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The Pros & Cons of the Commonly Used Booking Restrictions

Every hotelier has used a restriction in their pricing strategy at one time or another. Whether a minimum length of stay (MinLOS) requirement over a particularly busy period, or a restriction on a particular day preventing new arrivals (Closed to Arrival – CTA), these restrictions are a common business practice. But are they the best[…]

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Deep Discounting Doesn’t Work

Black Friday is a day filled with discounts on every product imaginable and for days beforehand, serious bargain-hunters are strategically planning their “plans of attack”. This past Black Friday, which took place last month, gave US discount shoppers a fantastic opportunity: the ability to purchase hotel stays at many properties across the country for only[…]

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Think Beyond the Compset

When did your Compset die?

For many, many years, hotels have used their property’s compset (also known as the competitive set) in order to gauge their hotel’s performance against the competition. That is definitely a smart business decision! But unfortunately, many of those same hotels are using their compset as their only basis for determining pricing of their rooms –[…]

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The Stock Market vs. The Hotel Industry

The history of the stock market… I’m sure it’s not a topic that most in the hospitality industry have ever contemplated in great detail but that should change right now. Why? Because hoteliers and revenue managers can learn a great deal from the evolution of stock market technology that will benefit their property’s revenues. The[…]

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Is Revenue Management Only Useful For Luxury Hotels?

In the past, revenue management was a practice that only high-end, luxury properties implemented for two major reasons: first, it was hugely cost prohibitive, and second, it required the hotel to hire a revenue manager to execute the processes (or oversee the revenue management system – RMS). Only properties with large budgets – both for[…]

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Revenue Management: How to Price Your Rooms Correctly Every Time

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In today’s highly competitive travel industry, implementing effective real-time pricing strategies has become an operational imperative for all hotels, no matter their size, type or star rating. While revenue management has been a hotel buzzword for years, many hoteliers seem to have conflicting understandings about what exactly constitutes revenue management. So, I’m here to remind[…]