Total Hotel Revenue Management is Not What You Think
By moving to a customer-centered set of measures, where the overall guest spend is more important than spend in any single outlet, you can embark on the path to Total Revenue Management.
How AccorHotels is Giving Revenue Management a Bottom Up Boost
A cultural shift at Accor, which is taking focused, cross-functional approach to revenue management at the individual property level, is a lesson for all. Who wants sub-optimal revenue management? Certainly…
The Unlimited Hotel Data Sharing Plan
With all the talk of Big Data, we are only at the most embryonic stage of establishing the interconnected hotel. In the typical hotel company, department heads still act as…
This Is What Total Revenue Management Analytics Looks Like
Five years ago, Dan Ariely, a professor and director of the Center for Advanced Hindsight at Duke University, compared Big Data to teenage sex for several funny reasons. I’d like…
Focus on Demand Optimisation For a Successful Total Revenue Plan
In this series of articles on Total Revenue Management (TRM) we started by identifying five core elements namely, Revenue Culture, Market segmentation, Seamless technology, Forecasting by Revenue stream and Optimisation…
Focus on Forecasting by Revenue Stream as Necessary Tool for TRM
Today’s hospitality landscape is characterized by increasing room supply and high cost margins. NB: This is an article from Bespoke RM And while there is enough space for everyone to…
Thinking In Terms of “Total Revenue Management”
Over the last 10 years, revenue management has gone from being an undertaking with uncertain financial upside potential to a strategic imperative with highly predictable revenue outcomes. NB: This is…
Total Revenue Management: Journey from capacity to profit management
It is a fact that over the last years, we have seen a growing need for traditional revenue management (RM) to evolve from having sole emphasis in maximising revenue mainly…