article thumbnail

Designing a new era of intelligent revenue management

Hotel Business

Just as the 1980s saw the emergence of yield management in the airline and hospitality sectors, today’s environment demands a similarly radical reinvention—anchored in intelligent, AI-powered revenue science. Rather, it lies in reducing forecast error, increasing responsiveness and aligning incentives across departments.

article thumbnail

Hotel terminology: A complete guide for hotel owners

SiteMinder

Forecasting model A statistical or machine-learning tool that predicts future demand, occupancy, ADR and revenue to guide budgets and staffing. Yield management Tactical adjustments of price and inventory in response to booking pace, remaining supply and time to arrival, aiming to maximise RevPAR.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The 15 Biggest Revenue Management Myths & Misconceptions

Xotels

Heck, even a one-room Airbnb can rake it in with the right revenue management strategy. With dynamic pricing and smarter forecasting , these properties can outperform the big chains, without a marketing army or loyalty program. In fact, I’d argue that small hotels have the most to gain.

article thumbnail

Hotel Budget Plan: Are you Ready for 2026? (Template & Example)

Xotels

The budget generally doesn´t change, this is where the hotel forecast comes into play where you start comparing your budget vs. your forecast. In practical terms, taking an agile approach and adjusting your budget later this budget season can be beneficial for any hotel. Does your Hotel Budget have to be Adjusted throughout the Year?

article thumbnail

How AI Can Help Hotels Leapfrog the Tech Gap

Hospitality Tech

Revenue: Forecast, price, and adjust in real time with less manual input. For over a decade, revenue management systems, such as IDeaS and Duetto, have applied Machine Learning, a form of AI, to analyze booking patterns, competitor pricing, and demand curves to recommend real-time rate adjustments.

article thumbnail

Top 10 Revenue Management Tools: The Ultimate Revenue Toolkit

Xotels

So, let’s provide you with a list of revenue management tools to simplify managing your hotel so much easier: What are Revenue Management Tools? Revenue management tools are software and systems that help hotels optimize pricing, control cost , maximize occupancy, and increase profitability.

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.