RevPAR versus RevPOR
Revenue per available room, or RevPAR, and revenue per occupied room, or RevPOR, are two KPIs used within the hotel industry, especially for revenue management purposes. Although the two metrics have similar names, what they measure is quite different, meaning neither KPI is necessarily more useful than the other. How Do You Calculate RevPAR and RevPOR? The formulas for working out the revenue management metrics RevPAR and RevPOR are as follows: RevPAR = Rooms Revenue
RevPAR versus GOPPAR
Revenue per available room, or RevPAR, and gross operating profit per available room, or GOPPAR, are two of the most vital KPIs available to hotel managers. Both form an important part of any effective revenue management strategy. Both metrics concern themselves with occupancy rates, but they detail very different things, as one is centered around money being brought in, while the other is based on overall profit. How Do You Calculate RevPAR and GOPPAR? The
How Much Revenue Could Your Hotel Make From Upselling?
Upselling is a great way to boost both your guests’ experience and your revenue through paid upgrades and ancillary services. In this article you will learn how you can calculate additional revenue, made by upselling. Additionally you find a handy tool to help you to estimate the potential. Success Factors for Upselling A recently published benchmarking report shows that elements like property type (e.g. resort, downtown hotel, hostel…) and location (e.g. mountains, beach, downtown…) strongly impact
Revenue Manager Job Description: What to Look For?
Before embarking on a career in revenue management, reading a comprehensive revenue manager job description can be useful. After all, it is a position with many different responsibilities connected to it, and it is also important to get a sense of the required skills, qualities, and qualifications. In this article, you will find a description of what revenue management entails and why it is so important for hotels. Table of Contents: What is Revenue Management?
SEO vs CRO: What Gives Hotels a Higher ROI?
How much should you invest in Search Engine Optimization (SEO) or Search Engine Marketing (SEM) for your hotel to increase your sales by 5%? If you have a limited budget, what is the smartest way to use it? Can Conversion Rate Optimization (CRO) be a better solution? In this article you will learn the meaning of SEO and CRO, and what you should focus on. How To Best Spend Your Limited Resources Today, available resources
The Limits of Rules-Based Revenue Management Technology
There are automated revenue management decision-making systems, and then there are revenue management support tools that rely on a rules-based approach to setting and changing prices. While perhaps an efficient method for some proficient users, rules-based technology requires consistent manual intervention and will undoubtedly struggle as market conditions shift and staffing changeover occurs. Keep reading to understand the limitations of a rules-based system and the undeniable benefits of full RMS automation. Greater Automation Equals Greater
Unlocking Insights and Revenue Potential with Room-Type Analytics
In a hotel, understanding the dynamics of room types and leveraging this understanding can significantly impact revenue, profit, and guest satisfaction. Room-type analytics is a vital component of any hospitality Business Intelligence platform and offers hotels a deeper insight into their inventory’s performance. Data-driven decisions based on Room-Type Analytics enhance profitability and guest experience. This article dives into Room-Type Analytics, its benefits, implementation strategies, and how hotels can leverage this tool for success. What is
What are the Pros and Cons of Outsourcing Hotel Revenue Management?
Question for Our Revenue Management Expert Panel:  What are the advantages and disadvantages to outsourcing revenue management? Is there a difference depending on hotel / property type? Our Revenue Management Expert Panel Diego Fernández Pérez De Ponga - Director of Revenue Management, Palladium
10 Pricing Strategies to Increase Your Hotel Revenue
Maximizing revenue is a top priority for hotel operators, and achieving this goal often requires the right pricing strategy at the right time. Making room rate adjustments based on demand, customer segmentation, and other factors can be the key to overall business success. In this article, we offer insight into
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
Pricing Personalization & the Future of Hospitality
Pricing personalization allows hotels to move towards total profit optimization by combining the power of the guest profiles in your CRM with revenue management forecasting to deliver the right price to the right guest at the right time during the guest journey. Guests Have Increased Expectations for Personalization Personalization is
Pricing Your Rooms in 2022 – Getting The Best Results in Times of Uncertainty
Cast your minds back to midnight on new years eve. You probably weren’t thinking about your room pricing. But if you had been, would you have felt confident about how demand will play out this year? How much would you bet on being right? If you are in charge of
Which Matters Most for Winning Guests – Price or Loyalty?
Regardless of who you are, competition in the hospitality industry is increasingly fierce, and winning new customers is a major challenge even for experienced hoteliers. So, what makes the most significant difference in getting guests to stay at your hotel versus the one down the street? Is it price? Is