Tag: Basics of Revenue Management
9 things we’ve learned by doing pricing for hundreds of smaller hotels
Running a hotel is a lot of work. And pricing is often a secondary consideration, with the guest experience coming first. Sadly, the people who give so much energy to the guests may be missing out on many profit opportunities. We have helped hundreds of small hotels set their prices and make the most of […]
Your hotel’s prices are probably too low!
We often find that the hotels we set up are not, in our opinion, charging enough for their rooms. Especially now, in a post-corona period, when everything is uncertain, many hotels choose to sell low rather than sell their rooms for a good deal. Why do hotels keep their prices too low? Hoteliers often don’t […]
Implementing your revenue management strategies when using an RMS
How often should I intervene when using an RMS? We always say that a perfect pricing strategy is a combination of human and machine. The human role is to set up the strategy, rate policy and expertise in a context that the machine doesn’t have. The computer then does all the calculations to get perfect […]
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 […]
What is Revenue Optimisation?
What does revenue optimisation mean for hotels? We try to simplify it for you.
The 10 Best Revenue Management Software Providers and Which One is Right For Your Hotel
Revenue management software is the hottest topic in hotel technology these days. But although everyone is talking about it, not many people have it. A recent Skift report showed that only around 5-10% of hotels are using software and theses are almost exclusively large chains. So what’s it all about? And what’s the best option […]
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 […]
5 Reasons Why Serviced Apartments and Vacation Rentals Should Be Using Revenue Management
The world of revenue management has come a long way from its airline beginnings. With new developments and technology, what was once reserved for the multi-million dollar airline companies and huge hotel chains, is now available to managers of even the smallest serviced apartments. Getting your prices right and maximising your revenue has never been […]
How Revenue Management and RoomPriceGenie Can Help Small Hotel Chains
The expansive and ever-growing hospitality industry has made way for an increasingly dynamic market. From a one-room Airbnb apartment to multi-billion dollar hotel chains, the industry is putting increased demand on its technology to meet its varied needs. Small independent hotel chains have often fallen through this technological gap. In particular, revenue management software seemed […]
