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Use revenue tech to your advantage Revenue management systems (RMSs) have evolved to provide smarter segmentation and demand forecasting to tighten levels of granularity. Think TRevPAR over ADR Shifting focus toward optimizing total revenue per available room (TRevPAR) instead of purely occupancy or ADR can unlock performance gains.
To strengthen margins, hotels should look to successful upselling models. The result is untapped revenue and a missed opportunity to enhance the guest experience. By adopting a proactive upselling culture, hotels can bridge this gap, engage guests more effectively, and unlock a powerful incremental revenue stream.
If there’s a sudden change, for example, an influx of last-minute bookings hits the system, the platform can enable revenue managers to adjust room rates dynamically to maximize revenue. DI can also be more proactive and suggest upsells tailored to guest profiles and booking patterns. Why it’s important for hotels?
By shifting the focus from purely "renting out meeting rooms" to attracting the maximum number of delegates and maximizing the spend per delegate , hotels gain a deeper understanding of their true revenue-generating potential. Sales : Converts high-potential leads into booked events and upsells delegates on premium offerings.
No need to obsess over RevPAR or lose sleep over ADR – there are much more important metrics out there for revenue managers. Revenue management is not a walk in the park. The latest guide by Mews, the industry-leading hospitality cloud, explores the new success metrics for revenue managers. Get your copy here.
The right sales tactics can help increase revenue, boost occupancy rates , and ensure guests have a positive experience. By encouraging guests to book directly through your website, you can keep more of the revenue and build stronger relationships with your guests. Implement Dynamic Pricing for Optimal Revenue What is Dynamic Pricing?
Additionally, hotels can schedule campaigns at optimal touchpoints during a guests stay, including breakfast promotions, happy hour reminders, or exclusive upselling opportunities. During the Stay Timely updates on on-site events, loyalty programme offers, or promotional campaigns to boost in-stay revenue.
Advanced Strategies to Maximize Revenue a. Dynamic Pricing: Real-Time Revenue Optimization c. Todays winners in hospitality are those who use tools like a Channel Manager not only to sync availability but to maximize revenue, streamline operations, and build a resilient digital strategy. The New Age of Hotel Distribution 2.
Maximize versatility and functionality Versatility turns a standard pool deck into a multifunctional venue-ready space and a major revenue generator. Each event is another revenue stream, and guests eat it up—they’d rather stay on property for their special moments than venture elsewhere. The smartest pool decks do double duty.
Boost hotel profitability in 2025 by tapping into ancillary revenue streams. For hotel operators seeking to boost profitability, ancillary revenue is a key focus in 2025. Here are four key ways you can generate more ancillary revenue in your hotel.
Include add-ons and upsells on your property’s website to increase revenue and allow guests to customize their stay with you. Research shows that chatbots can increase booking conversion rates for hotels by up to 30% and lead to a 55% increase in upselling opportunities for hotels. Watch the full session from Passport 2024.
The APAC Revenue Management Summit returned to Melbourne this week under the fitting theme: Simply the Best. Just like in retail, every interaction is a chance to upsell, cross-sell, and reinforce brand loyalty, Kalan said. The panel explored broader market trends, owner expectations, and revenue management best practices.
According to recent Accenture research, 84% of travel executives say AI is the key to achieving their growth targets demonstrating that AI-driven channel strategies are no longer optional; they’re absolutely mission-critical for driving hotel revenue.
Ancillary revenue to the rescue! For property management companies looking to expand profitability without adding inventory or dramatically increasing workload, alternative revenue streams can be a game-changer. This post will show you how to convert those opportunities into revenue. The good news?
While many hotels still rely on the traditional reservation playbook to handle a growing volume of inquiries, others are investing in automated customer service as a way to regain control, cut response times, and unlock new revenue streams. Upselling : Offer room upgrades, packages, or early check-in. Read the full case study here.
This collaboration enables hotels using Infor HMS to drive incremental revenue and elevate guest personalization by seamlessly integrating Plusgradeâs proven upsell technology into the core guest journey. âTogether, weâre bringing ancillary revenue into the digital core of hotel operations â where it belongs.
Upsell & Promo Tools : Drive more revenue per booking with add-ons, promo codes, and package deals. It’s not just a booking engine; it’s a direct revenue driver. Let’s make it happen…” c) Pre-arrival Upsells Offer room upgrades, add-ons like spa sessions, or late check-out to boost revenue and enhance the guest experience.
Hotels using Mews Kiosks report that 30% of guests choose the kiosk, reducing check-in time by a third and boosting upsell conversion by 25%. Guests using kiosks generate 70% more upsellrevenue per check-in than those checking in at the front desk. Upsell and loyalty are increasingly tied to digital touchpoints.
In the revamped version of the WPM — the June edition is more than a diagnosis — it’s a strategic tool for revenue and distribution teams to focus efforts on Disruptive players, where action is urgent. Controlling the payment process is key to detecting undercutting in real time and responding effectively.”
Today’s digital-first guests demand convenience, speed, and seamless experiences making a booking engine more than just a helpful tool, it’s a necessity Why Every Hotel Needs a Booking Engine System If your hotel isn’t offering direct bookings online, you’re missing out on revenue, on guest data, and on control.
In todays competitive hospitality landscape, driving revenue beyond the traditional room rate is no longer a luxuryits a necessity. With over two decades of experience, Pablos expertise is helping hotels unlock hidden revenue potential. With SiteMinder’s flexible platform, you can easily diversify your revenue streams.
Understanding guests’ communication preferences and engaging on their terms is the key to elevating your hotel’s upselling strategy. Engage Guests on Their Terms: The The post 5 Reasons Your Hotel Needs a Multi-Channel Communication Strategy appeared first on Revfine.com.
Revenue growth via post-booking upsells Post-reservation conversations are the perfect opportunity to offer: Room upgrades Add-on services as breakfast, transfer and experiences Promotional packages 5. Fewer cancellations due to delayed replies OTAs like Expedia value fast response times — and so do travelers.
Digitalizing the journey: Mobile keys, on-the-go check-in, and seamless check-out “ At Salto, we believe access to technology should be so convenient that guests actually enjoy using it,” said Nora Urquiza, Hospitality Solutions Business Lead at Salto Systems. “ Receive daily leadership insights and stay ahead of the competition.
Boosted revenues On top of the revenue boost that can be driven by an enhanced guest experience, a unified inbox can also drive direct revenue by allowing you to configure and send upsell offers through WhatsApp templates. You can also boost revenue by crafting compelling upsell messages to send out at key moments.
A hotel commercial strategy is a coordinated business approach that integrates sales, marketing, revenue management and distribution efforts to maximise total hotel revenue. It aims to drive profitability and improve competitiveness in the market for a hotel business.
In todays competitive hospitality landscape, driving revenue beyond the traditional room rate is no longer a luxuryits a necessity. With over two decades of experience, Pablos expertise is helping hotels unlock hidden revenue potential. With SiteMinder’s flexible platform, you can easily diversify your revenue streams.
Zucchetti North America launches Lybra Assistant in North America Zucchetti North America has introduced Lybra Assistant, its next-generation revenue management system (RMS), to the North American market. Plusgrade brings a new level of sophistication to upselling.
Gone are the days of dealing with multiple systems for reservations, revenue management, and guest engagement. Spreadsheets for revenue tracking. Identify upselling opportunities to boost revenue. Why Fragmented Systems Fall Short Managing operations with disconnected tools will just give hoteliers a huge workload.
The property management software's latest update integrates automated upsells, security deposit collection, ID verification, and customizable rental agreements into a single, brandable interface, aiming to give independent operators a more profession
Upsell with Mobile Solutions Leverage YCSs Mobile App for easy upselling and guest engagement. Embrace AI-Powered Revenue Management Tools like YCSs Revenue Management System (RMS) analyze booking trends, competitor rates, and market demand to optimize your pricing strategy during peak Songkran periods.
And for hotels, this centralised insight enables tailored offers, dynamic upselling and operational efficiency – all of which translate to greater guest loyalty and increased revenue. A well-structured PMS not only supports ancillary revenue, it also enables smarter staffing decisions and reduces operational redundancies.
App users are often ready to act, which makes personalization a powerful driver of both conversion and direct revenue. This enables hotels to trigger highly relevant, real-time campaigns, such as spa offers, late check-out promotions, restaurant upsells, or feedback requests, at exactly the right moment.
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 revenue management. This is a game-changer for efficient hotel revenue management. These savings strengthen your hotel revenue management strategy.
30% of guests check-in via the Kiosk, cutting check-in time by a third and freeing up staff to really welcome their guests and provide remarkable experiences throughout their stay, not to mention the fact that Kiosks drive 25% higher upsells in our hotels today. “Since bringing Mews Kiosks to hotels in the U.S., of total U.S.
EBITDAR formula explained One way to calculate EBITDAR is first to determine earnings by subtracting all expenses from revenue and then adding back five cost categories. EBITDAR is calculated using details from the income statement, which presents a company’s revenues and operating expenses over a specific period.
According to Google, businesses make an average of $2 in revenue for every $1 they spend on Google Ads. Upselling opportunities : Offer add-ons and packages during the booking process to increase revenue. It lets you show ads on Google Search, YouTube, and other websites. Why Use Google Ads for Your Hotel? .
The report highlights that hoteliers view increasing occupancy and improving operational efficiencies as key priorities, with 85% of hoteliers anticipating that personalization could help deliver over 5% in incremental revenue. rise in direct booking conversions over a six-month period, significantly boosting its overall revenue.
Smart upsells: Unlocking additional revenue Beyond the basics, some travelers are willing to pay more for added comfort or convenience – on average, 12% more than the Average Daily Rate (ADR) for specific amenities.
This collaboration enables hotels using Infor HMS to drive incremental revenue and elevate guest personalization by integrating Plusgrade’s upsell technology into the guest journey. NEW YORK, New York—Infor announced a preferred partnership between its Infor Hospitality Management Solution (HMS) and Plusgrade.
Flexible and scalable, our growing roster of mutual clients includes Mandarin Oriental and Four Seasons, with hotels typically experiencing a 20% to 40% boost in F&B revenue following deployment.â This partnership marks a significant advancement in the evolution of luxury hospitality across the globe.
Impulse Purchases : The presence of items can encourage spontaneous purchases, increasing hotel revenue. Cons: Missed Revenue Opportunities : An empty fridge may lead to lost sales that a stocked minibar could capture. Variety : A well-stocked minibar can offer a range of items, catering to different tastes and preferences.
A single missed or miscommunicated reservation can mean losing critical revenue, not to mention the brand damage that comes from frustrated guests who are caught up in an overbooking or a missed reservation. What to do next: Personalise messages and highlight relevant upsell offers. Body: Hi Alex, thanks for booking with us!
In STAAH, the Indian hospitality group found a sophisticated system to help manage room types and yield rules, and boost direct revenue by 30%. Daily deals, upselling, promos and a number of other in-built capabilities allow Chokhi Dhani revenue managers to drive demand based dynamic pricing decisions.
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