing in the hotel industry can elevate your brand profile, increase website traffic, and boost reservations. Engaging with hotel guests via social media is a great way to gain valuable feedback and encourage customer loyalty. In this article, you'll learn eight social media strategies that work. Table of Contents: What Is Social Media Marketing? How Significant Are Social
Rethinking Off-Season: Revenue Strategies Hoteliers Need to Follow
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,
NRevPAR Clearly Explained!
Net revenue per available room, or NRevPAR, is used by those within the hotel industry as part of a wider revenue management strategy, helping them to assess overall business performance. As a KPI, the NRevPAR metric is similar to RevPAR, but factors in distribution costs. Therefore, it is arguably a
Night Auditor Duties & Responsibilities in Hotel: Everything to Know
Night Auditor duties and responsibilities in hotels involve helping guests during the night hours and balancing the day's accounts. Guests arriving at night may be checked in by the night auditor, who will also take reservations and see any requests that might arise. The night auditor's duties involve processing the
NFT Hotel Opportunities: How Hotels Could Use NFT Technology
The concept of a non-fungible token, or NFT, is still relatively new, and brands are exploring the various ways they can capitalize on this trend. In this article, you can find out about some of the existing NFT hotel offerings, along with some of the ways NFT technology will likely
Moving Ahead Towards The Light: The Hospitality Industry’s New Trials and Possibilities
There's no doubt that 2022 brought terrific developments for the hospitality industry. Most countries reopened their borders and did away with travel restrictions, and demand matched or even exceeded 2019 levels. However, it's not smooth sailing all around. Our sector faced many ongoing challenges due to the pandemic, and some
Considering a New Hospitality RMS? Watch Out for These 4 Myths
So, you’re thinking about upgrading to a more effective revenue management system (RMS) for your hospitality organization, but you have some doubts. Maybe you’re thinking: It’s too costly to install a different RM Learning a new system will take too much of my staff’s bandwidth My new system will take