I always get thrilled by how much money hospitality leaders or successful businessmen make. No doubt, the exact numbers would be overwhelming. But the efforts that go behind it are no less. To reach such heights in terms of profit or revenue generation one needs to have immense knowledge of the hospitality industry and its marketplace. (As knowledge alone creates all the difference.) This is why every hotel owner puts a lot into serving its guests but only a few get an impressive revenue collection.  Most of the time, this happens because of the fragile pricing strategies hoteliers set up ..read more

Like any other business, hotels need to generate revenue in order to survive. But with the ever-growing competition, how can small hotels keep up? How can small accommodation providers keep revenue flowing? In this article, I will discuss some sales and marketing strategies to increase revenue for small hotels and stay afloat. Wait, there’s also a bonus. I will also tell you about some revenue-generating ideas for small hotels that don’t include selling rooms. Sounds good? So without further ado, let’s find out how to increase revenue in small hotels and help them thrive! Table of Content Str ..read more

Revenue management is the talk of the town in the entire hospitality industry. Accommodation businesses from all around the world are significantly doubling down on it. Not to mention, even I have been a lot more vocal about this sought-after hospitality phenomenon lately. However, there’s still more to cover. Today, this blog is going to be all things hotel revenue management systems. I am not just going to give you an overview, but also help you learn about the features that make it worth it, and how you, a hotelier can pick the right system from the right vendor. Table of Content The Curre ..read more

Revenue management has become commonplace in the hotel industry. A hotel with the right set of revenue management strategies is in a much better place than the ones without. But what makes revenue management so prominent? Data, data, and data! They said data is the new oil. Well said. And today, in this blog, I am covering an interesting type of data that lately has become a fuel for revenue managers in improving their strategies. Let’s look at what this data is and how it is transforming the hotel industry for the good. Table of Content What is Future Demand Data? How is This Data Relevant t ..read more

There are numerous hurdles that a hotelier needs to overcome while running a hotel. Out of which, people only talk about the mainstream ones. What I am trying to say here is that there are a lot of underlying voids in a hotel’s operational aspect that goes unnoticed. And these are the ones that cause major damages. One such void is a Broken Pricing Strategy. No idea what is it? Suppose you have implemented some sort of tactic in setting your room prices. But for one reason or the other, it isn’t driving any results. You still believe that your strategies are fine and perfect. But your rooms ar ..read more

Revenue Management! Revenue Management! Revenue Management! Yes, that’s what I am talking about (AGAIN) in this blog. But why am I emphasising (I would rather say re-emphasising) on it?  It’s because hotels are still not taking this strategy seriously. They are either operating in denial or under the influence of some myths. That shouldn’t be the case, at all. Revenue management is a blessing in disguise. And with this blog, I am going to put the accent on the importance of hotel revenue management. Table of Content Revenue Management for Hotels is REAL Why are Hotels Still Shying Away f ..read more

Revenue management is a burning topic in the hospitality industry. From the very get-go, it has been impacting the industry as well as hotels in various ways. At present, revenue management systems are gaining a lot of traction. And why not? After all, there are a bunch of hotel revenue management software benefits.    And in this article, I am going to talk about some of those aspects that make revenue management systems a great deal for hoteliers. Table of Content What is a Revenue Management System? Benefits of Revenue Management Software Integrates with a property management s ..read more

Recently, I was on a work tour to Bangalore. And fortunately or unfortunately, I missed my return flight. But, instead of returning to the hotel, I booked a hotel near the airport itself. In the evening, while strolling down the street, I noticed something that only hospitality enthusiasts would do. Compared to the hotel I was staying at, the other hotels were a little crowded and it seemed that they were making a good profit. That’s when my curious blogging soul asked me to cancel my flight and check into another hotel after this stay. But, why would I do that? Because I AM RICH!! Just kiddin ..read more

One thing that I always dislike while booking hotels is incomplete and missing packages. Let me explain it in detail. A couple of days ago, I was trying to book a hotel for my relatives (I know that’s odd). They had specifically asked for a half board meal plan, i.e. with breakfast and dinner.  However, when I started searching for properties, most of them had either Continental or European plans only. And after applying multiple filters, I was left with only a handful of choices that were quite expensive. After some hustle, I somehow managed to book a hotel for my guests. But out of curi ..read more

Revenue management today is more than just a buzzword in the hospitality industry. Accommodation providers from all around the world are buying sweepstake tickets to this strategy of boosting revenue. Those who have already incorporated revenue management for their hotels are reaping tremendous benefits. But the ones who didn’t and want to bet on it now seem to be in a dilemma. Revenue management is great. But what should I go with — in-house or outsourced? This is by a long chalk one of the biggest questions that hoteliers have when it comes to revenue management. So, what’s the answer? What ..read more