Using Hotel Demand for a Blue Ribbon Strategy
In revenue technology, what about approaches that use small slices of hotel demand—such as lost business—to make big-picture forecasts? Is that enough, or should technology evaluate a larger set of considerations to determine total hotel demand?
Technology Don’t Work? Shoot It.
Hotels are at an exciting – and potentially scary — point in the arc of revenue technology adoption where some organizations have to make the tough decision to terminate an existing system, or switch technology providers in the pursuit of finding a better fit for their business strategy.
Manual vs Automatic: Journey to Success with Confidence
It’s easy to develop manual technology that’s one step above the work already being done by property management systems. But the problem remains that the manual rules they rely on still keep you boxed in, limiting your hotel’s potential.
So Happy Together: Pricing & Inventory Controls
On one part of your plate, you have pricing. And on the other part? Your inventory controls. But it’s only when you start combining those two that the exciting action begins—the kind of action that drives maximum profit potential.
Know When to Break the Rules
“Flexible rules” are supposed to help hotels adjust their rates when conditions have been met. But rules—even those as descriptive as “flexible”—don’t hold a candle to the profits and power an automated, analytics-based pricing approach by room type can deliver.
Why Cancelling & Re-Booking is Killing Your Revenue
Why do guests cancel and re-book hotel reservations? Well, that’s easy: Because they can, and because it makes economic sense—people don’t want to spend more money than they have to. In the eye of the traveler, freeing up money on a hotel stay frees up money to spend on other enjoyable aspects of a trip.