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

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. 2) Use multiple data sources.

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Overbooking Cancellation Upsell Revenue 89

Hotelogix

DECEMBER 25, 2023

Hotel PMS System, or hotel management software, is crucial for generating more revenue.   To increase hotel revenue, you must start with the right Hotel PMS System - a cloud one. It should be your very first step towards achieving your revenue goals. Ultimately, all these result in more sales and revenue. 

Revenue 59

Revenue Sales Hotels Shopping 59

Cloudbeds

AUGUST 21, 2023

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. An overbooking strategy is when a property purposefully books its inventory beyond capacity in anticipation that a certain amount of guests will cancel or not show up.

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Overbooking Cancellation Occupancy OTA 98

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.

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Overbooking Cancellation Forecasting Occupancy 88

Hotelogix

JANUARY 30, 2024

As a hotelier, monitoring your hotel's performance is paramount to ensuring smooth operations and maximizing revenue. These include individual room details, revenue breakdowns by the counter, per-room and Point of Sale (POS) outlet earnings, and tax collection specifics for each room and POS outlet.

Occupancy 59

Occupancy Average Daily Rate Hotels Cancellation 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

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.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

Hotelogix

NOVEMBER 13, 2023

However, in cases of last-minute cancellations, your profit is badly impacted. To combat this, hotel revenue managers devise an overbooking strategy that aims at profit maximization What is overbooking in a hotel ? Hotels deliberately do this as a safety measure to avoid losses in case of any last-minute cancellations or no-shows.

Overbooking 59

Overbooking Cancellation Occupancy Revenue 59

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 71

Revenue Management Revenue Management Forecasting 71

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 77

Cancellation Revenue Market Marketing 77

SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. Hotel occupancy will increase 2.5% Online sales in the hotel segment will generate 80% of total revenue in 3 years. The average cancellation rate is 20%. million people.

Occupancy 59

Occupancy Hotels Average Length of Stay Revenue 59

SiteMinder

MAY 25, 2023

The bottom line is that hotels can lose millions of dollars in revenue due to abandonment, especially when you also consider that guests may book a room before delaying payment, and then cancelling altogether. Additional data shows that over 80% of travel bookings are abandoned, compared to the general average of around 70%.

Revenue 98

Revenue Cancellation Accommodation Hotels 98

Hotelogix

NOVEMBER 12, 2023

Reports like hotel revenue report and MIS hotel report are essential for every type of hospitality property. The report also shows room inclusion details (if available) along with the source of revenue collected. The revenue details in the report can be viewed including or excluding round off charges.

Management 59

Management Occupancy Average Daily Rate Revenue 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 80

Market Marketing Cancellation Accommodation 80

TravelNet

DECEMBER 19, 2022

Introduction Whimstay is the leading vacation rental marketplace for PMCs looking to increase occupancy rates by filling their unsold nights, last minute. Whimstay offers exclusive discounts to travelers on expiring inventory while driving additional revenue. Partnership Briefly describe what your company does. Simple and seamless.

Cancellation 52

Cancellation Occupancy Revenue Services 52

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. Last-minute hotel room bookings have a range of benefits including: Maximised occupancy : Filling rooms at the eleventh hour ensures that you’re making the most of your available inventory.

Overbooking 98

Overbooking Occupancy Revenue Hotels 98

SiteMinder

MAY 16, 2023

For hoteliers who can adequately meet the needs of their guests and provide value for money, there’s plenty of revenue opportunities to be had throughout the European and American summers. While short term bookings are the norm during high season, overlooking midterm bookings could mean missing out on a significant revenue opportunity.

Average Length of Stay 105

Average Length of Stay Occupancy Average Daily Rate Revenue 105

SiteMinder

SEPTEMBER 7, 2023

They can also be strategic revenue boosters that can significantly elevate your hotel’s profitability. While hotel fees can be powerful secondary revenue generators or a useful tool to mitigate additional operational costs, there is an art to applying them effectively.

Revenue 105

Revenue Hotels Services Cancellation 105

SiteMinder

OCTOBER 15, 2023

Taking supply and demand into account, dynamic pricing allows for prices to fluctuate regularly so the hotel can maximise revenue. For example, in the morning you may have lower rates because your occupancy is low and demand is not strong. This will allow them to capitalise on opportunities to boost occupancy and/or maximise revenue.

Occupancy 59

Occupancy Revenue Hotels Revenue Management 59

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

JULY 31, 2023

It’s designed to maximise hotel occupancy through its distribution channels. Maximise your property's performance with Little Hotelier Little Hotelier integrates seamlessly with Hotelbeds and MaxiRoom, helping you maximise your bookings and smash your revenue targets. What is MaxiRoom? Learn more Is Hotelbeds owned by Expedia?

Cancellation 52

Cancellation Overbooking OTA Occupancy 52

Little Hotelier

OCTOBER 11, 2023

This is exciting for your business because it presents an opportunity to push the limits of your occupancy and cash-in on increased revenue. Strategies to prepare for peak season in the hotel industry When peak season is just around the corner, it’s exciting – you’re looking forward to welcoming guests and having full occupancy.

Maximum Length of Stay 52

Maximum Length of Stay Minimum Length of Stay Overbooking Occupancy 52

SiteMinder

OCTOBER 15, 2023

They can also be known as distribution channels and are crucial for ensuring your hotel maintains a healthy occupancy rate and revenue stream. This blog will explain which channels are the most lucrative for your hotel and how you can maximise revenue using them. Skyscanner – A common choice for travellers on a budget.

Global Distribution System 59

Global Distribution System OTA Revenue Hotels 59

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

SiteMinder

FEBRUARY 25, 2024

decrease in occupancy during December. Almost one in five hotel rooms booked online are cancelled prior to travel. James Liang, CEO of Chinese OTA Ctrip, finds the idea of an entry into the US market ‘ very interesting ‘ In 2022, one in every five hotel bookings ended up being cancelled, a 33% increase on 2019 figures.

Hospitality 52

Hospitality Cancellation OTA Tourism 52

Amadeus Hospitality

JUNE 20, 2023

With continued demand for leisure travel and the reopening of China to tourism after several years, global hotel occupancy is on the upswing in 2023, with many markets surpassing pre-pandemic occupancy levels according to Amadeus Demand360 ® data. Here’s how.

Hospitality 52

Hospitality Travel Occupancy Revenue 52

STAAH

MAY 30, 2023

In today’s digital age, effective hotel distribution and pricing strategies are crucial for maximizing revenue and staying competitive. Analyzing revenue streams using a channel manager’s dashboard helps revenue managers gain insights for creating an optimal online distribution strategy.

OTA 82

OTA Hotels Revenue Travel 82

TravelNet

AUGUST 3, 2023

While OTAs charge a specific percentage on bookings, the advantage of using their marketing muscle means more bookings and occupancy. of booking before taxes, host pays 3%, though the rate is higher for listings in Italy or hosts with Super Strict cancellation policies. Damage Deposit Airbnb: No damage fee for hosts!

OTA 98

OTA Management Occupancy Services 98

Cloudbeds

MARCH 8, 2024

Multiple revenue streams and expenses Your hotel is not a one-trick pony. Understanding how to efficiently manage and process multiple revenue streams and expenses and how these lead to overall profitability unlocks growth potential. Here are a few essential things to consider when it comes to accounting in the hotel industry.

Forecasting 52

Forecasting Revenue Hotels Revenue Management 52

Clock Software Hospitality

OCTOBER 27, 2020

Read more: Guest Outreach and Retention | COVID-19's Effect on the Hotel Industry Hoteliers are opening their doors to local guests in an attempt to drive up their occupancy but the issue remains that the industry in its current format cannot survive unless it adjusts to fit this emergency state of hospitality.

Hospitality 52

Hospitality Cancellation Occupancy Revenue 52

Hotelogix

OCTOBER 18, 2023

It enhances guest satisfaction, optimizes operational efficiency, and drives revenue growth for your hotel business.  This leads to better utilization of room inventory and maximizes occupancy rates. Manages Your Revenue Better Reservation systems offer insights into booking patterns, demand trends, and pricing strategies.

Business 40

Business Global Distribution System Cancellation Hotels 40

Travelboom Marketing

SEPTEMBER 1, 2023

Increase RevPAR & Occupancy with a Hotel Loyalty Program With a goal of maximizing both occupancy AND RevPar, driving direct bookings with the help of a hotel loyalty program is a must. Considering offering an early check-in, and / or free cancellation to guests that book direct.

Ancillary Revenue 52

Ancillary Revenue Upsell Hotels Travel 52

SiteMinder

JANUARY 8, 2024

Hotel management made easy Streamline hotel management, boost revenue, and enhance guest experience with SiteMinder's smart platform. Revenue management: Depending on the size of the hotel, the task of managing revenue might be given to the general manager or to a dedicated financial officer.

Operations 59

Operations Management OTA Hotels 59

SiteMinder

JANUARY 8, 2024

Hotel management made easy Streamline hotel management, boost revenue, and enhance guest experience with SiteMinder's smart platform. Revenue management: Depending on the size of the hotel, the task of managing revenue might be given to the general manager or to a dedicated financial officer.

Operations 52

Operations Management OTA Hotels 52

Inn Quest

MAY 11, 2023

However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world. The question is, how can hoteliers implement effective pricing strategies to boost their revenue and stay ahead of the competition?

Revenue 88

Revenue Occupancy Hotels Market 88

SiteMinder

NOVEMBER 15, 2022

This blog will give you a full guide to Google Hotel Ads, explaining how hotels can manage their Google presence with ease using integrations, while responsibly managing a budget and maximising revenue. Using Google Hotel Ads, a hotel should expect to increase its traffic and, in turn, total revenue. Table of contents.

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Cost Per Click Hotels Cancellation Management 105