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Ignorance means risks: What revenue management means for today’s hotels and the costs of neglecting it

SiteMinder

A quick search on the internet yields a wide range of definitions for ‘revenue management’. Some of these take a theoretical, almost academic approach and, in several instances, there are iterations of revenue management’s classic definition: ‘selling the right room, to the right guest, at the right time, for the right price’.

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Three Essential Steps to Profit-Oriented Revenue Management

Demand Calendar

To stay ahead, hotels must evolve from basic room revenue management to a more comprehensive, profit-oriented approach that encompasses all revenue streams and considers the profitability of each customer segment. This blog will outline three critical steps to achieve profit-oriented revenue management.

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How Collaboration between Marketing and Revenue Management Drives Hotel Growth

Demand Calendar

Hotel revenue managers call these fluctuations seasonal and day-of-the-week demand variations. So if a hotel depends on travel reasons to the destination, which is the role of marketing and revenue management? There is no reason to go to the beach and no demand for overnight accommodation.

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Hotel Revenue Management: What could possibly go wrong?

Demand Calendar

In this blog post, we will address four challenges in revenue management: incomplete data, the influence of cognitive biases on decision-making, the effects of knowledge and skill gaps, and the issues associated with black-box systems.

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Don’t miss out: two weeks to go to HM Awards Aotearoa-Pacific

Hotel Management

New Zealand and the South Pacific hotel industry will be firmly in the spotlight at the upcoming 2024 HM Awards Aotearoa-Pacific on Friday November 1. Taking place at Cordis Auckland, the HM Awards’ first-ever satellite event will unite the hotel industry to celebrate the top hotels, resorts, departments and people across the region.

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Key appointments: BWH Hotels, Capstone Hotel Management

Hotel Management

BWH Hotels names new lead for China BWH Hotels has named Harry Dong as the new President and CEO of BWH Hotels China (Hong Kong, Macau, Taiwan), Mongolia, and Nepal, following in the footsteps of his father, William Dong, who previously held this role. Sadiyya Ismail Vidan Zivic has been appointed North Island Area Manager.

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M&G Hotel Group grows South Australia portfolio under Choice partnership

Hotel Management

South Australian accommodation management business M&G Hotel Group has bolstered its nine-year partnership with Choice Hotels Asia-Pac, with the addition of two new properties, Econo Lodge Port Augusta and Econo Lodge Dockside Glenelg. It is very clear to me that M&G and Choice share the same values.