Why Now is the Time for Hotel Owners to Leverage Revenue Management
- by Revenue MattersThe hotel industry, in virtually every global market, has recovered from the sharp downturn of 2008 and 2009. In the US market, during the first half of 2014, room demand was up 4.2% and room revenue was up 8.6%. Randy Smith of Smith Travel Research (STR) states, “The surge in demand we witnessed during the summer of 2014 even caught…
Revenue MattersThe Revenue Management Business Process, Designed to Produce Results
- by Revenue MattersThe unique aspect of the hospitality industry when compared to many others is that lodging establishments come in all sorts of shapes and sizes. Some have extensive resources at their disposal while others simply don’t. In smaller lodging establishments and in a vacation rental management setting where margins are often razor thin, individuals often perform several roles simultaneously. In cases…
Revenue MattersA Practical Guide to Competitive Set Selection
- by Revenue MattersDetermining a competitive set is something those in the hospitality industry do routinely, however, these selections can have lasting effects on market positioning and performance and ultimately, asset value. The three most common reasons for competitive set selections include pro forma development, market positioning and performance benchmarking. Selecting an appropriate competitive set and evaluating this selection over time as market…
Revenue Matters