Inn Quest

OCTOBER 17, 2023

Overbooking is a common problem in the hospitality industry, causing major issues for both – hoteliers and guests. Striking the perfect balance between fully booked rooms and avoiding overbooking can be a challenging task. This is why our guide discusses how to avoid overbooking in hotels. Why Do Hotel Overbookings Happen?

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

STAAH

APRIL 16, 2024

In the ever-evolving hospitality industry, staying competitive demands more than just offering great accommodations and service. An RMS should provide detailed insights into key performance metrics such as Room Revenue Per Available Room (RevPAR), Average Daily Rate (ADR), occupancy rates, booking pace, and revenue forecasts.

Revenue Management 85

Revenue Management Revenue Management Forecasting 85

eZee Absolute

DECEMBER 7, 2023

This myth has gained momentum because RM services are being adopted majorly by high-end accommodation providers. Myth #5: Budgeting and demand forecasting aren’t important in revenue management When it comes to hotel revenue management, budgeting and demand forecasting play a crucial role. Again, this is not true.

Revenue Management 98

Revenue Management Revenue Management Overbooking 98

Inn Quest

SEPTEMBER 5, 2023

By implementing an inventory tracking system, hotels can minimize underbooking, reduce overbooking risks, set competitive prices and provide a seamless guest experience, ultimately leading to increased revenue and improved operational efficiency. This prevents overbooking and rate disparities, enhancing the guest experience.

Management 87

Management Overbooking Revenue Hotels 87

Inn Quest

AUGUST 8, 2023

By accurately forecasting demand patterns, hoteliers can allocate the right number of rooms to each price tier. During peak seasons, when rooms are in high demand, higher rates can help control the rate of bookings, preventing overbooking scenarios.

Hotels 88

Hotels Occupancy Overbooking Revenue 88

Xotels

APRIL 3, 2024

Following best practices and a well-thought-out strategy is the only way to unlock the full potential of revenue for your hotel , with benefits including: Claim your fair market share: with more hotels forecasted to open every year , gaining a fair market share will become more difficul t each year.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Catala Consulting

MAY 17, 2024

Revenue management is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. Reception staff must be trained to manage reservations dynamically, accommodating walk-ins and overbookings in a manner that optimizes room availability and revenue.

Revenue Management 52

Revenue Management Revenue Management Upsell 52