Tap into the hidden revenue in your room inventory
There are innumerable strategies to combat the self-inflicted wounds of price wars, but one of my
favorites involves re-evaluating the price/value relationship of room inventory...
How to choose the right RMS
Regardless of the state of the economy, revenue is top of mind for all hoteliers. Revenue-management systems can be a valuable key to
unlocking greater performance, but there are a number of considerations before a system is installed...
The great revenue-management debate
As rates continued their downward plunge during the middle of last year, market share versus profit quickly became a hot topic of debate...
5 questions every revenue manager should be asking
While presenting at the Hospitality Leadership Forum in early November, Mark Lomanno, president of research firm Smith Travel Research,
made a statement ominous enough to send chills up the spines of revenue managers everywhere...
Market share vs. profits-an oxymoron
Webster's Dictionary defines "oxymoron" as "a combination
of contradictory or incongruous words." And recent comments
by some industry experts suggest the following two
statements are mutually exclusive...
Revenue management meets social media
Do you ever contemplate the dizzying catalog of online travel agencies and deal aggregation sites and throw up your hands up at the very prospect of getting a handle on
the whole thing?...
Upsell: Capitalize on the most profitable incremental revenue
During these difficult economic times, we continue to see price wars in almost every market, even though reputable studies show discounting doesn't increase volume
as much as it decreases revenue...
Winning the price war
During the past 12 weeks, I've worked with hotels in 11 different cities in the U.S., Canada and the Caribbean. City after city, the question
remained the same: "What do I do when my competitor keeps dropping price?"...
Rate resistance, so now what? 'Part 2'
OK . let's say you've tested for rate resistance, and it's there. And you've had success with adding value and well-fenced promotional specials. But you're running out
of options. Now what?...
Total revenue management and the downturn
In the past eight weeks, I've spoken at three different conferences as well as a widely broadcasted Webinar. At every event, I've been asked: as a revenue management
consultant what would I recommend to deal with the current economic downturn?...
Alberta Hospitality -
Revenue Management - A business process approach
As hoteliers, we all practice some form of revenue
management on a daily basis...
Bottomline-Ready for RMS?
Knowing when a revenue management system is right for your property...
Market Share Forecasting -
A valuable exercise or not?
Regardless of our 24/7 mentality.there are only so many productive hours in a day. So if I'm going to advocate yet another Revenue Management process, I'd better have a
five "Must Dos" to raise room profitability
The industry is in a healthy recovery. Nevertheless, you might find
yourself asking, "The hotel market is finally booming; so why is
everyone's revenue up but mine?"...
Strategic Pricing- New rules for an age-old game
I once worked for a General Manager who
would frequently comment that "nothing has changed in the
hotel industry since there was no room at the Inn in
mysteries of market indexes
In this day and age we have access to an extraordinary amount of market intelligence.
However, the reality is that although we have this information, it does not mean that we
understand it or are able to interpret it...