Tag: hotel revenue management
San Diego, CA – – San Diego-based HMG Hospitality has been selected as the new hotel management company for the Ontario Gateway Hotel. The full service hotel in Ontario, California was previously the Radisson Hotel Ontario Airport. HMG Hospitality will manage the property as an independent hotel before converting it to Delta by Marriott at
- Published in News
Within the hospitality industry, every season has its revenue advantages and disadvantages. Finding revenue success lies in focusing and capitalizing on each particular seasons advantages. Know the purchasing habits of your clientele. Familiarize your team with how to upsell certain items or services in the summer months. Take action to prepare the team and hotel for the summer season.
The only reason the peak summer season may fail to bring in an abundance of revenue is if your hotel team is unprepared. There’s still time yet to plan and get organized, and we want to help!
Spring has sprung and summer is nearly here! What does that mean? It’s officially vacation season. This can be an abundant time for your hotel, as long as you know how to maximize on the tourist season.
What is one thing nearly all spring and summer travelers are looking forward to? Experiencing the local culture of wherever they’re visiting!
If you own or operate a hotel, you’ll be well acquainted with two main reasons for a hotel’s existence – to provide a comfortable environment for guests to stay in and to bring in revenue.
Successfully owning and operating a hotel is a rewarding experience, but it isn’t without challenges along the way. One of the biggest challenges posed to the hotel industry is waste. Waste gets in the way of both aforementioned goals – providing a comfortable environment for guests to stay in and to bring in revenue.
How can the hotel regularly renovate, update, and improve if the revenue used for that is being wasted? How can a hotel determine how much real revenue is being earned, if much of it is leaking out due to waste?
If waste is an issue in your hotel don’t worry! Waste can and will be stopped. Half the battle is simply being aware of the waste, after that it’s about finding each and every area of waste, and rectifying it. So, hoteliers, we’ve prepared three steps you can take to minimize waste in your hotel.
The beginning of fall is the perfect time to strategically plan how to maximize revenue through the end of the year. When the holidays start to roll around, people are much more inclined to spend, and hotels are a popular item to spend money on.
Especially in the midst of family gatherings, holiday parties and the like, it can be an absolutely gold rush of revenue if you are prepared. We want to help you finish out the year strong so we’ve compiled the following tips for your benefit:
Is your hotel in need of increase revenue from B2B business? We’re guessing yes.
Especially if your hotel’s revenue mostly comes from B2B, this isn’t true of all hotels, but it’s safe to say that B2B revenue typically makes up a large chunk of the revenue pie.
The question remains – how? Of course all hotels desire more B2B revenue, but how do they get it? Through a variety of methods, including, but not limited to, the following.
In a hotel, maintaining peak performance levels requires many resources. Figuring out how to decrease waste while keeping performance standards and levels high, is a challenge to say the least.
Yet, not figuring out how to decrease waste is bad news for your hotel on two fronts – the environment + the bottom line.
Negatively impacting the environment may also negatively impact your hotel’s reputation. It’s no secret that consumers are much more environmentally aware, and take notice when establishments aren’t.
The fact remains that wastefulness must be avoided, with efficiency and sustainability taking it’s place.
When it comes to revenue opportunities for a hotel, there are two main categories: Sales and Savings.
Both categories are useful and can be applied in different settings. Adopting strategies and implementing new tactics that save money by cutting back on a cost is very beneficial, and is more of a long-term strategy. Investing money up front, perhaps in some sort of product that can be sold, is also an excellent source of income for a hotel.
All too often the quick-pace of life gets in the way of taking the time to assess where more revenue might be saved or acquired, ultimately hurting a hotel’s bottom line.
We’ve compiled a quick list of some often overlooked revenue ideas for hotels from both categories. Ways to save revenue (thus increasing it over time), or to immediately increase revenue.
- Published in Hotel Revenue
Hotels are an integral part of our society. Utilized for leisure, business travel, conventions, special events, and a million other reasons. Folks use them everyday, they are depended upon, and generally enjoyed. On the flip side, there’s heavy competition in the industry, and a constant challenge to experience high levels of success as a hotel owner.
There are many variables at play when it comes to owning, managing, and operating a hotel, and it’s imperative that a keen eye is kept at all times. The industry is constantly changing and evolving, and a successful hotel must not only keep up with the changes, but transform ahead of them.
Constant evaluation of strategies and tactics is crucial. In order to achieve long-term success, a hotel owner must be able to balance, make decisions about, and produce results in all of the departments – finance, marketing, sales, catering, rooms, channel distribution, as well as overall management.
10, 9, 8, 7… the countdown has begun, and no, not for the epic ball drop ringing in 2016, but for the rapidly approaching due date of your hotel’s budget and marketing plan for the new year. This is an instrumentally important tool for your hotel, it can truly influence the success or failure for the next year.
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