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Skift Take: Today's podcast looks at Marriott's big settlement, the shaky 2025 OTAforecast, and new loyalty rules for Hyatt and American Airlines. Rashaad Jorden Read the Complete Story On Skift
Skift Take: With hotel brands making major strides in customer ownership, it is time to start anticipating when direct bookings will outpace third-party sites. Pranavi Agarwal and Seth Borko Read the Complete Story On Skift
Houston TX, January 15, 2025 Hotels that allow Online Travel Agents (OTAs) to undercut their rates pay nearly 50% more for PPC leads, new research has revealed. OTAs increase their bids on branded searches when they know they can offer travelers the best price. The increased cost is driven by competition.
By Eric Alister It goes without saying that Artificial Intelligence (AI) has unveiled to hotel and online-travel agency (OTA) brands the hidden powers of customer data collection for increasing operational efficiency and revenue. The post Hotels and OTAs are putting their customer data to good use appeared first on Hotelier Magazine.
Reaffirming the value of having a diversified hotel distribution strategy, the list once again features a range of both B2B and household consumer channels from OTAs to hotel websites, wholesalers and global distribution systems. Expedia, Trip.com, local OTA MG Group and STAAH GDS also retained spots on the list.
GDS and Niche OTA Power b. With consumer behaviours evolving, and the lines between tech platforms, marketing, and operations blurring, a modern strategy goes far beyond just listing rooms on online travel agents (OTAs). Pooled Inventory: Smart Inventory Distribution Forget manually allocating rooms to different OTAs.
Skift Take: We expect to see cautious guidance from hotels and online travel agencies amid economic uncertainty, with varying levels of resilience across sectors. Pranavi Agarwal Read the Complete Story On Skift
One of the main challenges for hotels is creating accurate forecasts in the short, medium, and long term. Accurate forecasting also benefits hotels’ bottom lines in other ways. But traditional forecasting models no longer cut it. Relying on historical data hinders performance since no season is ever identical to the last.
Global cloud-based market intelligence provider OTA Insight has rebranded to Lighthouse. “Our capabilities and vision have outgrown the OTA Insight name,” said Sean Fitzpatrick, CEO. The post OTA Insight rebrands as Lighthouse appeared first on hotelbusiness.com.
Online Travel Agents for hotels or OTAs serve as important distribution channels for hotels. OTAs are online platforms or websites that sell hotel rooms to customers. An excellent marketing strategy incorporates OTAs to boost sales and revenue. These statistics show why OTAs are essential for hotels.
But a lot of hoteliers have gotten stuck in a loop of constantly slashing prices, offering direct channel discounts, OTA promotions, and special rate packages to drive occupancy. And hotels and resorts have definitely caught on to this, offering tons of discounts to get people to book.
Simplified Distribution: Managing room inventory across multiple Online Travel Agencies (OTAs) can be complex. Single-solution platforms harness AI to: Analyze booking trends and forecast demand. Adopting AI and Automation The future of hospitality lies in AI-driven tools that automate routine tasks and provide predictive insights.
It analyses several factors including demand, season, occupancy forecast, and competitor pricing, etc. Channel Manager A channel manager is a software that helps you distribute/update your hotel’s rooms and rates on all the connected Online Travel Agencies (OTA). For example, you sell your rooms on 5 OTAs.
Integration with Distribution Channels: Seamless integration with distribution channels such as online travel agents (OTAs) , global distribution system (GDS) , and direct booking channels is essential for efficient inventory management and distribution.
Predictive Demand Forecasting Predictive analytics utilizes historical data, market trends, and external factors to forecast future demand. Maintenance Forecasting : Use occupancy trends to schedule preventive maintenance before peak dates, avoiding unexpected breakdowns. Also Read: Is Your Hotel Ready for the Peak Season?
Core Pricing Strategies for Hotel Trading Bots Programming effective hotel trading bots starts with identifying robust pricing strategies, including: Dynamic Rate Setting Bots analyze historical booking data, forecasted demand, local events, and other factors to set optimal daily rates aimed at maximizing RevPAR.
Steps to Analyze Competitor Pricing: Track room rates across OTAs and direct websites. Historical Forecasts Historical data helps you predict future demand and optimize rates. How to Use Forecasting: Analyze past trends for high-demand and low-demand periods. Compare room types (standard, deluxe, suite) and amenities offered.
These tools use data-driven insights, automation, and forecasting to ensure youre charging the right price at the right time. Guest actions Who makes direct bookings versus through OTAs, and how can you influence them? Forecasting helps you prepare for the future, with the right pricing, staffing, and strategies already implemented.
Without it, your business is essentially forfeiting the ability to boost bookings, revenue and profit, offer competitive rates and promotions, and forecast effectively. That said, one has to ask: why are so many hotels’ margins still being eroded away by OTAs ? Some OTAs still use cached pricing.
Our AI solutions transform this human-centered data into tools that not only address critical pain points like high OTA commissions and labor costs, but also free hospitality staff to focus on what technology cannot replicate genuine human connections with guests.”
The top five features listed by RMS users are: Automated pricing recommendations Real-time insights Quick and efficient forecasting Ease of use Market intelligence data Tech Investment Set to Continue Hotel tech spending continues to increase, with 60.7% of respondents saying they had spent more in 2023 compared to 2022, and 71.4%
Net rate : This is the rate after subtracting any commissions or fees, often used in negotiations with online travel agencies (OTAs) or corporate bookings. Plus, OTAs and other industry partners will normally negotiate based on your rack rate, so you really need to have one if youre going to operate smoothly with other players.
It keeps everything in one place Trying to consolidate data from OTAs, the GDS, brick-and-mortar travel agencies, phone reservations, and more can be very tricky when done manually. The Central Reservation System ensures all this information is stored and accessible in one place, and always up-to-date.
In hospitality, every dollar earned reflects smart planning, sharp forecasting, and responsive pricing, all driven by the Hotel Revenue Manager. Heres what a future-ready revenue toolkit looks like and how STAAH supports each layer: 1) Channel Manager Managing multiple OTAs manually is time-consuming and error-prone.
With categorized reports and intuitive tooltips explaining each metric, it empowers teams to spot trends, correct inefficiencies, and forecast with confidence. are performing across OTAs and booking sources. Room Type Wise Booking : Analyze performance by room category to determine popularity and revenue contribution per room type.
Decision: Should we increase or hold the retail pricing on online travel agents (OTAs) and the brand website? Forecast Accurately: Use forecasting to inform pricing, yield management , and channel management decisions. Consider the following scenarios to illustrate this point: 1.
Decision intelligence unifies the full range of pricing decision-making through both OTAs and direct bookings. It’s equipped with forecasting, trend analysis, and automation capabilities and is built into the Cloudbeds platform, allowing users to make smarter, data-driven decisions directly across the system.
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. Online travel agencies (OTAs) have returned stronger than ever.
Anticipating your demand The first step to optimise for low occupancy periods is to understand when they happen – forecasting demand is critical to manage it. However, a better picture can be drawn if you look outside into the real world for this data – competitor rates, airline prices and even economic forecasts are important to consider.
The data covers key hotel performance indicators such as occupancy, RevPAR, booking lead time, length of stay, international and domestic travel, direct and OTA bookings, as well as upsell performance to forecast trends shaping the hotel industry in 2023.
Forecasting High-worth customers are known for booking at the last minute. When casinos are armed with a forecast that predicts this type of demand, they can price accordingly. Having a system that can give you real-time pickup is highly valuable when you’re creating forecasts,” Reed says. “It
Thanks to these solutions, today’s revenue manager can produce forecasts, distribute inventory and adjust rates with speed – a stark contrast to the manual and long drawn-out processes that defined the practice in the past. A richer data set will allow for a clearer picture of market conditions and improved forecasting.
Learn more Yield management vs revenue management The goal of yield management is not merely to increase room rates or occupancy; rather, it’s to maximise your hotel’s revenue by forecasting your room supply and demand across a variety of key factors. Informed Decision-Making : Yield management relies heavily on data analytics.
How many direct bookings are you losing to OTAs due to poor integration? With a centralized HMS, revenue management tools can optimize pricing strategies, direct booking systems can reduce OTA dependency, and automated staffing solutions can ensure that operational costs remain under control.
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.
Designed specifically for the hospitality industry, it offers easy channel management, rate distribution, and inventory control across multiple online travel agencies (OTAs) and booking channels. Additionally, IDEAS offers forecasting tools, allowing hotels to anticipate demand and adjust pricing accordingly.
3) ForecastingForecasting is the lifeblood of revenue management. Forecasting in revenue management relies on setting prices based on what you expect the demand to be. For instance, corporate clients may spend more on services within the hotel and get more volume of bookings throughout the year.
eCommerce sites include hotel websites and booking engines , online travel agencies (OTAs), metasearch engines , and other online platforms where hotels advertise and sell rooms. Metasearch advertising can be an effective way to reach these travelers, compete with OTAs, and generate direct bookings.
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.
Essential Features of a Good PMS Integration with OTAs and Channel Managers An effective PMS integrates seamlessly with Online Travel Agencies (OTAs) and channel managers, ensuring real-time updates for room availability and pricing across platforms.
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.
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