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As a leader in revenue management consulting , were always at the forefront of what is happening in the hotel industry and keeping a close eye on how revenue management trends keep evolving. While questions like What are the top trends in revenue management for 2025? Want to read more about the basics of revenue management?
With all the changes impacting hoteliers so quickly—the need for hotels to do more with less, continuing pressures on margins, the rapid rise of AI—it’s time for new paradigm in revenue management, one rooted in scientific rigor, data integration and interdisciplinary collaboration.
If there’s a sudden change, for example, an influx of last-minute bookings hits the system, the platform can enable revenue managers to adjust room rates dynamically to maximize revenue. Why it’s important for hotels? Why it’s important for hotels? This on-demand access helps staff gain practical knowledge faster.
Let’s be honestrunning a hotel while managing its revenue at the same time is a balancing act. From making sure staff, guests, and smooth operations are all attended to, we can understand why revenue management so frequently gets put on the back burners. What Are Revenue Management Tools?
We certainly felt the impact, especially going into March,” says Christopher Ellison, Vice President of Revenue at Brittain Resorts and Hotels, a full-service hospitality management company based in the Southeast region. According to Tourism Economics’ latest forecast, 2025 remains on track to achieve over 1.6 Is it a better view?”
Stay Package Entitlement New Dynamic ) , a technology breakthrough that increases ancillaryrevenue and guest personalization by simplifying how hotels sell and fulfill packages. Lets Guests Reserve Package Entitlements With Zero Staff Involvement Agilysys Inc. announced the launch of Agilysys Book with S.P.E.N.D.
Stay Package Entitlement New Dynamic ) , a technology breakthrough that increases ancillaryrevenue and guest personalization by simplifying how hotels sell and fulfill packages. Lets Guests Reserve Package Entitlements With Zero Staff Involvement Agilysys Inc. announced the launch of Agilysys Book with S.P.E.N.D.
When AV systems are down or underutilized, itâs not just an operational failure â itâs a revenue and reputation risk.â AVaStar is changing that conversation. Pop-up and add-on rentals are captured and tracked, increasing ancillaryrevenue without adding headcount. âOur platform gives them a playbook.
Stay Package Entitlement New Dynamic ) , a technology breakthrough that increases ancillaryrevenue and guest personalization by simplifying how hotels sell and fulfill packages. And Payments simple transparent fixed-rate model reduces the complexity of interchange fees, making forecasting, and budgeting easier and more accurate.
The result is a fully integrated platform that empowers operators to streamline operations, drive revenue, and elevate the guest experience from pre-arrival through the on-property journey. Lets Guests Reserve Package Entitlements With Zero Staff Involvement Agilysys Inc. announced the launch of Agilysys Book with S.P.E.N.D.
While some hotel executives appear unfazed, seeing operational challenges in Airbnbâs model, others warn the hospitality industry risks missing out on loyalty-building and ancillaryrevenue opportunities. Tech gaps hold hotels back Outdated hotel systems limit the ability to cross-sell or upsell non-room offerings.
Stay Package Entitlement New Dynamic ) , a technology breakthrough that increases ancillaryrevenue and guest personalization by simplifying how hotels sell and fulfill packages. And Payments simple transparent fixed-rate model reduces the complexity of interchange fees, making forecasting, and budgeting easier and more accurate.
Duetto releases Revenue & Profit Operating System Duetto has launched The Revenue & Profit Operating System (RP-OS), the first platform designed to bring together all revenue and profit tools in one place. This means hotels are unifying every revenue stream, not only rooms. Agilysys Inc.
In today’s fast-paced hospitality landscape, staying ahead of the curve is paramount for maximizing revenue potential. As technology continues to evolve, so do the strategies and innovations within revenue management.
The annual Duetto Revenue Management Trends & Predictions Survey results are in! There was also continued investment in technology, This year, we take a closer look at how that group business might be revenue optimized, as well as identify the channel management tactics hotels are planning to invest effort in for 2024.
We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.
Hotel forecasting is a critical component of successful hotel management, serving as the foundation for strategic decision-making and operational efficiency. For hotel managers and the industry as a whole, accurate forecasting is not just beneficial—it’s essential for maintaining competitiveness and profitability in a dynamic market.
What is revenue optimization? Revenue optimization in hotels is a comprehensive strategy that accounts for all revenue streams and uses data to enhance the overall revenue performance of the business. Included in this will be key metrics, forecasting models, and trending insights.
The data covers key hotel performance indicators such as occupancy, RevPAR, booking lead time, length of stay, international and domestic travel, direct and OTA bookings, as well as upsell performance to forecast trends shaping the hotel industry in 2023. Hotels are generating better revenue. Domestic tourism is still going strong.
Whether you accept transient or group business to your hotel is more than just a revenue management question. For this scenario, we’re thinking about just a room without considering F&B or any other revenue streams. When I worked as a revenue manager in Vancouver, that was my strategy. How much are you willing to risk?
In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Why is Revenue Management Imperative for Resorts?
XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.
As a leader in revenue management consulting , we’re always at the forefront of what is happening in the hotel industry ─ and keeping a close eye on how revenue management trends keep evolving. While questions like “What are the top trends in revenue management for 2024?”
As a leader in revenue management consulting , we’re always at the forefront of what is happening in the hotel industry ─ and keeping a close eye on how revenue management trends keep evolving. While questions like “What are the top trends in revenue management for 2024?”
Moving from merely managing hotel revenue to maximizing profit is a critical transformation that ensures your property's long-term success. Here's a detailed guide on transforming your hotel's revenue management to focus on profit maximization. Train your staff to identify and capitalize on upselling opportunities.
We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.
SiteMinder’s platform empowers you to execute your hotel business plan seamlessly and drive revenue growth. Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain. Revenue and pricing Now we’re onto the good bit!
As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. Use this data to forecast demand and adjust your prices accordingly. What is Yield Management, Really?
As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. Use this data to forecast demand and adjust your prices accordingly. What is Yield Management, Really?
Some of the focuses are automation and creating new opportunities for increased pricing power, more ancillaryrevenue uptake for hotels and an creating even stronger guest experience. What’s new in RM, what are global revenue managers focused on?
Were going to get down and dirty with the real-world strategies that we have actually seen working as a revenue management consulting company. Use this data to forecast demand and adjust your prices accordingly. This can entice guests to book at a higher rate while also increasing your overall revenue.
Marc Saunders, director of marketing at Splendid Hospitality, also believes there is opportunity to drive revenue by activating hotel spaces with retail partnerships. A recent Knight Frank report supports this idea, revealing that ancillaryrevenues have increased in 2022 with the contribution to total revenue rising by 1.5
Driving Revenue Growth in a Competitive Landscape In the cutthroat world of hospitality, every edge counts. Here’s the scoop: Dynamic pricing strategies : AI-powered systems adjust rates in real-time based on demand, events, and competitor pricing, maximizing revenue per available room (RevPAR).
A need to drive revenue The ongoing pandemic recovery and global macroeconomic uncertainty this year (2023) have put an increased focus on driving revenue growth. But as revenue management technology and other pieces of a hotel’s commercial stack have become more effective, owners have increasingly turned to it for driving results.
I was asked this question recently in a meeting: So what is exactly the difference between Revenue Management and Yield Management? Article Summary Yield Management Revenue Management Whats the Big Deal? This is the classic definition we all learned, the sacred mantra of hoteliers and revenue managers. My “Aha!”
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