Inn Quest

SEPTEMBER 5, 2023

Effective hotel inventory management relies on technology solutions like Property Management System s (PMS), Channel Managers, and Revenue Management Systems (RMS) to automate tasks, analyze data and make informed decisions. This prevents overbooking and rate disparities, enhancing the guest experience.

Management 87

Management Overbooking Revenue Hotels 87

STAAH

OCTOBER 15, 2023

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.

Overbooking 83

Overbooking Occupancy Accommodation Resorts 83

Xotels

APRIL 3, 2024

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.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Cloudbeds

APRIL 30, 2024

A question that likely keeps you up at night is, ‘How can I boost revenue per available room (RevPAR) and outpace my competitors?’ It’s the bedrock of hotel revenue management , and for good reason. Prices change dynamically (hence the name) using real-time data to maximize your revenue and occupancy rates.

Revenue Management 52

Revenue Management Revenue Occupancy Hotels 52

Inn Quest

APRIL 5, 2023

Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yield management in hotels, particularly in hotel revenue management. Yield management is a pricing strategy that predicts customer demand and adjusts prices to maximize revenue.

Yield Management 88

Yield Management Management Occupancy Revenue 88

Inn Quest

AUGUST 8, 2023

Offering competitive rates during off-peak seasons allows hotels to remain active in the market and attract guests even when other competitors might be struggling to maintain occupancy. During peak seasons, when rooms are in high demand, higher rates can help control the rate of bookings, preventing overbooking scenarios.

Overbooking 88

Overbooking Hotels Occupancy Revenue 88

Hotelogix

FEBRUARY 13, 2024

  Online distribution Managing online distribution across various channels (OTAs, direct bookings, GDS) without an integrated system is arduous in today's digital age. Plus, it leads to complexities such as rate parity/inventory disparity, overbookings, and guest dissatisfaction. 

Management 59

Management Hotels Revenue Management Occupancy 59

Little Hotelier

MARCH 10, 2024

Manage your hotel sales with the best software in the market Use Little Hotelier’s revenue management features to manage your hotel sales and boost hotel bookings. This integration streamlines the management of bookings, guest information, and operational tasks, enhancing efficiency and data consistency.

Hotel Sales 52

Hotel Sales Sales Revenue Management Revenue 52

Inn Quest

SEPTEMBER 12, 2023

Seasonal Demand and Revenue Management: Many hotels face seasonal fluctuations in demand, with peak periods followed by slower periods. Effective revenue management is crucial to optimize room rates, occupancy levels, and overall revenue. Consider partnering with local suppliers for fresh, unique offerings.

Operations 88

Operations Management Revenue Revenue Management 88

Inn Quest

FEBRUARY 1, 2023

Hoteliers can also use a channel manager to seamlessly connect with popular OTAs such as booking.com, Expedia, AirB&B, etc. Integrated platforms help increase the hotel’s visibility, maximize occupancy, and decrease overbookings. A Revenue Management System can simplify distribution and increase conversion.

Management 88

Management Consumer Hotels Overbooking 88

SiteMinder

NOVEMBER 15, 2022

Hotel overbookings can be a divisive topic. Some hoteliers love using this strategy to boost their revenue and protect their property from losing out due to last-minute cancellations. However, you can minimise the risk of having to walk travellers if you have a solid overbooking strategy. What happens when a hotel overbooks?

Overbooking 52

Overbooking Cancellation Occupancy Closing 52

SiteMinder

OCTOBER 5, 2023

Comprehensive tools : From managing reservations to enhancing the guest experience, Expedia Partner Central provides a range of tools tailored to the needs of hoteliers. You can quickly gauge your booking status, helping you keep track of occupancy and upcoming guest arrivals. A particularly useful feature is the rate management tool.

Average Daily Rate 59

Average Daily Rate Hotels Management OTA 59

Little Hotelier

JUNE 30, 2023

As an owner or manager of a small hotel, it’s vital to comprehend the cancellation policies of online travel agencies (OTAs) such as Expedia. This understanding is key to efficiently managing your bookings, enhancing the satisfaction of your guests, and optimising your revenue management.

Cancellation 52

Cancellation Revenue Revenue Management Overbooking 52

Clock Software Hospitality

NOVEMBER 3, 2020

Manage Room Inventory Your hotel’s occupancy is the main metric by which you judge how well your business is doing at the moment. But as you know it is often easy to book out, if you go low enough with room rates, that said, booking out does not necessarily translate to improved revenue or guest loyalty.

Hospitality 52

Hospitality OTA Revenue Management Hotels 52

Cloudbeds

APRIL 8, 2024

Many hoteliers question if it’s worthwhile investing in a direct booking strategy or if they can solely rely on online travel agencies (OTAs) like Airbnb, Booking.com, or Trip.com to fill occupancy. With the Cloudbeds Booking Engine, your PMS and Channel Manager are automatically updated to prevent overbookings.

OTA 98

OTA Upsell Average Length of Stay Revenue 98

Little Hotelier

AUGUST 1, 2023

Priceline’s ‘Express Deals’ is another feature that can help increase your hotel’s occupancy. However, this can also lead to a reliance on last-minute bookings, which can make revenue management more challenging. Express deals How does Priceline express deals work for hotels?

Hotels 52

Hotels OTA Travel Overbooking 52

Hotelogix

NOVEMBER 30, 2023

You can charge higher when demand is high and lower when demand is low to keep your hotel at maximum occupancy. This will ensure real-time rate and inventory updates across all OTAs to avoid overbookings and loss of business opportunities. It refers to forecasting demand based on industry trends, current bookings, and past data.

OTA 59

OTA Hotels Online Sales Market 59

AskSuite

JULY 20, 2023

By implementing a clever hotel booking system , you can manage availability, set dynamic pricing, and reduce the chance of overbooking. Additionally, technology can offer valuable insights into guest behavior, enabling you to tailor offers and maximize occupancy rates. RMS Predicting customer behavior is a must.

Management 52

Management Business Upsell Marketing Strategy 52

SiteMinder

OCTOBER 11, 2022

Cloud-based PMS solutions are a superior way to automate and accelerate all the important processes at your hotel including; Taking and confirming bookings, Managing reservations, Generating bills and reports, Check-in/out, Room transfers, Checking/editing availability, Guest communication. Revenue management. Increase bookings.

Hotels 52

Hotels Management Revenue Management Revenue 52

Cloudbeds

APRIL 15, 2024

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.

Revenue Management 98

Revenue Management Hotels Operations Revenue 98

Cloudbeds

APRIL 2, 2024

A hotel central reservation system is a core software platform that manages all reservations for a hotel and provides a centralized repository of the inventory of rooms on sale and their characteristics (e.g., room types, maximum occupancy, stay restrictions, etc.), The revenue management system (RMS). Busy Rooms.

Revenue Management 52

Revenue Management Occupancy Revenue Hotels 52

Cloudbeds

FEBRUARY 28, 2024

The reservation system acts as the central hub of the reservation ecosystem, which may also include a website booking engine, channel manager, and revenue management system. When integrated, these modules work together to help hotels manage room availability, distribution, reservations, and revenue. Guestcentric.

Revenue Management 98

Revenue Management Revenue Hotels Operations 98

SiteMinder

MARCH 20, 2024

We had to navigate through the extranets of each channel, often leading to overbooking or missed revenue opportunities,” she explained. Leveraging SiteMinder’s insights and pricing tools, the hotel swiftly adapted its strategies to capitalise on emerging opportunities, resulting in enhanced revenue and occupancy rates.

Revenue 98

Revenue Branding Overbooking Operations 98

SiteMinder

OCTOBER 10, 2023

As unpredictable as it can be at times, especially after the COVID-19 pandemic, forecasting is still an important part of running a hotel and being able to make strategic revenue management decisions. Occupancy rate The occupancy rate indicates the percentage of rooms occupied over a specific period.

Forecasting 52

Forecasting Revenue Average Daily Rate Occupancy 52

SiteMinder

MAY 21, 2023

Silavadee Pool Spa Resort emphasises that “since implementing SiteMinder, we have experienced a significant increase in online bookings, up to 60%, through effective yield management strategies based on market trends. This has minimised revenue loss from vacant rooms while maximising our occupancy rates.”

Resorts 98

Resorts Overbooking Yield Management OTA 98

SiteMinder

AUGUST 29, 2023

Think about introducing occupancy sensitive cooling and heating systems that adapt to when people are present in the room. This minimises the amount of administrative time that needs to be spent updating the various booking channels, decreases operational costs and virtually eliminates the risk of overbooking rooms at exclusive properties.

Revenue 52

Revenue Hotels OTA Operations 52

SiteMinder

NOVEMBER 22, 2023

Hotel problems often revolve around managing guest expectations, maintaining operational efficiency, and ensuring financial profitability. Common issues include inconsistent customer service, challenges in managing online reputation, and fluctuating occupancy rates.

Overbooking 52

Overbooking Hotels Revenue Occupancy 52

SiteMinder

JUNE 8, 2022

As unpredictable as it can be at times (especially through the COVID-19 pandemic), forecasting is still an important part of running a hotel and being able to make strategic revenue management decisions. What is hotel revenue forecasting? Your occupancy rate. Your total revenue. Table of contents.

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

SiteMinder

DECEMBER 7, 2023

This strategy is crucial for enhancing both occupancy rates and the average daily rate (ADR), directly influencing the hotel’s financial performance. Table of contents Why does hotel rate management matter? Mastering the art of rate management is crucial for thriving (not just surviving) in an ever-competitive hotel landscape.

Management 59

Management Average Daily Rate Occupancy Revenue 59

Hotel Speak

JULY 4, 2023

They can work with a hotel channel manager to ensure real-time distribution of rates and inventories across OTAs for better visibility, more sales, and zero overbookings. Large hotel groups can witness many benefits with Cloud-based Hotel PMS, more precisely, a Hotel PMS with multi-property management capabilities.

Hotels 52

Hotels Revenue Management Revenue Occupancy 52

Cloudbeds

JUNE 8, 2023

From increasing occupancy to generating direct bookings and increasing ADR, lodging operators have a lot on their plate. To keep it simple, we’ll only consider room revenue. At full occupancy , that’s $6,375 in potential revenue each day. At its average occupancy rate of 72%, the average revenue per night is $4,590.

Management 98

Management Hotels Revenue Digital Marketing 98

Hotel Operations

FEBRUARY 12, 2023

We tend to have an occupancy rate of around 90% throughout the year and outperform STR market benchmarks by up to 30-40%. If the same person at the end is responsible for revenue and operational decision-making, you will impact both sides of the business and you’re not going to have the best outcome.

Operations 52

Operations Real Estate Hotels Revenue 52

SiteMinder

JUNE 29, 2023

What is an OTA channel manager? An OTA channel manager is a tool used to manage online travel agents (OTAs) in a single platform. It is commonly used by hotel sales and revenue managers to update rooms and rates in real-time. How does an OTA channel manager work?

OTA 52

OTA Management Revenue Occupancy 52

Hotelogix

OCTOBER 19, 2023

It improves a hotel's online visibility and sales while eliminating overbooking.    Revenue Management System: It simplifies the process of revenue management or room pricing - the most complex task. Most importantly, direct bookings help hotels save on booking commission costs. 

Hotels 52

Hotels Revenue OTA Management 52

Cloudbeds

JULY 15, 2023

For growing hospitality businesses, a channel manager is a fundamental part of successful revenue management and distribution strategy. In this guide for hospitality professionals, you’ll learn all about Channel Managers, from how they work to what makes great software for your business specifically.

Management 76

Management OTA Cancellation Overbooking 76