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 The post An Overview of Metrics Every Revenue Manager Should Track appeared first on Revfine.com ..read more

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 The post 3 Key Strategies for Mastering Revenue Management with PMS Data appeared first on Revfine.com ..read more

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 The post 8 Signals Your Hotel Pricing Needs Adjustment appeared first on Revfine.com ..read more

A revenue management system (RMS) is a fantastic tool for attracting demand from high-value guests, driving efficient operations, improving revenue performance, and increasing profitability. Of course, the best tools in the world won't do your property much good if your staff isn't bought in on their proper usage and equipped with what's needed to get The post Hotel Revenue Management System Adoption: Tips for a Smooth Transition appeared first on Revfine.com ..read more

Pick-up analytics are essential for hotels to forecast demand, optimize pricing strategies, manage inventory, marketing, and improve revenue management. In this article, we will dive into the world of Pick-up Analytics. You will learn what Pick-up Analytics is and how to use it to help your hotel optimize performance. What is Pick-up Analytics? In short, The post Master Pick-up Analytics: Learn Why & How They Elevate Your Hotel appeared first on Revfine.com ..read more

Profitability is a business's ability to generate earnings from its operations over a given period. Various methods, known as profitability ratios, gauge a business's overall profitability. This article explains the different profitability ratios and explains how revenue management can positively impact profitability. Insight in Profitability Ratios Profitability ratios provide insight into how a business is The post How to Measure The Profitability of Your Hotel Business appeared first on Revfine.com ..read more

Hotel STAR Report The Hotel STAR Report is a critical performance benchmarking tool in the hospitality industry, providing detailed revenue and occupancy data compared to competitors. It is important because it helps hoteliers make informed pricing, marketing, and operational decisions by understanding their market position and identifying trends. Ultimately, it aims to boost profitability and The post Hotel STAR Report: Clear Introduction for Hoteliers appeared first on Revfine.com ..read more

Question for Our Revenue Management Expert Panel: Is it realistic to focus on profitability over revenue? How should revenue management teams manage stakeholder expectations? Where might challenges arise? (Question by Diego Fernandez Perez De Ponga)  Our Revenue Management Expert Panel Diego Fernández Pérez De Ponga - Director The post Is it Realistic to Focus on Profitability over Revenue? appeared first on Revfine.com ..read more

In the highly competitive world of online hospitality, mastering the art of OTA listings is not just an advantage—it's a necessity. With most travelers making their accommodation decisions based on OTA rankings and reviews, understanding how to climb these ranks and convert interest into bookings is the key to success. Your OTA listing can distinguish The post 8 Tips to Improve OTA Conversion Rates appeared first on Revfine.com ..read more

The hospitality sector has long underestimated the influence of short-term rental accommodation on their operations, viewing it as a specialized lodging type that wouldn't impact conventional hotel reservations. However, the swift expansion of short-term rentals, spearheaded by organizations like Airbnb and VRBO, has made an undeniable mark on the hotel industry. The Importance of Short-Term The post Short-Term Rental Data: A New Technique to Forecast Demand at Your Hotel appeared first on Revfine.com ..read more