Revenue management in the hotel industry- Basics

Content mentioned in the video: Video: https://www.hotel-spider.com/en/insig... German LiveStream: https://www.hotel-spider.com/de/insig... Intro Video- Introduction to Hospitality Revenue Managemen:    • Intro Video- Introduction to Hospitality R...   A higher average daily rate and better occupancy – sounds like every hotel's dream, right? And that's exactly what Revenue Management can achieve! In this video, we will reveal the secrets of successful hotels and show you how to effectively implement this concept in your business. We'll walk you through the basics of revenue management step by step. Discover how to understand and predict your guests' demands. Learn to segment your market into different target groups and develop the optimal pricing strategy for each group. We'll also cover key metrics such as occupancy, average rate and RevPAR, so you can always keep track. We will also explore technologies that can simplify your daily revenue management tasks. This video is the perfect introduction for all hoteliers looking to optimize their pricing and maximize their profits. Timeline 00:00 Hotel revenue management basics 00:47 Revenue management for hotels definition 01:14 Context and history of revenue management 01:45 Hotel room nights are a perishable good 02:13 Hotels have a fixed inventory 02:32 Time variable demand makes revenue management more relevant for hotels 04:21 Price: price is a function of supply and demand also for hotels 05:31 Segmentation: different guest have different needs and wants 06:49 The right channel for your hotel sales impacts your profitability 07:50 Product: dont just think hotel room 09:03 The right time and understanding hotel pickup 11:05 Occupancy rate, average daily rate and RevPar - KPIs for your hotel 11:49 Revenue Management System Related videos for Hotel Revenue Management:    • Hotel Revenue Management in Krisenzeiten      • Hotel Revenue Management with Scott Dahl      • How to Increase your Direct Hotel Bookings...      • Fakten und Erfahrungen zu Hotel Revenue Ma...   Hotel-Spider is a cloud-based online distribution platform with a deep-rooted presence in the hotel technology market. We empower hospitality distribution as we imagine, develop and deploy customer-driven software solutions. Our goal is, to simplify the complex distribution landscape through our systems. Our Hotel-Spider Hospitality Distribution Platform includes booking engine, metasearch (Google, Trivago, Tripadvisor), central reservation system, PMS connectivity, and channel manager. Trust your Swiss specialists to optimize your online sales with an integrated and fully automated approach. https://www.hotel-spider.com  This Video includes: Music, Images and Stock footage from storyblocks.com and stock.adobe.com