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.
Selecting competitive set wisely is important for any hotelier. Eliminating or including hotels for consideration as you select your primary competitive set as well as develop secondary or dynamic competitive sets.
Hotels are using technology to deliver unique experiences to guests. The power of technology is being significantly harnessed by hospitality industry to enhance guest experience, the role of human touch can never be undermined.
Part 1 of 4 Modern Revenue Managers Bid Adieu to Traditional Revenue Managers The progression of the hospitality industry has transformed the revenue management as a central discipline in the hotel. Hotels of today are striving hard to gain more profitability by implementing the latest revenue management strategies and technologies which involve much more than…
The Hotel Revenue management role is continuously evolving, getting more comprehensive with time, they delve down into various key functions, wearing multiple hats. However, as technology continues to make a deeper impact in our lives, lending a complete makeover to the industry, the question arises whether revenue managers would continue to play the leading role that they do now?
Being an independent hotelier offers invaluable opportunities to stay ahead in the market. Since many guests seek an authentic experience, independent hotels can carve out their niche in that segment as well. Couple it with an automated marketing operation and an effective revenue management strategy, and the benefits will delight you!
The rapid stride at which new hotels are coming up is making many experts in the industry think whether these hotels, are amply prepared for the challenges that might surface in this process and most importantly are they ready with their revenue management strategy before they actually get live into business.
For hoteliers, pricing can be a dizzying task, especially how the cost of the same room at the same time can vary dramatically from one date to the next. Especially for the dates that have some important events scheduled. Events and holidays are a high business period for hotels. However, there is definitely a technique to the seeming craziness.
Are you looking for some great hospitality and travel technology blogs to add to your daily reading? Look no further because you have reached the right place! We have reviewed all our blog posts from the past year and have finally pulled together our final list, based on content quality, post frequency, reader involvement and…
The degree of rate parity observed for hotels in APAC between brand websites and the OTAs clearly depict a stark variation by location, in the November 2016 report. The table below shows a snapshot. Cities Showing Highest Parity Compliance in APAC Cities Showing Highest Parity Violation in APAC Shanghai 3 star 91% Bali &…