Hotel Business

SEPTEMBER 15, 2023

Eister There are many myths about revenue management, but there are five we hear most often. Myth #1: Revenue management is only essential when business is booming. Revenue management is a fundamental part of business, especially in such a dynamic industry as hospitality. By Craig V.

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Revenue Management Revenue Management Forecasting 64

Catala Consulting

JULY 30, 2023

In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Why is Revenue Management Imperative for Resorts?

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Revenue Management Revenue Resorts Management 52

Refine

JANUARY 29, 2023

Upsells are a simple, straightforward way to drive more revenue, increase engagement, and build customer loyalty. Implementing the right upsell strategy can improve the guest experience and your bottom line.

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Upsell Travel Revenue Business 73

Refine

DECEMBER 11, 2022

Few hoteliers use front desk upselling to the max. Not only do the front desk employees need to stay up to speed with all the upselling deals, but they also need to be comfortable using essential communication skills and marketing techniques. In short, to get it right, you need to read each situation correctly and.

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Upsell Market Marketing Revenue Management 59

eHotelier

JANUARY 10, 2023

Oaky is excited to announce that it has been selected 2023’s #1 Upselling Software by Hotel Tech Report 6th year in a row.

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Upsell Hotels Revenue Management Revenue 52

The Cosmos

JANUARY 23, 2023

Hotel revenue management is an important tool for hoteliers to use in order to maximize profits and remain competitive in a crowded industry, but it is a complex machine. This blog delves into hotel revenue management : what it is, how it works, and the critical role it plays in a hotel’s overall success.

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STAAH

APRIL 9, 2024

All employees are revenue management ambassadors for their organisations. Everyone contributes to the revenue success of a business in both direct and non-direct ways. The impact of operational performance on revenue cannot be overlooked.

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Revenue Operations Revenue Management Upsell 91

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.

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Revenue Management Revenue Management Ancillary Revenue 76

STAAH

FEBRUARY 6, 2024

The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. 3) Pre-arrival upselling can beef up your overbooking strategy and make it more profitable. Overbooking can be a cost-effective strategy if implemented correctly. What is a hotel overbooking strategy?

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Overbooking Cancellation Upsell Revenue 87

Hotel Business

MARCH 5, 2024

Travel sellers have access to enhanced data sharing and revenue management, while hotels benefit from enhanced customer experiences.

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Travel Upsell Revenue Revenue Management 72

Hotel Business

APRIL 5, 2024

Additionally, they have employed clever, dynamic revenue management strategies to ensure their prices reflect the demand.” This will maximize their opportunities to upsell to today’s experience-led, deal-hungry travelers, thereby further increasing their revenue.”

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Occupancy Upsell Revenue Revenue Management 64

Hotel Business

JANUARY 24, 2024

While parking spots and meeting rooms have played a huge role in this, 2024 will be the year that more hoteliers revolutionize revenue management. of guests added an upgrade to their reservation while checking in, with an average upsell value of $48. ” For the U.S. Online check-ins and upgrades continue to increase.

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Upsell Occupancy Travel Revenue 59

Hotel Business

MAY 11, 2023

That includes helping us deliver new innovations to hotels such as room upselling, integrated revenue management and mobile housekeeping management, among others, all on a global scale.”

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Scale Revenue Management Upsell General Manager 52

Hotel Speak

JANUARY 25, 2024

While parking spots and meeting rooms have played a huge role in this, 2024 will be the year that more hoteliers revolutionize revenue management. of guests added an upgrade to their reservation while checking in, with an average upsell value of $48. Online check-ins and upgrades continue to increase.

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Average Daily Rate Revenue Travel Upsell 77

Mews

JULY 11, 2023

A question on every hotelier's mind: how to generate more revenue in a hotel. While there's no tried and tested solution, it can be achieved by creating a good promotion plan, tapping into sources of ancillary revenue, upselling, and other marketing strategies.

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Ancillary Revenue Revenue Upsell Marketing Strategy 52

SiteMinder

SEPTEMBER 19, 2022

Upselling – Any action you take at your hotel should benefit the guest first and foremost but if you can find ways to increase revenue too, all the better. The timing, tone, and regularity with which you upsell is the key to the success of your efforts. Beonprice – Revenue management.

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Management Upsell Hotels Revenue 97

Mews

OCTOBER 16, 2023

Since then, the humble SMS has become a part of daily life, and that makes it a great means to engage with guests – and boost revenue for your business. The new Mews SMS add-on is a simple way to improve the guest experience, cut down manual tasks for staff, and generate more upsells.

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Revenue Upsell Management Business 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?

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Management Revenue Management Revenue Hotels 52

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.

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Revenue Ancillary Revenue Revenue Management Hotels 82

Cloudbeds

APRIL 8, 2024

It can be customized to fit your brand, cater to international audiences with multi-language and currency options, and offer add-ons or upsells to help you increase revenue. Upsells and add-ons. With the Cloudbeds Booking Engine, your PMS and Channel Manager are automatically updated to prevent overbookings.

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OTA Upsell Average Length of Stay Revenue 98

Hotel Business

MARCH 14, 2024

Furthermore, AI can facilitate predictive analytics to forecast demand patterns accurately, allowing hotels to allocate resources efficiently and optimize inventory management. This proactive approach minimizes the risk of overbooking or underutilization of rooms, ultimately improving revenue management and operational efficiency.

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Overbooking Revenue Upsell Forecasting 59

Amadeus Hospitality

MARCH 5, 2024

Travel sellers enjoy enhanced data sharing and revenue management, while hotels benefit from enhanced customer experiences. The Leisure Connect portfolio streamlines hotel content distribution by connecting hoteliers and travel sellers throughout the booking process and eliminates the need for multiple content provider integrations.

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Revenue Upsell Travel Hotels 59

STAAH

DECEMBER 12, 2023

During peak holiday periods, consider adopting a revenue management system that factors in various parameters such as historical booking data, competitor pricing, local events, and even weather forecasts. This not only adds value for guests but also allows hotels to upsell services and capture diverse customer preferences.

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Refine

NOVEMBER 30, 2023

A revenue management strategy is a common practice among hotels. What’s less common is having an ancillary revenue strategy, though. It’s one of the first steps to unlocking a new, powerful revenue stream and improving the hotel’s positioning and branding while enhancing the guest experience.

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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. Why is ADR important in the hotel industry? ADR is a quick and effective method of measuring your hotel’s performance.

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Average Daily Rate Upsell Occupancy Revenue 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.

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Management Business Upsell Marketing Strategy 52

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.

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Revenue Average Length of Stay Average Daily Rate Hotels 59

STAAH

OCTOBER 24, 2023

This not only boosts your profits but also allows you to establish a direct relationship with your guests, making upselling and future marketing more effective. This blog has been written by Edwin Saldanha – Marketing Director at STAAH and originally published in STAAH’s e-book Beginners Guide to Revenue Management

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OTA Revenue Upsell Market 76

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. Upselling Discounts attract more guests, providing ample opportunities for upselling or cross-selling other services. What is discount pricing?

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STAAH

NOVEMBER 15, 2022

From the accurate representation of preferred OTAs via a channel manager to an easy-to-use and secure website booking engine data collection, revenue management and online review management , anything that gets you a step closer to making the guest experience better , is a must-have for modern hoteliers.

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Hospitality OTA Travel Upsell 82

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.

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Revenue Hotels OTA Ancillary Revenue 100

Hotel Operations

JULY 21, 2023

The availability of data has grown so much that today, hoteliers can look more holistically at all the revenue outlets across their property and determine which areas are contributing the most to the bottom line. Billy’s career with Sea Island Resort has spanned three decades and focused on revenue functions for the last 20 years.

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Resorts Revenue Revenue Management Operations 52

Amadeus Hospitality

JUNE 9, 2023

Katie Moro, VP Data Partnerships, BI & Data Products will speak at the co-located HSMAI ROC conference , on a panel addressing Evolving Consumer Segments: Insights for Revenue Management on Wednesday, June 28 at 10:30 am. Schedule a meeting with us at HITEC here.

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Travel Hospitality Events Operations 98

Hotel Speak

JUNE 22, 2023

With this seamless and end-to-end integration, Hotelogix aims to help hotels efficiently upsell and increase direct bookings for more revenue. It will, in turn, help hotels identify the guests’ spending patterns and present them with upselling opportunities.

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Upsell Revenue Hotels Online Marketing 59

Amadeus Hospitality

AUGUST 24, 2023

Power revenue and marketing strategies with forward-looking data It’s a competitive world out there, but having access to the latest business intelligence solutions enables hoteliers to identify booking trends, optimize rate strategy, and track forward-looking market insights.

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Travel Average Daily Rate Marketing Strategy Occupancy 52

Clock Software Hospitality

NOVEMBER 3, 2020

After all, the biggest part of the job is securing, more lucrative guests who expect you to show a degree of flexibility in making arrangements for their stay in exchange for the appropriate upsell. Improve Revenue Management Revenue management tools are the height of innovation in hospitality technology.

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Hospitality OTA Revenue Management Hotels 52

Inn Quest

JUNE 8, 2023

Upselling using Personalized Recommendations: Using machine learning techniques, AI algorithms analyze guest data collected from hotel management system s. Through this method, AI can identify upselling opportunities by leveraging guest preferences and historical data.

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Hospitality Upsell Services Operations 54