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.
Bridging the Industry With Digna Martinez
Digna Martinez, IDeaS senior advisor, talks about moving revenue management into function space and the basics of revenue management for all organizations
What Craft Beer Teaches Hotels
Changing industry dynamics and newly-tapped data sources have more so turned our industry’s evolution into a revolution—shaking up hotel technology, profit performance and organizational structures in the process. But it’s time to give pause and examine another important revolution. The one happening within the beer industry.
Back to the Futurecasting
While hotels can’t go back in time (or forward) to arrive at their optimal strategy, there are things hotels are doing in the present to make for the most positive impacts on their future.
Positive Profit Performance Through Revenue Culture
As hotels concern themselves more with rising reservation acquisition costs and the need to competitively differentiate through loyalty programs, unique stay experiences and personalized offers, a sound revenue strategy is even more prevalent. They need to provide strong earnings results each quarter that demonstrates their ability to enact a disciplined and agile revenue strategy that increases net income.
3 Lessons to Learn From “Hidden Figures”
As a proud hotel veteran, and as client relationship manager working with some of the most impressive and iconic hotels in the Americas, it never fails to surprise me how many similarities our industry has with other branches of life. The lessons I took from this movie, for example, were a clear indication of this worldly interconnection.
Bridging the Industry With Charles Wang
Charles Wang, regional head of Advisory Services, explores how hoteliers in emerging markets can capitalize on strategic revenue management and attract the industry’s top talent.
The Endless Summer Marketing Campaign
It’s that time of year when hotels are eager to maximize their summer holiday months, enticing guests to purchase more premium rooms, stay longer and spend more while onsite. But how can marketing and revenue management target their unique offesr to the potential guests with the greatest chance of booking?
Free Sell or Free Fall?
Contrary to any widespread belief, hotel meetings and events space does more than just sell guestrooms. In fact, for many hotels, the profit potential of this revenue stream is so significant that it can contribute 40-60% of their total profits. When it comes to leveraging this event space strategically, however, it’s often one of the most overlooked opportunities for substantial revenue generation.