SiteMinder

AUGUST 1, 2024

With this knowledge you can identify strengths and weaknesses, set goals, and ultimately optimise operations. Pricing strategy optimisation Based on competitor rates and market demand, you can adjust your pricing strategy to optimise revenue. Consider using criteria such as location, star rating, amenities, and target market.

Shopping 78

Shopping Revenue Average Daily Rate Revenue Management 78

Cloudbeds

MARCH 20, 2023

When done effectively, personalization can help hotels earn more bookings, higher average daily rates (ADR) , and better online reviews. Hotel market segmentation is the process of grouping hotel guests into categories based on shared behavior and characteristics. Save operational costs. Save operational costs.

Hotel Marketing 52

Hotel Marketing Marketing Market Average Daily Rate 52

SiteMinder

JULY 13, 2024

The most successful hoteliers are savvy operators who continually look for ways to learn and improve the way they do things, gaining an edge over the competition. Take advantage of the shifting market and raise your rates compared to keeping them static in order to earn more revenue.

Revenue Management 98

Revenue Management Revenue Management OTA 98

SiteMinder

OCTOBER 10, 2022

As a hotel operator, you might have come across STR reports at one point or another. Falling short of your competitors when it comes to guest experience, accommodation standards or your marketing and advertising strategy can quickly lead to lost revenue. Average daily rate (ADR). But what are they all about?

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

Little Hotelier

FEBRUARY 25, 2024

In terms of hotel revenue management consulting, this guidance usually takes the form of more effective pricing – identifying and setting room rates that are alluring to your target market and result in more bookings, while maximising the amount you earn from each booking. Here is a quick rundown of five that we recommend.

Revenue Management 52

Revenue Management Revenue Services Management 52

eZee Absolute

MAY 13, 2024

An RMS is a comprehensive software solution designed to analyze various data points, including historical booking patterns, market demand, competitor pricing, and other factors that influence revenue generation for your hotel. For example: A hotel’s booking pace report for the upcoming month falls short of the occupancy target.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

SiteMinder

JUNE 12, 2024

Instead, they’re exploring sophisticated indicators like GOPPAR to gain a holistic view of their operations. This involves tracking key performance indicators (KPIs) like Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Gross Operating Profit Per Available Room (GOPPAR).

Yield Management 98

Yield Management Management Revenue Management Revenue 98

MediaBoom

AUGUST 6, 2024

By developing detailed guest personas, you can better understand your target market and make informed decisions about your hotel’s branding and marketing strategies. It also covers your music, accent and attitude, promotional campaign, and any social media or marketing emails to gain loyal customers. Think about it!

Branding 92

Branding Hotels Services Marketing 92

Cloudbeds

AUGUST 8, 2024

With business intelligence, you have the knowledge to drive hotel operations, increase your revenue, and enhance your guest experience. We’ll cover several different types of hotel performance data, including reservation behavior, revenue management , finance and accounting, operational, and marketing data.

Business 40

Business Revenue Management Forecasting Revenue 40

Cloudbeds

MAY 8, 2024

Occupancy rate indicates the percentage of utilization of hotel rooms. ADR (Average daily rate) is the calculation of the average price or rate of a hotel room charged for a given period. If lots of rooms are getting booked quickly, that’s a good sign.

Cancellation 52

Cancellation Revenue Revenue Management Occupancy 52

SiteMinder

DECEMBER 20, 2023

Simply multiply your predicted average daily rate (ADR) by your occupancy rate. To ensure you’re operating at a profit, you’ll need to understand pricing at your hotel and optimise your pricing strategy so that you maximise the revenue that you generate per room and per guest.

Business 59

Business Hotels Management Revenue 59

eZee Absolute

JANUARY 9, 2023

Have a higher average daily rate. By creating engaging content and using targeted marketing strategies, accommodation providers can reach and attract the digital nomads markets who are looking for a place to stay and work remotely.

OTA 52

OTA Hotels Accommodation Travel 52