Walking the Tight Rope; High ADR and Low Distribution Cost

Tips for hoteliers to balance online and direct bookings. “Minimise costs, maximise revenues” — the quest is ubiquitous across all businesses. With no exceptions for the hotel industry. With the costs running high into labor, debt, franchise fees, utilities and real estate taxes, little can hoteliers do little to really ‘minimise’ the cost of operation. But…

5 Things About Hotel Revenue Management Your Boss Wants to Know – Part II

Hope you have gone through and implemented what we had shared in Part I of this blog series. Now you will agree that a revenue manager has to put on several hats in this role. Considering the complexity of their job role, a revenue manager can be rightfully termed as a – forecaster, strategist, system design specialist,…

How to Ensure the Demand Generated is Translated into Increased Revenues?

Global travellers are spending more moolah than ever before, on hotel bookings alone these days. The global hospitality division is all set to observe a record flouting year in 2016. Hotel metrics like occupancy, RevPAR and ADR values are all geared up to break the previous records, as the forecast for the year 2016 is…

Making Cents of RevGain: An Interview With the Revenue Manager at St. George Lycabettus Hotel, Greece

One of the toughest challenges revenue managers face is determining the demand in their areas and the right tools that can help them assess the market scene appropriately. But it doesn’t have to be that way anymore. There are many revenue managers who’ve been able to accurately measure the demand and also boost their ADR and…

How to Choose the Right Rate Optimisation Tool for Your Hotel?

  Perishability and limited inventory are the two most important aspects of hotel business, and thus, pricing of a room becomes one of the most important KPIs for a Revenue Manager (RM). Developing effective pricing strategies remains a complex issue. Increasingly, hotels are turning to specialist revenue managers to maximize revenue and profits. With the…

9 Undeniable Advantages of Hotel Room Forecasting

With the shelf life of a single day for a hotel room, hoteliers aim to maximize its value. And, forecasting is the key driver of the pricing/inventory management decisions. Agree? Any inaccurate forecast(s) can lead to reduced profit margins for your hotel business. If you’re among those hoteliers who have not tried effective hotel room forecasting…

Demand Forecasting: Top 3 Ways Hoteliers Can Leverage this Strategic Management Tool

Human minds are inherently prone to biases. Isn’t it? In hotel revenue management, biases can be your worst nightmares since these can result into imprecise conclusions. And, inaccurate conclusions often equal to missed revenue opportunities. Look, either you have a crystal ball that empowers you to know how much will be the average length of…

How to make 35% more revenue? Tap the power of Scientific Pricing

Scientific pricing arrived on the scene as a diverse collection of pricing models developed by industry experts. This methodology is being employed by a rising number of hotels to supercharge their hotel operations and pricing strategies. This quick adoption of the scientific pricing methodology is being triggered by the huge revenue benefits and process improvements it…

The Evolution of Hotel Pricing Strategy [Infographic]

Good revenue managers are always on their toes, staying abreast with the latest news, best practices and adapting to real-time changes taking place in the industry. Hotel pricing strategies have made strides and replaced traditional pricing practices. The modern pricing strategies enable revenue managers understand the price sensitivity of demand and map it to the demand characteristics of their products,…

Revenue optimisation love story: Grandhotel Zvon achieves 34% growth in revenue with scientific pricing

Grandhotel Zvon is an award-winning, upscale 4-star hotel, situated in the historical centre of Ceske Budejovice. This international hotel brand has spacious, air-conditioned deluxe rooms and junior suites, fitted with high-quality furniture and luxurious fabrics. The team wanted to upgrade its manual database operations that were adversely affecting the quick decision making and add more…