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The data generated by modern hotel operations – from booking patterns and guest preferences to room occupancy rates and ancillaryrevenue streams – is often scattered across various siloed systems. Transitioning from intuition to data isn't always easy, but it's becoming increasingly essential.
Whether you accept transient or group business to your hotel is more than just a revenuemanagement question. It’s also a risk management question. And what is the philosophy of the hotel, the ownership, the generalmanager, and other stakeholders? They don’t pull folio data into their revenue calculations.
SiteMinder’s platform empowers you to execute your hotel business plan seamlessly and drive revenue growth. Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain. Revenue and pricing Now we’re onto the good bit!
Marc Saunders, director of marketing at Splendid Hospitality, also believes there is opportunity to drive revenue by activating hotel spaces with retail partnerships. A recent Knight Frank report supports this idea, revealing that ancillaryrevenues have increased in 2022 with the contribution to total revenue rising by 1.5
A need to drive revenue The ongoing pandemic recovery and global macroeconomic uncertainty this year (2023) have put an increased focus on driving revenue growth. But as revenuemanagement technology and other pieces of a hotel’s commercial stack have become more effective, owners have increasingly turned to it for driving results.
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