Like a first-class seat on an airplane, dynamically optimizing upgraded room classes can unlock significant revenue potential. As an industry what best practices could be applied to maximize the RevPAR growth opportunity this presents? I recently brought this question to the HSMAI Revenue Optimization Rising Leader Council for collaboration.
Discover the significance of pickup and pace in hotel revenue management. Learn how optimizing these factors can boost your hotel's revenue.
These are the essential features to consider when choosing a benchmarking tool to enhance your hotel management and improve performance.
With this new cloud-based solution, hotels will be able to seamlessly manage their pricing strategies while accessing real-time data and insights that are crucial to maximizing their revenue potential.
I love to travel. Over the years I have travelled on my own for business, with friends, with my husband, and with my family. In each of those instances, my travel plans started with what I needed most to make my travel comfortable in keeping with my budget.
The idea of a competitive set is not new. A quick Google search will find you hundreds of definitions and step-by-step guides with a very similar train of thought: look at the quality of the hotel (star rating & reviews), the location, and the facilities (including meeting rooms and on-site services).
Total revenue management is not a new concept, but it is one that hoteliers will embrace more for the years to come. To implement it, though, we first need to define it. What is total revenue management?
Every hotel faces challenges. Whether it be difficulty finding and retaining staff, low demand periods due to seasonality, group wash or managing the business mix, hotel management can be an uphill battle. But small hotels located in large cities face unique challenges as well.
Hotel revenue managers are constantly updating strategies for selling different room types to take advantage of opportunities such as incremental revenue from upgrades to guestrooms before and during check-in.
Integration allows joint customers instant access to OTA Insight rate data within the STAAH platform