Yielding room types and the power of open pricing

I still get plenty of questions about exactly what open pricing is and how it works. And more pointedly, how the hell is it even possible. Earlier this month I spent hours in panels and at parties at HITEC and ROC answering those questions.

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The 5 Traits of a Successful Revenue Manager

Revenue strategy is probably the newest profession in the hotel industry and one more important than ever. At the dawn of the discipline, the GM or director of marketing at a hotel would pluck a member of the staff who was good with numbers,...

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8 Steps to Improving Demand Forecasts

Because hotel rooms are perishable goods with a shelf life of one day, it’s important for hoteliers to maximize their value. The clearer the picture you have of upcoming demand, the better you can prepare accordingly in many phases of operation,...

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Experimenting With Price Elasticity and the Fallacy of the $0 Bid Price

Other revenue management systems tout features showing customers how much more revenue a hotel made using their system over what it would have made without. We just wrapped up board meetings in New York and were asked why we weren’t offering...

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