Cloudbeds

OCTOBER 9, 2024

Hotel forecasting is a critical component of successful hotel management, serving as the foundation for strategic decision-making and operational efficiency. As we look at the importance of forecasting for the hospitality industry, it’s interesting to note that it is also a major part of the science of hotel revenue management.

Forecasting 59

Forecasting Hospitality Occupancy Revenue Management 59

Xotels

APRIL 3, 2024

XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Demand Calendar

JUNE 28, 2023

Hotel revenue managers talk about "need periods, " meaning the hotel needs to fill the hotel with more guests. The worst part is if hotels at the destination start a price war to attract more guests, the results will be lower revenue for all, and no additional guests will travel to the destination because the hotel rooms are cheap.

KPI 98

KPI Forecasting Revenue Revenue Management 98

SiteMinder

OCTOBER 9, 2022

Few roles in the hotel industry have evolved as quickly as the revenue manager.Powered by technological advances, the rapid sharing of knowledge and online training, the discipline is synonymous with smart pricing decisions and expectations are always high in the highly competitive accommodation market. What is a revenue manager?

Revenue Management 59

Revenue Management Revenue Management Occupancy 59

SiteMinder

MARCH 4, 2024

Berlin, Germany – SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, has today released its industry-leading platform on mobile, to give accommodation providers the power to execute their property’s revenue management strategy and mitigate real-time risks, free from their desk.

Revenue Management 59

Revenue Management Revenue Management Accommodation 59

Little Hotelier

MARCH 25, 2024

What is hotel forecasting? Hotel forecasting, also known as hotel demand forecasting, is a strategy that sees a hotel analyse historical data and trends to make predictions about future demand. Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

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. These frontline employees are instrumental in shaping the guest experience, impacting occupancy rates, and ultimately driving revenue.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

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 40

Revenue Management Revenue Management Ancillary Revenue 40

Little Hotelier

JANUARY 19, 2025

Think of it as the “sticker price” for your accommodation, typically displayed on your website or communicated to guests who book directly. They simplify the often complex world of revenue management , giving you a reliable foundation to build upon as you grow your confidence in managing rates.

Rack Rate 52

Rack Rate OTA Revenue Hotels 52

Catala Consulting

NOVEMBER 18, 2023

The Evolution of Hotel Revenue Management In its early stages, hotel revenue management was a game of numbers – it was all about filling rooms and adjusting prices based on demand. Hotels used historical data and simple forecasting methods to set room rates, often focusing on short-term gains.

Revenue Management 52

Revenue Management Revenue Management Hotels 52

SiteMinder

JULY 11, 2024

“Partnering with SiteMinder marks a significant milestone for Globales, especially as we prepare for what our forecasts indicate will be a strong period of travel,” says Federico Crudo, Director of Commercial and Marketing at Globales. “We

Revenue 105

Revenue Branding Forecasting Revenue Management 105

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 strategy not only secures bookings but also helps in revenue forecasting and inventory management.

Target Marketing 104

Target Marketing Cancellation Revenue Forecasting 104

Hotel Business

NOVEMBER 15, 2023

IDeaS , a SAS company, has released Future Forecast: Six Hotel Technology Predictions for 2024. Revenue management will leave the confines of hotel walls: The discipline of revenue management is poised to expand beyond its traditional home within hotels.

Revenue Management 64

Revenue Management Forecasting Revenue Hotels 64

Little Hotelier

JULY 11, 2023

Whether you’re a little hotelier, a host or accommodation provider, our FREE Money Matters Guide with expert tips and advice will help you get a better understanding of revenue management and why it plays such a pivotal role in the success of your small property.

Revenue 52

Revenue Forecasting Revenue Management Accommodation 52

STAAH

SEPTEMBER 1, 2022

Clearly, as emerging trends and as technology has been widely used by accommodation providers, we all need to walk together, upgrade ourselves and get more tech-savvy. It’s a data-driven approach for pricing strategies, forecasting the demand and improvising your business performance.

Business 98

Business Management Accommodation Forecasting 98

SiteMinder

DECEMBER 17, 2024

High-value guests and corporations will engage companies connected to the GDS to book not only accommodation but sometimes entire travel packages. The GDS is particularly useful for connecting with corporate travel programs and winning business transient bookings.

Global Distribution System 52

Global Distribution System Average Daily Rate Revenue Travel 52

SiteMinder

DECEMBER 1, 2024

The following generic accommodation invoice template could be used by any type of accommodation business. The resulting insights can help you to track your occupancy, refine your pricing strategies, forecast revenue and identify service gaps and opportunities. Here are the fundamentals.

Hotels 52

Hotels Revenue Accommodation Management 52

SiteMinder

NOVEMBER 18, 2024

However, one of the most efficient ways to do it is by using technology to support the operations and revenue management of your hotel. For example, a hotel platform like SiteMinder will help you find more guests, boost revenue, optimise pricing, enhance the guest experience, improve cash flow, analyse performance, and more.

ROI 96

ROI Revenue Management Revenue Hotels 96

Hotel Business

MARCH 6, 2024

It allows accommodation providers to forecast revenue performance and take targeted action whenever needed, using their personalized 14-day overview of rooms sold, revenue earned and best-performing distribution channels. But this is the new era of dynamic revenue management, and mobility is at the heart of it.”

Revenue Management 64

Revenue Management Revenue Forecasting Marketing Strategy 64

STAAH

JUNE 4, 2024

It serves as a virtual storefront, enabling visitors to browse available accommodations, check prices, and complete bookings without third-party involvement. 4) Data Analytics for Insights: Leveraging analytics tools integrated with booking engine provides valuable insights into guest preferences, booking patterns, and revenue performance.

Revenue 109

Revenue Hotels Occupancy Management 109

SiteMinder

APRIL 18, 2024

London, UK : The average lead time for accommodation bookings has increased 13% year-on-year to 83 days for the coming London Marathon weekend, shows data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels. year-on-year.

Average Daily Rate 59

Average Daily Rate Revenue Management Accommodation Revenue 59

Hotel Speak

SEPTEMBER 26, 2024

Although global hotel revenue per available room (RevPAR) stayed high during the first half of 2024 – 13.2% Certainly rates and occupancy grew very nicely in 2023, but we reached a plateau where we couldn’t really push rates any further,” Jon Siberry, Group Revenue Manager of Sarova Hotels explained.

Market 104

Market Marketing Hotels Forecasting 104

Inn Quest

AUGUST 8, 2023

Improved Inventory Management: Implementing seasonal pricing allows hotels to manage their inventory more efficiently. By accurately forecasting demand patterns, hoteliers can allocate the right number of rooms to each price tier. To learn about the power of online reviews for hotels, read this.

Hotels 88

Hotels Occupancy Overbooking Revenue 88

SiteMinder

OCTOBER 16, 2023

It’s an essential part of a successful revenue management strategy and is implemented via the use of data and pricing intelligence tools. This means your tool is going to work to the advantage of your specific property, allowing you to accommodate local demand and competition within your specific market.

Forecasting 59

Forecasting Revenue Management Revenue Hotels 59

SiteMinder

MAY 6, 2024

Pop star Madonna’s five sold-out Mexico City shows in April have given a significant boost to the capital’s accommodation industry. This is according to new data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels.

Revenue 59

Revenue Accommodation Hotels Forecasting 59

Inn Quest

OCTOBER 17, 2023

They are a result of a delicate balance between maximizing revenue and providing guest satisfaction. While overbooking can lead to guest inconvenience and potential financial losses for the hotel, it is a revenue management strategy used to achieve high occupancy rates.

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

SiteMinder

JUNE 2, 2024

“Despite the rise in costs, the eagerness of travellers to plan their trips highlights a critical revenue opportunity for hotels. Local properties are now better positioned to forecast occupancy and dynamically optimise their revenue management strategies as more travellers plan their stays around UEFA Euro 2024 and other major events.”

Average Daily Rate 59

Average Daily Rate Revenue Forecasting Hotels 59

Hotel Business

JULY 11, 2024

Whether hotel revenue managers are looking for information on their ADR, room nights or revenue pipeline, the entire process is streamlined for them and removes the need for manual searches. “At G3 RMS provides DerbySoft with scientific pricing, forecasting and rate availability decisions at the room type and rate code level.

Revenue 104

Revenue Revenue Management Management Hospitality 104

Inn Quest

SEPTEMBER 5, 2023

Effective hotel inventory management relies on technology solutions like Property Management System s (PMS), Channel Managers, and Revenue Management Systems (RMS) to automate tasks, analyze data and make informed decisions. Implementing an RMS helps maximize revenue by adjusting rates dynamically.

Management 87

Management Overbooking Revenue Hotels 87

Hotelogix

NOVEMBER 19, 2023

You can increase your rate and occupancy as many people will be looking to book their accommodations. Data analytics and forecasting tools like revenue management systems can help with this. If the event is popular and attracts many people from out of town, you will experience increased demand.

Occupancy 59

Occupancy Maximum Length of Stay Minimum Length of Stay Revenue Management 59

Hotelogix

JUNE 10, 2024

We have witnessed firsthand the evolving landscape of hotel revenue management. Dynamic pricing strategy in hotels allows hoteliers to optimize revenue by ensuring room rates accurately reflect market conditions and consumer behavior. Revenue Goals : Determine what you aim to achieve with dynamic pricing (e.g.,

Revenue 52

Revenue Occupancy ROI Revenue Management 52

Cloudbeds

APRIL 1, 2025

If a group cancellation suddenly opens multiple rooms, PMax immediately shifts budget allocation to target last-minute planners searching for accommodations. Aligns revenue and marketing Powered by AI, Performance Max creates a dynamic connection between pricing, inventory, and marketing tactics.

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Hotelogix

SEPTEMBER 12, 2024

A Hotel PMS provides several operational reports, including a history and forecast report, revenue report, reservation report, housekeeping report, night audit report, financial report, guest history report, occupancy reports, etc., Scalability : The PMS should grow with your business and accommodate future needs.

Management 52

Management Revenue Management Hotels Operations 52

SiteMinder

OCTOBER 15, 2023

Improve forecasting – Compare historical data with current market conditions to get an idea of what you can set your rates at in the future. The hotel revenue manager will track what’s happening in the market throughout the day and week to pick up on any noticeable changes.

Occupancy 59

Occupancy Revenue Hotels Revenue Management 59

Little Hotelier

MARCH 10, 2024

It centralises information on bookings, customer interactions, and revenue streams, allowing hoteliers to efficiently track performance and make informed decisions. Manage your hotel sales with the best software in the market Use Little Hotelier’s revenue management features to manage your hotel sales and boost hotel bookings.

Hotel Sales 52

Hotel Sales Sales Revenue Management Revenue 52

Cloudbeds

MARCH 23, 2023

In the hotel industry, eCommerce refers to the buying and selling of accommodation and related services over the internet. Channel management software to automate distribution of room inventory and pricing on multiple booking channels and maximize your reach. What is hotel eCommerce?

OTA 98

OTA Digital Marketing Marketing Market 98

eZee Absolute

NOVEMBER 1, 2022

Statista ) In 2022, the global hotel and resort industry market was forecast to reach $1.06 Statista ) Hotel room nights demand and room revenues in 2022 are expected to nearly return to 2019 levels. Room revenue is expected to reach $168 billion and occupancy is projected to be 63.4%. Revenue Management.

Hospitality 52

Hospitality Revenue Management Revenue Travel 52