What Revenue Management strategy do you follow?

Different types of Hotels may consider to use different types of revenue management. Question is: what’s best for your hotel?

Welcome back to GuestCentric’s workshop series Hotel Revenue Management Optimization.

The implementation of a revenue management strategy to maximize revenue and profits is crucial for any hotel. Although revenue management is consider by many a complex business strategy, the basis of it and objectives are very simple: being able to adapt the price of a service or product based on demand, competition, time, market and other factors in order to maximize profits and revenue.

This video helps hoteliers understand the different pricing/revenue management strategies and decide which one fits their property and sales strategy best.

RevPar: The main Key Performance Indicator

Learn why the combination between occupancy and average daily rate should be the main key performance indicator for your hotel.

Welcome back to GuestCentric’s workshop series about Hotel Revenue Management Optimization.

The implementation of a revenue management strategy to maximize revenue and profits is crucial for any hotel. Although hotel revenue management is consider by many a complex business strategy, the basis of it and objectives are very simple: being able to adapt the price of a service or product based on demand, competition, time, market and other factors in order to maximize profits and revenue.

I hope you find this information useful. Stay tuned for more information about:

• What revenue management strategy do you follow September 29, 2009
• Choose the pricing strategy that fits you the best October 20, 2009

Hi,

I hope you had a great summer. To be prepared for the new season I would like to share some good news with you. With the Fall 2009 release your GuestCentric capabilities have expanded to improve e-commerce success of your property. We want to boost your direct business and are listening closely to your suggestions. If you have anything you would like to tell us, do not hesitate to send us an email to suggestions@guestcentric.com, and keep checking back for additions and improvements.

Email Customization
	New email customization options will allow you to better communicate with your guests You can now use professional high-impact emails to better serve your guest. Use your own email templates and if your communication changes simply alter the templates and your changes will be automatically updated.
New Revenue option – Stay restrictions
	Stay restrictions will allow you to maximize daily revenue and increase control over your business In addition to promotions, minimum stay is now available to be used in room types. You are now able to set a minimum number of nights and ensure that reservations will only be available to arrivals with longer stays for specific room types or dates.
Booking Engine customization
	“Add details” button is optional For your convenience, it’s now possible to remove the option “add details” from your booking engine. Contact your Account Manager or send us an email to support@guestcentric.com, to request this change.
Latest technology supported by GuestCentric
	We are working hard to keep our system updated to work with new browsers releases. GuestCentric now supports the latest versions of IE8 and Firefox 3.5.
Website upload made easy
	Keep your current hosting, upgrade to a GuestCentric website Your GuestCentric website will be transferred to your current hosting provider using the well-known File Transfer Protocol (FTP), giving you total control over your hosting service. The system includes a backup functionality that enables you to restore the older version of the website.
Task manager
	Create your task list to better organize your daily work Now you can add your daily tasks and manage them using the task manager feature. To add a task all you need to do is just click in the “add task” and start typing. The tasks are saved automatically when you hit return.
Social Media
	Integration with Social Media websites is now a reality for your hotel You can start creating your communities on Facebook, Flickr and Twitter. Facebook will be used for providing news about special events and promotions, and engage fans and guests. Twitter will serve as a conduit for last-minute promotions, while Flickr will be used to upload your hotel website photos.
Email templates translations
	Email translations available for your Multilingual website and booking engine allow you to target different markets. Implement a Multilingual website and booking engine, and create different Multilingual emails to successfully target different markets and create more business opportunities.

Enjoy!
GuestCentric Team
Filipe Machaz
VP of Product Management