Total Revenue Management is growing in popularity for discussion, but there remains some ambiguity as to what this really means. Some discuss the application of revenue management principles to ancillary departments like F&B, or a narrower application of simply...
Revenue Managers these days have a tough job. Often not fully understood by their colleagues and provided with limited resources, these individuals are expected to have answers for financial top-line performance, dictate or influence guest policies, be a super user...
In my 30+ years in the hotel industry, hotel forecasting has rarely been “in the bag”. Achieving a hotel forecast is one thing. Achieving it with a high degree of accuracy is entirely different. Many of us have achieved forecasts at a high level. Revenue Managers may...
Isn’t it time the OTAs fix their Member Rates? History behind Member Only Hotel Rates It started in February 2016, when Hilton made a big splash by announcing that Hilton Honors™ membership was more than just earning points and free nights. Membership in the loyalty...
10 steps to a secure marketing strategy in uncertain times “Tactics is knowing what to do when there is something to do. Strategy is knowing what to do when there is nothing to do.” – Savielly Tartakover, Chess Grandmaster It’s very hard to see or think...
The 5 Rs of Revenue Management for Ultimate Hotel Profitability The 5 Rs of Revenue Management Originally, the definition of Revenue Management was selling the right product to the right customer at the right time for the right price. Over time, strategies have...
