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Ravi Mehrotra The hospitality industry is undergoing profound transformation driven by rapid technological advancement, volatile market dynamics and heightened customer expectations. A major limitation in legacy hotel revenue management practices has been the isolation of revenue teams from their marketing and sales counterparts.
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.
Established in 2016, RevenYou is a specialist consultancy firm supporting accommodation businesses across Australia, New Zealand, and the Pacific with revenue management, sales, marketing, and systems integration. Let’s look at five examples. This enabled direct bookings to be taken online at any time of day.
And when managed properly, it can drive direct bookings, reduce reliance on high-commission channels, and increase your overall profitability. Think of it as one piece of a broader digital strategy; one that works best when integrated with your booking engine, pricing tools, and property management system.
Not because of the market. So, Im calling the mistakes out Here are 5 brutal revenue management mistakes I see hotels make all the time as a CEO of a revenue management consulting firm. The Xotels team is more than anyone else is focussed on speed to market. Haphazard pricing is also a common downfall for managers.
To delve deeper into this issue, we spoke with Tony Marshall, VP Managing Director APAC at Agilysys. For instance, spa staff can coordinate treatments with restaurant bookings, front desk agents can suggest targeted, personalised, upgrades, and restaurant managers can recommend specific wines based on past preferences.
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.
Hospitality.today⢠Topics Subscribe Topics ⺠Travel ⺠Market Data America hits the brakes on travel Lagging bookings, shrinking budgets, and last-minute plans reveal growing consumer caution â and potential trouble ahead for the U.S. economy Jun 25, 2025 American travelers are pulling back.
What is YieldManagement? Yieldmanagement 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.
Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yieldmanagement in hotels, particularly in hotel revenue management. Furthermore, we will provide examples of successful yieldmanagement strategies and offer tips on how to implement them in your hotel.
ARMA and Allara Learning Launch New Revenue and YieldManagement Fundamentals Course. The Australian Revenue Management Association (ARMA), in collaboration with Allara Learning, is thrilled to announce the launch of a brand new, nationally accredited course in Revenue and YieldManagement Fundamentals.
Intellisoftware will also gain a seat on ARMA’s Skills Council to provide input for ARMA’s nationally recognised and accredited VET qualification in revenue and yieldmanagement launching this year. Melissa Kalan ARMA CEO, sharing her insights on the partnership stated, “This collaboration marks a significant milestone for us.
How do you make marketing for hospitality and tourism successful? Hospitality and tourism marketing is the strategic process of creating demand and building a strong brand for products and services within the travel industry. There’s lots more information you need to know ahead of launching your marketing campaign.
Sydney, Australia – Prominent New Zealand hospitality management company, Capstone Hotel Management (Capstone), is today celebrating 10 years of growth with SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels.
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, yieldmanagement, and revenue management in the UK, offering insights and strategies for hotel professionals.
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. Particularly in recent years, when hotels have at times been forced to confront a reality without cash flow, revenue management has been thrust to the forefront of every hotelier’s mind.
Consideration: Evaluate market demand, competition pricing, and historical booking trends. Increasing retail pricing may capture more revenue from other segments without affecting corporate bookings, provided the price increase aligns with market conditions. Length of Stay (LOS): Calculate the average LOS by market segment.
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.
By combining modern technology with an analytical mindset, you can refine your operations, target high-performing markets, and realign your offering with consumer demands to achieve sustained revenue growth.
XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.
Although the target market has since changed, what remains constant is the hotel’s standards and work ethic. Recognising the need for technology, the team turned to SiteMinder’s channel manager as the solution to expand sales channels effortlessly. The hotel also has the flexibility to configure settings as desired.
For growing hospitality businesses, a channel manager is a fundamental part of successful revenue management and distribution strategy. In this guide for hospitality professionals, you’ll learn all about Channel Managers, from how they work to what makes great software for your business specifically. What is a channel manager?
We’re going to get down and dirty with the real-world strategies that we have actually seen working as a r evenue management consulting company. What is YieldManagement, Really? In a nutshell, yieldmanagement means adjusting your room rates in real-time based on demand , seasonality, events, and even the day of the week.
In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. Resort revenue management has become an indispensable tool for businesses, fostering strategies that maximize yield and build strong customer relationships.
We’re going to get down and dirty with the real-world strategies that we have actually seen working as a r evenue management consulting company. What is YieldManagement, Really? In a nutshell, yieldmanagement means adjusting your room rates in real-time based on demand , seasonality, events, and even the day of the week.
Few roles in the hotel industry have evolved as quickly as the revenue manager.Powered by technological advances, the rapid sharing of knowledge and online training, the discipline is synonymous with smart pricing decisions and expectations are always high in the highly competitive accommodation market. What is a revenue manager?
Were going to get down and dirty with the real-world strategies that we have actually seen working as a revenue management consulting company. What is YieldManagement, Really? In a nutshell, yieldmanagement means adjusting your room rates in real-time based on demand , seasonality, events, and even the day of the week.
For hotel owners and operators, particularly those managing a growing portfolio, the construction process also includes mapping out how the new property will meet market demand, deliver a memorable guest experience, and fit into broader business objectives. And when things go wrong, the fallout can be expensive and time-consuming.
Whether you manage a boutique inn or a luxury resort, these innovations will redefine hospitality. 12 Essential Tech Tools for Forward-Thinking Hotels Property Management Systems (PMS) Cloud-based solutions to streamline operations Accessibility : Control your property from any location, at any time. Let’s dive in!
The all-too-common assumption among many hoteliers is that limited-service hotels don’t benefit from revenue management technology and practices when compared to full-service and resort hotels. But why have they waited so long to adopt technology already in the market?
Foremost among these challenges was the absence of an integrated booking system and hotel management system. Solution In the midst of these challenges, Sidus Galaxy Resort & Spa recognized the need for a comprehensive Property Management System (PMS) solution that could address its operational challenges.
“In the cost environment that we’re in today, flexibility promotes availability, and availability improves time to market,” said Ryan Rivett, cofounder/CEO, My Place Hotels. Across revenue management, sales, marketing and loyalty, there’s a lot of excitement about this new opportunity,” he said.
As a leader in revenue management consulting , we’re always at the forefront of what is happening in the hotel industry ─ and keeping a close eye on how revenue management trends keep evolving. While questions like “What are the top trends in revenue management for 2024?”
As a leader in revenue management consulting , we’re always at the forefront of what is happening in the hotel industry ─ and keeping a close eye on how revenue management trends keep evolving. While questions like “What are the top trends in revenue management for 2024?”
HotelRunner, the leading hospitality and travel technologies platform, has launched HotelRunner Elite, an exclusive service designed to add exponential value to independent and chain hotels, helping them overcome the challenges of strategic positioning and yieldmanagement.
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.
Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. It allows hotels to compare their performance against the market or a competitive set.
The owner and manager of this boutique hotel in Saratoga Springs, New York, responded to this challenge with an innovative compensation approach: dynamic pay. Inspired by yieldmanagement principles, this strategy has proven to be a game-changer for staffing issues.
Sales and marketing hotel training: How can your staff help to bring more business in, beyond providing an excellent customer experience? Sales and marketing hotel training has the answers. We were able to increase RevPAR by more than 30% by executing yieldmanagement on the platform swiftly and accurately.”
Whether online or offline, behind every effortless booking experience is a fast, reliable, and fully integrated hospitality management system. A hotel reservation system is software used in the hotel industry to manage room inventory, rates, and bookings. How do hotel reservation systems work? Increase efficiency.
The Trip.com Extranet is an online platform that allows hotel owners and operators to manage their property listings on Trip.com. It provides tools for updating room availability , adjusting rates, adding property details, and managing bookings. What is the Trip.com Extranet?
Striking the right equilibrium requires a keen understanding of market dynamics, customer behavior, and strategic pricing. Dynamic pricing, or yieldmanagement, involves adjusting room rates in real-time based on supply and demand, with the ultimate goal being to increase the Revenue Per Available Room ( RevPAR ).
Table of Contents Introduction The hotel industry is a highly competitive market, and it’s vital for hotels to keep their variable costs low in order to remain profitable. In this article, we will discuss what variable costs are, how they are calculated, and how they can be managed to increase profitability.
This includes fixed costs like rent or mortgage, salaries, and utilities, as well as variable costs like supplies, maintenance, and marketing. Let’s delve into some of the pivotal considerations: Market trends Understanding market trends is crucial for setting prices that are both competitive and profitable.
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