pricing

One way to tackle the new normal is operational benchmarking, a process that allows for analyzing, interpreting and operationalizing relevant market data

Inevitably, limits on capacity will lead to similar limit on the observable demand. As you phase inventory back in, it is likely there is additional demand

Hotel operators will monitor ratio of bookings to cancellations but should also keep an eye on their own and competitors’ rates and evolving patterns

If you equip your revenue manager(s), they will be able to be much more efficient and have more time to spend on the strategic aspect of their job

Whatever you’re including in your room rates plan, keep in mind what will be operationally possible, and what guests will be comfortable with

Hotel revenue managers have their work cut out for them now during the COVID-19 environment and once travel demand resumes

When considering Vienna as a popular city trip destination, it does indeed seem like hotels are strategising around domestic weekend travel in June and July

How do you move forward? How can a hotel use revenue management effectively in a market with little supply and nearly no demand? Here is the solution

Production statistics for every channel compared to the cost of distribution could easily give you the evidence of a revenue contribution for every channel and net rate (after cost breakdown) as well

We don’t know what a second wave will look like, and we of course hope there isn’t one, but being prepared now will hopefully alleviate some of the trouble later