total revenue management
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...
How To Get Revenue Management Right for 2024
Ahmed Mahmoud | March 11, 2024
By Ahmed Mahmoud The hotel industry is an ever-changing landscape, like many other industries, it has been unpredictable over the past few years, especially in regards to revenue management with unprecedented growth and innovation. From advanced reservation systems to personalized guest experiences, technological advancements have played a crucial role in shaping the way hotels, resorts, restaurant and others provide their services to customers. As we approach the year 2024, it is time to look ahead and explore How to Get Revenue Management Right for 2024 with the top trends set to further transform this dynamic industry, where the sec...
Total Revenue Management- The Journey from Capacity to Profit Management
Bespoke Revenue Management | April 18, 2018
It is a fact that over the last years, we have seen a growing need for traditional revenue management (RM) to evolve from having sole emphasis in optimising revenue mainly from room sales, towards adopting a more holistic view and focusing on achieving profit maximisation across the whole organisation. The latest developments in technology and added pressure in the market have advanced RM to acquire a strategic and proactive planning role with emphasis in maximising all components of the customer journey, instead of being utilised as a short-term reactive solution. This brought forth the idea of Total Revenue Management – a concep...
