Take the Survey: Hospitality Revenue Management
Posted December 2nd, 2017
The 2018 Smart Decision Guide to Hospitality Revenue Management, revised, expanded and updated from this year’s edition, and again underwritten by the leading revenue management solution providers (Duetto, IDeaS, Infor, Rainmaker and RateGain), publishes at the end of next month. The new research and analysis will focus on how top-performing hotels and resorts are utilizing revenue management strategies and next-generation technology solutions to drive continuous improvement in occupancy, ADR and RevPAR. The tools that enable revenue management have evolved rapidly in recent years. Today, a state-of-the-art solution is capable of generating tens of thousands of optimal pricing and overbooking recommendations each day based on real-time analysis of all relevant data. The best of these solutions make it possible to fully automate the decision-making process, adding revenue and profits from not only guest rooms but from all parts of the hotel property to the balance sheet. Click here to take the survey that serves as the basis for the new research.
Spotlight on Hoteliers: Challenges and Opportunities
Posted October 17th, 2017
These are heady times for hoteliers, many of whom have plenty of reason to celebrate. The latest industry reports paint a rosy picture of overall hotel performance as properties in many parts of the world achieve record-breaking occupancy and revenues. In the United States, for instance, hotel revenues reached almost $200 billion in 2016. That is an increase of nearly $10 billion over 2015, according to estimates, with net profits in the range of $76 billion, an average 2 percent increase in RevPAR.
Not to put a damper on the celebration, but hoteliers should recognize that the current growth wave may not continue for long. In fact, the party may already be fizzling. Net profits for U.S. hotels rose only 4 percent last year, the lowest rate since 2009. Negative RevPAR growth is not beyond the realm of possibility. Hoteliers should be prepared for this eventuality.
Restaurant Management and POS Systems for Hotels and Resorts
Posted December 17th, 2016
With restaurant POS systems accounting for the largest portion of the budget for restaurant IT investments, the providers of these solutions are vying for the attention of prospective buyers, including hotel and resort operators. As it happens, some of the leading POS solution providers are also leading providers of hotel property management systems (PMS). These solution providers have a distinct advantage over restaurant-only vendors in that they are able to serve hotels with fully integrated technology capabilities.
Next-Generation Hospitality Technology: Automating for Success
Posted August 15th, 2016
Hospitality technology has evolved by leaps and bounds in recent years. In fact, until recently, there was no single software application for managing, let alone automating, all of the different functions that take place at a hotel or resort in a unified and integrated fashion. Instead, hoteliers typically used function-specific software programs — often in conjunction with Excel spreadsheets and age-old manual processes — to run their day-to-day business operations.
Charting a Course for Success in Hospitality Revenue Management
Posted January 27th, 2016
Yield management is hardly a new concept. Airlines have been using supply and demand data to maximize their revenues and profitability for decades. A fast-growing number of hotels, resorts and other lodging properties have followed suit with their own variation of the game. In most cases, their efforts have been a resounding success and their technology investments in what is commonly known as Hospitality Revenue Management have paid off in spades.
Hotel PMS: How to Measure ROI
Posted December 17th, 2015
Every technology investment needs to ultimately translate into positive financial outcomes. Otherwise, what’s the point? When it comes to gauging the potential return on investment (ROI) on upgrading to a next-generation PMS, the first question to ask is: To what extent will the new system reduce the amount of time currently being spent on managing front desk activities, including check-ins and check-outs, and on such mundane (but time-consuming) tasks as consolidating guest accounts and managing rates and availability across distribution channels, including OTA, GDS, Web, and travel agents?