“Real” revenue management can double or triple high season rates
eHotelier
NOVEMBER 2, 2023
Revenue management may be one of the most misunderstood elements of hotel revenue. Real revenue management is a systematic approach to profitability.
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Revenue Management: It's Not Just for Revenue Managers Anymore - By Lynn Zwibak
Hotel News Resource
SEPTEMBER 18, 2023
How often have you seen this at your hotel: Sales managers referring to the revenue management team as ‘the sales prevention department’ because they keep turning away their leads? Front office complaining about how revenue management keeps selling low opaque rates?
The Role of Hotel Reception Staff on Revenue Management
Refine
OCTOBER 22, 2023
we were disappointed by the lack The post The Role of Hotel Reception Staff on Revenue Management appeared first on Revfine.com. The Importance of a Positive Hotel Reputation Recently, while browsing some online property reviews, one stood out. ".
Elevating Group Sales in the Revenue Management Mix
Hospitality Tech
SEPTEMBER 27, 2023
Without incorporating group data into sales and revenue management strategies, we can never completely accomplish total revenue management.
Thinking Through Revenue Management to Achieve Value
Hospitality Net
OCTOBER 16, 2023
Revenue management has a bad reputation in some ways because it focuses on room rates. A new hotel to some is just another place some travelers cannot afford to stay.
Playing the Same Game: How Revenue Managers and Sales Are Joining Forces
Lodging
NOVEMBER 29, 2023
Sales and revenue management are two departments that seemingly should be a match made in heaven but often find themselves at odds with differing goals for success.
Market segmentation essential for total revenue management
eHotelier
FEBRUARY 22, 2023
Here are recommendations to help hotels effectively implement total revenue management using market segmentation strategies to improve their overall performance and maximize their revenue and profitability.
Why Your Definition of Revenue Management Needs an Overhaul
Demand Calendar
OCTOBER 31, 2023
Before redefining revenue management, I would like to acknowledge the expertise and dedication of revenue managers worldwide. This exploration is not a critique but an invitation to a conversation about aligning our strategies with changing customer needs and behaviors.
How Hoteliers Are Using AI for Revenue Management - By Dr. Cindy Heo
Hotel News Resource
OCTOBER 4, 2023
It's a complex and ever-evolving field for a revenue manager to navigate, with many channels and tools to keep up-to-date with. Today, Artificial Intelligence is making the job of data analysis much easier in a variety of ways, this article will go into detail about how Revenue Managers can use AI to get ahead of the competition.
EHL Graduate School Announces Half-Day Course on Revenue Management Strategy
Hospitality Net
OCTOBER 9, 2023
EHL Graduate School in Lausanne is excited to announce an exclusive course titled "Achieving Profitable Growth in Hospitality with Revenue Management Strategy" scheduled for Monday, November 13, 2023.
Brittain Resorts & Hotels Deepens Investment in Revenue Management Technology with SiteMinder
Hospitality Net
OCTOBER 26, 2023
Brittain Resorts & Hotels (BRH), a leading full-service hospitality management company, has adopted SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, as part of its newly-announced business intelligence technology matrix.
The Importance of Pickup and Pace in Hotel Revenue Management
Hotel News Resource
AUGUST 18, 2023
Article - The Importance of Pickup and Pace in Hotel Revenue Management - Discover the significance of pickup and pace in hotel revenue management. Learn how optimizing these factors can boost your hotel's revenue.
Next Up for Revenue Managers: Tackling Ancillary Outlets
Hospitality Net
JUNE 1, 2023
As a large majority of hotels have adopted some sort of dynamic pricing for their rooms, the next evolution of revenue management is moving beyond rooms, and many leaders have adopted total revenue management strategies for a more holistic approach.
Special Report Highlights Hotel Investor Attitudes, Opportunities for Revenue Management Technology
Hospitality Net
SEPTEMBER 6, 2023
IDeaS, a SAS, company, the world’s leading provider of hotel revenue management software and services, released a special report in line with industry budget season.
Five myths about revenue management debunked
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.
Driving Profitability with Precision: AI's Pivotal Role in Revenue Management - By Andrew Rubinacci
Hotel News Resource
NOVEMBER 30, 2023
Revenue management systems play a critical role in the hospitality industry. Traditionally, these systems attempt to predict future demand from past trends to optimize pricing. That's a reasonable approach. Now, what if I told you it was possible to predict future demand based on current trends?
How hoteliers are using AI for Revenue Management
Hospitality Net
OCTOBER 2, 2023
Hotel revenue management is the process of optimizing revenue by predicting demand and setting prices accordingly, most commonly found in hotels to forecast occupancy in order to maximize their room rate, hotel marketing strategy, and overall property performance.
Resolute Road adds Andrea Pace-Mickley as Senior Corporate Revenue Manager
eHotelier
NOVEMBER 14, 2023
Resolute Road Hospitality, announced today the addition of Andrea Pace-Mickley as Senior Corporate Revenue Manager. In her new role, Pace-Mickley will lead the company's revenue and commercial strategy, overseeing all revenue management, pricing, analytics, forecasting, and channel distribution initiatives.
RMS Cloud and Atomize Join Forces to Revolutionise Hotel Revenue Management
Hospitality Net
AUGUST 17, 2023
RMS Cloud, a leading provider of cloud-based property management systems, and Atomize, an innovative revenue management platform, are thrilled to announce their strategic integration, ushering in a new era of hotel revenue management.
Charting the course to profit: the benefits of integrating a revenue management system
eHotelier
SEPTEMBER 4, 2023
While there are initial costs associated with implementing a revenue management system, it’s important to recognize the significant potential for increased revenue, cost savings, and competitive advantages that such a system brings.
Driving Profitability with Precision: AI’s Pivotal Role in Revenue Management
Hospitality Net
NOVEMBER 30, 2023
Revenue management systems play a critical role in the hospitality industry. Traditionally, these systems attempt to predict future demand from past trends to optimize pricing. That’s a reasonable approach. But as the pandemic taught us, relying on the past to predict the future doesn’t always work - the unexpected still occurs.
IDeaS report reveals investors high on revenue management tech
Hotel Business
SEPTEMBER 12, 2023
IDeaS , a SAS company, has released the report “ Unlocking Hotel Performance: The Power of Revenue Management Technology Today ,” which includes key insights into how investors view revenue technologies, the role of artificial intelligence in hospitality and how technology is reshaping hospitality commercial organizations.
From Hotel Revenue Management to Hotel Profitability Management
Catala Consulting
NOVEMBER 18, 2023
The Evolution of Hotel Revenue Management In its early stages, hotel revenue management was a game of numbers – it was all about filling rooms and adjusting prices based on demand. As the industry evolved, so did the concept of revenue management. Revenue management software is a prime example.
The revenue management guide to room rate profitability
eHotelier
JANUARY 27, 2023
Revenue management isn’t siloed, it needs to look at data across departments and understands the context for those numbers.
IDeaS Powers Park Plaza Hotels Europe’s Revenue Management
Hospitality Net
MAY 31, 2023
IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, has been selected as the preferred RMS provider to Park Plaza Hotels Europe (PPHE Hotel Group) in Europe.
Is Your Hotel Revenue Management Strategy Working?
Webrezpro
MAY 18, 2023
Hotel revenue management is a complicated process with a simple goal: to maximize revenue. It’s about analyzing demand and honing what you offer to sell the right product to the right customer at the right time, on the right channel, for the right price to grow profit.
The link between revenue management and the guest experience
Revinate
JULY 7, 2023
The Hotel Moment podcast — episode 62 In this week’s episode of the Hotel Moment podcast, Karen Stephens, Revinate CRO, and Heidi Cosio, Senior Vice President of Revenue Effectiveness at Aimbridge Hospitality, explore how hoteliers can analyze trends in their revenue performance to craft an effective selling strategy.
Mastering The Art of Resort Revenue Management
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?
Summerstar Tourist Parks Automate Revenue Management Processes Across Fourteen Properties in Australia with IDeaS
Hospitality Net
SEPTEMBER 12, 2023
IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today that Summerstar Tourist Parks has adopted the IDeaS’ G3 Revenue Management System (RMS) across fourteen of its Australian-based caravan and holiday park sites.
The significance of considering competitive hotel rates in revenue management: An economic perspective
Hospitality Net
AUGUST 24, 2023
In the ever-evolving hospitality industry, revenue management plays a crucial role in maximizing profitability and ensuring sustainable growth for hotels.
Revenue management can sell a 3-star hotel room for 1000 euros a night: here’s how
eHotelier
AUGUST 2, 2023
Revenue management can sell a 3-star hotel room for 1000 euros a night: here’s how - Insights There’s no limit to the rack rate if the demand is there. Revenue managers use data to predict market rates, not feelings.
5 Challenges cluster revenue managers face and how to overcome them
Hospitality Net
AUGUST 21, 2023
You’ve probably noticed it, too – the increased trend towards clustering revenue management positions. Done right, it can help you manage costs, increase efficiency and boost revenue. But it comes with its own set of challenges which are mainly related to time constraints and access to high-quality, accurate data.
Brittain Resorts & Hotels deepens investment in revenue management technology with SiteMinder
SiteMinder
OCTOBER 26, 2023
Dallas, USA – Brittain Resorts & Hotels (BRH), a leading full-service hospitality management company, has adopted SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, as part of its newly-announced business intelligence technology matrix. It can literally cost us millions.
In their own words: Understanding different hotel stakeholders’ revenue management needs
eHotelier
NOVEMBER 29, 2022
Each level of a hotel’s ownership and management has different needs from an RMS, it is important to understand their revenue management ‘wants’ and hear from them in their own words.
Revenue Management: The ‘Art’ Behind the Science
TravelNet
JUNE 22, 2023
All reasons why employing a dynamic revenue management strategy is critical to maximizing revenue and retaining owners during this extremely competitive environment. Can you maintain an effective revenue management strategy without software? This is the science behind revenue management.
Demystifying Hotel Revenue Management: A Comprehensive Guide for Hoteliers
Hotel Speak
AUGUST 9, 2023
In the dynamic landscape of the hospitality industry, effective hotel revenue management stands as a cornerstone for optimizing profits. Understanding the Essence Hotel revenue management is a strategic process encompassing the precise pricing of hotel rooms to unlock their full revenue potential.
These 3 Common Revenue Management Myths Can Hurt Your Bottom Line
Hospitality Net
JULY 5, 2023
Many hoteliers misunderstand revenue management. They think it’s all about lower prices when it’s actually about online visibility and brand reputation.
From Quick Fixes to Long-Term Wins in Hotel Revenue Management
Demand Calendar
JULY 5, 2023
In the realm of revenue management, this problem is particularly acute. Revenue managers are often caught in a balancing act, trying to maximize revenue, manage costs, and ensure customer satisfaction while dealing with the daily pressures of occupancy rates, room pricing, and customer feedback.
The importance of pickup and pace in hotel revenue management
Hospitality Today
SEPTEMBER 25, 2023
Setting the right price might be the cornerstone of revenue management, but how you arrive at that decision requires some context
How Collaboration between Marketing and Revenue Management Drives Hotel Growth
Demand Calendar
JUNE 20, 2023
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.
The not-so-invisible link between revenue management and hotel operations
Hospitality Net
SEPTEMBER 1, 2023
Many hotels regard revenue management and hotel operations as two separate departments with different responsibilities, objectives and no natural link. In my experience, I’ve seen that collaboration between revenue and housekeeping managers can transform a hotel’s profitability.
Summerstar Tourist Parks automate revenue management processes across fourteen properties with IDeaS
eHotelier
SEPTEMBER 24, 2023
IDeaS announced today that Summerstar Tourist Parks has adopted the IDeaS’ G3 Revenue Management System (RMS) across fourteen of its Australian-based caravan and holiday park sites.
Report highlights hotel investor attitudes and opportunities for revenue management technology
eHotelier
SEPTEMBER 8, 2023
IDeaS released a special report “Unlocking Hotel Performance: The Power of Revenue Management Technology Today,” including key insights hotel investors attitudes to revenue technologies, the role of artificial intelligence in hospitality, and how technology is reshaping hospitality commercial organizations.
SevenRooms Launches Revenue Management to Help Operators Increase Sales & Profitability
Hospitality Tech
OCTOBER 3, 2023
Automated revenue management solution will provide restaurants with the tools they need to optimize their operations and fill more seats, more often.
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