revenue strategies
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...
Defining Blended Travel and Its TAM Through Marriott Hotel Examples
Adam and Larry Mogelonsky | October 30, 2024
By Adam and Larry Mogelonsky Every hotelier is already thinking about ways to take advantage of the growth of remote work and bleisure in the post-pandemic travel landscape. Best described now as ‘blended travel’ due to the many different types of travel it encompasses, let’s take a look at what Marriott is doing so you can learn from their example, as well as convince you a bit more about the opportunity here – the total addressable market (TAM) as they say. Whether remote work, temporary relocation, staycation or digital nomadism, with these emerging blended travel dispositions in mind, it behooves hotels to adjust their commerc...
Global Hospitality Study Exposes Critical ‘Aspiration-Reality Gap’ in Measuring Per-Guest Revenue Beyond the Room
Agilysys | October 30, 2024
-- Research from Agilysys reveals 82% of hospitality executives recognize the value of augmenting RevPAR metrics with Revenue Per Available Guest (RevPAG) goals, but 56% feel unprepared to do so -- Oct 30, 2024 (SAN ANTONIO, Texas and ALPHARETTA, Ga.) – Today at the American Hotel and Lodging Association’s The Hospitality Show being held in San Antonio, Texas, Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of hospitality software solutions and services, released the findings of its 2024 Global Hospitality Impact Study: Unlocking Revenue Beyond the Room. This comprehensive survey of 489 hospitality executives and tec...
Serving All Segments With Dynamic Onsite Programming at the Andaz Mexico City Condesa
Adam and Larry Mogelonsky | September 25, 2024
Against the backdrop of the current boomtown that is Mexico City (CDMX), the Andaz Mexico City Condesa is one such newcomer, having just recently celebrated its first anniversary. Tucked just off the main thoroughfare of Avenida de los Insurgentes in the trendy and perfectly safe downtown neighborhood of Condesa-Roma, this hotel of 213 rooms including 20 suites represents a shining example of how dynamic, multi-space programming can drive demand from different segments and boost total revenue by increasing onsite capture per guest (TRevPAR or TRevPAG). Following our first report on this luxury property where we focused on how generating a se...
Check-In to Success: Agilysys Reveals Path to Hospitality Innovation
Agilysys | September 18, 2024
Insights from Agilysys 2024 APAC Hospitality Impact Study reveal the importance of personalization and seamless experiences By Tony Marshall, Vice President and Managing Director, APAC The Agilysys 2024 APAC Hospitality Impact Study reveals critical insights into how hoteliers can boost both guest satisfaction and revenue. The key to unlocking this dual success lies in a vital yet often underutilized tool - personalization. Cracking the Loyalty Code: Unraveling the Rebooking Paradox One of the study’s most startling findings is the "rebooking paradox." While hoteliers report high guest satisfaction (86%) and perceived value for m...
SiteMinder Pioneers Mobile-First Intelligence, Partners With IDeaS to Make Dynamic Revenue Management Accessible to All Hotels
SiteMinder Limited | September 17, 2024
MINNEAPOLIS, Sept. 17, 2024 – SiteMinder, the world’s leading hotel distribution and revenue platform, is heralding a new era of revenue management for hotels with the unveiling of ‘Dynamic Revenue Plus,’ the only solution for hotels to both access live market intelligence and take immediate action on their bookable inventory, pricing, and distribution strategy. Unlike revenue management systems that have traditionally been accessible to a limited number of hotels, the dual capability within Dynamic Revenue Plus means any hotel can, for the first time, use one mobile-first system to optimize its revenue based on market demand. Dynami...
How To Turn Inbound Reservations Inquiries Into Proactive, Outbound, Reservations Sales Leads
Doug Kennedy | September 5, 2024
Complimentary Registration Now Open For Doug Kennedy’s Next Webcast! Sponsored By Travel Outlook and Track Hospitality Software Register your team and participate live, or view the recording, of Doug Kennedy’s next 40-minute training webcast scheduled for Friday, September 20, from Noon – 12:45 pm EST. REGISTER HERE “Many leaders tend to think the role of reservations agents is simply to field inbound calls, answer questions, and book those who are not techno-savvy enough to book online,” said KTN President Doug Kennedy. “Yet when you monitor the cloud-based phone logs at resorts, vacation rental companies, and luxury hotels ...
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...
