The idea of a revenue manager gazing into the dashboard equivalent of a crystal ball and basking in accurate demand forecasts for every night of the year across every guest room type and every guest...
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Ask any hotel revenue manager of a certain age what it was like for them to do their jobs before the advent of next-generation revenue management systems. Few, if any, will wax nostalgic about “the...
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The hospitality industry is a highly competitive, ever changing market. Consumers have more options today than ever before when choosing a property for business or leisure travel. With so much at...
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Group business fills an important role in many hotels, helping to increase revenues during shoulder seasons and economic downturns, and creating compression that allows hotels to fill rooms with...
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In general, hotels have two primary types of business: transient and group. While the vast majority of hoteliers have some form of a revenue management (RM) strategy in place to profitably manage...
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Just like the engine is to a car – powering it and getting you where you need to be – your revenue management forecast powers your entire system and its outputs. Forecast accuracy translates into...
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In its simplest form, a revenue manager’s job is to develop a pricing strategy for a hotel that will boost revenue. A critical first step in creating a revenue management strategy is to forecast...
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