Since yield is the process of generating every last dollar in revenues and profit flow through that of retaining every last dollar in profits, it is logical and appropriate that they be allies. But often they are found to be adversaries in the sense that they are working at cross-purposes. This can only hurt the business. If it is to realize its inherent power, Revenue Management must no more be treated as only a marketing strategy. Its effectiveness is in delivering incremental profit dollars from incremental revenue dollars. This is what the stakeholders will be expecting. The ones who harness this power are likely to survive the ones who do not. READ MORE

Hotel revenue managers used to forecast rates based on supply and demand. With the evolution of electronic distribution channels and in particular online travel agencies (OTAs) and meta sites have prompted hotels to seek new strategies for determining rates. Most hotels today do not permit OTAs to sell rooms for less than what the hotels charge on their own website in an effort to achieve rate parity. A successful revenue strategy for many hotel operators, and in particular operators who work in hotel chains, has been to offer a "best rate" guarantee. Social Media Review Sites are also having an impact in yield management. These are websites where comments by hotel guests can be posted about a guest's experience during their stay at the property. READ MORE

Now that managing social media is arguably becoming a mainstream activity for hotel marketing departments, it's time for hotels to begin to think beyond marketing applications, and dig into the opportunities to use social data and channels across the organization. Revenue managers, who typically lead the analytic charge within the organization, are uniquely poised to lead in taking advantage of emerging opportunities afforded by social media. However, with all the attention surrounding social media these days, hotel executives must able to see through the hype to develop effective use cases. READ MORE

Have you ever asked yourself at work - what am I doing here?, or - what this is all about and good for?, then you are not alone. Times have changed to a great extent. As companies re-establishing themselves and adapt to an ever-changing environment they slowly start to discover their true potential and assets - their staff members, realizing that without them there will be no company; most companies however still ignoring this fact. READ MORE

Many hospitality properties have taken a proactive approach to the ADA changes and hired an independent firm to conduct an ADA compliance inspection or survey, others have decided to wait and see. While these new regulations promise positive change for those with different abilities; much more can be done in an effort to offer an ADA Friendly environment for those guests. Go beyond the required ADA access; consider adding some of the measures or ADA Friendly features from the 2012 Checklist and become a truly ADA friendly property. READ MORE