RM Courses

Mar

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

Tags: Marketing

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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

Jan

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

Dec

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

Categories: Uncategorized

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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

Nov

The 5 Cs of Building a Data-Driven Hotel Company

Categories: Analytics, Big Data, Budget, Data, General Management, Hotel Analytics, Revenue Management

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by Robert Hernandez

It is hard to argue with the claim that Analytics is the hottest buzzword in the hotel business today. More specifically, the impact of Big Data is now a global topic of conversation in industry, government, and education. In the hospitality industry, every function from RM to Marketing to F&B is becoming more data driven. Unfortunately, behind every technology bandwagon there are a plethora of unproven software startups cashing in on the unceasing pressure placed on managers to find a Read more

Oct

Two Guest Segmentation Algorithms That Every Hotel Revenue Manager Will Soon Be Using

Categories: Revenue Management

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by Robert Hernandez

The most popular pricing algorithms are great for optimizing Rooms Revenues, but fall short when it is time to consider the impact of rates on all the revenue streams. Unfortunately, that level of RM analysis is no longer enough. To achieve true Total Revenue Management, you need to follow and value your guests footsteps throughout their stay. This type of analysis begins by digging into the behavior of past guests and this is where things get complicated. Luckily, a couple of very Read more

Hotel Revenue Discovery Ideas

Revenue Managers have taken the Five Ps away from Marketers

3 Pace Report Metrics That Will Reveal Hidden Revenue

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

The 5 Cs of Building a Data-Driven Hotel Company

Two Guest Segmentation Algorithms That Every Hotel Revenue Manager Will Soon Be Using