The Future of Revenue Management Series: Revenue Managers
This is the second in a series of five videos about the future of revenue management, as moderated by Sherri Kimes, professor of operations management at Cornell’s School of Hotel Administration. The function of revenue management within a hotel organization has evolved significantly since its inception. The proliferation of industry data and channels only solidifies […]
Which came first: the forecast or the price?
Is your price a result of your forecast or is your forecast a result of your price? Optimizing your hotel’s available capacity is what revenue management is all about Both, price and forecast, are strongly tied to one another Revenue technology that understands the relationship can holistically price guest rooms This is right up there […]
The Future of Revenue Management Series: Distribution
This is the first in a series of five videos about the future of revenue management, as moderated by Sherri Kimes, professor of operations management at Cornell’s School of Hotel Administration. The function of revenue management within a hotel organization has evolved significantly since its inception. The proliferation of industry data and channels only solidifies […]
5 Signs Your Revenue Strategy is Behind the Times
With all the advancements in hotel technology to date, many hoteliers still rely on limited processes and technology—to the detriment of their productivity and bottom-line revenues. Is revenue technology forcing your strategy to fall behind the times? Here are 5 signs your technology is holding you back.
Bridging the Industry With Neil Corr
Advisory Services answers recent client questions about hotel revenue management and optimal price positioning Neil Corr, IDeaS senior advisor in EMEA, discusses the different ways today’s hotels can achieve optimal price positioning and business mix . In the volatile world of hospitality, what are some of the typical business scenarios that hoteliers should strongly consider, warrant […]
Revenue Technology: Are You Doing It Wrong?
When it comes to executing a successful and profitable strategy, there are more than a few ways today’s revenue management technology can help every single hotel master their unique business.
Is This Group Business Good Business?
Take the guessing out of group business Blog Soundbites: Group business accounts for 40-60% of hotel sleeping rooms business Every hotel should have instant access to a full profitability displacement analysis You need more than a tool that only replaces Minimum Acceptable Rates Back in my revenue management days I frequently heard the following when it […]
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.