How hoteliers are rethinking the revenue metric dilemma

In this episode the second of a mini-series on revenue management and pricing strategies, we speak with Radisson, Preferred Hotels and IDeaS RMS about the hotel performance metrics and how they are changing. In a recent survey between IDeaS RMS and The Caterer, responses show that independent and regional hoteliers look at hotel revenue and  commercial metrics differently. Key insights include:Despite over 7 in 10 (70.9%) claiming they have an integrated revenue strategy - also known as Total Revenue which incorporates all hotel departments - RevPAR (30.6%), Occupancy (22.2%) and ADR (17.6%) remain the dominant metrics for measuring business success. Profit, a better reflection of a hotel’s overall business performance, is used by 16.7% of respondents, with TRevPAR used by just 4.6%. For branded hotels, RevPAR is preferred by 42.4% of hoteliers while occupancy (28.3% in rural, coastal and beach hotels) is the prominent metric for independent regional hotels.We are joined by Michael McCartan, IDeaS, Area VP EMEA, Raimund Notz, Director, Hotel Revenue Optimization - Central & Eastern Europe, Preferred Hotels and Dario Artiola, Senior Director Revenue Performance, Radisson Hotels Group to discuss:What is an integrated revenue management strategyRole of F&B and ancillaries in profit optimisationHow to have the right strategyFocusing the team on the right approachUsing technologyFor the full survey insights visit:Listen to more episodes of the hospitality industry podcast Travel Market Life and subscribe for the latest news at http://travelmarket.life/ Follow us on LinkedIn for more thought-provoking content: https://www.linkedin.com/company/travel-market-life/ Do you have a story to share about technology, digitalisation or culture changes within the hospitality and travel industry? We'd love to hear what your company is doing and the impact it is having. Please contact us through http://travelmarket.life/