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7 Hotel Revenue Management Trends & Innovations of 2024

STAAH

Interactive dashboards and visual representations make it easier for revenue managers to make data-driven decisions, identifying revenue trends, tracking performance metrics, and accurately forecasting future demand.

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Survey Results: Revenue Management Trends & Predictions for 2024

Hotel Speak

The top six trends identified by our survey respondents are: Profitability Automation Integrated Systems TrevPAR Ancillary revenue Artificial intelligence Revenue Management More Important Than Ever The revenue management discipline in hotels continues to grow in importance, with respondents ranking it 4.8

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Report: Independent hotels see record-breaking occupancy

Hotel Business

The data covers key hotel performance indicators such as occupancy, RevPAR, booking lead time, length of stay, international and domestic travel, direct and OTA bookings, as well as upsell performance to forecast trends shaping the hotel industry in 2023. Memorable experiences outweigh rising inflation.

Occupancy 115
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Hotel Revenue Management Strategies

Xotels

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.

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How decision intelligence unlocks hotel data for better insights

Cloudbeds

Decision intelligence unifies the full range of pricing decision-making through both OTAs and direct bookings. During slower seasons, rather than applying heavy discounts, DI might show that bundling a slightly discounted room rate with a complimentary spa or dining voucher is more appealing and generates more revenue.

Upsell 99
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Mastering The Art of Resort Revenue Management

Catala Consulting

This approach implies higher rates during peak seasons and lower ones during off-peak periods, leading to an optimized revenue yield. Improved Forecasting: Resort revenue management allows establishments to make accurate demand predictions. Such services might include dining, spa services, on-site entertainment, or event fees.

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What is Hotel Revenue Management?

Xotels

What Does the Process of Revenue Management Look Like? Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? Revenue Management – What is the Difference? Why is Revenue Management Important to Hotels & Other Industries?