Articles tagged “revenue management”

Travel bubbles were created to reinvigorate travel, but airlines will need to walk a fine line between pent-up demand and pricing to ensure a steady revival.

The pandemic has bewildered the airline software that pops out airfares based on historical data. But Alaska Airlines thinks new software will make it savvier.

The merger of Hotelogix, a property management system, with AxisRooms, a provider of revenue management and distribution services, and RepUp, an online reputation management tool, is probably one of many mergers likely in hotel tech in response to the crisis.

Hotels need to put aside their frustrations with software for forecasting and rate-setting. Revenue mangers will need all the help they can get to make sure they grab their fair share of the recovery in bookings.

Vista, the investor behind this merger of airline tech vendors Accelya and Farelogix, is no private equity tourist. The firm has committed tens of billions to technology businesses, and it shows signs of having the wherewithal to grow Accelya into a long-term player in airline tech services.

No matter the situation, hotel revenue managers need to figure out how to stack the right building blocks to forecast accurately, price with confidence, and maximize profitability. Taking small steps toward a more holistic approach to revenue planning and strategy is a smart — yet realistic — way to make this happen.

At first, U.S. airlines tried to keep prices steady for summer travel and beyond. But now that's going away. Most airlines are offering cheap fares on many routes through the end of their schedules.

Granted, this crisis is unprecedented. Yet hotels worldwide can learn lessons from how hotels have faced regional shutdowns, such as in Asia-Pacific in recent months, in Las Vegas after the shooting rampage, and elsewhere after hurricanes and financial crises. Managing room rates and marketing offers is critical to making the most of a rebound in demand.

Software may be eating the world, but in hotel tech it's still munching on the appetizers. Hotels have only begun to automate operational forecasts, such as how much revenue restaurants on a property may bring in or how much group business a hotel might steal from a crosstown rival.

Group business is crucial to a hotel’s revenue strategy. But growing group business is challenging and complex. In this insights deck, we examine how an intelligent sales strategy can help hotels make the most of the growth opportunities and win more meetings business in 2020.