Hotel Speak

AUGUST 9, 2023

In the dynamic landscape of the hospitality industry, effective hotel revenue management stands as a cornerstone for optimizing profits. Understanding the Essence Hotel revenue management is a strategic process encompassing the precise pricing of hotel rooms to unlock their full revenue potential.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

Hotelogix

NOVEMBER 19, 2023

As a hotelier, boosting the occupancy rate is critical to running a successful business. In a highly competitive industry, you must attract and retain guests to increase your property's occupancy rate and revenue. This article will explore various ways to improve hotel occupancy rates and the role of technology in it. 

Occupancy 59

Occupancy Maximum Length of Stay Minimum Length of Stay Revenue Management 59

Catala Consulting

JANUARY 18, 2024

In the dynamic world of hospitality, the UK market stands out as a beacon of innovation and adaptation, particularly in the realm of hotel revenue management. This article explores the top trends in hotel revenue management, yield management, and revenue management in the UK, offering insights and strategies for hotel professionals.

Revenue Management 52

Revenue Management Revenue Management Market 52

STAAH

OCTOBER 25, 2022

From irregular demand patterns to changing distribution mix and a depleted talent, here’s a roundup of challenges faced by revenue managers from India right now. The STAAH team went out to leading revenue managers from India to understand what are the biggest challenges they are facing. Forecasting and budgeting.

Revenue Management 72

Revenue Management Revenue Management Forecasting 72

STAAH

NOVEMBER 8, 2022

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. Dynamic pricing.

Revenue Management 72

Revenue Management Revenue Management Forecasting 72

SiteMinder

OCTOBER 9, 2022

Whether you are new to the industry or catching up with the fast evolution, this blog will introduce you to the responsibilities of revenue managers and how they can succeed in 2022. What is a revenue manager? A revenue manager is responsible for pricing hotel inventory (rooms) to maximise profit.

Revenue Management 59

Revenue Management Revenue Management Occupancy 59

Catala Consulting

NOVEMBER 18, 2023

The Evolution of Hotel Revenue Management In its early stages, hotel revenue management was a game of numbers – it was all about filling rooms and adjusting prices based on demand. Hotels used historical data and simple forecasting methods to set room rates, often focusing on short-term gains.

Revenue Management 52

Revenue Management Revenue Management Hotels 52

Xotels

APRIL 3, 2024

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.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Cloudbeds

MAY 8, 2024

Searching for demand patterns for your property is like traveling to the past and then going to the future to forecast how to set up your hotel for success. Instead of a time machine, you need data on your hotel’s booking performance from your property management system. Calculate occupancy, ADR, RevPAR, and more.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

Hotelogix

APRIL 22, 2024

Importance of Analysing Hotel Data Hotel data encompasses various information, from guest bookings and preferences to revenue figures and occupancy rates.   Strategic revenue management with hotel data Effective revenue management is critical to your hotel's profitability. What is Hotel Data?

Management 52

Management Average Daily Rate Revenue Management Hotels 52

Hotel Business

APRIL 19, 2023

Experts across the hospitality industry continue to forecast “cautious optimism,” emphasizing caution as the International Monetary Fund chooses to lower the projections for their annual economic growth forecast to 2.9% Today, this process is supported end-to-end by revenue management technology. from an initial 3.4%.

Revenue Management 52

Revenue Management Forecasting Consumer Occupancy 52

Inn Quest

APRIL 3, 2023

For instance, online booking systems, channel managers, and revenue management software can help you manage reservations, room rates, and availability across different channels. This includes implementing mobile check-in and keyless entry , using guest messaging platforms, and providing digital guest directories.

Operations 88

Operations Revenue Management Forecasting Revenue 88

SiteMinder

APRIL 18, 2024

As travellers book further in advance, hoteliers are in a stronger position to forecast occupancy and optimise their revenue management, allowing them to fully leverage events like the London Marathon,” concludes Bishop. He adds: “Alarmingly, the average daily rate at London hotels has decreased slightly by 6.5%

Average Daily Rate 59

Average Daily Rate Revenue Management Accommodation Revenue 59

Cloudbeds

APRIL 30, 2024

A question that likely keeps you up at night is, ‘How can I boost revenue per available room (RevPAR) and outpace my competitors?’ It’s the bedrock of hotel revenue management , and for good reason. Prices change dynamically (hence the name) using real-time data to maximize your revenue and occupancy rates.

Revenue Management 52

Revenue Management Revenue Occupancy Hotels 52

Inn Quest

APRIL 5, 2023

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. Yield management is a pricing strategy that predicts customer demand and adjusts prices to maximize revenue.

Yield Management 88

Yield Management Management Occupancy Revenue 88

Little Hotelier

MARCH 10, 2024

It centralises information on bookings, customer interactions, and revenue streams, allowing hoteliers to efficiently track performance and make informed decisions. Manage your hotel sales with the best software in the market Use Little Hotelier’s revenue management features to manage your hotel sales and boost hotel bookings.

Hotel Sales 52

Hotel Sales Sales Revenue Management Revenue 52

eZee Absolute

SEPTEMBER 22, 2023

In this blog, we’ll break down the various hotel rate types, and how they can benefit your business and provide actionable strategies for you to maximize your revenue and occupancy. This diversity ensures that your hotel remains an attractive option for various guest segments , ultimately leading to increased occupancy.

Revenue 52

Revenue Management Occupancy Revenue Management 52

SiteMinder

OCTOBER 15, 2023

Taking supply and demand into account, dynamic pricing allows for prices to fluctuate regularly so the hotel can maximise revenue. For example, in the morning you may have lower rates because your occupancy is low and demand is not strong. This will allow them to capitalise on opportunities to boost occupancy and/or maximise revenue.

Occupancy 59

Occupancy Revenue Hotels Revenue Management 59

Inn Quest

OCTOBER 17, 2023

That being said, this blog explores some best practices for avoiding overbooking in the hotel industry as well as how to accurately track occupancy rates and manage inventory across multiple channels. They are a result of a delicate balance between maximizing revenue and providing guest satisfaction.

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

Hotelogix

NOVEMBER 13, 2023

But a wrong hotel room pricing strategy will not help boost your hotel revenue as it can’t attract guests to book with you. It would help you sell more rooms and boost your occupancy. Additionally, at low demand seasons, when your occupancy is low, you can charge less for your room to attract bookings. #2

Revenue 52

Revenue Occupancy Forecasting Minimum Length of Stay 52

SiteMinder

SEPTEMBER 10, 2023

This should include room occupancy rates, average daily rates (ADR), revenue per available room (RevPAR), and customer acquisition costs. Revenue forecasting Create a detailed revenue forecast that includes a month-by-month and quarter-by-quarter breakdown. Here are the steps involved: 1.

Revenue Management 59

Revenue Management Revenue Hotels Average Daily Rate 59

Inn Quest

AUGUST 8, 2023

Offering competitive rates during off-peak seasons allows hotels to remain active in the market and attract guests even when other competitors might be struggling to maintain occupancy. Improved Inventory Management: Implementing seasonal pricing allows hotels to manage their inventory more efficiently.

Overbooking 88

Overbooking Hotels Occupancy Revenue 88

Cloudbeds

MARCH 8, 2024

It ensures all financial aspects of your hotel business are kept up to date and provides valuable reporting and forecasting tools to help hoteliers make smart, data-driven decisions. By being flexible with your pricing, you can maximize your revenue per available room (RevPAR, for short) and occupancy rates.

Forecasting 52

Forecasting Revenue Hotels Revenue Management 52

SiteMinder

DECEMBER 4, 2023

Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. This kind of data is invaluable for hoteliers who want to analyse performance, benchmark, forecast, and plan strategically to ensure business success. Hotel occupancy will increase 2.5%

Occupancy 59

Occupancy Hotels Average Length of Stay Revenue 59

Inn Quest

SEPTEMBER 5, 2023

Effective hotel inventory management relies on technology solutions like Property Management System s (PMS), Channel Managers, and Revenue Management Systems (RMS) to automate tasks, analyze data and make informed decisions. Implementing an RMS helps maximize revenue by adjusting rates dynamically.

Management 87

Management Overbooking Revenue Hotels 87

Hotelogix

DECEMBER 25, 2023

The dynamic pricing feature allows you to sell at the best rates to increase sales, occupancy, and revenue based on your hotel's occupancy, guests' booking window, length of stay, etc.

Revenue 59

Revenue Sales Hotels Shopping 59

Cloudbeds

FEBRUARY 15, 2023

For example, a hotel pays the same rent and property taxes whether it’s running at 30% occupancy or 100% occupancy. Examples of fixed costs in hotels include: Payroll-related expenses Rent or mortgage Property taxes Insurance Fixed monthly bills like cable and internet Franchise and management fees (if applicable) Technology (E.g.,

Operations 52

Operations Occupancy Revenue Hotels 52

Inn Quest

JANUARY 26, 2023

Hotel management solutions give hoteliers easy-to-use tools that streamline and automate their operations and improve guest experiences. Applications of such solutions involve booking engine s, hotel CRM , channel managers, revenue management systems (RMS), etc.

Management 54

Management Revenue Management Revenue Hotels 54

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

SiteMinder

OCTOBER 9, 2023

These metrics encompass a wide range of areas, from financial figures like revenue per available room (RevPAR) and average daily rate (ADR) to operational aspects such as occupancy rates and guest satisfaction scores. It offers insights into room demand and helps in forecasting.

Average Daily Rate 59

Average Daily Rate Average Length of Stay Occupancy Revenue 59

SiteMinder

JUNE 16, 2022

Late in 2018 the then 7 bedroom town-centre inn was acquired by new operators, who were keen to optimise their revenue management and develop advanced strategies. For more than five years MavREV has been providing total revenue optimisation to hotels all across the UK. MavREV helps business to expand.

Revenue 52

Revenue Sales Revenue Management Digital Marketing 52

Inn Quest

FEBRUARY 1, 2023

Hoteliers can also use a channel manager to seamlessly connect with popular OTAs such as booking.com, Expedia, AirB&B, etc. Integrated platforms help increase the hotel’s visibility, maximize occupancy, and decrease overbookings. A Revenue Management System can simplify distribution and increase conversion.

Management 88

Management Consumer Hotels Overbooking 88

SiteMinder

JULY 25, 2022

It’s a key metric for you to measure and track if you want to build an effective hotel revenue management strategy. By looking at ADR, you can easily start to strategise ways to boost your bookings and revenue. With higher occupancy, you have more chances to win revenue from guests during their stay.

Average Daily Rate 52

Average Daily Rate Upsell Occupancy Revenue 52

eZee Absolute

NOVEMBER 1, 2022

Statista ) In 2022, the global hotel and resort industry market was forecast to reach $1.06 Statista ) Hotel room nights demand and room revenues in 2022 are expected to nearly return to 2019 levels. Room revenue is expected to reach $168 billion and occupancy is projected to be 63.4%. Revenue Management.

Hospitality 52

Hospitality Revenue Management Revenue Travel 52

Hotel Business

OCTOBER 27, 2023

The underlying dynamics observed in previous quarters remained constant, with ADR still high and a marked improvement in the occupancy rate, which slightly lags the level of 2019. For full-year 2023, the group is confirming its forecast of net unit growth in the network between 2% and 3%. million), up 15% LFL versus Q3 2022.

Revenue 72

Revenue Occupancy Services Management 72

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? Your occupancy rate.

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

Little Hotelier

NOVEMBER 6, 2023

What is hotel revenue optimisation? As a small, independent hotelier you may have heard the terms hotel revenue optimisation and hotel revenue management. So what is revenue optimisation? Here are six revenue optimisation strategies that any independent hotelier can try.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59