Hotel Industry Trends - Yield Management

Revenue management of hotel inventory has long been the practice for hoteliers worldwide, both large and small, chain and independent. Hotel operators understand and accept the need to forecast customer demand at some level of detail and recommend product availability conditions that will deliver the maximum revenue based on that demand. However... - More

A solid understanding of revenue management’s key concepts and application of its most effective strategies and tactics have become mission critical for most hospitality operations. The new EI textbook, Revenue Management: Maximizing Revenue in Hospitality Operations, by Gabor Forgacs, presents a concise overview of effective revenue maximizatio... - More

I first started writing about revenue management in 2001 and, frankly, I haven't seen overall business conditions change too much since then; markets are highly competitive and many hotels are still openly discounting rates to drive business. - More

U.S. lodging experts forecast another year of declines for hotel room rates and profitability as the industry continues to grapple with weak demand and a growing supply of new rooms. - More

Guests Say Familiar Hotel Revenue Management Practices Are Fair Practices - More

From economy to luxury hotels, existing and proposed, knowing the sources, habits, and prevalence of future patrons is crucial to success. - More

Over the past year I have seen hotels focus more on driving occupancy than rate to improve their RevPAR. While hotels may not be able to achieve the higher average rate of the pre down turn, there are opportunities locally they can exploit locally to drive rate even in the current economic environment. - More

All reports continue to show that meetings and corporate incentives are going to continue to be down so focus your sales efforts on the internet. Despite a lingering recession, the advantage of online sales is that your actions today can result in bottom line room night sales in as little as 4 weeks - and these last unexpected room sales will tr... - More

The Smith Travel Research Hotel Data Conference last month revealed that more than 50% of hotel industry professionals believe that industry-wide RevPAR rates will not recover until the third quarter of 2010 or after. - More

In today's environment revenue management is most often recognized as the central place for hotel operations' processes and best practices. Revenue management has many elements that 'touch' a hotel's revenue. Some elements have a direct impact on revenue such as accurate forecasting and a solid understanding of channel costs, while others have a... - More