How Can Revenue Management Collaborate with Sales & Marketing Teams?
Question for Our Revenue Management Expert Panel: For best collaboration, should Revenue Management fall under Sales & Marketing – or vice versa? Should they be separate departments on the same level of the hotel hierarchy? Or one single department? Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head Family Theresa Prins - Founder, Revenue Resolutions Paulo Aragao - Revenue Management Professional Nikhil Roy
3 Ways to Streamline Upselling Across Your Entire Hotel Chain
Once it’s in place, an automated upselling system brings countless advantages, like a more personalised guest experience, increased revenue and a more efficient workflow. Achieving these results at a single property may feel relatively straightforward. But how can you replicate them at all hotels across your chain or brand? 1. Facilitate System Adoption The easier you make it for teams at your brand’s hotels to begin using your new system, the more likely they are
How to Get Started With Google Hotel Ads
Where do you start your online search for products and services like hotels? Good chance it is Google. Google Hotel Ads has been the fastest-growing metasearch engine across all regions since its debut. In this article, you'll learn how to increase your visibility in Google Search, resulting in a growth of hotel bookings. Google Hotel Ads: How it All Started There was a time, not long ago, when the typical booking process involved, chronologically: More
Protecting Your Hotel’s Cash Flow & Improving Asset Valuation
Hotel revenue management plays a central role in protecting, forecasting, and strengthening a hotel's cash flow and overall financial position by enhancing the cash position of the asset. Additional revenue generated by a revenue management system directly flows into the amount of cash available. This higher rate of cash flow—combined with detailed forecasts that enable expense management—has a number of benefits critical to operating through this era of business disruption. Cash Is King From giving
Airbnb Fees and Their Impact on Your Hotel’s Competitive Strategy
Airbnb fees have gone from a novelty to one of the most important discussions within the hospitality industry. Airbnb has proven itself to be a notable competitor to the standard hotel model. The associated fees for using the Airbnb service, for both hosts and guests alike, aren't always so readily apparent. Understanding how Airbnb's revenue system works and how to leverage it properly is a fundamental step in gaining competitive advantages. The better you can work with the system, the more competitive your pricing. In this article, you'll learn about the different forms of Airbnb fees, guests' perception of them,
An Overview of Metrics Every Revenue Manager Should Track
Navigating the complexities of hotel revenue management isn't easy. From demand forecasting and rate negotiations to inventory management and competitor analysis, there are plenty of challenges to keep revenue managers on their toes. But technology is changing the game. Today's revenue managers have powerful tools at their disposal that can help them streamline operations and focus on strategic optimization. The one-dimensional metrics that were used for decades are being replaced by more sophisticated measures that,
New Sending Requirements for Email Marketing for Hotels, and What Happens if They Don’t?
Back in February, two of the biggest players in the inbox space — Gmail and Yahoo introduced stringent rules to safeguard users' inboxes from scammers and spammers. These rules signify a pivotal shift in the ever-evolving landscape of email marketing. To ensure your marketing emails reach their intended recipients, it's crucial to comprehend and adhere to these new requirements. New Sender Requirements for Gmail and Yahoo If you are unfamiliar, check out this blog post,
How Virtual Reality Will Revolutionize Staff Training in Housekeeping
Headlines and feature stories everywhere announced the big news in October 2021: Facebook was rebranding to Meta and would focus heavily on the metaverse. While the metaverse itself wasn’t new, Facebook’s pivot towards this virtual reality (VR) space gave it more clout than ever before. Entrepreneurs saw countless opportunities and
How Successful Hoteliers Handle Pricing Strategies for The Recovery
Analyses showed that hotels with a solid revenue management strategy came out of the Covid-19 crisis better than hotels without. In this article, you’ll learn how successful hoteliers handle pricing strategies during the post-covid era, and how to deal with spillage, spoilage, overbooking, and overselling. Quick menu: Hotels With a
ChatGPT Travel Guide: How the Travel Industry Can Benefit!
ChatGPT is a popular chatbot powered by artificial intelligence (AI) technology. OpenAI created the chatbot and rose to prominence due to its ability to mimic human conversation and provide useful and articulate responses to questions and queries. In this ChatGPT travel guide, you can learn much more about the technology,