By admin No comments yet Hotel Revenue Management, hotel revenue management in 2021, hotel revenue management tech trends, hotel revenue management trends, hotel tech trends, revenue management in 2021, revenue management trends 2021, trends in hotel tech 2021, trends in tech 2021
Here we are in Spring 2021! COVID is slowly fading as more and more of us get vaccinated, and occupancies are ever so slowly creeping back up to levels that are at least vaguely reminiscent of what we used to call “normal”. Make no mistakes about it though, the bombshell that was COVID forever changed the landscape of revenue
By admin No comments yet building a compset, choosing a compset, competitive set, hotel competitive set, hotel rate shop, hotel revenue, Hotel Revenue Management, hotel revenue management guide, hotel revenue management lesson, rate shop, rate shop comp set, rate shopping tool, Revenue Management, revenue management guide
An accurate, relevant rate shop is one of the most important tools that a revenue manager can have in their arsenal. In this blog we’ll share the best ways to set up your rate-shop competitive set! Here are some of the factors you should weigh when assembling a compset Proximity – How close are your competitors? As a
By admin No comments yet ADR, Hotel Revenue Management, hotel revenue management guide, hotel revenue management lesson, hotel revenue management terms, occupancy, revenue management guide, revenue management lesson, revenue management terms, revpar, RevPAR equation, what is revpar
RevPAR is the Hallmark index of hotel revenue management because it is all encompassing; RevPAR incorporates both occupancy and ADR into one, easily digestible number. The RevPAR, or Revenue Per Available Room equation is as follows: Room Revenue / Rooms Available for Sale = RevPAR or Occupancy % * ADR = RevPAR RevPAR is so useful because it
By admin No comments yet hotel pricing, Hotel Revenue Management, Revenue Management, revenue management guide
Pricing Models There are multiple pricing models currently in use in the world of revenue management. Each model has its benefits and drawbacks and while there is no ‘best’ pricing model, each one is fascinating to learn about and helps develop your analytical thinking and problem solving skills as a revenue manager. Traditional Model (“rate
By admin No comments yet 2020 meme, 2020 memes, hospitality humor, hotel humor, Hotel Revenue Management, hotel revenue management meme, hotel revenue management memes, revenue management funny, revenue management meme, revenue management memes
Here they are! Our best Hotel Revenue Management Memes of 2020!
By Daniel Foreman No comments yet compilation, guide, Hotel Revenue Management, how-to, infographic, revenue management guide, revenue manager's guide
Throughout 2020 we shared lots of one-page learning series to help you learn more about revenue management, but also tips and tricks on how to maximize your revenues. Just in case you missed any, check out this compilation of everything we put together! In December we showed you how to boost ancillary revenues at your hotel:
By admin No comments yet government per diem hotels, government travel, Hotel Revenue Management, per diem, Revenue Management, Revenue Management Government Travel, revenue management guide
Have you ever needed a guide that you can share with your front desk teams to help them improve coding and be more confident when offering the various government rates? If so, then share this guide on your next revenue call to help clear things up! Click here to download a pdf of our Government Cheat-Sheet In case
By admin No comments yet Government Per Diem, government travel, Hotel Government Travel, Hotel Revenue Management, Hotels Per Diem, revenue management guide
Don’t forget to look forward and get your hotel set up for success for 2021! The new Government per diem rates for 2021 came out last week and you want to make sure that your market didn’t make any big changes. If rates have changed and you did not check the new rate structure, you could be missing tons
By admin No comments yet COVID-19, Hotel Revenue Management, Hotel Revenue Management COVID, Hotel Revenue Management COVID-19, Revenue Management, Revenue Management During COVID, revenue management help, revenue management strategy
With the wrath of COVID-19 halting travel globally, it is imperative that revenue managers think strategically. The tools, strategies, and technology we once used may no longer apply and work the same way. With the future unclear, the data we relied upon to make informed decision is now irrelevant. As demand changes drastically, so should our discussions about a hotel’s
By admin No comments yet case study, event management, hotel revenue, Hotel Revenue Management, hotels, profit, Revenue Management
In this case study, check out how we vastly improved year-over-year performance for graduation night in a busycollege town! By better yielding out lower rated segments earlier, utilizing all brand tools at our disposal, and working with our teams to ensure that we stay firm on enforcing restrictions and policies, we have seen a $110 jump in ADR vs.