How to optimize total casino resort profitability

by Eric Stoessel, VP of Marketing |

The casino industry is evolving at a breakneck pace. Not long ago, Las Vegas and Atlantic City were the only major players—with a few riverboats scattered in between. International gaming destinations were scarce. Today, gaming is available within a short driving distance to almost all regions of the U.S. and prevalent in many countries worldwide.

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Revenue Management Glossary: From ADR to yield, and everything in between

by Eric Stoessel, VP of Marketing |

We often talk about a more comprehensive revenue strategy, but before you can get there, you need to understand effective revenue management, which encompasses segmenting, forecasting and pricing. Here is a glossary of terms to get you started, and if you’re looking for even more, register and download this white paper, “A Beginner’s Guide to Revenue Management.”

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A Real GameChanger for El Cortez

by Marco Benvenuti, Chief Marketing and Strategy Officer and Co-Founder |

Look, I know we’ve got to do the marketing and promotion work that everyone else does. No matter how good any product is you’ve got to sell it. I understand that, but I also know I never believed that stuff when I was on the other side of the desk and software vendors were trying to sell me something. Of course their marketing materials, case studies and pitches were going to include the most favorable numbers to make their products look like the greatest inventions in the world. Isn’t there some expressions about lies, damned lies and statistics?

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From Revenue Management to Revenue Strategy

by Patrick Bosworth, co-founder and CEO |

It’s taken a long time to get revenue management into the lexicon of the hotel industry, but now that we’re finally there, let’s talk about redefining it. Revenue management—yield management, price optimization or however it’s described from company to company—will always be a critical function at every hotel, and it’s great the majority of the industry recognizes this. But revenue management has come to be defined by managing rates, which isn’t exactly what Robert Cross first imagined in 1997 when he called for a marketing renaissance in his book, “Revenue Management: Hard-Core Tactics for Market Domination.”

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Good RM starts with segmentation

by Mark Brandau, Director of Content |
Earlier this year, Marco detailed why fixed-tier or BAR pricing is a revenue management mistake. The point of his Time to Lower the Bar for Good post was that dynamic pricing and yielding segments individually is the best way to optimize revenue, and pricing each segment as a percent off the best available rate (BAR) is the fastest way to lose money. He has since written about the importance of forecasting and how many hotels mistake inventory management for revenue management. Read More

Get real about your forecast error

by Marco Benvenuti, Chief Marketing and Strategy Officer and Co-Founder |
Too many people in the hotel industry who purport to be revenue management experts don’t understand what forecasting error is or how to accurately calculate it. Or if they do, they’re ignoring it. That’s the only conclusion I can come to when I read about people expecting or getting an unconstrained demand forecast on average 98% right six months out. That’s practically impossible. Read More