revenue analytics
IDeaS and RMS Cloud Enhance Technology Partnership to Further Automation of Pricing Decisions
IDeaS | April 20, 2022
Two hotel technology leaders work together to optimize revenue for all hotels Singapore—April 20, 2022—IDeaS, the world’s leading provider of revenue management software and services, and RMS Cloud, a provider of property management software and scalable technology for the hospitality industry, have today announced an enhanced partnership to maximize occupancy and increase revenue for hoteliers through an advanced technology integration that provides superior visibility into rate strategy and drives smarter decisions to achieve greater revenues. Through this partnership, IDeaS and RMS Cloud have built a two-way interface between R...
HSMAI and Revenue Analytics Release a New White Paper — The New RMS: A Buying Guide
HSMAI | June 10, 2021
The Hospitality Sales and Marketing Association International (HSMAI) and Revenue Analytics present The New RMS: A Buying Guide, a new white paper that explores modern hotel revenue management systems, including how they have evolved — and how they need to evolve — in the aftermath of the pandemic that has seriously disrupted the hospitality industry. Through interviews with revenue leaders across the industry, HSMAI and Revenue Analytics have created a guide to help hoteliers make informed decisions about revenue technology now and in the coming years. “The hotel industry needs to embrace and adopt technology that will help them o...
How Operational Efficiency Leads to Optimal Profitability
HotStats | October 22, 2020
In the hotel industry, the deeper decision-makers can drill down into departmental figures, the easier it is to generate revenue, chisel away at unnecessary costs and post a healthy profit. Simply put, the best decisions are driven by in-depth analysis of departmental revenue and operational costs. Sound like too much work? Analyzing these critical figures and unlocking higher profits may be easier than you think. Is the Hotel Industry Measuring Revenue Wrong? First, why is it important to measure departmental metrics? The answer is clear when you look at what most leaders in the hotel industry are doing wrong. The...
RM Strategies & Best Practices for Pre-Opening Your Property
Dan Skodol | August 20, 2019
By Dan Skodol, Vice President of Revenue Analytics at Rainmaker, a Cendyn company Despite reports of a weakening global growth rate through 2020,1 research from IBISWorld shows that the hotels and motels industry has outperformed the broader economy for the past five years, and total industry revenue so far this year has reached $206 billion.2 Globally, there are 100,535 businesses, with a slate of new project openings continuously being added to the lodging landscape. We saw an increase of 669,460 rooms in 2018 in the U.S. alone.3 Whether renovating a building, buying an existing hotel, or building from the ground up, a hotel owner is ...
Beyond RevPAR: Understanding Total Group Revenue for Hotels
Dan Skodol | September 11, 2018
By Dan Skodol, Vice President of Revenue Analytics at Rainmaker Once upon a time, group business was essentially a filler for the guest rooms that transient business didn't occupy. In today's world of all-time occupancy highs,1 group business tells a different tale. When hotel owners examine their full profit picture, many now understand that group business and the revenue it generates is a major player in their overall revenue management (RM) strategy. However, groups are a challenge to revenue manage, as they're made up of many moving parts. To be successful in the group arena, hotels need to have the appropriate tools and strategies ...
The True Essence of Hotel Revenue Management
Dan Skodol | April 17, 2018
By Dan Skodol In 1972, an employee of British Overseas Airways Corporation by the name of Ken Littlewood provided the genesis of what has become today's revenue management (RM) discipline. He established "Littlewood's Rule," a yield management rule that addressed revenue maximization by proposing that discounted fares be accepted if their revenue value exceeded anticipated revenue from the expected value of full-fare tickets. Littlewood's algorithm led to experimentation with "fenced" pricing and a forecasting system based on seat inventory. Airlines also tried to fill as many seats as possible by predicting how many booked passengers w...
