Revenue Managers and Marketing Directors understandably are keenly focused on the top-line impacts of revenue decisions - including pricing. Owners and most General Managers are more attentive to figures further down the P&L statement including Gross Operating Profit (GOP) and Net Operating Income (NOI), since performance at this level is most often directly tied to the value of their hospitality asset.
Fortunately, a simple pricing formula has been created that will help clarify the risks associated with a given pricing decision on GOP - before that pricing decision is implemented. While tolerance for risk varies from one individual to the next and from one corporate culture to the next, at least all parties involved may now have a common starting point from which smart pricing decisions can be made.
By Jean Francois Mourier
Today, hoteliers know that it is imperative to have a booking engine in your property's corporate website; if you don't, your property would be losing out on bookings, and relying solely on the (costly) OTAs to gain bookings through the online channel.
But now there is a new update to a property's booking engine that all hotels MUST have, or else they are losing out on valuable online revenue and falling behind the competition: a mobile-compatible booking engine.