Author: Ari Andricopoulos
Ari having spent 15 years creating trading algorithms for financial markets, knew he could build a solution that would increase their revenue. He set out to interview hoteliers in a similar position, find partners equally passionate about the independent hotel experience, and create a revenue management solution intended specifically for smaller hotels. Ari’s father increased revenue by over $50,000 in the first year – not bad for 15 rooms.
What is RevPAR and How Can Your Hotel Increase It?
Defining RevPAR and ADR What is RevPAR? RevPAR (revenue per available room) is the most common measure of success of a hotel’s revenue and marketing strategy. It is actually a very simple measure, and is a better performance indicator than ADR (Average Daily Rate). How to calculate RevPAR ? It can be calculated using the following RevPAR formula: […]
Why are we offering a hotel technology academy?
We have put a lot of care and hard work into building RoomPriceGenie (and we hope it shows when you use it). You could call it a labour of love – we listen to customer feedback and really put our hearts into making their experience better and their revenue higher. When the idea of building […]
Are you dynamically changing the price-gaps between your room types?
How much more should a superior room cost than a standard room? How much cheaper should the economy room be? What about the family room? The answer is, of course, that it depends. We know you were probably hoping for a more definitive answer here, but maybe we can ask the right questions to help […]
Revenue Management basics for smaller hotels
What is revenue management? Pioneered by the airline industry in the early 1980s, revenue management is a way of pricing and marketing products that are perishable; in other words, if you don’t sell it tonight, you can’t sell it tomorrow. Revenue management is the process of achieving full financial value for what you offer, but […]
Replacing BookingSuite’s RateIntelligence: alternative solutions for independent hotels
Booking Suite’s RateIntelligence is coming to an end, but all is not lost. Here are some alternative options.
Behavioural Economics and Hotel Revenue Management
Hotel revenue management is about more than just making the most money for your room tonight We often hear hotels saying that they don’t change their prices because regular customers like the fact that their prices stay the same. Their feeling is that consistency builds loyalty. This is certainly true. To some extent we are […]
What is Revenue Optimisation?
What does revenue optimisation mean for hotels? We try to simplify it for you.
8 Digital Marketing Tips for Smaller Hotels
I have been privileged in the last week to speak to two experts in the field of digital and social media hotel marketing – Are Morch and Sébastien Félix of Influence Society. Both had a similar, and important messages. In this post, I am looking at what this means for smaller independent hotels. First, with […]
7 Revenue Management Differences Between Smaller and Larger Hotels
The importance of revenue management Revenue Management is an extremely important subject for all hotels; large and small. The difference between a hotel that carefully manages its revenue and one that does nothing could be as much as 20% of revenue per year. Since most hotel costs are fixed, this means a huge difference in […]
Revenue Management and Hospitality Technology in Switzerland
We were fortunate enough recently to have a project on us carried out by an SBP team from the world renowned Ecole hôtelière de Lausanne. As part of their excellent project, they conducted a study into current practices in revenue management and hotel technology in general. You can download the full, fascinating report below. They […]
Revenue Management Software for Beginners
At RoomPriceGenie, we speak to a lot of hoteliers. Although they all know that revenue is important (that’s why they are talking to us), often the whole subject is very confusing. So we thought we’d break it down a little and make the world of revenue management software a little more bitesized. A quick disclaimer […]
Free cancellation – How should you price it and should you even allow it?
Mixed Feelings?! Many small hotel owners have mixed feelings about free cancellation. On one hand, by offering it you are undoubtedly increasing the number of bookings you get. On the other hand, it can mean being left with empty rooms at short notice. Larger hotels have less of a problem with this, as they are […]
How many different rates should you offer? Science says 3! – Yield Management for smaller hotels
Some clients want breakfast, some don’t. Others value free cancellation, others don’t. Some clients are very price sensitive, some are more value sensitive and some just want the best. When you are setting your different rate categories there are a lot of things to think about. Standard yield management theory says “sell the right product; […]
Hotel Management Software – How does it all fit together?
GDS, CRS, CRM, PMS, RMS, Channel Manager, Booking Engine. Cloud-based, On-site based, yield management, revenue management, rate parity, blah blah blah, RevPAR. If this is what your search for hotel management software has looked like so far, let us try to help to fit it all together. The diagram above shows a simple hotel software […]
Hotel Software – 7 Attributes of a Good Property Management System
Hotel software is a very confusing area if you are trying to work out what is best for your hotel. And there are no easy answers. At RoomPriceGenie.com we don’t sell a property management system (PMS). Instead we make revenue management software (also known as yield management software) that links into the property management system, […]
