Revenue Managers: When Did You Last Stay At Your Hotel?

We asked three experienced revenue consultants from around the world to offer advice on how to boost hotel profitability.?

Trevor Stuart-Hill , Founder, Revenue Matters ; Stefan Wolf , Managing Director, Wolf Commercial Consulting ; and Jack Lindemuth, MS , Founder, JLL Commercial Strategy Consulting LLC gave us the full benefit of their years of experience for our latest blog: The Revenue Consultant’s View of Total Profitability Management .

• Trevor Stuart-Hill urges revenue managers to actually stay on property. Not for an MOD shift, but to actually experience the hotel as a guest. He advises you to look for ways to encourage spending across the property, and the only way to do this is to live the guest experience.?
• Stefan Wolf says that a key element of success is the establishment of that revenue management culture, which brings various departments (Finance, Operations, and Commercial) together to review the data and agree on a strategy together. He also recommends hotels look closer at their upselling strategy for an immediate RevPAR uplift.
• Jack Lindemuth advises the commercial and finance teams to work in unison, rather than operating in silos. He recommends both teams work together to (1) identify ways to increase topline revenues and (2) identify additional expenses associated with new revenue streams. Putting the two together will reap rewards.

Read the full blog here: https://www.duettocloud.com/library/the-revenue-consultants-view-of-total-profitability-management

Duetto In The News

We’ve felt like ‘media luvvies’ these past few weeks! And we’ll admit, it has been great!

Skift

Darren Koch gave the world his insights into generative AI in the latest report by Skift on this hot topic.?

This great article by Sean O'Neill explores how hotel companies believe AI will improve their skills in revenue management, with tech improvements bringing increased efficiency.

Koch explained how revenue tech improvements via AI will enable asset managers, hotel owners, and senior executives to better understand the value of their product. For example, by ingesting review data, your RMS may be able to indicate that rooms are getting tired and need renovation. Poor reviews are detrimental to revenue achieved.

See Hotel Experts Say AI Will Make Room Pricing More Profitable for more.

Lodging Magazine

Our latest Duetto Data report was picked up by several media outlets, including LODGING Magazine .?

Duetto data shows that room nights for this year are up 14%, ADR is up 9%, and rooms revenue is up 19% versus STLY.

Focusing on Q4 2023, Duetto data shows a promising year-end for hoteliers. Globally, room nights for Q4 2023 are up 20%, ADR is up 14%, and room revenue is up 23% versus STLY.?

Discover more in the story on Lodging - Duetto: Global Hotel Markets Report Positive Performance for 2023

HOTELS Magazine

Check out this insightful article from HOTELS magazine about how revenue managers optimize room rates, featuring Duetto's Chief Revenue Officer Chris Crowley .?

“The corporate window of Monday to Wednesday doesn’t exist anymore and this has changed the number of static rates in the market. Rates are much more dynamic as seasonality is less predictable," said Crowley.?

Read now. The Price is Right: How revenue managers optimize room rates - HOTELSMag.com

The Hotel Yearbook by Hospitality Net

When wondering why you should make tech investment a priority, ask yourself this, are your customers still carrying around a Nokia 3310 out of loyalty? Of course not! Because technology advances. Fast. And you have to keep up with it to make sure your hotel moves with the times.?

This is just one of the interesting points made in this article from Frank Pitsikalis , Vice President, Product Strategy, Hotels, Agilysys , and Chris Crowley , Chief Revenue Officer, Duetto , in The Hotel Yearbook by Hospitality Net . They discuss how the rest of this year and 2024 is set to see even more hotels adopting tech in order to push efficiency and to adapt to various revenue management trends.?

Check out the article here: Revenue Management Trends and ROE Takeaways to Watch

Travel Daily News

Travel Daily News Inc picked up the story of our successes in Italy. We’ve had the pleasure of welcoming some of the country’s most prestigious hotel brands to the Duetto family in the past year, including Baglioni Hotels & Resorts , Gruppo UNA , and Mangia's Resorts within the last 12 months.

Check out the story here: Duetto Expands Presence In Italy

Duetto Launches Revenue Drivers Educational Program

We launched our new Duetto Revenue Drivers program on July 17. Check out the new webpage and watch videos from our revenue experts providing their advice on how to get the most from your loyalty program, how to manage multi-currency revenue, and how to set up a room-type pricing strategy.?

Read more: https://www.duettocloud.com/library/duetto-launches-revenue-drivers-educational-program

?? Your opinion matters! ??

We highly value the thoughts and experiences of our cherished customers and partners like you. We invite you to share your opinion and leave us a review or a recommendation at HotelTechReport.com .

• If you are a Duetto customer, follow this link .
• If you are a Duetto partner, follow this link .

Please fill in using your work email, as the system deems personal email addresses as unfit.

Subscribe to our Email Newsletter

Subscribe to our bi-weekly newsletter and receive all the latest revenue strategy news, insights, and thought leadership direct to your inbox.

Subscribe here: https://www.duettocloud.com/sign-up-for-duetto-newsletter