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The 15 Biggest Revenue Management Myths & Misconceptions

Xotels

There are plenty of low-cost revenue management tools that get the job done if you know how to use them. When done right, it covers cancellations and no-shows without turning away actual guests. All in all, one of the most powerful tactics in revenue management you can play with. Even the best operators hit blind spots.

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America hits the brakes on travel

Hospitality Today

Last-minute bookings rising : Booking Holdings and Hyatt both report shorter stays and more last-minute reservations, complicating yield management and pricing strategies. Vacation “trade-down” trend : Travelers aren’t cancelling vacations but opting for closer, shorter, and cheaper alternatives like road trips and campgrounds.

Travel 40
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What is Yield Management: Guide for Hotels

SiteMinder

What is Yield Management? Yield management is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. A similar principle can apply to distribution.

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What is a hotel reservation system and why is it important?

Cloudbeds

We’ll also show you how to harness this powerful technology to capture more reservations, streamline booking processes, save time and costs, and increase guest satisfaction – whether you operate a hotel, hostel, motel, B&B, or vacation rental company. Manage rates and availability in real-time. What is a hotel reservation system?

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What is a channel manager? All you need to know

Cloudbeds

And even then, manually-managed distribution is risky: any delays in updating rates and availability on a channel’s extranet could mean selling a room that isn’t available or selling at a lower rate, which can lead to overbooking and sub-optimal yield management. The same happens with a cancellation.

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Hotel Revenue Management Strategies

Xotels

Key factors considered in market segmentation include length of stay , day-of-week stays, total revenue per room , total revenue per client, booking lead time, cancellation percentage, and no-show ratio. Each hotel must customise its segmentation strategy based on its market, property, and revenue management goals.

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Mastering The Art of Resort Revenue Management

Catala Consulting

Resort revenue management has become an indispensable tool for businesses, fostering strategies that maximize yield and build strong customer relationships. The Cornerstones of Resort Revenue Management Resort revenue management , interchangeably used with yield management, revolves around a strategic pricing approach.