Revenue Management vs Yield Management
Within the hotel industry, revenue and yield management are two of the most useful tools available to managers, allowing them to maximize the money they make from guests. Although the two concepts are closely linked and share a lot of similarities, there are some important differences too. In this blog post, we explain the differences and compare the two strategies in greater detail. Table of Contents: Defining the Two Strategies Why Are Yield and Revenue Management Important? Table Explaining Revenue Management vs Yield Management Revenue Management KPIs More Relevant Articles Defining Revenue Management vs Yield Management As a pricing strategy,
4 Tips to Appeal to MICE Planners on Your Hotel’s Website
Along with a surge in business travel, in-person events have returned with full strength, bringing a new scope for hotel properties. Therefore, if your hotel has a meeting or event space, you should capitalize on this golden opportunity by optimizing your website. In this article, you'll learn how to capture the MICE (Meeting, Incentives, Conferences, and Exhibitions) market segment of direct bookers. MICE Guests: The Opportunity Most likely, your hotel website is designed under the
Hotel Recruitment; Recruit Your Way to the Top!
The dynamic world of hospitality needs a talented and agile team to remain above the competition. With the current conditions of the recruitment landscape, it is key that you get your employer branding spot on to attract and retain the best team as a solid foundation for your hotel's success. What Should Your Approach Be? Times are changing, and so should your hotel recruitment strategy. Gone are the days when you could post a black-and-white
Hotel Press Release: Tips to Write a Successful News Release
Well-written press releases are a key communication channel in the hotel industry. Whether you want to announce company news, events, or the appointment of a new CEO, a hotel press release provides a unique opportunity to communicate this to the world. But not every press release will have the same
5 Hotel Marketing Challenges for Multi-Location Hotels
Emerging economies lead to a growing demand for international tourism, making the travel industry one of the fastest-growing markets. With the number of people with access to greater wealth rising, the market conditions are expected to remain strong. But with markets expanding, so is the competition. In this article, we
Guest Communication Tips to Improve Hotel Guest Engagement
Guest engagement has never been so important. As we move forward through the next couple of years, travelers will look for peace of mind when planning their trips. Hotels need to clearly communicate to questions, provide tailored offers, and be accessible to guests throughout the guest journey. Guest communication is