eZee Absolute

JANUARY 19, 2023

For years, hotels have been at a crossroads, trying to determine whether to handle marketing in-house or outsource it. So, the question at hand is, how can hotels determine which marketing approach to opt for? And, how to capitalize on the strengths of both in-house and outsourced marketing?

Hotel Marketing 81

Hotel Marketing Market Marketing Hotels 81

STAAH

DECEMBER 18, 2023

Read full blog 6 Hotel Sales Strategies To Increase Occupancy and Revenue A hotel sales strategy is a plan of action designed to increase hotel revenue and bookings. It involves identifying target markets, setting sales goals, and creating a plan to achieve those goals. Read full blog

Hospitality 86

Hospitality Occupancy Target Marketing Marketing Strategy 86

Inn Quest

MARCH 2, 2023

This means identifying who your target market is, their needs and preferences, and how you can best serve them. For example, your target market is mainly business travelers. Develop a Strong Marketing Strategy Once you clearly understand your target market, developing a solid marketing strategy is next.

Management 89

Management Target Marketing Marketing Strategy Revenue Management 89

STAAH

AUGUST 1, 2023

It involves identifying target markets, setting sales goals, and creating a plan to achieve those goals. 1) Understand your target audience: It is important to understand who your guests are in order to provide relevant offers and guest experiences and find the right channels to reach them.

Occupancy 86

Occupancy Hotel Sales Revenue Sales 86

Cloudbeds

MARCH 20, 2023

And it all starts with hotel market segmentation. What is hotel market segmentation? Hotel market segmentation is the process of grouping hotel guests into categories based on shared behavior and characteristics. ” Why do you need market segmentation? Transient guests, on the other hand, are less predictable.

Hotel Marketing 52

Hotel Marketing Market Marketing Average Daily Rate 52

SiteMinder

JUNE 12, 2024

By understanding and anticipating guest behaviour and market dynamics, hotels can optimise their pricing strategies to boost their bottom line. It’s a testament to how industries adapt, grow, and refine their strategies in response to changing market dynamics and customer expectations.

Yield Management 98

Yield Management Management Revenue Management Forecasting 98

Hotel Management

DECEMBER 20, 2023

Veriu Group CEO, Zed Sanjana, and developer Tim Gurner are celebrating a successful first six months of Veriu Collingwood, with the apartment hotel garnering strong occupancy and room rates since opening. A lot of the target [market] was around project-focused corporate opportunity. It is a mix.

Construction 267

Construction Shopping Pipeline Occupancy 267

eZee Absolute

MAY 13, 2024

An RMS is a comprehensive software solution designed to analyze various data points, including historical booking patterns, market demand, competitor pricing, and other factors that influence revenue generation for your hotel. For example: A hotel’s booking pace report for the upcoming month falls short of the occupancy target.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Little Hotelier

FEBRUARY 25, 2024

In terms of hotel revenue management consulting, this guidance usually takes the form of more effective pricing – identifying and setting room rates that are alluring to your target market and result in more bookings, while maximising the amount you earn from each booking. Benchmarking against the market and key competitors.

Revenue Management 52

Revenue Management Revenue Services Management 52

MediaBoom

FEBRUARY 23, 2024

Do you know what your luxury brand’s target audience truly desires? Are your marketing efforts effectively connecting with affluent customers? Understanding your target audience is crucial in order to stand out in the competitive world of luxury brands. What Values Drive Your Luxury Brand Target Audience?

Consumer 98

Consumer Branding Market Research Market 98

Cloudbeds

MAY 8, 2024

After reading this article, you will learn how an effective analysis of your property’s booking performance will help you better understand your property’s demand patterns and how to leverage them to maximize revenue and occupancy. Occupancy rate indicates the percentage of utilization of hotel rooms.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

SiteMinder

OCTOBER 10, 2023

This includes fixed costs like rent or mortgage, salaries, and utilities, as well as variable costs like supplies, maintenance, and marketing. Let’s delve into some of the pivotal considerations: Market trends Understanding market trends is crucial for setting prices that are both competitive and profitable.

Target Marketing 59

Target Marketing Revenue Yield Management Market 59

Xotels

AUGUST 15, 2022

Incorporate channel distribution costs like travel agent commission, agency fees and marketing investments, payroll for sales, marketing, and reservation, to determine the true net value of each segment. Hotels in vacation markets for many have been influenced (indoctrinated) by tour operators on how to manage their property.

Market 59

Market Marketing Hotels ROI 59

Cloudbeds

MARCH 23, 2023

It’s often said that the internet is the great equalizer, but the reality is that online travel is dominated by players with huge marketing budgets, like OTAs and big hotel brands. 11 hotel eCommerce strategies How can lodging businesses take advantage of the growing online travel market and attract more bookings?

OTA 98

OTA Digital Marketing Travel Hotels 98

Cloudbeds

APRIL 15, 2024

Oftentimes, these tasks overpower hotels’ ability to invest in proper guest communication, marketing activities, and revenue management , which significantly impacts performance and profitability. It’s happening in every department, from the front office to accounting, marketing, revenue management, and food and beverage.

Revenue Management 98

Revenue Management Hotels Operations Revenue 98

Inn Quest

SEPTEMBER 5, 2023

Invest in a Revenue Management System (RMS): RMS software uses data analysis and algorithms to optimize room pricing based on demand, occupancy, market conditions, and competitor rates. Marketing and Promotion Strategies: Create enticing packages and promotions during low-demand periods to stimulate bookings.

Management 87

Management Overbooking Revenue Hotels 87

Little Hotelier

NOVEMBER 20, 2023

It can be used to track guest information, preferences, and interactions, as well as to automate marketing and sales communications. Boosted occupancy rates By understanding guest preferences and booking patterns, you can be more effective in how to market your property and price your rooms, resulting in higher occupancy rates.

Upsell 59

Upsell Hotels Occupancy Revenue 59

SiteMinder

OCTOBER 10, 2022

Falling short of your competitors when it comes to guest experience, accommodation standards or your marketing and advertising strategy can quickly lead to lost revenue. The company is the recognised leader in hotel industry benchmarking and provides market data including supply and demand and market share information on a global scale.

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

Cloudbeds

MARCH 15, 2023

This information can be used for more personalized pre-stay communication, post-stay follow-ups, and future marketing efforts. A direct booking strategy is a powerful force in reducing customer acquisition costs , increasing occupancy, and improving profitability by building greater brand loyalty and giving you direct access to guests.

OTA 98

OTA Revenue Travel Hotels 98

SiteMinder

JANUARY 8, 2024

This can involve the management of anything related to the hotel industry and requires knowledge of distribution strategy, finance and accounts, customer service, staff management, marketing, catering management, hotel administration and more. It can take time to get everything right and as we can see there’s a lot to be aware of.

Operations 59

Operations Management OTA Hotels 59

Hotelier Magazine

MARCH 11, 2024

Sustained recovery and growth depend on the return of all markets and segments, including international travellers and also business travel, both of which are core to our visitor economy. Occupancy rates have returned to pre-pandemic levels with ships largely at 95 per cent occupancy.

Tourism 52

Tourism Business Market Marketing 52

Catala Consulting

DECEMBER 28, 2023

The ability to quickly adapt and respond to market changes can set a hotel apart in a competitive market. Understanding patterns and guest preferences allows for better resource allocation, targeted marketing, and overall improved guest services. Case Studies and Success Stories 1.

Management 52

Management Revenue Management Revenue Hotels 52

SiteMinder

JANUARY 8, 2024

This can involve the management of anything related to the hotel industry and requires knowledge of distribution strategy, finance and accounts, customer service, staff management, marketing, catering management, hotel administration and more. It can take time to get everything right and as we can see there’s a lot to be aware of.

Operations 52

Operations Management OTA Hotels 52

SiteMinder

SEPTEMBER 6, 2023

Data collection From booking patterns to guest preferences, an online booking system captures a wealth of information that can be used for targeted marketing campaigns, personalised services, and operational improvements. This data-driven approach can give you a competitive edge in an increasingly crowded market.

Hotels 98

Hotels Revenue Occupancy Services 98

Travel Media Group

JULY 19, 2023

Podcast host Ryan Embree welcomes the newest addition to the TMG Hospitality Trailblazers series, Mauri Berry, Vice President of Marketing & Digital Strategy at Remington Hospitality! Ryan Embree: Welcome to Suite Spot, where hoteliers check-in and we check out what’s trending in hotel marketing. So happy to be here.

Hospitality 75

Hospitality Market Marketing Business 75

eZee Absolute

JANUARY 9, 2023

Use social media marketing. If you have been thinking of targeting this group of travelers, then here are some of the benefits you would love to learn about: 1. Explore new markets. If hotels can rework or tweak the look and feel, and services, they can differentiate themselves and stand out in the market.

OTA 52

OTA Hotels Accommodation Travel 52

SiteMinder

NOVEMBER 22, 2023

Events are a never-ending marketing opportunity and a major source of tourism. Pricing & marketing Developing a strategic pricing model is key to attracting the right audience while maximising revenue. Tip : Leverage social media for targeted marketing.

Events 59

Events Revenue Hotels Management 59

Hotel Speak

MAY 9, 2023

Cost control challenges can vary from hotel to hotel, depending on the market segment, location, and star classification, but most hotels face similar issues. Marketing By choosing the right marketing tools, such as a robust CRM system, hotels can capture and store guest data from all distribution channels.

Upsell 59

Upsell Hotels Revenue Operations 59

SiteMinder

AUGUST 29, 2023

Hotel operating costs Hotel operating costs encompass a wide array of expenses, from staff salaries, utility bills, and maintenance to marketing, guest amenities, and food & beverage supplies. Reduce your hotel’s marketing costs Paid promotion isn’t always guaranteed to garner more results.

Revenue 52

Revenue Hotels OTA Operations 52

Hotelogix

OCTOBER 18, 2023

This leads to better utilization of room inventory and maximizes occupancy rates. This increases visibility, boosts bookings, and helps hotels tap into new markets. Helps You Make Data-Driven Decisions Reservation systems offer detailed reports and analytics on occupancy rates, revenue, and guest preferences.

Business 40

Business Global Distribution System Cancellation Hotels 40

Little Hotelier

JULY 5, 2023

The amount of money you make will depend on how many rooms you have to rent out, your nightly rate, and your occupancy rate throughout the year. Note that most Airbnb listings are side gigs, so if you treat it like a business and you have multiple listings with high occupancy, you can earn significantly more.

Accommodation 52

Accommodation Motels Business Occupancy 52

Cloudbeds

MARCH 3, 2023

POS software plays an essential role in the hospitality industry, and the global POS software market is predicted to reach $19.56 Manual entries also prevent hospitality businesses from capturing data around guest spending patterns, which is critical for guest acquisition and marketing. billion USD by 2028. Data tracking.

Sales 98

Sales Hotels Revenue Revenue Management 98

SiteMinder

APRIL 11, 2024

Airbnb advertising primarily involves promoting individual accommodation listings and experiences hosted on the Airbnb platform to potential guests through various marketing channels. Cost-effective marketing. Pricing strategy : Use competitive pricing strategies that reflect market demand, seasonality, and local events.

Dining 98

Dining Hotels Average Daily Rate Target Marketing 98

SiteMinder

OCTOBER 11, 2022

Develop a better rapport with your target market segment. Hotel management software not only benefits returning guests but the technology will allow you to reach out to new markets that would not have discovered your brand. This will boost marketing efforts, allow you to share promotions, and encourage guest feedback.

Hotels 52

Hotels Management Revenue Management Revenue 52

StayNTouch

MAY 5, 2022

While targeted marketing and digital personalization are important components of a successful guest journey, they accomplish little if the guest has to wait in a long line for check-in, sleep in a hastily-cleaned room, or call multiple times to receive room service. .

Operations 52

Operations Hiring Hotels Services 52

Xotels

APRIL 3, 2024

This is done by thoroughly understanding your property, its customers, and the market. Understand your Hotel´s Market The success of your revenue management strategy depends on how well you understand your market. This is one of the first steps when creating a revenue management strategy, performing thorough market research.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

SiteMinder

MAY 21, 2023

Although the target market has since changed, what remains constant is the hotel’s standards and work ethic. This has minimised revenue loss from vacant rooms while maximising our occupancy rates.”

Resorts 98

Resorts Overbooking Yield Management OTA 98