Xotels

APRIL 3, 2024

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 Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Inn Quest

OCTOBER 17, 2023

They are a result of a delicate balance between maximizing revenue and providing guest satisfaction. While overbooking can lead to guest inconvenience and potential financial losses for the hotel, it is a revenue management strategy used to achieve high occupancy rates. Channel managers function by linking to a hotel PMS.

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

TravelNet

JUNE 26, 2023

Take time to reexamine your cancellation policy, rates, and fees. Double down on marketing efforts Property management companies who thrive in a down-turn market tend to double down on marketing. Revenue management Implementing revenue management strategies is essential for maximizing revenue.

Revenue Management 52

Revenue Management Revenue Occupancy OTA 52

Xotels

JANUARY 18, 2021

One of the components needed to apply a hotel revenue management is market segmentation. As a revenue manager or hotelier, your hotel market segmentation shall help to identify the purpose of the trip: either business or leisure. Total Revenue per Room, Total Revenue per Client. Cancellation %.

Hotel Marketing 40

Hotel Marketing Market Marketing Revenue Management 40

SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. Airbnb is quickly becoming a mainstay for hotels who want to drive additional revenue. The average cancellation rate is 20%. Hotel market revenue is worth close to $22 billion.

Occupancy 59

Occupancy Hotels Average Length of Stay Revenue 59

SiteMinder

FEBRUARY 25, 2024

By keeping up with the news about hospitality industry trends and events, a hotel can ensure that these changes won’t be detrimental to its business, and it can hopefully capitalise on these developments. Almost one in five hotel rooms booked online are cancelled prior to travel. billion in 2023.

Hospitality 52

Hospitality Cancellation OTA Tourism 52

Inn Quest

MAY 11, 2023

Best Hotel Pricing Strategies in 2023 Dynamic Pricing: Dynamic pricing is a revenue management strategy that allows hotels to adjust their room prices in response to fluctuations in market demand. This strategy works especially well for lodging facilities that encounter seasonal fluctuations in demand or a high rate of cancellations.

Revenue 88

Revenue Occupancy Hotels Market 88