Laying the foundations of revenue management is essential to any hotel, of any size and in any location, and will prove to the difference between success and failure. By better managing your resources according to need, you can make the most of resources and lower costs by avoiding unnecessary expenses.
Intense competition and persistent economic uncertainty mean that it’s imperative to continuously assess and optimise opportunities to improve your hotel’s operations and performance, minimise risks, reduce costs and grow revenue. This is where a revenue management audit can help.
Uncertainty is a certainty for the highly competitive hotel industry! Factors from political and economic challenges, exchanges rates and legal requirements to fluctuating customer loyalty and technological trends all pose risks. Here are four ways that will help you stay confident that your hotel enjoys success through any uncertainties you may face
Your hotel restaurant can be a solid driver of revenue and an integral part of your hotel’s identity, and its ability to help market and sell your hotel shouldn’t be underestimated! Here are some ways your restaurant can increase your revenue.
As Halloween approaches, here are 10 scary Revenue Management facts to make you shudder. In fact, they’re that frightening you may be terrified all year long!
As consumers become increasingly sensitive to environmental issues and the climate crisis rises, demand for eco-friendly services and products continues to grow. We’ve compiled some easy ideas to keep up with the green trend and help make your property more environmentally friendly.
Sarah Thompson decided to set up Octopus Revenue Ltd in 2014 when she was made redundant, having spent over 20 years of working in the hospitality sector with major hotel chains and independent groups around the UK.
One of the main reasons I decided to set up Octopus Revenue Ltd in 2014 was to spend time with my growing family and achieve a healthy work-life balance. Having spent over 20 years working in the hospitality sector with major hotel chains and independent groups around the UK, I was keen to carry on working in the industry that I know and love while realising maximum outcomes for my clients, and having the flexibility to prioritise my personal life.
How will browsing without a screen influence the way customers search for and book hotels, and what does this mean for hotel revenue management.
Revenue management is often a role thought of only applicable to one key member of the team; the revenue manager. However, there are more roles that involve revenue management responsibilities than you may think! Here we’ve picked five common phrases heard in the hotel industry that should make any skilled revenue manager cringe!