Tips for Choosing a Revenue Management System for Your Hotel
Revenue management systems (RMS) are a new way of working for the vast majority of hotels – in fact, for most, this kind of software was not even an option before. But times are changing. Property management systems (PMS) are becoming more user-friendly, and such systems can help you simplify your life, save you time, and result in more revenue. Dynamic pricing automation is now available for even the smallest hotels. This article can help
Strategies to Optimize Your Holiday Park’s Revenue Next Summer
Was your summer a revenue bonanza, or more of a busy bust? The summer busy season is undoubtedly a critical stretch for holiday park owners. For many, it's the time to bolster your budgets and make up for the slower months. While plenty of work must be done to ensure your next summer's guests have an excellent experience, it's also important to consider your approach to revenue management before this flurry of activity begins. Where
Forward-Looking Data to Understand Guest Behavior and Upcoming Trends
Question for Our Revenue Management Expert Panel: What Forward-Looking Data Should Hotels Use to Understand Guest Behavior and Upcoming Trends? Our Revenue Management Expert Panel Nikolas Hall - Principal Owner, N. Hall Consulting Chaya Kowal- Cluster Director Of Revenue Management, Potato Head Family Damiano Zennaro - Founder, DZ Consulting Heiko Rieder - Vice President Business Development, Hirmer Hospitality and Travel Charme Hotels Fabian Bartnick - Founder, Infinito &
AI + Hotel Marketing: 6 Ways AI is Here to Help
Fear not. Robots won’t take our jobs. In the hospitality sphere, robots - or rather artificial intelligence - can propel our productivity, making our work more effective and our time more efficient. Here are six ways hotel marketing teams are using AI today. The Rise Of AI It’s barely been a year since access to generative artificial intelligence (AI) technology became widely available, yet marketing teams have been quick to explore AI, if not fully
How Has Artificial Intelligence Impacted Revenue Management Roles and Systems So Far?
Question for Our Revenue Management Expert Panel: Some roles are shrinking due to Artificial Intelligence. How have revenue management roles and systems been affected to date? (Question by Oleksii Kapichin) Our Revenue Management Expert Panel Niko Krauseneck - Founder, RevenueRebel Tamie Matthews - Sales & Marketing Consultant, RevenYou Nikolas Hall - Owner, N. Hall Consulting Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Heiko Rieder - Senior Vice President Commercial & Distribution, Step Partners Europe GmbHs Diego Fernández Pérez De Ponga - CEO at Port Hotels Damiano Zennaro - Founder, DZ
Mastering the Art of Multi-Property Management
This article explores the nuances of managing multiple hotel properties. It emphasizes the importance of creating a unified guest experience, utilizing advanced technology to enhance operational efficiency, and incorporating local cultures into service delivery. You find three topics that discuss increasing guest loyalty, optimizing revenue, and maintaining competitiveness in the hospitality industry. Introduction to the Dynamics of Managing Multiple Properties In the hospitality realm, managing multiple properties is more than just expanding venue numbers—it's a
Why Revenue Management Systems Will Never Replace Human Revenue Managers
When the desktop computer came along, it needed human input. It’s no different with an RMS (revenue management system.) Even an AI-enabled RMS can’t think independently (and that’s a good thing!) You’ve probably heard plenty about AI (artificial intelligence) chatbots that learn from biased human language and “deep fakes,” which are the 21st c. version of Photoshop. These are just a few real-life concerns in today’s emerging AI. Yet, as hoteliers and a society, we
Types of Hotels: Exploring Classifications and Hotel Types
The types of hotels available to customers range from full-service and chain hotels, through to boutique hotels, lodges and inns. Hotels are generally categorized based on facilities, features and marketing. Hotel options are important because the various market segments will have different needs, preferences and budgets. Hoteliers can also identify
Total Revenue Management: How Hotels Can Maximize Their Revenue
Total revenue management is broadly defined as managing each revenue source to the highest profitability. By incorporating multiple revenue points of sale like food and beverage, banqueting and conferencing facilities, spa, retail, leisure activities, and others with room revenue management, total revenue management assists hotels in achieving their goal of
Restaurant Management Systems: Overview, Key Aspects and Features
Restaurant management systems are a type of restaurant management software intended to assist with the tasks associated with the day-to-day management of a restaurant or similar business. In this article, you can learn about what the technology does, the main features, and the different components that make up a sound