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For example, Cloudbeds Intelligence analyzes billions of future-looking data points, including competitor rates, events, holidays, and search information, combined with a property’s own data to understand how every combination impacts profit. Why it’s important for hotels? Why it’s important for hotels?
The right sales tactics can help increase revenue, boost occupancy rates , and ensure guests have a positive experience. A loyalty program can encourage guests to keep coming back, which boosts your occupancy rate. In the competitive world of hospitality, having a strong sales strategy is key to ensuring your hotel's success.
This collaboration enables hotels using Infor HMS to drive incremental revenue and elevate guest personalization by seamlessly integrating Plusgradeâs proven upsell technology into the core guest journey. Hotels face growing pressure to do more with lessâdelivering tailored guest experiences while improving margins.
Dynamic Pricing : Real-Time Revenue Optimization Channel Managers like STAAH enable rule-based pricing automation , adjusting your rates based on demand, occupancy, and even competitor pricing. A drop below 30% occupancy? Your rates drop automatically to drive last-minute bookings, across all OTAs. No more repetition. Just results.
Calculating EBITDAR: Step-by-step Lets take the example of a hotel that last year generated total revenue (from rooms, F&B, events, and other ancillary sources) of $4,500,000. F&B or events), tap into new market segments such as corporate or family groups, and implement upselling/cross-selling.
This enables instant alerts on drops in conversion rates, underperforming channels, or missed upsell opportunities. This leads to better resource allocation and more accurate forecasts for demand, occupancy, and staffing. sending arrival instructions two days prior to check-in) Booking channel (e.g.,
This enables instant alerts on drops in conversion rates, underperforming channels, or missed upsell opportunities. This leads to better resource allocation and more accurate forecasts for demand, occupancy, and staffing. sending arrival instructions two days prior to check-in) Booking channel (e.g.,
Occupancy confusion: Without a clear system, it’s challenging to track room availability and occupancy rates accurately. Missed upselling opportunities: A disorganized booking system makes it harder to identify chances for room upgrades or additional services.
Group Itinerary Builder â Designed to enhance group travel and events, this module allows attendees to explore resort experiences and manage their event schedules through an interactive, personalized guest portal. Anacoveâs integrations include: Smart Thermostats that go far beyond basic climate control.
âLong form editorial content is the perfect match for a relaxed, affluent traveler looking to enhance their day with in-depth coverage of current events, or to spend quality time indulging their passions, be it art, architecture, business, or any of the many special interest magazines offered by ZINIO. waking hours in the hotel room.
Through a seamless data exchange from Cloudbeds to STR, users will be able to track trends in occupancy, average daily rate (ADR), revenue per available room (RevPAR), and other essential metrics directly within their STR dashboard, facilitating data-driven decision-making.
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This new integration allows hotels to leverage real-time occupancy data to automate and personalize direct booking campaigns. Optimized Marketing Spend: Hotels will be able to focus on periods of lower occupancy, efficiently allocating their marketing resources.
Revenue management tools are software and systems that help hotels optimize pricing, control cost , maximize occupancy, and increase profitability. It monitors guest reservations, room occupancy, and overall performance metrics. Automated Upselling & Ancillary Revenue Tools Have no clue on how to make extra revenue for your hotel?
Double bookings , incorrect charges, and missed upsell opportunities can result in revenue loss and negative guest reviews. By tracking occupancy trends, revenue forecasts, and guest preferences, hotels can fine-tune their marketing strategies and improve personalized guest experiences. Manual processes lead to costly errors.
These devices use advanced sensors and AI to monitor temperature, humidity, air quality, light, barometric pressure, and occupancy â including pets or sleeping guests. Anacoveâs integrations include: Smart Thermostats that go far beyond basic climate control.
These devices use advanced sensors and AI to monitor temperature, humidity, air quality, light, barometric pressure, and occupancy â including pets or sleeping guests. Anacoveâs integrations include: Smart Thermostats that go far beyond basic climate control.
For example: During a major conference or event, AI algorithms might predict higher-than-average demand and raise room rates accordingly. Conversely, during low-occupancy periods, prices can be lowered to attract more bookings while still maintaining profitability.
Energy & Guest Room Management- Advanced smart devices such as thermostats, lighting and occupancy sensors ensure that hoteliers can automatically minimize utility costs while maintaining a welcoming guestroom environment that can be seamlessly personalized to individual preferences.
These devices use advanced sensors and AI to monitor temperature, humidity, air quality, light, barometric pressure, and occupancy â including pets or sleeping guests. The solutions leading AI merchandising capabilities have also been embedded directly into OPERA Cloudâs check-in path, resulting in an uplift of 20% in upsell revenue.
This new integration allows hotels to leverage real-time occupancy data to automate and personalize direct booking campaigns. Optimized Marketing Spend: Hotels will be able to focus on periods of lower occupancy, efficiently allocating their marketing resources.
Upselling amenities and services If a traveler enquires about family-friendly room options, the AI can combine visual and contextual data (e.g., Improving event planning Multimodal AI can review images or videos of layouts from past events alongside guest feedback to identify what worked best.
To meet with Sojern during the event, book a meeting. Based on insights from 44,000 hotels and 35 million short-term rental properties, Demand360 provides a 12-month, forward-looking view of a hotelâs occupancy and its market ranking as well as two years of retrospective data.
Based on insights from 44,000 hotels and 35 million short-term rental properties, Demand360 provides a 12-month, forward-looking view of a hotelâs occupancy and its market ranking as well as two years of retrospective data. To meet with Sojern during the event, book a meeting.
Turn Local Culture Into a Magnet for Guests Your location is your biggest selling point, and it's a fantastic opportunity to integrate hotel upsell deals naturally into your offerings. Highlight local happenings : Keep your guests in the loop about area events. Partner with Local Agents Remember travel agents!
For example, during peak travel periods, an efficient reservations manager using a modern property management system (PMS) can swiftly allocate room blocks for group bookings or special events, maximising occupancy without overbooking. Efficiently managing OTAs and direct bookings is key to maintaining high occupancy rates.
Available for sign-up today, the portal unlocks a new hotel revenue stream through WiFi upsell opportunities while eliminating loyalty enrollment requirements for any hotels leveraging the platform. The company also unveiled Wyndham Gateway, a new guest WiFi portal that provides a consistent, centralized login experience.
Later this year, brands will also gain AI-powered tools like chatbots for data insights for loyalty, ordering, and developer support, personalized upselling and offers, plus new app-less loyalty and payment features, including wallet passes, QR codes, and auto-reloading gift cards.
For hoteliers, this translates to more room-nights, improved occupancy during off-peak periods, and reduced reliance on OTAs. Simplifies Targeted Marketing and Upselling Loyalty program data helps you segment your audience effectively—by stay frequency, spend level, preferences, and location.
Later this year, brands will also gain AI-powered tools like chatbots for data insights for loyalty, ordering, and developer support, personalized upselling and offers, plus new app-less loyalty and payment features, including wallet passes, QR codes, and auto-reloading gift cards.
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An effective strategy that can help is to upsell additional services or products relevant to customers. Therefore, upselling in hotels is not only influential but cost-efficient as well. What is Upselling? Upselling is a sales strategy that offers consumers additional services or add-ons to increase revenue.
The figures from SiteMinder also reveal the great anticipation which has built up around the total solar eclipse event, with the lead time on hotel bookings in Buffalo increasing by 482.16% year-on-year, to more than 130 days. The post SiteMinder: Solar eclipse boosts occupancy across U.S. appeared first on hotelbusiness.com.
Hotel managers and revenue managers use data analysis and revenue management tools to determine the optimal price for each room based on various factors such as occupancy rates, booking trends, and competitor rates. On the contrary in low season, in order to ensure revenue, you can charge lower prices in order to increase occupancy.
Often, they are built around particular themes, such as the season, a local event, or a holiday (e.g. Booking promotions serve multiple strategic purposes: Increasing occupancy rates: Promotions can help fill rooms during low-demand periods and help a hotel “piggyback” on subjects that are already front of mind for their audience.
The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. Don’t forget to monitor external market sentiments such as cancellation of an event or reduction in connectivity to your destination – these could all result in cancellations. What is a hotel overbooking strategy?
This includes offering tailored packages, suggesting room upgrades, promoting in-house dining experiences, and even curating special entertainment events. Optimising Occupancy : Hotels have a fixed number of rooms, making it essential to ensure high occupancy rates. Our smart hotel platform helps you do exactly that.
While revenue management is more focused on a hotel’s pricing and availability to maximize revenue, revenue optimization takes a broader approach to include a full range of revenue sources that includes food and beverage, spa services, events, classes, and other ancillary revenues.
Promote and upsell activities easily with Little Hotelier Little Hotelier’s direct booking engine lets you sidestep OTA commission fees while increasing the value of every reservation. By upselling guests with paid activities as part of your custom booking process. Take a themed event or party as an example.
Discount pricing is a revenue management strategy where prices are lowered temporarily or for certain conditions to attract guests and boost occupancy rates. Offer lower rates for guests booking multiple rooms, ideal for group travellers or event attendees. Example: Festival special, book during the event and receive a 15% discount.
They would sell the same price to everyone and assume that 100% occupancy was the ultimate goal. They didn’t know who they were competing against nor did they have a list of events that could drive demand and ultimately increase profit. “Prior to working with RevenYou, we found that many owners used one price for 365 days.
There is no set formula to increase a hotel’s revenue, it can be achieved by creating a good promotion plan, tapping into sources of ancillary revenue , upselling and other marketing strategies. Ancillary services such as restaurants, spa treatments, meetings and event spaces can generate more profit for your hotel.
Understanding future demand trends, their causes, and the guest segments driving them can help hotel revenue managers adjust room rates to boost occupancy and sales. The bold line represents the average occupancy rate for the competitive set. Each point on the chart shows a specific day’s occupancy for the hotel.
Optimizing ancillary revenue streams: To diversify your revenue sources, consider enhancing offerings in food and beverage, spa services, and event hosting. Train your staff to identify and capitalize on upselling opportunities. Targeted marketing campaigns: Run campaigns during off-peak periods to boost occupancy.
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