What’s New In Hotel Revenue Management Systems

Hotel Revenue Management can look like a big bowl of acronym soup: RevPAR, TRevPar, ADR, GOPPAR. Happily, there are a number of software systems available to help you sort it all out into a column labeled “Profit.” First of all, let’s review what those acronyms mean: RevPAR – Revenue Per Available Room TRevPAR – Total […]

What’s New in Hotel Yield Management Software

Not happy with your hotel yield management software package? Check out these new stars on the digital horizon.   IDeaS IDeaS Revenue Solutions (Integrated Decisions & Systems, Inc.) isn’t exactly a new kid in the hospitality management and travel industry. IDeaS has been developing and refining its yield management software solutions for over 25 years. […]

Hotel Yield Management: Timing Is Everything

Yield management isn’t a business concept that applies to every type of operation—only those with a finite number of items to sell. After all, a hotel has only so many rooms. Once they’re all sold, you’ll make no more profit for that night. A truck isn’t going to come replenish or add to your inventory, […]

Hotel Revenue Management: Small Changes Add Up

No doubt about it, the Internet has done much to level the marketing playing field between the giant chains and the independents in the hotel industry. But even if we could totally automate our property management system to integrate seamlessly with all our global distribution channels, does that mean we can just “set and forget” […]

What’s New in Hotel Revenue Management Systems—Part 2

Continuing our look at What’s New in Hotel Revenue Management Systems, this time we cover two more stars on the software horizon, both traditional and cloud-based. Whatever your management style, there’s a software package that fits it perfectly. Even when you feel like changing things up a bit, these software systems help you keep from […]

What’s New in Hotel Revenue Management Systems—Part 1

Hotel revenue management (or yield management) is the lifeblood of every hotel, small independent to international chain. It’s also an eternal source of stress for hotel managers, even those who are good at it. These days, though, you don’t have to spend hours poring over spreadsheets, punching a calculator, or consulting a crystal ball. Modern […]

Yield Management Strategies: The Right Hotel Room Pricing, Part 2

Last time, we took an overall look at yield management strategies as they apply to setting the right room rate for your small or independent hotel, and covered the first segment of the four basic segments of the yield management cycle: Forecasting Demand. Today we’ll move on to the second of four segments of the […]

Hotel Room Pricing: Dynamic Pricing 101

No hotel—at least no successful hotel—charges the same room rate all the time. However, even if you have different price structures for different types of rooms, for high and low demand cycles, and for different types of customers (i.e., business vs. leisure vs. groups), your revenue management will be most effective with dynamic hotel room […]