Consumers are often searching the web, but what are they looking for? In a word, they are searching for "Value". This is similar to price or rate, but actually quite different and often moves in opposite directions. If a great hotel goes down in price, then "value" to the...
Boutique Hotels are busy and many people wear lots of hats, so this video teaches Revenue Management (and Yield Management) in the simplest way possible. Learn the fundamentals of pricing rooms properly in the future, based on supply and demand, and learn how to do it efficiently, so you...
If you've tried to create content for all your social media channels, you know it can VERY time consuming. You need to select the right photo (or video), do some editing, write the text, and then modify for each social media channel. Pretty soon you've spent a few hours on a single...
For smaller hotels, getting better placement and visibility can be a major challenge, but if you figure out this problem, the revenue will follow. In just a few minutes, this video will show you the most important aspects of hotel room distribution.
On the internet, your hotel...
Some of you may be asking: "What is RMS?!" It stands for Revenue Management Software and if you've never heard of it, then you might not be ready.
On the other hand, I've spoken to many of you that know what RMS is, but you're not really sure if you are ready for this...
Revenue Management can bring tremendous financial benefits to a hotel, but only if the key data is mostly clean and up to date. 100% accuracy is obviously ideal, but you can still get value from this process with 99% or 98% accuracy. It does not matter if you are using Excel or using...
Culture gets developed over time, with repetition. And Company Culture is no different. Every company has a fairly unique culture, comprised of people, language, processes and styles. Revenue Management is a pretty analytical process, but companies do it slightly differently and...
No hotel likes cancellations, but a sensible, well-measured policy can have a big positive impact on revenues. And a knee-jerk, unmeasured policy can have a big negative impact.
Cancellation policies should not change frequently, but they should vary by season. In the high...
If you want to fly a 747 you can’t start there. You start with smaller planes and work up to the Jumbo Jet.
If you're building a house, you don't start by installing doors and windows. First you need to build a foundation and then walls and probably a roof. And then paint. ...
Many marketers pay a lot of attention to advertising and generating traffic to their website, but not enough attention to Conversion. But conversion can have a bigger impact on profitability. If you spent the same amount of money to get people to your website, but more of them turn...
Reading this for just 5-10 minutes per week might be the best investment you make.