How “Revenue Management” influences the organization and how it helps coordinate common goals

How “Revenue Management” influences the organization and how it helps coordinate common goals

What is Revenue Management? Revenue management has been a significant business process that altered the travel and hospitality industry since its foundation in the early 1980s. Revenue management needs analysts with detailed market knowledge and advanced computing systems that analyze market behavior and capture revenue opportunities with the help of different useful techniques. This business […]

Revenue Management Glossary

Revenue Management Glossary

If you are new to Revenue Management you might quickly get overwhelmed by the amount of jargon RM´s use on a daily basis. You needn’t worry! In this article we will be covering the ABCs of Revenue Management’s most important terms. **Average Daily Rate (ADR) or Average Room Rate:** A measure of the average rate […]

The Battleground for Customers

The Battleground for Customers

Technology and economic growth have contributed to many changes in the life of hoteliers. Technology has contributed to a massive increase in the reach that hotels have over the past 20 years. Previously hotels were unknown outside their local community and could only gain reach through traditional Travel Agency listings plus they were using fixed […]

New strings and attachments

New strings and attachments

Surviving on your own has always been and will always be difficult, but being an Independent hotel has never been as easy as it is today. Before the rise of technology and technological companies, only hotels that belonged to big multinational hotel chains were sure of survival in the uniquely seasonal hospitality industry. Hotels belonging […]

How To Create a Budget for Hotels

How To Create a Budget for Hotels

This is the time that GM’s, Revenue Managers and Sales hate the most as it is the time for budgeting. A lot of hours will be spent in meetings analyzing data late into the night. This is when the GM gives you the speech that he would like to see an exponential growth because the […]

How To Diagnose the Revenue Management Culture in Your Hotel

How To Diagnose the Revenue Management Culture in Your Hotel

Since Revenue Management has not been around for that long, many organizations are still working on creating a Winning Revenue Management Culture. Hotels will only start seeing bottom line results when the Revenue Management mentality becomes systemic and second nature to all of the employees in the organization. Everyone involved should have a common goal, […]