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Revenue management is a crucial aspect of the hotel industry, enabling hotels to maximize their profitability by optimizing room rates and occupancy levels. Over the years, revenue management practices have undergone significant changes, adapting to the evolving needs and demands of the industry. In the early days of the hotel industry, revenue management was a […]
Have you ever wondered why hotel revenue management and the hospitality industry, in general, seem to be light years behind other industries like stock trading, pharma, or crypto? It’s a mind-boggling fact that hotels are still stuck in the dark ages when it comes to pricing, relying on manual processes in a world that thrives […]
The Role of Revenue Management in Hotels Revenue management is a crucial aspect of running a successful hotel business. It involves strategically adjusting hotel rates to maximize revenue and profitability. In today’s competitive hospitality industry, hotels must constantly adapt their pricing strategies to meet market demand and stay ahead of the competition. The Need for […]