STAAH

JANUARY 16, 2024

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.

Revenue 84

Revenue Ancillary Revenue Revenue Management Hotels 84

Cloudbeds

APRIL 8, 2024

Many hoteliers question if it’s worthwhile investing in a direct booking strategy or if they can solely rely on online travel agencies (OTAs) like Airbnb, Booking.com, or Trip.com to fill occupancy. Upsells and add-ons. Consider offering weeknight rates, promo codes for special events, or loyalty discounts for repeat customers.

OTA 98

OTA Upsell Average Length of Stay Revenue 98

Little Hotelier

NOVEMBER 6, 2023

Public holidays and popular local events will also affect how much you can charge per room. These might follow the four seasons of the year, or they could be defined by school holidays, festive seasons or major local events. Upselling and cross-selling Grab upselling and cross-selling opportunities with both hands.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Little Hotelier

OCTOBER 17, 2023

Connect additional channels If you find on some days or weeks your occupancy is lower than you’d like, and not enough revenue is coming in as a result, you may not be reaching a big enough audience. Use your front desk or other designated areas to take advantage of point-of-sale opportunities such as car rental or tickets to events and tours.

Revenue 100

Revenue Hotels OTA Ancillary Revenue 100

SiteMinder

FEBRUARY 29, 2024

Upselling and cross-selling : Techniques to promote hotel services and amenities, contributing to revenue growth. Banquets and events Event planning and coordination : Covering the basics of event management, from planning to execution, ensuring every detail is considered.

Hospitality 52

Hospitality Services Hotels Events 52

Amadeus Hospitality

AUGUST 24, 2023

The latest data from Amadeus’ Demand36 0® reflects this, with on-the-books global hotel occupancy rates for H1 2023 trending above 2022 and 2021 levels, and just 3 points behind those seen in 2019. Our new report, Catalysts for Change: Building the Hospitality Ecosystem of the Future finds that travel is on the upswing.

Travel 52

Travel Average Daily Rate Marketing Strategy Occupancy 52

Cloudbeds

MARCH 15, 2023

A direct booking strategy is a powerful force in reducing customer acquisition costs , increasing occupancy, and improving profitability by building greater brand loyalty and giving you direct access to guests. These types of promotions are great for when you need to fill occupancy fast and should not be used all the time.

OTA 98

OTA Revenue Hotels Travel 98

AskSuite

JULY 20, 2023

It begins with laying out realistic targets, then on-point upselling and cross-selling, culminating in the art of tailoring unique sales alternatives. Key strategies for upselling and cross-selling Upselling and cross-selling aren’t just about making quick sales, but rather enhancing the guest experience while maximizing profits.

Management 52

Management Business Upsell Marketing Strategy 52

Xotels

APRIL 3, 2024

Advance Sales: The hotel product, represented by rooms, can be sold in advance, enabling revenue managers to strategically plan and optimize occupancy levels over time. Revenue management strategies typically include decisions based on historical booking data, competitor pricing, seasonal trends, local events, and customer behaviour.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Inn Quest

JUNE 8, 2023

Here’s how it works: Sensors, cameras, and smart thermostats collect data about the room environment (temperature, humidity, lighting conditions, occupancy) which is sent for analysis. Through this method, AI can identify upselling opportunities by leveraging guest preferences and historical data.

Hospitality 54

Hospitality Upsell Services Operations 54

Hotel Speak

MAY 9, 2023

Here are a few examples: Better loyalty programs: by tracking guest activity and preferences, hotels can offer personalised rewards such as discounts, free room upgrades, or access to exclusive events. Upselling and cross-selling: track guest preferences and booking history, allowing hotels to offer personalised upsell and cross-sell offers.

Upsell 59

Upsell Hotels Revenue Operations 59

eZee Absolute

AUGUST 31, 2022

Host a special event. Offering discounts and packages quickly draw travelers into your hotel, intrigues them to make a reservation, and help you boost occupancy. Host a special event. Events are one of those special things that people usually look for when they explore hotels and gateways. Decide what strategy to use.

Hotels 52

Hotels Events Travel Market 52

SiteMinder

JANUARY 8, 2024

The entertainment businesses can include attractions of special interest such as zoos and museums, or spectator events such as theatre performances or sports games. Promotions are special rates that can change depending on: – The season or holiday period; – If the guest is a VIP; or, – You want to capitalise on an event. –

Operations 59

Operations Management OTA Hotels 59

Cloudbeds

FEBRUARY 28, 2024

When travelers book on your website, you can upsell them to premium rooms and cross-sell onsite services and add-ons like breakfast, dining, spa, and recreation. This will help you increase occupancy, maintain rate parity, and prevent pricing errors, overbookings, and lost sales. Many third-party sites don’t offer this flexibility.

Revenue Management 98

Revenue Management Revenue Hotels Operations 98

SiteMinder

JANUARY 8, 2024

The entertainment businesses can include attractions of special interest such as zoos and museums, or spectator events such as theatre performances or sports games. Promotions are special rates that can change depending on: – The season or holiday period; – If the guest is a VIP; or, – You want to capitalise on an event. –

Operations 52

Operations Management OTA Hotels 52

Clock Software Hospitality

NOVEMBER 3, 2020

Manage Room Inventory Your hotel’s occupancy is the main metric by which you judge how well your business is doing at the moment. Having complete control over occupancy 24/7 will certainly cut down on the manpower it takes to keep inventory in order and prevent unwanted overbookings.

Hospitality 52

Hospitality OTA Revenue Management Hotels 52

Cloudbeds

MARCH 3, 2023

Upselling opportunities. Upsells represent a $28 billion opportunity for properties and are becoming an increasingly important part of a hotel’s revenue management strategy. POS systems help improve safety by encrypting payment data and recording every transaction, which can be helpful in the event of theft or fraud.

Sales 98

Sales Hotels Revenue Revenue Management 98

SiteMinder

FEBRUARY 14, 2024

Increased revenue opportunities Trends towards personalised travel experiences open avenues for upselling tailored services, from customised room settings to bespoke tour packages, directly impacting revenue.

Tourism 59

Tourism Market Marketing Travel 59

Social Tables

SEPTEMBER 22, 2017

Improving Occupancy Rates Using Big Data for Hotels. Email marketing, hotel productivity, and upselling are some of many ways to use this data. If a hotel knows that most people come to it because of its location as opposed to its amenities, they can heavily market that feature to maximize their appeal.

Upsell 68

Upsell Cancellation Hotels Email Marketing 68

Cloudbeds

FEBRUARY 15, 2023

For example, GAC is typically higher in low seasons when room rates and occupancy are lower, and lodging properties spend more on marketing campaigns. Another major source of costs is marketing spending, which may include advertising, email marketing, promotions, social media, sponsorship, events, and public relations.

OTA 52

OTA Cost Per Click Revenue Market 52

Catala Consulting

OCTOBER 5, 2022

The goal of every hotel owner is to attract customers (both new and old) to their property because it increases the occupancy rate and the hotel’s revenue. Embrace special events: During festive periods and special events, people from all over the world usually travel to celebrate with friends and family.

Hotels 52

Hotels Business Market Marketing 52

STAAH

MAY 16, 2023

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.

Revenue Management 85

Revenue Management Upsell Occupancy Rack Rate 85

Cloudbeds

JULY 15, 2023

This leads to higher occupancy, especially in times of low demand when it’s needed the most. With pooled inventory, advanced rates with discounts or non-refundable rates, and upsell integrations, hotels optimize revenue management with smart pricing strategies. What’s allotment ? What’s a closeout? What’s iCal?

Management 76

Management OTA Cancellation Overbooking 76

eZee Absolute

MAY 7, 2024

Targeted Promotions and Upselling: Imagine offering a honeymoon package to a couple celebrating their anniversary, or suggesting spa treatments to guests who’ve indicated an interest in wellness. By leveraging guest data, you can personalize your promotions and upselling opportunities, making them more relevant and enticing.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

Cloudbeds

JUNE 8, 2023

From increasing occupancy to generating direct bookings and increasing ADR, lodging operators have a lot on their plate. At full occupancy , that’s $6,375 in potential revenue each day. At its average occupancy rate of 72%, the average revenue per night is $4,590. Say your run a 15-room luxury inn nestled in the foothills.

Management 98

Management Hotels Revenue Digital Marketing 98

Inn Quest

MAY 11, 2023

By drawing in more visitors, raising occupancy rates and enhancing profitability, a thoughtful pricing strategy can help hotels maximize their revenue. Even if occupancy rates do not rise, this can help hotels raise their profit margins. A Rise in Profitability: Effective pricing strategies can also boost a hotel’s profitability.

Revenue 88

Revenue Occupancy Hotels Market 88

SiteMinder

AUGUST 30, 2023

Here’s why they’re beneficial: Revenue diversification Hotel packages allow you to diversify your revenue streams by upselling various services and amenities. Increased occupancy Strategically designed packages can help fill rooms during off-peak seasons or weekdays.

Hotels 98

Hotels Revenue Services Business 98

Xotels

APRIL 3, 2024

For analysing market situations, the demand calendar includes key indicators such as RevPAR (Revenue Per Available Room) and demand levels from the previous year, along with factors like groups or events, bank holidays, school holidays, and exceptional demand indicators for the current year.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Social Tables

DECEMBER 27, 2018

What does it mean to be a part of the events industry in 2019? For venues and planners, that means looking into the crystal ball to get ahead of event trends and expectations. Here, we cover the top 19 trends which promise to shake up event planning and hospitality in 2019 and beyond. Well for starters, don’t blink.

Events 167

Events Business Scale Consumer 167

STAAH

NOVEMBER 22, 2022

In a hotelier’s case or any accommodation provider, selling rooms is the main product to reach full occupancy. There are plenty of upselling tools available. Make sure to make the most during peak seasons, local events, holiday seasons, etc. Offering last-minute deals, add ons or upgrades is a great way to drive revenue.

Hotel Marketing 73

Hotel Marketing Market Marketing Hotels 73

SiteMinder

OCTOBER 10, 2023

To effectively interpret these reports, follow these steps: start by identifying the key metrics that align with your hotel’s goals, such as occupancy rates, average daily rates (ADR), and revenue per available room (RevPAR). What sets UpStay apart is its unique approach to upselling.

Hotels 52

Hotels Upsell Management Travel 52