A Guest-centric Approach to Hotel Pricing: Reputation Pricing

Reputation pricing is a new and exciting way of utilizing your reputation data in hotel management. Reputation Pricing aligns your hotel’s pricing strategy with guests’ knowledge, expectations, and willingness to pay – at the point of purchase. In the age of big data and the abundance of social channels, user generated content acts as a […]

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7 Questions Before Getting Started on Function Space Revenue Management

Hotel revenue management today has a rather established set of tools, business processes, and expertise to support effective room revenue optimization. Revenue Managers are generally comfortable with the theory and technology in rooms revenue management for their strategic planning and day-to-day decisions. However, when it comes to managing meetings, events and other ancillary revenue streams […]

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Why Leading Scientists Call ‘Regrets and Denials’ “Dirty Data”

  Historical demand has long been a critical component of dynamic pricing and Revenue Management Systems (RMS). An even more critical requirement for RMS is the unconstrained demand, which is the true demand for a particular product in the absence of any limitations, such as when a room or seat is unavailable to purchase. The […]

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Is “More Data” Equal to “Better Data” in Revenue Management – Part 2

  In Part 1 of our series on Big Data in Revenue Management we discussed that, when it comes to incorporating big data into Revenue Management Systems (RMS), relevance is key and that folding big data into RMS decision algorithms is what makes the difference, rather than displaying the data for mere decision support. We also […]

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Is “More Data” Equal to “Better Data” in Revenue Management – Part 1

For some time, the biggest buzz in business has been around the advent of big data and its application to hospitality and specifically, Revenue Management Systems (RMS). Historically, RMS were already the biggest data owners within hospitality, with two or more years of detailed reservations data consumed by the RMS, across a variety of room […]

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5 Questions Hoteliers Should Ask When Supply Growth is Hurting Rate Growth

While most of the US hotel industry enjoys a natural RevPAR lift due to the pricing power gained from increased demand and muted supply, other markets haven’t been as fortunate. Take a market like New York, for example, that has struggled to grow rates in the face of a 21% supply increase in the last […]

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