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

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

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

Xotels

MAY 30, 2024

Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. As they both contribute to the total equation of revenue being generated in the hotel.

Revenue Management 49

Revenue Management Occupancy Revenue Average Daily Rate 49

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. Over time, these roles matured and transformed, giving birth to the modern-day revenue or reservations managers.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

STAAH

NOVEMBER 15, 2022

Rapidly changing consumer mindset has forced hoteliers to adopt technology that makes the guest experience seamless and convenient. In related trends, booking windows are much shorter and cancellation policies continue to be very flexible across the industry. Adopting technology. Off-season travel. Insights are critical.

Hospitality 98

Hospitality OTA Travel Cancellation 98

Hotel Speak

SEPTEMBER 26, 2024

In September 2024, I gathered over 20 hoteliers and inudstry experts to explore five pertinent issues 1) 2024 Performance, 2) Revenue Generation, 3) Staffing and Leadership, 4) Marketing and Demand and 5) Technology and Vendors. Although global hotel revenue per available room (RevPAR) stayed high during the first half of 2024 – 13.2%

Market 104

Market Marketing Hotels Forecasting 104

Cloudbeds

APRIL 24, 2023

The world is going digital, making it easier for consumers to book travel and make payments. For owners and operators of independent lodging businesses, credit card fraud is not only time-consuming and costly, but it can also damage traveler trust, guest loyalty , and online reputation.

Hotels 98

Hotels Cancellation Operations Consumer 98

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 40

Revenue Management Revenue Management Ancillary Revenue 40

Fuel Travel

JULY 24, 2023

Thank the consumer for subscribing and provide a clear path to navigate different areas of your website they may want to browse. You could build incremental revenue by featuring deals at your on-site restaurant or cafe, or any other revenue-producing services. Hotel emails examples and strategies of triggered emails include: 1.

Email Marketing 76

Email Marketing Market Marketing Consumer 76

Cloudbeds

FEBRUARY 28, 2024

The reservation system acts as the central hub of the reservation ecosystem, which may also include a website booking engine, channel manager, and revenue management system. When integrated, these modules work together to help hotels manage room availability, distribution, reservations, and revenue. Generate more revenue.

Revenue Management 98

Revenue Management Hotels Revenue Operations 98

Hotel Speak

JANUARY 25, 2024

In the travel arena, a metasearch engine pulls in data from lots of other websites to produce its own results for consumer queries. A knock-on effect of this is that the revenues associated with organic search have fallen 15.3% Kayak and Trivago are both examples of metasearch engines.

OTA 110

OTA Cost Per Click Hotels Cancellation 110

Hotel Management

MAY 22, 2024

So, when you combine these two things, hotels are thinking, ‘How do I optimise revenues? They want the quick getaways or staycations – and Wotif is able to do that – but at the same time, they want that long-haul customer who is going to travel long, spend more, stay longer, fewer cancellation rates, and so on and so forth.

Travel 130

Travel OTA Marketing Market 130

Cloudbeds

APRIL 24, 2023

The world is going digital, making it easier for consumers to book travel and make payments. For owners and operators of independent lodging businesses, credit card fraud is not only time-consuming and costly, but it can also damage traveler trust, guest loyalty , and online reputation.

Hotels 92

Hotels Cancellation Operations Consumer 92

Hotel Business

SEPTEMBER 9, 2024

For example, when a major airline experiences a system issue that results in widespread flight cancellations, hotels must quickly adapt to a flood of changed arrival times, extended stays, activity itinerary adjustments and even surges in new booking requests from stranded travelers.

Travel 52

Travel Cancellation Scale Accommodation 52

SiteMinder

SEPTEMBER 10, 2023

In this blog, we’ll delve into how you can leverage this seismic shift in consumer behaviour to your advantage, ensuring that your hotel doesn’t just stay in the game but sets the rules. Research by Hotel Benchmark has found that booking revenue from mobile devices is almost 35%. Here’s how to make it happen: 1.

Hotels 105

Hotels Travel Revenue Consumer 105

Inn Quest

JUNE 6, 2023

As travel restrictions and lockdowns have forced many travellers to cancel or postpone their plans, OTAs have had to adjust their strategies and offerings to remain relevant. To learn about hotel pricing strategies to boost revenue in 2023, read this. To learn about hotel pricing strategies to boost revenue in 2023, read this.

OTA 52

OTA Hospitality Cancellation Consumer 52

SiteMinder

SEPTEMBER 26, 2022

The Digital Influence Trend: Right now, travellers are the most winnable consumers on earth. In the ‘new normal’ of travel, 80% of travellers say it is important to have the flexibility to easily modify or freely cancel their reservation. The Bleisure Trend: Working travellers want the hotel of the future, today.

Accommodation 98

Accommodation Travel Intent Cancellation 98

Social Tables

JANUARY 14, 2022

Many hospitality conferences and conventions were virtual or hybrid events , while others were forced to cancel altogether. Hospitality professionals saw the industry undergo tremendous changes in 2021. As a result, many industry professionals are wondering what to expect from the top hospitality conferences of 2022. The Hotel Show.

Hospitality 158

Hospitality Events Tourism Business 158

Hotelogix

AUGUST 21, 2024

The night audit process aims to collate revenue against various revenue heads. This is when most revenue centres and Hotel POS outlets at a hotel are closed, making it the ideal time. Balancing all revenue centre accounts is called 'Trial Balance,' which helps accurately post the day's room and tax charges.

Revenue 52

Revenue Average Daily Rate Rack Rate Hotels 52

TravelNet

JUNE 26, 2023

With changing consumer behaviors and spending patterns, it is crucial to adapt and implement ways to maximize revenue and control costs. Adapting to changing consumer spending patterns While it’s true that people are still spending, the dynamics have shifted. Strategies to fill gap nights will help boost revenue.

Revenue Management 52

Revenue Management Revenue Occupancy Marketing 52

Hotelogix

JULY 18, 2024

It is an essential practice for hoteliers and revenue managers to optimize pricing, maximize occupancy, and enhance overall profitability. Revenue managers utilize historical hotel performance data, current industry trends, and future demand to make informed projections to maximize revenue. What is Hotel Forecasting?

Forecasting 52

Forecasting Average Daily Rate Occupancy Revenue Management 52

Clock Software Hospitality

OCTOBER 27, 2020

How Has Consumer Attitude to Travel Changed? So in order to adapt to this uncertainty hotel cancellation policies need to be revamped. Naturally, there will be some restrictions as to which bookings can be cancelled with refunds and which could be too costly to refund. Guests are weary of the idea of travel.

Hospitality 52

Hospitality Cancellation Occupancy Revenue 52

Amadeus Hospitality

JUNE 6, 2023

Building on the intuitive shop and book experience available in Amadeus’ iHotelier® Booking Engine , guests will now be offered a variety of travel protection options during the booking process – medical, cancellations, weather, delays and other related coverage.

Travel 52

Travel Ancillary Revenue Cancellation Events 52

Amadeus Hospitality

JUNE 20, 2023

New Amadeus research shows today’s consumers have high expectations and want more personalized, flexible, and sustainable journeys. This will enable the most comprehensive set of content to be available to travel sellers to drive sales and for travel providers to maximize revenue – with the traveler set to benefit. Here’s how.

Hospitality 52

Hospitality Travel Occupancy Revenue 52

TravelNet

AUGUST 3, 2023

of booking before taxes, host pays 3%, though the rate is higher for listings in Italy or hosts with Super Strict cancellation policies. Guest Services Airbnb: There are two options for fees—split with the guest and host-only. In the split-charge, guests pay about 14.2% And it shouldn’t involve guessing.

OTA 98

OTA Management Occupancy Services 98

Boutique Hotel News

OCTOBER 27, 2022

Whilst revenues are up, costs are being squeezed. The consumer is paying more attention to the smaller details, and greater effort is required to monitor reviews in terms of managing responses and quality. . • There are a lot of owners who want to sell, but buyers will perceive assets being brought to market now as having problems.

Hospitality 52

Hospitality Real Estate Hotels Events 52

Hotelogix

OCTOBER 24, 2024

Your front desk staff can use a Hotel PMS to accept, cancel, and modify reservations based on your guests’ requirements. and suggests you the right room rate so that you can get more out of your room revenue. This is a time-consuming process and does not guarantee a real-time update.

OTA 52

OTA Management Overbooking Cancellation 52

Xotels

JANUARY 18, 2021

One of the components needed to apply a hotel revenue management is market segmentation. It allows you to target and market to a variety of consumer groups with different behaviour with an offer that matches their needs and budget level. Total Revenue per Room, Total Revenue per Client. Cancellation %.

Hotel Marketing 40

Hotel Marketing Market Marketing Revenue Management 40

Cloudbeds

JULY 15, 2023

For growing hospitality businesses, a channel manager is a fundamental part of successful revenue management and distribution strategy. The same happens with a cancellation. It then pushes ARI updates to that channel and, for two-way sync, it imports reservations/cancellations into your Channel Manager, PMS, and/or CRS dashboard.

Management 76

Management OTA Cancellation Overbooking 76

TravelNet

DECEMBER 5, 2022

price freeze, cancel for any reason) that have seen record success across Hopper verticals. price freeze, cancel for any reason) that have seen record success across Hopper verticals. Priority Feature Access + Fintech products! – Get priority access to PMC-focused and fintech products (e.g.

OTA 52

OTA Cancellation Management Travel 52

Inn Quest

AUGUST 15, 2023

These software are a valuable ally to hoteliers, helping streamline the distribution process and maximize revenue potential. They can seamlessly increase revenue and effectively respond to market conditions, thanks to their ability to manage rates. To learn about hotel pricing strategies to boost revenue in 2023, read this.

Management 52

Management Global Distribution System Overbooking OTA 52

eZee Absolute

NOVEMBER 19, 2023

Rising cost of daily consumables Challenge Price inflation of daily use products, eatables, and other supplies has risen steeply in the last few years. This further increases hotel bookings, and revenue. Using the complete data analysis tool, you can even apply proper revenue management strategies to earn higher revenue.

Hotels 98

Hotels Hiring Services Business 98

Little Hotelier

APRIL 28, 2023

The best booking calendars grant a hotel the ability to manage their reservations from a single screen: you can view past reservations, modify existing reservations, cancel future reservations and more. In fact, Little Hotelier can save you up to 35 minutes per booking!

OTA 52

OTA Cancellation Hotels Accommodation 52

SiteMinder

FEBRUARY 25, 2024

Sifling through endless news to find the valuable stuff can be a time-consuming pursuit, however. Almost one in five hotel rooms booked online are cancelled prior to travel. Airbnb has become the world’s third biggest online travel agency by revenue generated, trailing only Booking.com and Expedia. billion in 2023.

Hospitality 52

Hospitality Cancellation OTA Tourism 52

Social Tables

SEPTEMBER 21, 2023

Hosting events is an excellent way for restaurants to diversify their revenue streams and increase profits. Acting as an event venue opens restaurants to the revenue potential associated with event rental and catering services—revenue with higher profit margins than traditional food service. Create a revenue strategy.

Events 88

Events Dining Services Accommodation 88

In1solutions

MARCH 4, 2024

By equipping your website with In1 Solutions’ market-leading gifting technology, you’ll tick all the boxes for your guests, championing everything from consumer flexibility to convenience to sustainability. This means increased revenue for you, while also growing your database of customer email addresses and garnering helpful feedback.

Sales 52

Sales Cancellation Digital Marketing Branding 52