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Ravi Mehrotra The hospitality industry is undergoing profound transformation driven by rapid technological advancement, volatile market dynamics and heightened customer expectations. A major limitation in legacy hotelrevenue management practices has been the isolation of revenue teams from their marketing and sales counterparts.
Ever wondered why some hotels consistently outperform their competitors, even in challenging market conditions? The secret often lies in their ability to master market segmentation - a strategy that's becoming increasingly crucial in today's diverse hospitality landscape.
We often see management companies investing heavily in front-of-house technology to enhance the guest experience and drive repeat business and revenues, Henrik Shimony, cofounder/ CEO, Reeco, and a former hotelier, told Hotel Business in an exclusive interview. In todays competitive market, Reeco is essential.
A hotel booking engine is more than a plug-in, it’s the digital front door to your hotel. Hotel Booking Engine Key Features: Is Your Current System Holding You Back? Custom Branding: Keep the look and feel consistent with your hotel’s website. Anything less, and they’ll bounce. Ask yourself: Is it really built to convert?
The rack rate is the standard, undiscounted price for a hotel room. They simplify the often complex world of revenue management , giving you a reliable foundation to build upon as you grow your confidence in managing rates. Our tools help you maximise revenue, simplify operations, and attract more bookings effortlessly.
Periods of high demanddriven by holidays, festivals, or local eventscan strain resources, impact guest satisfaction, and complicate revenue and maintenance management. To navigate these complexities, hotels are increasingly turning to data analytics. Also Read: Is Your Hotel Ready for the Peak Season?
A hotel booking engine is more than a plug-in, its the digital front door to your hotel. Custom Branding: Keep the look and feel consistent with your hotels website. Upsell & Promo Tools: Drive more revenue per booking with add-ons and exclusive deals. Fully Brandable: Aligns with your hotels website design and tone.
When the economy is low, the first thing that most businesses want to save on is their marketing. This might not be a good thing for hotels because they need some quality content to attract more guests during bad times. We’ll also talk about how Hotelogix can make content marketing easier and more effective.
This trend called " bleisure " travel, changes the hotel industry bringing both challenges and money-making chances for hotels around the world. At AxisRooms, we aim to help hotels in every way possible. This change is making hotels rethink what they offer, mixing work perks with fun stuff to meet this new demand.
What is a hotel director? A hotel director oversees the daily operations of a hotel, ensuring everything runs efficiently while delivering a high standard of guest service. The title can varysome properties use terms like hotel manager, lodging manager, or director of hospitalitybut the core responsibilities remain the same.
OK, so you have decided to realize your dream and become a hotel entrepreneur, so now you need to start writing your hotel business plan. The next step would be to write a hotel business plan. Really it is not that difficult to make a good hotel business plan. It’s like a road map to the opening. Infographic by Xotels 1.
As a hotel owner you’ve navigated the chaos of permits, watched the first brick get laid, and seen your vision take shape room by room. The next step is just as important— getting your hotel noticed. The next step is just as important— getting your hotel noticed.
Real estate investor, developer and manager Caliber has entered into a development rights agreement with an affiliate of Hyatt Hotels Corporation to develop 15 new Hyatt Studios hotels in the U.S. The second hotel within the agreement will be in Scottsdale, AZ and is expected to break ground in the second quarter of 2026.
In the hotel business, repeat guests are gold. That’s why loyalty programs have become a cornerstone strategy for independent hotels, boutique properties , and growing chains alike. According to a Cornell University study, hotel guests enrolled in a loyalty program increased their booking frequency by over 50%.
TFE Hotels has signed a multi-property management agreement with New Zealand’s Heritage Hotels, which will see half of the Heritage portfolio refurbished and rebranded under the Adina and Rendezvous brands. Tang said Heritage Hotels will also benefit from TFE Hotels’ global distribution systems and centralised service model.
A hotel sales strategy is a plan of action designed to increase hotelrevenue and bookings. It involves identifying targetmarkets, setting sales goals, and creating a plan to achieve those goals.
To succeed in hospitality, hotels must go beyond room bookings, tapping into ancillary services to drive growth amidst changing markets. In the competitive world of hospitality, maximizing revenue from room bookings alone is no longer sufficient for sustaining growth and profitability.
What is hotelrevenue management? Hotelrevenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. This can only be done by measuring and monitoring the demand of your hotel rooms.
We have written extensively about hotelrevenue 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 hotelrevenue management consulting company.
Here are 8 smart pricing strategies for hotels to boost revenue and drive more bookings during the holiday season The holiday season marks a period of increased travel, festive cheer, and heightened demand in the hospitality industry. Let’s explore some tips to maximize your hotel’s profitability during this festive period.
Hotel management is a complex and challenging task requiring business acumen and customer service skills. This means identifying who your targetmarket is, their needs and preferences, and how you can best serve them. For example, your targetmarket is mainly business travelers.
A hotel sales strategy is a plan of action designed to increase hotelrevenue and bookings. It involves identifying targetmarkets, setting sales goals, and creating a plan to achieve those goals. Here are 6 hotel sales strategies to increase your revenue.
Whether you accept transient or group business to your hotel is more than just a revenue management question. And what is the philosophy of the hotel, the ownership, the general manager, and other stakeholders? For this scenario, we’re thinking about just a room without considering F&B or any other revenue streams.
Over 500 hotel industry leaders have gathered at the Te Pae Christchurch Convention Centre for the third annual AHICE Aotearoa, hosted by HM Magazine and Hotel Council Aotearoa. We’re delighted with the support from Christchurch and Te Pae, which is keen to attract new hotel investment to the region,” Doolan said.
The Arca in Hong Kong used unified customer profiles that included all spending behaviors to implement targetedmarketing campaigns, resulting in a revenue lift of HK$ 1.6M (over $200k USD) and an average revenue of HK$117k (nearly [.]
From pricing analysis to targetedmarketing, from occupancy rates to guest engagement, every hotelier knows that metrics are important – but how do you sort the interesting from the invaluable? What to Do with the Hotel Data?
What is a hotel business plan? A hotel business plan is a comprehensive document that outlines your hotel’s goals, strategies, and financial projections. It serves as a roadmap for your hotel’s success, helping you attract investors, secure funding, and make informed decisions about your operations.
The right software is a game-changer for hotel success, shaping everything from operational efficiency to guest satisfaction. As technology continues to advance, hotels have transformed the way they manage daily tasks and interact with guests. Let’s take a look at some essential software solutions every hotel should consider.
Moving from merely managing hotelrevenue to maximizing profit is a critical transformation that ensures your property's long-term success. This shift requires a comprehensive approach integrating cost control, strategic marketing, and top-notch guest services. Read Also: What is Dynamic Pricing in Hotels?
What is hotel ROI? Hotel ROI means return on investment, which evaluates how much money you are getting out compared to what you put in. What is a good return on investment for a hotel? Average return on hotel investment It’s agreed upon within the industry that 6-12% is a reasonable return on hotel investment.
What is a hotel subscription? A hotel subscription is a service that allows guests to pay a recurring fee—typically monthly or annually—in exchange for ongoing benefits like room access, discounts, or special perks. Table of contents Why should hotels consider subscription plans?
8 Essential reasons to Optimize your Hotel’s Booking Engine A hotel booking engine is a crucial tool for hotels and accommodation providers in today’s time. It plays a key role in the overall success of a hotel’s operations. These top Hospitality Trends can help you prepare for your hotelmarketing strategy.
As an independent hotel owner, you understand the challenges of driving revenue in a competitive market. From setting the right prices to attracting the right guests, every decision you make impacts your hotel's bottom line. What is Revenue Management in Hotels?
Hotel gift vouchers can be a great tool for driving consistent revenue, no matter the season. While they may peak during the holidays, many hotels are missing out on their potential for year-round sales. 5 Effective Strategies to Drive Hotel Gift Voucher Sales All Year 1.
When it comes to luxury hospitality, every empty room represents a missed opportunity and mastering the art of revenue management is paramount. The role of revenue management in luxury hospitality At the core of revenue management lies the art of optimizing room rates and availability to maximize revenue.
Well, the answer lies in how well you’re using your HotelRevenue Management System (RMS) reports. But with so many reports available, how do you find the ones essential for maximizing your hotel’s revenue? Flash Report Flash Report presents the summary of hotel performance metrics.
What is revenue management consulting? Revenue management consulting is specialised expertise that a business can bring in to gain guidance on managing and optimising revenue. An investment in hotelrevenue management services is therefore one that can quickly deliver an attributable return.
What are hotel events? Hotel events transform hotels into hubs of activity and excitement. At their most simple, they’re gatherings for connection, and at their best, they’re experiences that leave lasting impressions on hotel guests and attendees alike. Networking events These events are all about connections.
Yield management is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. Over time, these roles matured and transformed, giving birth to the modern-day revenue or reservations managers.
According to Marriott, the new-build concept will consist of 124 keys and “is perfect for secondary and suburban markets with a concentration of class B multifamily.” ” The company said it already has 1,800 targetmarkets identified in the U.S. and Canada.
Working Collaborative Group Gatherings: A New Segment is Being Defined for Hotels The concept of a hybrid workstyle is revolutionizing businesses and salespeople. What Working Collaborative Group Gatherings Means for Hotels What is it? Relationship Marketing Fills a Better Funnel Why should hotel salespeople care?
By Laura Pratt The more a hotel knows about its guests, the better it can entice them to book and the better it can meet their needs on site. This illumination is facilitated with hotelmarket segmentation, a key component of a viable hotelrevenue-management strategy.
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