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PODCAST with RevenueHub: Hotel Revenue Management Capabilites – Strategy, People, Technology
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.
PODCAST with RevenueHub: Why Market Segmentation is Crucial to Your Revenue Strategy
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 […]
PODCAST with RevenueHub: The Importance of Market Share in Revenue Management
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 […]
PODCAST @RevenueHub: Total Revenue Management
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 the level […]
A guide to an optimal group quotation process
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 […]
Will Opaque be your best friend in low season?
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 […]
The importance of measuring your distribution costs
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, […]
Introducing market share index numbers for MICE business
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. […]
Market Segmentation – Know where your hotel demand comes from
In today’s hotel landscape, we still often find hoteliers not being fully aware of the benefits of categorising their business into relevant segments. However, if you want to be successful in the way you manage your business and start applying sound revenue management practices, it is an essential step to have a clear idea of […]
Revenue management technology – a low, mid or high-tech approach?
Taking a walk through the E-travel halls of the major industry fairs like ITB in Berlin or WTM in London and seeing all the technology options available leaves many hoteliers perplexed. It is not easy to navigate through the selection process of these systems and knowing which of them to choose. In the field of […]