Blog categorized as Product

Occupancy Rates: Not One Size Fits All

By Rikki Cavanagh

        The three main KPIs for hotels are Average Daily Rate, Occupancy, and Revenue per Available Room. We talk about these until we are blue in the face. It’s typically assumed that everyone wants all three of these KPIs to be as high as possible. However, depen...

10.15.2024 01:15 PM - Comment(s)

7 Revenue Management Tropes

By Rikki Cavanagh

            My first hotel job after graduating university was as a sales manager at an independent property. I worked on the tour & travel market as well as the SMERF market. After my contract had ended in that role, I moved on to work as a...

10.10.2024 01:46 PM - Comment(s)

Non-refundable or flexible? A look at Cancellation Policies

By Adeline

When was the last time you booked a hotel room? Did you book a flexible rate or a non-refundable? When was the last time you canceled a hotel reservation? How much notice did you give? Were you able to get refunded? 

As a hotelier, there are a number of reasons why a non-refundable rate would be...

09.11.2024 04:51 PM - Comment(s)

Why should your hotel budget for an RMS for 2025?

By Rikki Cavanagh

        Each year during budget season hoteliers try to predict what the future holds and anticipate what expenses they will incur to hit revenue and profit targets. With so much uncertainty, there is one thing that you can count on: an RMS is a strategic investmen...

08.28.2024 10:24 AM - Comment(s)

Changing PMS? Here is how Rate Yield can help!

By Rikki Cavanagh

Changing Property Management Systems is a large undertaking for any hotel. It requires cooperation from different stakeholders internally and externally and if something isn’t done correctly it can have a huge impact on the bottom line.

With the shift from server-based softwares to cloud-based softwa...

08.12.2024 04:43 PM - Comment(s)

Keeping Up With The Competition

By Rikki Cavanagh

        The way we manage competitive sets is probably my favorite part about Rate Yield and my favorite topic of conversation as a business development professional. In all aspects of business, defining and understanding your competition is of utmost priority. In ...

08.07.2024 01:06 PM - Comment(s)

Revenue Management for Special Events

By Rikki Cavanagh

Special events come in all shapes and sizes. Whether it is an annual event that takes place in the same city, one that moves to different cities and dates, one that spans several nights or one that has multiple recurrences in a short time period, Revenue Managers around the world are working to maxi...

07.24.2024 12:10 PM - Comment(s)

Rate Yield Philosophy: Making AI Accessible

By Rikki Cavanagh

Rate Yield’s purpose and philosophy is to make AI accessible to hotels of all sizes. This is something we strive to achieve in every aspect of our company. Today, we want to share with you how we embody this philosophy.


Algorithm:

The definition of Artificial Intelligence is to teach a robot to do hum...

06.28.2024 01:03 PM - Comment(s)

A Tale of Two Fires: Comparing the Impact of the Tubbs and Camp Fires on Hotels

By Rikki Cavanagh

In California in 2017 and 2018, two of the most destructive wildfires in state history occurred. The Tubbs fire hit California Wine Country, taking its toll on the popular tourist destination which boasts high rates and occupancy. The Camp Fire, best known for the destruction of Paradise, was contai...

06.26.2024 09:52 AM - Comment(s)

Rate Yield Clients in Quebec City Demonstrate ROI

By Rikki Cavanagh

            With our headquarters in Montreal and a strong presence across the province, we are proud to work with several hotels in the provincial capital of Quebec City. The historical city is popular with tourists and locals, offering a range of hotel ...

06.20.2024 03:00 PM - Comment(s)