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,
10 Tips in Building a Business Case for an RMS
When you're trying to get your team on board to purchase a revenue management system (RMS), there are a few key things you'll need to keep in mind. Of course, you already know the benefits of utilizing an RMS. Your company will earn more revenue, become more efficient, free up time, and make better-informed decisions. You're already on board. Now it's time to get the rest of your team on board, too. How do you
Hotel Events: The Best 10 International Events to Inspire Hoteliers
Hotel events allow hoteliers to network, learn, and get inspired. It's easy to fall into a routine as a hotelier and become stagnant. Hospitality conferences, expos, and conventions allow you to discuss the challenges and lessons of recent years, picking up valuable information and fresh ideas. Here are 10 of the biggest and best hotel industry events you can experience. Table of Contents: What Is the Hotel Industry? What Is a Hotel Event? 10 Best
By How Much Can Upselling Boost Your Hotel’s Revenue?
The importance of upselling within the hotel industry has increased over recent years. No wonder, because a good upselling strategy can significantly boost hotels revenue. But is upselling beneficial for every type of hotel? Is it worth for your hotel? In this article, you find a comparison of the upsell
8 Corporate Travel Agents for Hotels to Gain More Business Travelers
Corporate travel agents specialize in organizing business trips and events for the employees of companies. By presenting your property correctly to these agents, including delivering real-time availability and rates, hotels can create the possibility to attract more corporate travelers. In this article, you learn what corporate travel agents are, why
Hotel Management Software: What Are the Benefits for Hotels?
Hotel management software is increasingly important for hotel industry professionals, offering more efficient, cost-effective ways to take care of many tasks and operations. In this article, you will learn about the various available hotel management software solutions, as well as the key benefits hotel software can provide. What is Hotel