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.
Bridging the Industry With Neil Corr
Neil Corr, IDeaS senior advisor in EMEA, discusses the different ways today’s hotels can achieve intelligent revenue strategies in a Big Data-driven world.
A Partnership Providing Better Hotel Pricing
IDeaS and OTA Insight partnered together to give hoteliers an edge over their competitors by providing them with industry-leading revenue management solutions. Vivek Bhogaraju, director of global strategic alliances and initiatives at IDeaS, had the opportunity to sit down with Adriaan Coppens to discuss how mutual clients are benefiting from the IDeaS and OTA Insight partnership.
Revenue Technology Needs to Take Risks
The inherent nature of revenue management is mathematical and scientific. But while revenue management and specifically, the hospitality industry, might drive forward with advanced principles of science and math, its survival depends largely on its heart.
Sunday Night Fever
With the 40th anniversary of “Saturday Night Fever” upon us, Vanity Fair recently described the pop culture movie as a “fun 70s curiosity with pitch-blackness.” The special anniversary release of this iconic film not only elicits nostalgic memories of obnoxious white suits and slick dance moves, but it also leaves me thinking about hotels and their Sunday night pricing. You see, Sunday nights can also be considered a fun curiosity with a bit of pitch-blackness.
Bridging the Industry With Digna Martinez
Digna Martinez, IDeaS senior advisor, talks about when total revenue management is going to happen, how organizations need to roll it out, and why hotels need to facilitate organizational change to do so.
Turned Down For What?
Today’s market environments have reached merciless levels of hotel competition. New and re-branded hotels are popping up on virtually every corner. Industry consolidation catapulted distribution giants like Expedia and Booking.com into online Goliaths. Airbnb and other sharing economy wunderkinds have progressed well beyond some kind of side hustle, posing a legitimate threat for stealing market share – especially over high compression time periods.
The Vast & the Various: Your Guest is Driving, Buckle Up
As an industry, we have debated tirelessly over the pros and cons of focusing on driving more direct bookings. One can argue just how profitable direct bookings are in relation to the alternative. Hotels are being hit with countless solutions to help them drive more of the business they want.
Travel Data Insights from Industry Innovators
Listen to a recent panel featured at the ITB Berlin eTravel Lab where technology providers delivering specialized data—such as reputation, market intelligence and travel intent data—discuss the value that data provides and offer best practices on leveraging it to build an optimal revenue management strategy. Panelists discuss how the future of analytics fueled by these […]
If I Knew Then What I Know Now
At 22 years old, I was finishing up my last year of college when I was named general manager of my first limited service hotel. In those days, a typical hotel day may have consisted of checking in a guest, refilling their coffee and jumping into the hotel van to give guests a ride to […]