STAAH

APRIL 16, 2024

Hoteliers need to employ smart strategies to optimize revenue and profitability. One of the most powerful tools in their arsenal is a robust Revenue Management Solution (RMS). Forecasting Accuracy: Accurate demand forecasting is crucial for anticipating future demand trends and adjusting pricing strategies accordingly.

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Revenue Management Revenue Management Forecasting 80

Little Hotelier

MARCH 25, 2024

What is hotel forecasting? Hotel forecasting, also known as hotel demand forecasting, is a strategy that sees a hotel analyse historical data and trends to make predictions about future demand. Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy.

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Forecasting Cancellation Average Length of Stay Revenue 52

Hotel Business

SEPTEMBER 15, 2023

Eister There are many myths about revenue management, but there are five we hear most often. Myth #1: Revenue management is only essential when business is booming. Revenue management is a fundamental part of business, especially in such a dynamic industry as hospitality. By Craig V.

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Catala Consulting

JULY 30, 2023

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?

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Revenue Management Revenue Resorts Management 52

Catala Consulting

JANUARY 8, 2024

Introduction Revenue Management Systems (RMS) are the cornerstone of modern hospitality and travel industries. The Beginnings: 1970s and 1980s Origin in Airlines : The concept of Revenue Management originated in the airline industry post-deregulation.

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Revenue Management Revenue Management Forecasting 52

Catala Consulting

JANUARY 18, 2024

In the dynamic world of hospitality, the UK market stands out as a beacon of innovation and adaptation, particularly in the realm of hotel revenue management. This article explores the top trends in hotel revenue management, yield management, and revenue management in the UK, offering insights and strategies for hotel professionals.

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STAAH

OCTOBER 25, 2022

From irregular demand patterns to changing distribution mix and a depleted talent, here’s a roundup of challenges faced by revenue managers from India right now. The STAAH team went out to leading revenue managers from India to understand what are the biggest challenges they are facing. Forecasting and budgeting.

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Hotel Management

MAY 2, 2023

APAC Revenue Management Summit 2023 – “Unstoppable” May 23 and 24 Are you looking to take your revenue management skills to new heights? Look no further than the APAC Revenue Management Summit , the must-attend conference for hospitality and tourism operators.

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Revenue Revenue Management General Manager Forecasting 130

Inn Quest

APRIL 3, 2023

As the hospitality industry evolves after the pandemic, it’s more important than ever for hotels to streamline their day-to-day operations to improve efficiency, enhance the guest experience, and increase revenue. Here are some ways to streamline operational tasks for your hotel.

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Catala Consulting

NOVEMBER 18, 2023

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. Hotels used historical data and simple forecasting methods to set room rates, often focusing on short-term gains. One critical area is cost optimization.

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Revenue Management Revenue Management Hotels 52

SiteMinder

OCTOBER 9, 2022

Whether you are new to the industry or catching up with the fast evolution, this blog will introduce you to the responsibilities of revenue managers and how they can succeed in 2022. What is a revenue manager? A revenue manager is responsible for pricing hotel inventory (rooms) to maximise profit.

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Hotel Management

JUNE 22, 2023

Ramzy Fenianos The outlook for investment in Australasia is forecast to be relatively modest for the year ahead (2.9%), which is likely to result in significant challenges for hotel developers in the region. This trend is likely to stay as independent owners continue to navigate operating in the post-pandemic era.

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Revenue Management Forecasting Revenue Hotels 130

STAAH

APRIL 30, 2024

Tech switching in the hotel industry refers to the process of adopting new technologies or upgrading existing systems to improve operational efficiency, enhance guest experiences, and stay competitive. Mobile technology integration: Hotels are increasingly leveraging mobile technology to enhance guest experiences and streamline operations.

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Revenue Management Hotels Operations Forecasting 86

Xotels

APRIL 3, 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.

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Revenue Management Revenue Management Ancillary Revenue 76

Hotelogix

APRIL 22, 2024

Harnessing hotel data is essential for navigating the modern hospitality landscape, enhancing operational efficiency, and tailoring marketing efforts to meet guest preferences better. Importance of Analysing Hotel Data Hotel data encompasses various information, from guest bookings and preferences to revenue figures and occupancy rates.

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Management Average Daily Rate Revenue Management Hotels 52

Cloudbeds

FEBRUARY 15, 2023

Striking a balance: controlling hotel operating costs while upholding guest satisfaction Keeping hotel operating expenses under control is essential to running a successful property. In the ideal scenario, property expenses would be perfectly aligned with total revenue, leaving a tidy profit for hotel owners.

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Hotel Business

FEBRUARY 26, 2024

Our new brand encapsulates our mission to put data and efficiency at the heart of hotel operations so hoteliers can return to hospitality.” TruePlan: A budgeting and forecasting solution that allows hoteliers to simplify and streamline budgeting processes and forecast with confidence.

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Forecasting Operations Business Revenue Management 59

SiteMinder

OCTOBER 11, 2022

Other than the front of house managers and night managers, a hotel’s management staff go largely unseen by guests. However, this team is tasked with overseeing all aspects of the hotel’s operations. Again, the specific job titles and the amount of personnel within the management team will vary from hotel to hotel.

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Hotel Business

APRIL 19, 2023

Experts across the hospitality industry continue to forecast “cautious optimism,” emphasizing caution as the International Monetary Fund chooses to lower the projections for their annual economic growth forecast to 2.9% Today, this process is supported end-to-end by revenue management technology. from an initial 3.4%.

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Revenue Management Forecasting Consumer Occupancy 52

SiteMinder

APRIL 25, 2024

With every passing year, revenue management is playing a more central role at hotels as they navigate a landscape now locked in a permanent state of change. The exact genesis of yield management (now revenue management) in the hospitality sector is hotly debated,” says Stuart-Hill. “The

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Catala Consulting

JULY 13, 2022

Table of Contents Having an outstanding customer experience and increasing revenue are the goals of every hotel owner. But many hoteliers (both small and large) struggle with high operating costs. The article contains a comprehensive breakdown of hotel operating expenses and how to cut them down.

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STAAH

NOVEMBER 28, 2023

Effectively plan and reach your business goals for 2024 with these smart revenue management and distribution tips. To cope with a highly dynamic market , improve efficiency and meet the evolving needs of guests, there have been some shifts in revenue management and distribution.

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Revenue Revenue Management Cancellation Hotels 87

Little Hotelier

MARCH 10, 2024

It centralises information on bookings, customer interactions, and revenue streams, allowing hoteliers to efficiently track performance and make informed decisions. Manage your hotel sales with the best software in the market Use Little Hotelier’s revenue management features to manage your hotel sales and boost hotel bookings.

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Hotel Operations

FEBRUARY 12, 2023

Imagine working in operations at some of the leading hotel companies in the world, and then having the chance to start all over with a blank canvas in a role leading operations for a new brand. It’s a fundamental principle that you have in every hotel operation. What would you do? Or the division between rooms and F&B.

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Operations Real Estate Hotels Revenue 52

Hotel Business

FEBRUARY 7, 2024

Duetto , provider of revenue management systems, has acquired Micerate, a provider of dynamic pricing and online booking tools tailored for meetings and event spaces. Our customers seek three essential elements from Duetto: enhanced revenue generation, precise forecasting and operational efficiencies—Micerate delivers on all fronts.”

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Events Revenue Management Revenue Sales 59

Hotel Speak

DECEMBER 11, 2023

Effectively plan and reach your business goals for 2024 with these smart revenue management and distribution tips. To cope with a highly dynamic market , improve efficiency and meet the evolving needs of guests, there have been some shifts in revenue management and distribution.

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Revenue Revenue Management Cancellation Hotels 54

SiteMinder

SEPTEMBER 10, 2023

It serves as a financial blueprint, detailing various revenue streams such as room bookings, food and beverage sales, and ancillary services. The budget also accounts for all types of expenses, including operational costs, capital expenditures, and marketing budgets. Each goal should align with your hotel’s long-term strategy.

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Revenue Management Revenue Hotels Average Daily Rate 59

SiteMinder

OCTOBER 16, 2023

It’s an essential part of a successful revenue management strategy and is implemented via the use of data and pricing intelligence tools. Simplifies the forecasting process Forecasting can be an overwhelming and cumbersome process, even for the most experienced hotel operator. What is pricing intelligence?

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Forecasting Revenue Management Revenue Hotels 59

Cloudbeds

MARCH 8, 2024

It ensures all financial aspects of your hotel business are kept up to date and provides valuable reporting and forecasting tools to help hoteliers make smart, data-driven decisions. By being flexible with your pricing, you can maximize your revenue per available room (RevPAR, for short) and occupancy rates.

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Forecasting Revenue Hotels Revenue Management 52

Cloudbeds

MAY 8, 2024

Searching for demand patterns for your property is like traveling to the past and then going to the future to forecast how to set up your hotel for success. Instead of a time machine, you need data on your hotel’s booking performance from your property management system. In an uncertain world, it’s revenue that you can count on.

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Hotel Business

NOVEMBER 15, 2022

Aimbridge Hospitality has added industry veteran Patrick Volz as its COO, global operations. He reports to Mark Tamis, president, global operations, Aimbridge. Tamis will continue to oversee the six divisional presidents announced earlier this year as part of Aimbridge Hospitality’s new operating divisional structure.

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Real Estate ROI Operations Forecasting 59

Hotel Business

MARCH 14, 2024

Furthermore, AI can facilitate predictive analytics to forecast demand patterns accurately, allowing hotels to allocate resources efficiently and optimize inventory management. This proactive approach minimizes the risk of overbooking or underutilization of rooms, ultimately improving revenue management and operational efficiency.

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Hotel Business

MARCH 16, 2023

This has been primarily led by a recognition that how hotel organizations operate has undergone systemic changes due to a multitude of micro and macroeconomic forces. This is especially so for revenue management systems and its impact on the hotelier’s business. How have those rollouts been going?

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Revenue Management ROI Revenue Forecasting 52

Cloudbeds

APRIL 30, 2024

A question that likely keeps you up at night is, ‘How can I boost revenue per available room (RevPAR) and outpace my competitors?’ It’s the bedrock of hotel revenue management , and for good reason. But it’s not solely about revenue. Why is hotel price optimization an essential pillar of revenue management?

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Revenue Management Revenue Occupancy Hotels 52

Hotel Business

JULY 25, 2023

He also leads the teams providing operational financial support for the vacation ownership segment, including sales and marketing, development and inventory and revenue management. In his new role, he will report directly to John Geller, president/CEO.

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Real Estate Intent Forecasting Revenue Management 52

Inn Quest

SEPTEMBER 5, 2023

At a glance: What is Hotel Inventory Management? Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Proper allocation of rooms and resources prevents underutilization and enhances operational efficiency.

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Management Overbooking Revenue Hotels 87

Inn Quest

JANUARY 26, 2023

Several day-to-day operational processes are now automated by hospitality professionals of all levels, including proprietors, operators, top executives, and sales coordinators. Hotel management solutions give hoteliers easy-to-use tools that streamline and automate their operations and improve guest experiences.

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