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.

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Hotel Management

JANUARY 7, 2024

Trip cancellations throughout December resulted in a sharp drop in occupancies, from mid-70% down to 30%, equating to millions of dollars of lost revenue, according to Accommodation Australia CEO, Michael Johnson.

Tourism 287

Tourism Cancellation Accommodation Occupancy 287

eZee Absolute

MAY 13, 2024

Well, the answer lies in how well you’re using your Hotel Revenue Management System (RMS) reports. But with so many reports available, how do you find the ones essential for maximizing your hotel’s revenue? Flash Report Flash Report presents the summary of hotel performance metrics.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

eZee Absolute

SEPTEMBER 22, 2023

Running a hotel is a complex and balancing act: you want to ensure all your rooms are booked and your guests are happy, but how do you set the right prices to make this happen? Well, that’s where “hotel rate types” come into play. Table of Content What are hotel rate types? So, let’s dive in!

Revenue 52

Revenue Management Occupancy Revenue Management 52

Hospitality Net

AUGUST 27, 2023

Yield management allows hotels to manage the capacity of their rooms more profitably, and the accuracy of statistical forecasting determines how useful it will be. Inaccurate forecasts can result in decreased revenue, earnings, and operational challenges, which makes getting it right critical.

Forecasting 188

Forecasting Yield Management Cancellation Revenue Management 188

SiteMinder

MAY 6, 2024

With four years in operation, Golden Collection Hotels is dedicated to developing innovative strategies to help independent hotels compete with large companies in the travel industry. The brand specialises in boutique hotels and are currently working with more than 20 properties to help increase their sales.

Revenue 52

Revenue Cancellation Hotels Sales 52

Hotelogix

DECEMBER 25, 2023

A Hotel Property Management System (Hotel PMS System) is a solution that streamlines and automates the daily operations of a hotel. It is a powerful tool that efficiently enables hotel managers/owners to manage guest reservations, room assignments, check-ins, check-outs, billing, housekeeping, and many other essential tasks.

Revenue 59

Revenue Sales Shopping Hotels 59

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 73

Revenue Management Revenue Management Forecasting 73

Inn Quest

OCTOBER 17, 2023

This is why our guide discusses how to avoid overbooking in hotels. As is known, overbooking can be a delicate issue for hotels, as it causes disgruntled guests who are unable to check into their rooms. Hotel Overbooking: Concerning or Not? Hotel overbookings are concerning but not uncommon in the industry.

Overbooking 88

Overbooking Cancellation Forecasting Occupancy 88

STAAH

FEBRUARY 6, 2024

What is a hotel overbooking strategy? 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.

Overbooking 90

Overbooking Cancellation Upsell Revenue 90

Little Hotelier

MARCH 25, 2024

What is hotel forecasting? Hotel forecasting, also known as hotel demand forecasting, is a strategy that sees a hotel analyse historical data and trends to make predictions about future demand. Hotel forecasting reports are built on a foundation of data. Small, independent hotels might form quite basic forecasts.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

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. How can I make more profit with my hotel?’ Article Summary: Which is it? Occupancy or ADR?

Revenue Management 49

Revenue Management Occupancy Revenue Average Daily Rate 49

Hotel Speak

JUNE 4, 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. How can I make more profit with my hotel?’ Basically, any cost related to selling rooms.

Revenue Management 47

Revenue Management Occupancy Revenue Average Daily Rate 47

SiteMinder

MAY 25, 2023

SiteMinder and The Hotels Network Conversion rates and abandoned reservations have always been a challenge for hotels, more so than in most other industries. The average hotel website converts somewhere between 1.5-2.5% Here are the 10 best tips from SiteMinder and The Hotels Network: 5 tips from SiteMinder 1.

Revenue 98

Revenue Cancellation Hotels Accommodation 98

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.

Occupancy 86

Occupancy Revenue Cancellation Hotels 86

Hotelogix

NOVEMBER 13, 2023

The hospitality industry is well acquainted with the concept of hotel overbooking. Although it is a  common practice in hotel management, it has been a matter of debate particularly because of the complications it brings during peak hours. However, in cases of last-minute cancellations, your profit is badly impacted.

Overbooking 59

Overbooking Cancellation Occupancy Revenue 59

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. Additionally, you may distribute your hotel rooms across multiple third-party channels such as OTAs , GDS providers , or meta-search providers.

Overbooking 98

Overbooking Cancellation Occupancy OTA 98

Webrezpro

FEBRUARY 5, 2024

Collected here are various statistics and forecasts to inform you of important global and local trends, revenue drivers, cancellation rates, market insights, and guest/consumer preferences. Knowing your numbers lends valuable insight for hoteliers as they plan and strategize for the year ahead.

Cancellation 85

Cancellation Forecasting Consumer Hospitality 85

Cloudbeds

MAY 8, 2024

Searching for demand patterns for your property is like traveling to the past and then going to the future to forecast how to set up your hotel for success. Instead of a time machine, you need data on your hotel’s booking performance from your property management system. And no, it’s not a “Back to the Future” movie scene.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

STAAH

DECEMBER 12, 2023

Here are 8 smart pricing strategies for hotels to boost revenue and drive more bookings during the holiday season The holiday season marks a period of increased travel, festive cheer, and heightened demand in the hospitality industry. Let’s explore some tips to maximize your hotel’s profitability during this festive period.

Target Marketing 80

Target Marketing Cancellation Forecasting Revenue 80

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. We need to fill our hotels!

Revenue Management 64

Revenue Management Revenue Management Forecasting 64

Hotelogix

AUGUST 21, 2024

Night Audit in Hotel Front Office is a significant part of a hotel's accounting process. This process records, reviews, and collates all the hotel's financial activities in one day and posts them on appropriate account heads. What is Night Auditing in the Hotel Industry? How to do a Night Audit at a Hotel?

Revenue 52

Revenue Average Daily Rate Rack Rate Hotels 52

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

JULY 15, 2024

Booking lead time is the time between a guest making their booking and arriving at your hotel for their stay. For example, a guest who books your hotel on the 17th of July and arrives on the 31st of July has a booking lead time of 14 days. Greater lead time also gives your hotel more time to learn about your guests.

Cancellation 52

Cancellation Hotels Revenue Travel 52

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.

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Yield Management Management Revenue Management Revenue 98

Hotelogix

NOVEMBER 13, 2023

Pricing strategies in the hotel industry is one topic that will forever be discussed by hoteliers the world over. After all, there is no magic mantra that is universally approved for hotels to achieve their goals and increase hotel Revenue! What is Hotel Room Pricing Strategy?

Revenue 52

Revenue Occupancy Forecasting Minimum Length of Stay 52

Hotelogix

JANUARY 30, 2024

As a hotelier, monitoring your hotel's performance is paramount to ensuring smooth operations and maximizing revenue. In this context, reports are critical as they provide key insights into your hotel's operations, from housekeeping to finance, marketing, and guest preferences.

Occupancy 59

Occupancy Average Daily Rate Hotels Cancellation 59

SiteMinder

JUNE 24, 2024

Booking.com fees refer to the various charges that hotel owners and hosts incur when listing their properties on Booking.com. Understanding these fees is essential for effectively managing your hotel’s revenue. If your hotel charges additional resort fees, these need to be clearly communicated to guests and managed separately.

Cancellation 52

Cancellation Overbooking Revenue OTA 52

SiteMinder

SEPTEMBER 7, 2023

What are hotel fees? Hotel fees encompass a range of extra charges guests may pay for amenities and services. They can also be strategic revenue boosters that can significantly elevate your hotel’s profitability. They help mitigate the revenue loss from unsold rooms and encourage responsible booking behaviour.

Revenue 105

Revenue Hotels Services Cancellation 105

SiteMinder

DECEMBER 4, 2023

What are hotel industry statistics? Hotel industry statistics refer to data and metrics relating to hotels and other accommodations in the industry. Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more. globally next year.

Occupancy 59

Occupancy Hotels Revenue Average Length of Stay 59

SiteMinder

NOVEMBER 6, 2023

In this guide we’ll attempt to bring a bit of clarity to what a hotel might face in terms of Airbnb taxes and fees. Split fee: Usually 3% of every booking, though the fee may be slightly higher for hosts with listings in certain areas of Italy, for Airbnb Plus hosts, or for those who opt for a ‘super strict’ cancellation policy.

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Cancellation Hotels Services OTA 59

SiteMinder

JUNE 11, 2024

Brady Hotels & Apartments is an independent hotel group owned and operated out of Melbourne, Australia. With four locations in the heart of the city, Brady Hotels is characterised by its genuine service and authenticity. Our smart hotel platform helps you do exactly that.

Global Distribution System 98

Global Distribution System Revenue Hotels Operations 98

Hotelogix

JULY 18, 2024

Hotel forecasting, also known as hotel demand forecasting, is a strategic process that predicts future demand for hotel rooms and services based on historical data, market trends, and various influencing factors. What is Hotel Forecasting?

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Forecasting Average Daily Rate Occupancy Revenue Management 52

SiteMinder

MARCH 22, 2023

For many years, SiteMinder has released annual data detailing the top revenue making channels for hoteliers. While this has always provided powerful knowledge, this year we wanted to take it further and give your business even more actionable insights.

Average Length of Stay 52

Average Length of Stay Average Daily Rate Cancellation Revenue 52

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

STAAH

MAY 24, 2023

6)Identifying popular cancellation policies: By analyzing popular cancellation policies , hoteliers/accommodation providers can gain a better understanding of guest preferences and factors that influence their decision to cancel a booking. How to view Market Insights in STAAH MAX?

Market 83

Market Marketing Cancellation Accommodation 83

Hotelogix

NOVEMBER 12, 2023

Call them hotel reports or hotel management system reports, they help you gain insights on your hotel business so that you can make data-driven decisions. However, without a hotel property management system, it would be next to impossible to extract those reports manually.

Management 59

Management Occupancy Revenue Average Daily Rate 59