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. What drives more value to the business, ADR, average daily rate, or occupancy?

Revenue Management 49

Revenue Management Occupancy Revenue Average Daily Rate 49

Cloudbeds

MAY 8, 2024

It also shows what type of guests are staying at your hotel and even what booking channels (direct, online travel agencies (OTAs), etc.) You will have a better understanding of who is your guest and the percentage you are selling to each segment (ideally per month) such as: direct bookings (transients etc), corporate, groups, long stay, OTAs.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

SiteMinder

JUNE 24, 2024

Boost your revenue via Booking.com with SiteMinder Combine Booking.com’s incredible reach with SiteMinder’s cutting-edge software to be seen - and booked - by a global audience. Learn more Booking.com fees for hosts and hotel owners Like many OTAs, Booking.com charges some fees to hosts and hotel owners, and some to guests.

Cancellation 52

Cancellation Overbooking Revenue OTA 52

Cloudbeds

MAY 15, 2024

Rate parity is a common practice in hotel revenue management. On the one hand, it makes it easier for hotels to manage their pricing strategy, preventing dumping and price wars. Pros and cons of rate parity Rate parity is regulated by contractual agreements between hotels, OTAs, and other booking platforms.

OTA 52

OTA Hotels Revenue Management Revenue 52

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.

Revenue Management 98

Revenue Management Revenue Hotels Operations 98

STAAH

MAY 16, 2023

Hotel room pricing is a critical element of revenue management for hotels. Hotel managers and revenue managers use data analysis and revenue management tools to determine the optimal price for each room based on various factors such as occupancy rates, booking trends, and competitor rates.

Revenue Management 90

Revenue Management Occupancy Upsell Revenue 90

SiteMinder

NOVEMBER 6, 2023

The platform works in a similar way to OTAs like Booking.com and Expedia , making money by charging an Airbnb commission on the reservations it facilitates. Stop paying OTA fees, start earning more Airbnb and other booking channels charge commission fees of 15%-25% which seriously eat into your bottom line. What are Airbnb fees?

Cancellation 59

Cancellation Services Hotels OTA 59

SiteMinder

JUNE 12, 2024

What is Yield Management? 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. Revenue management is the focal point for hotels in today’s climate.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

Cloudbeds

OCTOBER 17, 2024

A hotel distribution strategy involves selecting and managing the different channels through which a hotel sells its rooms to potential guests. A basic strategy might involve listing your property on a few key online travel agencies (OTAs) like Airbnb and Booking.com and leaving it at that.

OTA 76

OTA Occupancy Hotels Revenue 76

STAAH

MAY 30, 2023

By incentivizing forward bookings with flexible cancellation policies, hotels can secure revenue and manage visibility effectively with the help of a comprehensive tech stack, including a channel manager and property management system (PMS). Don’t clutter your homepage, keep it simple and modern.

OTA 86

OTA Hotels Revenue Travel 86

Hotelogix

SEPTEMBER 12, 2024

They can also take requests for booking cancellation/modification and room upgrades, etc, with ease. Here are some other tasks a front office staff performs with a Hotel PMS- Guest Registration Check-in/checkout Night Audit Room management Housekeepings: Excellent housekeeping plays a vital role in ensuring guest satisfaction.

Management 52

Management Revenue Management Hotels Operations 52

Hotelogix

OCTOBER 24, 2024

A Central Reservation System (CRS)  helps hotels manage room availability, pricing, and bookings from different channels. These channels include Online Travel Agencies (OTAs) like Booking.com, direct bookings through the hotel’s website, and Global Distribution Systems (GDS).

OTA 52

OTA Revenue Hotels Global Distribution System 52

Cloudbeds

NOVEMBER 15, 2024

If there’s a sudden change, for example, an influx of last-minute bookings hits the system, the platform can enable revenue managers to adjust room rates dynamically to maximize revenue. Decision intelligence unifies the full range of pricing decision-making through both OTAs and direct bookings.

Upsell 52

Upsell Occupancy Revenue Management Revenue 52

TravelNet

JUNE 26, 2023

Take time to reexamine your cancellation policy, rates, and fees. Double down on marketing efforts Property management companies who thrive in a down-turn market tend to double down on marketing. Revenue management Implementing revenue management strategies is essential for maximizing revenue.

Revenue Management 52

Revenue Management Revenue Occupancy OTA 52

SiteMinder

JUNE 11, 2024

“It’s especially improved efficiency, since it allows us to manage four properties at once by eliminating manual updates.” “On On top of that, it enhances our revenue management through dynamic pricing, optimising room rates based on demand, season, and events,” she continued. “It

Global Distribution System 98

Global Distribution System Revenue Hotels Operations 98

Cloudbeds

JULY 15, 2023

For growing hospitality businesses, a channel manager is a fundamental part of successful revenue management and distribution strategy. In this guide for hospitality professionals, you’ll learn all about Channel Managers, from how they work to what makes great software for your business specifically.

Management 76

Management OTA Cancellation Overbooking 76

STAAH

NOVEMBER 15, 2022

In fact, OTAs such as Expedia have updated their algorithms to give preference to properties that have been called out by guests for their fantastic guest experience. In related trends, booking windows are much shorter and cancellation policies continue to be very flexible across the industry. Focus on customer experience.

Hospitality 88

Hospitality OTA Travel Cancellation 88

SiteMinder

SEPTEMBER 18, 2024

For instance, younger families often discover us through social media-driven booking channels, while our mature travelers prefer more traditional OTA platforms.” We get notified of cancellations through the integrations, which allows better visibility on inventory and guest records,” explained Heather.

Scale 52

Scale Resorts Management Business 52

Little Hotelier

AUGUST 7, 2023

Travelocity is an online travel agency (OTA) that has been serving travellers since 1996. Travelocity is similar to other OTAs like Expedia , Kayak, and TripAdvisor. Some customers have reported issues with customer service and cancellations. What is Travelocity? The price match guarantee is more extended for hotels.

OTA 52

OTA Hotels Services Revenue 52

SiteMinder

NOVEMBER 15, 2022

Some hoteliers love using this strategy to boost their revenue and protect their property from losing out due to last-minute cancellations. Many hotels do this deliberately to offset last-minute cancellations or no-shows and avoid losing revenue and occupancy. To avoid losing revenue.

Overbooking 52

Overbooking Cancellation Occupancy Closing 52

Clock Software Hospitality

NOVEMBER 3, 2020

Here are some of the ways in which hotel PMS solutions can aid a hotel in improving daily operations: Increase RevPAR via Direct Bookings Online travel agencies (OTAs) allow hoteliers unlimited access to a large pool of potential guests, charging a commission for every booking made through them.

Hospitality 52

Hospitality OTA Revenue Management Hotels 52

Cloudbeds

AUGUST 8, 2024

Whether you’re a revenue manager, accountant, front office manager, or hotel owner, you need real-time data and visualizations to understand what’s happening at any given time. With business intelligence, you have the knowledge to drive hotel operations, increase your revenue, and enhance your guest experience.

Business 40

Business Revenue Management Forecasting Revenue 40

SiteMinder

FEBRUARY 25, 2024

Almost one in five hotel rooms booked online are cancelled prior to travel. Google says “ …not now, not ever ” will it become an OTA (Online Travel Agent). This drives many travellers to the big name OTAs – 23% of Millennials choose OTAs based on ease-of-use over price, user-friendliness and security.

Hospitality 52

Hospitality Cancellation OTA Tourism 52

Xotels

AUGUST 9, 2021

Google is taking the hotel industry by storm to gain market share and grow their advertising revenues. We will take a look at how Google is penetrating the hotel distribution vertical with Google Hotel Ads, and what opportunities this gives in terms of hotel revenue management and marketing. From Hotel Finder to GHA.

Market Share 52

Market Share Hotels OTA Cancellation 52

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. So what is revenue optimisation? What data should hotels prioritise in revenue optimisation analytics?

Revenue 59

Revenue Average Length of Stay Average Daily Rate Hotels 59

Cloudbeds

APRIL 2, 2024

Using data from various systems, including your PMS, revenue management system (RMS) , and customer relationship management (CRM) system, hotels can strategically leverage data to implement dynamic pricing strategies and personalized, segmented, and tailored campaigns via their CRS. The property management system.

Revenue Management 52

Revenue Management Occupancy Revenue Hotels 52

Little Hotelier

FEBRUARY 5, 2024

Features Channel management Little Hotelier’s channel manager lets you do away with endless OTA dashboards, bringing all your booking channels together in a single, simple portal. Headquartered in Greece, its revenue management and optimisation tool offers online reputation tracking and management.

Management 59

Management OTA Hotels Accommodation 59

Hotelogix

DECEMBER 25, 2023

  More online room sales A cloud-based PMS can easily integrate with other third-party hospitality solutions like a hotel channel manager. The integration allows real-time rates and inventory updates across multiple online sales channels, including OTAs and metasearch engines.

Revenue 59

Revenue Sales Shopping Hotels 59

Cloudbeds

MARCH 20, 2023

It is a fundamental process of revenue management, but also brings benefits to marketing, operations, and the guest experience. When lodging operators divide guests into segments, they can be more targeted in promotions, communications, and guest services to increase revenue, guest loyalty, and guest satisfaction.

Hotel Marketing 52

Hotel Marketing Market Marketing Average Daily Rate 52

Hotelogix

OCTOBER 19, 2023

It also aids in managing reservation cancellations and modifications, accepting reservations, sending confirmation emails, extending self-service facilities to guests, processing payments, etc. The primary objective is to help hotels sell more at the best rates to the right guest to boost occupancy and revenue.

Hotels 52

Hotels Revenue OTA Management 52

Hotel Business

SEPTEMBER 14, 2023

Wyndham also debuted its new OTA reconciliation tool. Aimed at correcting the OTA overbilling that can occur when a guest no-shows, cancels or shortens their reservation, the tool automatically reconciles each hotel’s stay data with the commissions previously charged at the time of booking.

Average Length of Stay 64

Average Length of Stay OTA Services Revenue 64

Inn Quest

MAY 11, 2023

Best Hotel Pricing Strategies in 2023 Dynamic Pricing: Dynamic pricing is a revenue management strategy that allows hotels to adjust their room prices in response to fluctuations in market demand. This strategy works especially well for lodging facilities that encounter seasonal fluctuations in demand or a high rate of cancellations.

Revenue 88

Revenue Occupancy Hotels Marketing 88

SiteMinder

JANUARY 8, 2024

Types of hotel management If we zoom in on accommodation management, it too can be divided into a few different categories, which reflect the broad range of tasks and challenges that hotel management presents. You’ll need smart revenue management and pricing strategies if you want to optimise your Average Daily Rate (ADR).

Operations 59

Operations Management OTA Hotels 59

SiteMinder

JANUARY 8, 2024

Types of hotel management If we zoom in on accommodation management, it too can be divided into a few different categories, which reflect the broad range of tasks and challenges that hotel management presents. You’ll need smart revenue management and pricing strategies if you want to optimise your Average Daily Rate (ADR).

Operations 52

Operations Management OTA Hotels 52

SiteMinder

NOVEMBER 24, 2023

SiteMinder definitely is my favourite channel manager as it’s easy to use, integrates with all the major OTAs and has very good customer service. Great integration and channel management” – Revenue manager of a business hotel in South Africa Pros: The ability to distribute inventory to all channels with a click of a button.

Revenue 52

Revenue Revenue Management Management General Manager 52

Fuel Travel

JULY 11, 2024

This information is sourced directly from the hotel’s property management system. If the hotel is using a revenue management platform, the specific rates are managed and optimized in either that system or in the PMS itself. Reduced Dependency on OTAs Create a more balanced distribution strategy.

Upsell 52

Upsell Overbooking Hotels OTA 52

eZee Absolute

JANUARY 9, 2023

Leverage the power of OTAs. You can also turn to revenue management experts to create pricing strategies that bring in better profit. Which is why it is imperative to offer flexible booking options, such as the ability to easily change or cancel reservations. Leverage the power of OTAs. Use social media marketing.

OTA 52

OTA Hotels Accommodation Travel 52