Skip to content

Search

Latest Stories

Survey: Revenue management technology improves hotel performance

The study spotlights hotel investor attitudes and tech opportunities

Survey: Revenue management technology improves hotel performance

HOTELS CAN ENHANCE profitability through greater reliance on revenue management technology tactics, according to IDeaS, a revenue management service provider. The survey examines how investors view revenue technologies, the role of artificial intelligence in hospitality, and how technology is reshaping hospitality commercial organizations.

According to the survey, “Unlocking hotel performance: The power of revenue management technology today,’” inflation and economic pressures may lead hoteliers to consider cost-cutting measures to boost profitability. However, a majority of respondents view revenue management technology as the most effective and efficient way to enhance net operating income.


"For investors, revenue management technology is shifting from a competitive edge to an essential instrument for maintaining competitiveness and securing a solid bottom line," said Mike Chuma, vice president of global marketing, IDeaS.

The survey found that 83 percent of respondents described the ROI for revenue management technology as either "high" or "very high," indicating a strong satisfaction level among hoteliers with their software investments.

"The recent turbulent times and rapid pace of AI advancement are reshaping revenue technology, elevating it from an optional tool to an essential for success," the report said. "71 percent of surveyed investors indicated that revenue management technology's importance has grown in the past three years."

The study examined data from a 2023 Benchmark Research Partners survey of hotel ownership and investment firms, which included approximately 1,500 independent and chain properties worldwide.

Recently, Unifocus published a white paper titled "The Hotelier's Definitive Guide to Navigating Staffing Shortages," providing strategies for cost management, staffing optimization, and turnover reduction to establish a sustainable and reliable operational framework.

More for you

CBRE: US Hotel RevPAR to Grow 1.3 Percent in 2025

CBRE: RevPAR to grow 1.3 percent in 2025

U.S. HOTEL REVPAR is expected to grow 1.3 percent in 2025, supported by urban markets from group and business travel and increased demand for drive-to and regional leisure destinations, according to CBRE. Occupancy is forecast to rise 14 basis points and ADR 1.2 percent year-over-year.

This represents slower growth than CBRE’s February forecast, which projected 2 percent RevPAR growth based on a 21-basis-point increase in occupancy and a 1.6 percent rise in ADR, the commercial real estate and investment firm said.

Keep ReadingShow less
Palette Hotels to Transform DoubleTree by Hilton in Washington, PA

Palette to manage Washington, PA, DoubleTree

Palette’s Expertise in Hospitality Management

SUNRISE GOLD HOSPITALITY recently selected Palette Hotels to manage its 140-room DoubleTree by Hilton Washington Meadow Lands Casino Area in Washington, Pennsylvania. Palette will oversee renovations, including Hilton Connected Rooms technology upgrades, new signage, landscaping, building systems and updates to the lobby, guestrooms, bathrooms, meeting spaces, restaurant, bar and lounge.

Sunrise Gold Hospitality is led by owner Ramesh Pandya, and Palette Hotels by Founder and CEO Richard Lou.

Keep ReadingShow less