Top 8 educational materials about revenue management
Revenue management, as an ever-changing multifaceted discipline, encourages people behind key revenue decisions to move constantly with the times. Nowadays revenue managers should be more skillful when it comes to their analytical skills, ideas and business acumen, and remain competitive in this evolving environment.
Following Top 5 recommendations of revenue management materials composed by our RMS expert, Anna Raykhlina, offer you tools and insights to find entirely new ways to focus the attention, analyse the data and react to capture the demand.
(Click on the name of the article to learn more.)
1. Upselling Tips and Examples to Improve Your Hotel Marketing Strategy (Free E-Book: Hotel Marketing COVID Recovery Strategy included). (Revfine)
Lately upselling has become an essential part of hotel sales strategy. Revenue management has smoothly entered the daily life of almost every department. In this article you can find tips and examples on how to make both revenue and marketing play in one team.
2. Are Attribute-Based Bookings the New Standard for Hotels? Including the video from Skift Forum. (Revfine)
Another level of personalization is becoming more and more popular. The property can offer the possibility to personalize a reservation. Just splitting the product and letting the guest choose what they are really interested in. It is called attribute-based booking.
3. How hotels can measure their success in 2021. (eHotelier)
Revenue managers always use certain KPIs to measure the results. During the pandemic the focus shifted to TRevPAR and GOPPAR over RevPAR. Here you can find more useful reflections on this topic.
4. The top 8 travel trends that hotels need to act on to capture demand in 2021. (Hospitality.net)
Innovations in the world of advertising and technology, new profit opportunities, the market search and some other trends to help the hotelier capture the demand are mentioned in this article.
5. What are your online distribution costs and is there a way to reduce them? (YieldPlanet)
Now, more than ever, the business seeks to reduce expenses and increase the net profit. A clever approach can help not only to achieve the objectives but even exceed those. This article gives hoteliers a wide perspective on property’s online distribution costs operation and helps to understand how to manage it properly.
As an added bonus, Top 3 revenue management podcasts for busy hoteliers to keep their fingers on the pulse of the constantly changing industry:
1. Revenue Hub
Useful and interesting podcast, Revenue Hub invites hospitality experts from over the world to talk about revenue management, digital marketing, electronic distribution and technology.
2. The Proven Principles Hospitality
Hosts invite hospitality experts to discuss operational processes in the hotel, give some tips to improve guest satisfaction and make a business more profitable.
3. SHR Soundbites
Hoteliers and other hospitality experts talk about revenue strategies, online reputation and technology.
You might also be interested in reading:
YieldPlanet has become a Booking.com Premier Partner for another year in a row
How to protect your property from phishing attacks
Saving winter holidays as opportunities for properties in ski resorts
Download an e-book: RMS algorithms during the pandemic: challenge or opportunity?