Remove Cancellation Remove Forecasting Remove Overbooking
article thumbnail

How To Avoid Overbooking In the Hotel Industry

Inn Quest

Overbooking is a common problem in the hospitality industry, causing major issues for both – hoteliers and guests. Striking the perfect balance between fully booked rooms and avoiding overbooking can be a challenging task. This is why our guide discusses how to avoid overbooking in hotels. Why Do Hotel Overbookings Happen?

article thumbnail

Hotel revenue management: trends in a post Covid world

STAAH

The second of our two-part blog series on revenue management looks beyond challenges towards trends emerging from dwindled demand, patchy recovery and flipping of established revenue management processes to forecast and inform pricing. If you’re lost amidst volatile demand and ineffective conventional forecasting methods, don’t worry.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is Yield Management: Guide for Hotels

SiteMinder

Learn more Yield management vs revenue management The goal of yield management is not merely to increase room rates or occupancy; rather, it’s to maximise your hotel’s revenue by forecasting your room supply and demand across a variety of key factors. Informed Decision-Making : Yield management relies heavily on data analytics.

article thumbnail

Hotel Revenue Management Strategies

Xotels

Following best practices and a well-thought-out strategy is the only way to unlock the full potential of revenue for your hotel , with benefits including: Claim your fair market share: with more hotels forecasted to open every year , gaining a fair market share will become more difficul t each year.

article thumbnail

Difference between a Hotel PMS, Channel Manager, OTAs and Booking Engine

Hotelogix

Your front desk staff can use a Hotel PMS to accept, cancel, and modify reservations based on your guests’ requirements. It analyses several factors including demand, season, occupancy forecast, and competitor pricing, etc. This would lead to overbooking and double booking. For example, you sell your rooms on 5 OTAs.

OTA 52
article thumbnail

Mastering The Art of Resort Revenue Management

Catala Consulting

Improved Forecasting: Resort revenue management allows establishments to make accurate demand predictions. These forecasts are instrumental in strategic planning, enabling resorts to manage their resources effectively and maintain a consistent revenue stream all year round.

article thumbnail

Top Revenue Management Strategies for Hotels

Xotels

Following best practices and a well-thought-out strategy is the only way to unlock the full potential of revenue for your hotel , with benefits including: Claim your fair market share: with more hotels forecasted to open every year , gaining a fair market share will become more difficul t each year.