SalesAndCatering.com and LodgIQ™ Announce Partnership To Deliver Market-Leading AI Revenue Management for Group Sales
SalesAndCatering.com | June 18, 2024
Direct Booking Growth Tips for the Back Half of 2024
Adam and Larry Mogelonsky | March 27, 2024
Revenue Strategies
Les Hotels Baverez Selects IDeaS Revenue Solutions to Boost Competitiveness in Paris
IDeaS | July 28, 2020
Five-star hotel group to use the market’s most sophisticated RMS solution to increase efficiency and profitability LONDON—July 28, 2020—One of Paris’s leading luxury hotel groups, Les Hotels Baverez, has selected IDeaS G3 Revenue Management System (RMS) to improve its forecasting capabilities and boost its competitiveness in Paris. With three five-star hotels in the French capital, Les Hotels Baverez will implement the market’s leading RMS technology to ensure revenue is maximised in all its 233 rooms. Working in an increasingly competitive market – Rising competition within the luxury segment of the Paris market highli...
Bartech NeoTray Provides Safe and Convenient Point-of-Sale for Generating Post-COVID Guestroom Revenue
Bartech | July 28, 2020
Fully customizable, automatic in-room "dry minibar" tray allows hotels to ensure guest safety and convenience, while maximizing in-room revenue LAS VEGAS — JULY 28, 2020 — Bartech, the leader in automatic minibar solutions for the global hospitality industry, is fulfilling a growing need in the post-COVID 19 hotel environment through its proprietary NeoTray solution, which allows non-refrigerated items to be securely offered to hotel guests through an automated point-of-sale within the safety of the guestroom. As hotels worldwide seek out ways to continue to provide for guests’ needs in the new socially distanced travel experience, B...
Global Hotel Profit Performance Sticks to Script
HotStats | July 27, 2020
In 1973, English rock band Led Zeppelin was filmed over three days of concerts at Madison Square Garden in New York. The footage was released three years later under the title: “The Song Remains the Same.” The film was promoted as the first time the world had a front row seat to the legendary band. Unfortunately, as the hotel industry continues to labor through COVID-19 and its impact, the emerging trend mirrors the Zeppelin title: “The Story Remains the Same.” A front row seat to a fright show. As the second quarter of 2020 closed, global regions continued to struggle with the effects of the coronavirus, with some areas jum...
Cote Family Destinations Partners With ProfitSword to Maximize Business Intelligence Visibility and Company Growth Opportunities
ProfitSword | July 21, 2020
Family-owned operator of resorts and summer camps leverages ProfitSword solutions to ensure ultimate real-time business performance transparency across organization. NISSWA, Minn. – (July 21, 2020) – ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has announced its partnership with Cote Family Destinations via the implementation of ProfitSage and ProfitPace. A family-owned resort and summer camp management company with multiple locations throughout Minnesota and Arizona, Cote Family Destinations is now able to provide employees across its organization with instant access to valuab...
The Bottom Line of Hotel Automation Is…..Well…., the Bottom Line!
Jos Schaap | July 14, 2020
By: Jos Schaap, CEO & Co-Founder ROOMDEX Traditionally, hospitality has been a conservative industry when it comes to technology given that the focus has always been on face-to-face service between staff and guest. The central location for the majority of these interactions has been the front desk (or Front Office (FO) department). COVID-19, however, is changing all of this. No one knows for sure what the new normal will look like but hotel stays are likely to be a stripped-down affair, particularly in higher-end hotels where personalized service and amenities have long been part of the draw. Step into any hotel lobby now and you’...
Pillows Hotels Implements IDeaS to Optimise Revenue Amid Market Demand Uncertainty
IDeaS | July 14, 2020
Pillows Hotels to reposition its organisation-wide strategic focus around IDeaS RMS capabilities Tweet this: Pillows Hotels implemented the @IDeaS_RevOpt Revenue Management System in the face of current demand uncertainty and is already reporting positive results. Get the details here: www.ideas.com/news LONDON—July 14, 2020—Today, IDeaS announced Pillows Hotels selected IDeaS Revenue Management System (RMS) to enhance the hotel chain’s strategy and competitive position in the face of the current industry downturn. Across its eight properties in the BENELUX region, the group has installed the industry-leading revenue management...
Unconstrained Voices – Staying Positive in the Face of Adversity
Klaus Kohlmayr | July 2, 2020
By Klaus Kohlmayr For everyone whose lifeblood is the hotel industry, the last few months have been heartbreaking. Of course, COVID-19 has wreaked havoc and unimaginable pain and hardship for countless people around the world, but we could never have imagined seeing the entire world stop traveling completely. I experienced this disruption firsthand while on vacation in New Zealand, having to scramble to find a safe place to “shelter” for an extended period of time, with travel restrictions and flights changing literally by the hour. Despite being trapped Down Under—mind you, I can think of far worse places to be stuck in limbo—m...
Hulsing Enterprises, LLC Partners With ProfitSword to Maximize Data Management, Business Intelligence and Strategic Planning Abilities
ProfitSword | June 23, 2020
PRAIRIE VILLAGE, Kan. (June 23, 2020) – ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has been selected by Hulsing Enterprises, LLC to implement ProfitSage, the industry’s leading performance data management, operational and financial reporting solution. A widely renowned hospitality and medical facility management company that oversees an array of major hotel brand locations across the US, Hulsing Enterprises can now leverage ProfitSage at each of its hotel properties to provide employees with real-time and granular insight into business performance. ProfitSage’s fully customizab...
How Rooms-Only Business Impacts a U.S. Break-Even Analysis
HotStats | June 18, 2020
When a golfer hits a wayward drive, it triggers what’s referred to as a provisional ball. A provisional is a second golf ball played by a golfer who believes his or her first ball (the stroke just played) may be lost, but not in a penalty area or out of bounds. A provisional is unlike a mulligan, which occurs when a golfer, unheeding of the formal rules of golf, replays a stroke — a do-over — but doesn’t count it against their score. One is within the rules of the game; one is outside it. In May, HotStats published one of its most highly engaged with pieces of content, titled: “Analysis: At What Occupancy Rate Can a Hotel Break E...
The Top 7 Reports Every Sales and Catering Professional Should Be Using
Ryan Hamilton | June 18, 2020
By Ryan Hamilton, Co-Founder, SalesAndCatering.com and Bluebuzzard Technology Group For event planners and hoteliers, the days of manual reporting and venue management are long gone — or at least they should be. The digital age has ushered in an influx of automation, as hoteliers and venue owners leverage new-age sales and catering management technology to streamline their operational efforts and drive bookings. As we know, in the realm of sales and catering, smart data allows for smart decision making. However, if teams are inundated with data across multiple, siloed systems, they may not be able to derive the actionable insights nee...
Generate More Revenue by Looking at Your Hotel Like an Owner
ROOMDEX | June 16, 2020
By Jos Schaap In both economics and business decision-making, “sunk cost” refers to costs that have already happened and cannot be recovered. These are different than ongoing costs that are spent on salaries, subscriptions, insurance, etc. The concept is important because sunk costs will stay the same regardless of the outcome of any action or decision you make in the future. In the area of hotels, the cost of construction (and/or hotel purchase) falls into the category of sunk cost. Let’s think of a hotel from the owner’s perspective. They want to maximize the value of the real estate they have purchased – every inch of it. ...
‘Ask Duetto’ Launches Providing Access to Revenue Strategy Experts
Duetto | June 16, 2020
Duetto’s revenue experts on hand to answer questions through recovery to profitability San Francisco, June 16, 2020 — Duetto, hospitality's innovative software as a service provider of revenue strategy solutions, has launched ‘Ask Duetto,’ a complimentary revenue insights service powered by Duetto’s team of experienced hoteliers. Built to help executive teams validate strategic revenue decisions as they navigate the ‘new normal,’ the Ask Duetto team will provide insightful guidance and recommendations to the top trending issues impacting the global hospitality industry. To Ask Duetto, hoteliers simply enter their revenu...
ProfitSword Wins Prestigious American Business Award for Next Generation ProfitAbility Business Intelligence Solution
ProfitSword, LLC | May 26, 2020
Premier US business awards program bestows bronze “Stevie Award” to cutting edge platform designed to detect business performance anomalies using artificial intelligence and machine-learning abilities. ORLANDO, Fla. – (May 26, 2020) – ProfitSword, the leading developer of business intelligence and data integration software for the hospitality industry, has been awarded the Bronze “Stevie Award” during the 18th Annual American Business Awards for its recently launched ProfitAbility business performance dashboarding and reporting platform. Competing with multiple organizations across the country within the Artificial Intelligence...
ProfitSword Publishes Best Practice Guide on How Hoteliers Can Overcome Market Uncertainty and Safeguard Revenue
ProfitSword | May 14, 2020
In-depth report details how latest business intelligence practices can preserve hotel financial stability and ability to implement successful strategies despite economic challenges. ORLANDO, Fla. – (May 14, 2020) – ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has published a detailed guide demonstrating how hoteliers can leverage the latest business intelligence strategies and their organization’s performance data to safeguard hotel operations and revenue during times of economic hardship. Entitled, “Staying One Step Ahead of Economic Uncertainty With an Effective Business ...
Duetto Launches Enterprise Rate Guidelines Feature for Hotels
Duetto | May 12, 2020
San Francisco, May 12, 2020 — Duetto, hospitality's innovative software as a service provider of revenue strategy solutions, has introduced several new features to its GameChanger pricing application. Designed by and for hoteliers, the new add-ons have been specifically built to answer the needs of hoteliers trying to gear up for re-opening or a resumption of business after running on low occupancies in recent months. The two new features have been developed to enable revenue leaders to centralize control over their revenue strategy, while still empowering properties with pricing flexibility for their localized strategy. Enterprise...
Duetto Launches Free Market Demand Report for Hoteliers
Duetto | April 17, 2020
New Pulse Report will help industry anticipate and plan for recovery San Francisco, April 17, 2020 — Duetto, hospitality's innovative software as a service provider of revenue strategy solutions has launched the Duetto Pulse Report, a free, data-driven analysis of key metrics including bookings, cancellations and website traffic in the US, Europe, and Asia Pacific. Built by Duetto’s team of revenue experts and analysts, the Duetto Pulse Report provides a bi-weekly analysis of market demand from hotels using the Duetto platform. It is available as a free tool for all hoteliers around the world. “Duetto is committed to providing ...
IDeaS Provides Ongoing Client Support and Hotel Industry Guidance During COVID-19 Crisis With New Podcast and Webinar Series
IDeaS | April 16, 2020
IDeaS produces new podcast season and webinar series in effort to provide insights and unite the global hospitality community during these challenging times Tweet This: @IDeaS_RevOpt launches a podcast that takes an intimate look at how hotels are managing and coping with the COVID-19 outbreak as well as a webinar series helping clients manage their IDeaS solutions in response to business impacts. www.ideas.com/news #rev MINNEAPOLIS—April 16, 2020—IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, launched today a special Unconstrained Conversations podcast season taking an intimate ...
Revenue Management Needs to Go Beyond Pricing
Dr. Gabor Forgacs | April 14, 2020
By Dr. Gabor Forgacs This abrupt halt in travel caused by the current pandemic is not going to last forever but it will last long enough to shake the foundations of the global accommodation industry. The unprecedented loss of revenue will not return instantly to pre-pandemic levels to hotels. It would be a mistake to think that the sudden stop in revenue flow will one day suddenly restart and go full tilt again. Revenue professionals who focus mostly on tactical price control will have to broaden their horizon in the future when travel resumes as business may not be as usual once the COVID-19 pandemic gets behind us. After the economy g...
Hotel Marketing and Revenue Management in the Time of Pandemic
Vikram Singh | April 13, 2020
By Vikram Singh As I write my first article during a global pandemic, my title inspiration comes from the Columbian literary superstar, Gabriel García Márquez. COVID-19 has rapidly decimated the industry I have worked in for over 20 years. There have been hardships before, but this one seems darker and more insidious than anything we have seen before. Nobody knows exactly what lies ahead, but the current reality is that thousands of our hospitality industry colleagues – many in my own personal network – have lost their livelihood or taken huge cutbacks in compensation and benefits. March was a month filled with bad news that was s...
A Curriculum for Commercial Leaders / Kelly McGuire
KELLY MCGUIRE | April 13, 2020
Keep those big brains active and (relatively) stress free during COVID-19 with this reading program created specifically for revenue management, sales and marketing professionals By Kelly McGuire In these unprecedented times, extremely talented hospitality professionals are finding themselves with some spare time, whether impacted by furloughs or layoffs, or even just reduction in business volumes. Many are obsessively consuming COVID-19 content. It’s the only thing anyone can talk about (for good reason). While it’s important to track the current pandemic and its implications, frankly, I’m starting to bel...
Why Flow-Through and Flex Analysis Will Be Key Post-COVID-19
HotStats | April 13, 2020
It feels interminable now, but there will come a day when the coronavirus — this “invisible enemy” that continues to lay waste to normal, everyday functions and in a matter of weeks succeeded in leveling the world’s economy — will subside and end. Though recovering occupancy and generating revenue will be at the top of hoteliers’ lists, beyond that, understanding how to turn revenue into profit will be essential to sustaining growth post-COVID-19. One way to do that is to understand the concepts of flow-through and flex. Historically, hotel performance has been measured using three main metrics: occupancy rate, average daily...
Resort Fees – A Growing Source of Revenue
Robert Mandelbaum | March 16, 2020
By Robert Mandelbaum The 11th edition of the Uniform System of Accounts for the Lodging Industry (USALI) defines resort fees as, “mandatory fees charged at either a flat amount or a percentage of the room rate.” These fees are frequently intended to cover services such as fitness facilities, spas, pools, local phone calls, Internet access, airport transportation, and golf driving ranges, among other recreational facilities. Resort fees were initially introduced to allay the complaints of resort guests who felt they were being “nickel-and-dimed” every time they used a resort amenity. Since then, the practice of charging a res...
10 Ideas to Improve Booking Performance During the Crisis
Milestone Inc. | March 10, 2020
By Dev Kurbur, SVP of Global Customer Success “Some companies will emerge stronger than before” – Andy Grove Intel’s Andy Grove had a lot to say about how to react to downturns and setbacks. Here are just a few of his insights and maxims: 1) The first rule is that economic downturns always end. 2) Some companies emerge from recessions stronger than before. 3) You can’t save your way out of a recession. 4) The future favors the optimist.* Milestone, Inc. has dozens of hospitality clients, so we decided to put together some recommendations for where to invest time and focus during the crisis and here we share them with ...
The First Rule of Coronavirus: Don’t Panic
March 10, 2020
March 10, 2020 -- Coronavirus may seem like it’s come out of nowhere, but hospitality revenue optimization professionals have been here before. From Sept. 11 to SARS to one hurricane season after another, they have not just survived plenty of crisis events but thrived in the aftermath. The number-one thing to keep in mind, according to Timothy Wiersma, founder and principal of Revenue Generation LLC and chair of HSMAI’s Revenue Optimization Advisory Board: Don’t panic. Wiersma shared some additional advice for revenue professionals in a recent interview with HSMAI. When it comes to responding to the coronavirus, what should hospit...
