Once again some of the biggest cultural events and music festivals this peak season (and a little bit beyond) are boosting demand and bookings in a big way.
Sources predict that hotels' pricing power will remain strong. However, we don't need a pandemic recovery to fall into the trap of overpricing. Why do we do this?
Generative artificial intelligence has been a constant headline-maker in the travel tech world through the past year. So, it's no surprise many industry experts believe the technology has the power to change processes on the whole, including in how hotels strategize - and maximize - their opportunities to drive revenue.
Due to what seems like an exponential rise in data complexity, combined with a reduction in time and resource, many Revenue Managers feel trapped, unable to extract the actionable insights they need to drive business performance - and the net is tightening. Luckily, hotel Business Intelligence (BI) is to the rescue.
'Only 12.5% of the accommodation in this hotel is occupied, which makes one ruminate.' So wrote the humorist, Moose Allain, on X, formerly Twitter. A nice joke but for hoteliers Revenue Management is no laughing matter.
The Rate Yield development team has been busy and announce product enhancements that have been made in recent months.
We know that reputation management is important, but how involved should revenue managers be in that process? I brought this topic to the leaders of the HSMAI Revenue Optimization Advisory Board to discuss our role in reputation management. Here are our top five takeaways.
New partnership between RateGain and FLYR Hospitality provides hoteliers with a holistic, streamlined solution to achieve AI-driven rate optimization across distribution channels
New industry first AI capabilities make it easier for revenue managers to find insights and capture more growth opportunities
Next week I am visiting Walt Disney World with my kids and their best friends. While I've managed to book our flights, car rental, lodging and park tickets with money to spare, there are a lot of unknowns to be accounted for, and this is largely due to revenue management practices. Here are a few examples of how my family was directly affected by the practice I love so much, and how we expect to be affected on site.