There are two secrets to revenue management that fewer than 1% of revenue managers know. They use these secrets to grow revenues faster with less work. Over the next 5 years these secrets will enter the mainstream thinking and become the new revenue management foundation.
During 2015 we were attacked by poshtels. Since then hostels have been on fire. Recently, the sale of Generator Hostels and the launch of JOE&JOE marked the culmination of this trend. Hostels are now a serious business and industry. But how are they actually different from hotels on an operational level?
There are a lot of articles out there on Revenue Management and how to get started. But most of them start at the beginning...we think you should start at the end.
Last week I was collecting my thoughts on the state of revenue management and how hotels differ in their approach. It was a fun exercise to map the differences out and at some stage during the process I thought of a children's book I'd read years ago, Winnie the Pooh
The concept of price leader or setter versus price follower is often used among revenue managers. But what do these terms actually mean? And, more importantly, what use can we put them to?
You want to focus on guest experience and profitability. But large hotel groups with a data advantage force you to step up your revenue management game. What to do?
I’m very happy to announce to all of our customers and partners that Pace has today passed a significant milestone. We have completed a fundraise of more than £2.5 million to continue on our mission of giving hotels an entirely new way to think about revenue management.
The science team at Pace have spent the last 12 months building an engine to model price sensitivity. There are still lots of edge cases to resolve and improvements to be had but results are looking very, very promising.
Prices are a fact of life. Every time we sell or buy anything the transaction ends with an amount of money changing hands. But how do prices actually get decided?
How artificial intelligence will help hoteliers to optimise their pricing and grow their revenues.
Today PRIX completes a journey. Since September last year we've been falling in love with the hotel-industry. And we are ready to take this relationship to the next level.
Last month Prix turned one. It's been an incredible journey. Twelve months ago ago I had a co-founder in Atlanta, Georgia, a prototype which kind of worked but hadn't been tested, and investor money in a bank-account I had set up weeks earlier.
Prix was born in the spring of 2016. It was a crazy and emotional time. My girlfriend and I had our first child, Julius, on February 26 and I had taken three months of paternity leave from iZettle.
How independent hotels and hostels use data to their advantage, even though they have less than the big players.
Gross Operating Profit per Available Room (GOPPAR) provides a combined understanding of a property asset and its business performance.
We’re excited to announce our partnership with Mews Systems and welcome aboard hotels and hostels that use Mews Commander.
Two key questions for any person or group doing forecasting are: (1) How good are we in predicting reality? (2) How good are we compared to others?
I often get asked “What makes the underlying engine of Pace different? - And what are its advantages? This is my answer.
Revenue per available room (RevPAR) provides a broad benchmark of hotel performance.