To Book or To Stay: That is the Question
Whether ‘tis nobler in revenue strategy to suffer the reservations and upgrades of outrageous fortune, or to take arms against a sea of data, and by opposing, better optimize them. Booked data represents transactional data that indicates which room type a guest booked Stayed data represents transactional data that specifies which room type a guest […]
Component Rooms: Another Step toward Personalizing the Guest Experience
Pricing guest rooms for all guest types Component rooms is a mix of guest rooms that can be converted into various combinations to form larger accommodations for guests Little has evolved in terms of an automated strategy for component rooms until now IDeaS G3 RMS understands demand at a granular level, down to the room […]
A Quick Guide to Important Meetings & Events KPIs
Take your next great revenue management strategy to new heights Revenue per square foot/meter is the great equalizer, much like RevPAR for guest rooms The combination of metrics allows hotels to be more flexible and thoughtful about their demand-based pricing strategy It is critical to monitor the success of an M&E revenue strategy and provide tangible […]
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 […]
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 […]
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.
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?
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.