Sometimes there’s more than one right way to revenue…
Hotel revenue management. It’s an art and a science. It takes both smart humans and even smarter technology to get it right and produce optimal results, time and again. At IDeaS, we are constantly tapping into the expertise of our own smart humans.
In talking with our hospitality industry vets and revenue management maestros, we often find that successful revenue management practices aren’t always easy-to-explain, black-and-white, right-and-wrong distinctions. Sometimes there’s more than one right way to revenue—and through this closer examination, we’ve arrived at some basic, better, and best approaches to common hotel revenue management strategies.
Now we are excited to have launched a new, must-see video series on this very topic, Basic, Better, Best, with the first two installments already available for your viewing pleasure.
In episode one we delve into how to approach periods of lower demand.
Basic, Better, Best: Low Season Revenue Strategies
Given the seasonal operating environment many properties face, how should a hotel’s revenue, sales and marketing teams work together to maximize revenue through any low season?
And in episode two, we identify some of the best ways to counter a rival hotel’s discounting tactics.
Basic, Better, Best: Strategies to Counter Hotel Discounting
Competition is a fact of life in the hotel sector. How should hoteliers intelligently address a competitor’s aggressive discounting?
We hope you’ve enjoyed these videos, and we invite you to subscribe to our YouTube channel and stay tuned for more Basic, Better, Best.