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.
Machine Learning: Buzz Phrase or the Real Deal?
Thanks to big data, machines have a lot more to learn from. The question is: Are they learning or are they causing hotels to work harder to decipher all that added data?
6 Steps for Developing a Strategic Revenue Roadmap
The roadmap to long-term, positive revenue performance can be achieved strategically and tactically with several key steps and considerations in place. Here are six considerations for mapping out your revenue roadmap: Obtain Executive Buy-In & Vision Effective revenue management starts at the top and its vision and revenue management goals must be shared by the […]
Great Expectations for Hotel Revenue Management
Expectations for the hospitality industry grow stronger with every year – and the shelf life of how long a competitive offering is considered leading-edge before it becomes just another standard guest expectation has dramatically decreased over the recent years. For example, free Wi-Fi and complimentary happy hours – once competitive selling points for hotels – […]
When Your RMS Removes its Headphone Jack
When Apple recently released their iPhone 7, consumers were surprised (and even outraged) to find the company had removed its headphone jack – requiring users to rely solely on relatively pricey wireless headphones. While no doubt a bold move from Apple, will this strategy end up being hailed as a smart move or a potential […]
A Tale of Two Hotels: The Automation Edition
In recent years, the hotel revenue management industry has seen a swift transformation – moving past filling as many rooms as possible to approaching their revenue strategies from a more holistic viewpoint. The fruits of today’s sophisticated technology have allowed hotels to quickly and efficiently digest large volumes of data to make more informed decisions […]
Infographic: Increasing Your Bottom Line
Car Park Systems: A Powerful Combination
Step back in time for a moment to your middle-school chemistry class. Many kids are familiar with a classic experiment that combines vinegar and baking soda. When mixed together, these two useful pantry staples turn into an explosion of foam due to the acid-base reaction. Besides being wildly entertaining, it shows that some things are […]