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A hotel jam-packed with people isn’t always a profitable hotel. Hotels employ various revenue management techniques and strategies aimed at increasing the bottom line. Compared to airlines, revenue management in hotels evolves slowly. What is hotel revenue management? Dynamic pricing strategies for hotels.
In the hospitality industry, choosing the right metrics and carefully tracking them can help you as the hotelier or hotel manager to understand how your hotel is performing, compare it with your competitors, and possibly find the weak points and opportunities for improvement. Occupancy rate, ADR, and ALOS: basic operational metrics.
Net Promoter Score (NPS): Net Promoter Score measures customer loyalty and satisfaction based on the likelihood of customers recommending a company to others. It includes KPIs such as gross profit margin, net profit margin, return on investment (ROI), and financial ratios.
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