Hotel Business

MARCH 29, 2023

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.”

Revenue 52

Revenue Overbooking Revenue Management Forecasting 52

Hotel Business

MARCH 14, 2024

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.

Overbooking 59

Overbooking Revenue Upsell Forecasting 59

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

Inn Quest

AUGUST 8, 2023

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. To learn about the power of online reviews for hotels, read this.

Overbooking 88

Overbooking Hotels Occupancy Revenue 88

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. But it’s not solely about revenue. Why is hotel price optimization an essential pillar of revenue management?

Revenue Management 52

Revenue Management Revenue Occupancy Hotels 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

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 enables the adjustment of prices and inventory to meet seasonal demand, resulting in better revenue management in hotels.

Yield Management 88

Yield Management Management Occupancy Revenue 88

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

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? Table of contents.

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. This will ensure real-time rate and inventory updates across all OTAs to avoid overbookings and loss of business opportunities. You must know what to charge during each season. One crucial pricing strategy is to charge as per demand.

OTA 59

OTA Hotels Online Sales Market 59

Hotel Operations

FEBRUARY 12, 2023

The role of AI and BI in managing numa operations Artificial intelligence (AI) and business intelligence (BI) plays a big role in numa operations, starting with cost controls. “We It gives me a live forecast of my financial performance. It’s linked to our PMS. Another example is inventory counts.

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

SiteMinder

DECEMBER 7, 2023

It pays to obsess over long-range weather forecasts too. This consistent rate presence helps in avoiding disparities, ensuring a unified booking experience for guests and reducing the risk of overbookings or rate conflicts. If it’s a quiet time you can lower your rates to coax more guests in.

Management 59

Management Average Daily Rate Occupancy Revenue 59