Inn Quest

APRIL 5, 2023

It is a dynamic pricing strategy that allows hotels to offer competitive prices during low-occupancy periods while maximizing profits during high-demand periods. It enables hotels to achieve this goal by analyzing data such as occupancy rates, booking trends, and seasonal patterns to adjust prices and inventory.

Yield Management 88

Yield Management Management Occupancy Revenue 88

Little Hotelier

MARCH 10, 2024

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. The system integrates various data points to provide actionable insights, aiming to balance occupancy and revenue.

Hotel Sales 52

Hotel Sales Sales Revenue Management Revenue 52

Hotelogix

MAY 16, 2024

Sell more rooms: With increased online visibility, you can drive more bookings while eliminating overbookings and guest dissatisfaction.  Maximizing revenue with a revenue management system  A revenue management system uses historical data and market analytics to forecast demand and adjust pricing in real time.

Operations 52

Operations OTA Hotels Revenue 52

Inn Quest

FEBRUARY 1, 2023

Integrated platforms help increase the hotel’s visibility, maximize occupancy, and decrease overbookings. An RMS can automate rate optimization, forecast pricing, and engage with potential guests. Hoteliers can also use a channel manager to seamlessly connect with popular OTAs such as booking.com, Expedia, AirB&B, etc.

Management 88

Management Consumer Hotels Overbooking 88

Cloudbeds

APRIL 30, 2024

With dynamic pricing, room rates are not fixed but are adjusted based on market demand, competition, time of booking, customer behavior, occupancy, and other factors that can influence booking patterns. Prices change dynamically (hence the name) using real-time data to maximize your revenue and occupancy rates. Maximizing occupancy.

Revenue Management 52

Revenue Management Revenue Occupancy Hotels 52

SiteMinder

OCTOBER 10, 2023

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.

Forecasting 52

Forecasting Revenue Average Daily Rate Occupancy 52

STAAH

NOVEMBER 8, 2022

The second of our two-part blog series on revenue management looks beyond challenges towards trends emerging from dwindled demand, patchy recovery and flipping of established revenue management processes to forecast and inform pricing. If you’re lost amidst volatile demand and ineffective conventional forecasting methods, don’t worry.

Revenue Management 71

Revenue Management Revenue Management Forecasting 71

SiteMinder

JUNE 8, 2022

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? How can you forecast effectively at your hotel?

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

Hotelogix

NOVEMBER 30, 2023

It refers to forecasting demand based on industry trends, current bookings, and past data. You can charge higher when demand is high and lower when demand is low to keep your hotel at maximum occupancy. This will ensure real-time rate and inventory updates across all OTAs to avoid overbookings and loss of business opportunities.

OTA 59

OTA Hotels Online Sales Market 59

Xotels

APRIL 3, 2024

Following best practices and a well-thought-out strategy is the only way to unlock the full potential of revenue for your hotel , with benefits including: Claim your fair market share: with more hotels forecasted to open every year , gaining a fair market share will become more difficul t each year.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Hotel Speak

FEBRUARY 26, 2024

Adam Harris, Co-Founder and CEO of Cloudbeds , said: “The outlook for the travel industry in 2024 looks rather encouraging, with economic forecasts shifting from fears of a global recession to expectations of a soft landing and moderate growth. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR.

Average Daily Rate 86

Average Daily Rate OTA Overbooking Travel 86

SiteMinder

DECEMBER 7, 2023

This strategy is crucial for enhancing both occupancy rates and the average daily rate (ADR), directly influencing the hotel’s financial performance. Higher occupancy rates : Pricing rooms correctly plays a pivotal role in driving occupancy. It pays to obsess over long-range weather forecasts too.

Management 59

Management Average Daily Rate Occupancy Revenue 59

Hotel Operations

FEBRUARY 12, 2023

We tend to have an occupancy rate of around 90% throughout the year and outperform STR market benchmarks by up to 30-40%. It gives me a live forecast of my financial performance. We can have an algorithm doing a forecast on toilet paper and then just ordering it automatically to the respective property. It’s linked to our PMS.

Operations 52

Operations Real Estate Hotels Revenue 52

Hotelogix

OCTOBER 19, 2023

They include history and forecast reports, hotel revenue reports, hotel reservation reports, night audit reports, MIS and manager flash reports, and many more. It improves a hotel's online visibility and sales while eliminating overbooking.    Reports: This is very critical.

Hotels 52

Hotels Revenue OTA Management 52