BEONx

Forecasting has always been valuable for revenue managers. Given current uncertainty, it is so important to be able to predict and adapt to demand

The key is identifying all stages of the guest journey where you can create opportunities to generate more revenue and increase your profit margins

Demand based pricing can take a number of forms. The most common examples are price skimming, geo-based pricing, and yield management

We discuss why pricing is so essential for your hotel and how you can design an effective strategy that generates consistent revenue streams

You, as a hotel owner or revenue manager, have the power to create a solid reputation that helps you build a successful brand

Lead time is a formula used to calculate the time between a guest confirming a reservation at your hotel, and their arrival date

What is the purpose of revenue management, and why is it so important to design and implement an effective revenue strategy in your hotel

Fair pricing is not about underselling or undercutting competition. It’s about finding the right balance between business success and customer satisfaction

Once you’ve identified each stage of the guest experience, you can move on to the next stage: defining potential revenue streams across many touchpoints

Using a channel manager is the most effective way to keep on top of reservations so you can negotiate best rates and, ultimately, maximise your profit