profit management
Webinar: Hospitality Business Intelligence Insights That Drive Profits
Otelier | September 4, 2024
Tuesday, September 17, 2024 · 11:00 a.m. Eastern Time (US & Canada) About This Webinar Learn how centralizing data from across your hotel and portfolio will provide actionable insights that lead to more profitable strategies. Discover how an integrated technology platform will eliminate manual data entry and aggregation, uncover correlations among diverse data sets, and lay the groundwork for a robust AI strategy. REGISTER NOW Agenda Centralizing data from essential sources to gain comprehensive performance insights Empowering leaders to shift from revenue management to profit management strategies Effective methods for o...
Hotel Revenue Management Best Practice, Shifting From Revenue Management to Profit Management
Ahmed Mahmoud | August 11, 2022
By Ahmed Mahmoud Good revenue management defines a property's bottom line. ... A profit management strategy determines a property's net revenue, Revenue management in hotels is a practice that has evolved significantly in its relatively short history, demonstrated great success using inventory, capacity and pricing to ‘manage’ revenue and probability, although hotel revenue management doesn’t evolve fast, strategies aimed at improving it develop in tandem with modern business and technological trends. What is the Revenue and Profit Management Role? Revenue management revolves around measurement of what customers from different ...
Hospitality Financial Leadership: Zero Based Expenses – How to Plan and Manage
David Lund | June 24, 2019
By David Lund I help hotels manage their profits more efficiently and in the hospitality world, there are only two main cost types that need a system and a strategy to properly control them. The two culprits are payroll and expenses. In this piece, I am going to talk about expenses, namely a process for establishing and managing your expenses on an ongoing basis in real time using a zero base. Zero based expenses are nothing new. Here is the definition from Wikipedia. Zero-based budgeting originated in the 1970s. Many businesses will budget and plan out things to maintain financials. In the past, businesses would only look at specif...
