STAAH

MAY 16, 2023

Setting the right price for your hotel rooms is crucial for driving revenue and maximizing profitability. Hotel room pricing is a critical element of revenue management for hotels. If you are new to Revenue management and would like to know more, read our in-depth ebook to help you understand better.

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Revenue Management Occupancy Upsell Revenue 98

Inn Quest

MAY 11, 2023

However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world. The question is, how can hoteliers implement effective pricing strategies to boost their revenue and stay ahead of the competition?

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Revenue Occupancy Hotels Marketing 88

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? Do all that and you’ll optimise your revenue by making as much money as possible from a limited resource: your rooms.

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Revenue Average Length of Stay Average Daily Rate Hotels 59

STAAH

JUNE 6, 2023

To make this possible having a robust online booking system is really important to help you reach your revenue goals. 2) Boost your Revenue: Direct bookings generated through a hotel booking engine can significantly boost revenue. You can easily set up your booking cancellation policy on STAAH Booking Engine.

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Cancellation OTA Global Distribution System Revenue 98

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. Using external data about your market can assist here.

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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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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?

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Revenue Management Revenue Resorts Management 52

Cloudbeds

DECEMBER 4, 2024

By integrating spa software with existing hotel technology , hoteliers can streamline guest services, enhance satisfaction, and ultimately drive revenue, capitalizing on the growing demand for wellness tourism. You can set rules and dependencies for your property to optimize revenue.

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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.

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Overbooking Occupancy Revenue Hotels 98

STAAH

NOVEMBER 15, 2022

From the accurate representation of preferred OTAs via a channel manager to an easy-to-use and secure website booking engine data collection, revenue management and online review management , anything that gets you a step closer to making the guest experience better , is a must-have for modern hoteliers. Off-season travel.

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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.

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Revenue Management Hotels Revenue Operations 98

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.

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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.

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Cloudbeds

OCTOBER 23, 2024

Cloudbeds Intelligence marks a breakthrough in eliminating the traditional silos of hotel management, empowering properties to take specific, data-backed actions across every function of their business – including revenue management, marketing, operations, and guest experience.

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Upsell Hospitality Cancellation Forecasting 40

Little Hotelier

AUGUST 17, 2023

Loss leader rooms can also become profitable through upselling and cross-selling. Bookings must be made directly through the hotel , which means they don’t pay the 15%-25% commission fees charged by OTAs, and the reservations are non-cancellable and non-changeable, so the revenue is locked in as soon as the booking is made!

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Hotels OTA Cancellation Upsell 98

SiteMinder

OCTOBER 15, 2023

They can also be known as distribution channels and are crucial for ensuring your hotel maintains a healthy occupancy rate and revenue stream. This blog will explain which channels are the most lucrative for your hotel and how you can maximise revenue using them. Here are five ways you can use booking channels to increase revenue: 1.

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Fuel Travel

JULY 11, 2024

It cuts out middlemen, ensuring the best rates for guests and higher hotel revenue. Properties still relying on phone or form bookings are losing revenue, especially amongst younger travelers who are less likely to reach out directly to the hotel. This allows you to optimize rates and sell relevant deals to boost revenue and occupancy.

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Cloudbeds

OCTOBER 17, 2024

While you want them to choose your hotel (and ideally book through your website), you should also aim to maximize the performance of your booking channels to generate more revenue at lower acquisition costs. Hotel management must balance direct and indirect channels to secure a steady stream of bookings whilst increasing revenue.

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OTA Occupancy Hotels Revenue 76

Little Hotelier

APRIL 19, 2023

They form a record that can be accessed by both you and your guests, which can bring clarity to reservation changes, cancellations or modifications. Little Hotelier is an all-in-one booking system that can increase hotel revenue by up to 43%. Confirmation emails can also help in a managerial sense.

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Cancellation Hotels Branding Upsell 59

Hotel Business

SEPTEMBER 14, 2023

Dynamic upsell: Hotels can engage guests in advance of their stay, offering enhancements like early check-in, late checkout and room upgrades. In doing so, hotel owners can now easily unlock new opportunities to boost revenue and their bottom line. Wyndham also debuted its new OTA reconciliation tool.

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Amadeus Hospitality

NOVEMBER 28, 2023

Even highlighting “free cancellation” or other flexible policies can work to enhance the hotel’s sales and revenue strategies. As a hotelier this is a valuable upsell opportunity if you can be creative in how you advertise your property to appeal to both the business and leisure side of the guest experience.

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Clock Software Hospitality

NOVEMBER 24, 2020

The same goes with the reverse, late cancellations are automatically relisted, allowing the hotel to optimise its revenue potential. An Independent Hotel’s PMS Increases Upsell Potential All hoteliers are looking for ways to increase the lifetime value of their guests, but an upsell is a fickle thing.

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Travelboom Marketing

SEPTEMBER 1, 2023

Alternatively, less expensive room rates can be redeemed through more aggressive upselling. Considering offering an early check-in, and / or free cancellation to guests that book direct. A hotel loyalty program would amplify these opportunities to upsell. Higher rates can mean more on-site rewards for guests.

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Hotels Upsell Ancillary Revenue Travel 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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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.

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Management OTA Cancellation Overbooking 76

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. Improve Revenue Management Revenue management tools are the height of innovation in hospitality technology.

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Hospitality OTA Revenue Management Hotels 52

Hotelogix

FEBRUARY 28, 2025

This article will show you how ChatGPT can help hotels keep guests engaged , improve their experience, and increase revenue , all while reducing staff workload. Handle bookings and cancellations smoothly – No long waiting times, just instant action. Now, what if I told you that a simple AI-powered system could change that?

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General Manager Hotels Forecasting Upsell 52

Clock Software Hospitality

DECEMBER 8, 2020

Read more: Upselling as a Way of Improving Guest Loyalty Casting a wide net is one way to ensure full occupancy but it is hardly a profitable marketing approach in the long run. The new guest acquisition can cost the hotel owner a pretty penny, and there can be no surefire way of establishing how much a guest is going to spend until they do.

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Cancellation Hotels Services Occupancy 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. 

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Hotels Revenue OTA Management 52

Little Hotelier

MARCH 10, 2024

Ultimately, by finding weaknesses or identifying strengths in your competitors, competitive analysis can help you maximise revenue for your own business. This will allow you to offer specific deals, packages, and rates to maximise bookings and revenue. You may be able to implement valuable upsells and add-ons.

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Accommodation Hotels Services Marketing 52

Cloudbeds

JULY 27, 2023

Trivago’s Free Booking Links provide hoteliers with a unique distribution channel for their website rates and availability, giving them more visibility and the opportunity to generate more direct revenue. It’s worth noticing that you pay the rate per click, regardless of whether the booking is later canceled.

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Cost Per Click OTA Digital Marketing Accommodation 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. Upsell and cross-sell.

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Cost Per Click Market Marketing OTA 52

Fuel Travel

JANUARY 24, 2023

Improve up-sells – pre-arrival emails are a key way to increase revenue per reservation at your hotel. Hotels using pre-arrival emails reported that 98% of their upsells came via emails before arrival rather than at the front desk. Reduce cancellations with confirmation emails that reassure guests.

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Email Marketing Marketing Market Hotels 52

Hotelier Magazine

JANUARY 24, 2024

He says the systems also provide an opportunity for upgrades, cross-sells or upsells, which might include a better room or a deal on a spa package. Keenan says he’s already able to track how much revenue is generated from certain email campaigns. “We

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Business Hospitality Email Marketing Management 59

Clock Software Hospitality

NOVEMBER 10, 2020

The lifespan of a guest’s loyalty is at the foundation of revenue optimization strategies, which is why during a travel drought such guests increase their value exponentially. During 2020 loyal guests have doubled their value to the establishment they frequent. What keeps a guest loyal is a topic of debate which never dies down.

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Services Hospitality Cancellation Upsell 52

SiteMinder

JANUARY 8, 2024

Hotel management made easy Streamline hotel management, boost revenue, and enhance guest experience with SiteMinder's smart platform. Revenue management: Depending on the size of the hotel, the task of managing revenue might be given to the general manager or to a dedicated financial officer.

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Operations Management OTA Hotels 59

SiteMinder

JANUARY 8, 2024

Hotel management made easy Streamline hotel management, boost revenue, and enhance guest experience with SiteMinder's smart platform. Revenue management: Depending on the size of the hotel, the task of managing revenue might be given to the general manager or to a dedicated financial officer.

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Operations Management OTA Hotels 52