In this article, Drew Salapka, Director of Revenue Management for Atlanta-based Hotel Equities, draws on more than 15 years of hospitality experience to present tips from an insider for creating and executing strategies to leverage revenue management efforts. On a daily basis, he works with more than 15 different hotel brands to maximize revenue and grow the firm's portfolio. Although he acknowledges the benefits of brand research and reports, he also suggests reaching out to OTAs and utilizing all resources available. He also reminds the reader that relationships are the most important factor in the process. Personal relationships must be developed and nourished between the revenue manager and everyone with whom he works. The hotel business is first and foremost a "people business". READ MORE

In recent years there has been a steady increase in the use of internet sites by customers, especially the use of third party booking programs to assist them in planning their holidays. This has helped to dramatically change the way in which hotels manage their room rates and occupancy levels around the clock. In 2008 alone, it has been estimated that 40% of all hotel bookings will be generated by third party internet booking sites. A figure of such potential magnitude as this obviously represents a large slice of a hotels potential clientele base. As the majority of hotels are continuing to embrace this new technology, many are forgetting to ensure they have the correct revenue management support in place beforehand. READ MORE

Energy efficiency and conservation programs are good for the environment, but they are also excellent ways to cut costs. However, when expressing your commitment to green initiatives to guests, in order for the message to have the desired outcome - that being a greater affinity to your property - you must use physical displays instead of just language to describe efforts. Our emotional connection to words is not nearly as powerful as it is objects we see with our own eyes. Therefore, in order to be perceived as an environmentally friendly hotel, place 'green' upgrades out in the open for your guests. READ MORE

Whether it is an opening hotel for which a solid foundation has been laid with a good network of vendors for supply of good and services of the requisite quality and at an acceptable price over a period of time or it is an operating hotel which runs like a well-oiled machine owing to a guaranteed availability of quality items at a quantity and price which brings economies of scale, there is an appearance given that the profitability of a hotel or group of hotels is magically being enhanced by an unseen hand. While there are contributions made by all departments to this, it is often true that the procurement department ends up being the unsung hero. READ MORE

One of the most common ways hotel brands clarify the position of their hotels relative to consumer expectations and the competition is through segmentation - that is, identifying a grouping of competitive hotels based on one or more commonalities. Generally in the hotel category, segmentation is price based - properties are grouped in price segments based on ADR. However, this is not the way travelers segment hotels in their minds - or if it is, they are extremely confused as to how much they pay for hotel rooms in different brands. Either way, there is a mismatch between the segments hoteliers think the brands are in and what their guests think, and this may be a major contributor in the eagerness with which travelers default to the cheapest priced option or seek out deals: the brands are charging rates appropriate for segments higher than those the customers believe the brands are in. READ MORE