Remove Consumer Remove OTA Remove Yield Management
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Top 10 Revenue Management Tools: The Ultimate Revenue Toolkit

Xotels

Luckily, from our experience as a revenue management consulting company, we’ve learned many tools that will simplify your life, help cut-out time-consuming tasks, and also enable you to open new streams of revenue! Guest actions Who makes direct bookings versus through OTAs, and how can you influence them?

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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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Silavadee Pool Spa Resort Samui increases bookings by 60% with SiteMinder’s platform

SiteMinder

Silavadee Pool Spa Resort emphasises that “since implementing SiteMinder, we have experienced a significant increase in online bookings, up to 60%, through effective yield management strategies based on market trends. Previously, the resort handled all tasks manually, which was time-consuming.

Resorts 98
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Marketing for Hospitality and Tourism – Your 2024 Guide

MediaBoom

Unsurprisingly, 97 percent of today’s consumers report learning about local businesses online. Your content should be quickly and voraciously consumed by your audience, leaving them wanting more. Alternatively, you might try yield management, which is also flexible. It’s called being chronically online. trillion in 2024.

Tourism 105
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A history lesson in revenue management and the top challenge facing today’s hotels

SiteMinder

The exact genesis of yield management (now revenue management) in the hospitality sector is hotly debated,” says Stuart-Hill. Fast forward to 2020, the “Great Reset” prompted by the pandemic rapidly changed how consumers and businesses embraced technology.

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

Cloudbeds

The information is then populated into the PMS and distributed to the hotel’s booking channels with the help of channel management software. These channels may include the hotel’s website booking engine, online travel agencies (OTAs), the global distribution system (GDS), wholesalers, and metasearch sites.

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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.