Rooms revenue optimization has taken the lion's share of revenue management focus with RevPAR being the primary benchmark to measure success. However, as revenue management practices evolve, customer buying patterns change, and operating costs rise, RevPAR alone cannot be relied upon to provide a complete picture of the hotel's operation. TrevPAR and GOPPAR are emerging as more reliable benchmarks of an operation's overall performance. In determining these benchmarks the application of revenue management principles across other profit centers such as meeting space, and food and beverage is gaining momentum, paving the way for Total Revenue Management. However management teams are finding that traditional performance targets frequently miss out on measuring profitability, and driving revenue management strategies across departments can mean a complete shift in business processes, and re-evaluation of team performance targets. Whilst challenging, aligning performance targets and creating benchmark metrics provide a good foundation on which to base a total revenue management strategy. READ MORE

According to Deloitte's forecast on hospitality trends in 2013, the hospitality sector will face the need for strategic considerations due to heightened competition and the pressing need for brand differentiation. This is evident in the ever-changing landscape of hotel marketing. Hotel marketing is driving outreach to their current customer base and prospect opportunities through loyalty programs, traditional advertising, experiential and now more than ever, co-marketing. READ MORE

The internet era of empowered consumers and pricing transparency has forced Revenue Management (RM) in hospitality to evolve from an application of airline-based yield management to a demand generating role that is critical to top line growth. This evolution has resulted in new price optimization capabilities that have gone from concept to industry standard in just three years, and in tighter integration between Revenue Management and Marketing to create personalized packages and promotions. In this era of big data, RM innovation will be imperative to winning in hospitality. READ MORE

Most hoteliers list more than one type of room for sale on OTAs, most often with different prices for each. Pricing by room types makes perfect sense in the offline channel, where your reservations agent can explain the differences between each room type and where consumers are less likely to be comparison-shopping. But by pricing your rooms by room type on the OTAs, you could have a negative effect on your revenue. This article examines what makes pricing by room type so ineffective and specific suggestions on the best practices for pricing rooms in the online channel. READ MORE

With hundreds of distribution channels and many more to come, what is channel management all about and what should be your primary objectives? These are the deliberations of our revenue management and WindsurferCRS leadership teams at a recent Sceptre Hospitality Resources innovation meeting. Together we came up with three things hoteliers should know about channel management: Know the Facts; Get Connected; and Monitor Costs. READ MORE

Last year, Google Travel found that 25 percent of all online searches for travel came from a mobile device. eMarketer predicts that this figure will jump up to 40 percent by the end of 2013. With smartphone users' limited time, attention span and screen space, hoteliers have to adapt, taking any friction out of the equation, and make the website experience seamless and easy-to-navigate. This article examines the different types of mobile websites and provides insight on how to make your site more user-friendly for potential customers. READ MORE

One issue that has long tormented developers of condominium hotels and fractional interest programs is whether or not the availability of a rental management program to buyers of condominium units or fractional interests transforms a real estate deal into a security. The recent Ninth Circuit Court case, Salameh v. Tarsadia Hotels, sheds useful light on that question, concluding that no security was present where the rental management contracts were signed by buyers of condominium hotel units anywhere from 8 to 15 months after the sales agreements were executed and there was no allegation of co-promotion of the two programs. READ MORE

In the digital age guest feedback is becoming even more important, as recent research suggests that not only does social media have a relationship with lodging performance, but that it also impacts the behavior of consumers. Hoteliers need to make sure they are not only asking their guests for feedback in the traditional manner, though guest surveys to help improve a properties offering, services, but they also need to monitor social media for unsolicited feedback through reviews and ratings so that they can help determine their property's pricing power and pricing strategies in the future. READ MORE

With so much to offer and so little time (and even less budget) to go around, hoteliers find themselves questioning the suitability of certain social networks for their hotels. Should you include YouTube, Pinterest & Instagram? Do you really need to be on each and every network? Would video marketing appeal to your guests? Which social networks are falling off the radar? And what are the hot trends these days? Considering that social media sharing is quickly becoming one of the most important factors in organic search engine rankings, you would be remiss to ignore the latest trends and how they may impact your hotel. READ MORE

There is a silent but very powerful movement happening in the back office of the hotel, wellness and spa industry, and it will awaken and shake up all organizations and companies around the planet like never before. The aristocratic and hierarchical type of leadership, as it was practiced from the early 1900's until very recently, is ancient history. Companies and organizations that still work with the model of the 1900's set themselves up for failure and collapse. The new leadership paradigm will be very beneficial for any company and glorious for the individual. Compassion and deep understanding of each individual's needs and capabilities, will guide the entire new workforce. READ MORE

Like forecasting, distribution and inventory management, pricing is an integral part of the revenue management process. The challenge facing most properties is how to go about setting prices that support stated organizational performance targets. This article explores the six foundational building blocks that should be carefully considered before attempting to establish a pricing strategy. READ MORE

The hotel distribution landscape is complex and ever changing. It is an elaborate web of disparate systems and integration admired from afar and challenging even for those involved in the day-to-day management of a hotel. Revenue Management is one aspect in particular that is vital to understanding and managing this intricate web. And it cannot be done alone or in a silo. The following discussion brings to the surface the issues relative to channels that a hotel management team must be aware of in creating a revenue management strategy and how the growing complexity of channels in travel make this a converged effort across many hotel disciplines. READ MORE

Whether underwriting an investment for a distressed hotel, conversion opportunity or a traditional transaction, assumptions surrounding revenue (and profit) potential will serve as the key drivers validating price and investment returns. Naturally, market conditions and historical high/low performance benchmarks are reasonable indicators of the strength and resiliency of a given market. However, investment returns are not predicated on market strength alone, but rather the value-add financial performance achieved through improving a hotel's position and subsequent performance within a market. In short, every good deal has an investment story which must be uncovered to determine future upside. READ MORE

Do you know your reputation on the street as a Hospitality Employer or Leader? If you don't, or you have the wrong perception of what it is, it could be costing you a bundle. Frank Speranza, owner of Hospitality Talent Scouts, Inc., discusses why knowing this is so important, not only to organizations but to individual leaders, regarding their ability to attract and retain the brightest and the best hospitality professionals, so they can compete in today's fiercely competitive environment . The reputation of Hospitality Employers and Individual Leaders matters a great deal, and if you're not concerned, you will be after reading this article. READ MORE

The key to effective hotel management lies in the sum of all parts-operational best practices, training, education, strategic sales strategies-working together to build a results-drive culture. Creating such a culture in your hotel, however, has to start at the top with the leadership team. The best-managed properties have set specific and measurable goals, and stress the importance of building a staff focused on teamwork, accountability and motivation. This article will provide hotel owners and operators with the basic building blocks and strategies needed to create and maintain a culture made up of a talented team focused on results. READ MORE