The Origin of Revenue Management in The Hospitality Industry
-To fully understand how the practice of revenue management evolved within the hospitality industry, we have to start with what was a chance encounter between two people named Smith on an American Airlines flight from Los Angeles to New York in 1953. Cyrus Rowlett “C.R.” Smith, then president of American Airlines, and R. Blair Smith, a…
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Social Media Flash Sale Tips
-Social media is a trackable way to target prospective hotel guests, and flash sales are an excellent way to build immediate demand for need periods. Combining both is a great opportunity to reach those guests interested in travel to your hotel. Here are some top tips for creating success with your social media flash sales: Facebook…
Trevor’s Two-Minute Tips: Pricing Quality vs Value
-What do you want to convey to your guests – Quality or Value? Learn how to get your message across with the strategic use of numbers in pricing in this Two-Minute Tip from Revenue Matters’ Founder, Trevor Stuart-Hill.
Developing Your Skills as a Consumer of Hotel Technology
-In general, branded hotels must adhere to the brand’s technology standards, but independent hotels need to keep up with technology, as well, if they are going to remain competitive. Decision-makers need to accept that almost every department on a hotel’s profit-and-loss statement is going to require some type of technology. The plan should start with a…
