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For years, the gold standard guiding business strategies for hotels has relied heavily on historical data, analyzed a few times a year (at best), making it difficult to swiftly respond to changing market conditions. For example, if occupancy suddenly drops, the platform sends an alert with a suggested offer and segment.
Solid occupancy isnt enough anymore. While occupancy is still a core metric, relying on it too heavily can leave your property management business vulnerable to seasonal swings, economic uncertainty, and a volatile demand environment. Why You Cant Rely on Occupancy Alone First, lets state the obvious: you dont control demand.
But a lot of hoteliers have gotten stuck in a loop of constantly slashing prices, offering direct channel discounts, OTA promotions, and special rate packages to drive occupancy. For example, targeting people looking for a local getaway during shoulder seasons or offering special deals to business travelers for repeat bookings.
The right sales tactics can help increase revenue, boost occupancy rates , and ensure guests have a positive experience. This blog outlines simple, actionable strategies that hotels of all sizes can use to grow their business, from direct bookings to pricing strategies and everything in between.
This is what hotel business intelligence software accomplishes. This guide will explore how hotel business intelligence operates, why it matters, and how it can boost your hotel management. Understanding Hotel Business Intelligence Hotels create vast amounts of data. Hotel business intelligence steps in to address this question.
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. Hotels face growing pressure to do more with lessâdelivering tailored guest experiences while improving margins.
Hotel Business has compiled a roundup of some of them. LG debuts Pro:Centric+ LG Electronics has introduced Pro:Centric+, the next generation of its Pro:Centric hotel TV platform that turns in-room displays into powerful business tools. Plusgrade brings a new level of sophistication to upselling.
According to Google, businesses make an average of $2 in revenue for every $1 they spend on Google Ads. Upselling opportunities : Offer add-ons and packages during the booking process to increase revenue. Time of year: Ads cost more during busy travel times. It lets you show ads on Google Search, YouTube, and other websites.
Hoteliers are realizing the importance of investing in this technology not only for business performance but to be able to meet high guest expectations now and in the future. By embracing these innovative solutions, hoteliers can gain a competitive edge, enhance their business strategies, and drive significant revenue growth.
This makes it particularly relevant for businesses like hotels (but also restaurants, casinos, or airlines), which often face high rent expenses. Business intelligence software To improve EBITDAR, teams can use business intelligence software to collaborate, identify opportunities to reduce costs, and find ways to increase revenue.
With offerings tailored for both leisure and business travellers including well-appointed rooms, conference facilities, swimming pools and authentic culinary experiencesSentrim is more than a hotel group. Its a gateway to memorable adventures across Kenya. Thats where STAAH came in.
Daily deals, upselling, promos and a number of other in-built capabilities allow Chokhi Dhani revenue managers to drive demand based dynamic pricing decisions. Their occupancy rate has increased by 20% with a supporting 25% lift in revenue. The booking engine was customised to fit Chokhi Dhani’s brand needs.
You can maximise occupancy and revenue without manual rate updates. 7) Drive More Revenue with Upsell Tools Why stop at the room? Integration with upsell tools allows you to offer guests added services like late check-outs, room upgrades, spa packages, or dining experiences at the right time, and through the right channel.
But is the booking system with google calendar the right choice for your hotel business ? On the other hand, other booking systems can be expensive and too complex, making them unfit for smaller businesses. But as your business grows, think about investing in a specialized system. Let’s find out.
Social Connect: Enables AI-powered guest engagement across popular social platforms including Facebook, Instagram, Messenger, and WhatsApp Business. Custom Connectivity for Every Tier The RUCKUS hospitality solutions work together seamlessly, allowing businesses to pick and choose the right combination for their specific needs.
Through a seamless data exchange from Cloudbeds to STR, users will be able to track trends in occupancy, average daily rate (ADR), revenue per available room (RevPAR), and other essential metrics directly within their STR dashboard, facilitating data-driven decision-making.
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. Business Intelligence & Reporting Dashboards How to handle all of that data of your hotel?
Custom Connectivity for Every Tier The RUCKUS hospitality solutions work together seamlessly, allowing businesses to pick and choose the right combination for their specific needs. LAN service providers are enabled to provide more customized solutions to their hospitality clients.
Whether its a seamless check-in process, personalized dining recommendations, or proactive problem-solving, customer satisfaction is at the heart of every hotel, resort, and travel business. Conversely, during low-occupancy periods, prices can be lowered to attract more bookings while still maintaining profitability.
Double bookings , incorrect charges, and missed upsell opportunities can result in revenue loss and negative guest reviews. By tracking occupancy trends, revenue forecasts, and guest preferences, hotels can fine-tune their marketing strategies and improve personalized guest experiences. Manual processes lead to costly errors.
Some of the most impactful integrations include: Booking engines PMSs CRMs Communication channels Upselling tools With these integrations in place, every traveler interactionwhether it’s an inquiry, booking, update, or follow-up is automatically synchronized across systems. How does hotel integration benefit operational efficiency?
Custom Connectivity for Every Tier The RUCKUS hospitality solutions work together seamlessly, allowing businesses to pick and choose the right combination for their specific needs. MJH is aligning its tech strategy and business ambition to build a better foundation for the future.
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.
These devices use advanced sensors and AI to monitor temperature, humidity, air quality, light, barometric pressure, and occupancy â including pets or sleeping guests. MJH is aligning its tech strategy and business ambition to build a better foundation for the future. Agilysys Book with S.P.E.N.D.
Custom Connectivity for Every Tier The RUCKUS hospitality solutions work together seamlessly, allowing businesses to pick and choose the right combination for their specific needs. LAN service providers are enabled to provide more customized solutions to their hospitality clients.
It gives you a clear picture of total guest value, and lets you better evaluate your upselling, cross-selling and guest engagement strategies. RevPAG is crucial for independent hotels because it reveals the broader picture of total guest value, rather than focusing on simpler metrics like occupancy or room rates.
More upsell opportunities : Digital check-in forms can include early check-in, room upgrades, or other add-ons, giving you extra revenue before the guest even arrives. This not only improves the guest experience but also helps keep occupancy at optimal levels by confirming arrivals in advance. Why it matters for hotels 1.
Lybra Assistant is ideal for all properties with more than 20 rooms, from independent hotels and branded groups, and those offering both leisure and business segments. During my time partnering with Chris, heâs demonstrated deep knowledge of our business, strong values and a clear commitment to our growth.
This is a common issue for many businesses in the hospitality industry. The Winning Plan for Your Hotel To bring in more guests, you need a complete strategy that looks at different parts of your business. Let's explore some tried-and-true ways to make your place stand out in the busy hospitality market.
It shifts the conversation from in-room TVs as guest amenities to essential business infrastructure,â said Jake Benner, Senior Director of Hospitality at LG Electronics North America. âWeâre committed to being a long-term business solutions partner to hoteliers,â said Benner.
The integration of HotelKey with Sojern holds great promise for Red Roof as we continue to invest in our business to create value for our franchisees and guests," said Sharee Brell , Red Roofs SVP of Technology. âWeâre committed to being a long-term business solutions partner to hoteliers,â said Benner.
Is your housekeeping labor cost in line with occupancy? By establishing internal baselines, you can measure improvement in ways that actually matter to your business. And remember, analytics doesn’t stop at revenue. You should also be asking: Are your internal operations efficient? Are service tickets closed on time?
Keeping the Human Touch in a Tech-Driven Workflow Its worth repeating: hospitality still is a human business. What will you do instead and how will that serve your business goals? Tracks all-new Owner Portal and automated reporting flows take the burden off your team. But the stuff no one notices when it works?
By Steven Moore Hospitality is a people business. Data creates shared purpose across roles It can be difficult for hotels to sustain alignment across different departments, especially during high turnover or busy seasons. This is a contributed piece to Hotel Business , authored by an industry professional.
For example, during peak travel periods, an efficient reservations manager using a modern property management system (PMS) can swiftly allocate room blocks for group bookings or special events, maximising occupancy without overbooking. Efficiently managing OTAs and direct bookings is key to maintaining high occupancy rates.
We owned hotels, so people thought we were in the ownership business. We managed hotels, so they assumed we were in the management business. That means listening to their needs and responding with solutions that help them take their business to the next level. Nobody really knew who Wyndham was, Ballotti said.
Later this year, brands will also gain AI-powered tools like chatbots for data insights for loyalty, ordering, and developer support, personalized upselling and offers, plus new app-less loyalty and payment features, including wallet passes, QR codes, and auto-reloading gift cards.
In the hotel business, repeat guests are gold. For hoteliers, this translates to more room-nights, improved occupancy during off-peak periods, and reduced reliance on OTAs. In the hospitality business, peer recommendations carry more weight than advertisements.
Later this year, brands will also gain AI-powered tools like chatbots for data insights for loyalty, ordering, and developer support, personalized upselling and offers, plus new app-less loyalty and payment features, including wallet passes, QR codes, and auto-reloading gift cards.
Later this year, brands will also gain AI-powered tools like chatbots for data insights for loyalty, ordering, and developer support, personalized upselling and offers, plus new app-less loyalty and payment features, including wallet passes, QR codes, and auto-reloading gift cards.
Meanwhile, nationwide hotel occupancy reached 67.5% With the right systems in place, you can generate an insightful report on occupancy trends, revenue streams, and guest behavior—empowering you to adjust strategies in real time. What does this mean for you as a new hotelier ? Success also depends on data-backed decisions.
You can also run exclusive deals, loyalty programs , and upselling campaigns—all without relying on intermediaries. Make Smarter, Data-Driven Decisions When you’re busy running day-to-day hotel operations , it’s hard to take a step back and assess what’s working and what’s not.
The data covers key hotel performance indicators such as occupancy, RevPAR, booking lead time, length of stay, international and domestic travel, direct and OTA bookings, as well as upsell performance to forecast trends shaping the hotel industry in 2023. Some of the findings: Direct bookings are on the rise.
An effective strategy that can help is to upsell additional services or products relevant to customers. Therefore, upselling in hotels is not only influential but cost-efficient as well. What is Upselling? Upselling is a sales strategy that offers consumers additional services or add-ons to increase revenue.
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