What is revenue management automation and why is it important?

revenue management automation

Revenue management automation is revolutionising the way hotels manage their data. Evolving technology is enabling revenue managers to access the predictive and prescriptive data they need for their strategies in a much faster and more efficient way instead of relying on gut instinct. It’s also internal revenue processes so that managers can instead focus on […]

5 essential hotel software tools you need for effective revenue management

hotel software

As a hotel or revenue manager, you need access to a range of hotel software solutions for managing everything from your bookings to your F&B revenue streams, sustainability practices, and online reputation. Building the right tech stack can help you automate and streamline your processes so that you have easy access to all the data […]

How to measure the quality of a hotel and guest satisfaction

quality hotel

The best way to stand out from your competitors and build a positive reputation in the hotel industry is by offering your guests a quality hotel experience. At the very least, you should be meeting their expectations; ideally, you should be exceeding them.  But how do you measure the quality of a hotel? How do […]

Cloud-based hotel management software: Definition and how it works

cloud-based hotel management software

Generally speaking, there are two types of property management software solutions that hotels can use to manage their operations. The first is a traditional locally installed PMS that runs on a hotel’s servers. The second, which increasing numbers of hotels are now using, is cloud-based hotel management software. If you are one of the few […]

3 reasons why sustainable hotels are the future of the hospitality industry

sustainable hotels

The planet is becoming increasingly concerned with the effects of climate change and this has led to consumer demand for sustainability and brands that drive positive change. In terms of the hospitality industry, growing numbers of guests are favouring sustainable hotels when they search for travel accommodation, especially those from younger generations.  Let’s explore what […]

Top 3 tips for boosting your hotel’s total revenue management strategy

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The ultimate aim of every hotel is to make a profit. The best way to do this is to effectively manage your budget and follow a data-driven total revenue management strategy. In fact, most professionals in the hospitality industry now recognise that strategic revenue management is one of the key levers of business success. It’s […]

How to improve your hotel’s customer journey

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These days, it’s not enough to offer attractive rooms at fair prices; customers also expect a positive guest experience when they make a booking. One of the best strategies for achieving this involves analysing each touchpoint in your customer journey in order to identify what’s working well and which aspects of your guest experience you […]

What is rate parity and why do you need it in your hotel pricing strategy?

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Rate parity can be a difficult concept to understand and even harder to manage. So much so that many hotel revenue managers often wrongly assume that it is a bad thing. However, with the right approach and the right pricing strategy, rate parity can actually be a great opportunity to enhance your guest experience and […]

Machine learning and its importance in hotel revenue management

machine learning

Hotels are constantly looking for new ways to boost their revenue growth and attract a larger segment of the market. With the right revenue management strategies, you can optimise your prices, segment your market, predict consumer demand, and enhance your guest experience. But you also need the right tools and software so that you can […]

Personalisation: the future of hotel guest satisfaction

personalisation

Offering guest personalisation is a great strategy for improving the customer experience and building a solid reputation as a quality hotel. In fact, personalisation is not just desirable these days, most guests have come to expect hotels to tailor their stay to their needs and expectations. With this in mind, in today’s article, we are […]

Yield Management: how it can help you optimise your revenue

yield management

One of your main objectives as a hotel manager is keeping your guests happy so that they have the best possible stay at your establishment. However, it’s also important to create the right strategies to bring a steady flow of revenue into your business. Otherwise, no matter how happy your guests are, you are unlikely […]

Artificial Intelligence: when to rely on it when making strategic decisions for your hotel

artificial intelligence

Artificial intelligence (AI) is slowly transforming many aspects of how we live our lives. We’re already seeing driverless cars, virtual doctors, and marketing chatbots. And now, thanks to recent advancements, we are also beginning to see AI penetrate the hotel industry, especially in terms of data management and decision-making. Let’s explore some of these developments […]

Total Revenue: definition, how to calculate it, and examples

total revenue definition

Total revenue is the cornerstone of an effective revenue management strategy. It reflects the overall financial health of a hotel and determines how like it is to succeed in the long term. Your ultimate objective as a hotel or revenue manager is to continuously improve your total revenue rate so that you can develop a […]

Hyper-personalisation: the future of the customer experience

hyper-personalisation

Consumers these days are looking for connectivity and personalisation when they make a purchase. This is especially true when they make a reservation in a hotel. They want a tailored experience that meets their expectations in terms of wants, needs, and desires. And this, together with advancing technology, has led to a new era of […]

Data-driven strategy: a way to anticipate and react to market trends

data-driven strategy

When it comes to revenue management, using a data-driven strategy can have a huge impact on the level of success you achieve. Creating an optimised tech stack that provides you with valuable insights and access to the right AI tools for analysing this data can greatly improve your decision-making processes. This is mainly because you […]

Top 5 hospitality software tools that you need in your hotel in 2023

hospitality software

Using the right hospitality software tools can help you automate and streamline many of the processes involved in running an efficient and profitable hotel. It can help you adapt to industry trends and challenges and create the right strategy for revenue growth. And this is especially important in the hospitality industry as you have to […]

Attribute-based pricing: How to grow hotel revenue and improve customer satisfaction

attribute based pricing

Attribute-based pricing is becoming an increasingly popular pricing model in the hotel industry. It enables property managers to establish a range of rates in line with the features and services that a guest is willing to pay for. In this post, we are going to discuss what attribute-based pricing is, and how using an efficient […]

Inventory management: what it is and how to optimise it to increase your profits

inventory management

Effective inventory management controls are essential for running a profitable business. They help you keep a tight hold on your room availability levels so that you are prepared for anticipated occupancy levels and demand fluctuations. They are also a vital tool for creating a dynamic pricing strategy that attracts high-value guests to your hotel.  In […]

Revenue Management System (RMS): 5 benefits of using one in your hotel

revenue management system

If you are a hotel manager, then a reliable revenue management system is one of the most powerful tools in your data management toolbelt. It enables you to collect, manage and analyse all the data you need to make strategic decisions about your business. You can use it to manage your pricing strategies, create your […]

Annual budget: how to prepare it, and how it’s different from forecasting

annual budget

Your hotel’s annual budget takes into account a number of aspects. You need to calculate what your expenses are likely to be for the year and establish cost-cutting strategies so that your hotel is able to operate more efficiently. You also need to take into account your historical data, analyse demand behaviour, and identify market […]