Revenue Strategies

/Revenue Strategies

Revenue Strategies

Hotel 101: What Is GOPPAR and Why Does It Matter?

David Eisen | December 4, 2019

By David Eisen The hotel industry has long been obsessed with revenue. But if you care about a hotel’s operational health, relying on revenue alone only tells one chapter of the whole story. Imagine walking into a doctor’s office for your yearly checkup. She asks you to step on the scale and... you’re done. The doctor marks down your weight, compares it to what your weight was the previous year, and sends you on your way. That doesn’t make much sense, does it? Changes in your body weight may give the doctor clues, but they won’t offer much insight into the true state of your health. And the same goes fo...

Main Street Hospitality Group Chooses IDeaS for Time-Saving, Revenue-Enhancing Decision Empowerment

IDeaS | November 6, 2019

IDeaS selected for robust, scientific solution to automate tactical decisions and increase revenue Tweet This: Main Street Hospitality Group chooses @IDeaS_RevOpt to remain competitive with robust, scientific solutions that automate tactical decisions and increase revenue. More details here: www.ideas.com/news MINNEAPOLIS—Nov. 6, 2019—IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, announced today it will implement IDeaS G3 Revenue Management System (RMS) across Main Street Hospitality Group’s independent, New England-based hotel portfolio. With a fast-growing property count,...

Exactly How Much Extra Revenue Does a Revenue Management System Make? A Case Study of 9 Hotels

RoomPriceGenie | October 30, 2019

Summary RoomPriceGenie makes dynamic pricing software for small and medium-sized hotels. Anecdotally there was a lot of positive feedback on the performance, but then again, customer quotes are often cherry-picked. This study is intended as a step towards quantifying the benefit of using revenue management software such as that provided by RoomPriceGenie’s unique type of algorithm. By using the performance of all hotels that we had access to on one provider of PMS and channel manager software, it was possible to follow 9 very different hotels for an average of 5 months. The results showed an average revenue increase of 22%, with median i...

Quore CapEx Tool Is Helping Hotel Management Companies Save Time and Money

Quore | October 29, 2019

Franklin, Tenn. – October  29, 2019 – Budget season is over, and hotel owners/operators are breathing sighs of relief now that they’re through with the arduous weeks — maybe even months— of prepping annual budgets and taking care of a backlog of capital requests. Quore, an award-winning provider of workforce communication and engineering/housekeeping management technologies, has a tool that is helping multi-property management companies make better financial decisions by staying on top of all property-level capital requests. The CapEx app customizes and automates the flow of approved expenses for increased efficiency. The too...

IDeaS Releases Hotel Revenue Management Ultimate Buyer’s Guide

IDeaS | October 24, 2019

Step-by-step buyer’s guide empowers hotel business leaders to make informed technology investments today for a more profitable tomorrow Tweet This: @IDeaS_RevOpt premiered its Hotel Revenue Management Ultimate Buyer’s Guide. The guide provides key industry and business considerations to help hoteliers and revenue leaders make informed, smarter and, ultimately, more profitable decisions. https://go.rev.ideas.com/hotel-rm-buyers-guide-social MINNEAPOLIS—Oct. 24, 2019—IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, announced the release of its Hotel Revenue Management Ultimate Bu...

How Changes in Hotel Revenues Suggest Changes in Guest Preferences

Robert Mandelbaum | October 22, 2019

By Robert Mandelbaum From the high-tech preferences of Generation Z, to the experiential fondness of Millennials, to the health and wellness realities facing Baby Boomers, hotels continually adjust the amenities and services they offer to satisfy their guests. These adjustments are based on extensive consumer research, much of which has been published in the lodging industry trade publications. From the owner’s and operator’s perspective, the changes in guest preference manifest themselves on the hotel operating statement. Over the years, income from the variety of revenue-generating departments operated at hotels rise and fall as g...

The Rainmaker Group, a Cendyn company, Receives Top Honor in Gaming & Hospitality Industry Awards

Cendyn | October 21, 2019

Cendyn’s newly acquired revenue management firm recognized for excellence in partnership, innovation and transformation by the gaming hospitality community Boca Raton, Florida – October 21, 2019 – The Rainmaker Group, a newly acquired Cendyn company, brought home top honors at Gaming & Leisure’s 2019 industry award ceremony, securing the “Platinum Award for Guest Valuation,” the organization’s top accolade recognizing exemplary commitment to transformation, innovation and partnership. This is the highest honor given out by the organization, whose awards are selected by the Gaming and Leisure Board, comprised of property l...

IDeaS Revenue Solutions Surpasses 4,000 Hotels in 60 EMEA Countries

IDeaS | October 21, 2019

From Amsterdam to the United Arab Emirates, IDeaS leads EMEA’s hospitality industry, providing automated, revenue-enhancing pricing and forecasting solutions Tweet This: @IDeaS_RevOpt continues massive growth across Europe & Middle East. 4,000+ hoteliers across the region choose elegance & simplicity of automated solutions tailored to achieve major revenue gains. Details: www.ideas.com/news #RevenueScience #revenuemanagement #hotelmanagement LONDON—Oct. 22, 2019—IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, announced today it surpassed expectations for growth in Europ...

ProfitSword Adapts to Ongoing Market Growth With Appointments of Chief Operating Officer and Director of Technology

ProfitSword | October 8, 2019

Leading provider of data management solutions appoints John Crutchfield as COO and Sean Hoggard as DOT to further maximize expansion opportunities and innovation. ORLANDO, Fla. – (October 8, 2019) – ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has announced the appointments of John Crutchfield as Chief Operating Officer and Sean Hoggard as Director of Technology. The appointments come as a result of ProfitSword’s continued market expansion and increasing demand for its business intelligence and data management solutions. Crutchfield and Hoggard will both serve vital roles in f...

Hospitality Financial Leadership: How to Use 21-Point Flow Thru Inspection

David Lund | October 7, 2019

Just like your auto mechanic checks your car’s health you can completely review your hotel’s financial performance and get a clear reading on as many as 21 different flow thru performance points. Further to that you can even see what you need to do in most cases to correct the results! It’s what I call super revealing. And, the best point is you don’t need anyone’s help to do it because I’m going to give you the list! Flow thru is an essential concept to understand. If you are new to the idea read, my blog on flow first. https://hotelfinancialcoach.com Checking performance is a step-by-step exercise and we start at the most vit...

Remington Hotels Selects IDeaS to Enhance Revenue Optimization, Clarity and Control

IDeaS | October 3, 2019

From Napa to Key West, IDeaS unites Remington’s revenue management operations across its independent luxury hotels and resorts Tweet This: Remington Hotels has chosen @IDeaS_RevOpt to elevate its revenue strategy and unite its independent portfolio properties with advanced analytics www.ideas.com/news MINNEAPOLIS — Oct. 3, 2019 — IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, announced today it has implemented its G3 Revenue Management System (RMS) at Remington Hotels’ 12 independent luxury U.S. properties. After a thorough evaluation of leading RMS providers and solutions...

Managing RevPAR for Profits

CBRE | September 18, 2019

By Robert Mandelbaum and Bram Gallagher Ph.D. Per the name, the historical role of revenue managers has been to maximize revenue - specifically rooms revenue or RevPAR. RevPAR growth is achieved by increasing occupancy and/or average daily rates (ADR). Basic economic theory says that prices influence changes in demand (rooms occupied).   Depending on the date and market conditions, an increase in ADR typically tends to mute, or reduce, changes in demand. Conversely, a lowering of ADR will most likely stimulate demand and increase occupancy. Historically, revenue managers have adjusted ADR to find the best mix of occupancy and ADR that...

Sandman Hotel Group Partners With Duetto for Data-Driven Revenue Decisions

Duetto | September 17, 2019

Canada’s fastest-growing, privately owned hospitality company looks to implement a more modern tech stack that will enable the hotel group to deploy more innovative strategies. San Francisco, September 17, 2019—Sandman Hotel Group, Canada’s fastest growing hospitality company, has officially partnered with Duetto, a hospitality revenue platform with a best-in-class pricing application, to maximize profitability across its entire portfolio of hotels, resorts, and inns. Sandman, which operates The Sutton Place Hotels, Sandman Signature Hotels & Resorts, and Sandman Hotels, Inns & Suites, is implementing the technology firm...

Cendyn’s Middle Eastern Footprint Grows as FIVE Jumeriah Village Dubai Adds revintel® to Their Hotel Tech Stack

Cendyn | September 17, 2019

Boca Raton, FL. — September 17, 2019 — Cendyn, the leading innovator in CRM, sales and revenue strategy for the hospitality industry, is proud to announce FIVE Jumeirah Village Dubai has joined its sister property, FIVE Palm Jumeirah Dubai, in selecting Rainmaker’s comprehensive business intelligence solution, revintel®, to help gain market share through better hospitality analytics and greater insight into the most important aspects of their business. revintel® is a cloud-based solution which combines data from disparate systems to generate actionable insights designed to accelerate revenue growth. The business intelligence tool p...

Kalahari Resorts and Conventions Partners With IDeaS to Enable Total Profit Optimization

IDeaS | September 12, 2019

Seeking a technology provider to challenge and evolve its revenue strategy, Kalahari makes the switch to IDeaS G3 RMS Tweet This: @KalahariResorts chooses @IDeaS_RevOpt G3 RMS to evolve its revenue strategy and optimize profitability for its guest rooms and beyond. Located in fiercely competitive markets, Kalahari is looking to grow revenue performance and scope. Details: www.ideas.com/news #RevenueScience MINNEAPOLIS—Sept. 12, 2019—IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, announced today it will implement IDeaS G3 Revenue Management System (RMS) across Kalahari Resorts and...

Revenue Management to Revenue Strategy: The Changing Role of RM in Hotels

Kevin Duncan | September 10, 2019

By Kevin Duncan, Senior Director, Strategic Commercial Initiatives at The Rainmaker Group, a Cendyn company With U.S. hotel occupancy levels registering record-breaking performance, hoteliers must get creative when it comes forging a path toward higher rates and greater profits. And they increasingly look to their revenue managers to chart the course. As a result, we’re seeing a transformation of the revenue management (RM) role – from revenue manager to revenue strategist. REVENUE MANAGEMENT OF THE PAST Hospitality revenue management (RM) began in 1972 when BOAC airlines (now British Airways) began offering discounted fares to ...

SiteMinder Partners With HotelSwaps, Enables Boutique and Luxury Hotels to Trade Unsold Inventory

SiteMinder | September 10, 2019

Dallas, USA – SiteMinder, the global hotel industry’s leading guest acquisition platform, has launched a partnership with HotelSwaps, the world’s first hotel room exchange programme for independently-owned and operated boutique and luxury hotels. Under the partnership, hotels that use SiteMinder and meet HotelSwaps’ membership criteria can now trade their unsold rooms with other hotels using HotelCoins®, HotelSwaps’ proprietary reservation system and digital currency. The partnership is an opportunity for hotels to create an alternative value from otherwise unused rooms. By sharing those rooms with the global hotel community, ho...

Counterpoint: Direct Group Sales Over Indirect Platforms

Robert Post, Chairman and CEO, Knowland | September 5, 2019

More passive RFP platforms are not the answer. Intelligence-based Direct Sales drives 8X ROI for Hotel Group Sales. By Robert Post, Chairman & CEO - Knowland Knowland CEO Robert Post responds to recent articles/opinions that the $50 million investment by Marriott, IHG, Accor, and Hilton in a new Group Booking Platform has signaled “meaningful change” in the painful process of selling event space and room blocks to meeting planners. The new booking platform uses a self-reporting database of hotel group block inventory and meeting space to offer meeting planners an OTA-like environment to shop and book event venues at the lowest ...

Pegasus & Travel Tripper Expand Reach and Capabilities of Powerful Analytics Platform for Hoteliers

TRAVEL TRIPPER & PEGASUS | September 4, 2019

(NEW YORK) - September 4, 2019 — Pegasus & Travel Tripper, a leading hotel technology provider, is now offering its proprietary Distribution Analytics platform to all customers using RezTrip CRS and booking engine, providing enhanced data discovery capabilities to the entire company’s customer base. Pegasus Analytics, which launched in 2018 prior to the merging of the two companies, is a premier business intelligence platform designed for multi-dimensional data discovery, allowing hoteliers to explore their data in detail using rich, interactive visualizations. The analytics platform aggregates data from multiple sources, including...

Hotel BI: Applying Data Analytics to Real-Life Situations / Len Wasserman

Len Wasserman | August 28, 2019

By Len Wasserman, Vice President, Customer Success at the Rainmaker Group – a Cendyn Company When it comes to analyzing your data, relying on manual methods – i.e. using Excel spreadsheets or Google Sheets – takes too much time and is often inaccurate, fraught with human error. Hotel owners looking to accurately and efficiently improve business performance should consider implementing an automated business intelligence (BI) solution.1 BI reporting and analytics quickly integrate data from your property management system (PMS), central reservations system (CRS), revenue management system (RMS), sales and catering systems, as well a...

Pro-Active Prospecting Is the Only Way Hotel Sales Staff Can Do Their Most Important Job: Fill in “Gap” Dates

Doug Kennedy | August 22, 2019

By Doug Kennedy In the current market, most hotels, resorts and other venues are experiencing a significant softening in group demand. However, this does not necessarily mean that hotel salespeople are fielding fewer inbound leads, but rather multiple leads are coming in for dates that are in peak demand for transient and for other group business. Here in the era of electronic RFP’s, where one piece of business generates a proposal request for 8, 10 or more properties, hotel salespeople are perhaps busier than ever simply keeping up with what often feels like “lead spam.” Unfortunately though, the time spent responding to electron...

Rainmaker, a Cendyn company, Ranks on Inc. 5000 List of America’s Fastest-Growing Private Companies

Cendyn | August 21, 2019

Boca Raton, FL. — August 21, 2019 — Cendyn is proud to announce that The Rainmaker Group, a Cendyn Company, has ranked on the Inc. 5000 list of the fastest growing privately held companies in the U.S. for 2019. This marks the eighth year for Rainmaker to achieve this honor since 2010. With a continuously expanding customer base and an industry leading platform of revenue & profit solutions, Rainmaker continues to rank on the Inc. 5000 list due to its impressive growth in the hospitality space. Founded in 1998 by Bruce Barfield and Tammy Farley, Rainmaker was recently acquired by Cendyn. As the leading innovative cloud software a...

J Hospitality and Development Implements ProfitSword Portfolio-Wide to Streamline and Enhance Data Management, Forecasting

ProfitSword, LLC | August 20, 2019

Development and management company overseeing collection of independent hotels implements ProfitSage to maximize operational and decision-making efficiency. NEW ORLEANS – (August 20, 2019) – ProfitSword, hospitality’s premier developer of business intelligence software and data integration services, has announced the implementation of its ProfitSage operational and financial reporting solution by J Hospitality and Development LLC. A New Orleans-based development and management company that focuses on creating innovative solutions for hospitality, residential and commercial properties, J Hospitality now leverages ProfitSage to ensure ...

RM Strategies & Best Practices for Pre-Opening Your Property

Dan Skodol | August 20, 2019

By Dan Skodol, Vice President of Revenue Analytics at Rainmaker, a Cendyn company Despite reports of a weakening global growth rate through 2020,1 research from IBISWorld shows that the hotels and motels industry has outperformed the broader economy for the past five years, and total industry revenue so far this year has reached $206 billion.2 Globally, there are 100,535 businesses, with a slate of new project openings continuously being added to the lodging landscape. We saw an increase of 669,460 rooms in 2018 in the U.S. alone.3 Whether renovating a building, buying an existing hotel, or building from the ground up, a hotel owner is ...

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