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With remote work here to stay for many, corporate relocations surging, and travellers seeking more flexible accommodation arrangements, demand for stays lasting 30+ days is growing. For operators managing furnished apartments, aparthotels, or extended-stay inventory, this shift represents a significant revenue opportunity.
Some of your competitors made five times their usual revenue during the Coldplay concert simply by optimizing their pricing and room availability, while others failed to act and barely made a dent in their earnings. The question is, will you seize this opportunity, or will you watch another revenue surge pass you by?
Why Hotel Packages Work When travellers book accommodation, they’re often looking for more than just a bed. According to Expedia Group, packages often increase booking lead time, reduce cancellation rates, and boost total spend per guest by up to 30%. Looking to stand out in a crowded market and boost bookings?
While many hotels still rely on the traditional reservation playbook to handle a growing volume of inquiries, others are investing in automated customer service as a way to regain control, cut response times, and unlock new revenue streams. Ready to see how automation transforms your guest service and revenue?
The guest review score is a critical KPI for accommodation providers, influencing everything from OTA visibility to guest trust. Initially, reviews were just something you responded to, then we learned to take advantage of review insights for operations, and now they even have the potential to be a revenue management tool. It depends.
Sydney, Australia A new report by SiteMinder, the worlds leading hotel distribution and revenue platform, reveals that hotel websites outperformed all other booking sources in driving revenue per booking in 2024, by as much as 60%. The longest stays were in Portugal and the shortest stays were in Taiwan.
Include add-ons and upsells on your property’s website to increase revenue and allow guests to customize their stay with you. UPSELL PLAYBOOK Discover ways to increase revenue throughout the guest journey. Online payments Most travelers are comfortable making online payments, and for hotels, it’s a win-win.
By formally confirming each booking, independent hotels provide guests with clarity, build trust with their customers, and can reduce instances of no-shows, because guests know it is their responsibility to show up (or face late cancellation/no-show fees). Small hotels only have a few rooms and a handful of staff.
However, the perception is that it ultimately penalizes hotels and B&Bs that earn less revenue when the majority of their bookings come from larger distribution agents charging hefty commission rates. Rate parity pros It can boost your overall revenue by ensuring access to major OTA platforms. In small hotels, every dollar counts.
riding the Booking.com ranking reshuffle rodeo Images by GuestRevu The guest review score is a critical KPI for accommodation providers, influencing everything from OTA visibility to guest trust. Do stricter cancellation policies impact revenue? Amy summed it up: “Your reviews are your story. It depends.
Tryp.com is an online travel marketplace that bundles flights, accommodation and experiences into value-driven packages curated by AI. Because the platform curates packaged itineraries, cancellation volumes stay lower than on bargain-only flash-sale sites. Bundled bookings that lift revenue. What is Tryp.com?
Integrate your chosen hotel invoicing tool with SiteMinder Boasting 1350+ integrations, you can be confident that SiteMinder will seamlessly connect with the preferred systems or apps you use to manage revenue. The following generic accommodation invoice template could be used by any type of accommodation business.
This advanced integration enables direct connectivity between guest reservations and table bookings, allowing users to book, view, or cancel dining reservations directly within the Maestro Property Management System (PMS). Via this integration properties can efficiently manage reservations for accommodations and activities.
Real-Time communication that potentializes revenue growth Travelers demand immediate, accurate answers. This empowers hotels to: Tailor marketing campaigns with higher conversion potential Suggest relevant upgrades and packages based on traveler profiles Adjust pricing in real time to accommodate demand shifts 3.
This advanced integration enables direct connectivity between guest reservations and table bookings, allowing users to book, view, or cancel dining reservations directly within the Maestro Property Management System (PMS). Via this integration properties can efficiently manage reservations for accommodations and activities.
6/5/2025 One Bad Click Could Cost You the Booking Convivaâs 2025 State of Digital Experience Report highlights how widespread poor digital experiences are driving significant consumer frustration and revenue loss across industries. 55% abandon purchases, 50% switch brands, and 39% cancel subscriptions when confronted with digital issues.
This advanced integration enables direct connectivity between guest reservations and table bookings, allowing users to book, view, or cancel dining reservations directly within the Maestro Property Management System (PMS). Via this integration properties can efficiently manage reservations for accommodations and activities.
This advanced integration enables direct connectivity between guest reservations and table bookings, allowing users to book, view, or cancel dining reservations directly within the Maestro Property Management System (PMS). Via this integration properties can efficiently manage reservations for accommodations and activities.
6/5/2025 One Bad Click Could Cost You the Booking Convivaâs 2025 State of Digital Experience Report highlights how widespread poor digital experiences are driving significant consumer frustration and revenue loss across industries. 55% abandon purchases, 50% switch brands, and 39% cancel subscriptions when confronted with digital issues.
A AU$5 million recovery package aimed at driving visitation to Cairns and Far North Queensland in the wake of the devastating Tropical Cyclone Jasper and recent flooding has been welcomed by peak industry body Accommodation Australia.
World Tourism Day 2022: SiteMinder launches annual Changing Traveller Report, the largest accommodation-specific traveller survey globally. In the ‘new normal’ of travel, 80% of travellers say it is important to have the flexibility to easily modify or freely cancel their reservation.
What is the Booking.com cancellation policy? The Booking.com cancellation policy outlines the terms and conditions that apply when a guest cancels a reservation at your hotel. It includes specifics about refund procedures, penalties, and fees associated with cancellations.
Market insights provide numerous benefits for accommodation providers. Let’s look at some of the key advantages 1) Understanding guest search information: By gaining access to guests’ search information, hoteliers/accommodation providers can get a quick overview of what potential guests are looking for.
The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. By deploying this strategy a hotel is insuring itself against possible cancellations by having secured guests who can fill cancelled bookings. 2) Use multiple data sources. 2) Use multiple data sources.
The Hotel cancellation policy allows guests to cancel reservations up to a specified time before check-in. After this period is crossed, hotels may apply a cancellation fee, a percentage of the booking amount, or the entire booking cost. Why Should Hotels Have Clear Cancellation Policies?
What is a hotel cancellation policy? Hotel cancellation policies offer hotel guests the opportunity to cancel their booking up until a certain amount of days before check-in. Once this date has passed, the hotel might charge the guest a set cancellation fee, a percentage of the booking, or the full amount.
We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.
The bottom line is that hotels can lose millions of dollars in revenue due to abandonment, especially when you also consider that guests may book a room before delaying payment, and then cancelling altogether. Additional data shows that over 80% of travel bookings are abandoned, compared to the general average of around 70%.
What is hotel revenue management? Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. What is the primary purpose of revenue management? Revenue management is essential for any hotel today.
However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world. The question is, how can hoteliers implement effective pricing strategies to boost their revenue and stay ahead of the competition?
SiteMinder’s new Hotel Booking Trends report, a hotel commerce data analysis of more than 36,000 hotels and 450+ connected booking integrations, has revealed travelers booked their trips on average eight days earlier, and canceled their bookings 17% less year-on-year in 2022, despite a 24% increase in the average daily hotel room rate.
Here are 8 smart pricing strategies for hotels to boost revenue and drive more bookings during the holiday season The holiday season marks a period of increased travel, festive cheer, and heightened demand in the hospitality industry. This strategy not only secures bookings but also helps in revenue forecasting and inventory management.
Little Hotelier, the all-in-one hotel management software purpose-built to make the lives of small accommodation providers easier, has released its Italian Local Booking Insights report — four-year trend analysis of Italy’s small accommodation industry. Among Italian travellers, the demand for these accommodation types is higher still.
While for some hoteliers it’s best to avoid overbookings altogether, for others, a good strategy can increase revenue, improve the occupancy rate and mitigate losses. An overbooking strategy is when a property purposefully books its inventory beyond capacity in anticipation that a certain amount of guests will cancel or not show up.
It’s about enhancing the guest experience and boosting your revenue. Allow guests to easily modify or cancel their bookings online. Clearly display cancellation policies, terms and conditions, and privacy policies to build trust and transparency. A robust booking engine is about more than just accepting reservations.
Over a half of travellers who responded to a recent Expedia Group survey said they would not book non-refundable accommodation, even if it was discounted.* On Expedia Group sites, your property will show ‘Free Cancellation’ in traveller search results. We recommend a 100% refund for cancellations within a short. Read her story.
A hotel booking engine is a crucial tool for hotels and accommodation providers in today’s time. If you are a smart hotelier or any type of accommodation provider, you would not want to miss the chance of converting your website visitors from an OTA (or any other source) and bag the commission-free direct bookings.
This partnership marks a significant leap toward redefining the way properties elevate their visibility and revenue streams. This enhancement gives properties an invaluable opportunity to amplify their visibility, bookings, and revenue growth. HotelRunner has thousands of accommodation and travel agency partners globally.
They are a result of a delicate balance between maximizing revenue and providing guest satisfaction. While overbooking can lead to guest inconvenience and potential financial losses for the hotel, it is a revenue management strategy used to achieve high occupancy rates. Why Do Hotel Overbookings Happen?
Airbnb, the accommodation rental platform, also increased its marketing spend by 14.2% However, Airbnb’s marketing spend as a percentage of revenue (24%) has dipped slightly compared to the previous year. Expedia Group saw a steeper rise (14.2%) compared to Booking Holdings’ more moderate 6% increase year-over-year.
In this blog, we’ll break down the various hotel rate types, and how they can benefit your business and provide actionable strategies for you to maximize your revenue and occupancy. Non-Refundable Rates: Non-refundable rates are typically lower than standard rates but come with stricter cancellation policies. So, let’s dive in!
This commitment is a result of joining forces with The Neu Project, an initiative from Google’s Experience Institute (Xi) that aims to share resources designed to better accommodate and create a more inclusive experience during meetings and events for neurodivergent attendees. 28 through Dec.
Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. As they both contribute to the total equation of revenue being generated in the hotel.
Table of contents Introduction from SiteMinder: The bleisure market and hotel booking trends Following the pandemic, the bleisure market changed from a growing niche to a mainstream source of bookings for accommodation providers. The good news is that they don’t discriminate when it comes to choosing their accommodation.
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