Finally, Total Revenue Management promotes a more unified and collaborative workforce by integrating all departments in the revenue management process. When all departments understand and contribute to revenue generation, it can also spark innovative ideas for revenue optimization. The role of technology i...
Ideas to boost ancillary revenue for your hotel Now that we have an idea of ancillary revenue’s meaning, and what it looks like in practice, let’s take a closer look at exactly how to generate this extra revenue. Here are nine ancillary revenue ideas, and how you might bring them to ...
Pricing intelligence. Timely pricing data from a well-thought-out compset allows marketers to see which hotels do or don’t have availability, how much they charge for each of their various room types, and their pricing strategies for the various seasons and days of the week. A firm understa...
IDeaS Revenue Solutionsis one of the leading providers of revenue management software and services. IDeaS offers advanced analytics and forecasting tools to optimize pricing decisions for hotels of all sizes. BeonX, formerly known as Beonprice, is a revenue management solution for the hospitality indu...
14684.html; http://www.hotelschool.cornell.edu/research/chr/pubs/reports13848.html) has shown that generally, Hotels which discount do not achieve a higher RevPar. Ask yourself the followingquestions before making any ratedecisionsby Klaus Kohlmayr...
In this blog, I have tried to cover every nook and corner of the yield management for hotels. Apart from this, you don’t have to outsource it from third-party revenue management agencies or hire a revenue manager. You can do it on your own with the advanced technology s...
Looking for inspiration? Here are standout ideas from hotels that turn New Year’s Eve into a high-revenue celebration: Private Sky-High Celebrations:Hotels with rooftop bars or scenic viewpoints host private New Year’s Eve events featuring premium open bars, gourmet dining, and unmatched views...
Looking to discover, learn, and implement new ideas in your business? Check out the collection of assets in our Content Library to access the latest thought leadership, reports, and other tools. Visit Now Upcoming Events Cvent Hospitality Cloud hosts a variety of events to help hotels and des...
It provides a completely new perspective on our business,” said Veli-Petteri Korpi, business manager, SOK Travel Industry Chain Management for Sokos Hotels. “At IDeaS we have had the privilege to work with some of the largest and most complex global hotel chains, and we’ve come to ...
And technology for revenue management is likely to become more conversational, according to Klaus Kohlmayr, chief evangelist and development officer atIDeaS. He likened the experience to working with a personal assistant. “Everything from asking questions, troubleshooting support issues, forecasting, pri...