- BLOG
Many hoteliers misunderstand revenue management. They think it’s all about lower prices when it’s actually about online visibility and brand reputation. Lowering prices during low demand is one way to ensure you can maximize...
Some hoteliers treat revenue management as an occasional task to consider when it suits them. Often, these hoteliers misunderstand revenue management as a discount tool without realizing it touches every aspect of the business....
Hoteliers juggle multiple factors in their room rates, including demand, costs, and the hotel’s current online visibility. Revenue management is the science of increasing your profitability every year and requires data from all departments....
Credit card pre-authorizations are essential to a hotel’s revenue management strategy. This is especially true in high season when you’re counting on maximizing your revenue. Last-minute cancellations and no-shows can leave you with a...
As a hotelier, you know that generating profitable earnings is the key to a successful hotel. However, understanding your profitability ratios isn’t always straightforward because you may not have all the information you need...
Now that the first half of the year (H1) is over, hoteliers are reviewing their numbers. Is your property on track to close the year with a 15%-40% increase in revenue from 2019? Over...
For some hoteliers, a Revenue Management System (RMS) seems like the ticket to higher occupancy and room rates. Get the software, input some data and away you go. Or something like that. Designed to...
Hoteliers spend a lot of time training hotel staff and ensuring their property is clean and welcoming. But when it comes to maximizing profits, breakfast can be an overlooked revenue booster. How? Because your...
The hotel business can seem fickle. Weather, pandemics, and other things outside your control impact your revenue. Yet, the discipline of revenue management demonstrates you have more control than you may think.
Smart hoteliers view revenue management as a strategic way to improve profits. One component is “dynamic pricing.” You’re familiar with this model when considering your rack rate vs. your bottom prices. Those bottom prices may not cover much more than your costs, but they impact your rack rate months away when you can see higher profits. You’ll see below how this works.