Remove Cancellation Remove Consumer Remove Upsell
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How decision intelligence unlocks hotel data for better insights

Cloudbeds

Consider booking patterns, cancellation rates, average length of stay, guest preferences for room amenities or dietary restrictions, website and app metrics, competitor rates, and market trends—the list goes on. DI can also be more proactive and suggest upsells tailored to guest profiles and booking patterns.

Upsell 105
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Hospitality trends for 2023: what’s in and what’s out?

STAAH

Rapidly changing consumer mindset has forced hoteliers to adopt technology that makes the guest experience seamless and convenient. In related trends, booking windows are much shorter and cancellation policies continue to be very flexible across the industry. Adopting technology. Insights are critical. Up-selling and cross-selling.

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What is Yield Management: Guide for Hotels

SiteMinder

This can involve overbooking strategies to account for last-minute cancellations or no-shows. Overbooking Strategy : Intentionally accepting more reservations than available rooms, anticipating that a certain percentage of guests will cancel or not show up. This helps in tailoring specific offers or rates to different guest segments.

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What is a hotel reservation system and why is it important?

Cloudbeds

If the components aren’t integrated, the revenue manager must perform these tasks manually, a time-consuming and error-prone process. When travelers book on your website, you can upsell them to premium rooms and cross-sell onsite services and add-ons like breakfast, dining, spa, and recreation. Generate more revenue.

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Hotel Pricing Strategies to Boost Revenue in 2023

Inn Quest

This strategy works especially well for lodging facilities that encounter seasonal fluctuations in demand or a high rate of cancellations. Hotels can increase bookings and lower the chance of cancellations by providing discounts to customers who make reservations in advance.

Revenue 88
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Hotel revenue management strategies and solutions

SiteMinder

It involves the use of data and analytics to help you keep track of supply and demand so you can make predictions on consumer behaviour. Many businesses where consumers spend money have varying prices based on demand, supply and shifts in costs. This can only be done by measuring and monitoring the demand of your hotel rooms.

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What Is the Guest Life Cycle in Hotels?

Q4Launch

For example, overly strict cancellation policies can deter some potential guests. This is also prime time for upselling potential guests from their original reservation. Guests will be more receptive to any cross-selling and upsell offers while on the property. Arrival First impressions are everything.