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For years, the gold standard guiding business strategies for hotels has relied heavily on historical data, analyzed a few times a year (at best), making it difficult to swiftly respond to changing market conditions. For hotels, this includes making dynamic rate suggestions and identifying segments and offers for marketing campaigns.
According to recent Accenture research, 84% of travel executives say AI is the key to achieving their growth targets demonstrating that AI-driven channel strategies are no longer optional; they’re absolutely mission-critical for driving hotel revenue. As a result, marketing messages become more relevant, personalized, and timely.
Demand forecasting, rate negotiations, inventory management – stay with us – competitor analysis and pricing strategy can leave even the most seasoned hotelier feeling a little fatigued. It’s a more holistic approach that captures more touchpoints like upselling – pre-stay and at your property – and F&B.
By shifting the focus from purely "renting out meeting rooms" to attracting the maximum number of delegates and maximizing the spend per delegate , hotels gain a deeper understanding of their true revenue-generating potential. Sales : Converts high-potential leads into booked events and upsells delegates on premium offerings.
And hotels and resorts have definitely caught on to this, offering tons of discounts to get people to book. Especially for luxury and boutique hotels, people are often more interested in getting something extra than just a lower price due to the perception of greater value. Okay, so we all love a good deal, right?
But luckily, there is a solution: Single-solution platforms that consolidate all essential hotel management tools into one complete system. The Power of Single-Solution Platforms Single-solution platforms integrate key hotel functions into one user-friendly system. Identify upselling opportunities to boost revenue.
Upsell solutions offer more than just extra revenue; they streamline hotel operations by using real-time data to optimize staffing, forecasting, and resource allocation. Enhancing Guest Engagement and Revenue with Smart The post Beyond Revenue: How Smart Upsell Solutions Improve Hotel Efficiency appeared first on Revfine.com.
One of the main challenges for hotels is creating accurate forecasts in the short, medium, and long term. 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. But traditional forecasting models no longer cut it.
Hotel distribution today is a different game. The New Age of Hotel Distribution 2. Move Beyond Syncing, Start Scaling 1) The New Age of Hotel Distribution The hotel distribution landscape has changed. Its not just about where youre listed, its about how well you manage, price, and promote across every touchpoint.
What is a hotel commercial strategy? A hotel commercial strategy is a coordinated business approach that integrates sales, marketing, revenue management and distribution efforts to maximise total hotel revenue. It aims to drive profitability and improve competitiveness in the market for a hotel business.
Hotel management system provider RoomRaccoon has unveiled its annual global report, RoomRaccoon Report 2022, “A Year of Impact: What’s Next?” Hotels are generating better revenue. The post Report: Independent hotels see record-breaking occupancy appeared first on hotelbusiness.com.
Key takeaways AI is ubiquitous: AI is now integrated across nearly all hotel tech categories, powering personalization, upselling, and predictive analytics. Marketplaces and alternative distribution rise: A new âMarketplaceâ section underscores the shift beyond OTAs, with hotels diversifying distribution through emerging platforms.
Data analytics in the hospitality industry is already guiding hotels in making smarter, faster decisions. In this article, we explore how data analytics and AI are reshaping decision-making in the hospitality industry, with practical applications in hotel operations, marketing, and guest experience. Have you heard the news?
Data analytics in the hospitality industry is already guiding hotels in making smarter, faster decisions. In this article, we explore how data analytics and AI are reshaping decision-making in the hospitality industry, with practical applications in hotel operations, marketing, and guest experience. Have you heard the news?
Let’s be honestrunning a hotel while managing its revenue at the same time is a balancing act. So, let’s provide you with a list of revenue management tools to simplify managing your hotel so much easier: What are Revenue Management Tools? Proven results: Hotels working with Xotels have seen ADR increases of 10-25%.
Setting the right price for your hotel rooms is crucial for driving revenue and maximizing profitability. However, there are many factors that can influence your hotel’s pricing strategies. What is Hotel room pricing? What is Hotel room pricing? Hotel room pricing is a critical element of revenue management for hotels.
Demand forecasting, rate negotiations, inventory management – stay with us – competitor analysis and pricing strategy can leave even the most seasoned hotelier feeling a little fatigued. It’s a more holistic approach that captures more touchpoints like upselling – pre-stay and at your property – and F&B.
All devices are connected to Anacoveâs AI-powered cloud system, which treats the hotel as a unified ecosystemâ delivering automated reports and actionable insights that show clear ROI and support smarter operations. The integration is being demonstrated at LG Booth 3805 at HITEC 2025.
Here are 8 smart pricing strategies for hotels to boost revenue and drive more bookings during the holiday season The holiday season marks a period of increased travel, festive cheer, and heightened demand in the hospitality industry. Let’s explore some tips to maximize your hotel’s profitability during this festive period.
Hospitality.today⢠Topics Subscribe Topics ⺠Hospitality ⺠Guest Experience Airbnb expands its reachâwill hotels keep up? While some hotel executives appear unfazed, seeing operational challenges in Airbnbâs model, others warn the hospitality industry risks missing out on loyalty-building and ancillary revenue opportunities.
Picture a system that displays your hotel's current status and forecasts its future. This is what hotel business intelligence software accomplishes. This guide will explore how hotel business intelligence operates, why it matters, and how it can boost your hotel management. Here are some examples.
Let’s delve into some of the key trends shaping the future of revenue management in the hotel industry: 1. Interactive dashboards and visual representations make it easier for revenue managers to make data-driven decisions, identifying revenue trends, tracking performance metrics, and accurately forecasting future demand.
Real-Time Reporting & Forecasting: Access performance metrics and demand forecasts up to 365 days out. âWhat truly makes Gametime stand out is its ability to meet the specific needs of limited-service hotels while aligning seamlessly with our overall revenue management strategy. GameTime is already in use.
For hotels, the ultimate aim of yield management is to increase revenue by leveraging the balance between supply (available rooms) and demand (guest bookings). By understanding and anticipating guest behaviour and market dynamics, hotels can optimise their pricing strategies to boost their bottom line.
Revenue optimization in hotels is a comprehensive strategy that accounts for all revenue streams and uses data to enhance the overall revenue performance of the business. It’s a holistic process that hotels can use to effectively manage pricing, inventory, distribution, customer demand, and more to promote revenue growth.
What is hotel revenue management? Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. Other products such as hotel amenities and food and beverage offerings will also form part of the strategy.
The portfolio of solutions provides full-service, mid-scale, and limited-service hotels a range of connectivity options for delivering customized guest Wi-Fi experiences that meet the unique demands of each market segmentâfrom luxury to budget hotels.
In the hotel business, repeat guests are gold. That’s why loyalty programs have become a cornerstone strategy for independent hotels, boutique properties , and growing chains alike. According to a Cornell University study, hotel guests enrolled in a loyalty program increased their booking frequency by over 50%.
Introduction: The Hotelier’s Dilemma Imagine this: It’s the busiest night of the year at your hotel. With the increasing complexity of hotel operations , having a centralized system that automates reservations, housekeeping updates, and billing processes can make all the difference. Manual processes lead to costly errors.
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What is hotel ROI? Hotel ROI means return on investment, which evaluates how much money you are getting out compared to what you put in. What is a good return on investment for a hotel? Average return on hotel investment It’s agreed upon within the industry that 6-12% is a reasonable return on hotel investment.
âhotels can now offer the speed, personalization, and polish of enterprise-scale operationsâon their own terms.â As guest expectations rise and staffing challenges persist, this collaboration empowers hotels using the Visual Matrix PMS, a premium, high-touch service without expanding their teams.
This makes it particularly relevant for businesses like hotels (but also restaurants, casinos, or airlines), which often face high rent expenses. In this article, we break down this key metric for hotels, providing tips to improve profitability and how technology can simplify reporting. Rent costs. Restructuring costs. in H1 2023.
We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.
F&B is increasingly a cost centre for hotels, steadily losing profitability since 2018. Operating with increasingly tight margins, many hotels can no longer support loss-making business units, yet F&B remains a pivotal service for the industry. The current market conditions for hotel F&B are exceptionally challenging.
What is a hotel reservations manager? A hotel reservations manager oversees the entire booking process at a hotel. Their job is to ensure accuracy, efficiency, and a smooth experience for guestsall while complying with hotel policies and procedures. For hotel owners, the value of this role goes beyond daily operations.
This is as critical for the modern generation of residents and guests, as white glove service was for prior generations.â The new release introduces an easy-to-use single-pane-of-glass style portal, which makes the entire platform intuitive and usable by non-specialist hotel employees.
In the fast-paced world of hospitality, staying informed about industry trends, innovations, and best practices is crucial for hotel professionals. The podcast takes listeners through case studies of beautifully designed hotels, sharing insights from architects, interior designers, and brand leaders.
â 6/15/2025 HITEC 2025: UrVenue Launches UrResort UrVenue launches UrResort , its newest product developed in response to the growing demand from hotels and resorts for a more tailored solution. This includes brand.com websites, loyalty apps, and mobile platforms â something large hotel groups have traditionally lacked.
Moreover, a hotel room can’t be returned if it doesn’t meet expectations. Here we share strategies and best practices for capturing more bookings through hotel eCommerce. What is hotel eCommerce? In the hotel industry, eCommerce refers to the buying and selling of accommodation and related services over the internet.
In hospitality, every dollar earned reflects smart planning, sharp forecasting, and responsive pricing, all driven by the Hotel Revenue Manager. 2) Booking Engine Your hotel website should be your most profitable channel. Revenue is never accidental. Why Is the Revenue Manager So Important? Click here to learn more.
Are you ready to transform your hotel operations and stay ahead in this competitive marketplace? The Shifting Landscape of Indian Hospitality in 2025 The Indian hotel industry is experiencing unprecedented growth, with more than 100,000 new rooms expected to be added by 2029, surpassing the 300,000-room mark.
Revenue management is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. However, an often overlooked element in this equation is the role of hotel reception staff.
Moving from merely managing hotel revenue to maximizing profit is a critical transformation that ensures your property's long-term success. Here's a detailed guide on transforming your hotel's revenue management to focus on profit maximization. Train your staff to identify and capitalize on upselling opportunities.
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