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.
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.
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.
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.
Driving Direct Business & Better Revenue in 2017
In today’s ultra-competitive hospitality marketplace, any competitive edge can translate into a stronger bottom line, and it’s no secret that driving direct business and better revenue is one of the top priorities facing all hoteliers. Successful revenue management and direct business practices are vital in increasing profits for every organisation. Tried and true principles will […]