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Themed dining events, branded F&B products or package deals can encourage guests to dine in-house. Optimise Retail Products and Niche Services Hotel-branded signature items are a growing market right now – even luxury giant Aman sells a $2,700 branded tote bag.
For years, the gold standard guiding business strategies for hotels has relied heavily on historical data, analyzed a few times a year (at best), making it difficult to swiftly respond to changing market conditions. For hotels, this includes making dynamic rate suggestions and identifying segments and offers for marketing campaigns.
Staying competitive with innovative merchandising strategies The best CRSs on the market are as efficient as today’s leading e-commerce giants – providing a fast, seamless shop and book experience that consumers love. As the hospitality industry evolves, it’s exciting to see more hoteliers recognizing the immense value of a CRS.
Midscale hotels can also differentiate themselves in a competitive market by harnessing the power of technology to deliver tailored experiences. This enables your team to provide more relevant and valuable upsells. All teams, marketing, F&B, golf teams etc. AI can play a significant role in enhancing personalisation.
Instead of relying on guesswork, revenue tools analyze: Market demand How many people are looking for rooms in your area? Customer Relationship Management (CRM) System A CRM organizes guest data so that you can personalize their experience and market to them with the right offers at the right time. And not just from your hotel rooms?
With travel demand set to grow 8% annually by 2025 , nows the time to embrace bold hotel marketing strategies that captivate guests and boost bookings. Hotel marketing strategies are carefully crafted tactics that hotels use to promote their services, attract guests, and drive bookings. Ready to make every click count?
Analyzing hotel data is a significant way to offer guests customized, revenue-driving recommendations If you aren’t tracking guest behaviors and using this hotel data to provide your guests with personalized, revenue-driving recommendations, you’re missing out on a major upsell opportunity. The following are a few ways this can be achieved.
Be it luxurious accommodations, exclusive dining, or wellness experiences, Songkran visitors crave it all. Upsell with Mobile Solutions Leverage YCSs Mobile App for easy upselling and guest engagement. During Songkran, travelers dont just stay longer; they spend more. Tips to Boost Songkran Bookings and Delight Guests 1.
From spa services to dining experiences and beyond, hoteliers are leveraging dynamic pricing strategies to optimize ancillary revenue streams. Hotels can increase revenue per guest by adjusting prices according to demand, seasonality, and consumer preferences , achieved through upselling and cross-selling additional services and products.
With the food tech market slated to be valued at nearly $342 billion USD by 2027 , the demand for increased technology implementation in the industry will continue to rise. Kiosks also offer greater ordering accuracy and provide great upselling opportunities with intuitive recommendations.
These tools can adjust your rates automatically, based on real-time data and market trends. Upselling and Cross-Selling: Upsell Room Upgrades: Train your staff to offer room upgrades or premium amenities at check-in. Cross-Sell Other Services: Offer guests extra services like spa treatments, dining experiences, or local tours.
Providing upselling opportunities: Once a guest has booked a room, there are additional opportunities to upsell services such as dining or spa packages, thereby increasing overall revenue. These events might include music or art festivals, Easter or Christmas events, circuses, travelling markets, sporting events etc.
Deploying a staff operations hub that not only lets hotel staff streamline operations and increase guest satisfaction but also tracks guest behaviors and data is key for when it comes to upselling and maximizing revenue. Take in-room dining , for example. Want to learn how to increase hotel revenue at your property by using guest data?
Personalized promotions go a long way when it comes to cross-selling, upselling, and retaining hotel guests We all know upselling and cross-selling tips are hot topics in the retail industry, but they’re also important factors when it comes to marketing to your hotel guests.
With travel and tourism in Asia Pacific (APAC) projected to grow at a compound annual growth rate (CAGR) of 4.10% from 2025 to 2029 – reaching an estimated market volume of US$358.70 Hoteliers can unlock this potential by diversifying their revenue streams and leveraging guest data to create targeted upsell opportunities.
The current market conditions for hotel F&B are exceptionally challenging. Addressing lost income Revenue leaks in hospitality F&B are varied, including no-shows or – even worse – an increase in ‘dine and dash’ , food waste, and overstaffing. Some of these are harder than others to prevent.
This shift requires a comprehensive approach integrating cost control, strategic marketing, and top-notch guest services. Train your staff to identify and capitalize on upselling opportunities. Increasing your Hotel's Market Share Growing your market share requires strategic marketing and distribution efforts.
In order to maximize revenue across the business, hoteliers should focus their budget on elevating the guest experience using advanced reservations, distribution, marketing, and data services. These assets can all be creatively worked into pricing and upselling strategies during the shop and book process.
By understanding and anticipating guest behaviour and market dynamics, hotels can optimise their pricing strategies to boost their bottom line. This includes offering tailored packages, suggesting room upgrades, promoting in-house dining experiences, and even curating special entertainment events.
Whether its a seamless check-in process, personalized dining recommendations, or proactive problem-solving, customer satisfaction is at the heart of every hotel, resort, and travel business. Higher Revenue Potential Dynamic pricing models enable hotels to capitalize on market demand fluctuations, ensuring optimal pricing strategies.
Promote sales and marketing synergy How frequently do you search the web to find information? Having an online booking system can connect your sales and marketing efforts. Upselling An online booking system helps with upselling by presenting guests with additional services or upgrades during the reservation process.
Upselling and Cross-Selling Opportunities Effective Upselling Techniques Reception staff are in a prime position to upsell additional services and room upgrades. Training reception staff in upselling techniques is crucial for maximizing these opportunities.
Such revenue can come from various sources, including: Food and Beverage: Restaurants, bars, in-room dining, and catering services can significantly contribute to ancillary revenue. Offering diverse dining options, themed events, and unique culinary experiences helps attract guests and drive F&B sales.
Segment Your Market: Not all guests are created equal. Segment your market and tailor your pricing to each segment. A dynamic pricing strategy allows you to react to market fluctuations in real-time , ensuring you’re always maximizing revenue. Use Dynamic Pricing: Don’t be afraid to change your prices frequently.
Hoteliers utilise discount pricing to fill rooms during slow seasons, entice loyal customers, or to stay competitive when market conditions change. Discount pricing strategy examples Each discount pricing strategy serves a unique purpose and caters to different market demands.
Let's explore some tried-and-true ways to make your place stand out in the busy hospitality market. It's vital to understand your target market. Is it your breathtaking sea views, your green practices, or your prize-winning dining spot? Highlight What Makes Your Hotel Unforgettable What sets your property apart?
Segment Your Market: Not all guests are created equal. Segment your market and tailor your pricing to each segment. A dynamic pricing strategy allows you to react to market fluctuations in real-time , ensuring you’re always maximizing revenue. Use Dynamic Pricing: Don’t be afraid to change your prices frequently.
Segment Your Market: Not all guests are created equal. Segment your market and tailor your pricing to each segment. A dynamic pricing strategy allows you to react to market fluctuations in real-time , ensuring you’re always maximizing revenue. Use Dynamic Pricing: Don’t be afraid to change your prices frequently.
Market competitiveness : Being able to efficiently handle last-minute bookings positions your hotel as agile and responsive, qualities that modern travellers highly value. Pre-arrival upselling Late bookings offer a narrow window for pre-arrival upselling, but it’s a golden opportunity.
Importance of Pricing Strategies to Grow Your Hotelier Business Any hotel must have an effective pricing strategy to be successful, especially in a competitive market. Staying Competitive: Finally, hotel pricing strategies are essential to stay competitive in the market.
It slowly evolved into a more general travel booking service, and by 1986 had been given a new name Covia and was being marketed as an independent affiliate of United Airlines. It allows your hotel to tap into markets that can be impossible to reach through traditional hotel marketing efforts.
Here’s why they’re beneficial: Revenue diversification Hotel packages allow you to diversify your revenue streams by upselling various services and amenities. Whether it’s spa treatments, dining experiences, or exclusive tours, these packages encourage guests to spend more, boosting your overall revenue.
Key Tactics for the Preparation Stage: Send pre-arrival emails with useful information about local attractions, dining options, and tips for their stay. Offer upsells during the stay, such as room service, spa services, or local tours. This stage is an opportunity to engage further and enhance their anticipation.
Beyond enhancing the customer experience, travel sellers are empowered to upsell additional services and personalize their offerings with room preferences, flexible dining, spa and fitness options, additional activities, and experiences to maximize returns.
Ideally situated at the heart of the thriving tourism hotspot, City Oasis offers spacious comfortable rooms equipped with a kitchenette, free WiFi, an award-winning lagoon style pool, tropical BBQ area, dine-in restaurant, and free access to the nearby gym and memorial baths.
A concierge can help guests with everything from local tips to arranging special experiences, and these efforts can translate into increased revenue through upselling tours, local events, or unique add-ons. Meg Hollins, Marketing & Events Manager Holbrook Hotel Read more What is the best hotel concierge software?
For instance, unique deals like hotel room upsell, or late checkouts can improve the stay while generating additional revenue. Even better, you can take advantage of this to increase your revenue by providing them with a hotel upsell, such as an airport pick-up or room upgrade. to your guests.
Once a booking is made, automated emails kick in, confirming the reservation and even suggesting add-ons like room upgrades or dining options. This data-driven approach can give you a competitive edge in an increasingly crowded market. Table of contents Why is an online booking process important for hotels?
According to IndustryARC, the global AI market in hospitality is expected to surpass USD$1.2 AI allows you to customize guest interactions by: Adjusting room settings; Offering tailored dining choices; Recommending local activities. AI is enhancing the guest experience and improving operational efficiency while elevating profits.
The science of resort revenue management transforms various factors, such as booking patterns, guest behaviour, market trends, and competitor analysis, into tangible insights that drive financial performance. By grasping the market dynamics and customer preferences, they can make informed decisions and seize lucrative opportunities.
Increase upsells and order volumes with complementary items Strategically placing complementary items on digital menus such as side dishes, drinks or chef pairings can both enhance the guest’s dining experience and significantly increase the average order size. Kate Fuller is the senior marketing manager for IRIS Software Systems.
This allows a hotelier to] for instance, know what motivates guests to spend at the restaurant or, conversely, how to encourage locals dining at your restaurant to recommend your hotel to their friends. “A A well-structured CRM can do this and far more when it comes to micro-segmentation.
Hotels can deliver better service with a fully mobile platform, robust automation, mobile guest check-in and automated upsells that drive ROI. Stayntouch kiosk: With a fully customizable check-in kiosk, hotels can reinvent their lobby into a guest-centric space for socializing, dining and coworking. Stayntouch 2.0 Stayntouch 2.0
The UK is the world’s third largest eCommerce market, with 80 per cent of people shopping online – tipped to rise to 89.6 Just like Netflix recommends programmes to watch, hotel upsells can now be driven by real-time data decisions. Hotels need to be more Selfridges. . A digital-first world. per cent by 2025.
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