Hotel Industry

The Most Used Revenue Management KPIs for Hotels

Martijn Barten2024-01-25T15:11:23+01:00

KPIs for Hotels KPIs (Key Performance Indicators) in hotels are metrics used to measure and evaluate the success of various aspects of hotel operations. These indicators, including occupancy rate, average daily rate, revenue per available room, and gross operating profit per available room, are essential for assessing performance, guiding decision-making, and strategizing for improvements. They provide vital insights for hotel

The Most Used Revenue Management KPIs for HotelsMartijn Barten2024-01-25T15:11:23+01:00

STR Report: Introduction Guide for Hoteliers

Martijn Barten2024-01-22T13:53:44+01:00

STR Report The STR Report is a comprehensive analysis of hotel industry performance. It offers critical data on occupancy, average daily rate, and revenue per available room, making it essential for hoteliers and investors to understand market trends, benchmark against competitors, and strategize for revenue maximization and market positioning. Key Takeaways Benchmarking Tool: The STR Report is a vital benchmarking

STR Report: Introduction Guide for HoteliersMartijn Barten2024-01-22T13:53:44+01:00

12 Revenue Management Tips for Hotels

Martijn Barten2024-01-25T15:19:50+01:00

Revenue Management Tips for Hotels Revenue management tips are strategies and best practices used to optimize the financial performance of a business, particularly in sectors like hospitality and travel. These tips involve pricing strategies, demand forecasting, market analysis, and inventory control to maximize revenue. They are crucial for businesses to remain competitive, adapt to market changes, and enhance profitability by

12 Revenue Management Tips for HotelsMartijn Barten2024-01-25T15:19:50+01:00

Learn How Breakfast Service Can Be a Profit Center for Your Hotel

Revfine.com2023-12-29T16:28:39+01:00

OTAs show "breakfast included" as a primary search filter for hotel guests. It's not surprising that guests want to maximize their time and energy by enjoying breakfast within the hotel. It's one less decision they need to make. In this article, you'll see how thinking of breakfast as a profit center – setting, food, service, environment – impacts your hotel's

Learn How Breakfast Service Can Be a Profit Center for Your HotelRevfine.com2023-12-29T16:28:39+01:00

4 Tips for a Smart Overbooking Approach

Revfine.com2023-12-29T16:31:28+01:00

While data certainly supports the practice under the right circumstances, overbooking is a subject that can easily put hotel staff on edge without careful implementation. No one is thrilled by the prospect of needing to relocate or “walk” a guest to another property because a statistically likely cancellation never materialized. 4 Useful Tips for a Smart Overbooking Approach Plenty can

4 Tips for a Smart Overbooking ApproachRevfine.com2023-12-29T16:31:28+01:00

Harnessing the Power of Generative AI in Guest Communications

Revfine.com2023-12-29T16:31:16+01:00

The industry’s adoption of Artificial Intelligence (AI) keeps pushing the boundaries of personalization and efficiency of guest communications. The emergence of generative AI models, like ChatGPT, is yet another revolution in that area. While it enhances the already existing benefits of platforms and tools powered by conversational AI, it also poses some challenges hoteliers need to consider before deciding on

Harnessing the Power of Generative AI in Guest CommunicationsRevfine.com2023-12-29T16:31:16+01:00

Top 3 Hotel Rate Parity Issues and How to Fix Them

Revfine.com2023-12-29T16:30:34+01:00

Are you a hotelier struggling to maintain rate parity in today's ever-changing hospitality industry? If so, you're not alone. Despite the challenges of the last few years, rate parity remains a significant issue for hotels, and it's only getting more complicated. Top 3 Hotel Rate Parity Issues As a result of the pandemic, many hotels focused on generating short-term business

Top 3 Hotel Rate Parity Issues and How to Fix ThemRevfine.com2023-12-29T16:30:34+01:00

Mastering Ancillary Revenue: Key Lessons and Strategies

Revfine.com2023-12-29T16:30:09+01:00

A revenue management strategy is a common practice among hotels. What’s less common is having an ancillary revenue strategy, though. Nevertheless, it’s beneficial for hotels to have one. It’s one of the first steps to unlocking a new, powerful revenue stream and improving the hotel’s positioning and branding while enhancing the guest experience. Here’s a closer look at the other

Mastering Ancillary Revenue: Key Lessons and StrategiesRevfine.com2023-12-29T16:30:09+01:00

Embracing Hybrid Hospitality: A Blueprint for Boosting Hotel Revenue

Revfine.com2023-12-29T16:31:03+01:00

In the ever-evolving landscape of the hospitality industry, it can feel hard to stay ahead of the curve – or even in the middle of it. However, changing habits, attitudes, and trends send a clear message: the status quo is no longer sufficient to meet the complex needs of modern guests. The solution? Embrace a flexible tech stack and adopt

Embracing Hybrid Hospitality: A Blueprint for Boosting Hotel RevenueRevfine.com2023-12-29T16:31:03+01:00

STR Trend Report: How the Industry Adapts to Changing Market Dynamics

Martijn Barten2024-01-22T14:00:35+01:00

STR Trend Report The STR Trend Report provides critical data on hotel industry performance, offering insights into occupancy, average daily rates, and revenue per available room. This report is vital for industry stakeholders to understand market dynamics, make informed decisions, and strategize effectively in a competitive landscape. Key Takeaways Occupancy & Revenue Metrics: Covers crucial metrics like Occupancy Rate, Average

STR Trend Report: How the Industry Adapts to Changing Market DynamicsMartijn Barten2024-01-22T14:00:35+01:00

Best AI Use Cases and Strategies in Hotel Revenue Management

Suzanne2023-12-11T10:28:07+01:00

Question for Our Revenue Management Expert Panel: What are the most beneficial use cases and practical applications of AI in hotel revenue management? Where do you think the opportunities and pitfalls may lie? (Question by Alenka McMahon) Our Revenue Management Expert Panel Alenka McMahon - Managing Director, Hotel Revenue Services Limited Tanya Hadwick

Best AI Use Cases and Strategies in Hotel Revenue ManagementSuzanne2023-12-11T10:28:07+01:00

A Comprehensive Overview of All Hotel Positions

Martijn Barten2024-01-10T13:16:12+01:00

Hotel Positions Hotel positions encompass a variety of roles within a hotel's operation, such as management, front office, housekeeping, food and beverage, and maintenance. These positions are crucial as they collectively ensure the smooth running of the hotel, delivering quality guest experiences and maintaining its reputation and operational efficiency. Key Takeaways Diverse Role Spectrum: Covers various roles, from front office

A Comprehensive Overview of All Hotel PositionsMartijn Barten2024-01-10T13:16:12+01:00

The 7 Star Hotel: Learn Everything About Seven Star Hotels

Martijn Barten2024-01-02T15:02:23+01:00

The 7-Star Hotel A 7-star hotel represents the pinnacle of luxury in the hospitality industry, although not officially recognized in the traditional star rating system. These hotels offer unparalleled service, exquisite amenities, and exceptional experiences, often featuring opulent decor and personalized services. They are important symbols of status, luxury, and architectural marvels, catering to the ultra-wealthy and discerning travelers seeking

The 7 Star Hotel: Learn Everything About Seven Star HotelsMartijn Barten2024-01-02T15:02:23+01:00

Hotel Departments: Learn About All the 7 Sections of a Hotel

Martijn Barten2024-01-10T13:27:03+01:00

Hotel Departments Hotel departments are integral units within a hotel that collaborate to provide exceptional guest experiences and efficient operations. These departments, including front desk, housekeeping, food and beverage, and maintenance, are essential for a hotel's smooth functioning and directly impact guest satisfaction, operational efficiency, and the overall success of the hotel. Key Takeaways Diversity of Departments: Outlines the variety

Hotel Departments: Learn About All the 7 Sections of a HotelMartijn Barten2024-01-10T13:27:03+01:00

Hotel Facilities: Everything You Should Know About Facilities in Hotels

Martijn Barten2024-01-02T15:05:46+01:00

Hotel Facilities Hotel facilities refer to the various amenities and services a hotel provides to enhance guest comfort and convenience. These can include rooms, restaurants, fitness centers, spas, conference rooms, and pools. They are important as they significantly impact the guest experience, influencing satisfaction, repeat business, and the hotel's overall reputation. Key Takeaways Variety of Amenities: Covers diverse facilities like

Hotel Facilities: Everything You Should Know About Facilities in HotelsMartijn Barten2024-01-02T15:05:46+01:00

Front Office Department in Hotel: Everything You Need to Know

Martijn Barten2024-01-02T15:04:29+01:00

Front Office Department in Hotel The front office department in a hotel is a critical area where guests first encounter hotel staff. It manages key functions like reservations, guest services, and check-ins/check-outs. This department is essential for creating first impressions, ensuring guest satisfaction, and effectively managing room inventory and billing, making it vital for a hotel's operation and reputation. Key

Front Office Department in Hotel: Everything You Need to KnowMartijn Barten2024-01-02T15:04:29+01:00

Hotel Breakfast: Types, Overview & Tips to Impress Your Guests

Martijn Barten2024-01-10T13:32:10+01:00

Hotel Breakfast Hotel breakfast typically refers to the morning meal hotels offer their guests. It ranges from simple continental options to elaborate buffets with diverse international cuisines. This amenity is important because it adds convenience for guests, enhances the overall stay experience, and can be a deciding factor in hotel selection for travelers. Key Takeaways Variety of Breakfast Types: Hotels

Hotel Breakfast: Types, Overview & Tips to Impress Your GuestsMartijn Barten2024-01-10T13:32:10+01:00

Hotel Innovations; Different Ways to Revolutionize Your Hotel Business

Martijn Barten2024-01-10T13:42:19+01:00

Hotel Innovations Hotel innovations refer to adopting new technologies, services, and practices in the hospitality industry to enhance guest experience and operational efficiency. These innovations are important as they keep hotels competitive, increase guest satisfaction, and drive the industry forward with cutting-edge solutions in a rapidly evolving market. Key Takeaways Mobile Check-In and Check-Out: Enhances guest convenience and operational efficiency,

Hotel Innovations; Different Ways to Revolutionize Your Hotel BusinessMartijn Barten2024-01-10T13:42:19+01:00

Strategies, Tactics, and Insights for the Hotel Industry

Optimize revenue, innovate processes, and improve customer experience