STAAH

APRIL 23, 2024

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.

Revenue Management 89

Revenue Management Revenue Ancillary Revenue Management 89

Xotels

APRIL 3, 2024

Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? The difference between Yield Management and Revenue Management is in the overall strategy, including in-depth analytics and forecasting. Revenue Management – What is the Difference?

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Hotel Speak

AUGUST 9, 2023

It is a holistic endeavour that involves a toolkit of methodologies such as market analysis, demand forecasting, dynamic pricing, personalized segmentation, distribution channel optimization, length-of-stay considerations, upselling, cross-selling, and seamless technological integration.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

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 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

Hotel Business

SEPTEMBER 15, 2023

For an effective pricing strategy, you should look to determine your offerings, including: Variety of rates Discounts Your loyalty program offerings Upsell opportunities Slow periods are an excellent time to understand price fences such as advanced purchase, deposit or cancellation policies, as these can be flexed over time.

Revenue Management 64

Revenue Management Revenue Management Forecasting 64

Catala Consulting

JULY 30, 2023

Improved Forecasting: Resort revenue management allows establishments to make accurate demand predictions. These forecasts are instrumental in strategic planning, enabling resorts to manage their resources effectively and maintain a consistent revenue stream all year round.

Revenue Management 52

Revenue Management Revenue Resorts Management 52

Little Hotelier

NOVEMBER 6, 2023

Adjust pricing Forecast demand and adjust your room rates well ahead of time. Upselling and cross-selling Grab upselling and cross-selling opportunities with both hands. Top hotel revenue optimisation strategies to try Now that we know the whats and the whys of hotel revenue optimisation, let’s look at the hows.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Hotelier Magazine

JULY 4, 2023

The companies surveyed more than 100 business decision-makers across a variety of industries to forecast the future of the market. per cent during the forecast period from 2023 to 2030, according to a market research study published by Contrive Datum Insights. (SCI) and Signifi Solutions Inc.

Services 52

Services Forecasting Hotels Market 52

SiteMinder

JULY 25, 2022

You can use ADR to forecast for specific weeks, months, or seasons, and then set performance goals for your business – making plans to improve any areas you thought you could have done better in the past. ADR is a quick and effective method of measuring your hotel’s performance. How to set KPIs for ADR?

Average Daily Rate 52

Average Daily Rate Upsell Occupancy Revenue 52

Inn Quest

JUNE 8, 2023

Upselling using Personalized Recommendations: Using machine learning techniques, AI algorithms analyze guest data collected from hotel management system s. Through this method, AI can identify upselling opportunities by leveraging guest preferences and historical data.

Hospitality 54

Hospitality Upsell Services Operations 54

A Sales Guy

MARCH 6, 2012

” I talked about how so few companies measure forecasting accuracy and why that is a mistake. How well a sales person upsells or bundles additional products and services. A while back I wrote about the “ Forgotten Metric. In this post, I’m going to talk about another missed metric. It’s the average deal size.

Sales 90

Sales Upsell Closing Forecasting 90

Cloudbeds

MARCH 23, 2023

Why eCommerce is important for lodging operators According to Statista , 69% of total revenue from the global travel and tourism market is booked online, representing approximately $475 billion in revenue in 2022 and forecasted to surpass $521 billion in 2023.

OTA 98

OTA Digital Marketing Travel Hotels 98

Hotelogix

MAY 16, 2024

  Boost revenue: Make the best use of an upselling/cross-selling strategy. 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

Catala Consulting

JANUARY 18, 2024

This trend enables more accurate forecasting, dynamic pricing, and personalized marketing strategies, significantly enhancing revenue potential. This approach not only enhances guest satisfaction but also opens up avenues for upselling and cross-selling services.

Revenue Management 52

Revenue Management Revenue Management Market 52

SiteMinder

OCTOBER 10, 2023

Beyond that, real-time data offers you insight into important metrics that allow you to forecast and plan better for each coming season at your hotel. What sets UpStay apart is its unique approach to upselling. In addition, you are able to sell more rooms through the channel management system.

Hotels 52

Hotels Upsell Management Travel 52

SiteMinder

DECEMBER 20, 2023

While it is capable of generating predictive analysis, such as yield management reports that forecast demand and guide rate adjustments, some users say that these reports don’t convert well to Excel. The ThinkReservation reporting suite is limited , showing only simple accounting and reservation statistics.

OTA 59

OTA Yield Management Management Business 59

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 also helps in upselling and cross-selling for more revenue.    Reports: This is very critical.

Hotels 52

Hotels Revenue OTA Management 52

Inn Quest

MAY 11, 2023

Hotels can identify the high and low seasons through historical data analysis and demand forecasting and prices can be adjusted accordingly. Additionally, upselling additional services or goods through bundling enables hotels to increase revenue.

Revenue 88

Revenue Occupancy Hotels Market 88

Cloudbeds

JUNE 26, 2023

When an RMS is integrated with the PMS, hotels can manage inventory and pricing more efficiently and produce accurate, timely forecasts of future demand to guide marketing and revenue strategies.

Operations 52

Operations Revenue Management Revenue Digital Marketing 52

Hotel Operations

JULY 21, 2023

Through data analysis, he can now forecast with accuracy how many steaks they’re going to sell every night, cutting down on waste. Danny has also been able to measure which servers are upselling the most and uses this insight for coaching.

Resorts 52

Resorts Revenue Revenue Management Business 52

Social Tables

DECEMBER 27, 2018

Meanwhile, late in 2018, CBRE forecasted that hotel supply would peak at 2% gain, stabilizing to 1.9 Respondents to the AMEX Meetings & Events Forecast predict that rise will equal about 2.41% in North America, while CWT expects an even higher hike of 3.7%. Last year, the Global Meetings Forecast predicted a 3.8%

Events 167

Events Business Scale Consumer 167