What is Hotel Revenue Management?
In this first article we will go over the definition of what is revenue management in the hotel and hospitality industry. Additionally we will be covering the fundamentals of revenue and yield management.
Hotel Market Segmentation
One of the components needed to apply a hotel revenue management is market segmentation. It allows you to target and market to a variety of consumer groups with different behavior with an offer that matches their needs and budget level.
Revenue Management Syllabus & Paper
After publishing many articles online, we have now also [...]
Free Revenue Management Training Course
Before subscribing to a hotel revenue management course or [...]
Revenue Management Book for Hotels
Xotels has published all 12 chapters of its revenue management book for hotels, ‘Leadership in Revenue Management’ for free on its blog. It is a hotel yield management manual both for beginners and advanced, covering a wide spectrum of topics.
Revenue Management Plan – Step 8
Am I comparing myself in terms of pricing against the market and my competition or am I working in a vacuum? Know what you are competing against. Understand the pricing strategy of competitor hotels. Step 8 in our hotel revenue management plan...
Hotel Revenue Management Action Steps 7
Are you tracking your pick-up trends per segment, channel, account? What steps do you need to take to gather quality data to make better revenue management decisions for your hotel? Step 7 in our revenue management plan...
Hotel Forecast Model and Tool
According to your yield opportunities, you may decide of a more or a less developed forecasting tool. You may also consider Computerized - Revenue Management System. Here some examples of hotel forecasting tools in exel.
What influences to consider for your hotel forecast?
What elements and influences should you consider when making your hotel forecast? What could affect the pick-up and booking trends of your hotel? Important question to be answered in order to have a solid revenue management strategy.