Bleisure, the blending of business and leisure when it comes to travel, is not a new term. According to a Wikipedia page on the subject, the term was first published in 2009. But the term has become popularized more recently through adoption by digital nomads,...
There may have been a time where revenue management was a sort of day-to-day, “let’s just change rates and put minimum stay restrictions on” kind of activity. We are now operating in a new era. For competitive hotels, old school revenue management...
Outsourcing allows organizations to delegate important work to third-party providers who have expertise in a particular field. When it comes to hotel Revenue Management, some organizations may not yet realize the benefits of outsourcing and have maintained the...
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...
