Revenue Management After COVID-19 – “Innovating Through Uncertainty”
Never before has a single event affected the global economy to the extent that the ongoing COVID-19 pandemic has. Revenue managers, owners, and operators have been thrown into disarray within the hotel industry, and all are facing a less predictable future. In this article, you will learn more about revenue management strategies' role in the post-COVID economy and some of the key trends resulting from the pandemic. Revenue Management and Adapting to Changing Times Due to
The Basics of Revenue Management Explained!
Revenue management is concerned with optimizing financial results and is especially popular in industries like hospitality, which must contend with high fixed costs and a perishable inventory. For example, hotels have a certain number of rooms and fixed costs, which must be met regardless of how many rooms are sold. In such industries, revenue management predicts demand and optimizes inventory and price availability. When utilized correctly, this will ultimately result in higher revenue. Table of
Successful Restaurant Revenue Management Strategies in 2026
Getting your restaurant revenue management strategy right can be critical for your business's success. In this article, you'll learn everything you need to know about revenue management: what it is, what it can do for your business, and how to craft and implement the perfect strategy. You'll also discover key tactics and ways to apply them to your restaurant. Table of Contents: What Is the Restaurant Industry? What Is Revenue Management? Why Is Restaurant Revenue
Resort Revenue Revolution: When Technology Meets Paradise
Resort operators should take a moment to reconsider the potential for significant revenue growth. It is worth noting that leading revenue management system (RMS) providers are now directing their attention toward meeting the unique requirements of resorts. Resorts can unlock various possibilities by embracing automated dynamic pricing, flexible inventory optimization, and other innovative tools. Bye Bye Spreadsheets Gone are the days when revenue managers had to devote excessive time to cumbersome spreadsheets. With the advent
Differing Revenue Management Strategies for New Vs Established Hotels
Question for Our Revenue Management Expert Panel: What are the recommended revenue management strategies for new hotels / resorts? How do they differ to those used by established properties? Our Revenue Management Expert Panel Dr. Betsy Stringam-Bender - Professor of Hotels & Resorts, New Mexico State University Ricardo Sereno - Revenue Manager, Altis Hotels Dermot Herlihy - Owner, Dynamic Hospitality Consulting Pablo Torres - Director Of Sales Marketing,
20 Revenue Management Tips for Hotels
Revenue management within the hospitality industry involves predicting consumer demand to optimize sales, allowing businesses to sell at the right price to the right customer at the right time. In a hotel, this may mean turning away business now to do more profitable business tomorrow. When carried out correctly, revenue management can be extremely effective, helping companies significantly boost their profit margins. Here, we provide 12 revenue management tips for hotels. Table of Contents: 1.
5 Revenue Management Tips for Beach, City, Mountain, or Countryside Hotels
As a hotelier, you know your hotel faces unique revenue management challenges. Your location, primary types of travelers, and the season of the year all play into profitable pricing strategies. This article addresses specific ways to improve your revenue and profitability, regardless of location or seasonality. Revenue Management Tips for Beach, City, Mountain, or Countryside Hotels Some of these tips are essential to savvy revenue management practices regardless of location or seasonality. For instance, the
How to Use Your (Guest) Data to Increase Revenue?
The recent years with a turbulent and unpredictable market have made hoteliers used to dramatic change. Guest booking behavior and previously established travel patterns have been replaced by new ones belonging to a hotelier's daily challenges. New travel trends and changing guest behavior are here to stay; they must act
How to Use Food and Beverage F&B Data to Increase Hotel Revenue
Food and beverage (F&B) data is considered a gold mine in the hospitality industry. From the moment your guests make an online reservation, to the time they leave your restaurant, your POS system or an advanced reservation platform generates valuable guest data. In this article, you'll learn how to use
How to Trigger Dopamine to Maximize Your Hotel’s Direct Revenue
If you're a hotelier struggling to improve your website conversion rates, you're not alone. Maximizing hotel revenue through direct bookings is crucial, and a little something known as “dopamine” could be the key. In this article, we'll explore the connection between dopamine and positive online experiences and how personalization can
How to Measure The ROI of Your Revenue Management System?
The revenue management system (RMS) plays a vital role in the modern hotel technology stack, driving greater profitability and efficiency. Still, the demonstrated return on investment (ROI) in a hotel’s revenue management technology investment goes deeper than year-over-year RevPAR uplift measurements. Understand the True Impact of Revenue Technology The additional
Learn How to Maximize Your Premium Hotel Room Revenue
Do you put your Premium Rooms on a pedestal? A more nuanced approach will yield more revenue. Suites are a peculiar thing within the hotel industry. They are, after all, just hotel rooms for rent. But some hoteliers are very attached to what their premium represents–the hotel's very best. In
5 Ways to Invest Surplus Marketing Funds Before Year End
As the fiscal year ends, it’s not uncommon for hotel teams to discover unallocated funds in their marketing budget. Since the golden rule of budgeting is “use it or lose it,” here are five quick, effective ways to make an impact with surplus dollars before the end of the year.