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Gain more control and business revenue than ever before Accelerate daily operations, increase efficiency, and boost revenue with SiteMinder's leading hotel platform. The restriction display screen shows us every date and every price with options to manage close-to-arrival, stop-sells, minimum length of stay and more.
What many lodging businesses overlook are the different ways direct bookings can be captured. A booking engine is a platform used by lodging businesses to capture direct bookings anywhere a guest might be online. What is a booking engine? Transparency. First impressions matter.
Yield management is a pricing and revenue management strategy that is used to maximise business performance. Table of contents History and development of yield management Yield management, which originated in the airline industry, marked a revolutionary shift in how businesses approached supply and demand. What is Yield Management?
Holiday periods are a busy time for everyone, and for a lot of people a mid-year break or festive period is the perfect opportunity to travel. This is exciting for your business because it presents an opportunity to push the limits of your occupancy and cash-in on increased revenue.
In short, revenue management is a disciplined approach that aims to increase the revenue success of your business. Without a solid revenue management strategy, a hotel will just get lost in the pile of other hotels – being unable to reach satisfactory visibility and level of business to remain open.
Internal factors such as expenses like taxes, wages, supplies, cleaning, and refurbishment mean there’ll be a minimum rate you have to set to break even on your business each month, quarter, or year. If it’s the height of your busy season and hotels locally are becoming booked up, you can afford to charge your guests more.
In short, revenue management is a disciplined approach that aims to increase the revenue success of your business. Without a solid revenue management strategy, a hotel will just get lost in the pile of other hotels being unable to reach satisfactory visibility and level of business to remain open.
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