Riôtel Percé, an 80-room hotel & suites located by the sea in Gaspésie has been using Rate Yield for revenue optimization since 2020. This seasonal property is open from May to October each year with the peak months being July and August when occupancy rates are above 90%.
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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...
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...
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...
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...
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...
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 ...
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...
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...
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...
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