More bookings, higher rates, better occupancy what do you think is top of the mind for every hotelier? Yield how much revenue all of the above get you.
Covering the Latin American hotel landscape, the new regional report concerns nearly 1,600 global chain properties whose prices are tracked by Rate Insight. As part of a project that started with the release of our global LOS report, it digs deeper into the data to reveal regional: Discounting frequency and size; Discounting strategies distribution; and Discounting strategies by categories and stars.
Revenue management discipline was non-existent until a few years ago. Started in 1980s from the airline industry, the techniques are now adopted across industries and businesses are growing exponentially ever since.
What determines how revenue managers set and adjust their prices? Its a common question with a seemingly obvious answer: many factors. Most of them relate to supply and demand, an important indicator being your competitors pricing. But how do you know youre comparing apples with apples when looking at your competitors prices?
Setting a price customers are willing to pay, based on the perceived value to them, is one of the highly recommended pricing techniques. Revenue Management expert and Founding Director of ARMA, Melissa Kalan helps understand this technique and offers valuable tips on executing this strategy.
HSMAIs newest publication, Evolving Dynamics: From Revenue Management to Revenue Strategy takes a deep dive into the fundamentals, cross-disciplinary partnerships, and emerging elements impacting revenue optimization. Benefit from new insights, 16 updated chapters, and several new case studies in the updated Certified Revenue Management Executive (CRME) certification study guide.
While it is important to analyse the impact of historical strategies and data, looking ahead is equally important. ARMA founder Melissa Kalan explores what smart revenue managers should keep in mind when planning 2019.
While revenue management has been a hotel buzzword for years, many hoteliers seem to have conflicting understandings about what exactly constitutes revenue management. So, Im here to remind you of the fundamental principles of revenue management and why revenue management technology is so important for hotels.
Your role as a hotel general manager (GM) is a complex pursuit with a simple objective: to meet (and exceed) service, operations, as well as profit objectives for your property. The variables that can impact your success as a GM are substantial. This 12-step guide will help you.
Darlene Rondeau, VP, Best Practices, Online Merchandising pens a guest blog post highlighting the importance of bringing revenue managers into your decisions on digital marketing.