Hotel Management Blog

Hotel revenue management has seen spectacular growth in recent years. It has become such a fundamental part of hotel business strategy that it is now on an equal footing with marketing and sales in many hotels, and it is driving hotel profit growth.

Going through industry news articles this last week I came across a hotel marketing video that blew me away. You should really see this one, as we nominate it to be the best hotel marketing video of 2017. Going through industry news articles this last week I came across a hotel marketing video that blew me away. You should really see this one, as we nominate it to be the best hotel marketing video of 2017.

Revenue management in the hotel industry is still relatively young. While it began in the 1990s, it has really bloomed and grown exponentially in the last decade, particularly in the last few years. In this time, it has been overshadowed by other departmental functions within the industry, such as sales and marketing. Revenue managers, in comparison, have worked behind the scenes and tended to report to these departments.

Xotels will be coming to World Travel Market 2017 in London with an even greater team than any year before. Revenue management is really a hot topic in the hospitality industry. And we are not just talking hotels.

Hotel revenue management trends move fast. The sector has evolved at a remarkable pace and is set to continue this course. It’s an exciting time to be a part of such a fast-moving industry and hotels can benefit from taking advantage of the new trends that are shaping it.

Let’s take a look at the top 5 trends and changes that are driving hotel revenue management.

In the early days of Xotels we used to do revenue management and distribution seminars, and we would always ask a trick question, ‘Who has Standard Rooms in their hotel’. Half the room would raise their hand (unfortunately). We would get into the discussion of how much they would pay for something Standard (or rather average). Room type names are an often-missed opportunity in hotels to commercially position the product more attractive and competitive.