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Together with the staffing crisis that the industry is grappling with, one theme has dominated discussions over the last few months – what are hotels doing to service the post-Covid traveller? Remaining relevant to guests is key, and those that don’t are at risk of losing marketshare. Who is your customer? .
Collaboration with other departments The Future: Total Revenue Management What is Revenue Management? Without a solid revenue management strategy, a hotel will just get lost in the pile of other hotels – being unable to reach satisfactory visibility and level of business to remain open.
Understand the evolving nature of lodging demand and intentionally drive ancillaryrevenue to optimize profit. Capital expenditures should aim to protect marketshare and enhance property value. Global economic headwinds have had a limited negative impact on hospitality fundamentals across most major markets in 2022.
Optimizing ancillaryrevenue streams: To diversify your revenue sources, consider enhancing offerings in food and beverage, spa services, and event hosting. Increasing your Hotel's MarketShare Growing your marketshare requires strategic marketing and distribution efforts.
Trends in hotel forecasting The post-pandemic travel landscape has significantly impacted hotel revenue and occupancy forecasting, requiring hotels to adapt their strategies to new industry trends and consumer behaviors. These trends can impact room rates, ancillaryrevenue, and overall occupancy patterns.
Collaboration with other departments The Future: Total Revenue Management What is Revenue Management? Without a solid revenue management strategy, a hotel will just get lost in the pile of other hotels being unable to reach satisfactory visibility and level of business to remain open.
Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? What Does the Process of Revenue Management Look Like? The main distribution channels are: Groups: Private groups, Schools, event planners, travel planners, etc.
Increase room ADR, sell more hotel rooms direct, increase you marketshare, reduce channel spend on OTAsfamiliar? The next article will look into top ways to allocate your marketing budget in 2025. Plan your emails around engaging content, such as events, travel tips, or exclusive insightsnot just promotions.
Today’s traveler’s journey is more fragmented than ever. With a marketshare of over 90% , Google is, by far, the search engine to observe. Make sure to engage your guests with enticing content and encourage them to share their positive experiences. Looking to get more business travelers?
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