revenue management
Hotel Revenue Management Best Practice, Shifting From Revenue Management to Profit Management
Ahmed Mahmoud | August 11, 2022
By Ahmed Mahmoud Good revenue management defines a property's bottom line. ... A profit management strategy determines a property's net revenue, Revenue management in hotels is a practice that has evolved significantly in its relatively short history, demonstrated great success using inventory, capacity and pricing to ‘manage’ revenue and probability, although hotel revenue management doesn’t evolve fast, strategies aimed at improving it develop in tandem with modern business and technological trends. What is the Revenue and Profit Management Role? Revenue management revolves around measurement of what customers from different ...
How Hotels Can Diversify Their Revenue Streams With Flexible & Mobile Technology
Nicole Dehler | July 20, 2022
By Nicole Dehler, VP of Product at Stayntouch Today’s hospitality market has seen a resurgence in travel demand, but in many ways it’s a much different environment than what existed prior to 2020. For one thing, the cost of labor will begin to rise as hoteliers offer increased wages, benefits and career advancement opportunities to correct chronic staff shortages. Customer demand has also changed, as guests begin to expect higher service levels, more personalization of the guest experience and more widespread adoption of hybrid travel models, such as bleisure trips or short-term rentals. Success in this new hospitality market requir...
Gen-Z Leads Comeback of Travel Spending: Here Is What They Want When It Comes to Hotels
Venkatesh Sakamuri | July 19, 2022
By Venkat Sakamuri Just a decade ago, the idea of a store that was entirely self-service – devoid of the smiling faces of staff we’ve grown so accustomed to – may have seemed far-fetched. Not impossible, of course, but at the time, this was a reality reserved for TV shows and movies rather than our everyday life. Today, however, the era of self-service is not only upon us – it’s already begun. As the COVID-19 pandemic upended our world as we knew it, the demand for touchless self-service (which was already alive and well) accelerated at an undeniably rapid pace. Where hands-on, in-person service was once the standard, self-ser...
GCommerce Launches Metadesk to Empower Hoteliers to Take Control of Their Metasearch Channels
GCommerce | July 14, 2022
Park City, Utah, July 14, 2022 -Officials of GCommerce, a leading, hospitality digital marketing agency, today announced the launch of a new metasearch platform, Metadesk. Metadesk is a software-driven experience designed to address known pain points and frustrations experienced by hoteliers regarding the management of their metasearch channels while leveraging GCommerce’s world-class media management and optimization skills. “Metasearch is quickly being categorized as a revenue management tool, and Metadesk is here to challenge that notion,” said Lindley Cotton, president & partner, GCommerce. “Metasearch advertising shou...
IDeaS and Jonas Chorum Finalize Two-Way Data Integration
IDeaS | July 13, 2022
Partnership helps hoteliers optimize revenue and boost pricing strategies MINNEAPOLIS—July 13, 2022—IDeaS, the world’s leading provider of hospitality revenue management software and services, announced today that it has partnered with Jonas Chorum to provide two-way data integration between IDeaS’ G3 Revenue Management System (RMS) with Chorum Property Management System (PMS). This partnership ensures rates are distributed on schedule, optimizes revenue through data-driven decisions, and allows IDeaS G3 RMS customers to dynamically price all key products. • Seamless integration of RMS and PMS – The partnership provides a tw...
Amadeus Launches New Market Forecast Capability to Help Hoteliers Accurately Track Revenue and Manage Costs
Amadeus | June 29, 2022
The enhancement to Amadeus’ RevenueStrategy360TM business intelligence solution is the first of its kind, utilizing historical seasonality and trends alongside the industry’s broadest coverage of forward looking, on-the-books market insights to enable more accurate forecasting. Refreshed daily, the forecasting capability allows hoteliers to gain the most accurate picture of market conditions to power more effective revenue management strategies and differentiate their offer. The hospitality industry has faced over two years of uncertainty and volatility. Hotel teams and revenue managers are operating in challenging times, having...
Hotel Technology Investments Now Stronger Than Ever
Duetto | June 28, 2022
Software as a Service provider Duetto sees year-on-year record growth of 84% in rooms added as hotels embrace technology adoption and innovation to best prepare for the future San Francisco, June 28, 2022 - Duetto, the hospitality industry’s leading software as a service provider of revenue strategy solutions, has seen a rapid increase in hotels adopting its cloud-based technology solutions. Today, the company announced a record-breaking 83.8% increase in rooms signed in the calendar year 2021 versus the calendar year 2020. The record growth continues, with recent signings from all four geographic regions Duetto operates in, including...
Swire Hotels Turns to IDeaS for a Unified Revenue Management Solution Across Properties
IDeaS | June 15, 2022
Singapore — June 15, 2022— IDeaS, a SAS company, the world’s leading provider of revenue management software and services, announced today that Swire Hotels has selected its G3 Revenue Management System (RMS) to unify its group approach to revenue management across a portfolio of seven hotels globally. Swire Hotels is a group of seven properties under two brands including The House Collective and EAST, with locations in Hong Kong, the Chinese Mainland, and the United States. As a group, Swire Hotels previously approached revenue management on an individual property level, which led to different vendors and systems being used across i...
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