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An overwhelming majority (95%) of travelers say personalized offers or recommendations based on their interests would make them more likely to book a stay at an independent hotel, according to TakeUp ‘s “ The Voice of the Boutique Travel Guest 2025 ” report.
If there’s a sudden change, for example, an influx of last-minute bookings hits the system, the platform can enable revenuemanagers to adjust room rates dynamically to maximize revenue. Why it’s important for hotels? Traditional analysis, however, has limitations, as it tends to correlate single factors in isolation.
With a data-driven approach and AI-powered tools like eZee Mint AI , you can still maximize occupancy, increase revenue per room , and turn last-minute demand into profits. Dont Let Last-Minute Pricing Cost You Profits Ed Sheerans fanbase is diverse, from students and backpackers to luxury travelers. But you have to act fast.
“Over the years, we evolved from serving only hotels to serving home-stay properties and multi-national chains, so the system has to also change to adapt to how the market is today, and it needs to behave in a fair way both for the accommodation and the traveller.” Do stricter cancellation policies impact revenue? It depends.
Tryp.com is an online travel marketplace that bundles flights, accommodation and experiences into value-driven packages curated by AI. Travellers pick a theme, such as “beach escape” or “digital nomad city break”, and the site returns ready-made itineraries that can be booked in a few clicks. What is Tryp.com?
Bidding platforms give you a quiet back door to move those vacant rooms, protecting the rates guests see on OTAs while topping up revenue that would otherwise slip away. Load a hidden minimum rate on a bidding site and give budget-minded travellers a compelling reason to book, without touching your public BAR.
Extended stays are transforming the way that travellers and travel companies view the hospitality landscape. With remote work here to stay for many, corporate relocations surging, and travellers seeking more flexible accommodation arrangements, demand for stays lasting 30+ days is growing. Are they big enough?
As you might expect, rate parity is highly beneficial to online travel agents (OTAs) that have access to a vast number of travellers and charge commission rates to property owners/operators. Inconsistency in room rates also leads to overbookings, which is a customer service nightmare for any travel brand.
A year ago, Accentureâs Consumer Pulse Survey found that travelers felt booking a hotel was harder than buying a car and that choosing a flight was almost as hard as choosing a mortgage. Gen AI provides an opportunity for the travel industry to reimagine the discovery and purchasing process for travelers. Travelers are 1.3x
RaccoonRev Plus is engineered to bridge the gap between basic rule-based pricing and the full complexity of traditional RevenueManagement Systems (RMS). Looking beyond revenue, van Dyl sees this as the first step in RoomRaccoons broader AI journey. âRevenuemanagement is just the beginning.
The travel and hospitality sector, in particular, has recalibrated its outlook for the year, with some global hotel brands lowering their RevPAR guidance as they navigate the current climate with a mix of caution and quiet confidence. And that was a direct impact of the Canadian traveller.”
Segmentation Criteria: Demographics : Age, nationality, travel purpose. Each system contributes unique insights that inform decisions across departments: Key Data Sources: Property Management Systems (PMS) occupancy rates, check-in/check-out patterns, room types booked. families, business travelers)?
As competition intensifies and travelers become more selective, data analytics in the hospitality industry and AI are no longer buzzwords, but operational imperatives. From revenuemanagement to communication, data-backed decisions are redefining how hotels operate daily. But analytics alone isn’t enough.
As competition intensifies and travelers become more selective, data analytics in the hospitality industry and AI are no longer buzzwords, but operational imperatives. From revenuemanagement to communication, data-backed decisions are redefining how hotels operate daily. But analytics alone isn’t enough.
“Over the years, we evolved from serving only hotels to serving home-stay properties and multi-national chains, so the system has to also change to adapt to how the market is today, and it needs to behave in a fair way both for the accommodation and the traveller.” Do stricter cancellation policies impact revenue? It depends.
55% abandon purchases, 50% switch brands, and 39% cancel subscriptions when confronted with digital issues. A year ago, Accentureâs Consumer Pulse Survey found that travelers felt booking a hotel was harder than buying a car and that choosing a flight was almost as hard as choosing a mortgage. They are the new mainstream.
This is a common payment option with corporate travellers and tour groups. Managing complex room invoicing scenarios Choose an invoicing tool that can handle situations like group stays, extended stays, cancellations, split payments and bundled services like packages or events.
According to a new survey commissioned by Mews , the industry-leading hospitality cloud, nearly 7 in 10 travelers (68%) now say theyll stay loyal to hotels that deliver standout, personalized experiences â leaving traditional, points-based rewards behind. âThe era of transactional loyalty is over,â says Richard Valtr, Founder of Mews.
But it points to a clear trend: todayâs cautious traveler often needs a little extra reassurance to move from intent to action â and small, well-timed nudges are helping hosts recover significant revenue. Pierre-Camille Hamana, CEO and Founder of Hospitable, said: âTodayâs travelers are hesitating at the final hurdle.
Alex, a current Duetto board member and most recently the CEO of ATPCO, brings deep expertise in scaling technology businesses across the travel and hospitality sectors. He was also the founder and CTO of Orbitz, where he played a pivotal role in reshaping the online travel booking experience.
But it points to a clear trend: todayâs cautious traveler often needs a little extra reassurance to move from intent to action â and small, well-timed nudges are helping hosts recover significant revenue. Pierre-Camille Hamana, CEO and Founder of Hospitable, said: âTodayâs travelers are hesitating at the final hurdle.
Like many other areas in travel and hospitality, revenuemanagement has dramatically changed in the last two years. We spoke to leading revenuemanagers on what they think lies ahead. These guests look to travel to bucket-list destinations and stay longer (who knows when the next virus will hit?!).
What is hotel revenuemanagement? Hotel revenuemanagement 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. What is the primary purpose of revenuemanagement?
We have written extensively about hotel revenuemanagement strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenuemanagement, we have made a summary of all the top advice from our perspective as a hotel revenuemanagement consulting company.
What is the Expedia cancellation policy? Expedia provides a cancellation policy that allows users to cancel or modify their reservations without any charges or penalties within the first 24 hours. Knowledge of Expedia’s refund policy is a crucial aspect of managing a small hotel business effectively.
Effectively plan and reach your business goals for 2024 with these smart revenuemanagement 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 revenuemanagement and distribution.
In the fiercely competitive hospitality industry, the essence of successful resort revenuemanagement lies in data-driven decision-making. This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Why is RevenueManagement Imperative for Resorts?
What is revenuemanagement software? Revenuemanagement software is a digital tool designed for the hospitality industry to optimise room rates based on predicted demand. It uses data analytics to forecast hotel room demand, allowing hoteliers to adjust prices accordingly to maximise revenue.
Well, the answer lies in how well you’re using your Hotel RevenueManagement System (RMS) reports. But with so many reports available, how do you find the ones essential for maximizing your hotel’s revenue? And you wonder what you must be doing wrong, right? RMS reports are like secret weapons for hoteliers.
Effectively plan and reach your business goals for 2024 with these smart revenuemanagement 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 revenuemanagement and distribution.
We have written extensively about hotel revenuemanagement strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenuemanagement, we have made a summary of all the top advice from our perspective as a hotel revenuemanagement consulting company.
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.
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 Yield Management? Yield management is a pricing and revenuemanagement 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. Revenuemanagement is the focal point for hotels in today’s climate.
Goodbye bland travel experiences. Modern travellers are redefining what hospitality looks like in 2023 and beyond. Hot off the press, Booking.com revealed what modern travellers are seeking – it’s not just another holiday. A large section of travellers are seeking to get away from the grips of technology and closer to nature.
Have you ever wondered how travel agents can instantly find the perfect hotel for a last-minute business trip or secure the best rates for a corporate client? The answer lies in the use by over 600,000 Travel Agents of one of the 4 Global Distribution Systems (GDS) – Sabre, Galileo, Amadeus or Worldspan. How Does GDS Work?
Renowned for its exceptional service standards, Sayaji Group of Hotels is a sophisticated collection of 15 individually designed hotels catering to both leisure and business travellers with stylish guest rooms and versatile meeting facilities across 11 Indian cities.
In today’s digital age, effective hotel distribution and pricing strategies are crucial for maximizing revenue and staying competitive. With the rise of online travel sales and the influence of e-commerce and review sites, accommodation providers must adapt to the evolving distribution landscape.
“It’s especially improved efficiency, since it allows us to manage four properties at once by eliminating manual updates.” “On On top of that, it enhances our revenuemanagement through dynamic pricing, optimising room rates based on demand, season, and events,” she continued. “It
Searching for demand patterns for your property is like traveling to the past and then going to the future to forecast how to set up your hotel for success. Instead of a time machine, you need data on your hotel’s booking performance from your property management system. And no, it’s not a “Back to the Future” movie scene.
What are travel statistics? Travel statistics refer to data and information related to various aspects of the travel industry, such as travel trends, traveller behaviour, tourism spending, accommodation metrics, and more. Some highlights include: Air travel passengers are expected to reach 9.4
They usually come with flexible booking and cancellation policies, allowing guests to make changes or cancel reservations without incurring significant penalties. Non-Refundable Rates: Non-refundable rates are typically lower than standard rates but come with stricter cancellation policies.
Commentators have been predicting this for a while, citing the comedown of post-Covid ‘revenge travel’ and inflationary pressures ( PwC ). Although global hotel revenue per available room (RevPAR) stayed high during the first half of 2024 – 13.2% Some travellers still see staying in self-contained accommodations as a safer option.
Googles Performance Max for Travel Goals offers an AI-powered solution that automates ad placement and spend, allowing hotels to compete with OTAs and drive more direct bookings. What is PMax for Travel Goals? This leaves hotels scrambling to keep up. Fortunately, theres a way to help level the playing field.
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