Hotel Industry

Avoid These 3 Benchmarking Errors for Hotel Revenue Success

Revfine.com2024-05-09T13:17:29+02:00

As a revenue manager, you're undoubtedly aware of the importance of gauging your hotel's performance to maintain a competitive edge in your market. Yet, how can you be certain that you're genuinely on par with, or preferably ahead of, your competitors? Enter benchmarking for hotel revenue management. Benchmarking for Hotel Revenue Management: 3 Cardinal Errors Benchmarking offers the essential context

Avoid These 3 Benchmarking Errors for Hotel Revenue SuccessRevfine.com2024-05-09T13:17:29+02:00

Boost Hotel Revenue with CRM and Digital Marketing Integration

Revfine.com2024-05-07T13:01:42+02:00

Your hotel CRM isn’t only the hub for your guest-facing operations. It can also supercharge your hotel’s digital marketing by leveraging real-time guest data to shape your strategy. However, hotels cannot rely on their CRM’s guest profiles alone – they need to utilize that data to enhance and personalize their digital marketing campaigns. Maximizing Hotel Profitability with Integrated CRM and

Boost Hotel Revenue with CRM and Digital Marketing IntegrationRevfine.com2024-05-07T13:01:42+02:00

Mastering the Art of Multi-Property Management

Revfine.com2024-05-07T13:02:30+02:00

This article explores the nuances of managing multiple hotel properties. It emphasizes the importance of creating a unified guest experience, utilizing advanced technology to enhance operational efficiency, and incorporating local cultures into service delivery. You find three topics that discuss increasing guest loyalty, optimizing revenue, and maintaining competitiveness in the hospitality industry. Introduction to the Dynamics of Managing Multiple Properties

Mastering the Art of Multi-Property ManagementRevfine.com2024-05-07T13:02:30+02:00

How to Attract Different Segments Through a Diverse Distribution Strategy

Revfine.com2024-05-07T13:02:27+02:00

With so many ways to reach potential guests, developing an effective distribution strategy is more important than ever. Leisure demand is slowing down after years of exponential growth post-pandemic, while other segments, namely international, corporate, and group travel, are starting to pick up again. For hotels seeking to increase their bookings and maximize their revenue, it is crucial to explore

How to Attract Different Segments Through a Diverse Distribution StrategyRevfine.com2024-05-07T13:02:27+02:00

Why Revenue Management Systems Will Never Replace Human Revenue Managers

Revfine.com2024-05-07T13:02:52+02:00

When the desktop computer came along, it needed human input. It’s no different with an RMS (revenue management system.) Even an AI-enabled RMS can’t think independently (and that’s a good thing!) You’ve probably heard plenty about AI (artificial intelligence) chatbots that learn from biased human language and “deep fakes,” which are the 21st c. version of Photoshop. These are just

Why Revenue Management Systems Will Never Replace Human Revenue ManagersRevfine.com2024-05-07T13:02:52+02:00

Interview with CEO and Founder Uli Pillau of Apaleo

Revfine.com2024-05-22T14:29:10+02:00

In this interview, we'll be talking with Uli Pillau. Pillau founded Apaleo, the world's first API-driven property management platform for the hotel industry, based upon an API-first architecture. This has created a full development hub for the industry as a whole. Can you tell us a bit about yourself? I'm a start-up entrepreneur

Interview with CEO and Founder Uli Pillau of ApaleoRevfine.com2024-05-22T14:29:10+02:00

Exploring Hotel Revenue Trends for 2024: Insights & Real-World Examples

Revfine.com2024-04-21T13:46:06+02:00

The year 2023 has brought about significant changes in the hotel industry, with revenue management practices and trends evolving rapidly. As these trends continue to take shape, their impact will undoubtedly shape strategies and operations well into 2024. This article provides valuable insights into the key factors influencing the financial landscape of the hotel industry, offering practical examples from hotels

Exploring Hotel Revenue Trends for 2024: Insights & Real-World ExamplesRevfine.com2024-04-21T13:46:06+02:00

5 Touchpoints You Can Automate to Save Time in Your Hotel

Revfine.com2024-04-22T11:30:06+02:00

In the fast-paced world of hospitality, hoteliers often find themselves juggling multiple responsibilities. One way to streamline marketing efforts and improve overall efficiency is by automating some of your touchpoints with guests. The good news is that this is not difficult to do. By setting up intelligent triggers that automate specific actions, hotel managers, front desk, or marketing teams can

5 Touchpoints You Can Automate to Save Time in Your HotelRevfine.com2024-04-22T11:30:06+02:00

Steps for Success: Evaluating and Pricing Group Business

Revfine.com2024-05-22T18:27:23+02:00

Group business is an undeniably important piece of the revenue puzzle for hotels. However, not all group revenue is equally valuable or desirable. To achieve an ideal mix of group and transient business, hotels must undergo a detailed evaluation process—one that can be greatly aided with an advanced revenue management system. Ten Crucial Steps to Evaluating and Pricing Group Business

Steps for Success: Evaluating and Pricing Group BusinessRevfine.com2024-05-22T18:27:23+02:00

Unlocking Insights and Revenue Potential with Room-Type Analytics

Revfine.com2024-04-22T11:30:15+02:00

In a hotel, understanding the dynamics of room types and leveraging this understanding can significantly impact revenue, profit, and guest satisfaction. Room-type analytics is a vital component of any hospitality Business Intelligence platform and offers hotels a deeper insight into their inventory’s performance. Data-driven decisions based on Room-Type Analytics enhance profitability and guest experience. This article dives into Room-Type Analytics,

Unlocking Insights and Revenue Potential with Room-Type AnalyticsRevfine.com2024-04-22T11:30:15+02:00

Ten Steps to Successfully Introduce AI to Your Hotel Teams

Revfine.com2024-04-22T11:30:34+02:00

If you plan to roll out a new smart technology or artificial intelligence tool at your hotel, you need to design a thorough team onboarding process. Getting your hotel staff on board with a new solution is key to successful adoption and operational efficiency, but it can also positively impact employee morale and retention. Many hoteliers miss out on this

Ten Steps to Successfully Introduce AI to Your Hotel TeamsRevfine.com2024-04-22T11:30:34+02:00

Restaurant Revenue Management Strategies for Successful Managers

Martijn Barten2024-06-01T13:51:25+02:00

Getting your restaurant revenue management strategy right can be critical for your business's success. In this article, you'll learn everything you need to know about revenue management: what it is, what it can do for your business, and how to craft and implement the perfect strategy. You'll also discover key tactics and ways to apply them to your restaurant. Table

Restaurant Revenue Management Strategies for Successful ManagersMartijn Barten2024-06-01T13:51:25+02:00

An Overview of Metrics Every Revenue Manager Should Track

Revfine.com2024-04-08T16:28:00+02:00

Navigating the complexities of hotel revenue management isn't easy. From demand forecasting and rate negotiations to inventory management and competitor analysis, there are plenty of challenges to keep revenue managers on their toes. But technology is changing the game. Today's revenue managers have powerful tools at their disposal that can help them streamline operations and focus on strategic optimization. The

An Overview of Metrics Every Revenue Manager Should TrackRevfine.com2024-04-08T16:28:00+02:00

New Sending Requirements for Email Marketing for Hotels, and What Happens if They Don’t?

Revfine.com2024-04-10T12:00:29+02:00

Back in February, two of the biggest players in the inbox space — Gmail and Yahoo introduced stringent rules to safeguard users' inboxes from scammers and spammers. These rules signify a pivotal shift in the ever-evolving landscape of email marketing. To ensure your marketing emails reach their intended recipients, it's crucial to comprehend and adhere to these new requirements. New

New Sending Requirements for Email Marketing for Hotels, and What Happens if They Don’t?Revfine.com2024-04-10T12:00:29+02:00

3 Key Strategies for Mastering Revenue Management with PMS Data

Revfine.com2024-04-10T16:57:06+02:00

Data fuels the commercial operation of a property and empowers hotel Revenue Managers to make informed decisions, outpace rivals, and ultimately boost profits. When discussing data, there's no resource more crucial than your Property Management System (PMS). How to Master Revenue Management with PMS Data: The 3 Strategies Your PMS is the core of your hotel's daily operations, monitoring everything

3 Key Strategies for Mastering Revenue Management with PMS DataRevfine.com2024-04-10T16:57:06+02:00

8 Signals Your Hotel Pricing Needs Adjustment

Revfine.com2024-04-08T16:30:08+02:00

Recent studies reveal that prices perceived as unfair trigger discomfort in consumers, leading to reduced purchases, complaints, and negative reviews. Conversely, fair prices activate pleasure centers, enhancing customer satisfaction.[1] This underscores the importance of finding the sweet spot for your hotel's room prices: the perfect balance between attracting (happy) guests and maximizing revenue. Build a Foundation for Effective Hotel Pricing

8 Signals Your Hotel Pricing Needs AdjustmentRevfine.com2024-04-08T16:30:08+02:00

15 Essential Hotel Marketing Strategies

Martijn Barten2024-06-05T14:51:19+02:00

The importance of having the right hotel marketing strategies is difficult to overstate, as it is a key part of launching a hotel, optimizing the number of bookings you generate, building brand awareness, and managing your reputation. In this article, you will learn more about some of the essential strategies to adopt at all times. Table of Contents: 15

15 Essential Hotel Marketing StrategiesMartijn Barten2024-06-05T14:51:19+02:00

Strategies, Tactics, and Insights for the Hotel Industry

Optimize revenue, innovate processes, and improve customer experience