Total Revenue Management: The Journey from Capacity to Profit Management

It is a fact that over the last years, we have seen a growing need for traditional revenue management (RM) to evolve from having sole emphasis in maximizing revenue mainly from rooms, towards adopting a more holistic view and focusing on achieving profit maximization across the whole organization.

 

 

 

 

 

 

Revenue management: a cost saver, not a cost centre

Any hotelier operating today without the support of an automated revenue management system is working at a competitive disadvantage. Advanced revenue management solutions allow hotels to better predict demand, price their product offerings competitively and achieve the optimal business mix for their property as a result.

 

 

 

 

 

 

Hotel property management systems – a work in progress

Property Management Systems (or PMS) play a vital role in the day-to-day operation of a hotel.  We rely on them to hold our availability and rate data, process new reservations, and store profiles of our guests, as well as of the companies and travel agencies with whom we work.

 

 

 

 

 

 

Blockchain holds promise, unknowns for hotel industry

Blockchain has become the new buzzword, particularly in the hotel industry, and most people unfamiliar with the technology at least know of its association with cryptocurrency Bitcoin. Blockchain is really just a database that stores information that its users don’t want to be changed when they add new information.

 

 

 

 

 

 

Revenue managers succeed with a series of right moves at the right time

Chess is a well-known game of analysis. When playing for the first time, players often lack the knowledge to think strategically. Over time they begin to weigh possible outcomes for every decision, even when it’s their opponents turn. The ability to understand and analyse all potential scenarios and outcomes will lead to more wins.

 

 

 

 

 

 

5 Signs Your Revenue Strategy is Behind the Times

Technology moves fast—no, make that really fast. Technology today analyses higher volumes of data, outputs purer insights and offers up more opportunities than ever before.

 

How digital personalisation is changing the face of hotel direct bookings

Digital technology is now the dominant force in driving more direct bookings and improving guest experience at your hotel. The prominence of consumers using digital technology and businesses implementing digital strategies has skyrocketed in the past few years.