I don’t want to claim that I’m the first one to address this subject. But, from my research I can conclude that there are few officially accepted “meeting, incentives, conference, exhibitions” (MICE) key performance indicators (KPIs) in general. They all seem to differ in their acronym depending on where you look and who you ask. […]
Taking a walk through the E-travel halls of the major industry fairs like ITB in Berlin or WTM in London and seeing all the technology options available leaves many hoteliers perplexed. It is not easy to navigate through the selection process of these systems and knowing which of them to choose. In the field of […]
Simply put, a hotel that doesn’t apply overbooking is losing a big chunk of profitable revenue, as normally the high BAR rates are sold last. On days when there is incremental demand, i.e. more demand than a hotel has capacity for, the opportunity to sell 100% of the rooms is there. In a market with […]
To maximise the revenue performance during a fair or high impact event might be easier said than done. Many rely on returning business to bring in a safe level of base occupancy to a slightly higher rate and surely their ADR and RevPAR will increase accordingly a couple of euro. But is that enough? What […]
We hope you have had a successful start in 2017 and that you will see prosperous revenue increases this year as a result of your set strategies and learnings from the past. Even though the year just started, it is soon time for the yearly contracting season of your wholesaler (WS) and tour operator (TO) […]
Time flies and with 2017 around the corner there aren’t many months left before the corporate request for proposal (RFP) process starts once again. We hope you have had a successful RFP season in 2016 and that your results in 2017 will prosper as a result of your strategical contracting decisions. In this piece, which […]
At berner+becker we strongly believe that building up a revenue culture in a hotel is crucial to success, and education is central to creating that culture. We couldn’t agree more with Jack Welch, former CEO of General Electric who said “An organization’s ability to learn, and translate that learning into action rapidly is the ultimate […]
Market share key performance indicators (KPIs) are some of the most important statistics measured by hoteliers today, constantly monitored by revenue managers, hotel directors and owners. Those are the numbers verifying if your revenues are performing well enough towards your defined competitive set (compset) in the market which usually consists of 5-6 carefully selected hotels. […]
Anyone who has set foot in a professional kitchen and “accidentally” walked behind the kitchen pass without a proper uniform (and especially if you added some extra salt to the stew without asking) knows that the chef would become furious. A revenue manager can respond a bit in the same way if someone makes unjustified […]
I know it is lame, but the standard definition simply has to be mentioned: Revenue management is selling “the right product to the right customer at the right time to the right price” (Cross, 1997). Furthermore I would like to add; through the right channel.The above definition is correct but leaves out some additional information […]
