As more guests start to use predictive pricing tools when booking their travel plans, hoteliers are figuring out ways to benefit from this. By Bryan Wroten bwroten@hotelnewsnow.com @HNN_Bryan REPORT FROM THE U.S.—It’s a constant back-and-forth: Hoteliers will always try to get the highest rate possible, and in return, guests will always try to figure out
Once a “nice-to-have,” the role of revenue management for any property is now mandatory. It is at the epicenter of hospitality operations: Practitioners directly impact top-line performance – and the great ones strongly influence profit. Sure, foundational skills related to the profession of revenue management are important – but those skills can be taught. I
Revenue Matters was pleased to facilitate a discussion on alternative metrics for the hospitality industry at the recent HSMAI ROC Americas conference. HSMAI presents 9 videos from select sessions at our 2018 Revenue Optimization Conference (ROC) Americas. These videos are available for viewing free for HSMAI members and $59 for non-members. This
Trevor Stuart-Hill, ISHC President, Revenue Matters July 31, 2018 I have often been frustrated seeing parity notices coming in from OTA’s and other online distributors. In our practice, we support all sorts of properties and I began to notice a common theme; it is the independent properties that seem to be struggling to achieve and
Experts explain an EBITDA impact model that looks at changes in OTA and non-OTA production. The groundswell of support for “book direct” initiatives is squarely aimed at reducing reliance on online-travel-agency production. Blindly following a course of action to simply reduce OTA transaction mix by an arbitrary percentage may not yield the best financial results.
Projections for 2017 and beyond by STR, CBRE and PKF all call for anemic occupancy growth at best, notwithstanding record occupancy levels for the U.S. hospitality industry. With Revenue Per Available Room (RevPAR) growth projections at inflationary levels (2.5 - 3.5 percent, or so), it is clear that expectations call for Average Daily Rate (ADR)
• How to shore up business during periods of low demand • Taking advantage of changes in loyalty segments • Avoiding the dominoes of falling ADR
There is no one right way to be a revenue management practitioner, and the trick is to find what approach fits best. Attracting and retaining top revenue management talent can be a challenge these days. Owners and general managers often ask me what appears on the surface to be a very straightforward question: “What makes
Pricing for any type of product or service, let alone lodging, is nothing new. Any “Marketing 101” textbook will tell you that Price along with Product, Place and Promotion make up the “4-P’s of the marketing mix.” Pricing too has been in place far longer than the practice of Revenue Management, which, among many other
El VII Congreso Nacional de Hoteleros de Chile, es un encuentro de negocios, perfeccionamiento y camaradería, dirigido a la industria hotelera chilena. Organizado por la Asociación de Hoteleros de Chile A.G se realizará en la ciudad de Iquique, los días 1 y 2 de octubre de 2015. El evento tendrá lugar en el Hotel Gavina.