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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.
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?
You want to make sure your hotel is available where your guests are looking, but also avoid overbooking or confusion about prices across multiple channels. Use a Channel Manager: A channel manager allows you to update your prices and availability across all platforms in real-time, avoiding any booking mistakes or confusion.
Plus, when you connect Tryp.com to SiteMinder’s channel manager, inventory and rate updates flow through automatically, preventing mismatches and accidental overbooking. Heather Minyard, Director of Commercial Strategy Smoky Mountain Resorts Read more How can you integrate tools and platforms with Tryp.com?
Despite that, nearly 45% of independent hotels still operate with partially integrated or disconnected platforms, leading to challenges such as overbooking, inconsistent pricing across channels, and lack of real-time visibility of interactions with travelers. This minimizes overbookings, billing mistakes, and service delays.
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.
“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. GuestJoy’s upsell feature has also been a revenue driver, especially for luxury or resort-type hotels. I can do more in less time.
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.
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.
Technology and exceptional customer support from STAAH help Hoi An River Beach Resort & Residences increase their global online footprint and drive growth. Located in the heart of Cua Dai Beach [Vietnam], Hoi An River Beach Resort & Residences offers a range of rooms with stunning views and top-class amenities.
In the fiercely competitive hospitality industry, the essence of successful resortrevenuemanagement 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?
Silavadee Pool Spa Resort Samui, a renowned 5-star establishment with over 14 years of operation, is nestled on the tranquil Lamai Beach in Surat Thani, Koh Samui. The resort boasts a mesmerising setting, characterised by magnificent rocks and boulders, offering direct views of the beach and ocean from its well-appointed rooms.
India’s Rudraksh Club & Resort improves bookings effectiveness and efficiency with the STAAH channel manager and hasn’t looked back since. Rudraksh Club & Resort is the first and only to offer private, spacious, and luxurious accommodation in the holy city of Ujjain [Madhya Pradesh].
Five decades of service Sunshine Hotels and Resorts is a Pattaya-based hospitality group with more than 50 years of experience in hotel management. From beachy resorts to convenient central city locations and party hot spots, Sunshine Hotels & Resorts offers something for everyone.
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.
Situated in a stunning valley, surrounded by lush rainforest and beautiful agricultural terraces, this award-winning resort offers incredible views of the Ayung River and Pura Dalem Segara. Located in the northern part of Ubud, Payangan is a village based in the middle of the Island of the Gods.
Running a small resort can be both rewarding and challenging. While you create unique experiences for your guests, managing daily operations is crucial to ensure smooth functioning and profitability. Below are the key tips for efficiently managing your resort property using modern management systems.
The property boasts 148 well-appointed rooms, an array of world-class resort-style facilities, including dining, a business centre and a wide range of retail outlets. We would highly recommend STAAH for any hotel looking to streamline their online distribution, direct bookings and revenuemanagement strategy,” adds Robert.
It is crucial that hotels closely manage distribution of rates and inventory to prevent revenue loss, overbooking, or increased fees from third-party channels. With correct and competitive rates across all channels, hotels present a positive image of their property wherever a guest may find it.
For example, if you have a hotel or resort near the ski area, your hotel will have more demand during winter and lower in the summer when there is no/little snow. During peak seasons, when rooms are in high demand, higher rates can help control the rate of bookings, preventing overbooking scenarios.
For guests who are looking for one of the most pleasant resorts in Carita, Anyer, Mutiara Carita Cottages is the place to be! In operation since the 1990s, nestled in the middle of forests and surrounded by hills and beaches, this eco-resort is an essential escape from the hustle and bustle of everyday life.
Does Booking.com include resort fees? Resort fees are not included in the standard commission charged by Booking.com. If your hotel charges additional resort fees, these need to be clearly communicated to guests and managed separately. Overbooking. How do Booking.com fees impact my hotel’s overall revenue?
Using data from various systems, including your PMS, revenuemanagement system (RMS) , and customer relationship management (CRM) system, hotels can strategically leverage data to implement dynamic pricing strategies and personalized, segmented, and tailored campaigns via their CRS. The revenuemanagement system (RMS).
Himmapana Villas experiences massive growth in direct bookings Located in the Kamala Beach area in Phuket, Thailand, are four dreamy luxury resorts that make up the Himmapana brand. With the Cloudbeds Booking Engine, your PMS and Channel Manager are automatically updated to prevent overbookings. Intelligent pricing.
It cuts out middlemen, ensuring the best rates for guests and higher hotel revenue. It also prevents overbooking and keeps everything in sync, allowing guests to tailor their stay preferences and enhance their experience. Whether a boutique bed and breakfast or a 500+ room resort, every hotel benefits from easy-to-use booking software.
This ensures that inventory levels, rates, and other crucial data are always current, reducing the risk of overbookings and other potential issues. From boutique properties to large resorts and even B&Bs, the platform caters to a diverse range of property types, showcasing its versatility. Eviivo vs SiteMinder: Which one to use?
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. Revenuemanagement. Increase bookings.
By establishing blackout dates, they can focus on high-revenue customers rather than discounted reservations and boost overall profits. Blackout dates are essential for efficient revenuemanagement as they enable hotels to: Increase Earnings – By managing discounts and promotions, hotels can set higher prices during busy periods.
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