This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Heres why a booking engine should be at the heart of your hotels digital strategy: Own the Guest Relationship: Unlike online travel agents (OTAs) , direct bookings give you full access to guest data, ideal for personalization, upselling, and loyalty-building. Analytics & Conversion Tracking: Know whats working and whats not.
Here’s why a booking engine should be at the heart of your hotel’s digital strategy: Own the Guest Relationship: Unlike online travel agents (OTAs) , direct bookings give you full access to guest data, ideal for personalization, upselling, and loyalty-building. Analytics & Conversion Tracking: Know what’s working and what’s not.
What is Yield Management? Yield management is a pricing and revenue management strategy that is used to maximise business performance. For hotels, the ultimate aim of yield management is to increase revenue by leveraging the balance between supply (available rooms) and demand (guest bookings).
During peak holiday periods, consider adopting a revenue management system that factors in various parameters such as historical booking data, competitor pricing, local events, and even weather forecasts. This not only adds value for guests but also allows hotels to upsell services and capture diverse customer preferences.
Moving from merely managing hotel revenue 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. Run targetedmarketing campaigns to attract high-value guests.
What is hotel revenue management? Hotel revenue 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. What is the primary purpose of revenue management? Why is revenue management important for the hotel industry?
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.
When thoughtfully designed and effectively managed, a loyalty program can directly boost revenue, enhance guest satisfaction , and strengthen your hotel’s brand. Hotelogix PMS Supports Seamless Loyalty Integration Managing a loyalty program manually is time-consuming and prone to error.
Hotel chatbots have become incredibly popular as they can help hotel staff in different areas, such as front desk, housekeeping, and hotel management. The chatbot can guide travelers through booking, answer queries, and facilitate reservations seamlessly, leading to increased conversion rates, direct bookings , and upselling opportunities.
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 hotel revenue management services is therefore one that can quickly deliver an attributable return.
To truly drive success, your focus should extend to drawing more visitors to your booking engine through a well-crafted digital marketing strategy. Upsell with Vouchers Vouchers are a great revenue source for hoteliers who can work away in the background on your website and email channel. What do they look like? Where are they based?
Furthermore, a booking engine can enable upselling and cross-selling opportunities by showcasing additional services, such as spa treatments or restaurant reservations, during the booking process. This data can be analyzed to gain market insights into guest behaviour, identify trends, and create targetedmarketing campaigns.
What is hotel management? Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. Successful hotel management is about being able to adapt and meet challenges within a range of roles and responsibilities.
There is no single answer to what constitutes a ‘good’ return on investment for a hotel , since it will vary significantly depending on the size and scope of the property, where it’s located, the goals of the management team, marketing efforts, features of the hotel and more.
The ability to quickly adapt and respond to market changes can set a hotel apart in a competitive market. Data-Driven Decision-Making: Data is the cornerstone of the scientific method and should be in hospitality management as well. Why Catala Consulting’s Outsourced Revenue Management?
A hotel CRM is a customer relationship management system, which helps hotels manage their relationships with guests. It can be used to track guest information, preferences, and interactions, as well as to automate marketing and sales communications. What is a hotel CRM? Learn more 2.
What is hotel management? Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. Successful hotel management is about being able to adapt and meet challenges within a range of roles and responsibilities.
Develop a search engine marketing (SEM) strategy by exploring paid advertising options on Google, Facebook, and other social media sites. Choose the platforms that best meet your marketing objectives and budget. Narrow down audiences to key targetmarkets and select the keywords that best fit your property type.
From checking in guests and entering reservations to managing rates and assigning rooms, many hotels still perform a lot of manual tasks. Oftentimes, these tasks overpower hotels’ ability to invest in proper guest communication, marketing activities, and revenue management , which significantly impacts performance and profitability.
To effectively manage every point-of-sale (POS) on property, lodging operators must leverage technology. A POS system lets you quickly process and record transactions across your property to improve the guest experience, streamline operations , and conduct better revenue management. Upselling opportunities. Expanded service.
The independent hotel industry is often accused of being slow to adopt technology,” says Tymen van Dyl, founder and CEO of hotel-management software provider RoomRaccoon. Employee pushback is another challenge to implementing technology in hotels says Greg Staley, general manager, E-Pro Bot Inc.
Most properties use a channel manager to share their inventory to keep all their channels, rates, and rooms in one place. Second, you still have to invest in marketing efforts to attract travelers and remain competitive. Leverage digital marketing This is where boosting direct sales can get a bit tricky.
“As we looked to expanding the Oracle OPERA Cloud platform, we really wanted to solve the biggest pain points in the industry,” Laura Calin, GVP, hospitality strategy and solutions management, Oracle, told Hotel Business. This includes setting and comparing KPIs for account managers and sales staff to keep track of account performance.
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.
Let's explore some tried-and-true ways to make your place stand out in the busy hospitality market. It's vital to understand your targetmarket. Turn Reviews Into Your Hotel’s Secret Weapon Online reviews can affect your bookings, highlighting the importance of online reputation management for hotels.
Your hotel management software will keep everything in sync, so what guests see online is always up-to-date. Reduced workload Gone are the days of manual booking management. This data-driven approach can give you a competitive edge in an increasingly crowded market.
It could also be said that to manage an unforgettable relationship with your customers, it wouldn’t hurt to strive for all three. That’s not always humanly possible, however, that is where a little technical help — such as a customer relationship management system, or CRM — comes in.
From our perspective as a hotel management company , we see both challenges as well as opportunities for hoteliers. When we talk about cost control in the hotel industry, we typically refer to the management of expenses and the optimization of resources. Keep reading our article on how to approach this multi-faceted issue.
This article explores some of the ways you might already be positioned to tap into the wellness travel market. If you want to make this segment a core targetmarket, you can offer wellness retreats in-house or collaborate with local wellness experts to offer specialised treatments, workshops, or retreats from your property.
It’s not a new hotel marketing tactic, but that doesn’t mean you can’t revamp the way that you are using this strategy. Hotel email marketing can be a powerful and useful way to generate bookings, increase customer loyalty and engage your targetmarket segment. Sometimes less is more when it comes to frequency.
👉 Read Also - Hotel Upsell Deals: Win Guests & Boost Revenue Travel Trends Adaptation Travel trends change with time. This helped them streamline their marketing efforts, improve engagement, and build a strong online brand presence. This also helps to build trust with potential guests.
Investing in Reputation Management to Monitor and Respond to Reviews In the hospitality industry, your reputation is your currency. A single glowing review can draw in countless guests, while a poorly managed critique can deter potential bookings. What are the 5 P’s of hotel management? Product involves quality amenities.
Technology in the hotel industry continues to advance at a rapid pace and hotel property management software (PMS) remains essential for hoteliers looking to improve how they run their business. The key to reaping the benefits of an effective hotel management software system is to select the right one for your property.
As a hotel management company with clients around the world, we have seen these trends in the tourism and hospitality industry take shape and evolve. Offering package deals for a fixed fee enables to targetmarket where customers desire more specialized stays. The Local Market for Staycations in Hospitality and Tourism.
Consider your targetmarket, guest expectations and local norms when choosing your pricing strategy. Use an accounting or property management tool that can properly account for VAT variance, and that will ensure you comply with all requirements. The best way to manage hotel VAT? If in doubt, choose transparency.
You should be able to easily find this data in your property management system (PMS). As for those who are motivated by perks and discounts, are they the ideal targetmarket for independent properties? Flag reservations so hotel management and staff know when they’re arriving and can greet them by name. Free breakfast.
But first, listen to Filippo Fasolo, Product Manager at Cloudbeds, discuss what exactly metasearch is during Passport 2024. Upsell and cross-sell. Optimize your reach Choose to work with metasearch channels that make the best fit for your property in terms of popularity, targetmarkets, costs, and booking potential.
Hyper-personalization, just like personalized marketing , takes into account a wide range of customer data, such as demographics, past purchase behavior, browsing history, social media interactions, and other relevant information. How Can Hotels Use Hyper-Personalization Marketing? Short Stay vs.
The Strategy Behind Successful Influencer Partnerships Choosing the Right Influencers : The effectiveness of an influencer partnership hinges on alignment between the influencer’s audience and the travel brand’s targetmarket. Tourism marketers develop and implement strategies to promote travel destinations, services, and experiences.
San Diego, CA – Cloudbeds has today revealed plans to become the world’s first property management system (PMS) to connect every facet of hotel operations into a single intelligence network, powered by causal and multimodal AI. Cloudbeds Intelligence will unlock new revenue potential for hoteliers across every aspect of their business.”
San Diego, CA – Cloudbeds has today revealed plans to become the world’s first property management system (PMS) to connect every facet of hotel operations into a single intelligence network, powered by causal and multimodal AI. Cloudbeds Intelligence will unlock new revenue potential for hoteliers across every aspect of their business.”
Hotel sales is about managing the process of attracting, engaging, and converting guests into paying customers. It includes various strategies and tactics around marketing, winning reservations, providing incredible guest experiences, and encouraging repeat business. Tips for success Not all channel managers are made equal.
The integration of AI into your hotel operations creates a powerful system for managing guest communications and driving revenue management. The use of AI in messaging has changed how hoteliers approach customer experience management, creating a perfect balance between automation and the human touch.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content