Quantifying the Benefit of Using Revenue Management Software
When potential clients reach out to Revenue Management Software (RMS) companies, they often have the same question: “How much extra revenue will I make?”. To which the only honest answer is “We don’t know, exactly”. You may come across companies promising 30% or 50% more than you are receiving now. But, in reality, it depends on so many factors; for example, location, competitor behaviour, what the current pricing is like, and whether the revenue management
Basics of Revenue Management for Smaller Hotels
Revenue management stands for “Selling the right product to the right client at the right moment at the right price via the right distribution channel with the best cost efficiency”. But what does revenue management really mean for the extraordinary hotelier? What should you take care of in order to increase the revenue for your property? Basics of Revenue Management Several aspects should be taken into account if you would like to improve your revenue
Airline Vacancies: List of Job Boards to Find a Job at an Airline
Job boards rank among the most popular channels used by job seekers hoping to find airline vacancies online. These platforms are utilized by many employers within the airline industry, making it relatively easy to find options. In this article, we explore some industry job boards most relevant for exploring airline jobs. Table of Contents: A Comprehensive View of the Airline Industry 13 Job Boards With the Best Airline Vacancies 3 Further Ways to Find Airline
Revenue Management; clearly explained!
Revenue management is concerned with optimizing financial results and is especially popular in industries like hospitality, which must contend with high fixed costs and a perishable inventory. For example, hotels have a certain number of rooms and fixed costs, which must be met regardless of how many rooms are sold. In such industries, revenue management predicts demand and optimizes inventory and price availability. When utilized correctly, this will ultimately result in higher revenue. Table of
Master Pick-up Analytics: Learn Why & How They Elevate Your Hotel
Pick-up analytics are essential for hotels to forecast demand, optimize pricing strategies, manage inventory, marketing, and improve revenue management. In this article, we will dive into the world of Pick-up Analytics. You will learn what Pick-up Analytics is and how to use it to help your hotel optimize performance. What is Pick-up Analytics? In short, it is important to analyze the rate at which your hotel rooms are booked over a certain period. Pick-up Analytics provide insight into booking trends, guest behavior, and future demand. It shows the number of rooms sold during a specific timeframe ("Pick-up window/period"). It compares
4 New Technologies To Help Increase F&B Revenue
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 numerous events. Effective revenue management is crucial for the hotel industry to thrive in this
Hotel Conferences: Biggest Organizations & Reasons For Hoteliers to Attend
Hotel conferences are a great way to stay up-to-date with the latest trends, develop valuable relationships, and showcase your hotel's offerings. In this article, you will learn about hotel conferences, deepen your understanding of why they are beneficial, and explore some of the biggest organizations hosting these events. Table of Contents: How to Define the Hotel Industry What is a Hotel Conference? 6 Key Reasons Why Hoteliers Should Attend Hotel Conferences Stay Up-to-Date with Trends
List of the 13 Excellent Hotel Brands to Work For
When seeking employment within the hotel industry, finding the right hotel brand for your tastes, needs, and preferences can be important. Of course, for job seekers based in Europe or hoping to move to Europe for work, this means understanding the best European hotel brands to focus on and learning
Restaurant Management: Everything You Need to Know
Restaurant management involves overseeing day-to-day operations within a restaurant. Still, it also has a significant strategic component because managers are ultimately tasked with guiding a business to long-term success. Here, we provide all the information you need on restaurant management, its definition, why it is so important, and the qualities
What are the Top Market Segmentation Trends for Hotels in 2022?
Question for Our Hotel Marketing Expert Panel How do you think market segmentation will change for hotels in 2022? What do you expect the top trends will be? (Question proposed by Luminita Mardale) Our Marketing Expert Panel Adele Gutman - Culture and Guest