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Designing a new era of intelligent revenue management

Hotel Business

From yield management to revenue science and the union of commercial functions In 1989, the founding of IDeaS Revenue Solutions marked a pivotal moment in the evolution of revenue management. To navigate this, revenue systems must integrate probabilistic forecasting, optimization models and prescriptive analytics.

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Hotel Director: Key roles & responsibilities

SiteMinder

In most cases, the general manager or hotel director holds the top operational role, overseeing all departments and ensuring the hotel meets its financial and service goals. However, in medium to large hotelsor those part of a chainthe owner often delegates operational control to a hotel director or general manager.

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How to start a hotel business plan

SiteMinder

Here’s what to include in your executive summary: Hotel concept: Briefly describe your hotel’s unique features, target market, and overall vision. Marketing strategy: Highlight your key marketing initiatives, such as online advertising, social media engagement, or partnerships with travel agencies.

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What is Yield Management: Guide for Hotels

SiteMinder

Over time, these roles matured and transformed, giving birth to the modern-day revenue or reservations managers. In the context of smaller establishments, such as boutique hotels or bed and breakfasts, it’s often the general manager who dons the hat of a revenue manager, juggling multiple responsibilities.

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Why group revenue is about risk management

Hotel Speak

Whether you accept transient or group business to your hotel is more than just a revenue management question. It’s also a risk management question. And what is the philosophy of the hotel, the ownership, the general manager, and other stakeholders? It depends on the market. How much are you willing to risk?