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💰 In revenue management, hotels aim to sell each room every day at the best price, not just at low prices. Fixed costs, such as rent, insurance, and staff salaries, are constant, while variable costs, like toiletries and laundry, vary with occupancy. Example calculations: fixed costs of $1,000,000 divided by 100 rooms and 365 days yield a daily fixed unit cost of $27 per room. Variable costs of $500,000 produce a variable unit cost of $14 per room per day. Revenue management balances fixed and variable costs (CostPAR) with revenue (RevPAR) to determine pricing. For instance, CostPAR of $41 and a RevPAR that exceeds it indicate profitability. Seasonal and demand variations impact pricing strategies; selling above variable costs, even by $1 or $2, covers some fixed costs during low-demand periods. Online reputation, influenced by guest reviews, affects visibility, bookings, and the potential to charge higher rates. A hotel with a well-managed revenue system and strong online presence can outperform competitors and maximize profits.

💻 Palette Hotels is deploying the Quore workflow management solution across all 25 of its properties, aiming to enhance engineering, housekeeping, front desk, management, and above property tools. This cloud-based, mobile-ready, multilingual solution will streamline operations and improve guest experiences. Palette Hotels, operating brands like Marriott, IHG, Hilton, Hyatt, Choice Hotels, Wyndham Hotels & Resorts, and Best Western, expects a quick return on investment by eliminating manual processes and utilizing Quore's dashboard for key insights into hotel performance. The deployment is supported by Quore’s team, including Account Manager Jonathan Ferlez, and aims to improve internal communications and decision-making.