Resort Income Optimization
Resort Income Optimization
Drive more revenue in all your digital channels. Whether you are a 10 room boutique resort or a 100 room independent hotel, you need to drive revenue through digital channels. Since 1999, more than 50 hotels across the Americas and Caribbean have trusted RIO as their long-term partner to drive revenue via:
- Online Travel Agencies (OTAs) and other third party channels
- Direct Bookings on your website with Booking Engine technology
The variety of websites and technologies can be mind-boggling and lead to weak revenue and business problems, even with the best managed properties. Our sole focus is driving reservations and revenue in the most effective ways. Improving content and pricing strategies, while keeping inventory accurate across all channels is our expertise. Our pay-for-performance business model ensures that you get what you pay for. You pay for the revenue we generate for your resort.
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Coming here to consider an industry career change in finance/accounting. Has AI replaced this process yet? It seems like there is software that can handle this? Thoughts?
We will be launching a lot of new content at www.aiforhotels.com ... AI will do this process, and assist in this process (and has been for years), but will not "replace" this process. someone using AI will handle many more hotels than now... Below are a few more thoughts about "Off the shelf" software (not custom software) - there has been traditional software for Revenue/Yield Management for many years. Many are not that great... lots of features that sell the software, but have little value to hotels (especially smaller hotels)... many are just a little better than nothing :-) - most revenue management software companies have integrated machine learning and AI in their software for years, but in small amounts and not very effective IMO. But now of course they all claim they have AI built in. - What I think will happen in the future is that AI tools will replace many of the software vendors, especially in smaller hotels that could not afford traditional RMS. AI has more capabilities, more versatile, and can be programmed and customized more easily. And I believe these solutions will be cheaper. ----- It's the same old saying here: A job will not be replaced by AI, but it will be replaced by someone who knows how to use AI to do that job.
Easy to understand and very informative. Thank you
Glad it was helpful!
they course doesn't shoe up when I sign up. I only see a 5 min video on Google adds and that's it. can you please help.
Hi Parisa, It looks like you were getting some of the free course modules from an expired promotion . We have not sold that in a few years, but plan to relaunch it again soon, so you will get those updates via email. If you would still like to purchase the product now, the link is below, but I should tell you that you would be the only person in the course. If you still want to purchase the course, you can also contact us directly at our website. We could provide more private guidance in exchange for your feedback. I'm sure can work out an arrangement. www.resortincome.com/offers/EkLmqmaW
Hi there, I watched this videos and it was great, and i signed up to learn more with your free 25 module course but can't seem to find the modules; it's only the 5 min video on google adds ROI. Appreciate if you could direct me to your full course. Thanks so much!
The 25 module course is a paid course. What you saw for Google Ads was one of the free clips from the course. Several clips are available for free on our website and you can register here to view those: www.resortincome.com/membership-evg-optin I should also point out that some of our courses, including this one, are being updated and will be relaunched soon. But you can always register for the free content and we'll notify you when courses are updated.
This is great, but please don't use these generated video voices and stock videos
Can I get your Linkedin name
Hi Cynthia, It’s Rob Russell. Company is RIO Marketing (aka Resort Income Optimization)
I appreciate your presentation method,Can I have the spreadsheet example by Email please
We will be offering this soon. You can subscribe to our email newsletter or this channel to be the first to know. Thank you! Resortincome.com
Thank you 😍
Glad you found it helpful.
Thank you for the hints.
Any time!
Very good video.
Glad you liked it
Great webinar New to the Industry for Hotel Management
Glad you liked it. Let us know other topics you’d like to learn about.
Amazing video! Learnt a lot. Is it possible to extract the unsold rooms from the PMS automatically every day? Or you have to update it everyday? Would love to see the formula used in the sheets.
It depends on your PMS system, but most will create a report and send to an email address automatically. Data may require some manipulation to plug into the model. Some PMS have Rev Mgmt took that automatically imports, but of course that costs more money 😆
👍🏻
most welcome
Its rare to get this kind of content keep going
Thank you and glad you are getting value.
NICE VIDEO
Thanks
HI
Hi
NICE VIDEO
Thanks for the visit
hi
Do you have the link for the free expedia competitor rates?
you have to be logged into your Expedia Partner Central account. From there you can go to Revenue Management tab
How to choose suitable PMS for our portal as there are lots of PMS showing ?
Choosing a PMS depends on many different characteristics of your hotel and the way that you operate. This is the foundation of your software stack, which connects to all distribution channels and revenue management software.
What jobs can I apply for with a revenue management executive certification?
You can apply to be a revenue manager. In many hotels or ownership groups this is a full time job or even a team of people. In smaller hotels, the marketing manager, general manager, or owner may be responsible for this task.
Thank you very much for the video.
You are welcome! Good luck with your hotel!
Love it ...very useful ..keep doing
You’re welcome!
Than you for sharing this. You have provided a great structure for me to work on this problem, we are a new start up - yep - timing is everything...This in conjunction with your other videos and the fact that guest numbers are zero has enabled me to have time to work on the Operations Process and get everything formalised into an operating manual for the hotel. This is has really helped me understand the principles / enablers and future solution options to make the pricing so much more data enabled. Thus taking the "guesswork" out of the problem and having a robust solution with visual management (conditional formatting tools) to help highlight areas for rate change.
You are welcome! Feel free to reach out if you need any more help.
Resort Income Optimization , Your video provides a lot of information during this Covid.
You're welcome!
I am trying to login into your website but it's not responding
At our website you can contact us via email or telephone: www.ResortIncome.com Were you trying to get on a webinar ?
Great instruction and explanation. Thanks for sharing.
Glad it was helpful!
Good info Keep it up ✨😎👍
Will do. Thanks for the feedback !
Great stuff. Thank for your sharing this helpful information. The yield management spreadsheet sample is especially appreciated.
You're welcome!
Hi I registered but missed out on the webinar yesterday. Will the webinar be available on your website? Or will u be conducting one again soon?
Davy leisure Thanks for reaching out. Yes, the replay will be sent to everyone who registered. Let us know if you have any further questions.
Great job!! Where can i get that excel file?
Hi Flavio, Thanks for the compliment. The Excel template is part of our paid course, which you can find at www.resortincome.com/store Please let us know if you have any questions.
Thank u for this video. It was helpfull me as revenue person at hotel
You’re welcome. Glad it was useful. For more updates you can subscribe to this channel or our blog at www.resortincome.com/blog
Great video, Revenue Management is a really complex subject area but in practice you do a great job of showing hoteliers how they can take the first step. There's the science of data analytics and the art of decision making/reading the market. Ultimately it comes down to deeply understanding your product and market, then leveraging the right software to enable RMs to focus on more strategic decision making and creativity that beats out the compset. Here's a few easy steps for RMs who want to take the plunge: hoteltechreport.com/news/revenue-management-strategy-4-easy-steps
Thanks! Totally agree with your points as well.
Good try 'keep it up. I am a Revenue Manager
Indeed, it is very very important to replicate promos to all channels and of course do not forget your own booking engine. Great video. Thank you.
It works, we have activated it in many hotels
Very nice examples and structured session... tyty :)
Glad you liked it!
This is a good addition to the materials put out by Google.
Makes a lot of sense.
Sounds like a good channel for bookings.
Great video! Very helpful!!
You're welcome... subscribe to our channel to get our new videos
Great post! Very helpful info and valuable for my boutique hotel. Thanks you!
Thank you! Stay tuned for more and subscribe to our channel
Can you help me do this?
Excellent advice !
Great video. Very helpful advice for our hotel.
Please contact me. I need help on this topic.
This is very helpful. Thank you!
Great analogy... makes it much easier and entertaining to learn a complex topic... it all starts with the right perspective.
Precisely explained the way to maximize revenue and maintain the occupancy of the hotel for RM .
Thank you Muhammad. Glad to help!