The advancement of AI and automation over the past few years has transformed the hospitality industry. New technology enabled gathering and evaluating vast amounts of data, quickly making informed decisions, and lifting the topline. Especially in the revenue management department, new AI-powered solutions offer the real-time market insights hoteliers need to optimize, adjust and even The post How to Combine Human and AI Collaboration for the Best Hotel Results appeared first on Revfine.com ..read more

When hoteliers, hotel owners, or management seek the help of a revenue management consultant or outsourcing company, they often mention something like, "We've casually practiced revenue management in the past." As the consulting engagement kicks off, these hospitality professionals will say they understand the discipline even though they lack a structured approach. Yet, revenue management The post Revenue Management is About Much More Than Pricing appeared first on Revfine.com ..read more

Managing hotel restaurants may be challenging. Ultimately, one might say maintaining a hotel as a whole is likely enough effort in and of itself, not even to mention trying to figure out how to ensure the hotel restaurant operates to its fullest potential. However, in the long run, it pays to consider ways to boost The post 15 Strategies to Boost Hotel Food and Beverage Revenue appeared first on Revfine.com ..read more

Data is the blood life – or oxygen – for businesses, but only if one knows how to make sense of it. The sheer volume and scale of data available to hoteliers today are immense, and operators are finding new ways of turning the overwhelming deluge of information from a curse into a blessing. The The post Where is the Data? How Hotels are Changing Targets for Data Collection appeared first on Revfine.com ..read more

There's no doubt that 2022 brought terrific developments for the hospitality industry. Most countries reopened their borders and did away with travel restrictions, and demand matched or even exceeded 2019 levels. However, it's not smooth sailing all around. Our sector faced many ongoing challenges due to the pandemic, and some new issues cropped up, too. The post Moving Ahead Towards The Light: The Hospitality Industry’s New Trials and Possibilities appeared first on Revfine.com ..read more

Data analytics is, of course, helpful to better understand your hotel’s direct channel performance, but what’s most useful is being able to compare your results to the market to identify potential growth drivers. The Benefits of Hotel Benchmarking Hotel benchmarking enables you not only to access competitive insights but to make better-informed decisions and take The post 4 Key Metrics for Your Hotel’s Direct Channel Success appeared first on Revfine.com ..read more

Few hoteliers use front desk upselling to the max. Not only do the front desk employees need to stay up to speed with all the upselling deals, but they also need to be comfortable using essential communication skills and marketing techniques. In short, to get it right, you need to read each situation correctly and The post How to Communicate Your Front Desk Upselling Deals Effectively appeared first on Revfine.com ..read more

There is no shortage of data in the hospitality industry. From travelers browsing your website to entering information on OTAs and post-stay surveys, hoteliers collect immense amounts of hotel data daily. For this data to be useful, it must be organized and filtered, so it's decipherable and helps guide decision-making. Decisions Based on Business Intelligence The post How To Leverage Data Across 4 Key Hotel Departments appeared first on Revfine.com ..read more

Hotels looking to optimize profits must break the silo mentality. They must align their teams and synchronize their knowledge. In this article, you'll learn how to break siloes and foster synergies to optimize hotel profits. Steps to Creating a Connected Commercial Organization The movement toward commercial revenue is a good start. Many hotels have brought The post Break Siloes and Foster Synergies to Optimize Hotel Profits appeared first on Revfine.com ..read more

Food and beverage (F&B) data is considered a gold mine in the hospitality industry. From the moment your guests make an online reservation, to the time they leave your restaurant, your POS system or an advanced reservation platform generates valuable guest data. In this article, you'll learn how to use F&B data to improve guest The post How to Use Food and Beverage F&B Data to Increase Hotel Revenue appeared first on Revfine.com ..read more