Hotel Business

JANUARY 24, 2024

“The data is another proof point that occupancy levels have more than stabilized, making for a meaningful rise in RevPAR for our customers.” “The data is another proof point that occupancy levels have more than stabilized, making for a meaningful rise in RevPAR for our customers.” ” For the U.S.

Upsell 59

Upsell Occupancy Travel Revenue 59

Hotel Speak

JANUARY 25, 2024

The data is another proof point that occupancy levels have more than stabilized, making for a meaningful rise in RevPAR for our customers,” said Matt Welle, Mews CEO. While parking spots and meeting rooms have played a huge role in this, 2024 will be the year that more hoteliers revolutionize revenue management.

Average Daily Rate 76

Average Daily Rate Revenue Travel Upsell 76

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

eZee Absolute

MAY 7, 2024

But hotel revenue management can be your secret wand. Revenue management is about more than just the right pricing. It’s about knowing what guests need, predicting bookings, and adjusting rates to make more revenue. In the ever-competitive world of hospitality, staying ahead can be a real challenge.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

SiteMinder

OCTOBER 10, 2023

Discount pricing is a revenue management strategy where prices are lowered temporarily or for certain conditions to attract guests and boost occupancy rates. Monitoring market demand and adjusting discount pricing accordingly can help maximise occupancy and revenue. What is discount pricing?

Occupancy 59

Occupancy Events OTA Upsell 59

STAAH

JANUARY 16, 2024

In this blog, we share some simple tactics and ideas that can boost your hotel’s revenue. There is no set formula to increase a hotel’s revenue, it can be achieved by creating a good promotion plan, tapping into sources of ancillary revenue , upselling and other marketing strategies. Optimise ancillary revenue.

Revenue 85

Revenue Ancillary Revenue Revenue Management Hotels 85

SiteMinder

JULY 25, 2022

It’s a key metric for you to measure and track if you want to build an effective hotel revenue management strategy. By looking at ADR, you can easily start to strategise ways to boost your bookings and revenue. With higher occupancy, you have more chances to win revenue from guests during their stay.

Average Daily Rate 52

Average Daily Rate Upsell Occupancy Revenue 52

Catala Consulting

DECEMBER 28, 2023

Such as check-in kiosks, new upselling tools, a full new automated email campaign, … To further enhance guest experiences, hoteliers can experiment employing technology such as artificial intelligence and machine learning to predict guest preferences and personalize services. Why Catala Consulting’s Outsourced Revenue Management?

Management 52

Management Revenue Management Revenue 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. Upsells and add-ons. 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

NOVEMBER 6, 2023

What is hotel revenue optimisation? As a small, independent hotelier you may have heard the terms hotel revenue optimisation and hotel revenue management. So what is revenue optimisation? Upselling and cross-selling Grab upselling and cross-selling opportunities with both hands.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Little Hotelier

OCTOBER 17, 2023

Learn more Strategies to increase hotel revenue There are a lot of strategies that can be used to increase hotel revenue – but it’s important to be focused and committed to the plans you make. You can also upsell food and beverage offers or create them as part of a package.

Revenue 100

Revenue Hotels OTA Ancillary Revenue 100

Amadeus Hospitality

AUGUST 24, 2023

The latest data from Amadeus’ Demand36 0® reflects this, with on-the-books global hotel occupancy rates for H1 2023 trending above 2022 and 2021 levels, and just 3 points behind those seen in 2019. Now, hoteliers can launch more precise revenue management and marketing strategies without the guesswork or reliance on historical data.

Travel 52

Travel Average Daily Rate Marketing Strategy Occupancy 52

AskSuite

JULY 20, 2023

It begins with laying out realistic targets, then on-point upselling and cross-selling, culminating in the art of tailoring unique sales alternatives. Key strategies for upselling and cross-selling Upselling and cross-selling aren’t just about making quick sales, but rather enhancing the guest experience while maximizing profits.

Management 52

Management Business Upsell Marketing Strategy 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

Inn Quest

JUNE 8, 2023

Here’s how it works: Sensors, cameras, and smart thermostats collect data about the room environment (temperature, humidity, lighting conditions, occupancy) which is sent for analysis. Through this method, AI can identify upselling opportunities by leveraging guest preferences and historical data.

Hospitality 54

Hospitality Upsell Services Operations 54

SiteMinder

JANUARY 8, 2024

Types of hotel management If we zoom in on accommodation management, it too can be divided into a few different categories, which reflect the broad range of tasks and challenges that hotel management presents. You’ll need smart revenue management and pricing strategies if you want to optimise your Average Daily Rate (ADR).

Operations 59

Operations Management OTA Hotels 59

Little Hotelier

MAY 31, 2023

Increase occupancy rates, attract more customers A full room is almost always better than an empty room, and by allowing guests to name a price that they’re comfortable with, you’ll attract more. Read on for the full guide to hotel bidding sites and how they can work for your small accommodation business. There are a few good reasons.

Hotels 52

Hotels Revenue Upsell ROI 52

SiteMinder

JANUARY 8, 2024

Types of hotel management If we zoom in on accommodation management, it too can be divided into a few different categories, which reflect the broad range of tasks and challenges that hotel management presents. You’ll need smart revenue management and pricing strategies if you want to optimise your Average Daily Rate (ADR).

Operations 52

Operations Management OTA Hotels 52

STAAH

MAY 16, 2023

Hotel room pricing is a critical element of revenue management for hotels. Hotel managers and revenue managers use data analysis and revenue management tools to determine the optimal price for each room based on various factors such as occupancy rates, booking trends, and competitor rates.

Revenue Management 86

Revenue Management Upsell Occupancy Rack Rate 86

Cloudbeds

FEBRUARY 15, 2023

For example, GAC is typically higher in low seasons when room rates and occupancy are lower, and lodging properties spend more on marketing campaigns. Acquisition costs may be distributed across departments – not only to sales and marketing but also to revenue management, the IT department, rooms, and food & beverage, among others.

OTA 52

OTA Cost Per Click Revenue Market 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 9, 2024

Moreover, the flexibility to enhance property performance with specialized add-ons allows for tailored optimization in key areas, including operations, revenue management, guest experience, and digital marketing. Upselling tools. Event Temple for venue management to facilitate efficient event coordination. Room controls.

Upsell 52

Upsell Revenue Management Operations Revenue 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.

Revenue Management 98

Revenue Management Revenue Hotels Operations 98

Inn Quest

MAY 11, 2023

By drawing in more visitors, raising occupancy rates and enhancing profitability, a thoughtful pricing strategy can help hotels maximize their revenue. Hotels can ensure they earn the most revenue from each of their properties by optimizing prices. Group Pricing: Another effective hotel pricing strategy is group pricing.

Revenue 88

Revenue Occupancy Hotels Market 88

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

MARCH 15, 2023

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. These types of promotions are great for when you need to fill occupancy fast and should not be used all the time.

OTA 98

OTA Revenue Travel Hotels 98

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 Speak

MAY 9, 2023

Upselling and cross-selling: track guest preferences and booking history, allowing hotels to offer personalised upsell and cross-sell offers. This approach can lead to the creation of fresh revenue streams, heightened competitiveness, and a renewed brand appeal.

Upsell 59

Upsell Hotels Revenue Operations 59

Hotelogix

OCTOBER 19, 2023

  Revenue Management System: It simplifies the process of revenue management or room pricing - the most complex task. The primary objective is to help hotels sell more at the best rates to the right guest to boost occupancy and revenue. 

Hotels 52

Hotels Revenue OTA Management 52

Cloudbeds

JUNE 26, 2023

The hotel property management system was conceived back in the 1980s as a means of automating tasks and creating efficiencies related to front-office operations. These apps not only make hoteliers more agile in day-to-day operations, but they also help increase revenue and deliver a remarkable guest experience.

Operations 52

Operations Revenue Management Revenue Digital Marketing 52

Cloudbeds

MARCH 3, 2023

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. Wherever guests are, your team can maximize incremental revenue opportunities. Upselling opportunities. What is a POS system for hotels?

Sales 98

Sales Hotels Revenue Revenue Management 98

Cloudbeds

MARCH 23, 2023

Consider adding a live chat widget to answer questions in real-time to guide them through the booking process and increase upselling opportunities. Using a guest messaging tool , you can manage your conversations across channels through a single app for fast response times and an improved customer experience.

OTA 98

OTA Digital Marketing Travel Hotels 98

STAAH

NOVEMBER 22, 2022

In a hotelier’s case or any accommodation provider, selling rooms is the main product to reach full occupancy. There are plenty of upselling tools available. The second P in the formula is the price which is the only revenue-generating element of the mix. Find out more here. PRICE – Room price/deal.

Hotel Marketing 74

Hotel Marketing Market Marketing Hotels 74

SiteMinder

OCTOBER 10, 2023

Transform your Hotel's data strategy Harness the potential of your hotel's data and redefine your revenue management approach with SiteMinder’s platform. What sets UpStay apart is its unique approach to upselling. Learn more How do you collect hotel data?

Hotels 52

Hotels Upsell Management Travel 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