STAAH

MAY 28, 2024

With market dynamics constantly evolving, hotels must explore and innovate beyond traditional revenue streams. One highly effective strategy is to look beyond rooms to drive ancillary revenue. Diversify Revenue Streams: Relying solely on room revenue can be risky.

Ancillary Revenue 113

Ancillary Revenue Revenue Services Events 113

Lure Agency

MARCH 24, 2023

Daniel says, “You have some nice ancillary revenue opportunities, especially if you’re a property with a lot of programming. Additionally, they should get to know their target market and create packages that appeal to them. That way, you’ll know how to tailor the space to best fit their needs.

Hiring 116

Hiring Ancillary Revenue Hotels Business 116

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

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. Strategic marketing and distribution: Optimize your presence across all distribution/sales channels. Run targeted marketing campaigns to attract high-value guests.

Revenue 52

Revenue Management Upsell Target Marketing 52

Hotel Speak

JULY 19, 2024

It’s not just about rooms There are also ancillary revenue components for you to consider. A very large group may come with meeting space rental revenue, which is 100% pure profit. Balancing group and transient requires confident revenue management, targeted marketing, and managing risk.

Revenue 85

Revenue Management Revenue Management Average Daily Rate 85

SiteMinder

AUGUST 1, 2024

Here’s what to include in your executive summary: Hotel concept: Briefly describe your hotel’s unique features, target market, and overall vision. Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain.

Business 95

Business Revenue Hotels Occupancy 95

Boutique Hotel News

NOVEMBER 15, 2022

How have you adapted your sales and marketing strategy to attract these new segments? . Where are your target markets researching and booking their travel? Day-use services and memberships provide additional ancillary revenue streams especially important given the decline in business travel.

Market Share 52

Market Share Market Marketing Consumer 52