revenue management
8 Revenue Manager Phrases That Mean “I Am Winging It and Have No Idea”
Fabian Bartnick | October 31, 2024
By Fabian Bartnick We’ve all been there—stuck in a meeting where someone says something that makes you think, Do they actually know what they’re talking about? Here are 8 classic phrases from revenue managers who are definitely winging it. 1. We’re optimizing our mix across all channels. Translation: I threw some guesses out there and hoped for the best. Please don’t ask for specifics. 2. The data suggests we should hold rates steady. Translation: I looked at the numbers, but there’s no way I can explain why it matters. Holding steady just sounded safe. 3. Our forecast accuracy is a high priority for us. Transl...
Agilysys guestsense.ai Powering Agilysys Spa Wins Top Productivity Technology Award at G2E 2024 and Will Be Featured in “The Lab”
Agilysys | October 4, 2024
-- Gaming and Technology Gold Award 2025 for Best Productivity-Enhancing Technology signals rising importance of revenue management for casino and gaming properties -- -- Senior VP Frank Pitsikalis highlights guestsense.ai revenue management advantages in “New Era Hospitality: Revenue Beyond The Room” in The Lab at G2E 2024 – ALPHARETTA, GA (October 4, 2024) — Agilysys, Inc., a leading global provider of hospitality software solutions and services, today announced that guestsense.ai – artificial intelligence (AI) embedded in several Agilysys solutions to improve revenue management, staff productivity, personalized guest ...
Titanic Hotels Selects IDeaS G3 RMS to Maximize Revenue Across German Property Portfolio
IDeaS | September 26, 2024
LONDON, Sept. 26, 2024 – Titanic Hotels, a leading hotel brand operating across Turkey and Germany, has partnered with IDeaS, a SAS company, the world’s leading provider of revenue management software and services, to optimize its revenue strategy across their German portfolio. Prior to implementing IDeaS G3 RMS, Titanic Hotels Germany relied on manual revenue management processes and siloed internal databases. Additionally, Titanic Hotels’ ability to accurately forecast demand at a granular level was limited, affecting price decision-making and their ability to capture an optimal mix of demand. To align with their strategic busin...
Cloudbeds To Usher in the Era of ‘Decision Intelligence’ at Upcoming Passport Conference
Cloudbeds | September 4, 2024
San Diego, CA – Cloudbeds, the premier hospitality management platform, is set to usher in the era of ‘decision intelligence’ for the hospitality industry at its upcoming Passport User Conference on October 23, with the unveiling of Cloudbeds Intelligence. Cloudbeds Intelligence, a new AI and machine learning layer built into the platform, is designed to supercharge all functionalities of the hospitality management system and break down departmental silos, delivering unmatched decision-making intelligence for revenue managers, marketers, GMs, operations staff, and more. The innovative platform layer implements causal AI using r...
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...
IDeaS Boosts Revenue and Guest Experience for IDILIQ’s Luxury Resorts
IDeaS | September 4, 2024
IDeaS G3 RMS selected to automate revenue management tasks and optimize pricing strategies LONDON - Sept. 4, 2024 – IDeaS, a SAS company and global provider of hospitality revenue management software and services, today announced IDILIQ Hotels & Resorts has selected IDeaS G3 RMS to automate revenue management and optimize its pricing strategies across its portfolio of Spanish luxury resorts. IDILIQ Group — pioneers of the resort-based concept — designs, develops, and manages residences in the most sought-after holiday destinations in Europe and the U.S. The Spanish division of IDILIQ operates five luxury resorts across the country...
The Role of Total Revenue Management in a Hotel Profitability Strategy
CoStar Group | August 30, 2024
The global hotel industry is firmly positioned in an era of normalized growth levels. That means to achieve greater profits, hotel owners and operators need to explore every possible revenue stream while also working to manage expenses. The starting point is a strategy built on a total performance picture—one that understands both the top and bottom lines as well as the circular relationship between the two. Fortunately, 35 years of historical profitability data presents obvious trends that inform hoteliers working to generate more financial gains. Revenue and profit are closely linked Understanding the relationship between revenue a...
From Revenue to Profit: A Culture Shift in Hotel Commercial Strategy
Otelier | August 8, 2024
Amid challenges like flatlining demand and increased pricing pressure, forward-thinking hotel commercial strategy teams are shifting their focus from driving revenue to driving profitability. By Jason Q. Freed Hospitality Data Evangelist, Otelier As pandemic-induced “revenge travel” wanes and inflation continues to squeeze travelers’ wallets, many hotels are finding rising operating costs are outpacing revenue growth. The result is a widespread decline in profit margins. Given these conditions, for hotel owners and operators, focusing on strategies to drive profitability over the near term is critical. In many cases, this requires ...
