Modern-day revenue management already relies on substantial number crunching, including sophisticated predictive analyses that help determine the optimal room mix and pricing-with the goal of achieving maximal RevPAR. Now, advanced metrics are pushing the revenue management envelope even farther, focusing on determining the complete costs of acquiring any given reservation. At the same time, advanced operational benchmarks are giving revenue managers, property general managers and the entire executive team a better handle on whether a given quoted rate is supportable in the overall quest for profitability and return on investment. READ MORE

Balanced Scorecards have been a widely used strategic management system, namely in large-scale corporations and institutions in the last 30 years. They were designed to align short-term practices with long-term vision and strategies. That alignment is a kind of cement between the corporate and operations level in any organization, holding the two levels together and increasing the organization's efficiency and effectiveness. Transparent and results-driven reward systems come as a consequence. This methodology is now ripe to go into new depths, by applying it to data-intensive and reward-prone operations, at a tactical and day-to-day level. Revenue Management qualifies perfectly! READ MORE

The amount of internal and external channels a hotel revenue manager has to juggle to make a profit is no joke these days. As Marriot, Hilton and Intercontinental Hotels Groups advance management tools to battle this constant operational nightmare. The franchisors need to start connecting systems that will save on expenses. Managers must manually check these systems daily and it's a daunting task to complete this all in a day. Why isn't there a computer program that will connect all revenue management tasks automatically without switching screens to increase productivity & profit? Let's take a look... READ MORE

It's hard to imagine a time when revenue management wasn't the key to running a successful hotel. As a profession, revenue management is continuing to develop and evolve at a frantic pace with Occupancy Rate, ADR and RevPAR as the most widely used key performance indicators and measures of success. However, none of these metrics actually measure business success. Profit is the reason why investors build hotels. This article explores how revenue management is evolving to include a focus on developing revenue strategies such as Gross Operating Profit Per Available Room (GOPPAR) to measure business success. READ MORE

Rooted in history, our nation's capital is full of character and charm, and a focus on preservation is the norm rather than the exception. That's why the design for Columbia Place, a recently completed, mixed-use development combining a dual-branded hotel, residences and retail with historic buildings in Washington, D.C.'s Shaw District, didn't need to invent a new sense of place. Design and architectural firm COOPER CARRY in collaboration with tvsdesign instead built upon its origins. Striking an artful balance between "then" and "now", Columbia Place blends centuries-old structures with modern living to honor history while also welcoming the next generation. READ MORE