Little Hotelier

MAY 31, 2023

What is the Booking.com cancellation policy? The Booking.com cancellation policy outlines the terms and conditions that apply when a guest cancels a reservation at your hotel. It includes specifics about refund procedures, penalties, and fees associated with cancellations. How do you deal with that as a host?

Cancellation 52

Cancellation Revenue OTA Business 52

SiteMinder

JULY 13, 2024

What is hotel revenue management? Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. What is the primary purpose of revenue management? What is the primary purpose of revenue management?

Revenue Management 98

Revenue Management Revenue Management OTA 98

Hotelogix

JUNE 28, 2024

The Hotel cancellation policy allows guests to cancel reservations up to a specified time before check-in. After this period is crossed, hotels may apply a cancellation fee, a percentage of the booking amount, or the entire booking cost.   Why Should Hotels Have Clear Cancellation Policies?  

Cancellation 52

Cancellation Revenue Hotels Accommodation 52

Hotel Speak

DECEMBER 11, 2023

Effectively plan and reach your business goals for 2024 with these smart revenue management and distribution tips. To cope with a highly dynamic market , improve efficiency and meet the evolving needs of guests, there have been some shifts in revenue management and distribution.

Revenue 78

Revenue Revenue Management Cancellation Hotels 78

Little Hotelier

JUNE 30, 2023

What is the Expedia cancellation policy? Expedia provides a cancellation policy that allows users to cancel or modify their reservations without any charges or penalties within the first 24 hours. Knowledge of Expedia’s refund policy is a crucial aspect of managing a small hotel business effectively.

Cancellation 52

Cancellation Revenue Revenue Management Management 52

STAAH

NOVEMBER 8, 2022

Like many other areas in travel and hospitality, revenue management has dramatically changed in the last two years. We spoke to leading revenue managers on what they think lies ahead. Revenue managers have had to up their ante on monitoring local trends and populace segments to get a better understanding of demand.

Revenue Management 98

Revenue Management Revenue Management Forecasting 98

Little Hotelier

APRIL 28, 2023

What is a hotel cancellation policy? Hotel cancellation policies offer hotel guests the opportunity to cancel their booking up until a certain amount of days before check-in. Once this date has passed, the hotel might charge the guest a set cancellation fee, a percentage of the booking, or the full amount.

Cancellation 52

Cancellation Hotels Events Revenue 52

A Sales Guy

AUGUST 23, 2013

Unfortunately, the client had to cancel after I booked my flight. I had no other business in San Francisco at the time, so I needed to cancel the flight. I’m planning a trip to Boston, so I decide to use my canceled ticket. I was scheduled to meet a client last week. S**t happens right? No big deal!

Cancellation 118

Cancellation Revenue Services Business 118

Xotels

APRIL 3, 2024

We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

STAAH

FEBRUARY 6, 2024

The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. By deploying this strategy a hotel is insuring itself against possible cancellations by having secured guests who can fill cancelled bookings. 2) Use multiple data sources. 2) Use multiple data sources.

Overbooking 104

Overbooking Cancellation Upsell Revenue 104

Inn Quest

MAY 11, 2023

However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world. The question is, how can hoteliers implement effective pricing strategies to boost their revenue and stay ahead of the competition?

Revenue 88

Revenue Occupancy Hotels Marketing 88

Amadeus Hospitality

MAY 25, 2023

Originally published in Hotel Online Before we dive in, be sure to visit our ultimate guide to grow events and group business for an all-encompassing rundown of events, sales and catering tips, data points and best practices. Many questions are on the minds of hospitality leaders as they strategize new, creative ways to generate revenue.

Sales 88

Sales Business Events Travel 88

Hotel Business

SEPTEMBER 3, 2024

It was also reported that Delta Airlines canceled more than 4,800 flights since the outage happened. This triggered a domino effect, impacting hotel bookings as stranded travelers frantically rebooked flights and adjusted itineraries, leading to a surge in last-minute cancellations and requests to modify their stay.

Cancellation 104

Cancellation Revenue Hotels Travel 104

Hotel Speak

OCTOBER 24, 2024

Cloudbeds Intelligence marks a breakthrough in eliminating the traditional silos of hotel management, empowering properties to take specific, data-backed actions across every function of their business – including revenue management, marketing, operations, and guest experience.

Upsell 105

Upsell Hospitality Cancellation Forecasting 105

Hotelogix

OCTOBER 13, 2023

Here are 5 ways to ensure lesser cancellations and no-shows: 1. Make sure you have a cancellation policy Include a cancellation policy in your hotel reservation system and make it visible to your guests. Include a deadline in your cancellation policy, before which your guests can cancel their bookings.

Cancellation 52

Cancellation Hotels Revenue Business 52

A Sales Guy

AUGUST 2, 2012

Their business is a SAaS business. One of their sales strategies is to reduce churn in order to increase net revenue — good strategy. I didn’t want to cancel it, BUT I also didn’t have the time to call and get it resolved. I wanted the service to work, not cancel it. They canceled my service.

Cancellation 111

Cancellation Services Revenue Sales 111

STAAH

MAY 24, 2023

3)Identifying traveller type: Market insights enable hoteliers/accommodation providers to categorize guests based on various criteria such as family travellers, international tourists, business travellers, etc. For example, if families are a significant segment , hotels can offer family-friendly amenities or packages to entice them.

Market 98

Market Marketing Cancellation Accommodation 98

SiteMinder

MAY 25, 2023

The bottom line is that hotels can lose millions of dollars in revenue due to abandonment, especially when you also consider that guests may book a room before delaying payment, and then cancelling altogether. Additional data shows that over 80% of travel bookings are abandoned, compared to the general average of around 70%.

Revenue 98

Revenue Cancellation Hotels Accommodation 98

Inn Quest

OCTOBER 17, 2023

They are a result of a delicate balance between maximizing revenue and providing guest satisfaction. While overbooking can lead to guest inconvenience and potential financial losses for the hotel, it is a revenue management strategy used to achieve high occupancy rates. Why Do Hotel Overbookings Happen?

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

Hotel Business

SEPTEMBER 15, 2023

Eister There are many myths about revenue management, but there are five we hear most often. Myth #1: Revenue management is only essential when business is booming. Revenue management is a fundamental part of business, especially in such a dynamic industry as hospitality.

Revenue Management 64

Revenue Management Revenue Management Forecasting 64

A Sales Guy

DECEMBER 13, 2012

I am seeing more and more business monthly recurring, SaaS business models. These businesses rely on being sticky and keeping their customers. If you have a recurring revenue base read it more than once and take ask yourself what is your churn strategy? There’s a lot of focus in the business world on making sales.

Sales 113

Sales Cancellation Management Business 113

Little Hotelier

NOVEMBER 6, 2023

What is hotel revenue optimisation? As a small, independent hotelier you may have heard the terms hotel revenue optimisation and hotel revenue management. They get to the heart of what a hotel business is, and are critical to understand if you are to succeed in a competitive market. So what is revenue optimisation?

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Hotel Business

FEBRUARY 22, 2023

SiteMinder’s new Hotel Booking Trends report, a hotel commerce data analysis of more than 36,000 hotels and 450+ connected booking integrations, has revealed travelers booked their trips on average eight days earlier, and canceled their bookings 17% less year-on-year in 2022, despite a 24% increase in the average daily hotel room rate.

Travel 102

Travel Average Length of Stay Average Daily Rate Cancellation 102

STAAH

AUGUST 11, 2024

Renowned for its exceptional service standards, Sayaji Group of Hotels is a sophisticated collection of 15 individually designed hotels catering to both leisure and business travellers with stylish guest rooms and versatile meeting facilities across 11 Indian cities. 30% increase in revenue. 40% – 60% increase in direct bookings.

Occupancy 109

Occupancy Revenue Cancellation Services 109

Cloudbeds

AUGUST 21, 2023

While for some hoteliers it’s best to avoid overbookings altogether, for others, a good strategy can increase revenue, improve the occupancy rate and mitigate losses. An overbooking strategy is when a property purposefully books its inventory beyond capacity in anticipation that a certain amount of guests will cancel or not show up.

Overbooking 98

Overbooking Cancellation Occupancy OTA 98

Hotel Speak

JUNE 4, 2024

Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. What drives more value to the business, ADR, average daily rate, or occupancy? I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. Which is it?

Revenue Management 61

Revenue Management Occupancy Revenue Average Daily Rate 61

Social Tables

JANUARY 27, 2021

Skip to content Menu Solutions Interactive Floor Plans Collaborative event sales software that increases qualified leads and drives direct revenue. Event Diagramming Collaborative event management software that saves time, boosts revenue and drives loyalty. Prefer to look back on what we learned in 2020?

Events 193

Events Sales Sales Enablement Business 193

eZee Absolute

SEPTEMBER 22, 2023

If you’re new to the hotel business or a seasoned pro, understanding these rate types can make a huge difference in your hotel’s financial performance. They usually come with flexible booking and cancellation policies, allowing guests to make changes or cancel reservations without incurring significant penalties.

Revenue 52

Revenue Management Occupancy Revenue Management 52

STAAH

JULY 12, 2023

On Expedia Group sites, your property will show ‘Free Cancellation’ in traveller search results. In a recent survey, travellers told us that the ability to cancel and get a full refund if their plans change is one of their top considerations when booking travel.* We recommend a 100% refund for cancellations within a short.

Cancellation 98

Cancellation General Manager Travel Marketing 98

Catala Consulting

JULY 30, 2023

In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Why is Revenue Management Imperative for Resorts?

Revenue Management 52

Revenue Management Revenue Resorts Management 52

SiteMinder

DECEMBER 1, 2024

In this guide we’ll reveal everything that hotel businesses need to know about invoices: why they’re important, how and when they’re created, and how a hotel can better manage them. It offers transparency to guests and shows that your business is trustworthy. Hotel invoices and hotel receipts are slightly different documents.

Hotels 52

Hotels Revenue Accommodation Management 52

Hotel Business

JULY 9, 2024

LG debuts AI-powered door-type service robot LG Business Solutions USA has introduced its next-generation CLOi ServeBot, an autonomous, door-type service robot designed to provide safe delivery services in hospitality and healthcare settings. Several tech companies introduced new products at HITEC 2024 in Charlotte.

Services 104

Services Hotels Revenue Business 104

SiteMinder

JUNE 11, 2024

We recently spoke to Alexandra Rolton , Strategic Sales & Key Account Manager , about the group’s operations and how it has been utilising SiteMinder’s platform to optimise operations and revenue strategies. “We We also maintain rate parity with our consortia preferred rates and offer a 24 hour cancellation policy.”

Global Distribution System 98

Global Distribution System Revenue Hotels Cancellation 98

SiteMinder

SEPTEMBER 7, 2023

They can also be strategic revenue boosters that can significantly elevate your hotel’s profitability. While hotel fees can be powerful secondary revenue generators or a useful tool to mitigate additional operational costs, there is an art to applying them effectively.

Revenue 105

Revenue Hotels Services Cancellation 105

SiteMinder

JUNE 12, 2024

Yield management is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. What is Yield Management? Think of it as the art behind the science of room supply and demand.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

Hotelogix

DECEMBER 25, 2023

Hotel PMS System, or hotel management software, is crucial for generating more revenue.   To increase hotel revenue, you must start with the right Hotel PMS System - a cloud one. It should be your very first step towards achieving your revenue goals. Ultimately, all these result in more sales and revenue. 

Revenue 59

Revenue Sales Shopping Hotels 59

Inn Quest

APRIL 3, 2023

As the hospitality industry evolves after the pandemic, it’s more important than ever for hotels to streamline their day-to-day operations to improve efficiency, enhance the guest experience, and increase revenue. Here are some ways to streamline operational tasks for your hotel.

Operations 88

Operations Revenue Management Revenue Forecasting 88