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For example, Cloudbeds Intelligence analyzes billions of future-looking data points, including competitor rates, events, holidays, and search information, combined with a property’s own data to understand how every combination impacts profit. Why it’s important for hotels? Why it’s important for hotels?
Pricing optimisation: Setting the right prices to maximise revenue while maintaining occupancy. Want to read more about the basics of revenue management? And, what happens when an unforeseen event happens (think Covid-19)? Turn it into a coworking space, a self-service kiosk, an event roomyou name it.
Judi: We budget for ancillaryrevenue to be 40% of overall revenue, and I only see that growing as we continue to develop our guest experience. However, its been hard in the last 18 months, to achieve the same levels of occupancy, the same room rates, as we were prior.
âLong form editorial content is the perfect match for a relaxed, affluent traveler looking to enhance their day with in-depth coverage of current events, or to spend quality time indulging their passions, be it art, architecture, business, or any of the many special interest magazines offered by ZINIO. waking hours in the hotel room.
This collaboration enables hotels using Infor HMS to drive incremental revenue and elevate guest personalization by seamlessly integrating Plusgradeâs proven upsell technology into the core guest journey. âTogether, weâre bringing ancillaryrevenue into the digital core of hotel operations â where it belongs.
Geopolitical and economic events will no doubt continue to impact the hotel booking landscape, but the rise of the experience economy makes one thing clear: consumer demand for travel isn’t gone, it’s just changing. Torres adds that relying too heavily on room revenue, particularly when occupancy is moderate, limits a hotel’s potential. “If
What Are Revenue Management Tools? Revenue management tools are software and systems that help hotels optimize pricing, control cost , maximize occupancy, and increase profitability. It monitors guest reservations, room occupancy, and overall performance metrics. And not just from your hotel rooms?
Stay Package Entitlement New Dynamic ) , a technology breakthrough that increases ancillaryrevenue and guest personalization by simplifying how hotels sell and fulfill packages. âBut without clear operational oversight, hotels risk lost revenue, inefficiencies, and guest dissatisfaction. Agilysys Book with S.P.E.N.D.
Group Itinerary Builder â Designed to enhance group travel and events, this module allows attendees to explore resort experiences and manage their event schedules through an interactive, personalized guest portal. Lets Guests Reserve Package Entitlements With Zero Staff Involvement Agilysys Inc. Agilysys Book with S.P.E.N.D.
Skip to main content Subscribe Subscribe Restaurants Hotels RTN Research & Reports Events CX Point of Sale More Operations Data & Analytics News Briefs The Point Webinars HT Advisory Boards Advertise Contact Us Call for Speakers form News Briefs Most recent 6/16/2025 SynXis Concierge.AI Agilysys Book with S.P.E.N.D.
These devices use advanced sensors and AI to monitor temperature, humidity, air quality, light, barometric pressure, and occupancy â including pets or sleeping guests. âBut without clear operational oversight, hotels risk lost revenue, inefficiencies, and guest dissatisfaction. announced the launch of Agilysys Book with S.P.E.N.D.
Energy & Guest Room Management- Advanced smart devices such as thermostats, lighting and occupancy sensors ensure that hoteliers can automatically minimize utility costs while maintaining a welcoming guestroom environment that can be seamlessly personalized to individual preferences.
Stay Package Entitlement New Dynamic ) , a technology breakthrough that increases ancillaryrevenue and guest personalization by simplifying how hotels sell and fulfill packages. Lets Guests Reserve Package Entitlements With Zero Staff Involvement Agilysys Inc. announced the launch of Agilysys Book with S.P.E.N.D.
When AV systems are down or underutilized, itâs not just an operational failure â itâs a revenue and reputation risk.â AVaStar is changing that conversation. Pop-up and add-on rentals are captured and tracked, increasing ancillaryrevenue without adding headcount. It means optimizing across transient, group, and events.
To meet with Sojern during the event, book a meeting. Based on insights from 44,000 hotels and 35 million short-term rental properties, Demand360 provides a 12-month, forward-looking view of a hotelâs occupancy and its market ranking as well as two years of retrospective data.
Based on insights from 44,000 hotels and 35 million short-term rental properties, Demand360 provides a 12-month, forward-looking view of a hotelâs occupancy and its market ranking as well as two years of retrospective data. To meet with Sojern during the event, book a meeting.
There is no set formula to increase a hotel’s revenue, it can be achieved by creating a good promotion plan, tapping into sources of ancillaryrevenue , upselling and other marketing strategies. Optimise ancillaryrevenue. Dynamic pricing is a modern hotelier’s most effective strategy for revenue management.
Ideal for business travelers, families or couples, the hotel boasts premier views and private balconies from many rooms, two full-service meeting and events venues, and a warm ambience that makes guests feel relaxed and welcome.
Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain. online advertising, social media, email marketing, partnerships, events) Marketing messages: What key messages will you communicate to your target audience? Revenue and pricing Now we’re onto the good bit!
Forecasting is the process of making predictions about future events or conditions based on the analysis of past and present data. By analyzing these elements, hoteliers can more accurately estimate how much revenue they will book in the future. These trends can impact room rates, ancillaryrevenue, and overall occupancy patterns.
Collaboration with other departments The Future: Total Revenue Management What is Revenue Management? For example, highlight amenities (bar, restaurant, spa, pool), and leverage packages (romantic, weekend, spa offer), to both expose why bookers should stay at your hotel, and generate ancillaryrevenue by promoting those offerings.
Connect additional channels If you find on some days or weeks your occupancy is lower than you’d like, and not enough revenue is coming in as a result, you may not be reaching a big enough audience. Adding this extra value to guests not only brings in revenue but also provides a better traveller experience.
While revenue management is more focused on a hotel’s pricing and availability to maximize revenue, revenue optimization takes a broader approach to include a full range of revenue sources that includes food and beverage, spa services, events, classes, and other ancillaryrevenues.
Imagine, you’re the revenue manager of a 300-room property, and one week out from the arrival date you have only 30% on the books. especially if your comp set is trending ahead on occupancy on the books. All your competitors are now doing 95% occupancy with a good balance of transient and group. Sounds good, right?
Let´s explore the following topics & trends that are shaping the (current) hotel industry landscape: Can’t Forget the Basics What are the trends in revenue management in 2024 Distribution: Fishing Where the Fish Are Outsourcing To AI or Not to AI? Want to read more about the basics of revenue management?
Let´s explore the following topics & trends that are shaping the (current) hotel industry landscape: Can’t Forget the Basics What are the trends in revenue management in 2024 Distribution: Fishing Where the Fish Are Outsourcing To AI or Not to AI? Want to read more about the basics of revenue management?
Optimizing ancillaryrevenue streams: To diversify your revenue sources, consider enhancing offerings in food and beverage, spa services, and event hosting. Utilizing guest data to personalize offers can lead to higher uptake of ancillary services. It helps in driving sales, leading to enhanced profit.
Lower your operating costs effortlessly with smart hotel technology Use SiteMinder’s platform to easily boost occupancy, maximise revenue, and create efficiencies for your business. The result will be influenced by a number of factors, including your: Occupancy rate: Higher occupancy rates generally lead to lower CPOR.
In a nutshell, yield management means adjusting your room rates in real-time based on demand , seasonality, events, and even the day of the week. What events drive demand in your area? As a result, their occupancy increased by 20% during the shoulder season, and their overall revenue grew by 15%. Sounds simple, right?
Conversion Metrics: Is your website driving bookings, leads, quotes, and/or other success events? Few competitors in the area Inexpensive drive or fly market Press coverage Loyalty program creation Local partnerships Area events Threats What threats exist that might compromise your bottom line?
increase in occupancy. ” As for the remainder of the year, Bojanowski is seeing a slowing of year-over-year growth in occupancy, primarily driven by a flattening of leisure transient demand and continued slow growth in business transient demand. ” Meliker expects RevPAR growth to end the year up 1.8%, driven by a 2.6%
In a nutshell, yield management means adjusting your room rates in real-time based on demand , seasonality, events, and even the day of the week. What events drive demand in your area? As a result, their occupancy increased by 20% during the shoulder season, and their overall revenue grew by 15%. Sounds simple, right?
In a nutshell, yield management means adjusting your room rates in real-time based on demand , seasonality, events, and even the day of the week. What events drive demand in your area? As a result, their occupancy increased by 20% during the shoulder season, and their overall revenue grew by 15%. Sounds simple, right?
Collaboration with other departments The Future: Total Revenue Management What is Revenue Management? For example, highlight amenities (bar, restaurant, spa, pool), and leverage packages (romantic, weekend, spa offer), to both expose why bookers should stay at your hotel, and generate ancillaryrevenue by promoting those offerings.
A recent Knight Frank report supports this idea, revealing that ancillaryrevenues have increased in 2022 with the contribution to total revenue rising by 1.5 Similar technology is already being used by platforms such as Cvent , which provides 3D programming tools for planners to design events in real time.
Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? This dynamic demand necessitates adaptive revenue management practices. Hotels may adjust prices regularly based on these insights to optimize revenue.
Real-time insights : Smart systems provide instant data on everything from occupancy rates to energy consumption, allowing for quick, informed decision-making. Occupancy sensors : Save energy and plan housekeeping better. Predictive analytics to optimize occupancy Booking pace analysis : Spot trends to adjust marketing and pricing.
Here are a few examples: Better loyalty programs: by tracking guest activity and preferences, hotels can offer personalised rewards such as discounts, free room upgrades, or access to exclusive events. This approach can lead to the creation of fresh revenue streams, heightened competitiveness, and a renewed brand appeal.
We’re not just looking at past occupancy rates, but can bring in customer segments and property types and weather and plane schedules – a wide range of external or causal factors. Layer in merchandising programs, other revenue streams, and unexpected events, and that volume and complexity increase exponentially.
And understanding it isn’t just about sounding smart at industry events (though thats a nice bonus), its about unlocking the true potential of your hotel property. I lived and breathed Average Daily Rate (ADR) and Occupancy. This is the classic definition we all learned, the sacred mantra of hoteliers and revenue managers.
Rising room rates drive greater focus on ancillaryrevenue Inflation and rising costs are squeezing room rate profitability, making ancillaryrevenue more essential than ever. This requires a fresh approach to how spaces are utilized.
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