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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. Myth #5: “It causes overbooking and angry guests.”

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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.

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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

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.

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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. The graph considers cancellations and identifies peak or slow booking days.

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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. What’s allotment ?

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How Google Hotel Ads is Penetrating the Hotel Distribution Vertical, and the Opportunity this Presents for Hotels

Xotels

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.