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Choice Hotels Asia-Pac is introducing mandatory revenuemanagement training for franchisees as part of its brand standards to drive performance and consistency across the network. The post Choice partners with ARMA on revenuemanagement training for franchisees appeared first on Hotel Management.
New Zealand hotelier Chris Dickinson has introduced a new luxury accommodation brand to the market with four Auckland properties slated to launch within the first half of 2025. We go above and beyond to deliver exceptional experiences and service for guests, and provide premium property management for owners to optimise financial returns.”
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’.
As technology continues to evolve, so do the strategies and innovations within revenuemanagement. Let’s delve into some of the key trends shaping the future of revenuemanagement in the hotel industry: 1.
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.
All employees are revenuemanagement ambassadors for their organisations. Everyone contributes to the revenue success of a business in both direct and non-direct ways. Surprisingly, the value of operational excellence on commercial performance is often not talked about enough.
The acquisition, brokered by specialist accommodation property agency ResortBrokers on behalf of owners Peter and Irena Cushen, includes City Edge’s active franchise agreements, the brand, and associated IP. Choice Hotels Asia-Pac’s Chief Executive Officer, Trent Fraser, said the deal will deliver benefits for guests and incoming franchisees.
Marsden Hotel Group, owner and operator for successful 4-5 start properties across New Zealand, has teamed up with STAAH, a leading technology provider for hospitality businesses, to boost the revenue-generating capabilities of the properties in its network.
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?
SAN DIEGO and MINNEAPOLIS—Cloudbeds and IDeaS announced a strategic technology partnership that ties the experience of the two companies together to deliver revenue solutions for accommodations providers worldwide. The collaboration will combine IDeaS’ latest revenuemanagement solution with Cloudbeds’ hospitality management platform.
Revenuemanagement (RM) is supremely necessary for hotels. I kid you not, most of the hotels refrain from opting for any sort of revenuemanagement services. The hotel revenuemanagement myths that are swirling around are the real reasons hotels are so skeptical about it. Who is to blame for it?
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.
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.
In the ever-evolving hospitality industry, staying competitive demands more than just offering great accommodations and service. Hoteliers need to employ smart strategies to optimize revenue and profitability. One of the most powerful tools in their arsenal is a robust RevenueManagement Solution (RMS).
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.
“With a high reputation for quality service and unrivalled hospitality across its F&B spaces my initial goal is to further raise these high standards already synonymous with Hilton Sydney, while exploring avenues for further improvement in what is an increasingly competitive market for accommodation in the CBD.”
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. A topic many hoteliers will be interested in is the OTA and Distribution Outlook.
Dallas, USA – Brittain Resorts & Hotels (BRH), a leading full-service hospitality management company, has adopted SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, as part of its newly-announced business intelligence technology matrix. It can literally cost us millions.
But the one thing that is always constant is the day-to-day operations that define your guest experience. With countless operations starting from housekeeping to revenuemanagement, hoteliering is a hectic task and the essence of perfection is often lost. This is where hotel improvement ideas come in. Let’s jump right in.
Singapore, 12/December/2023: Hotelogix , a globally leading cloud-based hospitality technology provider, said that Sioux Motel in South Dakota, United States, has adopted its Cloud Hotel Property Management System (Hotel PMS) to automate and streamline daily operations, boost guest experience and drive business growth.
In this blog, well explore how hoteliers in India, especially in nearby cities like Varanasi, Gorakhpur, Chitrakoot, Lucknow, and Ayodhya, can prepare to accommodate the surge in travelers and capitalize on this once-in-a-lifetime event. During the 2013 Maha Kumbh, the event generated approximately 12,000 crore ($1.45
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.
Corporate Living Accommodation (CLA) offers tailored living solutions for professionals, government workers, and project staff across two prime Melbourne locations: Abbotsford and Hawthorn. CLA manages over 200 residences, ranging from studios to spacious three-bedroom apartments, under the leadership of Nu Nizam , Head of Operations.
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?
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.
Since the early days revenuemanagement has been applied in hotels, there has been an intriguing ongoing discussion. I have been in hotel revenuemanagement consulting since 2006, and it is a question that keeps coming back. The term for turnover used in a hotel is revenue. How can I make more profit with my hotel?’
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.
What is revenuemanagement consulting? Revenuemanagement consulting is specialised expertise that a business can bring in to gain guidance on managing and optimising revenue. An investment in hotel revenuemanagement services is therefore one that can quickly deliver an attributable return.
South Australian accommodationmanagement business M&G Hotel Group has bolstered its nine-year partnership with Choice Hotels Asia-Pac, with the addition of two new properties, Econo Lodge Port Augusta and Econo Lodge Dockside Glenelg. Our entire team is geared to support our 100% franchise operations,” said Fraser. “We
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 features a swimming pool, cafe, tropical gardens and gym.
Revenuemanagement is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. These frontline employees are instrumental in shaping the guest experience, impacting occupancy rates, and ultimately driving revenue.
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.
This approach is not only about earning more but also about spending wisely, optimizing operations, and innovating services to enhance the overall financial performance of the hotel. As the industry evolved, so did the concept of revenuemanagement. One critical area is cost optimization.
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.
If youre still relying on your regular operations, you could miss out on prime opportunities to attract and delight guests during this high-stakes period. This guide explores actionable strategies, expert insights, and modern tech tools to help you maximize bookings, optimize operations, and deliver unforgettable Songkran experiences.
HotelRunner will showcase its comprehensive suite of services and products under its unified sales, operations, and distribution management platform. With a focus on empowering accommodations, travel agencies, and payment providers, HotelRunner is committed to driving growth and success in the travel industry.
As Fabian Bartnick , Founder of revenuemanagement solutions Infinito and PerfectCheck , points out: Everybody is now looking to monetise events and someone is controlling their supply. So, the entire spectrum of revenuemanagement that is happening [for events] has widened from just ticket sales.
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.
Since the early days revenuemanagement has been applied in hotels, there has been an intriguing ongoing discussion. I have been in hotel revenuemanagement consulting since 2006, and it is a question that keeps coming back. The term for turnover used in a hotel is revenue. How can I make more profit with my hotel?’
The season kicks off with a conversation with hospitality icon Richard Kessler, whose career spans over 50 years in hotel development and management. The first episode is now live on major streaming platforms, alongside all episodes from previous seasons. Episodes are also available via the Cloudbeds website: [link].
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.
Whether you’re an expanding multi-hotel business, or a single-hotel operator focused on elevating your business, having a toolbox of resources is essential. It’s a big toolbox,” says Greg Winston, Group General Manager of M&G Group, explaining why he’s chosen to continue expanding the Group’s collection of hotels with Choice Hotels.
As technology continues to transform the way businesses operate, partnerships like this one between STAAH and Sayaji Hotels demonstrate the power of innovation in enhancing guest experiences and operational efficiency.
The 25-year-old family business, with more than 1,150 rooms across Auckland, Rotorua, Kaikoura, Christchurch and Queenstown, is using SiteMinders platform to reach new guests and streamline its operations, allowing for a more dynamic revenuemanagement strategy across its portfolio.
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