SiteMinder

JULY 13, 2024

What is hotel revenue management? Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. What is the primary purpose of revenue management?

Revenue Management 98

Revenue Management Revenue Management OTA 98

SiteMinder

JUNE 12, 2024

What is Yield Management? Yield management is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. Think of it as the art behind the science of room supply and demand.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

Little Hotelier

NOVEMBER 6, 2023

What is hotel revenue optimisation? As a small, independent hotelier you may have heard the terms hotel revenue optimisation and hotel revenue management. So what is revenue optimisation? Do all that and you’ll optimise your revenue by making as much money as possible from a limited resource: your rooms.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

SiteMinder

JUNE 2, 2024

This is according to SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels. With the surge of arrivals of international fans, the average daily rate for stays during the UEFA Euro season has grown by 11% throughout Germany to €214 – compared to €192 in the previous year. “The

Average Daily Rate 59

Average Daily Rate Revenue Forecasting Hotels 59

SiteMinder

APRIL 18, 2024

London, UK : The average lead time for accommodation bookings has increased 13% year-on-year to 83 days for the coming London Marathon weekend, shows data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels. year-on-year.

Average Daily Rate 59

Average Daily Rate Revenue Management Accommodation Revenue 59

Hotelogix

APRIL 22, 2024

Importance of Analysing Hotel Data Hotel data encompasses various information, from guest bookings and preferences to revenue figures and occupancy rates.   Strategic revenue management with hotel data Effective revenue management is critical to your hotel's profitability. What is Hotel Data?

Management 52

Management Average Daily Rate Revenue Management Hotels 52

SiteMinder

OCTOBER 16, 2023

Pricing intelligence, also known as rate intelligence, is a way for hotels to optimise their pricing and profitability. It’s an essential part of a successful revenue management strategy and is implemented via the use of data and pricing intelligence tools. What is pricing intelligence?

Forecasting 59

Forecasting Revenue Management Revenue Hotels 59

Cloudbeds

JULY 4, 2024

Modern hotel management requires a robust set of tools and metrics to evaluate and continuously optimize revenue performance, especially in relation to competitors. Among these, the average rate index (ARI) is one of the lesser-known but extremely useful metrics to keep under check. What is the average rate index (ARI)?

Market Penetration 72

Market Penetration Management Market Share Occupancy 72

SiteMinder

SEPTEMBER 10, 2023

It serves as a financial blueprint, detailing various revenue streams such as room bookings, food and beverage sales, and ancillary services. This should include room occupancy rates, average daily rates (ADR), revenue per available room (RevPAR), and customer acquisition costs.

Revenue 59

Revenue Revenue Management Hotels Average Daily Rate 59

Cloudbeds

AUGUST 8, 2024

Whether you’re a revenue manager, accountant, front office manager, or hotel owner, you need real-time data and visualizations to understand what’s happening at any given time. With business intelligence, you have the knowledge to drive hotel operations, increase your revenue, and enhance your guest experience.

Business 40

Business Revenue Management Forecasting Revenue 40

SiteMinder

OCTOBER 9, 2023

These metrics encompass a wide range of areas, from financial figures like revenue per available room (RevPAR) and average daily rate (ADR) to operational aspects such as occupancy rates and guest satisfaction scores. It offers insights into room demand and helps in forecasting.

Average Daily Rate 59

Average Daily Rate Average Length of Stay Occupancy Revenue 59

Cloudbeds

MAY 8, 2024

Searching for demand patterns for your property is like traveling to the past and then going to the future to forecast how to set up your hotel for success. Instead of a time machine, you need data on your hotel’s booking performance from your property management system. And no, it’s not a “Back to the Future” movie scene.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

Cloudbeds

APRIL 30, 2024

A question that likely keeps you up at night is, ‘How can I boost revenue per available room (RevPAR) and outpace my competitors?’ It’s the bedrock of hotel revenue management , and for good reason. Prices change dynamically (hence the name) using real-time data to maximize your revenue and occupancy rates.

Revenue 52

Revenue Revenue Management Occupancy Hotels 52

SiteMinder

OCTOBER 10, 2023

What is hotel forecasting? Hotel forecasting is a method that is used to help managers determine their accommodation’s future demand and revenue performance. Whether you’re a seasoned hotelier or new to the industry, understanding the nuances of forecasting can be a game-changer for your business.

Forecasting 52

Forecasting Revenue Average Daily Rate Occupancy 52

Cloudbeds

JUNE 5, 2024

There used to be a time when hotel revenue managers simply had to look at predicted demand and keep an eye on competitors’ rates to optimize pricing. For revenue managers, that meant adding a new strategy (and a new skill) to their decision-making: reputation pricing. Watch video What is reputation pricing?

Revenue Management 52

Revenue Management Revenue Occupancy Average Daily Rate 52

SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. The average length of stay is 1.93

Occupancy 59

Occupancy Hotels Revenue Average Length of Stay 59

SiteMinder

OCTOBER 10, 2022

Falling short of your competitors when it comes to guest experience, accommodation standards or your marketing and advertising strategy can quickly lead to lost revenue. For example, STR data reveals that the average occupancy rate across US hotels in August 2022 was 66.5%, and the average daily rate was US$151.49.

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

SiteMinder

JUNE 8, 2022

As unpredictable as it can be at times (especially through the COVID-19 pandemic), forecasting is still an important part of running a hotel and being able to make strategic revenue management decisions. What is hotel revenue forecasting? Why should your hotel use forecasting? Your occupancy rate.

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

Cloudbeds

SEPTEMBER 18, 2024

From understanding top-performing channels to finding new revenue opportunities to enhance the guest experience, data analytics touches every department. This data can then be used to make changes to improve revenue management, occupancy, guest experience, and operational efficiency. Revenue management KPIs.

Operations 40

Operations Revenue Management Occupancy Revenue 40

Cloudbeds

MAY 31, 2023

By monitoring market pricing intelligence, hotels can stay apprised of opportunities to flex pricing power, increase ADR (average daily rate), and lower pricing to increase occupancy. Rate shopping helps answer the eternal question in hotel revenue management, “How much should we charge for our rooms?”

Shopping 52

Shopping Revenue Management Average Daily Rate Revenue 52

SiteMinder

AUGUST 1, 2024

Hoteliers use rate shopping to benchmark against other properties, optimise pricing decisions, and find opportunities to maximise revenue and profitability. This blog will give you a full overview of hotel rate shopping and rate shopper tools, which you can use to boost revenue success at your business.

Shopping 52

Shopping Revenue Average Daily Rate Revenue Management 52

SiteMinder

DECEMBER 7, 2023

Hotel rate management is the process of strategically pricing rooms to attract guests while also maximising revenue. This strategy is crucial for enhancing both occupancy rates and the average daily rate (ADR), directly influencing the hotel’s financial performance.

Management 59

Management Average Daily Rate Occupancy Revenue 59

Cloudbeds

MARCH 20, 2023

When done effectively, personalization can help hotels earn more bookings, higher average daily rates (ADR) , and better online reviews. It is a fundamental process of revenue management, but also brings benefits to marketing, operations, and the guest experience. Boost revenue and profitability.

Hotel Marketing 52

Hotel Marketing Market Marketing Average Daily Rate 52

Cloudbeds

OCTOBER 11, 2024

Today’s solutions are predominantly cloud-based and streamline tasks, including tracking revenues and expenses, generating and interpreting financial reports, managing vendor and employee payments, and processing guest invoices. Revenue management system. The same applies to revenue. POS system. What is USALI?

Forecasting 52

Forecasting Revenue Hotels Average Daily Rate 52

Cloudbeds

MARCH 23, 2023

Why eCommerce is important for lodging operators According to Statista , 69% of total revenue from the global travel and tourism market is booked online, representing approximately $475 billion in revenue in 2022 and forecasted to surpass $521 billion in 2023.

OTA 98

OTA Digital Marketing Marketing Market 98

SiteMinder

OCTOBER 10, 2023

Hotel data allows you to create price optimisation strategies that establish rates for specific room types as well as lengths of stay (LOS), ultimately improving the amount of revenue that is generated per booking at your hotel. In addition, you are able to sell more rooms through the channel management system.

Hotels 52

Hotels Management Upsell Travel 52