How do Reputation Scores and Revenue Management Influence each other?
Question for Our Revenue Management Expert Panel: What are the links between hotel reputation scores and revenue management? How do they influence each other? (Question proposed by Pablo Torres)Â Our Revenue Management Expert Panel Pablo Torres - Director Of Sales Marketing, Alannia Resorts Chaya Kowal - Director of Revenue Management, Potato Head Family Dermot Herlihy - Owner, Dynamic Hospitality Consulting Ricardo Sereno - Revenue Manager, Altis Hotels
The Power of Lean Revenue Management; Sophisticated But Not Complex
The global pandemic has sped up a trend in revenue operations (RevOps) throughout the business world. Forrester recently published a study that found that many companies are moving towards more centralized RevOps. They’ve understood that revenue is more than an outcome and instead of a result of a business process where commercial teams come together to achieve their goals. Comprehensive RM Standards are Essential for Both Short & Long-Term Success The Forrester study clarifies that
Late Check-Out Hotel Strategies: A Comprehensive Guide for Hoteliers
Late check-out hotel strategies are based on allowing guests to extend their stay beyond the standard check-out time. Hotels will often charge guests extra for the option of checking out late. These strategies are important for the guest experience because they add an extra level of convenience. In addition, late check-out can be important for hotels because it provides an extra revenue stream and can boost positive feedback. In this article, you can read all
Late Check-In Hotel Guide: Key Strategies for Hoteliers
A late check-in hotel offers short-term accommodation, with the option for guests to arrive later than the standard check-in time. These hotels need to develop robust policies and strategies around the check-in process. Late check-ins are important because guests want flexibility. The option to check in at a time that suits them can make a positive first impression, while late check-ins can also serve as an extra revenue stream for hotels. In this article, you
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 Hotel Group Dermot Hrlihy - Owner, Dynamic Hospitality Consulting Ricardo Sereno - Revenue Manager, Altis Hotels Dr. Betsy Stringam-Bender - Professor of Hotels & Resorts,
14 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 ten pricing strategies that hotels can adopt in their revenue management strategy to increase the amount of revenue they generate. Table of Contents: What Is
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 Solid RM Strategy Came Out of the Covid-19 Crisis Well OTA Visibility Favors Those Already Visible A Deep Dive into Spillage, Spoilage, Overbooking, Oversell, Denials
Forward-Looking Demand Data: The Secret to Optimising Revenue in Challenging Times
Name an area of life or work that the pandemic didn’t impact. It’s not easy to find one, is it? Especially in the hospitality industry, it feels like hardly anything is as it was before COVID. However, there’s one thing that has dramatically gained importance. It’s your ability as a
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
9 Forecasting Tips to Improve Your Revenue Management Strategy
Forecasting is an important part of any revenue management strategy because it allows hotel managers to make vital pricing, promotion, and distribution decisions based on anticipated demand and performance. In this article, we look at useful forecasting tips to help you improve your revenue management strategy. Table of Contents: What
Are Flexible Revenue Management Conditions Due to COVID Here to Stay?
Question for Our Revenue Management Expert Panel: Are the recent booking condition changes (e.g. increased flexibility around cancellation policies, check-in and check-out) a temporary solution or a more permanent change for the hospitality industry? Our Revenue Management Expert Panel Christoph Hütter - Revenue
Facing Automation Fears: A Perspective for Hoteliers
For some, advancements in automation bring a profound sense of dread. Worrying about the big-picture societal challenges that may come with the widespread adoption of new, advanced generative AI tools is understandable. But instead of fretting about whatever dystopian worst-case scenario automation may bring, it's time to take a step
Steps for Success: Evaluating and Pricing Group Business
Group business is an undeniably important piece of the revenue puzzle for hotels. However, not all group revenue is equally valuable or desirable. To achieve an ideal mix of group and transient business, hotels must undergo a detailed evaluation process—one that can be greatly aided with an advanced revenue management