Blog Archive|Revenue Academy

Revenue Academy Webinar: Step By Step to Revenue Management Success

by RBD admin | Monday, August 2, 2021 | Revenue Management, Uncategorized | 0 Comments

It has never been more important for hoteliers and those who are part of the booking process, to understand revenue management. Understanding how revenue affects the overall success of a hotel or hospitality business is key. With this series of webinars, we’ll go over the main points of each Revenue Academy module and discuss key areas in more detail. View the on-demand version below and find out about: Understanding how and why revenue management works The three cornerstones of revenue management: Price, Structure and Quantity The journey to strategically thinking about revenue management...

Do you know the questions you need to be asking for effective market segmentation?

by RBD admin | Wednesday, April 21, 2021 | Revenue Management | 0 Comments

Effective market segmentation – or differentiation of customer groups depending on how and when they buy, and what they are looking for from their stay - lies at the very heart of a successful revenue strategy. A focus on developing customer insight and understanding behavioural patterns will allow you to design a strategy aimed at offering the right customer the right price at the right time, optimising revenue and profit. While marketing customer segmentation focuses on demographic characteristics of the guest such as age, gender, and income, this data is typically not available to the...

You have all the answers- you just need to ask the right questions!

by RBD admin | Friday, April 9, 2021 | Revenue Management | 0 Comments

For those with little or no experience in revenue management, formulating a revenue strategy can seem daunting. A practice seemingly loaded with spreadsheets and acronyms can overwhelm - and how do you even know if you are doing well anyway? It can be bewildering. But that doesn’t have to be the case. Pricing strategies are not the result of a weird wizard-like algorithm only privy to those with the word ’revenue’ in their job title. They start, quite simply, with a suite of information particular to your property. Attributes and data such as location, star rating, demand patterns, and...

The conversation is changing – don’t get left behind

by RBD admin | Wednesday, March 31, 2021 | Revenue Management | 0 Comments

While the pandemic has left many aspects of our hotel operations open to uncertainty, one thing is pretty much guaranteed. The importance of revenue management in recovery strategies. Revenue and pricing decisions have been heavily dependent on the analysis of historic data. Even the most basic revenue strategy could rely on planning around long-established periods of peak and low demand. However, the last year has seen this turned on its head, as tried and tested year on year data has been rendered meaningless. Embedded travel routines have long been forgotten as lockdowns, quarantines and...

‘Revenue Academy’ takes revenue training online

by RBD admin | Monday, March 29, 2021 | Revenue Management | 0 Comments

At the heart of Revenue by Design’s operation has been the desire to drive awareness and understanding of revenue management within hospitality. We are passionate about the power of a well thought out and executed strategy that can transform bottom- and top-line profitability. Over 500 hospitality professionals have chosen to further their revenue knowledge with our classroom-based training courses, something we are very proud of. However, lockdowns and government-enforced restrictions brought an abrupt halt to our training workshops last March. Just as hotels faced more pressure than...

A year like no other – what have we learnt?

by RBD admin | Friday, March 12, 2021 | Revenue Management | 0 Comments

You can be forgiven for wanting to close, bolt and double lock the door on 2020 as quickly and firmly as possible and cross your fingers for a more promising 2021. The start of the year was full of optimism with demand high and occupancy levels healthy. But before we even had a chance to slip up on our New Year’s Resolutions, murmurings of a virus emanating from China started to seep through into the wider consciousness. As parts of the Far East went into a draconian style lockdown, hotels with a heavy reliance on the Asian market were the first to witness a taste of what lay ahead as travel...

Revenue Management Key Takeaways from 2020

by RBD admin | Friday, March 12, 2021 | Revenue Management | 0 Comments

Following the publication of our thoughts on 'What we have learnt in 2020' blog, industry experts worldwide shared with us their views on how 2020 shaped up for revenue management and those in the discipline. These are now available in one document for you to download, featuring over 50 tips on how to drive a revenue management strategy during a pandemic. Not surprisingly much of the feedback has been related to the bigger picture- the business model, the cost base, and the market. All elements that revenue management needs to consider prior to implementing strategies and tactics and in many...

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