Hotel & Motel Management - July 7, 2008 - (Page 42) 42 Technology REVENUE MANAGEMENT H&MM July 7, 2008 | HotelMotel.com www.HotelMotel.com/digital_edition BY BRIAN ALBRIGHT, CONTRIBUTING EDITOR Revenue management takes its next step Pricing and revenue management have become increasingly complicated in the hospitality industry because of the proliferation of new sales channels like Priceline and Expedia and the greater competitive pricing visibility available to guests. Revenue managers have to navigate a complex maze of multiple channels, rates and sources of data to optimize both profit and occupancy. “How do you forecast and optimize price and do all the things that revenue managers have always had to do while taking on all of this additional work?” said Linda Hatfield, v.p., product management at IDeaS, provider of the V5i solution. Software providers have been migrating from a traditional revenue-management model to a revenue optimization approach that encompasses channel, pricing and inventory management functions with demand forecasting, customer analytics and the ability to manage multiple sources of revenue. According to Dominic Beveridge, senior account manager for hospitality at JDA Software Group, one area where the demand forecasting capabilities of these systems have been improved is in managing demand in secondary or tertiary markets with lower occupancy rates. In these properties, lowering rates on a Sunday, for example, does not necessarily boost occupancy. “Just because you don’t have the ability to squeeze in terms of room rate and ancillary spending. “We divide the customers into segments based on the value they contribute and can recommend optimal rates or availability,” said Tammy Farley, principal and executive v.p., Rainmaker Group. At hotel/casino locations, properties can see a 15-percent lift in gaming profit per room using these solutions. “That dwarfs the lift The Mandarin Oriental San Francisco upgraded in room revenue,” Farley said. its revenue-management system to IDeaS V5i to Revenueuse its advanced reporting and other features. management analytics also are increasingly money out of being fully being combined with booked doesn’t mean you can’t competitive pricing information make money out of pricing,” to give revenue managers more Beveridge said. accurate recommendations Revenue-management without having to manually and optimization systems also evaluate their competitive set. can help identify which guests The key to the success of are the most profitable, both these new capabilities is the ability to integrate and retrieve data from the hotel’s propertymanagement and registration systems to help identify which guests present the most profitable opportunities. “If there’s somebody who comes to the hotel once a month, and they not only pay a decent rate, but also spend money in other areas of the property, you should know about that and make sure there is space available for them every time they call for a room,” Farley said. “That’s the holy grail of revenue management at the customer level.” tech TALK Resource Technology has partnered with Island Hospitality and Driftwood Hospitality to provide full brand-compliant project management for acquisition, installation and HD content procurement for flatscreen televisions. RTM’s scope of services includes purchasing assistance to brand standards, arranging for shipment, security, installation, programming and assistance with the HD content providers’ contracts. Kimpton Hotels & Restaurants launched an interactive Web site, “KIMPTON!” (I Am Kimpton, www.imkimpton. com) designed to recruit Generation-Y job candidates. The site features employee-generated video stories, employee profiles, job listings and interview tips from Kimpton’s c.o.o. Niki Leondakis. The Gershwin Hotel, New York, selected Inn-Phone’s new red TL-420 series for its 150 guestrooms. The phones feature a high-luster, eurostyle ABS cabinet with a customized faceplate. They were chosen to complement the hotel’s eclectic style. Trump Entertainment Resorts chose Wayport to provide high-speed Internet access to three of its hotel and casino properties in Atlantic City, N.J.: Trump Plaza Hotel and Casino, Trump Marina Hotel Casino and Trump Taj Mahal Casino Resort. Quotable “ It’s no longer OK [for users] to just look at the data on the screen and accept it They want more visibility as to where it came from.” TAMMY FARLEY, principal and executive v.p., Rainmaker Group MANDARIN ORIENTAL For more info Company Circle No. Amadeus . . . . . . . . . . . . . . . 289 Datavision Technologies . . . . 290 IDeaS. . . . . . . . . . . . . . . . . . 291 JDA Software Group. . . . . . . 292 Magnuson . . . . . . . . . . . . . . 293 Northwind-Maestro. . . . . . . . 294 Rainmaker Group . . . . . . . . . 295 Acentic, a supplier of digital interactive television systems for the hotel industry, announced that Dorint Hotels & Resorts is bringing its guests a new inroom experience with the installation of Acentic’s Vision Series. Compiled by Jason Q. Freed, jfreed@questex.com CIRCLE NO. 127 http://HotelMotel.com http://www.HotelMotel.com/digital_edition http://www.imkimpton.com http://www.imkimpton.com http://www.kenyonappliances.com http://www.kenyonappliances.com
Table of Contents Feed for the Digital Edition of Hotel & Motel Management - July 7, 2008 Hotel & Motel Management - July 7, 2008 Contents Brands Target Eastern Markets New Peer Network Promotes Innovation Noble Makes Moves Despite Slow Market Perspective Legally Speaking On Finance AAHOA Update Satisfaction Trends Trends & Stats HotelWorld Update Guest Column 2008 Purchasing Survey Refrigerators Transportation In-Room Ammenities Revenue Management Ad/Editorial Index Marketplace Classifieds Checking Out Hotel & Motel Management - July 7, 2008 Hotel & Motel Management - July 7, 2008 - Hotel & Motel Management - July 7, 2008 (Page 1) Hotel & Motel Management - July 7, 2008 - Hotel & Motel Management - July 7, 2008 (Page 2) Hotel & Motel Management - July 7, 2008 - Contents (Page 3) Hotel & Motel Management - July 7, 2008 - Noble Makes Moves Despite Slow Market (Page 4) Hotel & Motel Management - July 7, 2008 - Noble Makes Moves Despite Slow Market (Page 5) Hotel & Motel Management - July 7, 2008 - Perspective (Page 6) Hotel & Motel Management - July 7, 2008 - Perspective (Page 7) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 8) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 9) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 10) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 11) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 12) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 13) Hotel & Motel Management - July 7, 2008 - On Finance (Page 14) Hotel & Motel Management - July 7, 2008 - On Finance (Page 15) Hotel & Motel Management - July 7, 2008 - AAHOA Update (Page 16) Hotel & Motel Management - July 7, 2008 - Satisfaction Trends (Page 17) Hotel & Motel Management - July 7, 2008 - Trends & Stats (Page 18) Hotel & Motel Management - July 7, 2008 - HotelWorld Update (Page 19) Hotel & Motel Management - July 7, 2008 - Guest Column (Page 20) Hotel & Motel Management - July 7, 2008 - Guest Column (Page 21) Hotel & Motel Management - July 7, 2008 - Guest Column (Page 22) Hotel & Motel Management - July 7, 2008 - Guest Column (Page 23) Hotel & Motel Management - July 7, 2008 - 2008 Purchasing Survey (Page 24) Hotel & Motel Management - July 7, 2008 - 2008 Purchasing Survey (Page 25) Hotel & Motel Management - July 7, 2008 - 2008 Purchasing Survey (Page 26) Hotel & Motel Management - July 7, 2008 - 2008 Purchasing Survey (Page 27) Hotel & Motel Management - July 7, 2008 - Refrigerators (Page 28) Hotel & Motel Management - July 7, 2008 - Refrigerators (Page 29) Hotel & Motel Management - July 7, 2008 - Transportation (Page 30) Hotel & Motel Management - July 7, 2008 - Transportation (Page 31) Hotel & Motel Management - July 7, 2008 - Transportation (Page 32) Hotel & Motel Management - July 7, 2008 - Transportation (Page 33) Hotel & Motel Management - July 7, 2008 - Transportation (Page 34) Hotel & Motel Management - July 7, 2008 - Transportation (Page 35) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 36) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 37) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 38) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 39) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 40) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 41) Hotel & Motel Management - July 7, 2008 - Revenue Management (Page 42) Hotel & Motel Management - July 7, 2008 - Revenue Management (Page 43) Hotel & Motel Management - July 7, 2008 - Ad/Editorial Index (Page 44) Hotel & Motel Management - July 7, 2008 - Ad/Editorial Index (Page 45) Hotel & Motel Management - July 7, 2008 - Ad/Editorial Index (Page 46) Hotel & Motel Management - July 7, 2008 - Ad/Editorial Index (Page 47) Hotel & Motel Management - July 7, 2008 - Marketplace (Page 48) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 49) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 50) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 51) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 52) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 53) Hotel & Motel Management - July 7, 2008 - Checking Out (Page 54) Hotel & Motel Management - July 7, 2008 - Checking Out (Page 55) Hotel & Motel Management - July 7, 2008 - Checking Out (Page 56)
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