This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Close to 1000 industry leaders are set to gather at Sydney’s International Convention Centre this evening to celebrate the brightest stars of the hotel industry at the 22 nd annual HM Awards for Hotel and Accommodation Excellence, sponsored by Sealy Posturepedic. On behalf of the HM Magazine team, thank you again for your support.”
Intellisoftware will also gain a seat on ARMA’s Skills Council to provide input for ARMA’s nationally recognised and accredited VET qualification in revenue and yield management launching this year.
With every passing year, revenuemanagement is playing a more central role at hotels as they navigate a landscape now locked in a permanent state of change. The gap, observed and experienced by many, suggests that the industry has far from realised the full potential that the practice holds for today’s accommodation businesses.
A quick search on the internet yields a wide range of definitions for ‘revenuemanagement’. Some of these take a theoretical, almost academic approach and, in several instances, there are iterations of revenuemanagement’s classic definition: ‘selling the right room, to the right guest, at the right time, for the right price’.
What is hotel revenuemanagement? Hotel revenuemanagement is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. What is the primary purpose of revenuemanagement?
Unlike revenuemanagement systems that have traditionally been accessible to a limited number of hotels, the dual capability within Dynamic Revenue Plus means any hotel can, for the first time, use one, mobile-first system to optimise their revenue based on market demand.
We have written extensively about hotel revenuemanagement strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenuemanagement, we have made a summary of all the top advice from our perspective as a hotel revenuemanagement consulting company.
It’s hard to imagine revenuemanagement before the advent of hotel software and systems. Thanks to these solutions, today’s revenuemanager can produce forecasts, distribute inventory and adjust rates with speed – a stark contrast to the manual and long drawn-out processes that defined the practice in the past.
This mega-event is not just a spiritual confluence but also a catalyst for significant economic activity, providing a golden opportunity for the hospitality industry. During the 2013 Maha Kumbh, the event generated approximately 12,000 crore ($1.45 Here’s how hoteliers can leverage this event effectively: 1.
Taking place at Cordis Auckland, the HM Awards’ first-ever satellite event will unite the hotel industry to celebrate the top hotels, resorts, departments and people across the region. With just two weeks to go until the event, time is limited to snap up discounted Early Bird Tickets (offers ends October 25).
Delegates can expect power sessions on revenuemanagement, the intelligent guest journey,on-property technology andOTAs, as well as a Q&A with Agilysys, Sales Engineer, Asia Pacific, Chris Ormiston, on boosting profitability and guest satisfaction.
Hilton Sydney welcomes new GM Hilton Sydney has appointed Malcolm Zancanaro as the new General Manager of the hotel. Nicole Burg Three appointments to the Business Development team include the appointment of seasoned hospitality professional Mely Liu as Group Business Development Manager.
Competition for hotels grew, and prices started to fluctuate more as revenuemanagement systems made pricing strategies more sophisticated. After that, the deciding factor was the level of accommodation, identified by star rating, while experienceswhat to do once arrived and the overall vibe of the hotelwere an afterthought.
STAAH’s tools helped standardise booking operations, enhance OTA performance and establish a tech-forward approach to revenuemanagement. The STAAH channel manager with its 200+ OTA connections helped improve reach and allows multiple channels to be managed through one single dashboard.
Major public gatherings like the solar eclipse viewing in the US and sporting events like the UEFA Euro in Germany have also drawn significant attention to hotels, as local and international travellers flock to attend these events. Event-driven travel is undeniably booming, with its influence seen in hotel occupancy and room rates.
The move to expand the HM Awards to New Zealand – in association with Hotel Council Aotearoa and Tourism Fiji – follows hot on the heels of the AHICE Aotearoa and AHICE Fiji Islands events that have drawn over 600 and 330 leading hotel industry executives at the most recent events in October 2023 and July 2024 alike.
The leading hotels, resorts, departments and staff at properties across New Zealand and the South Pacific are set to be recognised on a level not seen before as the HM Awards hosts a satellite event in Auckland for the first time.
When it comes to luxury hospitality, every empty room represents a missed opportunity and mastering the art of revenuemanagement is paramount. Metasearch engines have revolutionized the way travelers search, compare, and book accommodations. Data-driven decision-making: Revenuemanagement relies heavily on data analytics.
Berlin, Germany SiteMinder, the worlds leading hotel distribution and revenue platform, has identified the five key factors behind the rising demand for accessible revenuemanagement solutions in the global accommodation industry. Navigating hotel revenuemanagement today is no small feat.
City Oasis Inn has been operating independently in the region for over 40 years as a family partnership and is set to benefit from BWH’s distribution, revenuemanagement, and sales and marketing programs from September 2024. The hotel is in a prime location to cater to leisure guests and business travellers needing a place to stay.”
Suppliers Research Podcast Careers Events All Insights Podcasts eLearning Tech.Ex Suppliers Research Podcast Careers Events All Insights Podcasts eLearning Tech.Ex In Auckland’s vibrant Fort Street precinct, two upcoming 2025 openings will add energy to the accommodation scene.
Few roles in the hotel industry have evolved as quickly as the revenue manager.Powered by technological advances, the rapid sharing of knowledge and online training, the discipline is synonymous with smart pricing decisions and expectations are always high in the highly competitive accommodation market. What is a revenuemanager?
Some of your competitors made five times their usual revenue during the Coldplay concert simply by optimizing their pricing and room availability, while others failed to act and barely made a dent in their earnings. The question is, will you seize this opportunity, or will you watch another revenue surge pass you by?
Berlin, Germany – SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, has today released its industry-leading platform on mobile, to give accommodation providers the power to execute their property’s revenuemanagement strategy and mitigate real-time risks, free from their desk.
XOTELS – RevenueManagement eBook In the first chapter of this eBook, we will go over the definition of what is revenuemanagement in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenuemanagement to more advanced practices and strategies.
Think of it as the “sticker price” for your accommodation, typically displayed on your website or communicated to guests who book directly. They simplify the often complex world of revenuemanagement , giving you a reliable foundation to build upon as you grow your confidence in managing rates.
IDeaS Revenue Solutions , a provider of automated revenuemanagement software and services, has named Michael McCartan area VP for Europe, the Middle East and Africa (EMEA). McCartan added, “I am thrilled to join the undisputed leader in revenuemanagement at a dynamic and promising time during the company’s growth.
The Evolution of Hotel RevenueManagement In its early stages, hotel revenuemanagement was a game of numbers – it was all about filling rooms and adjusting prices based on demand. As the industry evolved, so did the concept of revenuemanagement.
Suppliers Research Podcast Careers Events All Insights Podcasts eLearning Tech.Ex The offer includes one night’s accommodation in a Deluxe Room, daily breakfast for two, complimentary in-room beverages and snacks on the first night, and admission to Tianfu Agricultural Museum for two adults and one child.
As a hotelier, you're likely aware that effectively managingevent spaces, such as conference halls and banquet rooms, can significantly boost your hotel's revenue. Yes, optimized banquet space management contributes around 15% to 20% of total earnings. But have you been able to get it right?
Suppliers Research Podcast Careers Events All Insights Podcasts eLearning Tech.Ex Suppliers Research Podcast Careers Events All Insights Podcasts eLearning Tech.Ex Our growth reflects the global hospitality industry’s ongoing commitment to fostering diversity and creating inclusive experiences for LGBTQ+ travellers.”
Be it luxurious accommodations, exclusive dining, or wellness experiences, Songkran visitors crave it all. ” Offer irresistible packages that blend accommodation with local experiencesthink water fights, Thai New Year rituals, and cultural excursions. During Songkran, travelers dont just stay longer; they spend more.
What is a hospitality event? A hospitality event is a gathering where business owners, exhibitors, and consultants can come together to network, learn, and build relationships. For hoteliers, hospitality events will usually be about finding new strategies, products, or partners to grow the success of their business.
We have written extensively about hotel revenuemanagement strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenuemanagement, we have made a summary of all the top advice from our perspective as a hotel revenuemanagement consulting company.
The hotel overbooking strategy is a revenuemanagement technique that hotels use to maximise occupancy and revenue. Some key sources to look into are your channel manager , booking engine , property management system and website analytics. 6) Train your staff to manage overbookings.
Booking management systems will often include a number of features such as a direct booking engine, channel manager, front desk system, payments solution, and guest engagement functionality. In this article, well tell you everything you need to know about booking management systems and how they work for your hotel.
A hotel meeting room is a dedicated space within a hotel, specifically designed to host various events, from corporate meetings and workshops to private gatherings and seminars. Hotel meetings and events are a great way to boost revenue at your property and attract a constant stream of professionals and business travellers.
Suppliers Research Podcast Careers Events All Insights Podcasts eLearning Tech.Ex The platform should accommodate additional properties, larger data volumes, and evolving needs, ensuring it remains a valuable asset as your operations become more complex. Also, evaluate whether the pricing model aligns with your growth.
High-value guests and corporations will engage companies connected to the GDS to book not only accommodation but sometimes entire travel packages. The ability to host more meetings and events: This will drive up your total revenue, improving your cash flow and potentially boosting your profit if you can minimise your expenses.
Originally published in Hotel Online Before we dive in, be sure to visit our ultimate guide to grow events and group business for an all-encompassing rundown of events, sales and catering tips, data points and best practices. Additionally, the average number of attendees and event space used surpassed pre-pandemic levels.
About HotelRunner HotelRunner is a data-driven SaaS-enabled unified sales, operations, and distribution management platform and B2B network for accommodations, travel agencies, and payment providers. HotelRunner has thousands of accommodation and travel agency partners globally.
Revenuemanagement will leave the confines of hotel walls: The discipline of revenuemanagement is poised to expand beyond its traditional home within hotels. IDeaS foresees this changing fast as hoteliers look to maximize the value and power of their data in 2024.
Suppliers Research Podcast Careers Events All Insights Podcasts eLearning Tech.Ex Template 1: Pride-themed brunch or rooftop event Subject Line: “You’re Invited: Pride Brunch on the Rooftop! It’s also an easy event to promote across social channels. Works well for hotels with strong F&B offerings and event space.
The following generic accommodation invoice template could be used by any type of accommodation business. Managing complex room invoicing scenarios Choose an invoicing tool that can handle situations like group stays, extended stays, cancellations, split payments and bundled services like packages or events.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content