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5 Common Mistakes in Hotel Revenue Management

Xotels

Ive been in the revenue game for 20+ years, and let me tell you nothing grinds my gears like watching hotels leave money on the table. Not because of the market. So, Im calling the mistakes out Here are 5 brutal revenue management mistakes I see hotels make all the time as a CEO of a revenue management consulting firm.

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The OTA Balancing Act: How a Channel Manager Helps You Win More Bookings

STAAH

Managing multiple OTAs can feel like walking a tightrope for hoteliersone wrong step can lead to overbookings, rate discrepancies or missed revenue. Rate disparities: Inconsistent pricing can lead to OTA penalties, lower rankings, and guest mistrust. The system even flags mismatches before they cause issues.

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Hotel revenue management strategies and solutions

SiteMinder

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?

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7 Hotel Revenue Management Trends & Innovations of 2024

STAAH

As technology continues to evolve, so do the strategies and innovations within revenue management. Let’s delve into some of the key trends shaping the future of revenue management in the hotel industry: 1.

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Survey Results: Revenue Management Trends & Predictions for 2024

Hotel Speak

The annual Duetto Revenue Management Trends & Predictions Survey results are in! More than half, 57.1%, said revenue management was more important to their business than the previous year. are currently using a revenue management system (RMS), up from 82.3% This is the third annual survey from Duetto.

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How decision intelligence unlocks hotel data for better insights

Cloudbeds

For years, the gold standard guiding business strategies for hotels has relied heavily on historical data, analyzed a few times a year (at best), making it difficult to swiftly respond to changing market conditions. For hotels, this includes making dynamic rate suggestions and identifying segments and offers for marketing campaigns.

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The Citi Residenci Hotels: Building a Smarter Hospitality Future with STAAH

STAAH

STAAH’s tools helped standardise booking operations, enhance OTA performance and establish a tech-forward approach to revenue management. The STAAH channel manager with its 200+ OTA connections helped improve reach and allows multiple channels to be managed through one single dashboard.