Revenue management is widely defined as the application of disciplined analytics that predict consumer behavior at the micro-market level and optimize product availability and price to maximize revenue growth. The primary aim of revenue management is selling the right product to the right customer at the right time for the right price. The essence of this discipline is in understanding customers' perception of product value and accurately aligning product prices, placement and availability with each customer segment. READ MORE

While there are many service industries, hospitality is certainly one of the most complex. The closest comparison may be a cruise ship, or, to a certain extent, air travel. But for something firmly rooted at all times to the ground, we'll take bragging rights. We are providing an extremely intimate service, lodging, within the confines of what is nothing more ambitious than running a small city. The modern hotel comprises housing; utilities and other infrastructure; security; an employment force; a commons, i.e. lobby; and, oftentimes, food, beverage and recreation. We bring together under one roof people from all walks of life, with varying needs, expectations and personalities, everyone from a business executive stressed over tomorrow's important meeting to a senior couple celebrating their 50th anniversary. READ MORE

The big data revolution isn't just on the way, it's already here. As of 2012, more data crossed the internet every second than was stored on the entire world wide web 20 years before. From bounce rate to time spent on site to conversion rate and more, it's now possible to access every step of the buyer's journey in great detail. As an enterprising hospitality professional, it's your job to take advantage of that unprecedented access to data. The problem is that big data often feels overwhelming, leaving you and your team to filter what correlations are important, which are just noise, or how to sift the wheat from the chaff and incorporate the useful data into your marketing strategy. Here are the changes and data to pay attention to. READ MORE

Freelancers and independent contractors are at the forefront of the New Economy. Hotel executives have the opportunity to work with members of this global network of experts and professionals. This movement benefits employers and employees alike, enhancing quality and increasing efficiency. These benefits can be an advantage for the hospitality industry as a whole, as talent expands and choice grows at an exponential rate. Seizing this chance to innovate is one that hotel executives can leverage regionally, nationally or internationally. These facts illustrate the strengths of the New Economy and its worldwide influence. Welcome to the beginning of a new chapter in business leadership. READ MORE

Due to the exponential growth of digital media, how we plan and book our vacations has changed dramatically over the past two decades. The environment is constantly evolving; with an increase in the use of mobile content being amongst the most recent advances. Travel Public Relations firms can help you to remain fully informed about this rapidly-changing landscape. Magazines, guidebooks and newspaper supplements were once seen as the ultimate authority on travel. But now the biggest touchstones also include online reviews, travel websites and blogs. READ MORE