Direct Booking Growth Tips for the Back Half of 2024
Adam and Larry Mogelonsky | March 27, 2024
Amadeus and Duetto Expand Collaboration
Duetto | March 12, 2024
Revenue Strategies
Maximizing Your Relationship With OTAs
Tim Lee | January 13, 2020
By Tim Lee The relationship between hotels (particularly major international brands) and Online Travel Agencies (OTAs) may sometimes seem an uneasy alliance. Major hotel companies, such as Hilton, Marriott and IHG, are adding policies on price match guarantees to encourage direct bookings and detract from the perceived value of OTAs. Meanwhile, OTAs push even harder for competitive pricing and invest hundreds of millions of dollars in Search Engine Marketing (SEM) to increase their market share. Due to acquisitions and mergers over the last two decades, most OTA brands are a part of, or work with the two largest players in the space: Bo...
IDeaS Named Best Revenue Management Software and People’s Choice Winner in 2020 HotelTechAwards
IDeaS | January 8, 2020
Based on hotelier reviews rating ease of use, ROI, implementation and support, IDeaS maintains its leading position on Hotel Tech Report Tweet This: @IDeaS_RevOpt has been named 2020’s Best Revenue Management Software and People’s Choice Award winner by @hoteltechreport www.ideas.com/news #HotelTechAwards MINNEAPOLIS—Jan. 8, 2020—IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, has been named 2020’s top-rated revenue management software and People’s Choice Award winner by Hotel Tech Report. Compiling real customer data and unbiased reviews from nearly 25,000 hoteliers wo...
Hotel Revenue 101: What Is ADR and How Does It Affect the Bottom Line
HotStats | January 6, 2020
Average daily rate (ADR) is one of the most popular revenue metrics in the hotel industry. A key contributor to revenue per available room (RevPAR), it allows hoteliers to zoom in on how much a room is selling for on average and, typically, RevPAR growth driven by ADR is more profitable than RevPAR growth driven by occupancy, since the latter increases the variable costs associated with servicing additional rooms. Driving rate, meanwhile, doesn’t have a cost attached to it, and, essentially, results in pure profit. However, hotel ADR absolutists beware: This key performance indicator (KPI) can be deceiving. Too much emphasis on ADR is li...
Texas Western Hospitality Partners With ProfitSword to Gain Seamless Access to Data Management and Business Intelligence Abilities
ProfitSword, LLC | December 17, 2019
Hotel Management company maximizes business planning efficiency by leveraging ProfitSage, ProfitPlan and ProfitWizard to obtain real-time granular insight on all financial performance ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has been credited with streamlining and maximizing the financial and strategic business planning abilities of Texas Western Hospitality since its implementation of advanced data management solutions: ProfitSage, ProfitPlan and ProfitWizard. A third-party hotel management company, Texas Western Hospitality now possesses the real-time analytical insight needed...
Myrtle Beach Seaside Resorts Selects IDeaS G3 RMS to Optimize Revenue Across Seven Properties
IDeaS | December 12, 2019
Seaside Resorts implements IDeaS’ automated, demand-driven intelligence to streamline and optimize its revenue management processes 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 Myrtle Beach Seaside Resorts’ independent seven-property portfolio. Looking to improve a labor-intensive, manual revenue management process, Seaside Resorts will integrate IDeaS with Maestro’s rate rules engine, as well as complement its NAVIS system, to enhance its total connected hotel technology ecosystem. Automat...
Beonprice Redesigns Hotel Quality Score to Improve Revenue Strategies
Beonprice | December 11, 2019
Cutting-edge technology pairs traditional revenue management tools with new Hotel Quality Index™ to boost hotels’ REVPAR 11 December 2019: Challenging the adage of ‘quality over quantity’, travel technology company Beonprice (www.beonprice.com) has redesigned the hospitality industry benchmark assessment to help hoteliers better qualify rates and competitor set in their revenue management strategies. The new Hotel Quality Index™ (HQI™), developed by Beonprice, is a unique way of assessing a hotel’s reputation and market position to improve a property’s REVPAR. Combining traditional revenue management considerations with real...
GCommerce Replaces Traditional Agency Fees With Its Performance-Based Commission Model
GCommerce Solutions | December 10, 2019
Hoteliers will no longer be limited by their marketing budget and will have access to GCommerce’s full suite of services for substantially less than a travel agent commission GCommerce, a full-service digital marketing agency in the hospitality industry, announced today the launch of its performance-based commission model, replacing the traditional agency fee model. This offering allows GCommerce to leverage its full suite of services for the property to drive direct bookings and increase revenues, all for substantially less than a travel agent commission. “Hoteliers often reach out to us asking for help with their digital marketing...
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...
1
Technology
2
Appointments/People on the Move
3
Operations
4
Industry Happenings
5
All Things Independent