The Importance of Direct Bookings for Hotel Revenue Management: Tips for Increasing Direct Bookings
Direct bookings are essential for the success of a hotel. By encouraging guests to book directly, hotels can save on commission fees charged by Online Travel Agencies (OTAs) and gain better control over their pricing and inventory management. With the right strategies in place, hotels can increase their direct bookings and improve their revenue management.
Dynamic pricing. How to use it to benefit everyone?
Amazon, the largest e-commerce
website, Uber, the ride-sharing company and Airbnb,
the accommodation booking platform. These businesses are similar
not only in terms of rapid growth, but also in terms of dynamic
product and service pricing3.
RevPAR, TRevPAR or GOPPAR?
Systematic monitoring of the company's performance is one of the key factors for a successful business. In this article, we will look at and compare three key performance indicators used by lodging properties to measure efficiency: RevPAR, TRevPAR and GOPPAR.
Revenue management models
Revenue management plays an important role in making effective and strategically sound decisions in a lodging establishment. Although it is difficult to imagine modern company management without it, this area is often only a "privilege" for large hotels, since small accommodations are unable to employ a full-time manager due to limited resources. This, in turn, has contributed to the development of various alternative solutions.
What does it mean to manage revenue?
What is revenue management and what is the role of revenue manager in a lodging company? It is likely that such a question will still be posed by many lodging property owners. Such fields as sales or accounting are recognizable and common, but the assumptions of revenue management appear to be different or non-existent.