What is the best way to handle these fees? Should they be included in the rate? Or should they be displayed separately? There is no easy answer. But there are three things to consider when making this decision.
In the first ever HSMAI global distribution executive roundtable, leaders in the field gathered to share best practices and challenges. It was clear from the start that the group had a lot to talk about around content and rate parity and leakage – the biggest challenges everyone faced. Here are best practices that came out of the discussion.
As Resort Fees (or Urban Fees) become more common for hotels as a new revenue stream, what are the guests feeling about it? What are the values provided by bundled services, and should we give guests more options? The Revenue Rising Leader Council recently discussed these issues.
The HSMAI Revenue Advisory Board recently met to discuss the psychology of pricing in today’s environment. Here’s a snapshot of key concepts in behavioral economics and how it affects pricing strategies.
One common reaction in times of crisis is to dramatically reduce your hotel’s average daily rate (ADR) to boost near-term revenue. Instead, go back to the basics of your pricing strategy to adapt to this ever-changing landscape.
Takeaways from the recent HSMAI Chief Revenue Officer Executive Roundtable on 2021 budgeting, pricing, forecasting, and more.
HSMAI’s Revenue Optimization Advisory Board (ROAB) met on a call May 7 to discuss further implications of the coronavirus, in particular how hotels are thinking about reopening. Here are a few takeaways from the discussion.
Insights from Damiano Zennaro, Director, Global Advisory Services, IDeaS Revenue Solutions and member of HSMAI Europe Revenue Optimisation Advisory Board.
As the coronavirus continues to spread, many hoteliers are wondering how to adjust their revenue strategy. Carter Wilson of STR presented data from the 2009–2010 recession to illustrate the implications of dropping prices versus holding steady during low-demand periods as part of a program in HSMAI’s Confronting Coronavirus webinar series.
This paper explores the current state of revenue management and the approaches used by revenue management systems (RMS) to support hotel revenue management; new trends in revenue management systems and analytics that are shaping the future today; and makes recommendations regarding RMS approaches and trends that hoteliers should consider, based on their specific market and strategy.
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