Hotels using yield-management practices confirm having gained a sizeable increase in revenue with minimal investment. For this approach to truly work, a yield manager/revenue manager must have a dedicated staff for research and analysis of the required data and a strong tool to provide right insights and actionable.
RATE PARITY PERFORMANCE REPORT AUGUST 2017 – USA
Where does your City Stand?
3 – Star Hotels: All 12 cities surveyed had less than 10% of hotels in Parity
4 – Star Hotels: All 12 cities surveyed had less than 10% of hotels in Parity
5 – Star Hotels: 8 cities had less than 10% of hotels in Parity out of a total of 9 cities surveyed
Promoters are the hotel’s biggest assets, and getting guests to become the promoters should be a key objective of the hotel’s marketing strategy. Having said that, it is extremely important to take the detractors and their opinion seriously. The best way to go ensure that your guests turn into your promoters is not just meeting expectations, but exceeding them.
In spite of the fluid nature of demand where segmentation has lost a lot of its past emphasis, hotels still insist on treating their inventory as a compartmentalised box with little room to play. Learn how to leverage inventory management to boost hotel revenue.
As long as demand for packaged travel remains, there will still be a place for travel companies/OTAs both online and off. Technology will go a long way in fulfilling this demand for consumers at both the ends.