Revenue management Archives - Revnomix

Revenue management

The Role of Artificial Intelligence in Optimizing Revenue Management Processes

The Evolution of Revenue Management

Revenue management has undergone a significant transformation in recent years, driven by technological advancements and changing consumer behaviors. Traditionally, revenue management involves setting prices based on historical data and intuition. Howe
Hotel Revenue Management Outsourcing 2024

Understanding the Current Hotel Industry Landscape

The hotel industry has undergone significant transformations in recent years, with technology playing a pivotal role in shaping customer expectations and influencing business strategies. Amidst these changes, the concept of hotel revenue m
Top Guide to Seasonality & Revenue Management in Hospitality
Seasonality and revenue management are critical aspects of the hospitality industry. These aspects shape the success and profits of hotels, resorts, and more. Knowing and managing seasonality involves identifying the patterns and changes in demand that occur across the year due to factors like holid
How Hotels Benefit from the Revenue Management Concept & CRO Hotels can take immense benefit from the Revenue Management concept and Conversion Rate Optimization (CRO) in today's hotel industry. Why revenue management is important? Revenue management is important because it optimizes pricing strategy for hotels,
10 Reasons: Why the Quality of Data is Important for Hotels?

10 Reasons: Why the Quality of Data is Important for Hotels?

Data is information that is organized for a specific purpose. It is used to make decisions and inform operations, either in the form of raw facts or as statistical quality data analysis. Data can be numeric or non-numeric and can
Top Hotel Revenue Management and Pricing Mistakes & Solutions
Hotel revenue management and pricing are not everyone’s piece of cake! But this cake can be the perfect one if one avoids common mistakes. Hotel managers know that being successful is all about a good relationship with guests while driving a profitable revenue stream. It sure does not happen on
2023 Guide to Usage of Data Analytics in Revenue Management
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6 Ways to Boost Revenue with Hospitality Industry Technology
The importance of hospitality industry is very well known. It creates jobs, promotes tourism, and much more. Increasing hotel revenue is the ultimate goal in the hospitality industry. You can achieve this goal with the efficient use of tech. Tech is advancing at a fast pace and plays a crucial role
14 Technologies in the Hospitality Industry for Revenue Management
The way we work and live has been totally changed by tech. This fact applies to the hospitality sector, which has over
Hotel Revenue Management Trends & Innovations in 2022

The Future of Hotel Revenue Management

The hotel industry is one of the most competitive industries in the world. In order to stay competitive, hotels are constantly looking for ways to increase revenue. One way that hotels can increase revenue is by using a revenue management system. Reve
Reasons Why BI Tools Are Important For The Hotel Industry

What is Business Intelligence and Why is it Important?

Business Intelligence is a set of tools and techniques used to extract, integrate and visualize data that is useful for making business decisions. Business intelligence helps companies in their decision-making process. It can be used b
The Role of Social Media in Driving Revenue and Sales in the Hospitality Sector
With massive digitization at the present times, social media is a robust platform that drives business and customers to the hospitality sector! Social media has a powerful impact on almost every aspect of our life. It has changed the way individuals connect and changed the way businesses interact
Revenue Management and its Aspects
Robert G. Cross defines revenue management as "the art and science of predicting real-time customer demand at the micro-market level. It is about optimizing the price and availability of product" in his book Revenue Management: Hard-Core Tactics for Market Domination.

What is Revenue Management

Revenue Management during Low Demand Conditions
The global economic slowdown is impacting hotel demand. Revenue Managers have to implement different strategies in order to generate optimum growth and revenue. Here are some of the tips by the Revnomix team to ensure our hotel partners succeed during the low-demand period.

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What Gets Measured Gets Managed – Online Business
The uneasy relationship between Indian hotels and Online Travel Agencies (OTA’s) was recently in the spotlight. The apex hospitality industry body, the Federation of Hotel and Restaurant Associations of India (FHRAI) sent a notice to
Steps in Data Analysis
In today’s digital era deficient data is not a problem. In contrary, there is enough data available to take appropriate decisions. Now the challenge is to use the right data in the right process to draw the right decisions. A better data analysis facilitates an organization to use data in a better