Showing items in the "Revenue Management" category

Research in Action: Total Hotel Revenue Management

At HSMAI’s ROC 2019 event Dr. Gabor Forgac of Ryerson University’s Ted Rogers School of Hospitality & Tourism Management discussed his research “Total Hotel Revenue Management,” which focuses on current practices and future trends of total revenue optimization in hotels.

Research in Action: Morality in Decision Making

Dr. Jeffrey Beck, associate professor in Michigan State University’s School of Hospitality Business, discussed his research on “The Role of Individual, Organizational, and Moral Intensity Factors on Revenue Manager Decision Making,” at ROC 2019.

Prepping for an Economic Downturn

With a potential economic downturn looming in 2020, it is important for hospitality professionals to prepare — particularly those working in revenue optimization. On a recent call, HSMAI’s Revenue Optimization Advisory Board (ROAB) discussed what steps we should be taking. Here are three takeaways from our conversation,

Research in Action: Effects of Minimum Wage Increases

At HSMAI’s ROC 2019, six college and university faculty members from hotel schools presented research in areas related to revenue management in the hospitality industry. During one of the presentations, Dr. Toni Repetti of the William F. Harrah College of Hospitality at the University of Nevada, Las Vegas, discussed research on the effects of minimum-wage growth on restaurateurs.

Revenue Optimization in Your Restaurants

Revenue optimization in hotel restaurants is specialized enough that it deserves its own case study. Thankfully, there is one — produced by Dr. Sheryl E. Kimes, professor of operations management at Cornell University School of Hotel Administration, and Jeannette Ho, vice president of Raffles global brand strategy and strategic relationships for AccorHotels.

Research in Action: Hotel vs. Peer-to-Peer

Katerina Berezina of the University of Mississippi discusses her original research on “Comparing Customer Perceptions of Hotel and Peer-to-Peer Accommodation Advantages and Disadvantages,” which compares customer perceptions of traditional hotel accommodation advantages and disadvantages with peer-to-peer accommodations such as Airbnb.

Research in Action: Managing Customer Behavior With Post-Service Interactions

At HSMAI’s ROC 2019, faculty members from hotel schools presented research in areas related to revenue management in the hospitality industry, including Chris K. Anderson of Cornell, who discussed his original research on “Managing Customer Behavior With Post-Service Interactions,” which focuses on customers’ post-stay experiences.

Budgeting and Planning for 2020

It’s budget season for the hospitality industry, including members of HSMAI’s Revenue Optimization Advisory Board (ROAB), who on a recent call discussed their planning process for 2020. Members had varying ideas for what the upcoming year will look like and how best to confront potential issues.

Get Their Hands Out of Your Cookie Jar!

The Lightning Round is a signature program at HSMAI’s ROC event — giving six revenue optimization executives just six minutes and 40 seconds each to share a best practice, strategic…

Spend Less and Deliver More?

With many companies in the process of planning their budgets for 2020, HSMAI’s Marketing Advisory Board (MAB) recently discussed the possibility of an economic downturn and what that would mean for hotel marketers in the coming year. Here are three takeaways from the conversation.

The Ever-changing World of Fees

By Jennifer Hill, CRME, Vice-President, Client Solutions at Kalibri Labs and Brian Hicks, Vice President, Global Revenue Strategy at IHG, members of HSMAI’s Revenue Optimization Advisory Board On its monthly…

How to Own Your Owner

The Lightning Round is a signature program at HSMAI’s ROC event — giving six revenue optimization executives just six minutes and 40 seconds each to share a best practice, strategic…

20 Questions for Your External Analysis

Every hotel should undertake both an external and an internal analysis on an annual basis. Here’s what you need to know about performing an external analysis.  An external analysis provides…

Different Forecasts for Different Objectives

Forecasting a hotel’s future revenue — including occupancy and average rate — is an important and foundational factor in a hotel’s ability to design successful revenue optimization strategies. There are…

Economic Risks and Opportunities Ahead

Shawn DuBravac is the New York Times bestselling author of Digital Destiny: How the New Age of Data Will Transform the Way We Work, Live, and Communicate. He is also the president and…

Planning, Earnings, and Diversification

By Timothy R. Wiersma, Vice President of Revenue Management, Red Roof Inns Inc., and a member of HSMAI’s Revenue Optimization Advisory Board As revenue optimization continues to evolve, it’s more…

The Power of Fear Itself

Judi Holler is a widely renowned keynote speaker who presents on the topic of using fear as a secret weapon. Her new book, Fear Is My Homeboy: How to Slay Doubt,…

Communicating Certain Metrics at Certain Times

Excerpted from HSMAI’s Best Practices Guide: Data Analytics — Hospitality Sales and Revenue Management. CHALLENGE: Reports are often generated for the sake of generating reports, rather than providing meaningful strategic review or…

Happy New Year From HSMAI, 2019

By Robert A. Gilbert, CHME, CHBA, President and CEO, Hospitality Sales & Marketing Association International (HSMAI) I hope you had a peaceful, healthy, and prosperous 2018 and a wonderful holiday…

The next frontier in revenue management

Savvy revenue managers should look for opportunities beyond just room revenue, such as in group meeting and banquet spaces. Here are some things to consider when refining the M&E strategy.

The Next Big Things in 2019

By Juli Jones, CAE, Vice President, Hospitality Sales & Marketing Association International (HSMAI) HSMAI’s three advisory boards have identified the disruptive factors that will most challenge hospitality sales, marketing, and…

HSMAI Best Practices Guide: Data Analytics

At HSMAI’s 2018 Curate events — an Executive Insights Forum offered exclusively for HSMAI Organizational Members — senior-level hospitality sales, marketing, and revenue-optimization professionals identified three primary challenges facing the…

Revenue Management: What to Expect in the Next 24 Months

EHL senior lecturer Scott Dahl, who had some 15 years’ experience in revenue management leadership roles, says four major themes were discernable at two recent Hospitality Sales and Marketing Association International…

Getting Ready for 2019

By Timothy R. Wiersma, Vice President of Revenue Management, Red Roof Inns, and a member of HSMAI’s Revenue Management Advisory Board Q42018 means it’s time to think about Q1 2019…

HDC: Focus on occupancy hinders ADR, profit

U.S. hoteliers have not concentrated on pushing rate during the recent years of booming occupancy and RevPAR, but this can still be rectified, according to industry sources.

Research in Action for Revenue Optimization

Five academics discussed their research projects related to revenue optimization as part of “Research in Action,” a session at HSMAI’s 2018 Revenue Optimization Conference. We asked them to explain what…

Overcoming Barriers to Total Revenue Management

By Juli Jones, CAE, Vice President, Hospitality Sales & Marketing Association International (HSMAI) For many hotels, Total Revenue Management is just too big of a bite to chew at one…

Revenue leaders: Data should tell a story

Speaking with Hotel News Now in conjunction with HSMAI’s recent Revenue Optimization Conference, a panel of revenue leaders at various hotel companies said they’re putting a lot of effort into translating different data streams to help themselves and their stakeholders like owners to understand what’s really going on.

Revenue disciplines, expectations evolving in hotels

As automation and innovations make the day-to-day rate maintenance part of revenue managers’ jobs less of a focus, those who work in the revenue discipline are expected to have more of a strategic focus, according to experts. The shift is also growing the number of possibilities for people who work in the revenue field.

The Great Debate

Humans or AI? Loyalty programs or bust? HSMAI will explore both sides of these hot-button revenue-management issues in a general session called “The Great Debate” at the 2018 Revenue Optimization Conference (ROC) in Houston on June 19–20.

The Career Path of a DRM

Takeaways from a recent HSMAI Revenue Management Advisory call focused on how to keep DRMs interested and engaged.

Executive Briefing: AAHOA’s Chip Rogers

In the world of hospitality, the Asian American Hotel Owners Association (AAHOA) is kind of a big deal. Its nearly 18,000 members own half of all the hotels in the…

Tactics, Strategy, and Leadership at ROCET

When HSMAI’s 2018 Revenue Optimization Continuing Education & Training (ROCET) program kicks off in Houston next week, the one-day conference — which is being presented nine times throughout the year…

The Intersection of Revenue Management and Digital Marketing Analytics

Hoteliers are under increasing pressure to extract knowledge and insights from vast amounts of data in order to enhance business strategies and optimize the customer experience. It’s not news that the better the collaboration between marketing and revenue management, the more profitable and successful the enterprise. But what does this really mean when it comes to data and analytics?

Headwinds As We Sail Into a Strong 2018

By Christian Boerger, CRME, Corporate Director of Revenue Strategy, Pacific Hospitality Group — member of HSMAI’s Revenue Management Advisory Board The 2018 outlook for our industry is strong. According to…

Why rate management is not revenue strategy

There is a distinct difference between “rate management” and “revenue strategy,” although for some hotel teams, the line between the two may have blurred over the years. Read the insights…

Top Trends From the Top 25: Revenue Optimization

We asked HSMAI’s Top 25 Extraordinary Minds in Hospitality Sales, Marketing, and Revenue Optimization— who will be honored at the 2017 Adrian Awards gala in New York City on February 20 — to tell us where they see innovation happening in the future. Here’s what four of them had to say about revenue optimization

Revenue managers to ‘adapt and adopt’ in 2018

Planning ahead and being flexible in the face of disruptors like calendar shifts and new supply can help revenue-management teams and their properties be less vulnerable to changes, sources said….

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