Tag: revenue optimization

Airlines accused of hiking prices as people escape Hurricane Irma | Metro News

Airlines accused of hiking prices as people escape Hurricane Irma | Metro News

Airlines have been accused of hiking flight prices from Florida airports as thousands try to escape Hurricane Irma’s path. John Lyons said he booked a one-way American Airlines ticket for his daughter to come home on Thursday night. More than 1,000,000 left without power as Hurricane Irma batters Caribbean He paid $160. However, now the […]

Tourism and technology: What the future holds for travel distribution | Times of Malta

Tourism and technology: What the future holds for travel distribution | Times of Malta

Tourism service providers are increasingly focusing on incremental improvements to how consumers book and experience their product. With the changing landscape of e-commerce and the ubiquity of technological solutions, which gather, store, and analyse data, more travel businesses are monitoring their performance across channels. Very often, they are in a position to adjust their marketing […]

“The Future of Hotel Revenue Management” by Sheryl E. Kimes | Cornell Center for Hospitality

“The Future of Hotel Revenue Management” by Sheryl E. Kimes | Cornell Center for Hospitality

Abstract A survey of some 400 revenue management (RM) professionals finds that the application of hotel RM has gradually become more strategic and more centralized, but changes in RM practices have come more slowly than expected in the past six years. In particular, an earlier prediction that RM would be applied to all hotel revenue […]

How to Get Revenue Management Right for 2017 | 4Hoteliers

How to Get Revenue Management Right for 2017 | 4Hoteliers

Nowadays “Revenue Management ‘has become a buzzword in the hospitality industry’, but many operations executives and owners don’t know how the concept relates to them, in terms of implementation and get the most benefits out of it. Although revenue management doesn’t has a specific definition, but it is very well common known as “Selling the […]

Tips for more effective pricing in today’s high-tech world. | LodgIQ

Tips for more effective pricing in today’s high-tech world. | LodgIQ

Use channel-specific strategies It’s also typical to have multiple rate categories for various booking channels such as direct, OTAs, in app-branded reservations, last-minute apps and more. So, revenue managers must know room rates for each rate category, how the rate was calculated, and through which channel(s) that rate is being offered. Revenue managers must have […]

Forecasting and pricing are forever linked. Here’s why. | LodgIQ

Forecasting and pricing are forever linked. Here’s why. | LodgIQ

Deciphering the perfect revenue optimization formula is an ever more challenging feat. Shifting reservation channels and morphing consumer booking patterns continually conspire to make the right revenue mix a moving target. Additionally, customers no longer have static needs. They have different priorities per trip – meaning during each excursion, they’re more apt to be seduced […]