Revenue Strategies

/Revenue Strategies

Revenue Strategies

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 ...

Rainmaker, a Cendyn Company, Has VP Lead Session on Measuring the Success of Group Business at Hotel Data Conference

Rainmaker | August 13, 2019

ALPHARETTA, GA. — August 13, 2019 — Rainmaker, a Cendyn company, today announced that Dan Skodol, the company’s vice president of revenue analytics, will be leading a session at Hotel Data Conference on August 15, 2019 at the JW Marriott in Nashville, TN. Dan will also participate in a panel on August 16 discussing The true price and value of loyalty at the. conference. The company is a Presenting Sponsor of the event. Skodol’s session titled, “Group Revenue Management – Measuring Success” will take place from 4:15-4:40 on August 15th and will highlight key metrics hoteliers can use to evaluate the success of a Revenue Manage...

Hospitality Financial Leadership: Service Takes Many Different Forms in Hospitality

David Lund | August 12, 2019

By David Lund "If Service is Beneath You – Then Leadership is Beyond You.” I cannot find an owner on Google for this statement, so I am going to claim it as mine. If someone already coined this phrase I will let it go, if not it is mine. The reason why is because it is the foundation for the transformation I experienced as a financial leader. It is also the basis for the work I do with hospitality financial leaders and their non-financial departmental managers. Let me explain to you what I mean and how these words are the very essence of creating a financially engaged team in your hotel. I worked inside hotels for more than 30 ye...

The Key to Profitability: Understand Your Demand Forecast

Dan Skodol | August 7, 2019

By Dan Skodol A hotel that is constantly jam-packed with guests is not automatically a profitable one. The goal of a successful hotel is not necessarily to achieve 100 percent occupancy, but rather to optimize revenue. And developing a way to more accurately forecast daily demand is a key operational challenge for hoteliers.1 Today’s hospitality landscape is characterized by increasing room supply and tight margins. In addition, stiff competition makes it imperative for hotel revenue managers to continuously adjust strategies to remain relevant. Predicting how many customers your hotel will have on any given night, anticipating the sa...

Revamp Your Casino Revenue Strategy With These Trends

Kacey Bradley | July 31, 2019

By Kacey Bradley New trends are continually disrupting the hospitality industry. Casinos can revamp their current reach and revenue strategy by understanding these trends and what they mean for the future of gaming. 1. Young Marketing If you're only marketing to baby boomers, you're behind on the times. Even a millennial approach to advertising fails to look ahead. Generation Z — those born in the mid-1990s to early-2000s — are about to make a huge impact on the business world. By 2020, they will account for 40% of all consumers, and together, they have $4 billion to spend at their discretion. Social media, including the use of in...

Maximize Hotel Profitability With Group Business

Matt Curry | July 24, 2019

By Matt Curry An analysis of the U. S. meetings and events market by PwC,1 revealed that the U.S. meetings industry generates approximately $30B – or just over one in five dollars – in hotel room revenue, while another $110B in revenue is generated from ancillary services such as food and beverage, event space, equipment rental, ground transportation, audiovisual (AV) support, and other services. Unfortunately, current revenue management practices tend to evaluate hotel group business performance based on the revenue per available room (RevPAR) index, which is not the best metric for determining a group’s overall profitability. There ...

Coast Hotels Selects IDeaS’ Automated Technology to Evolve Its Revenue Strategy

IDeaS | July 11, 2019

North American hotel chain chooses the industry’s leading revenue management solution to remove manual processes, provide greater connectivity and enhance overall efficiency Tweet This: @CoastHotels selects @IDeaS_RevOpt to enhance its revenue strategy and overall efficiency with IDeaS G3 RMS www.ideas.com/news MINNEAPOLIS—July 11, 2019—IDeaS announced today that after a thorough review of revenue management system (RMS) providers and products, Coast Hotels has selected them as its trusted technology partner and is implementing IDeaS G3 RMS at 20 of its Canadian properties. Coast Hotels’ selection process involved a full team o...

Rainmaker Announces New Website Launch

Rainmaker | June 26, 2019

ALPHARETTA, GA. — June 26, 2019 — -  The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, is proud to announce the launch of its newly redesigned website at letitrain.com The new comprehensive website brings together the Rainmaker platform of solutions into a more visual experience while providing customers and site visitors access to a wealth of content, webinars and learning resources. "We are excited to debut our new company website,” says Mike Cowles, Rainmaker CEO. “The new design and improved readability will be a much more enjoyable viewing experience ...

Rainmaker VP to Participate in Panel Discussion at HSMAI ROC

Rainmaker | June 13, 2019

ALPHARETTA, GA. — June 13, 2019 — The Rainmaker Group today announced that Dan Skodol, the company’s vice president of revenue analytics, will participate in a panel discussion at HSMAI’s Revenue Optimization Conference, which will be held June 18-19 at the Minneapolis Convention Center in Minneapolis, MN. The company is a Platinum Sponsor of the event. Skodol will take part in the panel discussion entitled, “Think Differently About Revenue: Building a Better Room Merchandising Plan.” In this session, a group of industry professionals will discuss potential benefits of dynamically yielding at a granular, room type level. They ...

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