Hotel Revenue Discovery Ideas

14
Aug

Add This Power Metric to Your Pace Report Today

Categories: Analytics, Hotel Analytics
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by Robert Hernandez

Sometimes the simplest math can deliver the most powerful analytics. In my experience this is, by far, the metric that captures the most attention on a Pace Report. When analyzing variances for revenue performance, there is one powerful metric that is easy to calculate and so easy to explain and everyone will be impressed when you use it. The Variance Analysis Components metric will let you show what portion of a variance in revenue is attributed to changes in occupancy Read more

14
Jul

Revenue Managers have taken the Five Ps away from Marketers

Categories: Analytics, Data, Forecast, Guest Analytics, Hotel Analytics, Marketing, Pricing, Revenue Management, Spa, Total Revenue Management
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by Robert Hernandez

For years, we’ve all been reading about the need to coordinate the activities of Revenue Management and Marketing into one synergistic Revenue Generation process. In practice what is really happening in many hotel companies is that the activities of both departments are not merging, but they are instead becoming the domain of Revenue Management. That RM is “taking” away many of Marketing’s traditional roles makes sense. As marketing has become more digital, it has inevitably become more data driven, and in most Read more

14
Jun

How to Become a 5-Tool Hotel Revenue Manager

Categories: Analytics, Hotel Analytics, Revenue Management
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by Robert Hernandez

In baseball, a 5-Tool player is one that excels at the skills of throwing, catching, running, hitting for power, and hitting for average. While they are rare, these players are considered the top athletes in the game and therefore command the highest salaries.  In Revenue Management the same is true for the most aggressively recruited and highest paid RMs.  They are the ones that have the perfect combination of skills which allow them to take any hotel company’s RM function Read more

14
May

3 Pace Report Metrics That Will Reveal Hidden Revenue

Categories: Revenue Management
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by Robert Hernandez

For many hotels, the time-honored Pace Report forms the heart and soul of their RM analysis. Pace Reports are usually designed to give the reader a quick snapshot of future rooms revenue versus the previous year. Since this type of report is typically widely distributed to many functions (i.e Sales, Marketing, Executives), the data tends to be aggregated to focus on total rooms performance by market. While this format may be useful for putting the current year’s performance in context, Read more

14
Apr

Avoid These Mistakes When Presenting the Effectiveness of Your Revenue Management Tactics

Categories: Uncategorized
Comments: 1
by Robert Hernandez

Revenue Managers are often tasked with deploying discounts and promotions in order to boost sales during low periods. The question that immediately follows these actions is whether the bookings would have been generated regardless of the special or promo. How to count whether or not the promotion was successful involves a little bit of math that we will not get into here, except to say that it’s not rocket science. What is more important is first, how you set up a Read more

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