The demand landscape has changed considerably over the past 18 months, requiring operating teams to revisit all aspects of revenue strategy and goals to not only capitalize on short-term opportunities, but also position for recovery. This feature outlines key topics for consideration, as owners and operators collectively plan for the future, while contending with current operating realities and an ever-evolving business environment. READ MORE

Throughout the 2000s the number of hands in our hotels has increased with new OTAs, Revenue Management Software (or RMS), and for some Brand Control. A question all hoteliers should be asking themselves is: Is 100% of my hotel inventory available to sell 365 days of the year? The answer is unequivocally "No", regardless of brand affiliation, franchise, or independent. READ MORE

During COVID-19, ownership groups and management companies took organizational decisions that impacted the effectiveness of Revenue Management. As business ramps up and we observe changes in the segmentation and channel mix, we need to quickly shift gears, and not just to how it was before. A deep dive in our labor model and our approach to Revenue Management systems is key to effectively support the discipline and increase hotel revenues on the long term. READ MORE

This budget will be the starting framework for our action plan for the entire year, and we want it to be as proportionate as possible to the amount of revenue risk. If you are diligent to do your market research, quantify implications of your revenue risk, and pre-plan for contingencies, you will set your hotel team up for success for the year ahead. READ MORE

The pandemic has forced us to fiercely restructure our organizations. To streamline revenue processes with the downsized staffing, maybe the time has come for the hospitality industry, to seize the day and address those much-needed innovations we've been muttering about for years. Is now the time for revolutionary changes in how we structure revenue optimization in hospitality? In a word, YES! READ MORE

Sporadic demand has resulted in a lack of confidence in historical demand-based pricing models and occupancy trends. This article explores how revenue managers can develop an understanding of future demand. Future demand hinges on understanding guests and understanding forces driving changes in market demand. Can predictive analytics be used to predict future business levels? READ MORE

The slow and steady US hotel recovery is well underway and the rebuilding of teams will gain momentum in the coming months. The supply of must-have progressive revenue strategy leaders for the new industry landscape will likely be less than the demand. However, there are a few proactive solutions hotels and resorts can take to get ahead of this key leadership position shortage in the coming months as they recalibrate and rebuild their teams for 2022 and beyond. READ MORE

Since March 2020, hoteliers have been adapting to dynamic demand patterns and customer behaviors. The crisis has led to savvy hoteliers employing a new-era revenue management strategy, which is likely to endure after the virus fades. The pandemic has prompted hoteliers to analyze virtually all aspects of their businesses in order to run as lean and profitably as possible. READ MORE

Since Covid-19 has intensified the need for changes in customer and business relationships, this provocative article by Holly Stiel explores the valuable relationship between businesses, their customers and their teams. Learn how to be the employer of choice through understand the importance of emotional labor in order to win the hearts/minds of your team. READ MORE

After months of travel hesitancy, historically low occupancy rates, a remote workforce, and gale-force challenges, calmer skies are on the horizon for the hospitality and travel industries. While this economic distribution tested even our most veteran industry leaders, we've weathered the storm ready to innovate, improve and change the ways we do business. Necessity, after all, is the mother of invention. READ MORE

Good revenue management defines a property's bottom line. A profit management strategy determines a property's net revenue. Revenue management in hotels is a practice that has evolved significantly in its relatively short history, demonstrated great success using inventory, capacity and pricing to 'manage' revenue and probability, although hotel revenue management doesn't evolve fast, strategies aimed at improving it develop in tandem with modern business and technological trends. READ MORE

This article focuses on the trends regarding hotel revenue management in the current lodging workplace. Creation of value and the skill set needed to be successful in revenue management will also be discussed. Finally, the career pathways in the lodging industry for revenue management analysts and managers and they operationalize revenue management as decision-making tools will be discussed. READ MORE

The COVID-19 pandemic unleashed a wave of uncertainty, leaving hotel properties in operational limbo and making forecasts borderline useless as the delta variant continues to disrupt the global economy. As payroll costs and overhead continue to squeeze already-thin margins, carefully curating big data to aid revenue management can help hotels stay in the black. READ MORE

The pandemic has been a great equalizer. Regardless of the size of the business, every full-service concept is struggling to rebuild guest traffic, fill positions, and manage inventory and labor costs at the unit level. In this article we provide a few effective tactics of successful independent restaurateurs who are driving sales and reining in costs with agility, creativity, and a losing-is-not-an-option mindset. READ MORE

What a difference a year makes! A year ago, at this time our industry was at rock bottom due to the impact of the Corona virus. As we make our way out of our darkest times some segments of our business are flourishing while others are a little slower to turn around. Is there a way that Hoteliers can leverage these segments to drive more revenue? Let's take a look. READ MORE