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  • HITEC Special: Revenue Strategy: Not Just a Fancy New Name for Revenue Management

    By Cindy Estis Green. A strategic view of revenue calls for proactive business mix planning and decision-making around deployed resources, well beyond reacting to what comes over the transom. Excerpt from the 2018 HITEC Bytes Special Report.

  • HITEC Special: Forecasting Accuracy: The Living Forecast

    By Jill Wilder. Forward-looking, continuously updated statistical trend analysis is emerging as a strategic tool that performs the practical magic of creating an accurate forecast you can take to the bank.

  • Members Only: IT Spending in the Lodging Industry

    HFTP Research Report: The new USALI Schedule 6 — Information and Telecommunications Systems and the effects thus far on the industry. An analysis of IT spending data in the industry and compliance practices by lodging executives.

  • Primary Club Metrics

    Survey results identify which metrics are most often used to determine performance. By Agnes DeFranco, Ed.D., CHAE; Tanya Venegas, MBA, MHM, CHIA; and Amanda Belarmino

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Knowledge is the Key to Hotel Business Intelligence (Facts are Great but Insights Hold the Value)

The Rainmaker Hospitality and Gaming Blog·21 June 2018
A hotel’s competitive edge is shaped by business intelligence (BI). Forrester reports that although 74 percent of businesses want to be “data driven,” only 29 percent are actually successful at transforming analytics into action. All that data that your hotel collects is only valuable if you can translate it into actionable insights that lead to better decisions and drive business growth. To create real value from BI, hotels must focus on specific strategies that close the loop between data collection and knowledge.
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What Marketers Need to Share with Revenue Managers

The Rainmaker Hospitality and Gaming Blog·20 June 2018
When marketing and revenue management work in unison, there are natural synergies. Revenue management knows where holes in demand are, and marketing knows the consumer preferences to target the right customers to fill those holes.
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The New Era of Data-Driven Guest Experiences

The Rainmaker Hospitality and Gaming Blog·19 June 2018
Since data is transforming the hospitality sector, forward-thinking hoteliers are making the most of historic guest interactions along with real-time and future data sets. Using data to present tailored offers to guests at key micro moments when they are most likely to convert, by means such as customer profiling, offer timing, booking behavior, guest valuation, and most notably, loyalty, is critical in an era where guest seek personalized experiences.
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Better Hotel Guest Data = Better Hotel Guest Insights

The Rainmaker Hospitality and Gaming Blog·14 June 2018
Big data is big right now and getting bigger. Every guest visit, website click, and front desk phone call can provide information that’s analyzed to fuel revenue-making decisions and improve overall guest satisfaction. However, it’s not more data, but better data that provides deeper insights into the realm of your guests. And it is better data that holds the key to your competitive advantage. Let’s take a closer look at what guest data offers the best guest insights to drive personalization and profits.
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4 Things Revenue Management Has that Marketing Needs

The Rainmaker Hospitality and Gaming Blog·13 June 2018
A hotel’s marketing and revenue management departments each hold keys to data that could drive more hotel revenue. Often, however, revenue managers and marketing managers keep this intelligence within their own departments.
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The Art & Science of BI for Hotels

The Rainmaker Hospitality and Gaming Blog· 7 June 2018
Business intelligence (BI) for hotels can be complex because it incorporates multiple disciplines. In a nutshell, BI allows hotels to capture data from internal and external sources (e.g. benchmarks and market data), then analyze and organize it in ways that allow hoteliers to improve business performance. It’s not only technology but a methodology. A powerful management approach that, when done correctly, delivers knowledge, efficiency, better decisions, greater guest experiences, and profit to any hotelier who uses it. So, is BI an art or a science? Actually, it’s a bit of both.
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Pair Up for Profit: Alignment between Revenue Management and Marketing

The Rainmaker Hospitality and Gaming Blog· 6 June 2018
While both marketing and revenue management are vital to a hotel’s success, they typically operate with different perspectives and different tools to achieve similar goals. The question becomes, how much more powerful could the sum be, if these two groups practiced their disciplines in concert?
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The Changing Landscape of Hotel Channel Costs (Airbnb May Now Be in The Mix)

The Rainmaker Hospitality and Gaming Blog·31 May 2018
With rapid technology innovations and customer expectations shifting in new directions, the hotel sector is in a constant state of flux. And that includes the channels hotels use to sell rooms to their customers. In this dynamic environment, distribution channels and their costs are constantly evolving. Hoteliers must be prepared to keep pace by staying abreast of the latest developments and assessing the impact on their bottom line.
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Rainmaker's Profit Solution Series: Save Time by Understanding Demand

The Rainmaker Hospitality and Gaming Blog·25 May 2018
In our next entry to the Profit Solution Series, we explore how guestrev® can help you understand unconstrained demand by segment – not just in the near term but further into the future as well.
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Is Direct Booking Really Best? Right Channeling May Be Better for Your Hotel

The Rainmaker Hospitality and Gaming Blog·24 May 2018
There’s no doubt that there are clear benefits to increasing your direct bookings, for both your hotel and your customers. Hotels save on distribution costs and enjoy higher profit margins, while guests enjoy exclusive loyalty-member rates, along with the ability to earn and use rewards points, and reserve upgrades. And the ability to capture guest data is a key advantage of direct bookings, as the hotel can leverage data in the future for both optimization and personalization.
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What to Look for in Service and Support from Your RMS Provider

The Rainmaker Hospitality and Gaming Blog·23 May 2018
services. And there is definitely no one-sized-fits-all, cookie-cutter solution when it comes to an effective revenue management strategy. You need a reliable, responsive and experienced partner that can give you the power to concentrate on the profitability of your business rather than how to implement, maintain or upgrade RMS technology. Here, we discuss what to look for in service and support from your RMS provider, from training and tailoring the RMS to post go-live support.
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Defining & Leveraging True Guest Value Versus Total Guest Value

The Rainmaker Hospitality and Gaming Blog·17 May 2018
Guests can generate revenue for a hotel in many different ways. Revenue management powered by guest valuation algorithms enable hotels to increase guest wallet share, keeping guest spending on-property instead of losing it to local attractions, restaurants, spas or competitors. True Guest Value, which refers to the accurate valuation of your customer, is distinct from Total Guest Value, which aims to capture data to predict guest spend when on-property. Here, we further detail the difference between True Guest Value and Total Guest Value, and how algorithmic models and data can help you maximize revenue from potential guests.
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Rainmaker's Profit Solution Series: Do More With Less

The Rainmaker Hospitality and Gaming Blog·11 May 2018
Hoteliers are always being asked to do more with less. I would love to say this is industry specific, but alas, it is industry agnostic. Everyone, everywhere, is being asked to do the same. And in that ask is the perfect opportunity. As an industry, we have reached the all-important tipping point of data. It’s all there, available for use. It is the ultimate tool to do more with less. The question is “Are you putting it to good use?”
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Optimizing Your Channel Mix to Maximize Hotel Revenues

The Rainmaker Hospitality and Gaming Blog·10 May 2018
Developing a well-balanced channel mix and distribution strategy holds the key to profitability when it comes to maximizing revenues at your hotel. And there’s no “one size fits all” when it comes to channel optimization. It’s a complex science unique to each individual hotel, and dependent on multiple factors, like marketplace position relative to competitors, geographic location, industry reputation, and more.
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How to Understand the True Costs of Your Hotel Distribution Channels

The Rainmaker Hospitality and Gaming Blog· 3 May 2018
According to Travelport, out of the $2 trillion in annual travel spend in the U.S., $810 billion is booked through indirect channels. And with choices ranging from global distribution channels (GDS), travel agents and consortia, multiple online travel agencies (OTAs), and direct bookings, determining when and through which channels to sell your hotel rooms can be a daunting task.
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How to Balance Benchmarking and Performance

The Rainmaker Hospitality and Gaming Blog· 1 May 2018
Every benchmarking tool in the industry teaches us an index of 100% or more is good, and anything below 100% is bad. However, is this always true? Some believe the biggest mistake the hospitality industry made was creating indices, encouraging hotels to spend more time comparing themselves to competitors than they spend comparing to their own performance. This post will illustrate why you need to take more than competitive benchmarking into account.
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Views, Balconies, Red Wine: How to Increase Your Hotel Ancillary Revenues

The Rainmaker Hospitality and Gaming Blog·26 April 2018
Airlines and cruise lines have been doing it very profitably for years. Now hotels are finally recognizing the lucrative potential of ancillary revenue opportunities. A study from Cornell shows that revenue management systems (RMS) are moving beyond techniques focused solely on room rate optimization. And today’s cloud-based RMS allow hotel operators to apply the same RM principles to non-room revenue sources. However, with half of hotels still not measuring any type of ancillary revenue, its beneficial to examine specific ways hoteliers can tap into this lucrative revenue stream.
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How Do You Inspire Your Guests to Spend More? Deliver the Right Offer at the Right Time

The Rainmaker Hospitality and Gaming Blog·19 April 2018
Data is transforming the hospitality sector. Forward-thinking hoteliers are making the most of historic guest interactions along with real-time and future data sets. They’re unlocking the hidden power of all that rich data with a revenue management system (RMS) that allows them to analyze it in multiple ways to create offers that increase guest spend. Let’s take a closer look at how you can use your data to present tailored offers to guests during those micro moments when they are most likely to convert.
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Capture the Best Hotel Data to Drive Ancillary Revenues

The Rainmaker Hospitality and Gaming Blog·12 April 2018
According to one SVP of revenue management reported in Hotel News Now, 20 years ago the biggest complaint among hoteliers was, “I don’t have the data.” Today, that issue has been flipped on its head with a cry of “I have too much data!” And concepts like “big data” and “analytics” now pepper the discussions of hoteliers looking for ways to grow profits and drive ancillary revenue.
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The Secret to Maximizing Ancillary Revenues to Boost Your Hotel Profits

The Rainmaker Hospitality and Gaming Blog· 5 April 2018
While it’s obvious that selling hotel rooms provides the primary source of income for hoteliers, an EyeforTravel report, Ancillary Revenues in the Hospitality Industry, revealed that nearly one third of hotels see a 25 percent boost in their bottom line from ancillary sales. And the total global hospitality market for ancillaries is worth more than $100 billion annually. Despite this, there are many hotels who have yet to embrace the significant revenue opportunities available through ancillary sales.
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How to Use Advanced Customer Valuation to Become Dangerous

The Rainmaker Hospitality and Gaming Blog·29 March 2018
A player’s value can be boiled down to two functions. First is marginalization, i.e. the relationship between spending patterns and profit. How much revenue can I expect given a player’s spending patterns? What and how much cost should be attributed to such patterns? Second, the prediction, i.e. the forecast of a player’s spending patterns. What spending patterns can I expect from a player’s future visit? How many future visits can I expect? What factors influence spending patterns and visit frequency?
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Three Thoughts on the Emergence of Airbnb as an OTA

The Rainmaker Hospitality and Gaming Blog·23 March 2018
As new lodging options emerge, specifically alternative accommodations such as Airbnb, the hospitality industry must evolve to the changing landscape. We’ve kept track of what consumers and industry insiders are talking about when it comes to trends in revenue management, and when it comes to Airbnb, there is plenty to discuss; specifically, the movement Airbnb has made towards opening itself as a booking channel for hotels. Here, I share three thoughts on the emergence of Airbnb as an alternative online channel, including how hotels can best leverage Airbnb, what hotels might want to consider when pricing on Airbnb, and what to keep in mind when managing online reputation.
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The Case for Enhanced Loyalty: What Traditional Hotels Can Learn from Casinos

The Rainmaker Hospitality and Gaming Blog·22 March 2018
For many properties, capturing total guest value (TGV) has many hurdles. Property Management Systems that don’t capture adequate data, disparate reporting systems and a simple lack of customer data from indirect booking channels all contribute to those challenges. Casinos have some of the most effective methods for capturing customer value and leveraging that information to enhance customer loyalty. In many ways, traditional hotels should look to these casino properties for ideas on how to better understand their customer and personalize the guest journey.
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Thinking In Terms of "Total Revenue Management": The 2018 Smart Decision Guide

The Rainmaker Hospitality and Gaming Blog·20 March 2018
Over the last 10 years, revenue management has gone from being an undertaking with uncertain financial upside potential to a strategic imperative with highly predictable revenue outcomes. At the same time, the demand for next-generation solutions has increased with the proliferation of online travel agencies (OTAs) with differing pricing and commission structures, shrinking booking windows, ever-more intense hotel competition in high-demand destinations and ever-increasing pressure to drive profitable growth. One way to harness the power of next-generation solutions is to adopt a mentality of 'total revenue management,' and to bear this in mind while asking the right questions of your RM solutions.
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The Triangle Effect: Aligning Marketing, Sales, and Revenue Management to Identify Total Guest Value

The Rainmaker Hospitality and Gaming Blog·15 March 2018
As customer acquisition costs rise and competition continues to grow, it’s harder than ever for hotels to attract and retain their most valuable guests. With such incredible levels of effort and resources being required to drive bookings and build loyalty, it’s important for hotels to focus their energy toward guest segments that yield the highest return on their investment. To do that effectively, Marketing, Sales and Revenue Management must work hand in hand. Together, they form a triangle of integrated knowledge, dependent upon one another, that acts as the foundation to build a strong total guest valuation strategy.
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Next-generation Revenue Management & Intelligent Pricing: The 2018 Smart Decision Guide

The Rainmaker Hospitality and Gaming Blog·13 March 2018
For hoteliers, the challenge of revenue management (RM) is particularly complex. Luckily, as traditional approaches to RM evolves, so does the technology at the disposal of revenue managers. Adopted from the 2018 Smart Decision Guide to Hospitality Revenue Management, this blog post explains the advent of next-generation revenue management solutions, and delves into the topic of intelligent pricing.

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