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

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

DECEMBER 6, 2023

Drip Feed feature allows you to strategically control inventory across OTAs to maximise revenue and booking conversions. Sending zero inventory to channels when fully booked avoids overbooking. Flexibility to decide where to distribute inventory and at what price points for revenue optimization.

OTA 104

OTA Overbooking Cancellation Closing 104

STAAH

JUNE 18, 2024

It’s about enhancing the guest experience and boosting your revenue. Booking process Display accurate, up-to-date information on room availability and pricing to avoid overbooking and ensure transparency. Allow guests to easily modify or cancel their bookings online.

Cancellation 104

Cancellation OTA Overbooking Accommodation 104

SiteMinder

SEPTEMBER 6, 2023

While they can be a wild card in the hotel management game, they offer a unique opportunity to maximise occupancy and revenue. Boosted revenue : Late bookings often come with higher price tags, capitalising on the urgency of the guest’s needs. An occupied room, even at a discounted rate, is better than an empty one.

Overbooking 98

Overbooking Occupancy Revenue Hotels 98

STAAH

JUNE 11, 2024

Establishing a better mix between OTAs vs. direct bookings from third-party distributors and direct bookings or the right balance OTAs vs. Direct can help modern hoteliers maximise revenue and take full advantage of projected market growth. Invest in marketing: Use meta search engines, SEO and SEM to attract direct traffic to your website.

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OTA Shopping Occupancy Overbooking 109

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

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

OCTOBER 11, 2024

A no-show in the hotel industry occurs when a guest makes a reservation but fails to show up or cancel their booking in advance. The consequences can greatly impact the revenue streams, occupancy rates, and guest satisfaction. Offer Flexible Cancellations  Flexible cancellation policies can significantly reduce no-shows.

Cancellation 52

Cancellation Overbooking Occupancy Hotels 52

SiteMinder

JUNE 24, 2024

Understanding these fees is essential for effectively managing your hotel’s revenue. 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. Overbooking. Table of contents How much are Booking.com fees?

Cancellation 52

Cancellation Overbooking Revenue OTA 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. Generate more revenue.

Revenue Management 98

Revenue Management Hotels Revenue Operations 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

Little Hotelier

JULY 31, 2023

Maximise your property's performance with Little Hotelier Little Hotelier integrates seamlessly with Hotelbeds and MaxiRoom, helping you maximise your bookings and smash your revenue targets. This ensures that your inventory is always up-to-date, reducing the risk of overbooking. Learn more Is Hotelbeds owned by Expedia?

Cancellation 52

Cancellation Overbooking OTA Management 52

SiteMinder

OCTOBER 10, 2023

A channel manager not only streamlines the process of updating your listings but also unlocks the potential for increased revenue through higher online exposure and insightful analytics to understand booking trends. Booking management Handling reservations, cancellations, and modifications is a breeze with our Agoda channel manager.

Management 59

Management Overbooking OTA Hotels 59

eZee Absolute

SEPTEMBER 26, 2024

No-shows are a recurring challenge in the hospitality industry, but with the right strategies, hotels and resorts can minimize their impact and maximize revenue. In this blog, we’ll explore the concept of no-shows in hotels, their impact on revenue and operations, and discuss effective policies to mitigate their effects.

Cancellation 52

Cancellation Hotels Revenue OTA 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 would lead to overbooking and double booking. This too, helps you avoid overbooking and double booking.

OTA 52

OTA Management Overbooking Cancellation 52

Inn Quest

AUGUST 15, 2023

Hotels face a daunting challenge as travelers seek convenience and competitive prices: how to efficiently manage their room inventory across multiple online distribution channels while maintaining real-time updates and avoiding overbooking. This is where a hotel channel manager comes into play.

Management 52

Management Global Distribution System Overbooking OTA 52

Hotelogix

APRIL 18, 2024

For instance, a business that has just started is focused on making money immediately whereas a more established hotel business with steady revenues would concentrate on its reputation. One hotelier in Tanzania (now a client), would log into every OTA and update his room inventory whenever there was a booking or a cancellation.

OTA 52

OTA Overbooking Cancellation Business 52

eZee Absolute

NOVEMBER 6, 2024

Another guest complained about delayed responses to their queries, while the hotel’s management struggled to keep track of bookings and cancellations. Bookings were frequently misplaced, leading to lost revenue and dissatisfied guests. A group of guests arrived, only to find their bookings misplaced due to manual errors.

Cancellation 52

Cancellation Operations Hotels Overbooking 52

Little Hotelier

OCTOBER 11, 2023

This is exciting for your business because it presents an opportunity to push the limits of your occupancy and cash-in on increased revenue. Review your length of stay restrictions Length of stay strategies can boost your revenue when you expect a high volume of bookings coming your way.

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Maximum Length of Stay Minimum Length of Stay Overbooking Occupancy 52

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

Fuel Travel

JULY 11, 2024

It cuts out middlemen, ensuring the best rates for guests and higher hotel revenue. It also prevents overbooking and keeps everything in sync, allowing guests to tailor their stay preferences and enhance their experience. This allows you to optimize rates and sell relevant deals to boost revenue and occupancy.

Upsell 52

Upsell Overbooking Hotels OTA 52

Xotels

JANUARY 18, 2021

One of the components needed to apply a hotel revenue management is market segmentation. As a revenue manager or hotelier, your hotel market segmentation shall help to identify the purpose of the trip: either business or leisure. Total Revenue per Room, Total Revenue per Client. Cancellation %. Day of Weeks stays.

Hotel Marketing 40

Hotel Marketing Market Marketing Revenue Management 40

SiteMinder

OCTOBER 10, 2023

This centralisation is crucial in averting overbooking or underselling scenarios, which could tarnish your hotel’s reputation and result in revenue loss. Moreover, in the event of cancellations or changes in booking, the system instantaneously adjusts the availability, ensuring that every booking opportunity is capitalised upon.

Management 59

Management Overbooking OTA Hotels 59

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

SiteMinder

JULY 21, 2024

Change your business and your life What if you could boost your hotel's revenue while also reducing your workload and giving yourself more free time? Bookings and cancellations are processed immediately and automatically. And if I do have any questions, my concerns are resolved quickly and easily by support,” Peter said.

Operations 52

Operations Overbooking Hotels Cancellation 52

Little Hotelier

FEBRUARY 5, 2024

This feature helps streamline the booking process, reducing the risk of overbooking and ensuring a smooth check-in experience for guests. Reporting and analytics The software includes robust reporting and analytics capabilities, allowing hoteliers to track key performance metrics, such as occupancy rates, revenue, and guest demographics.

Management 59

Management Overbooking OTA Accommodation 59

Hotelogix

OCTOBER 24, 2024

  Without it, hotel staff would have to update each room's availability manually which could lead to errors such as overbookings. Revenue Maximization : By using dynamic pricing, a CRS adjusts your room rates according to demand and market trends. This dynamic pricing strategy helps hotels increase their revenue.

OTA 52

OTA Revenue Hotels Global Distribution System 52

Cloudbeds

JUNE 8, 2023

This year, more properties will invest in technology to help create new revenue opportunities, build better websites , manage marketing campaigns, automate services, and improve the guest experience. To keep it simple, we’ll only consider room revenue. At full occupancy , that’s $6,375 in potential revenue each day. in revenue.

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Management Hotels Revenue Digital Marketing 98

Clock Software Hospitality

NOVEMBER 3, 2020

But as you know it is often easy to book out, if you go low enough with room rates, that said, booking out does not necessarily translate to improved revenue or guest loyalty. Having complete control over occupancy 24/7 will certainly cut down on the manpower it takes to keep inventory in order and prevent unwanted overbookings.

Hospitality 52

Hospitality OTA Revenue Management Hotels 52

Hotelogix

SEPTEMBER 12, 2024

They can also take requests for booking cancellation/modification and room upgrades, etc, with ease. A Hotel PMS provides several operational reports, including a history and forecast report, revenue report, reservation report, housekeeping report, night audit report, financial report, guest history report, occupancy reports, etc.,

Management 52

Management Revenue Management Hotels Operations 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. It also helps hotels avoid stock-out situations and eliminate revenue loss that could arise due to item theft or damage. 

Hotels 52

Hotels Revenue OTA Management 52

eZee Absolute

OCTOBER 16, 2023

Increased Bookings and Revenue: eZee’s reservation management system eliminated the chaos of overbookings and cancellations, leading to increased bookings and improved revenue. With a more efficient booking process, the resort achieved higher occupancy rates and a substantial boost in income.

Resorts 52

Resorts Tourism Fair Share Operations 52

eZee Absolute

DECEMBER 11, 2023

By providing real-time updates, it ensures that all connected channels reflect the most accurate and up-to-date information, preventing overbooking or underbooking while maintaining rate parity. Imagine you have a fully booked weekend, and suddenly a room is available due to a last-minute cancellation. But fear not! It’s a win-win!

Management 59

Management OTA Overbooking Global Distribution System 59

SiteMinder

MARCH 16, 2023

The risk of overbooking rooms is massively reduced, which significantly improves the smoothness of your hotel operations. This way, it won’t only make life easier but you can use the data it provides to source more revenue and profit for your hotel.

Overbooking 52

Overbooking Hotels Accommodation Management 52

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 revenue management system (RMS). Busy Rooms.

Revenue Management 52

Revenue Management Occupancy Revenue Hotels 52

Cloudbeds

JANUARY 10, 2025

Additional booking details may also be provided, such as the cancellation policy, amenities, and inclusions like free breakfast or Wi-Fi. Depending on the site, hotels may also be able to add marketing messaging such as free cancellation or complimentary breakfast. Increase revenue and profitability.

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Cost Per Click Market Marketing OTA 52