Hotel Revenue Management
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RetailWire Discussion: DIY Chain Tests Variable Pricing - Colloquy.com

RetailWire Discussion: DIY Chain Tests Variable Pricing - Colloquy.com | Hotel Revenue Management | Scoop.it
RetailWire Discussion: DIY Chain Tests Variable Pricing Colloquy.com He added, "Yield management techniques are not new — it's just they haven't traditionally been used in retailing." Discussion Questions: Can dynamic pricing similar to the methods...
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Despite the slew of negative comments, this seems like an excellent idea to me.  Custom made sales specifically targetted to the individual based on wifi and cellphone technology.

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Why some passengers are intentional 'no shows' - STLtoday.com

Why some passengers are intentional 'no shows' - STLtoday.com | Hotel Revenue Management | Scoop.it
Why some passengers are intentional 'no shows' STLtoday.com The task of ensuring that these strategic absences aren't felt in the bottom line falls to airlines' sophisticated revenue-management programs, which are designed to oversell a flight...
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Two points I'd like to make regarding this article.  1. Customer no shows translate into more aggressive overbooking policies for hotels and airlines. 2. If your client does not show, you still have gained the revenue for the flight/night.  This may be shortsighted, but only if other companies are offering very different exchange policies than your own (eg Southwest has no change fees).  In my mind, the problem lies mostly if you are a hotel with a now unchargable multi-night stay, but this was always a risk to contend with.

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Hospitality Net - The New Discipline of Revenue Strategy Takes Center Stage at the Hotel Industry’s First Revenue Strategy Summit (RSS)

Hospitality Net - The New Discipline of Revenue Strategy Takes Center Stage at the Hotel Industry’s First Revenue Strategy Summit (RSS) | Hotel Revenue Management | Scoop.it
New York, November 12, 2013 … There was a sense something bigger was at work than "just an industry conference," as 200 leaders from the fields of revenue management, marketing, sales and distribution converged on today's first annual Revenue...
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The birth of Revenue Strategy

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Property Management Company Deploys Software to Drive Revenue for ... - Hospitality Technology

Property Management Company Deploys Software to Drive Revenue for ... - Hospitality Technology | Hotel Revenue Management | Scoop.it
Property Management Company Deploys Software to Drive Revenue for ...
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Over the past 12 years, Rainmaker has helped casion properties raise their revenues from 5 to 15%

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ERP System In Malaysia: Yield Management And Hotel Software

ERP System In Malaysia: Yield Management And Hotel Software: ERP System In Malaysia. ERP System For Manufactur... http://t.co/foh5L3AMZH
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Huong Hoang's curator insight, May 5, 2016 12:03 AM
In this literature, they explained about Yield Management well by giving evident to support their ideas. For hoteliers, “yield-management " is not only about using equipment or technology to control the business effectively but also relates to using the "right person for the right position". They also mentioned about the staff who need to have education and well trained; Brotherton and Turner (2002, pp.25) also support this view, they said that hoteliers must concentrate primarily on people and that organisational and software programmes are less important.

 What if the hoteliers have amazing plan structure or some great projects to improve their hotels but their staff are not able to do that?. Obviously, that would be failed. In my opinion, yield management has more meaning than just about controlling (about human resource, product, profit and value); it also includes how to improve that. In addition, the investment in those fields would help them to control the output of their business. 

 However, to have a great yeild management systems, hoteliers need to focus on developing in many sides equally including: _Education and training, 
_ An appropriately designed and delivered product, and 
_ Corporate policies and procedures that encourage revenue enhancement.

Reference:
Brotherton, B. & Turner, R. (2002). Introducing Yield management systems in hotels: getting the technical/ human balance right. Journal of Services Research, 1 (2), 23 - 25. Retrieved from http://web.a.ebscohost.com.ezproxy.angliss.edu.au/ehost/detail/detail?vid=7&sid=55644d61-7cdf-4a4d-a887-d5d7d808ad3a%40sessionmgr4003&hid=4106&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=buh&AN=9893574
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Warner Leisure Hotels deploys Versonix Seaware and sees immediate return on ... - PR Newswire (press release)

Warner Leisure Hotels deploys Versonix Seaware and sees immediate return on ...
PR Newswire (press release)
The increase is due largely to Seaware's unique shopping-by-attributes feature, as well as its patented revenue management capabilities.
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Business acumen key in revenue management

Business acumen key in revenue management | Hotel Revenue Management | Scoop.it
It's easier to teach hotel lingo to someone with the revenue management aptitude rather than to someone with the hotel aptitude, said Fairmont Raffles' Neal Fegan. ...
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Restaurant Revenue Management

Restaurant Revenue Management | Hotel Revenue Management | Scoop.it
Restaurant Revenue Management Restauranteurs who are thinking of employing revenue management techniques should be aware that it works slightly differently than in the hotel or airline industries. ...
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RESTAURANTS NO LONGER LEAVE PRICE ON THE TABLE

RESTAURANTS NO LONGER LEAVE PRICE ON THE TABLE | Hotel Revenue Management | Scoop.it
When you think of variable pricing for revenue management, you tend to think of the travel industry. After all, airlines invented yield management  and hotels soon followed. But along the way came ...
David Rajzman's insight:

This is an interesting article that prompted me to delve further into the topic on my blog, The Revenue Management Blog.

 

http://therevenuemanagementblog.wordpress.com/2013/01/03/restaurant-revenue-management/ ;

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Will Guest's curator insight, May 4, 2015 8:57 PM

“When you think of variable pricing for revenue management, you tend to think of the travel industry. After all, airlines invented yield management  and hotels soon followed. But along the way came a lot of customer frustration and confusion”.

It is widely known that the airline and travel industries were the front runners of yield management, with seasonal pricing and peak and non -peak pricing being extremely variable, and questioned by many, yet action taken by no one, simply because in many circumstances people need to go to places, and no matter what the charge they reluctantly have to pay it. The hotel and resort industry followed soon after obviously. It is discussed that no matter what the price is, if something is in high demand, no matter what the pricing, it will still be used. So why not increase the prices, although, unfair and extremely biased to higher ends of the market it is still a very viable option for business to use. Although this article is mainly discussing restaurants now using yield management, the benefits and disadvantages are still the same, and the ethical issues are also still the same. However these industries are often based on the dependency for seasonal markets and peak times during weeks, so perhaps for the sustainability of the businesses it is necessary.

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IDeaS to launch new social media analysis software - HispanicBusiness.com

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Reputation Management Pricing - with IDeaS's new software tools, you can quantify the value of your guest's opinions and see the direct impact of the quality of your service on the bottom line.

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IDeaS partners with Brand Karma and ReviewPro to integrate social media data. ~ Saturday, 23rd November 2013 from 4Hoteliers

IDeaS partners with Brand Karma and ReviewPro to integrate social media data. ~ Saturday, 23rd November 2013 from 4Hoteliers | Hotel Revenue Management | Scoop.it
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IDeaS invents a new tool to take social media into account when pricing.

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Why some passengers are intentional 'no shows' - Charlotte Observer

Why some passengers are intentional 'no shows' - Charlotte Observer | Hotel Revenue Management | Scoop.it
Why some passengers are intentional 'no shows'
Charlotte Observer
But the programs handling airline seat inventory, which are called yield-management systems, don't need to be reset when change fees increase.
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DataArt Sponsors Revenue Strategy Summit

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November 12, 2013, at the Affinia Manhattan, New York

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Food and Money in 2020 - Fast Casual (blog)

Food and Money in 2020 - Fast Casual (blog) | Hotel Revenue Management | Scoop.it
Food and Money in 2020
Fast Casual (blog)
How does online and mobile ordering help with yield management? Online and mobile ordering means a better, faster experience for both the consumer and the crew.
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The future of restaurant revenue management?  Order from your phone and pick up as soon as you arrive.  This company, OLO, wants to make waiting in line history!

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Spirit CEO Says Fees Should Rise at Peak Times, Calls JetBlue 'Icarian' - TheStreet.com

Spirit CEO Says Fees Should Rise at Peak Times, Calls JetBlue 'Icarian' - TheStreet.com | Hotel Revenue Management | Scoop.it
Spirit CEO Says Fees Should Rise at Peak Times, Calls JetBlue 'Icarian' TheStreet.com In a wide ranging interview after the carrier released third-quarter earnings on Wednesday, CEO Ben Baldanza discussed applying yield management to ancillary...
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Keeping Up With Revenue Management Trends – Prepare Your Strategy for What’s Next! - Knowledge Center - HSMAI

Keeping Up With Revenue Management Trends – Prepare Your Strategy for What’s Next! - Knowledge Center - HSMAI | Hotel Revenue Management | Scoop.it
A look at what trends will continue or emerge in revenue management in 2013. (#Reading Keeping Up With Revenue Management #Trends – Prepare Your Strategy for What’s Next!
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"Empirical studies of revenue management practices: Understand ...

This dissertation empirically examines factors that challenge revenue management practices in travel industry—air-travel and lodging. In particular, it focuses on strategic interactions among firms and strategic interactions between firms and ...
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REVENUE MANAGEMENT - Hozpitality Plus- Dedicated Hospitality ...

REVENUE MANAGEMENT - Hozpitality Plus- Dedicated Hospitality ... | Hotel Revenue Management | Scoop.it
Revenue Management On a flight to Goa, two passengers were discussing about the price they paid for the flight and hotel. They were amazed at the price diff…
David Rajzman's insight:

Revenue management can be of great benefit to the bottom line, but if you do  not have clear, open and rational reasons for price discrimination, it is likely to result in angry, upset and confused customers.  Generally, customers are willing to trade benefits for price reductions, e.g., getting a low rate by accepting a non-refundable, non-changeable reservation, or by purchasing in advance.  Clear rules will help prevent frustration on the part of your customers, leading to better customer service and long term profits.

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