http://www.dailymail.co.uk/money/holidays/article-4622838/How-holiday-firms-hike-prices-know-ll-pay-up.html
Eight things smart hotel revenue managers do differently!
In today’s connected world your hotel can find it difficult to be different. Most hotels are online and they are working with the same channel partners as you. They have pricing strategies aligned to the competitor set (which you are definitely part of) and are focused on their guest satisfaction scores and online buzz. There
Are you a Hoper or a Maker ?
HOPE, we HOPE next month will be better, we HOPE that we will reach forecast, even better, exceed budget. Hope is unaccountable, if we don’t reach it, we are dealt a bad hand. We HOPE too much – HOPE is reactive, and in our world we need proactive actions to suceed. We need to MAKE
Guaranteed Success through Revenue Management
Revenue management involves applying exercised strategy for the purpose of estimating the behaviour of consumers at the micro market level and utilizing the availability and price of the majority of products to maximize the growth of revenue. Revenue management is instrumental for the generation of additional revenue to the tune of 3% to 8% which
How to Apply Principles of Hotel Revenue Management?
Currently, the numbers of hotel revenue management theories that exist in the market are almost at par with the number of people using it. Since revenue management is also known as yield management, different people perceive it in different ways. The tasks that are implemented in revenue management can work wonders if applied rightly and
Hotel Revenue Management’s Some Useful Ideas
Revenue Management is an efficient way to maximize profits from limited resources. Not all businesses, especially hotels, can afford to increase their range of services in a short period of time. Hotels have a limited number of rooms available at any given point of time. It is only through the proper implementation of good revenue
The Perfect Revenue Manager is more like Chuck Norris
The perfect Revenue Manager is more like Chuck Norris than you think! History has shown us that the traditional Revenue Manager has been a master of analytics; an Excel guru. The analysis may have been perfect, without flaw, but the analysis has largely focused on the past and what has happened rather than what is about to happen, and what we need to
Revenue Management: Shaken not Stirred!
James Bond has taught all of us a thing or too. We know how to wear tuxedo’s correctly, jump from buildings and conquer the villains time and time again. He also taught us that the best martinis were those shaken and not stirred. Stirred Martini? Such an exciting and glamorous cocktail created by the gentle stirring with
HOPELESSNESS – The Revenue Managers GOLDEN NUGGET
HOPE – such a frequent term, so overlooked. HOPE, we HOPE next month will be better, we HOPE that we will reach forecast, even better, exceed budget. We HOPE too much – HOPE is reactive, and in our world we need proactive actions to suceed. We need to MAKE the HOPE happen. It is the
Things that drive me bonkers during a hotel stay
Hotel things that drive me BONKERS! 1. Get key at Front Desk….wait for elevator…take selfie in elevator…walk to room…key doesn’t work! 2. Want to shower? Taps are always under the shower head….there is no way you can prevent a dousing of cold/sclading water….damn annoying! 3. Housekeeping knocks on door…but they always knock so softly so