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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 hotels, this includes making dynamic rate suggestions and identifying segments and offers for marketing campaigns.
For hotel chains and resorts managing high service volumes across multiple properties, the pressure to respond faster — without sacrificing quality — has made automated customer service not just an operational upgrade, but a financial necessity. Let’s check it out! What Is Automated Customer Service in Hospitality?
With the right technology, these contactless experiences can not only enhance guest satisfaction , making it easier for travelers to get what they need, but also streamline internal workflows, making day-to-day hotel operations effortless for teams. Discovery Guests expect to be able to book a hotel stay without having to pick up the phone.
Flexible Cancellation Policies : In an unpredictable world, flexibility matters. Upsell & Promo Tools : Drive more revenue per booking with add-ons, promo codes, and package deals. Promote direct booking perks like free breakfast, flexible cancellation, or early check-in. This creates a sense of privilege and urgency.
What is a hotel overbooking strategy? The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. By deploying this strategy a hotel is insuring itself against possible cancellations by having secured guests who can fill cancelled bookings.
Here are 8 smart pricing strategies for hotels to boost revenue and drive more bookings during the holiday season The holiday season marks a period of increased travel, festive cheer, and heightened demand in the hospitality industry. Let’s explore some tips to maximize your hotel’s profitability during this festive period.
Setting the right price for your hotel rooms is crucial for driving revenue and maximizing profitability. However, there are many factors that can influence your hotel’s pricing strategies. What is Hotel room pricing? What is Hotel room pricing? Hotel room pricing is a critical element of revenue management for hotels.
Data analytics in the hospitality industry is already guiding hotels in making smarter, faster decisions. In this article, we explore how data analytics and AI are reshaping decision-making in the hospitality industry, with practical applications in hotel operations, marketing, and guest experience. Have you heard the news?
Data analytics in the hospitality industry is already guiding hotels in making smarter, faster decisions. In this article, we explore how data analytics and AI are reshaping decision-making in the hospitality industry, with practical applications in hotel operations, marketing, and guest experience. Have you heard the news?
The future of AI in hospitality is no longer a distant realityit’s starting now, transforming how hotels communicate with travelers, drive direct bookings, and streamline key functions in daily operations. Its a strategic asset for hotels seeking to scale personalized service and optimize commercial performance. billion by 2026.
A hotel booking engine is a crucial tool for hotels and accommodation providers in today’s time. It plays a key role in the overall success of a hotel’s operations. By facilitating direct bookings, hotels can avoid commission fees and have more control over their pricing, promotions, and guest relationships.
Discount pricing strategy comes in many forms, and a hotel also needs to consider how to promote discount pricing offers in order to reach the maximum number of relevant eyeballs. Learn more Why is discount pricing used in hotels? All hotels go through peaks and troughs throughout the year. Discounts for guests who book direct.
For hotels, the ultimate aim of yield management is to increase revenue by leveraging the balance between supply (available rooms) and demand (guest bookings). By understanding and anticipating guest behaviour and market dynamics, hotels can optimise their pricing strategies to boost their bottom line.
When travelers make a hotel reservation, they expect a seamless experience , or they may decide to stay elsewhere. For hotels, meeting this expectation means moving away from manual processes and investing in booking software that allows travelers to book a room when they want on the channel of their choice.
What is hotel revenue optimisation? As a small, independent hotelier you may have heard the terms hotel revenue optimisation and hotel revenue management. They get to the heart of what a hotel business is, and are critical to understand if you are to succeed in a competitive market. So what is revenue optimisation?
No-shows are a recurring challenge in the hospitality industry, but with the right strategies, hotels and resorts can minimize their impact and maximize revenue. In this blog, we’ll explore the concept of no-shows in hotels, their impact on revenue and operations, and discuss effective policies to mitigate their effects.
What do these travel trends mean for hotel marketing? Hotel designs and experiences that showcase the local culture help create a distinct identity for the property and appeal to that rising section of travellers seeking more authenticity in travel. Expect budget-conscious guests to walk through the doors in 2023, possibly beyond.
As we step into 2023, the hospitality industry is still reeling from the effects of the pandemic – which makes implementing hotel pricing strategies more important than ever. With travel restrictions lifted, hotels are gearing up to welcome guests again.
In the hospitality industry, hotels must study reservation patterns, anticipate demand, and price accordingly. This makes big data for hotels quite valuable. Big data is a way to identify what these hotels do best and market those strengths more powerfully. Improving Occupancy Rates Using Big Data for Hotels.
What is a hotel booking confirmation email? The confirmation email for a hotel reservation is critical and should be sent straight after a guest completes their booking. A hotel booking confirmation email serves as a record that the guest can easily access in the weeks, days and hours leading up to check-in.
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. Other products such as hotel amenities and food and beverage offerings will also form part of the strategy.
Independent hotels have seen significant growth since online travel agencies transformed the hospitality market place. Independent hotels are the response to a growing demand for boutique hotels on the part of Millennial travellers.
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.
Hotels should explore similar toolsâespecially in buffet settings and banquet operationsâwhere overproduction is common. Hotel F&B leaders should reframe food waste not just as an environmental issue, but as a bottom-line opportunity. Waste Reduction = Cost Avoidance A 44% cut in food waste led to $250 million in savings.
Hotels are experiencing a major shift in traveler behavior, including the most recent demands from guests. In the latest TravelBoom Leisure Travel Trends Study , we recognize the importance of loyalty programs for hotels. Guests are looking for the best hotel rewards program available. loyalty programs for hotels.
Booking channels are platforms by which your hotel can accept reservations online or offline. They can also be known as distribution channels and are crucial for ensuring your hotel maintains a healthy occupancy rate and revenue stream. Table of contents Why are online booking channels important for hotels?
Hotel booking software , also known as hotel reservation software, is any technology that enables hoteliers to accept direct bookings through their website and other direct distribution channels. It is an external interface where guests schedule their stay, choose rooms, and make payments, without contacting the hotel directly.
Even highlighting “free cancellation” or other flexible policies can work to enhance the hotel’s sales and revenue strategies. As a hotelier this is a valuable upsell opportunity if you can be creative in how you advertise your property to appeal to both the business and leisure side of the guest experience.
One of the most challenging aspects of running a hotel is determining exactly which segment is worth targeting in terms of loyalty. The new guest acquisition can cost the hotel owner a pretty penny, and there can be no surefire way of establishing how much a guest is going to spend until they do.
Running a hotel is no small task. If your hotel site takes more than a few seconds to load, chances are guests are hitting the back button and heading elsewhere maybe to an online travel agents (OTAs) or a competitor down the street. Offer small perks like free breakfast, a room upgrade, or flexible cancellation.
Using technology, hotels can facilitate a seamless booking experience, making it easy to reserve spa services in advance or off a last-minute whim. What is hotel spa software As of 2024, wellness tourism globally was worth $651 billion and had a forecasted average annual expenditure growth of 16.6%
Maybe you just started thinking about where you’d want to go, or perhaps you bought your plane ticket and booked your hotel. Knowing the stages of the guest life cycle in hotels and how to target potential guests at each step of the vacation-planning process is a crucial aspect of running a successful marketing campaign.
Among them, Expedia remains one of the most influential players—connecting hotels to a global audience through its platform and its wider brand network. Expedia is one of the largest online travel agencies in the world, offering hotel bookings, flights, car rentals, and vacation packages through its platform Expedia.com.
Imagine this: You own a beautiful boutique hotel. This article will show you how ChatGPT can help hotels keep guests engaged , improve their experience, and increase revenue , all while reducing staff workload. The Rise of AI in Hospitality Technology has changed how people book and experience hotels. You wonder why.
To save time and money, more travelers are turning to metasearch platforms like Google Hotel Ads, Tripadvisor, and Trivago to search for hotels, conduct price comparisons, and find deals. This guide aims to take the mystery out of metasearch marketing for independent hotels and other types of lodging properties.
What is a hotel competitor analysis? A hotel competitor analysis allows your hotel or small accommodation to compare the strengths and weaknesses of your local peers with your own business, so you can work on being the most attractive option for visiting travellers. What is a hotel comp set and how do you find it?
Throughout the years this has led to countless innovations in the industry, culminating with the adoption of hotel property management systems (PMS) which now act as the centre of a hotel’s daily operations. Industry innovation has allowed PMS solutions to evolve to the point where their usefulness has revolutionised hotel efficiency.
Managing daily hotel operations is undoubtedly a complex and stressful task. We are talking about the Hotel Property Management System, also called the Hotel PMS System. In fact, today, when we say digitization of hotel operations, it indicates the adoption of the Hotel PMS System. You are right. Stay tuned.
While many property management systems auto-generate simple transactional emails, proper email marketing software for hotels does so much more than the basics. A full-featured hotel guest messaging solution makes it easy to communicate with future, current, and past guests. Second, is email marketing campaigns.
At Wyndham Hotels & Resorts ‘ 2023 Global Conference at the Anaheim Convention Center in Anaheim, CA, the company introduced new owner and guest engagement platforms. Over the last five years, the company has invested more than $275 million in technology, all while expanding its on-the-ground operational support of hotels.
Whether you run an independent hotel, B&B, vacation rentals, or hostel, it’s critical to get your inventory in front of potential guests at all times. So how do hotels pick the right distribution sites for a property’s individual needs? The same happens with a cancellation. How does a channel manager work?
âMaestroâs impactful technology is helping independent hotel operators take greater control of their operations while enhancing both guest and staff experiences. The tools we will demonstrate and display are enabling hoteliers to thrive and remain competitive as modern travelersâ demands continue to evolve.
Trivago is a hotel metasearch engine aggregating data from multiple online distribution channels to enable price comparison in one place. As one of the most popular metasearch platforms in the hotel industry, Trivago is an essential component of the distribution strategy of a successful hotel. How do they work?
For hospitality professionals, sample benefits include: Simplified and Accelerated Prospecting: Streamline outreach with curated planner lists and personalized emails based on hotel account insights, and attract planners with immersive AI-powered 3D room layouts. Click here to book a meeting to speak with our team at HITEC.
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