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Topic - Hotel Revenue Management Page 2

Hotel Revenue Management
Whistler Blackcomb - aerial view

The Importance of Willingness to Pay - By Rikki Cavanagh

It is important to consider not only competitors in your destination when determining rate strategies, but also competitive destinations. By understanding your hotel's unique value proposition as well as your destination's selling points, you can determine the 'willingness to pay' of your clients and remain competitive in a multi-market playing field, no matter the season.

Hotel Revenue Management
Graphic - AI Augmented Decision Intelligence concept - Source FLYR

AI-Augmented Decision Intelligence: The Next Paradigm Shift in Hospitality Revenue Management - By Andrew Rubinacci

Artificial intelligence is everywhere. It's making inroads into practically every field of human activity. It's integrated into search engines, word processors, and various apps likely installed on your smartphone in your pocket. And there's a reason for the tech's proliferation: it is incredibly adept at analyzing data much faster and at a much larger scale.

Hotel Revenue Management
Manoir Belle Plage - Exterior

Success Story of a 44 Room Inn: Manoir Belle Plage - By Rikki Cavanagh

When we think about revenue management, we often think of large cities, overbookings, big box hotels and a competitive marketplace. We don't typically think of a 44-room inn located in a remote destination. However, Rate Yield sat down with their loyal client, Manoir Belle Plage, to discuss what the revenue management software has done for them.

Hotel Revenue Management
Wooden building blocks - Source FLYR

Driving Profitability with Precision: AI's Pivotal Role in Revenue Management - By Andrew Rubinacci

Revenue management systems play a critical role in the hospitality industry. Traditionally, these systems attempt to predict future demand from past trends to optimize pricing. That's a reasonable approach. But as the pandemic taught us, relying on the past to predict the future doesn't always work - the unexpected still occurs. Now, what if I told you it was possible to predict future demand based on current trends?

Hotel Revenue Management

Displacement Analysis: A Necessary Headache - By Rikki Cavanagh

My first job in a hotel was as a sales manager for tour groups, sports teams and wedding blocks. In other words, I was our revenue manager’s least favourite colleague. I brought in the business that had some of the lowest rates, the most wash and the most guest complaints.