5 Signs Your Revenue Strategy is Behind the Times
With all the advancements in hotel technology to date, many hoteliers still rely on limited processes and technology—to the detriment of their productivity and bottom-line revenues. Is revenue technology forcing your strategy to fall behind the times? Here are 5 signs your technology is holding you back.
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 […]