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The APAC Revenue Management Summit returned to Melbourne this week under the fitting theme: Simply the Best. Just like in retail, every interaction is a chance to upsell, cross-sell, and reinforce brand loyalty, Kalan said. The panel explored broader market trends, owner expectations, and revenue management best practices.
To strengthen margins, hotels should look to successful upselling models. The result is untapped revenue and a missed opportunity to enhance the guest experience. By adopting a proactive upselling culture, hotels can bridge this gap, engage guests more effectively, and unlock a powerful incremental revenue stream.
Use revenue tech to your advantage Revenue management systems (RMSs) have evolved to provide smarter segmentation and demand forecasting to tighten levels of granularity. For example, targeting people looking for a local getaway during shoulder seasons or offering special deals to business travelers for repeat bookings.
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. While better than operating without data, this approach is reactive and inefficient, resulting in missed opportunities.
What is hotel upselling? Hotel upselling is the practice of encouraging guests to purchase additional services or upgrades during their stay, beyond their initial booking. In this blog, you’ll learn all the tips you need to make upselling a success at your business. Table of contents Why is hotel upselling important?
Upsells are a simple, straightforward way to drive more revenue, increase engagement, and build customer loyalty. Implementing the right upsell strategy can improve the guest experience and your bottom line.
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. âTogether, weâre bringing ancillary revenue into the digital core of hotel operations â where it belongs.
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. Ancillary revenue to the rescue! This post will show you how to convert those opportunities into revenue. The good news?
Exceptional guest experience can elevate a hotel’s reputation and increase revenue and repeat stays. 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?
In STAAH, the Indian hospitality group found a sophisticated system to help manage room types and yield rules, and boost direct revenue by 30%. Daily deals, upselling, promos and a number of other in-built capabilities allow Chokhi Dhani revenue managers to drive demand based dynamic pricing decisions.
In todays competitive hospitality landscape, driving revenue beyond the traditional room rate is no longer a luxuryits a necessity. With over two decades of experience, Pablos expertise is helping hotels unlock hidden revenue potential. With SiteMinder’s flexible platform, you can easily diversify your revenue streams.
In todays competitive hospitality landscape, driving revenue beyond the traditional room rate is no longer a luxuryits a necessity. With over two decades of experience, Pablos expertise is helping hotels unlock hidden revenue potential. With SiteMinder’s flexible platform, you can easily diversify your revenue streams.
Include add-ons and upsells on your property’s website to increase revenue and allow guests to customize their stay with you. Research shows that chatbots can increase booking conversion rates for hotels by up to 30% and lead to a 55% increase in upselling opportunities for hotels. Watch the full session from Passport 2024.
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.
Let’s be honestrunning a hotel while managing its revenue at the same time is a balancing act. From making sure staff, guests, and smooth operations are all attended to, we can understand why revenue management so frequently gets put on the back burners. What Are Revenue Management Tools? Thats where outsourcing comes in.
To analyze revenue and costs effectively through the guest journey, you need Business Intelligence (BI) tools that empower hotel commercial teams and management by providing real-time data analytics, actionable insights, and predictive modeling.
Revinate , a direct booking platform transforming the hospitality industry, offers a powerful way to enhance the guest experience and increase your propertys revenue through its Upsells feature. What is the upsells feature? The dual benefits of upsellingUpselling is a win-win for both hotels and your guests.
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. As a result revenue was missed and the guest experience in bookings was below par. Thats where STAAH came in.
All employees are revenue management ambassadors for their organisations. Everyone contributes to the revenue success of a business in both direct and non-direct ways. The impact of operational performance on revenue cannot be overlooked.
2) Smarter pricing with RMS integration Revenue Management Systems (RMS) are brilliant at crunching numbers – demand, competitor pricing, booking trends – but their recommendations are only as good as your ability to act on them and the data they are fed through connected systems.
Substantial opportunities exist to upsell and cross-sell to capture more total revenue from this growing segment. A significant customer cohort that has yet to be fully embraced at both operational and marketing levels are guests with disabilities.
In today’s fast-paced hospitality landscape, staying ahead of the curve is paramount for maximizing revenue potential. As technology continues to evolve, so do the strategies and innovations within revenue management.
Analyzing hotel data is a significant way to offer guests customized, revenue-driving recommendations If you aren’t tracking guest behaviors and using this hotel data to provide your guests with personalized, revenue-driving recommendations, you’re missing out on a major upsell opportunity. in the hotel bar?
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.
A hotel commercial strategy is a coordinated business approach that integrates sales, marketing, revenue management and distribution efforts to maximise total hotel revenue. It aims to drive profitability and improve competitiveness in the market for a hotel business. What is a hotel commercial strategy?
What is revenue optimization? Revenue optimization in hotels is a comprehensive strategy that accounts for all revenue streams and uses data to enhance the overall revenue performance of the business. Table of contents Why is hotel revenue optimization important?
Optimal resort revenue management requires organizations to look beyond the guestroom as they seek to maximize revenue. Ideally, resort hoteliers need to understand which guests are likely to spend the most overall during their stay—and even better, understand which guests are most profitable.
A quick search on the internet yields a wide range of definitions for ‘revenue management’. Some of these take a theoretical, almost academic approach and, in several instances, there are iterations of revenue management’s classic definition: ‘selling the right room, to the right guest, at the right time, for the right price’.
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? What is the primary purpose of revenue management?
With this seamless and end-to-end integration, Hotelogix aims to help hotels efficiently upsell and increase direct bookings for more revenue. It will, in turn, help hotels identify the guests’ spending patterns and present them with upselling opportunities.
Forced modifiers are just one way upselling in hotels can be maximized During a busy time of the year, like the start of the holiday season which we are quickly approaching, hotels are continually looking for strategies to drive non-room revenue. Notice a guest booked using a conference code?
A few small but powerful tweaks to your overall pricing strategy can make a dent to your revenue. In this blog, we share some simple tactics and ideas that can boost your hotel’s revenue. Optimise ancillary revenue. Attractively pricing these or combining with room booking to create packages can bump up your revenue quickly.
But personalization can also help hoteliers attract group bookingsa key revenue driver for many hotels. Imagine wedding guests seeing a personalized welcome message from the happy couple or business attendees accessing the days agenda with ease.
Hotel c hatbots have been spoken about at length across many industries where customer service is a key aspect of running a successful business. By handling guest inquiries 24/7, promoting services, and providing useful insights, chatbots save your staff time and can even boost your revenue. How does a hotel booking chatbot work?
Discover how you can increase your hotel ROI, while you’re maximizing revenue by choosing the right hotel technology Maximizing revenue and increasing ROI — it’s every business owner’s dream. Here are four ways hotel technology can offer a profitable return on investment, while maximizing revenue.
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. Effective merchandising adds a personal touch that not only boosts revenue for a hotel but also helps deliver the personalized experiences guests crave.
What is hotel revenue? Hotel revenue is the income your business earns from selling rooms or other products and services to guests. While revenue is mostly generated from selling your rooms, you can also collect revenue from your amenities such as a bar, restaurant, gym, or spa.
Nearly 20% of guests checked in online, and one in five hotels diversified revenue by monetizing spaces beyond hotel rooms. While parking spots and meeting rooms have played a huge role in this, 2024 will be the year that more hoteliers revolutionize revenue management. Online check-ins and upgrades continue to increase.
Boosted revenues On top of the revenue boost that can be driven by an enhanced guest experience, a unified inbox can also drive direct revenue by allowing you to configure and send upsell offers through WhatsApp templates. You can also boost revenue by crafting compelling upsell messages to send out at key moments.
We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.
Revenue is never accidental. In hospitality, every dollar earned reflects smart planning, sharp forecasting, and responsive pricing, all driven by the Hotel Revenue Manager. Why Is the Revenue Manager So Important? A Closer Look: A Day in the Life of a Revenue Manager Lets demystify the daily routine.
Stayntouch , a cloud hotel property management system (PMS) and guest-centric technology company, has unveiled UpsellPRO, an advanced upselling tool designed to expand and maximize revenue opportunities for hotels, according to the company. It’s really not personalized.
A recent study by Agilysys, a leading global provider of hospitality software solutions and services, has revealed a surprising trend in the APAC hospitality industry: high guest satisfaction doesn’t necessarily translate into repeat business. This enables your team to provide more relevant and valuable upsells.
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