STAAH

JANUARY 16, 2024

There is no set formula to increase a hotel’s revenue, it can be achieved by creating a good promotion plan, tapping into sources of ancillary revenue , upselling and other marketing strategies. Optimise ancillary revenue. Here are 10 strategies: 1. It is great to be fully booked.

Revenue 85

Revenue Ancillary Revenue Revenue Management Hotels 85

Hotelogix

AUGUST 6, 2024

Optimizing ancillary revenue streams: To diversify your revenue sources, consider enhancing offerings in food and beverage, spa services, and event hosting. Targeted marketing campaigns: Run campaigns during off-peak periods to boost occupancy. Use segmentation to target different guest demographics with tailored offers.

Revenue 52

Revenue Management Upsell Target Marketing 52

SiteMinder

JUNE 26, 2024

While revenue management is more focused on a hotel’s pricing and availability to maximize revenue, revenue optimization takes a broader approach to include a full range of revenue sources that includes food and beverage, spa services, events, classes, and other ancillary revenues.

Revenue 72

Revenue Revenue Management Upsell Global Distribution System 72

Hotel Speak

JULY 19, 2024

Imagine, you’re the revenue manager of a 300-room property, and one week out from the arrival date you have only 30% on the books. especially if your comp set is trending ahead on occupancy on the books. All your competitors are now doing 95% occupancy with a good balance of transient and group. Sounds good, right?

Revenue 63

Revenue Management Revenue Management Average Daily Rate 63

Travelboom Marketing

SEPTEMBER 1, 2023

Increase RevPAR & Occupancy with a Hotel Loyalty Program With a goal of maximizing both occupancy AND RevPar, driving direct bookings with the help of a hotel loyalty program is a must. Higher rates can mean more on-site rewards for guests. Alternatively, less expensive room rates can be redeemed through more aggressive upselling.

Hotels 52

Hotels Upsell Ancillary Revenue Travel 52

Little Hotelier

OCTOBER 17, 2023

Connect additional channels If you find on some days or weeks your occupancy is lower than you’d like, and not enough revenue is coming in as a result, you may not be reaching a big enough audience. You can use a tactic known as the Billboard Effect to link your website to your OTA profiles, convincing guests to check you out.

Revenue 100

Revenue Hotels OTA Ancillary Revenue 100

Xotels

APRIL 3, 2024

Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? This dynamic demand necessitates adaptive revenue management practices. Learn more about how to generate ancillary revenue in your hotel or resort. Protect YOUR Brand!

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Xotels

APRIL 3, 2024

Collaboration with other departments The Future: Total Revenue Management What is Revenue Management? For example, highlight amenities (bar, restaurant, spa, pool), and leverage packages (romantic, weekend, spa offer), to both expose why bookers should stay at your hotel, and generate ancillary revenue by promoting those offerings.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Travelboom Marketing

NOVEMBER 7, 2023

Local DMO Participation One of the best ways to drive occupancy from visitors already interested in your destination is through your local DMO and/or Chamber of Commerce. Other tools such as push messaging and food and beverage integration give properties the power to significantly increase their ancillary revenue.

Hotel Marketing 96

Hotel Marketing Market Marketing OTA 96

Xotels

JULY 26, 2024

LEARN MORE CONTACT US LEARN MORE CONTACT US Real-World Example A hotel in a popular tourist destination noticed that their occupancy dropped significantly during the shoulder season. As a result, their occupancy increased by 20% during the shoulder season, and their overall revenue grew by 15%. It’s a win-win!

Yield Management 59

Yield Management Upsell Hotels Ancillary Revenue 59

Xotels

JULY 26, 2024

LEARN MORE CONTACT US LEARN MORE CONTACT US Real-World Example A hotel in a popular tourist destination noticed that their occupancy dropped significantly during the shoulder season. As a result, their occupancy increased by 20% during the shoulder season, and their overall revenue grew by 15%. It’s a win-win!

Yield Management 52

Yield Management Upsell Revenue Hotels 52

SiteMinder

AUGUST 1, 2024

Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain. Pricing strategy: How you will set competitive room rates and consider implementing revenue management strategies to maximise occupancy and revenue.

Business 52

Business Revenue Occupancy Hotels 52

Hotel Business

JULY 18, 2024

increase in occupancy. ” As for the remainder of the year, Bojanowski is seeing a slowing of year-over-year growth in occupancy, primarily driven by a flattening of leisure transient demand and continued slow growth in business transient demand. ” Meliker expects RevPAR growth to end the year up 1.8%, driven by a 2.6%

Occupancy 52

Occupancy Revenue Travel Operations 52

Boutique Hotel News

DECEMBER 20, 2022

A recent Knight Frank report supports this idea, revealing that ancillary revenues have increased in 2022 with the contribution to total revenue rising by 1.5 As a result, hotels will maximise partnerships with retailers and become more multifaceted in their approach,” he says. percentage points.

Travel 124

Travel Hotels Branding Real Estate 124

SiteMinder

SEPTEMBER 6, 2023

Stable occupancy rate Extended stays help maintain a stable occupancy rate, particularly during the middle of the week and slow seasons, making resource planning easier. Ancillary revenue from facilities Long-term guests are more likely to use additional facilities, adding another revenue stream.

Motels 52

Motels Ancillary Revenue Revenue Hotels 52

Hotel Speak

MAY 9, 2023

In addition, examining income streams is a great way to assist hoteliers in identifying opportunities to generate more revenue, such as where and when to implement strategies to drive ancillary revenue. This can lead to the following benefits: Reduced marketing costs (more reliance on organic referrals vs. paid advertising).

Upsell 59

Upsell Hotels Revenue Market 59

StayNTouch

NOVEMBER 16, 2022

Although hotels can 一 and should 一 diversify their income streams and realize the potential of ancillary revenue, distribution remains the cornerstone of hotel profitability and success. This can include a hotel’s website, its social media platforms, phone or email reservations, metasearch engines, or OTAs.

OTA 52

OTA Hotels Revenue Overbooking 52

Hotel Operations

MARCH 15, 2023

We’re not just looking at past occupancy rates, but can bring in customer segments and property types and weather and plane schedules – a wide range of external or causal factors. Rothaus sees two primary applications: Automating things, like quickly recognizing a face or a word. Forecasting demand is an example. “We’re

Hospitality 59

Hospitality Hotels Operations Revenue 59