We will now expand our pre-opening checklist with key points concerning revenue management, distribution, reservations, sales and the systems needed to make your success story complete.
Over the past 10 years, several factors have changed the models and approaches to Revenue Management (RM) and Pricing, particularly the Internet and the demise of traditional carriers and the subsequent rise of budget carriers.
For many hotels, the road to total revenue management represents a journey already begun.
In general, mobile platforms are a good investment from a revenue management perspective as they represent another consumer friendly channel where a company can distribute its rates and inventory.
Although Wyndham Hotels Group saw a 24% year-on-year increase in revenue to US$185 million in the first quarter of 2012, its parent company’s profit declined.
Accor, Courcouronnes, France, saw a 1.2% year-on-year revenue increase of €16.7 million (US$21.8 million) during the first quarter of 2012 to €1.37 billion (US$1.79 billion), up from €1.35 (US$1.77 billion) in 2011.
The following questions will help you understand how to effectively manage both online and offline channels to maximize your hotel’s revenue.
Starwood Hotels & Resorts Worldwide reported fourth-quarter 2011 results on Thursday with revenue up 14%, beating Wall Street estimates.
Revenue managers may read all of the latest research and trends and have every good intention of implementing them but never quite get around to it. This is especially true for independent and boutique hotel revenue managers.
Today, many traditional aspects of marketing have moved to revenue managers who are tasked with determining the right channel and price to sell inventory. But there are other trends that are changing the face of revenue management.
Budget season is also a time to get everyone back on the same page. Your success in 2012 is entirely dependent on how you build and execute your strategy.
Budget season is also a time to get everyone back on the same page. Your success in 2012 is entirely dependent on how you build and execute your strategy.
This article will provide some tips on ensuring that you manage your rates from a position of strength for both a short term and long term pay off.
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