HOTEL BUSINESS REVIEW

October FOCUS: Revenue Management

October 2021


Of all the departments within hotel operations, Revenue Management may have been the hardest hit, due to the pandemic. The logic goes - no revenue, no need for revenue managers - so many industry professionals were furloughed. If business rebounds in 2021, as expected, then hotel management will have to determine when prevailing occupancy levels justify bringing back their revenue management team. Also, the pandemic seems to have exposed some weaknesses in the traditional RevPAR models. There is a growing understanding that it is no longer sufficient to use a "revenue per available room" model; instead, hotels are adopting a TRevPAR model (total revenue per available room). This model recognizes that revenue streams from other departments are just as important as the revenue gained from rooms. As a result, hotels are looking at ways to monetize any and all hotel offerings - from dining outlets and spas to outdoor function spaces and local partnerships. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.  


Run Date:   10/03/2021 - 10/30/2021
Editorial Deadline:   Wednesday, September 01, 2021
Advertising Deadline:   Wednesday, September 08, 2021
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Coming up in August 2021...

Food & Beverage: Necessity Breeds Invention


Hotel restaurants were not immune to the devastation that Covid caused in the food & beverage industry last year. In order to survive, many operations expanded their services to include packaged food sales, prepared meals to go, mini pop-up grocery stores, meal kits, takeout, and delivery to make up for lost revenues. These hybrid operations have become increasingly popular in hotels because they maximize limited F&B space and also attract local business. In those restaurants where customers are willing to dine in, there is a greater emphasis on safety protocols. Tables and chairs are spaced far enough apart to provide a sense of safety and comfort between parties. There are also stricter cleaning and disinfecting practices occurring in between dining encounters. In addition, there is a greater emphasis on outdoor dining with its offer of fresh air. The August issue of the Hotel Business Review will report on what some leading hotels are doing to manage their F&B operations in the wake of the pandemic.