STAAH

MAY 28, 2024

With market dynamics constantly evolving, hotels must explore and innovate beyond traditional revenue streams. One highly effective strategy is to look beyond rooms to drive ancillary revenue. Diversify Revenue Streams: Relying solely on room revenue can be risky.

Ancillary Revenue 112

Ancillary Revenue Revenue Services Events 112

Lure Agency

MARCH 24, 2023

Daniel says, “You have some nice ancillary revenue opportunities, especially if you’re a property with a lot of programming. Whether it’s resort amenities or spas, or maybe you’ve got multiple dining outlets. I see it being more than just rooms and meeting room rentals.”

Hiring 116

Hiring Ancillary Revenue Hotels Business 116

Hotelogix

AUGUST 6, 2024

Optimizing ancillary revenue streams: To diversify your revenue sources, consider enhancing offerings in food and beverage, spa services, and event hosting. Strategic marketing and distribution: Optimize your presence across all distribution/sales channels. Run targeted marketing campaigns to attract high-value guests.

Revenue 52

Revenue Management Upsell Target Marketing 52

SiteMinder

AUGUST 1, 2024

Here’s what to include in your executive summary: Hotel concept: Briefly describe your hotel’s unique features, target market, and overall vision. Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain.

Business 95

Business Revenue Hotels Occupancy 95

Hotel Speak

JULY 19, 2024

It’s not just about rooms There are also ancillary revenue components for you to consider. A very large group may come with meeting space rental revenue, which is 100% pure profit. Balancing group and transient requires confident revenue management, targeted marketing, and managing risk.

Revenue 84

Revenue Management Revenue Management Average Daily Rate 84