Welcome to our XOTELS‘ Hotel Revenue Management Blog. Explore cutting-edge strategies, data-driven insights, and expert tips tailored for optimizing revenue in the dynamic world of hotels. Discover the revenue management potential and elevate your hotel’s profitability to success.
Alright As a leader in revenue management consulting, we're always at the forefront of what is happening in the hotel industry ─ and keeping a close eye on how revenue management trends keep evolving. In this article, we take you on a deep dive to understand the most important trends in revenue management and highlight which opportunities will help your hotel stay ahead of the game.
Alright then, let’s cut to the chase. You’ve got a hotel, right? And you’re probably wondering how to get it full with happily paying guests. Well, buckle up, because I’m about to spill the beans on how to squeeze every last penny out of your hotel venture.
Forget those boring textbooks and those stuffy advisors. We’re going to get down and dirty with the real-world strategies that we have actually seen working as a revenue management consulting company. We’re talking about the kind of moves that’ll have your competitors scratching their heads and your accountant doing a happy dance.
So, grab a cup of coffee, get comfortable, and let’s dive into the nitty-gritty of how to make your hotel a money-making machine. Trust me, this is going to be fun.
Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. What drives more value to the business, ADR, average daily rate, or occupancy?
I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. ‘How can I make more profit with my hotel?’ Owners that are closely watching the P&L statement are especially keen to understand how they can drive the bottom line of their hospitality business.
We have written extensively about hotel revenue management strategies. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.
Google is taking the hotel industry by storm to gain market share and grow their advertising revenues. We will take a look at how Google is penetrating the hotel distribution vertical with Google Hotel Ads, and what opportunities this gives in terms of hotel revenue management and marketing.
For many people, starting their own boutique hotel or luxury bed and breakfast is like a dream. Most are drawn by the charm of hospitality and see it as a chance to start a new beginning. But opening a hotel business , just like any new company, is more difficult than it might seem at first sight.
Particularly if you have never worked in the international hotel industry, you will be faced with many things you might have not considered or imagined before. The hotel business is highly competitive and achieving good financial results is not as easy as it seems.
In my experience at XOTELS – Hotel Revenue Management Consulting in dealing with entrepreneurs and investors, I have found that there is no shortage of creative ideas for innovative hotel concepts. The challenge, however, lies more in the strategic and organizational areas of the business.
The unofficial definition of Revenue Management used by insiders is ‘the art of turning away business’. This certainly does not apply during the current Covid-19 (coronavirus) global healthcare crisis, and the economic downturn the hotel industry is facing in its aftermath. All the standard strategies and playbooks are out of the window right now. So what to do?
It is a question I often hear when explaining what we do at XOTELS-Hotel Revenue Management Consulting. People seem surprised hotels are willing to hand over a vital part of their strategies to a 3rd party. Such a sensitive and key part to the success of your business as revenue management should not be left to an ‘outside’ company many hoteliers respond.
Hotel low season revenue has long been considered to simply be an unfortunate fact of the industry. It brings less demand and, therefore, lower revenues too. But the industry has changed so much in such a short space of time, and hotels no longer have to accept that low season automatically means slow business.
By adopting a proactive stance and implementing a series of tried-and-tested tactics, your hotel can blossom in what traditionally is considered low season. Read on to discover our five best practice steps to attract guests and increase hotel revenue during a low occupancy phase at any time of the year.
