SiteMinder

JULY 29, 2024

Hotel profit margins are calculated by determining the percentage of a hotel’s revenue that remains after taking away all the costs associated with running the business, including staffing, marketing, maintenance, utilities, catering, waste, and more. Net Profit Margin equals (Net Profit / Total Revenue) * 100 = 54% Are hotels profitable?

Ancillary Revenue 52

Ancillary Revenue Revenue Revenue Management Hotels 52

Xotels

JULY 26, 2024

This can entice guests to book at a higher rate while also increasing your overall revenue. Don’t Forget About Upselling: Train your staff to upsell guests to higher room categories or add-on services. These are the techniques that can significantly boost your hotel’s revenue without a ton of extra effort.

Yield Management 59

Yield Management Upsell Hotels Ancillary Revenue 59

Xotels

JULY 26, 2024

This can entice guests to book at a higher rate while also increasing your overall revenue. Don’t Forget About Upselling: Train your staff to upsell guests to higher room categories or add-on services. These are the techniques that can significantly boost your hotel’s revenue without a ton of extra effort.

Yield Management 52

Yield Management Upsell Revenue Hotels 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 Business

JANUARY 31, 2023

The report recaps the events that made 2022 a standout year for the hospitality management company: The full conversion to six vertical and geographically focused operating divisions, intended to refocus deep industry expertise and deploy dedicated resources to better serve owners.

Ancillary Revenue 52

Ancillary Revenue Services Upsell Operations 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

SiteMinder

SEPTEMBER 10, 2024

CPOR is a crucial metric in the hotel industry that helps measure the efficiency and profitability of a hotel’s operations. CPOR can be influenced by a number of factors and can often be a representation of how effective your revenue management and marketing strategies are. What is CPOR? Business mix: The type of guests (e.g.,

Revenue 52

Revenue Revenue Management Occupancy Hotels 52

Hotel Business

JULY 11, 2023

VenueLytics’ solutions help marketing, operations and front-desk teams better serve their guests with less resources required, drive incremental revenue and maximize profit, the company reports. “We are dedicated to providing the travel industry with innovative solutions that leverage data, AI and technology to drive results.

Ancillary Revenue 40

Ancillary Revenue Casinos Upsell Market 40

Catala Consulting

JULY 30, 2023

By using outsourced revenue management, resorts can focus more on their core operations while still enjoying the benefits of sophisticated revenue management strategies. Recognizing and promoting these revenue streams is an integral aspect of advanced resort revenue management.

Revenue Management 52

Revenue Management Revenue Resorts Management 52

Xotels

APRIL 3, 2024

Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? As time progressed, numerous other industries embraced the revenue management approach, integrating it as a foundational strategy for their business operations. Protect YOUR Brand!

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Hotel Speak

MAY 9, 2023

Cost can always be reduced, but how does it impact your day-to-day operations, and how does this reflect on your guest experience? Sustainability: When mitigating waste and conserving resources, hotels can reduce their environmental impact and operate in a more sustainable manner. 10 Strategies with Examples to Control Cost: 1.

Hotels 59

Hotels Upsell Revenue Market 59

Hotel Business

JULY 13, 2023

Especially for remote teams and/or organizations who are managing multiple properties, consistent access to accurate, high-quality property data (both by hotel and organization-wide) is an operational imperative for effective, data-based decision-making and to maximize overall profitability.”

Revenue 52

Revenue Ancillary Revenue Management OTA 52

SiteMinder

AUGUST 18, 2022

You can then try to generate extra revenue from upsells, extras, and other ancillary revenue. Ultimately the goal of analysing your hotel alongside competitors is to allow your property to operate in its own perfect niche. Tips on creating the perfect hotel competition report.

Hotels 52

Hotels Revenue Ancillary Revenue OTA 52

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

Xotels

SEPTEMBER 22, 2022

Telephone and face-to-face are critical channels for hotels, even though, especially after the rise of online bookings, some hoteliers started considering them just operational services rather than commercial ones. Sure, you can implement that new automatic up/cross-selling tool. Continuous training is, therefore, crucial. Conclusion.

Hotel Marketing 40

Hotel Marketing Marketing Market OTA 40