Last year we have been blogging away again trying to bring you some interesting ideas and alternative perspectives to the hotel industry. Looking back we have had a record year with our hotel blog. Some of the articles created great online discussions and debates, it was quite an interactive year. We also reached an all time record high with hits on our blog. Find out what was our top 10 most read hotel blog posts in 2012.
We have just recently taken on 2 youth hostels in Paris and are working on developing revenue management strategies for them. Just as in hotels yield management techniques can be implemented in youth hostels to maximize revenue and profit. Another exciting journey we are taking with Xotels.
Last week, together with some fellow revenue management appassionatos, on a panel at BTO (Buy Tourism Online) in Florence, we had an interesting discussion on the relation between internet and voice reservations. The topic raised was if we are not spending too much time on internet business.
It would be interesting to compile a list with the tools that a revenue manager should have his disposal. Let’s call it the ultimate Hotel Revenue Management Toolkit. We have done some digging through our revenue management excel spreadsheets reports, yield tools, systems and technology and came up with quite an extensive list of tools and gadgets a revenue managers requires to do his job well.
I can’t even begin to count the number of times I have heard hoteliers mention in our revenue management seminars that they need to get more direct business, preferably through their own hotel website. Of course this is something we all want for our hotels. We all well know that direct-sales brings a higher margin to the bottom line, than reservations through commissionable third party distributors like OTA or low net rate wholesalers and tour operators. But then why are so many hotel websites still static?
We're on a mission to help you select the best channel manager available for you, let's continue. We have covered a number of general system selection criteria in the last release. Due to the important role of channel management within hotel revenue management, we’ll now have a detailed look at rate management, inventory management and security related matters. We'll continue from where we stopped last time, with your price strategy.