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
This scalability is especially valuable for hotels – as more information is collected about guest behavior, booking trends , and occupancy patterns the more precise rate adjustments, inventory management, and marketingstrategies will be in the future.
A question on every hotelier's mind: how to generate more revenue in a hotel. While there's no tried and tested solution, it can be achieved by creating a good promotion plan, tapping into sources of ancillaryrevenue, upselling, and other marketingstrategies.
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 marketingstrategies. Here are 10 strategies: 1. Optimise ancillaryrevenue.
Optimizing ancillaryrevenue streams: To diversify your revenue sources, consider enhancing offerings in food and beverage, spa services, and event hosting. Targeted marketing campaigns: Run campaigns during off-peak periods to boost occupancy. Use segmentation to target different guest demographics with tailored offers.
Other tools such as push messaging and food and beverage integration give properties the power to significantly increase their ancillaryrevenue. Traditional Campaigns Traditional media and direct mail still play an important role in the marketing mix.
How have you adapted your sales and marketingstrategy to attract these new segments? . Where are your target markets researching and booking their travel? Day-use services and memberships provide additional ancillaryrevenue streams especially important given the decline in business travel.
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. Revenue and pricing Now we’re onto the good bit!
Beyond the Room: AncillaryRevenue Stream Last but not least, let’s dive into a side of hotel revenue that often gets overlooked but can be a serious game-changer for your bottom line: ancillaryrevenue streams. Use this data to refine your marketingstrategies and make data-driven decisions.
CPOR can be influenced by a number of factors and can often be a representation of how effective your revenue management and marketingstrategies are. Boost revenue per guest: Offer enticing upsell and package offers to convince each individual guest to spend a little more. What are variable costs per occupied room?
RevenueStrategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? Market Segmentation: The hotel market is intricately segmented, accommodating diverse customer groups, including groups and promotional segments.
Beyond the Room: AncillaryRevenue Stream Last but not least, let’s dive into a side of hotel revenue that often gets overlooked but can be a serious game-changer for your bottom line: ancillaryrevenue streams. Use this data to refine your marketingstrategies and make data-driven decisions.
Beyond the Room: AncillaryRevenue Stream Last but not least, let’s dive into a side of hotel revenue that often gets overlooked but can be a serious game-changer for your bottom line: ancillaryrevenue streams. Use this data to refine your marketingstrategies and make data-driven decisions.
Upselling Emails: Post-booking offers, including room upgrades, breakfast packages, or all-inclusive deals, are an excellent way to boost ancillaryrevenue. Social Media Ads: Facebook, Instagram, and LinkedIn Paid social media advertising is a critical component of any modern hotel marketingstrategy.
Collaborations with influencers who align with the brand’s values bring authenticity and reach to marketing efforts, providing potential guests with real, relatable insights into the hotel experience. The approach of dynamic pricing ensures that pricing aligns with market dynamics, maximising revenue potential.
Reinvent your MarketingStrategy Hotels can reinvent their marketingstrategy by adopting a data-first approach and building sophisticated tools to make better-informed decisions.
With the recent proliferation of new travel super apps, distribution Goliaths such as Google and Expedia updating their ranking algorithms at a frantic pace, and the seemingly unstoppable growth of metasearch engine traffic, building and executing an effective hotel marketingstrategy can seem intimidating. Bunk Hotel Amsterdam.
Ancillary Services: Parking, laundry, minibar every single little revenue stream counts! learn more about how to optimise your AncillaryRevenue ). Revenue management is strategic. Its about leveraging data from all departments to make informed decisions that drive the highest possible total revenue and profit.
In this article, we interview Pablo Torres, a hospitality management expert specializing in revenue optimization and guest experience. With over 20 years in the industry, Pablo develops innovative strategies that drive ancillaryrevenue and operational efficiency.
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