Blog

20
Apr

Win Free Snapshots for a Week!

Kriya RevGEN is offering five lucky owners/operators the chance to experience our brand new RevGEN Snapshot 2.0 in their inbox every day for a week.  Enter your information below for a chance to win.  Winners will be selected at random and must be new users of Kriya RevGEN.  All we'll ask from you is access to your PMS for one
1
Apr

Do You REALLY Understand Your Demand Drivers?

Most Revenue Managers including those that consider themselves “seasoned” will tell you that they have a firm grasp on what demand drivers influence occupancy at their hotels.  Expect a laundry list of the usual suspects: “Corporate high rises within 2 mile radius of the property”, “Large concert venue”, “Transient summer travelers passing through to a larger market”.   What if

15
Mar

Forecast Accuracy? Who CARES?!

“How accurate is my forecast? Well…it’s very accurate – usually falls within the industry standard 5% variance for a monthly forecast, and we automate at the market segment level.” This is the response I typically provide when asked about the RevGEN forecasts, but sometimes what I really want to say is, “it doesn’t matter how accurate it is; what matters

9
Mar

The Age Old Rate Strategy Question – Who’s Right and Who’s Wrong?

As a Revenue Manager, it is important to keep an excellent relationship with your hotel’s General Manager and anyone else who might be on your revenue calls, however, anyone that’s ever been on a revenue call knows it’s often hard to keep the peace. On the one hand, your GM is fully ingrained in the hotel and knows exactly what’s

31
Dec

Top 6 Hotel Trends for 2016

Happy New Year! For our last blog post of the year, we thought we’d take a quick look back on some of craziness that was 2015, but more importantly, focus on the exciting things ahead in 2016.  In 2015, we saw all sorts of weird stuff happening, like Uber getting into travel with “magical” itineraries, Marriott buying Starwood to boot

9
Oct

Online Presence – Price isn’t Everything

Seeing as how Revenue Management is partly an art as well as a science, there is a lot of discussion around a property’s “perception” when it is shopped online.   Unfortunately for many of us as revenue managers, we only focus on one aspect of a hotel when considering how it will look to prospective guests: its price. In reality, there

24
Aug

OTA War – What is it good for?

Almost every day a new blog comes out stating how terrible the OTAs are for the hotel industry, but very few seem to be doing much about it from the individual hotel up to the brand level. I’ve come to the conclusion that we as hoteliers need to stop complaining and start adapting. The OTAs are expensive channels, but beyond

7
Jul

Claiming your Digital Channels to Improve Online Visibility

Your new hotel is in the perfect location, next to the hottest area in town! But there is only one problem, you’re still not selling rooms… Even when your CompSet is selling out night-after-night. Why? Needless to say, location is everything for a hotel right? Well yes it is but in our day and age there are numerous “locations” to

10
Jun

Hotel Revenue Manager Tips: How to Avoid Dropping Rate Day-of

“We’ve lost our minds! We’re slashing prices left and right! See this price?! $149.95??? SLASHED! Now we’re at $89.95! See that price over there? $219??!?! SLASHED! Now only $129!!!! They need to put me in a straightjacket!!! I’m Slash-Happy!!!” Unless you regularly appear on day-time television ads in a vertical pinstripe seersucker suit, in front of a large “Warehouse” or

18
Feb

10 Revenue Management Tips to Crush Your Event Competition

I love revenue management, especially during events. They are what separate the professionals from the amateurs, the men from the boys. With most STR results, amateur revenue managers can hide their failures behind a strong corporate base, groups, or even brand presence. With a high demand event, there are no excuses. The revenue manager should be held almost solely accountable for