articles - optimize revenue
AugustResearch in Action for Revenue Optimization
Overcoming Barriers to Total Revenue Management
JulyRevenue leaders: Data should tell a story
Speaking with Hotel News Now in conjunction with HSMAI’s recent Revenue Optimization Conference, a panel of revenue leaders at various hotel companies said they’re putting a lot of effort into translating different data streams to help themselves and their stakeholders like owners to understand what’s really going on.
Hotel distribution in need of tech innovation
Speakers at the Revenue Optimization Conference said distribution in the hotel industry is still behind the curve in terms of technology.
Revenue disciplines, expectations evolving in hotels
As automation and innovations make the day-to-day rate maintenance part of revenue managers’ jobs less of a focus, those who work in the revenue discipline are expected to have more of a strategic focus, according to experts. The shift is also growing the number of possibilities for people who work in the revenue field.
MayWhat Do Asset Managers Want From Hospitality Sales, Marketing, and Revenue-Management Professionals?
The Great Debate
Humans or AI? Loyalty programs or bust? HSMAI will explore both sides of these hot-button revenue-management issues in a general session called “The Great Debate” at the 2018 Revenue Optimization Conference (ROC) in Houston on June 19–20.
How hoteliers can navigate constant distribution change
As the traditional online travel agencies grow, several new entrants have emerged in the wide world of hotel distribution. Some expert sources help sort through the crowded field to offer insights.
The Career Path of a DRM
Takeaways from a recent HSMAI Revenue Management Advisory call focused on how to keep DRMs interested and engaged.
AprilRevenue management and marketing: A powerhouse duo
To be a top performer in today’s competitive hospitality landscape, revenue management and marketing must play a leading role in your hotel strategy.
Freitag’s 5: February brought growth, a game-changer
Tactics, Strategy, and Leadership at ROCET
MarchExit Interview With Two Roads Hospitality’s Maureen Callahan
The Intersection of Revenue Management and Digital Marketing Analytics
Hoteliers are under increasing pressure to extract knowledge and insights from vast amounts of data in order to enhance business strategies and optimize the customer experience. It’s not news that the better the collaboration between marketing and revenue management, the more profitable and successful the enterprise. But what does this really mean when it comes to data and analytics?
A Capitol Idea: No longer just a bill, what effect will the new tax law have on your business?
Headwinds As We Sail Into a Strong 2018
FebruaryHow to prepare for slower growth in 2018
Signs indicate rate and RevPAR growth won’t be as strong as in past years, so hoteliers need to consider different ways to cut costs and push profits.
Why rate management is not revenue strategy
Top Trends From the Top 25: Revenue Optimization
We asked HSMAI’s Top 25 Extraordinary Minds in Hospitality Sales, Marketing, and Revenue Optimization— who will be honored at the 2017 Adrian Awards gala in New York City on February 20 — to tell us where they see innovation happening in the future. Here’s what four of them had to say about revenue optimization
January4 Must-Do Hotel Revenue Management Strategies for Independents
Tracking Acquisition Costs in the Real World
Industry experts look ahead to 2018, recap 2017
The 2018 Outlook For Sales, Marketing, and Revenue Optimization Professionals
DecemberHotel revenue managers are underpaid, experts conclude
Based on new research on revenue manager compensation at different levels, experts believe the discipline is underpaid in the hotel industry.
NovemberBridging the Revenue Management Talent Gap
OctoberHow Important Is It to Refresh Your Brand?
The stay experience is pivotal to the success of a hotel. To ensure their hotel has a fresh appeal to travelers, hoteliers must consider branding right along with design and marketing.
Disaster Planning…from the Revenue Management Perspective
September4 questions for Lily Mockerman, Total Customized Revenue Management
AugustFreitag’s 5: US July numbers might tease cycle’s end
The end of the cycle could be closer than you think, if how U.S. hotels performed in July is any indication.
Strategic Thinking and the Chief Revenue Officer
JulyHotel revenue managers no longer ‘behind the scenes’
Revenue-management executives talk about the growing importance of their discipline and how its interactions with sales and marketing have shifted since the early days.
How revenue managers balance unbundling
Finding new sources of revenue at hotels can mean charging for various things that were once free. Revenue managers share their perspectives on how this is best accomplished.
5 takeaways on the state of revenue management
Experts shared insights on revenue management at the recent HSMAI Revenue Optimization Conference in Toronto.
JuneFreitag’s 5: US RevPAR growth continues unexpectedly
U.S. hotel RevPAR grew for the 86th consecutive month in April, which raises the question: Where’s the bottom?
MayMore Than Just a Bed: Hotels and Edge Strategy
HSMAI Revenue Optimization Conference (ROC) Americas speaker Alan Lewis discusses how hospitality companies can apply Edge Strategy through personalized offerings and the sale of ancillary services to hotel guests.
A Steal of a Deal. Really?
HSMAI’s Digital Marketing Council recently discussed the Tnooz article that asks, “Are OTA commissions actually a steal of a deal?” The Council agreed that, while the article itself seriously oversimplifies the issues involved in hotel distribution today, as with most things, there’s a time and a place for OTAs (and other distribution partners). Their overarching advice is to use all partners carefully and strategically, or your “Deal” could easily turn into a “Steal.”
AprilBranding Today: A Sum of Parts
Tiffany Braun, Regional Director of Sales & Marketing for Two Roads Hospitality, and member of HSMAI’s Marketing Advisory Board talked with Jeff Tomczek, Director of Branding for Two Roads Hospitality about the aspects of branding that have become increasingly important for hoteliers in today’s environment.
Economy and midscale revenue management takes finesse
A relative lack of sophistication can make revenue management more difficult for economy and midscale hotels, but sophisticated rate strategies are effective for those who do prioritize them, sources said.
Revenue Management at Home: Make it a Dream, Not a Nightmare
While RM from home can absolutely be effective and successful, it’s not for everyone, and it’s not right for every hotel. When used effectively, it can open up your property to more well qualified candidates, increasing revenue potential for your hotel.
MarchOwners: Distribution, tech key to maximizing profit
Successfully managing online travel agencies and the evolving technology platforms in the hotel industry are essential to making profits that can lead to executing exit strategies.
Hotel Sales: Why Do Our Rates Change? We Discount When It's Slower! | By Doug Kennedy
Every day your hotel sales, reservations and front desk colleagues are fielding questions from both prospects and guests regarding why it is that the rates are so much higher during certain periods as compared to other dates.
5 ways hotels compete with OTAs for bookings
Travelers are more tech-savvy with their hotel searching and booking habits, and hoteliers need to keep an eye out for what’s to come for distribution.
The direct booking trend: What is it really about?
As Lennert de Jong of citizenM writes, if we want to better understand the debate, we need to dig deeper into this heated subject and shine some light on it from different angles.
FebruaryThe next era of hotel distribution: Connecting supply and demand in the moments that matter
Because a hotel’s inventory is perishable, the core of the hospitality business, according to Google’s Javier Delgado Muerza, is to manage occupancy in such a way that revenue is optimized. To do this effectively, you’ve got to connect with travelers in a relevant way in every moment that matters, he says.
JanuarySix tips for a data-driven 2017 | By Kelly McGuire
As we approach a year that will very likely be marked with more uncertainty, increased competition from all directions and even more pressure to perform, many hospitality executives are making a New Year's resolution to take better advantage of their organization's data. With all of the buzz and hype around data and data science, it's easy to resolve to \"get more of it\". It's harder to actually do it.
Lowered Expectations for Hotel Performance: Real…or Normal Skepticism?
Is the growing trend of lowered performance expectations real? Is a downtown looming? Or is it just a normal cycle of skepticism? For most HSMAI’s Revenue Management Advisory Board members the glass is half full on this issue.
Research: Hotels hold pricing power amid Airbnb growth
New research from STR shows hotels in 13 markets across the globe have largely maintained compression nights and rate growth even as Airbnb supply has jumped significantly.
JulyMidyear forecast: Will a slow start continue? | By Robert Rauch
At Woodstock, Neil Young approached the microphone and said, \"This song starts out slow and fizzles out altogether.\" Well, this year started out slow but it will not fizzle out. Contrary to those who feel the party is over, 2016 will continue the trend line of 2015 albeit with a somewhat muted feel and a slow start. This summer will jump with average rate growth due to unprecedented leisure demand stimulated by low gasoline prices and that American mindset: \"It is my birthright to travel and visit my friends and family! \"
DecemberProfile of the New Revenue Manager
NovemberWhy Jumping On The Discounting Treadmill Won't Get Your Hotel Bookings In Shape | By Clare Riley
There are more than 1.2 million articles to search through on Google dedicated to helping consumers find 'cheap hotels'. Discount websites such as Groupon churn out bargains on a daily basis and with more than 900 million deals sold to date, it's clear that consumers are hungry for a discount. According to SaleCycle, today's travellers visit an average of 38 websites before they make their decision to book, and 37% say they abandon the booking process because they believe a cheaper offer exists elsewhere.
OctoberAssessing the threat of disruptors
Potential disruptors to the hotel industry pop up all the time, and hoteliers must determine first which ones are actual threats and then how to handle them.
How to combat last-minute cancellations
Last-minute cancellations can cost hoteliers time and money. Here are some ways to maintain each booking.
MayHow to win in hotel revenue management
Now is the time to audit your revenue management practices. In so doing, you will be preparing your company for the eventual downturn.
AprilAsset managers share how to drive rate, group
How to push rate, grab group business and leverage technology were among the topics debated by a panel of hotel asset managers during the Hunter Hotel Conference.