What Hotel Revenue Management Innovations & Trends Can We Expect in 2022?
Question for Our Revenue Management Expert Panel: What are the top innovations and trends in hotel revenue management that we can expect to see in 2022? Our Revenue Management Expert Panel Nikhil Roy - Revenue & Pricing Manager, Key Hospitality B.V. Paulo Aragao - Revenue Management Professional Sandra Gannon - Commercial Consultant, Revenue Puzzle Daniel Feitosa - University Teacher Revenue Management, Faculdade Roberto Miranda   Chaya Kowal -
Hostel Management Systems: Everything You Need to Know
Hostel management systems are software solutions used within hostels to carry out key managerial tasks and oversee operations. In this article, you can learn about these systems, how they work, why they are so useful, their main features, and how much they cost. Table of Contents: Why Do Hostels Need Hostel Management Systems? What Are the Main Functions of Hostel Management Systems? Reservations & Inventory Management Channel Management Operations Management What Are Some of the
Hotel Booking System: 8 Tips to Maximize its Benefits
A hotel booking system is an important technology for hotels and similar properties, allowing customers to reserve hotel rooms online through a simple, self-service process. In this article, you will find out more about how these systems work and have the chance to explore eight tips that will allow you to maximize the benefits. Table of Contents: What is a Hotel Booking System? 8 Tips to Maximize Your Hotel Booking System Potential 1. Connect The
A Few Thoughts on Your Hotel’s Distribution & Channel Strategy
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 favor of an OTA to the detriment of a hotel’s bottom line needs to be reviewed, and steps should be taken to maximize direct bookings. Hoteliers Should Explore OTA Alternatives For many hoteliers, OTAs are an accepted distribution strategy due to their marketing power and high traffic. However,
Meeting the Moment: Capitalizing on Emerging Hospitality & Travel Trends
The year ahead is sure to be shaped by a host of macro- and micro-trends in hospitality and travel. Hoteliers across the globe are grappling with generational change, rising expectations for personalized experiences, and how to maximize revenues when faced with a mixed bag of market conditions. So what can you do to make the most of these shifts? We’ve highlighted a few ways commercial leaders and hoteliers can tap into these trends. Broadening Revenue Horizons Beyond the Room For many properties, the prospects for room revenue growth in 2025 may be limited. Paired with rising operational costs eating into
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 and others. Defining Yield Management In simple terms, yield management is a strategy based on selling to the right customer at the right time for
What does GOPPAR stand for?
A key performance indicator, or KPI, is a quantifiable business performance measurement. KPIs are essential for implementing a successful revenue management strategy, as it allows businesses to identify areas of success and failure, as well as trends related to demand and customer behavior. GOPPAR is one of the most important KPIs hotels use for revenue management. This article explains what GOPPAR stands for and why it is important. GOPPAR Explained GOPPAR is an acronym for
Hotel Maintenance Tips to Optimize & Increase Profitability
Hotel maintenance staff have a crucial role to play in the success of a property because they are responsible for ensuring technology, equipment, and facilities are in full working order and for fixing problems when they arise. In this hotel maintenance guide, you can access tips to optimize your maintenance
Hotel PMS: Customization and Automation
A hotel PMS is a property management system designed for use within hotels and similar forms of accommodation. Such software offers several benefits, but two of the most significant are customization and automation. In this article, you can learn why these are valuable and how they can be used. Table
7 Tips For an Impeccable Online Reputation for Hotels
Global digitalization, the growth of OTAs, and the influence of social media have made businesses in the travel industry heavily reliant on their online reputation—and hotels are not an exception. This article will teach you seven methods that should become vital to your online reputation management strategy. Why You Should