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What is the meaning / definition of ‘Workcation’ in the hospitality industry? The term ‘Workcation’ is formed by blending the words ‘Work’ and ‘Vacation’. By combining business and leisure travel (also known as Bleisure), people can combine work trips and vacation as a chance to explore new and exciting places whilst being away for work. Example: The office sends you abroad, and you invite your partner [...]
What is the meaning / definition of Wholesaler in the hospitality industry? A Wholesaler is a 3rd party organization that sells hotel room nights. Wholesalers are companies that buy rooms in bulk then sell them to travel agents and OTAs, allowing hotels to generate more sales. Wholesalers are operating in the B2B segment, meaning they do not sell directly to [...]
What is the meaning / definition of Walk in the hospitality industry? Sometimes, even though a hotel accepts a reservation from an individual, couple, family or group, it cannot actually accommodate them when they arrive on the agreed date! This is usually due to the hotel having full capacity at that time, confusion over a booking, or through the hotel [...]
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- We hear a lot of talk about Opaque Pricing and Opaque Travel Websites, but what is it really? It is in short a non-transparent value offer. What??? This needs to be explained in a bit more detail, right? Another arrow in the quiver for your revenue management plan.
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Now that we have our demand calendar, how do we start with pricing? We have found it effective, before setting a base price for each day, to develop a pricing grid. Such a hotel pricing matrix or rate grid is an essential revenue management tool. 
Today we decided to take a look back at the history and evolution of pricing in hotels and distribution. A lot, really a lot has changed in hotel revenue management over the last 10 years. It’s funny how quickly we have adapted to all new developments like it has been like this for ever…..
Besides setting out strategies for the Transient, Corporate and Wholesale segments, we also have an opportunity to generate more revenue by preparing and planning for group business. Revenue management strategies have to be applied to groups as well.- Are you offering what your potential customer or guest is looking for? Do you have enough rates and product variations available to reach all sub market segements and consumer? Here some revenue management strategies and pricing tips...
- So how can we diferentiate and optimize the product we offer? One more challenge in revenue management. By using physical and non-physical rate fences for your hotel rooms...
