Remove Forecasting Remove Management Remove Yield Management
article thumbnail

Designing a new era of intelligent revenue management

Hotel Business

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. Amid the challenges, innovation remains a central theme.

article thumbnail

The 15 Biggest Revenue Management Myths & Misconceptions

Xotels

Think revenue management is just for the big hotel chains or that it’s all about jacking up prices? Believe me when I say, as the COO of a revenue management consulting firm, that at least one of the below misconceptions is draining your hotel’s profits faster than a leaky faucet.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Top 10 Revenue Management Tools: The Ultimate Revenue Toolkit

Xotels

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? Thats where outsourcing comes in.

article thumbnail

What is Yield Management: Guide for Hotels

SiteMinder

What is Yield Management? Yield management is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. A similar principle can apply to distribution.

article thumbnail

Benefits of Yield Management in the Hotel Industry

Inn Quest

Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yield management in hotels, particularly in hotel revenue management. Furthermore, we will provide examples of successful yield management strategies and offer tips on how to implement them in your hotel.

article thumbnail

Is My Hotel Room Pricing Logical?

STAAH

Forecast Accurately: Use forecasting to inform pricing, yield management , and channel management decisions. Enhance Distribution Utilize a channel manager with robust connectivity to broaden your market reach and increase demand, ultimately boosting RevPAR (Revenue Per Available Room).

Occupancy 114
article thumbnail

Hotel Revenue Management Strategies

Xotels

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.