Airline Revenue Management: What is It, How Does it Work & Examples
Given the volatility of demand and the high fixed costs involved in operating commercial flights, it's no surprise that the airline industry has always been at the forefront of revenue management. Commercial airlines were some of the first companies to analyze consumer behavior and tailor their prices to the information. In this article, you'll learn everything you need to know about revenue management. Table of Contents: What Is the Airline Industry? What Is Revenue Management?
All-Inclusive Resorts: Successful & Effective Marketing Strategies
All-inclusive resorts can appeal to guests through convenience and value for money, but using the right marketing strategies is essential. In this article, you can learn about all-inclusive resorts, learn about the different customer groups to focus on, and explore the most effective marketing strategies to deploy. Table of Contents: What is the Hotel Industry? What Is an All-Inclusive Resort? Target Groups for All-Inclusive Resorts Multi-Generational Families Adventure Seekers Health and Fitness Travelers Luxury Vacationers
How Would You Guide Hotels Trying to Convey Inclusion Via Marketing?
Question for Our Hotel Marketing Expert Panel How Would You Guide Hotels Trying to Convey Inclusion Via Marketing? Our Marketing Expert Panel Dustin Caromano – Director of Marketing and eCommerce, Première Advisory Group Cory Falter - Partner and Visionary at Lure Agency Linda Bekoe - CEO at APLBC & CEO at Bekoe.com Nicole Sideris - Founder & Prinicipal Consultant, X Hospitality Thom de Graaf - Digital Marketing Specialist
What Tech Trends Are Impacting Revenue and Guest Experiences In 2023?
Question for Our Revenue Management Expert Panel: What Tech Trends Are Impacting Revenue and Guest Experiences In 2023? Our Revenue Management Expert Panel Chaya Kowal - Cluster Director Of Revenue Management, Potato Head Family Diego Fernández Pérez De Ponga - Director of Revenue Management, Palladium Hotel Group Pablo Torres - Director, TEDUKA & Hospitality Consultant, Torres Hospitality Consulting Mariska van Heemskerk - Owner, Revenue Management Works Fabian Bartnick
Hotel Dynamic Pricing Guide; An Essential Overview of All Price Tags
Revenue management underpins six different main types of hotel room pricing. Called dynamic pricing or “price tags,” this article illustrates these various pricing approaches. As you adopt revenue management for your hotel, you’ll want to understand these concepts to interpret the phases of your property’s pricing path to maximize revenues or minimize damages. Quick menu: Hotel Dynamic Pricing Guide: Overview of All Price Tags What is the Bottom and Starting Price? The Bottom Price Here’s How it Works The Starting Price Other Historical Variables Dynamic Selling Prices and How You Can Incorporate Them Pick-Ups and Lead Time Equilibrium Price and
Hospitality Staffing: How to Hire the Best Hospitality Employees!
Managing your hospitality staffing needs is a crucial part of effective management, but how do you actually go about hiring the best employees? In this article, you can gain some useful advice on how to optimize your recruitment process. Along the way, you will also find a breakdown of the main skills and qualities to look for in new recruits. Table of Contents: What is the Hospitality Industry? Overview of The Most Common Hospitality Positions
How an RMS Sets You Up for Success in Low Season
For seasonal properties, the low season isn’t just downtime—it’s the perfect opportunity to prepare for future success. Implementing a Revenue Management Solution (RMS) during this period allows you to maximize revenue and hit the ground running when guests start booking again. Here’s how. What Is an RMS and Why Does It Matter? A Revenue Management System is your go-to partner for smarter pricing and inventory decisions. It analyzes data, monitors market trends, and optimizes room
Hotel STAR Report: Clear Introduction for Hoteliers
Hotel STAR Report The Hotel STAR Report is a critical performance benchmarking tool in the hospitality industry, providing detailed revenue and occupancy data compared to competitors. It is important because it helps hoteliers make informed pricing, marketing, and operational decisions by understanding their market position and identifying trends. Ultimately, it
5 Essential Tips to Choose the right Property Management System
For those in the hospitality industry trying to run a successful hotel, a robust revenue management strategy is of the utmost importance, and a property management system (PMS) can assist greatly. In this article, you will find the uses of a property management system and read five tips to help
What is Yield Management?
Yield management is a pricing strategy commonly utilized by businesses in hospitality, air travel, and other tourism-related fields to generate maximum revenue from perishable inventory (e.g., hotel rooms or airline seats). Here, we answer the question 'What is yield management?' and explain why it is useful for hospitality hotel owners