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Last-minute bookings rising : Booking Holdings and Hyatt both report shorter stays and more last-minute reservations, complicating yieldmanagement and pricing strategies. Lower-income households scaling back : Bank of America data shows the sharpest decline in travel spending among lower-income Americans.
When travelers book through your website, they can make changes or cancel directly with your property, giving them peace of mind. As a lodging operator, you can implement deposit and cancellation policies as a safeguard in case of no-shows. Manage rates and availability in real-time.
This means that, in case of cancellation, no commission is due to Google. “What became clear as the COVID crisis unfolded,” Michael Trauttmansdorff, Google’s Group Product Manager for Travel Ads, stated, “was that cancellations especially were a major factor.
What is YieldManagement and Why It Matters for Hoteliers Yieldmanagement is a core revenue strategy in hospitality that enables hotels to adjust room rates based on real-time demand, booking pace, and occupancy forecasts. Yieldmanagement ensures you're not leaving money on the table.
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