This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.
Daniel says, “You have some nice ancillaryrevenue opportunities, especially if you’re a property with a lot of programming. ” By offering them an experience that combines accommodations, food & beverage, video conferencing, entertainment, and more – hotels can create a package that will help generate revenue.
Understand the evolving nature of lodging demand and intentionally drive ancillaryrevenue to optimize profit. A few examples of this include using energy-efficient lightbulbs, cross-training associates, optimizing labor scheduling, locally sourcing ingredients for menu items and optional daily housekeeping.
The vibe in the global community is cautiously optimistic, as the intent to travel by consumers worldwide is undeniable. Some of the focuses are automation and creating new opportunities for increased pricing power, more ancillaryrevenue uptake for hotels and an creating even stronger guest experience.
Marc Saunders, director of marketing at Splendid Hospitality, also believes there is opportunity to drive revenue by activating hotel spaces with retail partnerships. 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
Not only do lackluster experiences fail to drive revenue but who tells others about their stay if it was anything less than spectacular. . Don´t forget to look beyond the obvious such as your ´branded’ keywords, but really consider the search intent of potential customers. . Ways to Personalize.
Platforms like Google Ads, Microsoft Ads, and Bing Ads offer advanced targeting options based on search intent, location, and demographic data, making them essential tools for driving booking conversions. By aligning these tactics, hotels can drive high-quality traffic, increase direct bookings, and achieve sustainable revenue growth.
A need to drive revenue The ongoing pandemic recovery and global macroeconomic uncertainty this year (2023) have put an increased focus on driving revenue growth. But as revenue management technology and other pieces of a hotel’s commercial stack have become more effective, owners have increasingly turned to it for driving results.
I was asked this question recently in a meeting: So what is exactly the difference between Revenue Management and Yield Management? Article Summary Yield Management Revenue Management Whats the Big Deal? This is the classic definition we all learned, the sacred mantra of hoteliers and revenue managers. My “Aha!”
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content