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

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

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. 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.

Revenue 59

Revenue Sales Hotels Shopping 59

Catala Consulting

JULY 30, 2023

In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Why is Revenue Management Imperative for Resorts?

Revenue Management 52

Revenue Management Revenue Resorts Management 52

SiteMinder

JANUARY 8, 2024

Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. Hotel management made easy Streamline hotel management, boost revenue, and enhance guest experience with SiteMinder's smart platform. Operations management in the hospitality industry is a broad term.

Operations 59

Operations Management OTA Hotels 59

Cloudbeds

MAY 8, 2024

After reading this article, you will learn how an effective analysis of your property’s booking performance will help you better understand your property’s demand patterns and how to leverage them to maximize revenue and occupancy. What is booking performance? As opposed to ADR, RevPAR takes into account your occupancy rate.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 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. bad weather, surprise events or event cancellations).

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

SiteMinder

JANUARY 8, 2024

Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. Hotel management made easy Streamline hotel management, boost revenue, and enhance guest experience with SiteMinder's smart platform. Operations management in the hospitality industry is a broad term.

Operations 52

Operations Management OTA Hotels 52

Hotel Business

SEPTEMBER 15, 2023

Eister There are many myths about revenue management, but there are five we hear most often. Myth #1: Revenue management is only essential when business is booming. Revenue management is a fundamental part of business, especially in such a dynamic industry as hospitality. Using external data about your market can assist here.

Revenue Management 64

Revenue Management Revenue Management Forecasting 64

Inn Quest

OCTOBER 17, 2023

They are a result of a delicate balance between maximizing revenue and providing guest satisfaction. While overbooking can lead to guest inconvenience and potential financial losses for the hotel, it is a revenue management strategy used to achieve high occupancy rates. Why Do Hotel Overbookings Happen?

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

Horizon Hospitality

JUNE 20, 2023

It can throw operations out of balance and often creates staff resentment toward diners. 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.

Cancellation 105

Cancellation Hiring Management Hospitality 105

Hotelogix

JANUARY 30, 2024

As a hotelier, monitoring your hotel's performance is paramount to ensuring smooth operations and maximizing revenue. In this context, reports are critical as they provide key insights into your hotel's operations, from housekeeping to finance, marketing, and guest preferences.

Occupancy 59

Occupancy Average Daily Rate Hotels Cancellation 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.

Overbooking 98

Overbooking Cancellation Occupancy OTA 98

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

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. Many hotels are still operating on an inventory allocation model.

Overbooking 98

Overbooking Occupancy Revenue Hotels 98

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

Hotelogix

NOVEMBER 12, 2023

So, in this case, it is highly advisable to adopt a smart cloud-based hotel property management system that would help with hundreds of accurate reports on every aspect of your hotel operations. Reports like hotel revenue report and MIS hotel report are essential for every type of hospitality property.

Management 59

Management Occupancy Average Daily Rate Revenue 59

Little Hotelier

JUNE 5, 2023

These fees are designed to cover the operational costs of the platform and provide services such as customer support, secure payment processing, and the development of new features. As a host, understanding these fees is crucial as they directly impact your revenue and profitability. How much does Airbnb charge hosts?

Cancellation 52

Cancellation Revenue OTA Services 52

Hotelogix

APRIL 18, 2024

For instance, a business that has just started is focused on making money immediately whereas a more established hotel business with steady revenues would concentrate on its reputation. One hotelier in Tanzania (now a client), would log into every OTA and update his room inventory whenever there was a booking or a cancellation.

OTA 52

OTA Overbooking Cancellation Business 52

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

Little Hotelier

JULY 31, 2023

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. Hotelbeds was sold by Europe’s biggest tour operator TUI in April 2016. Hotelbeds is now a standalone company and operates independently.

Cancellation 52

Cancellation Overbooking OTA Occupancy 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. In 2023, the cost is expected to increase by another 7%.

Forecasting 52

Forecasting Cancellation Hotels Construction 52

STAAH

JUNE 6, 2023

It plays a key role in the overall success of a hotel’s operations. 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.

Cancellation 72

Cancellation OTA Global Distribution System Revenue 72

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

NOVEMBER 9, 2022

We help deliver bookings with characteristics close to the benefits of a direct booking such as access to direct guest communications, ability to use your own cancellation policies, being the merchant of record and more while giving you access to millions of new guests. Partnership Briefly describe what your company does.

Cancellation 52

Cancellation Average Length of Stay Management Revenue 52

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

Little Hotelier

MAY 21, 2023

Cancellation rates have progressively decreased among small Italian properties over the last three years. Bookings made directly to a property’s website were a more important source of revenue for smaller Italian properties in 2022, compared to larger ones. They’ve dropped from 39% in 2020, to 25% in 2021, to 24% last year.

Accommodation 52

Accommodation Cancellation Revenue Travel 52

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

Cloudbeds

APRIL 24, 2023

At the same time, however, it has increased the exposure of lodging operators to a growing problem: credit card fraud. For owners and operators of independent lodging businesses, credit card fraud is not only time-consuming and costly, but it can also damage traveler trust, guest loyalty , and online reputation.

Hotels 98

Hotels Cancellation Operations Consumer 98

SiteMinder

FEBRUARY 13, 2023

SiteMinder’s new Hotel Booking Trends report, the only hotel commerce data analysis of more than 35,000 hotels and 450+ connected booking integrations, has revealed travellers booked their trips on average eight days earlier, and cancelled their bookings 17% less year-on-year in 2022, despite a 24% increase in the average daily hotel room rate.

Average Length of Stay 52

Average Length of Stay Average Daily Rate Travel Global Distribution System 52

Cloudbeds

APRIL 24, 2023

At the same time, however, it has increased the exposure of lodging operators to a growing problem: credit card fraud. For owners and operators of independent lodging businesses, credit card fraud is not only time-consuming and costly, but it can also damage traveler trust, guest loyalty , and online reputation.

Hotels 92

Hotels Cancellation Operations Consumer 92

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

eZee Absolute

OCTOBER 16, 2023

Challenges Faced by the Property Operating in a traditional manner, Beach Street Eco Resort & Spa faced its fair share of obstacles that hindered growth as well as guest experience. This not only made day-to-day operations more complicated and time-consuming but also restricted the resort’s capacity to expand its business.

Resorts 52

Resorts Tourism Fair Share Operations 52

Hotelogix

OCTOBER 18, 2023

It's a comprehensive solution that empowers your hotel to optimize operations, deliver exceptional guest experiences, and thrive in a competitive industry.  👉At its core, a Hotel Reservation System centralizes and automates the booking process, simplifying guest interactions and hotel operations. 

Business 40

Business Global Distribution System Cancellation Hotels 40

A Sales Guy

AUGUST 23, 2013

Unfortunately, the client had to cancel after I booked my flight. I had no other business in San Francisco at the time, so I needed to cancel the flight. I’m planning a trip to Boston, so I decide to use my canceled ticket. Operating a sustainable business is the goal of all businesses,and that means delivering a profit.

Cancellation 118

Cancellation Revenue Services Business 118

SiteMinder

MARCH 13, 2024

Given the online travel industry generated revenue worth $667.55 However, unique channels like Airbnb, Mr and Mrs Smith , or Lastminute.com can also provide strong reservation and revenue opportunities. It’s also equipped with a mobile app so operators can manage their reservations anywhere, anytime.

Hotels 78

Hotels Accommodation Global Distribution System Travel 78

Cloudbeds

JANUARY 10, 2024

In pursuit of cost savings, many lodging businesses opt for a local payment solution that lacks integration, which can look good upfront but ultimately leads to costly errors, a poor guest experience, and lost revenue down the road. More revenue. They might undercharge guests or receive payment disputes, chargebacks , and related fees.

Motels 52

Motels Hotels Cancellation Operations 52