view out of car with satnav reflecting how hotels can drive profitability with precision by utilsing ai and the pivotal role it can play in revenue management

Driving Profitability with Precision: AI’s Pivotal Role in Revenue Management

The key to being successful in revenue management is following data trends closely to set the right price for the right guest, AI is perfectly suited to support this hotel function

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green apple and red apple bing compared the same even thought they are different just because they are apples in much the same way hotels still use compsets just because they are all hotels

Stop Using CompSets to Make Pricing Decisions

Those CompSets themselves are being driven by irrelevant factors like employee emotions and outdated RM systems that are not fit for purpose

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3 people working in a hybrid hotel demonstrates the varied inventory needs required to respond to demand

How Hybrids & Hostels Can Rapidly Shift Inventory For Changes in Demand

Hybrids face unique challenges that include complexity of different inventory types in the same building but they also have particularly demanding customers

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dilapidated hotel reflecting need for hotels to start focusing on their website and check it is recession proof

Hotels Are Not The Future of Hospitality

There’s a new opportunity opening up in travel that will change the balance of power in hospitality over the next decade

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doors with one of a different colour reflecting why hotels should use a hotel rate shopper to compare their room prices with others

Micro Targeted Pricing Is The Future

Scratch beneath the surface of open pricing and it’s flawed. It relies on the operator and rules set. It’s time for a big leap into the future of pricing

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image for pace revenue new dashboard update announcement

Pace Revenue Launch Brand New Dashboard and Redesign Navigation

With our new portfolio level dashboard we want to help our customers understand how they are performing across their properties

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two puzzle pieces coming together reflecting new innovative revenue optimization products launched by LodgIQ

How an RMS Can Help in Periods of Low Demand

Uncertainty is real! We don’t know the forecast perfectly nor demand function. A modern RMS works 24/7 to adjust to uncertainty and to quickly adapt pricing

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hotel revenue management demand forecasting is like adding pieces to a jigsaw puzzle

Forecasting Uncertainty – The Metric We Need

Forecasting uncertainty is important for pricing and it’s important for the cost-benefit analysis that an RMS needs to make on behalf of the clients

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sad face reflecting how technology claims about increasing revpar are not always delivered

Why RevPAR Increase Marketing Claims Can be BS

It makes sense to let algorithms do much of the price change and a half decent RMS should deliver. But the question is – by how much will my RevPAR go up?

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steps representing the continual pricing approach required in towards hotel revenue management

Continuous Pricing without an RMS

These are some basic ways to get a feeling for Continuous Pricing concepts but only by embracing the four elements can you expect the best results

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