dan skodol

/Tag: dan skodol

dan skodol

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...

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...

In Revenue Management, You Can Have Good Timing AND Good Forecasting

Dan Skodol | April 25, 2019

By Dan Skodol I recently read a piece about an international resort company that introduced a Revenue Management System (RMS) within the last five years. Like many resort properties around the world, their hotels have a high degree of dependence on contracted tour business and other leisure-oriented distribution channels. Because of the long lead-time associated with forming these contracts, "timing" is a very important focus of Revenue Management as missing a contract season means missing out on bookings that are essential to their performance. This certainly makes sense. But I got lost was when the Revenue Manager stated in an intervi...

Perception Is Reality: Pricing Psychology for Hotel Revenue Managers

the Author | April 9, 2019

By Dan Skodol, Vice President of Revenue Analytics, The Rainmaker Group "All our knowledge has its origin in our perceptions." ~ Leonardo da Vinci Is a pair of $50,000 Sennheiser Orpheus headphones really fifty times better than a pair that costs $1,000? Expensive items and experiences are often branded as high quality, exclusive, or bespoke. But are they really better than their less-expensive counterparts? And what truly motivates people to pay more for something? In the hectic daily life of a hotel revenue strategist, coming up with optimal pricing presents the greatest challenge – a challenge that's typically handled through r...

Beyond RevPAR: Understanding Total Group Revenue for Hotels

Dan Skodol | September 11, 2018

By Dan Skodol, Vice President of Revenue Analytics at Rainmaker Once upon a time, group business was essentially a filler for the guest rooms that transient business didn't occupy. In today's world of all-time occupancy highs,1 group business tells a different tale. When hotel owners examine their full profit picture, many now understand that group business and the revenue it generates is a major player in their overall revenue management (RM) strategy. However, groups are a challenge to revenue manage, as they're made up of many moving parts. To be successful in the group arena, hotels need to have the appropriate tools and strategies ...

All-Inclusive Hotels: Looking Beyond RevPAR

Dan Skodol | August 13, 2018

By Dan Skodol, Vice President of Revenue Analytics at Rainmaker When people think of all-inclusive resorts, they may conjure up images tied to bland buffet food, endless banana daiquiris, and conga lines of partying singles dancing around the poolside – all for one budget-conscious package price. Today's all-inclusives still tempt travelers with comprehensive packages that include meals, lodging, and entertainment options. But the all-inclusive business model has evolved significantly from its 1950s origins.1 Today, gourmet meals are often made from sustainable, locally sourced ingredients, and served along with handcrafted cockta...

The Secret Sauce to Profitability for All-Inclusives: Understanding Total Guest Value

Dan Skodol | July 17, 2018

By Dan Skodol, Vice President of Revenue Analytics at Rainmaker The evolution of all-inclusive resorts reads a lot like the fairytale of Cinderella. From humble beginnings catering to a dollar-stretcher crowd – with mediocre buffet food, mid-level accommodations, and events centered around boisterous pool activities – to today's transformation into a bright, rising star in the hotel industry. From 2011 to 2014, demand for all-inclusives rose from 8 to 14 percent,1 and now they are one of the fastest growing segments in vacation lodging. Hundreds of all-inclusive resorts now span the globe, moving beyond beachside havens to i...

As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.