Market share benchmarking is without a doubt one of the most important metrics used today by Revenue Managers, Hotel Managers and Owners. It gives an exact overview of your own sales strategy and sets the revenue per available room in comparison to a well-defined competitor set. Benchmarking allows you to calculate your own market share […]
In this podcast we talk about the topic of Forecasting and why it is an important aspect of your Revenue Management strategy.
In this podcast we are joined by Jens Munch, CEO & Founder of Pace. The wide ranging discussion looks at what Revenue Management capabilities a hotel needs, exploring the interaction between the Revenue professional and RM technology, whilst highlighting the critical importance of an overall revenue strategy to ensure the hotel’s success.
In this episode we will look at Market Segmentation and what it is. Explore why it is so important and what aspects should be segmented. We provide examples and tips as to how best set up and utilise market segmentation, as well as what questions should you be asking yourself once you have established your […]
In this episode we will look at Market Share, what is it? Explore why it is so important and what are the key metrics/kpis that you should focus on. The application of market share can be a bit hit & miss, particularly within independent hotels, and we look at why this may be. We also […]
With RevenueHub we look to explore some of the reasons why it is discussed so often but (still) so rarely implemented. Is it understood beyond the realm of the Revenue Management community? What are some factors that influence it’s ability, or inability, to be implemented? Or, is it actually being implemented broadly, just not to […]
Hotels may receive few to dozens of group requests daily from various partners, however with limited capacity and a need to optimize total revenue, hotels must carefully decide which groups they should make an offer for and which they should decline. So, what factors should a hotel consider when analyzing a group request? Before analyzing […]
With the dawn of the upcoming low season in some destinations across Central Europe, hoteliers and their revenue managers are looking for ways to capture more demand and fill their capacities. But how to do so without cannibalizing your demand which is willing to pay the full amount of your BAR or early-booker-rate? How does […]
In recent years, many articles on Revenue Management and Online Distribution have been written on topics that have either pushed for an increased number of channels and therefore exposure of the individual hotel or the optimization of commission costs per channel. Rarely has yielding or reducing the number of channels depending on demand been mentioned, […]
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. […]