Posted September 10th, 2018
Most hotel operators view the need to progressively improve their revenue management capabilities as a strategic imperative worthy of garnering ever-increasing amounts of attention and resources, given the opportunity to improve financial performance in highly predictable ways. For most hotel operators, the investment in upgrading their revenue management capabilities has paid off in spades. In fact, according to research conducted for The 2018 Smart Decision Guide to Hospitality Revenue Management, large and very large hotels have enjoyed, on average, a 10 percent increase in RevPAR, often resulting in millions of dollars in additional profit. Midsize and limited service hotels have faired only slightly less favorably, with a 7 percent average increase in RevPAR. Of course, not all revenue management initiatives are the same. Different approaches, technologies and resources produce dramatically different results. The fifth annual edition for this Smart Decision Guide, publishing in January, will offer hotel operators a framework for upgrading their revenue management capabilities and insights for selecting the right solution in the context of their hotel or resort’s specific needs. It will also offer practical advice for putting the right resources, processes and metrics in place to maximize success and drive continuous performance improvement. Take the survey here.
As a token of appreciation, you will receive a PDF of the report when it publishes. You will also receive a $20 gift certificate to HotelClocks.com (a division of Timely & Timeless Exquisite Clocks Emporium) and your name will be entered into a drawing to win one of two HERMLE PATTERSON MECHANICAL TABLE CLOCKS (valued at $200). Your responses will be used in the aggregate only and your contact information will not be shared with any third party.