Hospitality Net

AUGUST 27, 2023

Yield management allows hotels to manage the capacity of their rooms more profitably, and the accuracy of statistical forecasting determines how useful it will be. Inaccurate forecasts can result in decreased revenue, earnings, and operational challenges, which makes getting it right critical.

Forecasting 188

Forecasting Yield Management Cancellation Revenue Management 188

Hotel Speak

DECEMBER 11, 2023

Effectively plan and reach your business goals for 2024 with these smart revenue management and distribution tips. To cope with a highly dynamic market , improve efficiency and meet the evolving needs of guests, there have been some shifts in revenue management and distribution.

Revenue 54

Revenue Revenue Management Cancellation Hotels 54

STAAH

NOVEMBER 8, 2022

Like many other areas in travel and hospitality, revenue management has dramatically changed in the last two years. We spoke to leading revenue managers on what they think lies ahead. Revenue managers have had to up their ante on monitoring local trends and populace segments to get a better understanding of demand.

Revenue Management 72

Revenue Management Revenue Management Forecasting 72

SiteMinder

MAY 6, 2024

We spoke to Christopher Ramirez , CEO and Managing Director about the mission and his experience with SiteMinder’s platform. “My Many managed their rates, inventory and reservations manually, which was inefficient and increased the chances of making mistakes. My passion for luxury hospitality started in 2013.

Revenue 52

Revenue Cancellation Hotels Sales 52

STAAH

FEBRUARY 6, 2024

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. 6) Train your staff to manage overbookings.

Overbooking 90

Overbooking Cancellation Upsell Revenue 90

Little Hotelier

NOVEMBER 6, 2023

What is hotel revenue optimisation? As a small, independent hotelier you may have heard the terms hotel revenue optimisation and hotel revenue management. So what is revenue optimisation? Do all that and you’ll optimise your revenue by making as much money as possible from a limited resource: your rooms.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Webrezpro

FEBRUARY 5, 2024

You can better manage what you measure. Collected here are various statistics and forecasts to inform you of important global and local trends, revenue drivers, cancellation rates, market insights, and guest/consumer preferences. As you plan your 2024 strategies, […] Source

Cancellation 89

Cancellation Forecasting Consumer Hospitality 89

Hotelogix

DECEMBER 25, 2023

A Hotel Property Management System (Hotel PMS System) is a solution that streamlines and automates the daily operations of a hotel. It is a powerful tool that efficiently enables hotel managers/owners to manage guest reservations, room assignments, check-ins, check-outs, billing, housekeeping, and many other essential tasks.

Revenue 59

Revenue Sales Hotels Shopping 59

Cloudbeds

MAY 8, 2024

Instead of a time machine, you need data on your hotel’s booking performance from your property management system. Key performance metrics to understand booking performance To properly analyze your booking performance, you will need to use your property management software or channel manager reports.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

Horizon Hospitality

JUNE 20, 2023

You might even consider requiring a credit card on file and charging a cancellation/no-show fee. If you charge a cancellation fee, be sure to explicitly state how far in advance they must cancel and explain the best way for them to do so. Just be sure your management has the communication skills to handle these conversations.

Cancellation 105

Cancellation Hiring Management Hospitality 105

Inn Quest

OCTOBER 17, 2023

That being said, this blog explores some best practices for avoiding overbooking in the hotel industry as well as how to accurately track occupancy rates and manage inventory across multiple channels. They are a result of a delicate balance between maximizing revenue and providing guest satisfaction.

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

Hotelogix

NOVEMBER 12, 2023

Call them hotel reports or hotel management system reports, they help you gain insights on your hotel business so that you can make data-driven decisions. However, without a hotel property management system, it would be next to impossible to extract those reports manually.

Management 59

Management Occupancy Average Daily Rate Revenue 59

Cloudbeds

AUGUST 21, 2023

Overbookings can be stressful for the front desk and the guest, but you can manage them with ease if you have a proper plan in place. While for some hoteliers it’s best to avoid overbookings altogether, for others, a good strategy can increase revenue, improve the occupancy rate and mitigate losses. How could this happen?

Overbooking 98

Overbooking Cancellation Occupancy OTA 98

Hotelogix

NOVEMBER 13, 2023

Although it is a  common practice in hotel management, it has been a matter of debate particularly because of the complications it brings during peak hours. However, in cases of last-minute cancellations, your profit is badly impacted. However, in cases of last-minute cancellations, your profit is badly impacted.

Overbooking 59

Overbooking Cancellation Occupancy Revenue 59

STAAH

DECEMBER 13, 2023

Flexible Rate or Free Cancellation – the most popular rate types among our guests. This rate plan offers guests the option to cancel their booking for free up to 5 days before their check-in date, making it an attractive choice for those seeking flexibility. Non-refundable Rate – designed to secure more bookings and guarantee revenue.

Cancellation 78

Cancellation Revenue Market Marketing 78

SiteMinder

JANUARY 8, 2024

What is hotel management? Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. Successful hotel management is about being able to adapt and meet challenges within a range of roles and responsibilities.

Operations 59

Operations Management OTA Hotels 59

Little Hotelier

MARCH 25, 2024

Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy. Price and promote your property better with Little Hotelier Little Hotelier's Insights tool gives you more control, more support and more revenue. bad weather, surprise events or event cancellations).

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

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

TravelNet

AUGUST 3, 2023

Managing fees on online travel agencies (OTAs) can be a real headache for property managers. of booking before taxes, host pays 3%, though the rate is higher for listings in Italy or hosts with Super Strict cancellation policies. You also need to cover your expenses—from commission rates to housekeeping.

OTA 98

OTA Management Occupancy Services 98

SiteMinder

JANUARY 8, 2024

What is hotel management? Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. Successful hotel management is about being able to adapt and meet challenges within a range of roles and responsibilities.

Operations 52

Operations Management OTA Hotels 52

STAAH

DECEMBER 12, 2023

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. This strategy not only secures bookings but also helps in revenue forecasting and inventory management.

Target Marketing 79

Target Marketing Cancellation Forecasting Revenue 79

Hotelogix

JANUARY 30, 2024

As a hotelier, monitoring your hotel's performance is paramount to ensuring smooth operations and maximizing revenue. Night Audit Report The night audit generates key reports for hotel management. The report also covers cancellations, no-shows, and temporary reservations for the day.

Occupancy 59

Occupancy Average Daily Rate Hotels Cancellation 59

STAAH

MAY 24, 2023

6)Identifying popular cancellation policies: By analyzing popular cancellation policies , hoteliers/accommodation providers can gain a better understanding of guest preferences and factors that influence their decision to cancel a booking. How to view Market Insights in STAAH MAX?

Market 81

Market Marketing Cancellation Accommodation 81

SiteMinder

NOVEMBER 6, 2023

Airbnb host fees come in two forms: Host-only fee: This fee structure is mandatory for what Airbnb calls ‘traditional hospitality listings’, such as hotels, hostels, serviced apartments, etc, and for any other owners that publish and manage listings through a PMS like SiteMinder. The guest then pays a fee of approximately 14%.

Cancellation 59

Cancellation Hotels Services OTA 59

Hotelogix

NOVEMBER 13, 2023

After all, there is no magic mantra that is universally approved for hotels to achieve their goals and increase hotel Revenue! And we bring to you five such effective hotel pricing strategies to help you maximize revenues and build a sustainable hotel business. It would help you sell more rooms and boost your occupancy.

Revenue 52

Revenue Occupancy Forecasting Minimum Length of Stay 52

STAAH

JULY 12, 2023

On Expedia Group sites, your property will show ‘Free Cancellation’ in traveller search results. In a recent survey, travellers told us that the ability to cancel and get a full refund if their plans change is one of their top considerations when booking travel.* We recommend a 100% refund for cancellations within a short.

Cancellation 80

Cancellation General Manager Travel Accommodation 80

Inn Quest

APRIL 3, 2023

As the hospitality industry evolves after the pandemic, it’s more important than ever for hotels to streamline their day-to-day operations to improve efficiency, enhance the guest experience, and increase revenue. Here are some ways to streamline operational tasks for your hotel.

Operations 88

Operations Revenue Management Forecasting Revenue 88

Little Hotelier

JUNE 5, 2023

As a host, understanding these fees is crucial as they directly impact your revenue and profitability. However, Airbnb’s commission can go up to 14% or more for hosts who have a Super Strict cancellation policy. Cancellation fees Cancellation fees apply if a guest cancels a reservation during certain periods.

Cancellation 52

Cancellation Revenue OTA Services 52

eZee Absolute

DECEMBER 11, 2023

Imagine you have 25 rooms to manage in your bustling hotel. Well, that’s where your trusty sidekick in this digital world comes in – the hotel channel manager. In simple words, a channel manager is your 24*7 assistant in the digital world of bookings. It maximizes the chances of getting a booking and optimizing your revenue.

Management 59

Management OTA Overbooking Global Distribution System 59

Hotel Business

FEBRUARY 22, 2023

SiteMinder’s new Hotel Booking Trends report, a hotel commerce data analysis of more than 36,000 hotels and 450+ connected booking integrations, has revealed travelers booked their trips on average eight days earlier, and canceled their bookings 17% less year-on-year in 2022, despite a 24% increase in the average daily hotel room rate.

Travel 102

Travel Average Length of Stay Average Daily Rate Global Distribution System 102

STAAH

JUNE 6, 2023

To make this possible having a robust online booking system is really important to help you reach your revenue goals. 2) Boost your Revenue: Direct bookings generated through a hotel booking engine can significantly boost revenue. This ensures that guests have access to real-time data and can make informed decisions.

Cancellation 72

Cancellation OTA Global Distribution System Revenue 72

Little Hotelier

JULY 31, 2023

From a fully interactive calendar that enables changes to rates and room types, to an intuitive content manager that allows you to easily update and rate the quality of your content, images, and offers, MaxiRoom is designed to simplify the management of your property in their system. Learn more Is Hotelbeds owned by Expedia?

Cancellation 52

Cancellation Overbooking OTA Occupancy 52

Little Hotelier

JUNE 21, 2023

This can be in regards to a whole range of factors, such as your: Customer service Check-in/check-out processes Payment and cancellation policies Amenities Food and beverage Room quality Accuracy of your descriptions Regardless of whether the customer is right or wrong in your view, their review matters.

Management 59

Management Cancellation Services Travel 59

SiteMinder

SEPTEMBER 6, 2023

While they can be a wild card in the hotel management game, they offer a unique opportunity to maximise occupancy and revenue. Boosted revenue : Late bookings often come with higher price tags, capitalising on the urgency of the guest’s needs. An occupied room, even at a discounted rate, is better than an empty one.

Overbooking 98

Overbooking Occupancy Revenue Hotels 98

TravelNet

DECEMBER 19, 2022

Shelley Warsaw, partner relationship manager at TNS, sat down recently with Whimstay to discuss their experiences using Track. Whimstay offers exclusive discounts to travelers on expiring inventory while driving additional revenue. Whimstay offers exclusive discounts to travelers on expiring inventory while driving additional revenue.

Cancellation 52

Cancellation Occupancy Revenue Services 52

Hospitality Taskforce

DECEMBER 8, 2022

The last few years have been a rollercoaster for the hospitality industry with the pandemic putting the kibosh on trips to Kaui and canceling Caribbean getaways. The CBRE forecast predicts an increase in demand and revenue per available room (RevPAR) in 2023. And we can help! Contact us to learn how we can help your business grow.

Forecasting 52

Forecasting Cancellation Hotels Construction 52

TravelNet

NOVEMBER 9, 2022

Shelley Warsaw, partner relationship manager at TNS, sat down recently with HomeToGo to discuss their experiences using Track. Introduction HomeToGo is the fastest-growing booking channel for property managers worldwide. HomeToGo is the fastest-growing booking channel for property managers worldwide.

Cancellation 52

Cancellation Average Length of Stay Management Revenue 52