Best practices in Revenue Management, part 2

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ehotelier.com
18/8/2010
By Jean Francois Mourier, CEO, REVPAR GURU

 This article is the second in a series addressing best practices in the area of hotel revenue management.

Two weeks ago in this space, we discussed two prominent operational areas of hotel management, strategic pricing and the general conception and underlying attitudes of successful revenue management.  When considering revenue management, though, more than these two aspects come to mind.  In fact, the most visible aspect of revenue management in today's operating environment is the use of the most up-to-date information available, one of the topics of today's article.  Another is rate discipline, which is subject to wide interpretation and can sometimes be at odds with other revenue management aims, like occupancy maximization. The third aspect of revenue management covered in this article is the important process of predicting future prices, and generating rates that align with those predictions.

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Best practices in Revenue Management, part 1

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ehotelier.com
By Jean Francois Mourier, CEO, REVPAR GURU

This article is the first in a series addressing best practices in the area of hotel revenue management.

Revenue or yield management in hotels is a practice that has evolved significantly in its relatively short history.  Adopted by hotels in the late 1980s, after the airline industry demonstrated great success using inventory, capacity and pricing to ‘manage' revenue, revenue management has become one of the most integral and identifiable aspects of hotel operating strategy. Yet perhaps understandably, today's brand of hotel revenue management differs significantly from that of two decades ago.  Changes in the general approach to revenue management, pricing strategy, channel management, inventory allocation and the use of information as pertains to revenue management have redefined the field.

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El sector hotelero chino atraviesa un fuerte periodo de crecimiento

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China Travel Trends
27/09/2010
 

El sector hotelero chino continúa experimentando un fuerte repunte durante 2010. El crecimiento económico del país, así como la celebración de eventos de masas -como los Juegos Olímpicos de Pekín en 2008 y la Expo de Shanghai de este año-, han favorecido el impulso de la industria turística nacional.

China se está convirtiendo en un importante destino turístico a nivel mundial. La Organización Mundial del Turismo (OMT) prevé que el 'gigante' asiático se convierta en el destino turístico más popular en 2020, circunstancia que augura un periodo de expansión y crecimiento del sector.

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Sheraton announces global spa concept

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Starwood Hotels & Resorts Worldwide, Inc.
17/09/2010
 

Starwood is proud to announce the launch of Shine for Sheraton, a global spa concept designed exclusively for Sheraton Hotels & Resorts.

On the heels of the brand's recent $6 billion brand revitalization effort, Shine for Sheraton will debut in new properties across the globe and as a new spa solution for existing hotels and resorts. Sheraton has selected Germaine de Capuccini, a leading global spa and skincare brand, as the preferred product partner for Shine spas.

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The new Ritz-Carlton, Hong Kong to be the tallest hotel in the world

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HVS International
22/08/2010

 

Located at the heart of the city, the Ritz-Carlton, Hong Kong will be the tallest hotel in the world when it opens in the first quarter of 2011.

The 312-guestroom hotel will occupy Levels 102 to 118 of the International Commerce Centre (ICC) in Kowloon. At the podium of the ICC will be a 1,000,000-square-metre shopping mall, Elements, which will feature different luxury brand names under one roof.

Other than its six dining venues offering a wide range of cuisines, the hotel also has one of the largest ballrooms in Hong Kong at 930 square metres.

The hotel is situated just 20 minutes from Hong Kong International Airport and five minutes from Central Hong Kong.