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Think revenuemanagement is just for the big hotel chains or that it’s all about jacking up prices? Believe me when I say, as the COO of a revenuemanagement consulting firm, that at least one of the below misconceptions is draining your hotel’s profits faster than a leaky faucet.
In a move to modernise operations and streamline booking management, the hotel adopted STAAH’s distribution and revenuemanagement tools. This significantly reduced the risk of overbookings and improved operational efficiency. GCC is probably one of the first hotels to use STAAH almost a decade ago.
. “SiteMinder makes it incredibly easy to manage multiple distribution channels through its channel manager —including our own direct channels—offering a level of simplicity that’s unmatched in today’s market,” explains David.
How Hotels Can Leverage Mahakumbh 2025: Strategies for Success The Mahakumbh 2025 presents an extraordinary opportunity for hotels to boost revenue, build long-term guest relationships, and position themselves as leaders in the hospitality industry. Here’s how hoteliers can leverage this event effectively: 1.
Dynamic pricing isnt just about increasing ratesits about pricing smartly based on real-time demand, market trends, and competitor rates. AI-powered revenuemanagement doesnt just suggest price hikes; it ensures that your pricing aligns with demand fluctuations , maximizing revenue without turning potential guests away.
A channel manager for vacation rentals might prioritize weekly bookings, while hotels need daily rate adjustments. How to Pick the Right Channel Manager for Your Business There are hundreds of options in the market. Use your channel manager to integrate with your website and drive traffic there.
Established in 2016, RevenYou is a specialist consultancy firm supporting accommodation businesses across Australia, New Zealand, and the Pacific with revenuemanagement, sales, marketing, and systems integration. Unlocking profit for its clients has become synonymous with the brand over the years. Let’s look at five examples.
From making sure staff, guests, and smooth operations are all attended to, we can understand why revenuemanagement so frequently gets put on the back burners. So, let’s provide you with a list of revenuemanagement tools to simplify managing your hotel so much easier: What are RevenueManagement Tools?
STAAH’s tools helped standardise booking operations, enhance OTA performance and establish a tech-forward approach to revenuemanagement. The STAAH channel manager with its 200+ OTA connections helped improve reach and allows multiple channels to be managed through one single dashboard.
Use Dynamic Pricing: Automate Pricing with Tools: Use tools or software (like a Property Management System or PMS) to automate your pricing decisions. These tools can adjust your rates automatically, based on real-time data and market trends. If they lower their rates, you might need to adjust yours to stay competitive.
Hotel management can often feel like youre spinning plates – online travel agents (OTAs) sending bookings, guests booking directly on your site, and your front desk needing real-time updates to avoid the dreaded overbooking. Enter the channel manager. You can maximise occupancy and revenue without manual rate updates.
Additionally, the EU’s Digital Markets Act has given hotels more opportunities to compete with OTAs on pricing, leading to a shift in the competitive landscape. Even with these developments, rate parity remains common in many markets. Rate parity cons Paying commission on top of your lowest possible rate cuts into revenue.
Managing multiple OTAs can feel like walking a tightrope for hoteliersone wrong step can lead to overbookings, rate discrepancies or missed revenue. Overbookings: Inventory mismatches or delayed updates result in unhappy guests and operational chaos. The system even flags mismatches before they cause issues.
But here’s the good news: a streamlined, intuitive PMS UX can turn hotel operations around—boosting staff productivity, enhancing guest satisfaction , and improving hotel revenuemanagement. Channel Management Real-time inventory syncing across OTAs and direct booking platforms enhances accuracy and reduces overbooking.
Plus, when you connect Tryp.com to SiteMinder’s channel manager, inventory and rate updates flow through automatically, preventing mismatches and accidental overbooking. Localise content Describe nearby trails, markets and cultural spots in the same language your audience speaks. Key takeaways Trustpilot’s 4.7
Running a hotel in todays competitive market involves more than just offering comfortable rooms and great service. With the hospitality industry adapting to evolving guest expectations and the rapid growth of online booking platforms, managing hotel operations become increasingly complex.
Running a hotel today involves managing a complex network of systems from reservations, sales operations, communication channels , marketing tools, and distribution. This minimizes overbookings, billing mistakes, and service delays. Its a strategic move to streamline customer service across all touchpoints.
By integrating RateGainâs industry-leading UNO Channel Manager with Cloudbedsâ robust property management system (PMS), hoteliers can manage rates, inventory, content and reservations across 400+ distribution channels with ease and accuracy. Tonic POS is available to restaurants using OpenTable in the United States.
By integrating RateGain’s industry-leading UNO Channel Manager with Cloudbeds’ robust property management system (PMS), hoteliers can manage rates, inventory, content and reservations across 400+ distribution channels with ease and accuracy.
By integrating RateGainâs industry-leading UNO Channel Manager with Cloudbedsâ robust property management system (PMS), hoteliers can manage rates, inventory, content and reservations across 400+ distribution channels with ease and accuracy. Tonic POS is available to restaurants using OpenTable in the United States.
For example, during peak travel periods, an efficient reservations manager using a modern property management system (PMS) can swiftly allocate room blocks for group bookings or special events, maximising occupancy without overbooking. Efficiently managing OTAs and direct bookings is key to maintaining high occupancy rates.
Stand out by exceeding expectations in the crowded hospitality market. The Digital Landscape in 2025 Market Boom and Traveler Surge Our industry's cooking up a storm, hitting a mouth-watering $4.9 Data-Driven Hospitality Big data and AI are our new revenuemanagers, optimizing operations better than a seasoned GM.
This practice simplifies revenuemanagement, builds trust with booking partners, and avoids conflicts between platforms. Instead, start with 3–5 well-chosen OTAs that cater to your target market and region. At this point Channel Manager becomes invaluable.
“We needed a way to streamline communication between the front desk and guests because it takes up a lot of time,” says Jimmy Tang, RevenueManagementManager. On the analytics front, SiteMinder Insights has become an indispensable tool for revenuemanagement. I can do more in less time.
Opportunity—but only if you can navigate this red-hot market with the right strategies and tools. A robust cloud-based Property Management System (PMS) doesn't just streamline your operations—it transforms them. Meanwhile, nationwide hotel occupancy reached 67.5% What does this mean for you as a new hotelier ?
Overbooking can be a cost-effective strategy if implemented correctly. What is a hotel overbooking strategy? The hotel overbooking strategy is a revenuemanagement technique that hotels use to maximise occupancy and revenue. Tips to make your overbooking strategy a success 1) Be data-driven in your approach.
Overbooking is a common problem in the hospitality industry, causing major issues for both – hoteliers and guests. Striking the perfect balance between fully booked rooms and avoiding overbooking can be a challenging task. This is why our guide discusses how to avoid overbooking in hotels. Why Do Hotel Overbookings Happen?
Revenuemanagement (RM) is supremely necessary for hotels. I kid you not, most of the hotels refrain from opting for any sort of revenuemanagement services. The hotel revenuemanagement myths that are swirling around are the real reasons hotels are so skeptical about it. Who is to blame for it?
We have written extensively about hotel revenuemanagement strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenuemanagement, we have made a summary of all the top advice from our perspective as a hotel revenuemanagement consulting company.
Like many other areas in travel and hospitality, revenuemanagement has dramatically changed in the last two years. We spoke to leading revenuemanagers on what they think lies ahead. Revenuemanagers have had to up their ante on monitoring local trends and populace segments to get a better understanding of demand.
Hoteliers need to employ smart strategies to optimize revenue and profitability. One of the most powerful tools in their arsenal is a robust RevenueManagement Solution (RMS). This enables hoteliers to adjust room rates dynamically to maximize revenue based on current market conditions.
The hospitality industry is well acquainted with the concept of hotel overbooking. Although it is a common practice in hotel management, it has been a matter of debate particularly because of the complications it brings during peak hours. However, in cases of last-minute cancellations, your profit is badly impacted.
Dallas, USA – Brittain Resorts & Hotels (BRH), a leading full-service hospitality management company, has adopted SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, as part of its newly-announced business intelligence technology matrix.
Analyses showed that hotels with a solid revenuemanagement strategy came out of the Covid-19 crisis better than hotels without. In this article, you’ll learn how successful hoteliers handle pricing strategies during the post-covid era, and how to deal with spillage, spoilage, overbooking, and overselling.
In the fiercely competitive hospitality industry, the essence of successful resort revenuemanagement lies in data-driven decision-making. This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Why is RevenueManagement Imperative for Resorts?
Revenuemanagement is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. These frontline employees are instrumental in shaping the guest experience, impacting occupancy rates, and ultimately driving revenue.
Channel ManagerManaging multiple distribution channels, from Online Travel Agents (OTAs) to direct bookings, can be complex without the right tools. A channel manager automates this process, syncing room rates and availability across all platforms, reducing the risk of overbookings or pricing discrepancies.
July 3, 2024— DerbySoft , specialists in high-performance distribution services, announced a new partnership with IDeaS , a SAS company, provider of hospitality revenuemanagement software and services, that strategically provides operational and revenue-enhancing benefits for hotels of all types.
Effective hotel inventory management relies on technology solutions like Property Management System s (PMS), Channel Managers, and RevenueManagement Systems (RMS) to automate tasks, analyze data and make informed decisions. This prevents overbooking and rate disparities, enhancing the guest experience.
We have written extensively about hotel revenuemanagement strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenuemanagement, we have made a summary of all the top advice from our perspective as a hotel revenuemanagement consulting company.
What is Yield Management? Yield management is a pricing and revenuemanagement 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. But the evolution doesn’t stop there.
Although the target market has since changed, what remains constant is the hotel’s standards and work ethic. Recognising the need for technology, the team turned to SiteMinder’s channel manager as the solution to expand sales channels effortlessly. Previously, the resort handled all tasks manually, which was time-consuming.
STAAH channel manager solves connection priorities With already a plateful to manage; not to mention reduced staff post-Covid-19, the idea to automate room distribution and pricing management was a very attractive opportunity and something STAAH could easily manage. It informs effective and profitable decision-making.
One of the components needed to apply a hotel revenuemanagement is market segmentation. It allows you to target and market to a variety of consumer groups with different behaviour with an offer that matches their needs and budget level. What is Hotel Market Segmentation? Benefits of Hotel Market Segmentation.
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