Hotels should have a single-minded revenue generation team consisting of RM, S&M and CRM specialists working together to acquire, engage, and retain guests; optimize performance; and increase revenues - especially direct bookings.
Frasers Hospitality, a member of Frasers Property Group, is collaborating with Duetto to design new features within an app that will yield room rates on long stays.
How much of the increased RevPAR in the last 10 years is due to the OTA effect? And what effect has that had on hotel profits, that left to our own devices, would not have materialized without the OTAs?
Different revenue management approaches, technologies and resources can yield dramatically different results. Here are seven recommendations to keep in mind when it comes time to upgrade your revenue management capabilities.
Machine-learning innovations paired with high mobility, prescriptive analytics and transparent business intelligence enable independent hoteliers to unlock new profits.
Global is a big word and now that we have your attention I want to define global in a hotel setting. Global refers to all sources of revenue and their corresponding profit picture.
In the past, revenue management was considered a niche function. It was a practice largely applied to guestroom strategies without influence or contributions from other hotel revenue streams.