With the new Government Per-Diem rates recently released, now seems as good a time as any to discuss the often misunderstood Per Diem rate. Just to clear up any confusion about the Per Diem there are several things you should know: There are two forms of Per Diem: Lodging Per Diem and Meals and Incidentals Expenses (M&IE). If you can
The first hotel that I ever worked at was a relatively small 70 room property with 4 floors. Almost everything about the hotel was quite standard: a 2.5 Star property about 3 miles from a major NFL stadium and just a few miles from a major Amusement Park. We were busy in the Summer; our weekends almost always fared better
In the Spotlight: Advance Purchase Discounts There are two types of people in the world: those who book advance purchase discounts and those who do not. I am firmly in the latter camp although there are plenty of arguments for and against. Who am I to impose my neurotic, worrisome tendencies on to you the reader, who have the right
If you don’t know what hurdle points are, please see my video A quality that I tend to notice in good revenue managers is a willingness to question the status quo, and actively experiment with the various tools at their exposure to try to exact extraordinary outcomes. Back in the fall 2014 I attended a revenue management course hosted by one
Do you want to break the code on ADR Breakage? To an outsider, the revenue manager’s lexicon may often seem like a confusing amalgamation of newspeak, decipherable only with a Ouija glass or enigma machine. Examples that spring to mind are “perfect sell”, “fenced”, “OTB”, “BAR”, and “OTA” just to name a few. A term that fits firmly in that
As a Complete Hotel Revenue Management Service, we here at Kriya RevGEN try to utilize every possible channel/rate/marketing opportunity to bring higher and better revenue to your hotels. Although paying to play with an “OTA” is sometimes considered taboo in our industry, we Revenue Managers understand that OTA’s are necessary for a complete pricing strategy, especially during periods of low demand.
As hotel account pricing decisions become increasingly more automated, it frees up Revenue Managers’ time to dig deeper into the data to uncover more revenue opportunities. One of the most important opportunities which is often overlooked is analyzing and renewing rates for current negotiated accounts, whether global RFPs or backyard LNRs. Revenue Managers typically overlook these opportunities because they assume
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