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Why is Upselling in Hotels Important

Inn Quest

An effective strategy that can help is to upsell additional services or products relevant to customers. Therefore, upselling in hotels is not only influential but cost-efficient as well. What is Upselling? Upselling is a sales strategy that offers consumers additional services or add-ons to increase revenue.

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7 Hotel Revenue Management Trends & Innovations of 2024

STAAH

As technology continues to evolve, so do the strategies and innovations within revenue management. Let’s delve into some of the key trends shaping the future of revenue management in the hotel industry: 1.

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Ignorance means risks: What revenue management means for today’s hotels and the costs of neglecting it

SiteMinder

A quick search on the internet yields a wide range of definitions for ‘revenue management’. Some of these take a theoretical, almost academic approach and, in several instances, there are iterations of revenue management’s classic definition: ‘selling the right room, to the right guest, at the right time, for the right price’.

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7 tips to make your overbooking strategy a success in 2024

STAAH

The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. These are resolved by ensuring you have a high-performing, cloud-based channel manager that updates rates and inventory across multiple online channels in real-time via an API connection.

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Contactless guest experience: How integrated technology makes it possible

Cloudbeds

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.

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Hotel revenue management strategies and solutions

SiteMinder

What is hotel revenue management? Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. What is the primary purpose of revenue management? Why is revenue management important for the hotel industry?

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Hotels in Spain are facing the best summer on record: SiteMinder

SiteMinder

The growth in Spain’s hotel booking volumes has come in spite of rising accommodation prices in the country, which SiteMinder data shows have increased by an average of 12 percent over the past four years. British, French, German, Italian and Dutch travellers, in that order, are visiting Spain in the highest numbers.