Understanding key metrics is crucial when it comes to revenue management in hospitality. But with acronyms like ADR, TRevPAR, NOP, and GOPPAR, grasping them all can feel overwhelming, let alone using them effectively. Today, we’re focusing on one game-changing metric: Revenue Per Available Room or RevPAR. Once mastered, this single indicator can transform your hotel's financial performance. We have the perfect article that covers everything you need to know to get started with RevPAR, from calculating it to using it for strategic decisions. https://lnkd.in/dc7YC44c No time to read? No problem! Listen to our articles on the go 🎧 #HospitalityIndustry #HotelManagement #RevenueManagement #RevPAR #HotelMetrics #HotelTech
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Where my Revenue Management gurus at? Challenge yourself with the "Hotel Revenue Management Challenge" from IDeaS Revenue Solutions. This game tests your ability to make revenue-maximizing decisions. Compete against a hotel that uses G3 RMS and let me know in the comments below how you did. I've heard some impressive numbers on this, what's your best RevPAR? #RevenueManagement #HotelManagement #Hospitality Play the game here: https://lnkd.in/gXnxhSE5
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Elevate your hotel's profitability to new heights with RevConnecta! Unlock the power of adaptive revenue management, fine-tune your pricing strategy, stay ahead of the curve with market trends, and watch your profit margins soar. #RevConnecta #RevenueBoost #HotelSuccess #dynamicpricing #maximizerevenue #monarchhospitalitygroup
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💡Duetto’s latest annual survey - Revenue Management Outlook & Trends Survey 2024 - helps us stay ahead of the ever-changing hospitality landscape: https://bit.ly/3RR89YR With the input of industry professionals such as hoteliers, revenue consultants, owners and asset managers, we are able to gather insightful information and put together a picture of what the year ahead will look like, and which trends to watch out for. Take the five-minute survey and share your valued opinions with us today. #RevenueManagement #TrendsAndPredictions #HotelTech
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Reason 7 – By capitalizing on the incremental revenue generated through upselling and cross-selling premium services at the front desk, your property's net operating income can experience significant growth. It's a goldmine you don't want to overlook! Thank you for joining us this week as we explored 7 compelling reasons why utilizing upselling and cross-selling tactics can propel your hotel's profitability to new heights. Be sure to explore our earlier posts for insights into why maximizing guest relationships and recommending premium offerings tailored to their needs matters. For more comprehensive insights into these strategies and other untapped revenue opportunities, delve into our complimentary e-magazine, REVREV. 📖✨ Don't miss out—grab your free copy now! https://bit.ly/3tLZiOS #hospitality #service #boostrevenue #boostprofitability #emagazine
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Today's Revenue Management thought:- “Hmmmmmm”……… Hope this is not how budget decisions are made at your property…. Have a profitable week. ✌🏼 N. Hall Consulting 🔔 Ring the bell ➕ Hit "+ Follow" 💬 Leave me a comment 👍 Like this, give it a thumbs up #Hotels #Hospitality #Distribution #RevenueManagement #OutsourcedRevenueManagement #Revenuegrowth #DistributionStrategies #Consultant
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August's numbers are in & the results are clear. Total Revenue Management is the only approach to consider for Hotel's looking to maximize their revenue. #TrevPARWorld #RevenueStats #TotalRevenueManagement #HospitalitySolutions
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Explore the transformative power of dynamic pricing in the hospitality industry. Our latest article delves into how channel management and booking engines are essential tools for maximizing revenue 🏨💰 🔗 Link to article: https://bit.ly/4dmw230 #Profitroom #HospitalityManagement #RevenueOptimization #TechnologyInHospitality
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Today's Revenue Management thought:- “Hmmmmmm”……… Hope this is not how budget decisions are made at your property…. Have a profitable week. ✌🏼 N. Hall Consulting 🔔 Ring the bell ➕ Hit "+ Follow" 💬 Leave me a comment 👍 Like this, give it a thumbs up #Hotels #Hospitality #Distribution #RevenueManagement #OutsourcedRevenueManagement #Revenuegrowth #DistributionStrategies #Consultant
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Striving for perfection in revenue management can be a slippery slope. Dive into our blog to uncover why over-optimization might not be the holy grail of revenue strategies: https://lnkd.in/gvyWtCjF. We explore the drawbacks of obsessing over every algorithmic tweak and offer a more balanced approach that won’t drive you—or your revenue—crazy. 💡💰 Is your revenue strategy teetering on the edge of over-optimization? Let’s chat about how to find that sweet spot between perfection and profitability: https://lnkd.in/evx5zKsw 🚀 #RevenueManagement #BusinessStrategy #Optimization #Profitability #BusinessGrowth #Hotels #ToplineTips #HospitalityIndustry
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Today's Revenue Management thought:- It’s a team effort ! Preparing a hotel budget can be a daunting task, but it's important to share it with various teams for feedback and refinement. Achieving financial goals is a team effort, and getting acceptance of, and active support from everyone involved is essential. Remember to revisit your budget regularly to refine your strategy for the future and understand current performance. Have a profitable week. ✌🏼 N. Hall Consulting 🔔 Ring the bell ➕ Hit "+ Follow" 💬 Leave me a comment 👍 Like this, give it a thumbs up #Hotels #Hospitality #Distribution #RevenueManagement #OutsourcedRevenueManagement #Revenuegrowth #DistributionStrategies #Consultant
