This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
But luckily, there is a solution: Single-solution platforms that consolidate all essential hotel management tools into one complete system. Gone are the days of dealing with multiple systems for reservations, revenue management, and guest engagement. Another channel manager for distribution. Spreadsheets for revenue tracking.
Think revenue management is just for the big hotel chains or that it’s all about jacking up prices? Believe me when I say, as the COO of a revenue management consulting firm, that at least one of the below misconceptions is draining your hotel’s profits faster than a leaky faucet. Myth #10: “My gut feeling beats any system.”
With more channels, shifting guest expectations, and tighter margins, the Channel Manager is now central to commercial strategy. Its not just about where youre listed, its about how well you manage, price, and promote across every touchpoint. Rethinking the Role of a Channel Manager 3. Choosing and Managing Your Channel Mix 8.
Fewer errors, faster updates, more bookings—Jasmine City Hotel from Thailand loves the power of STAAH’s channel manager Located in the bustling heart of Bangkok, Jasmine City Hotel is a favourite for business and leisure travellers alike. Real-time control meets seamless simplicity The STAAH Channel Manager checked every box.
Let’s be honestrunning a hotel while managing its revenue at the same time is a balancing act. From making sure staff, guests, and smooth operations are all attended to, we can understand why revenue management so frequently gets put on the back burners. What Are Revenue Management Tools? Thats where outsourcing comes in.
Hoteliers must rise to these expectations while managing complex operations and staying ahead of the competition. A property management system (PMS) is the ultimate solution. What is Hotel Management Software? Hotel management software, or PMS, is a centralized system that automates operations and provides actionable insights.
Hotels can gain a serious edge by using tools that connect everything, like booking engines , channel managers, and dynamic pricing platforms. SiteMinder, for example, helps hotels manage their rates and availability across multiple channels at once. That’s where SiteMinder makes the difference. The result?
What is a hotel reservations manager? A hotel reservations manager oversees the entire booking process at a hotel. This includes handling inquiries, managing bookings, confirming reservations, and resolving issues or discrepancies. What does a hotel reservations manager do? What is the reservation department in a hotel?
👉 Read Also - Hotel Podcasts 2025: Learn From Industry Experts Why Technology is Your Greatest Ally Cloud-Based Property Management: The Foundation of Modern Hotel Operations If there were three words to sum up the ideal hotel operations strategy – Automate.
What is a hotel operations manager? A hotel operations manager is responsible for overseeing the day-to-day functions of a hotel, ensuring seamless coordination between departments, maintaining high service standards, and optimising overall efficiency. trillion in 2023, the demand for skilled operations managers has never been higher.
Overbooking is a common problem in the hospitality industry, causing major issues for both – hoteliers and guests. Striking the perfect balance between fully booked rooms and avoiding overbooking can be a challenging task. This is why our guide discusses how to avoid overbooking in hotels. Why Do Hotel Overbookings Happen?
One of the most powerful tools in their arsenal is a robust Revenue Management Solution (RMS). An RMS that can sync seamlessly with various channels allows hoteliers to update room rates and availability across all platforms simultaneously, minimizing the risk of overbooking and ensuring maximum exposure to potential guests.
Revenue management (RM) is supremely necessary for hotels. I kid you not, most of the hotels refrain from opting for any sort of revenue management services. The hotel revenue management myths that are swirling around are the real reasons hotels are so skeptical about it. Do not shy away from revenue management.
At a glance: What is Hotel Inventory Management? Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Firstly, What is Hotel Inventory Management? These are managed as inventory and must be scheduled and priced accordingly.
What is Yield Management? Yield management is a pricing and revenue management strategy that is used to maximise business performance. For hotels, the ultimate aim of yield management is to increase revenue by leveraging the balance between supply (available rooms) and demand (guest bookings).
Like many other areas in travel and hospitality, revenue management has dramatically changed in the last two years. We spoke to leading revenue managers on what they think lies ahead. Look beyond conventional methods of forecasting in light of demand and booking window volatility advises Shanta. Additional revenue streams.
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.
As we head into 2023, the hotel industry faces several challenges and changes that hotel managers need to be aware of to be successful. Hotel managers must get creative and think outside the box when creating new and exciting offerings for their guests. One way to do this is by incorporating new technologies and trends into your hotel.
What is hotel forecasting? Hotel forecasting is a method that is used to help managers determine their accommodation’s future demand and revenue performance. Whether you’re a seasoned hotelier or new to the industry, understanding the nuances of forecasting can be a game-changer for your business.
As unpredictable as it can be at times (especially through the COVID-19 pandemic), forecasting is still an important part of running a hotel and being able to make strategic revenue management decisions. What is hotel revenue forecasting? Why should your hotel use forecasting? Forecasting models to use at your property.
July 3, 2024— DerbySoft , specialists in high-performance distribution services, announced a new partnership with IDeaS , a SAS company, provider of hospitality revenue management software and services, that strategically provides operational and revenue-enhancing benefits for hotels of all types.
Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yield management in hotels, particularly in hotel revenue management. Furthermore, we will provide examples of successful yield management strategies and offer tips on how to implement them in your hotel.
Understanding different hospitality technology solutions and their roles – Hotel PMS You can call it a Hotel PMS, hotel property management system , hotel property management software, hotel management system, hotel management software, or hotel software. They lack integration capabilities.
In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. Resort revenue management has become an indispensable tool for businesses, fostering strategies that maximize yield and build strong customer relationships.
Revenue management is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. This blog post explores how hotel reception staff influence revenue management and why their role is pivotal in the overall financial health of a hotel.
Improved Inventory Management: Implementing seasonal pricing allows hotels to manage their inventory more efficiently. By accurately forecasting demand patterns, hoteliers can allocate the right number of rooms to each price tier. Book a demonstration of our award-winning hotel management software here.
A Hotel Property Management System (Hotel PMS) is software that helps hotels efficiently organize, schedule, and manage their daily operations. General Management: General Managers take care of the overall administration of a hotel. What is Hotel PMS? to make key business decisions.
Inventory distribution has never been easier, thanks to the hotel channel manager. Revenue Control Central Reservation System Drip Feed PCI DSS Certified Channel Insights Self-Mapping Stop Sell Limit Mobile App RateSTalk There are many reasons to love your channel manager. But are you making the most of this powerful technology?
It’s a holistic process that hotels can use to effectively manage pricing, inventory, distribution, customer demand, and more to promote revenue growth. Included in this will be key metrics, forecasting models, and trending insights. Included in this will be key metrics, forecasting models, and trending insights.
What is hotel rate management? Hotel rate management is the process of strategically pricing rooms to attract guests while also maximising revenue. Table of contents Why does hotel rate management matter? Mastering the art of rate management is crucial for thriving (not just surviving) in an ever-competitive hotel landscape.
Maestro PMS has formed an integration partnership with web-based sales and event management platform Tripleseat. Together, we are enabling group sales and catering teams to book, manage and plan guestroom blocks and share that information with Maestro PMS for fast and accurate booking and billing. Pickup updates occur in real-time.
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.
What is hotel inventory management? Hotel inventory management is the practice of ensuring your room inventory is sold efficiently and effectively for the best possible results. This means managing supply and demand to hit your desired occupancy rate while also maximising the revenue returns for your business.
IDeaS , a SAS company, has introduced Automated Configuration for its G3 revenue management system (RMS), decreasing the initial configuration of G3 from weeks to as little as one day, depending on client needs and requirements. It’s like having another revenue manager on the team, analyzing the data 24/7.”
Dynamic pricing, or yield management, involves adjusting room rates in real-time based on supply and demand, with the ultimate goal being to increase the Revenue Per Available Room ( RevPAR ). Channel Management Software will help manage room inventory across multiple online travel agencies (OTAs) and booking platforms.
AI-Powered Revenue Management Systems Artificial Intelligence (AI) has swiftly moved from being a futuristic concept to a tangible reality, revolutionizing industries across the globe—including hospitality. But before we get into the techie part, let’s understand what exactly hotel distribution is.
Furthermore, AI can facilitate predictive analytics to forecast demand patterns accurately, allowing hotels to allocate resources efficiently and optimize inventory management. This proactive approach minimizes the risk of overbooking or underutilization of rooms, ultimately improving revenue management and operational efficiency.
The Trip.com Extranet is an online platform that allows hotel owners and operators to manage their property listings on Trip.com. It provides tools for updating room availability , adjusting rates, adding property details, and managing bookings. What is the Trip.com Extranet?
Hotel sales software is a specialised tool designed for the hospitality industry to manage and optimise sales activities. The software supports various functions, including reservation management, rate setting, and sales forecasting, facilitating a more organised and strategic approach to selling rooms and services.
Optimized revenue management: Hotels can maximize their revenue potential by monetizing individual room attributes. By offering attributes as separate options, hotels can better manage their inventory and allocate resources more efficiently. Improved operational efficiency: Implementing ABS can also streamline hotel operations.
Managing daily hotel operations is undoubtedly a complex and stressful task. We are talking about the Hotel Property Management System, also called the Hotel PMS System. Other critical aspects are assigning housekeepers to maintain rooms, managing room-keeping schedules, and tracking inventory such as linen and cleaning supplies.
It's about exceeding them while efficiently managing your operations. Streamline operations with a cloud-based hotel property management system (PMS) Upgrading to a cloud-based Hotel PMS can significantly improve hotel operational efficiency. Read Also: Best Practices to Leverage Hotel Data for Efficient Hotel Operations 2.
Engage with market managers Your OTA partners will assign you market managers so that you can make the most of your investment. It refers to forecasting demand based on industry trends, current bookings, and past data. So, do your best research to partner with the right OTAs to pool the maximum number of guests.
We will tell you how to build a distribution strategy, pick the right channels, manage your OTA business, boost direct bookings, handle reviews easily, and track your results. Using a mix of these channels helps hotels reach more customers, boost revenue, and manage room availability easily while competing in the market.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content