Revenue management is an evolving discipline. For almost two decades, revenue management and its role in operations have been discussed in numerous articles. Each dissertation that explored the role seemed to reveal new opportunities to leverage revenue management in hotels as the revenue manager expanded his or her responsibilities beyond the reservations office. Before revenue management was considered a viable partner in hotel operations outside the reservations office, I began my career like many other revenue managers at the time when rarely were we seen outside those four walls-and, there certainly was not a place at the Executive Committee table for a revenue manger. READ MORE

As the revenue management discipline continues to evolve, industry professionals must continue to look at the transition from tactical operations to strategic deployment of their systems and processes. The industry as a whole needs to step up to the plate and maximize total hotel revenues from existing demand by setting both short and long term strategies. To increase revenues, it is not enough to only "play with" the non-contracting individual demand - in many cases, this is less than half of a hotel's revenue. Not moving to a strategic revenue management model will only leave money on the table. READ MORE

With the world shifting to digital and hotel competition increasing daily, hotel owners/operators must adapt on a variety of fronts to increase revenue while meeting or exceeding guest expectations and demands. Nowhere is that more prevalent than in a hotel's various technology options, from the property management system (PMS) to data security to taking guest payment options beyond the front desk to so much more. Quite simply, revenue management is so closely tied to technology that hotel owners/operators must determine which technology improvements will bring the greatest return on investment. READ MORE

The pressure is on Revenue Managers to find hidden sources of profit. Accomplishing this requires new measures of performance that reveal new insights. Creating new measures can be a daunting task especially if you do not know where to look. The following 3 overlooked RM measures will allow any RM manager to have an immediate impact on the bottom line. READ MORE

Can going green help the environment and the bottom line? When it comes to responsible water use, the answer is a resounding yes. In the article “Going Green through Irrigation - System maintenance tips for water- and cost- savings,” U.S. Lawns President Ken Hutcheson discusses how proper irrigation maintenance at hotel properties can not only benefit the environment, but can also provide savings on both overhead and incremental expenses. Ken's article provides some expert tips on how hotels can utilize efficient irrigation techniques that ensure their landscapes stay beautiful without draining unnecessary natural and fiscal resources. READ MORE

In the early days of the hospitality industry there was no need for a hotel management agreement because the owner of the hotel was also the operator, the receptionist, the bell hop, the maid, and the chief cook and bottle washer. That was then, this is now. In today's commercial environment the ownership and operation of the hotel is placed in many hands, the owner, the operator and the lender - each with a separate and distinct role and set of interests. This article will give you a sense of the evolution of the hospitality industry and how the hotel management agreements of today reflect this evolution. READ MORE

Today, consumer buying behavior is evolving so rapidly Revenue Managers must feel like they are trying "to shoe a horse on a dead run". Not to mention that technology is more complex, distribution options multiply day by day and business intelligence reports are seemingly limitless. How does a revenue management professional keep pace with this change and the associated complexities? The answer is they don't. So what is a Revenue Manager to do? And how does a hotel or hotel company determine whether their revenue management resources are first, second or third generation professionals? READ MORE

Revenue Management in hospitality is a relatively new discipline, and, as with anything new in today's world, has evolved rapidly since its inception in the late 1980's. This article explores the origins of revenue management, best practices for today and a glimpse into the future. READ MORE

Most revenue management professionals have been taught past history dictates future performance. Does the old adage hold true in today's economic and diversified environment? The answer quite simply is the old adage and past methodologies are not enough. While the saying still holds direct relevance to the future of hotel demand, the change in both technology and consumer behavior has substantially evolved over the past several years. Today, how does a revenue management team predict and hit their goals and what will come of tomorrow? READ MORE

While the application of revenue management techniques to improve RevPAR (revenue per available room) is an important aspect of strategy planning amongst many lodging providers total or ancillary revenue management is not as widely used. The goal of revenue management is to generate more revenue by analyzing demand to devise the most applicable pricing and product distribution strategy. This holds true for both rooms and ancillary revenue management, but the latter has a number of additional complexities making it more difficult to even get started. This article will provide an overview of various areas for ancillary revenue management and explore strategies and challenges of implementing a total revenue management strategy. READ MORE

Asian hotels have a much greater fixed component of labor cost than those in North America. Asian hotels are not be able to reduce number of employees during times of lower business volumes while their North American colleagues can do that owing to the hourly/daily/weekly nature of pay periods and the nature of contracts that are signed up. This has implications on profitability. Notwithstanding these and other differences, perhaps, the common approach that both North American and Asian Hotel Managers will need to take is to keep the revenue graph going upwards faster for a longer time than the labor cost graph. That can mean the difference between a sustainable bottom line and being in the red. READ MORE

A significant portion of available lodging supply in the US is condominium hotels and resorts, yet this segment has been largely overlooked by many traditional hotel management companies. Larry Spelts, director of asset management for Charlestowne Hotels, writes about his firm's business model that has the potential to transform the condotel business model and bring a greater degree of professional management to the segment. READ MORE

Corporate responsibility, sustainability, green - whatever you prefer to call it, it's here to stay. But is CR even relevant for travel, you might ask, how seriously should we be taking it? Getting to the heart of the matter can be tricky - there's no shortage of myths surrounding CR and the hotel industry. But if they're not dealt with, these myths can mask the many opportunities that sustainability offers the astute hotel business. READ MORE

Because there are literally dozens of different approaches to spa services and their delivery in a hotel, hotel spa management requires a holistic and comprehensive understanding of the entire picture. Identifying and developing the proper menu of services which will satisfy the expectations of the targeted clientele is the first step to success. The next step is to match the menu items with the ability of the staff to perform treatments. When the management principles align with the competency and motivation of the staff, only then can the other business elements truly be facilitated in a way that sets the stage for successful growth, profitable bottom lines and ultimately happy guests. READ MORE

It's usually a safe bet to assume that any hotel would like to increase its revenue and acquire more profits. High-performing hotels foster a culture of constant improvement and regularly ask, "How can we grow and sustain increasing levels of income?" Believing that there are a number of different income growth strategies that hotels can use to generate much-needed revenue, each strategy comes at a different "price." While some revenue sources are easy to implement and require little technical expertise, others might be perfectly suited for the missions and strengths of your hotel, yet require a more significant investment. READ MORE