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Boost hotel profitability in 2025 by tapping into ancillary revenue streams. For hotel operators seeking to boost profitability, ancillary revenue is a key focus in 2025. Here are four key ways you can generate more ancillary revenue in your hotel.
What is hotel upselling? Hotel upselling is the practice of encouraging guests to purchase additional services or upgrades during their stay, beyond their initial booking. In this blog, you’ll learn all the tips you need to make upselling a success at your business. Table of contents Why is hotel upselling important?
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. DI can also be more proactive and suggest upsells tailored to guest profiles and booking patterns. Why it’s important for hotels?
Let’s be honestrunning a hotel while managing its revenue at the same time is a balancing act. From making sure staff, guests, and smooth operations are all attended to, we can understand why revenue management so frequently gets put on the back burners. What Are Revenue Management Tools? Thats where outsourcing comes in.
Looking ahead, hoteliers can expect increased use cases for artificial intelligence (AI) as part of the shift towards contactless hospitality, including: Facial recognition for ID verification Intelligent chatbots Personalized recommendations (dining, activities, services) Predictive maintenance and housekeeping Real-time resolution (ie.,
The right sales tactics can help increase revenue, boost occupancy rates , and ensure guests have a positive experience. By encouraging guests to book directly through your website, you can keep more of the revenue and build stronger relationships with your guests. Implement Dynamic Pricing for Optimal Revenue What is Dynamic Pricing?
In today’s fast-paced hospitality landscape, staying ahead of the curve is paramount for maximizing revenue potential. As technology continues to evolve, so do the strategies and innovations within revenue management.
Forced modifiers are just one way upselling in hotels can be maximized During a busy time of the year, like the start of the holiday season which we are quickly approaching, hotels are continually looking for strategies to drive non-room revenue. Notice a guest is ordering the steak? Notice a guest booked using a conference code?
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. Request a demo today.
This enables your team to provide more relevant and valuable upsells. How can hoteliers adopt this approach and what benefits can they expect from focusing on revenue per available guest? By moving to a RevPAG (Revenue Per Available Guest) approach, even just across golf and spa, you can grow the revenue per guest by 10%, per visit.
The report highlights that hoteliers view increasing occupancy and improving operational efficiencies as key priorities, with 85% of hoteliers anticipating that personalization could help deliver over 5% in incremental revenue. rise in direct booking conversions over a six-month period, significantly boosting its overall revenue.
Upselling in hotels often gets a bad reputation, but when done thoughtfully, it’s a powerful way to enhance the guest experience while boosting revenue. Upselling should feel like a helpful suggestion rather than a sales tactic. Upselling should feel like a helpful suggestion rather than a sales tactic.
For properties wondering how to increase hotel revenue, the answer lies in data aggregation Driving non-room revenue is one of the key goals for almost all hoteliers and hotel operators. But what if maximizing revenue was easier than you think? Want to learn how to increase hotel revenue at your property by using guest data?
Discover how you can increase your hotel ROI, while you’re maximizing revenue by choosing the right hotel technology Maximizing revenue and increasing ROI — it’s every business owner’s dream. Here are four ways hotel technology can offer a profitable return on investment, while maximizing revenue. Then, request a demo today.
Upselling isnÕt just a strategy - itÕs an art. Whether you manage a boutique hotel, a bustling restaurant, or a unique venue, finding the perfect balance between enhancing guest experiences and increasing revenue is key to long-term success.
With that in mind, it’s an opportune time for hotel operators to reassess their revenue strategies to capitalise on the influx of travellers. Historically, hotel performance has been measured by room-based metrics such as Revenue per Available Room (RevPAR), Average Daily Rate (ADR), and occupancy.
Revenue management is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. These frontline employees are instrumental in shaping the guest experience, impacting occupancy rates, and ultimately driving revenue.
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?
Well, here’s a trick called “ancillary revenue.” To put it in simple words, ancillary revenue or additional revenue is like a bonus income that hotels can earn from things besides just renting rooms. That’s exactly what ancillary revenue is all about. Let’s say, you’re running a hotel.
Moving from merely managing hotel revenue to maximizing profit is a critical transformation that ensures your property's long-term success. Here's a detailed guide on transforming your hotel's revenue management to focus on profit maximization. Train your staff to identify and capitalize on upselling opportunities.
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.
With the help of SiteMinder, you can connect your hotel to all major vendors on the GDS, including Sabre and Amadeus, to generate more visibility, bookings and revenue than ever before. Efficient upselling opportunities A GDS grants your hotel the opportunity to upsell without needing to put much effort in at all.
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?
It’s time to take action to improve the bottom line and remove revenue leakage. While Revenue Per Available Room (RevPAR) is up by 17% in Europe compared to January 2020 , F&B revenue increased just 5%. By using data, hotels can improve revenue with dynamic pricing or tiered pricing for different customer segments.
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.
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.
By Adam and Larry Mogelonsky The core revenue stream for every hotel brand will always be heads in beds. Not just as a reason to visit to feed the rooms-revenue ledger, the sheer broadness and flexibility of the term ‘wellness’ allows nearly any brand to play in the space.
Travel sellers have access to enhanced data sharing and revenue management, while hotels benefit from enhanced customer experiences. Amadeus Value Hotels equips leisure travel sellers with a range of exclusive prepaid net rates and allows sellers to set their selling prices to optimize revenue.
What is ancillary revenue? Ancillary revenue is when you earn income from additional services or products offered at your hotel. By offering these added touches, you’re not just boosting your revenue; you’re creating memorable experiences that make your hotel stand out. Think of it as the cherry on top.
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. Here are just five examples of hotel promotions you can run to increase occupancy and revenue when needed.
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. Dynamic Pricing and Revenue Management AI tools are revolutionizing how hotels set room rates.
Always Offer an Add-On Driving additional revenue while improving guest satisfaction is a win-win. Ask your staff to recommend your best bottle during their next dining interaction. Use this opportunity to personalize their stay while upselling to drive a little additional revenue to your property.
From exquisite rooms, amazing dining options, and fabulous event venues, Chatrium is truly a premium accommodation choice. After 12 years in operation, we recently spoke to Corporate Director for Revenue & Digital Distribution Pawarisa Hirantanes about the group’s journey and its satisfaction with SiteMinder as a technology partner.
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.
They minimize overbookings, streamline the reservation process, and drive revenue. Improve revenue If hotels rely on manual bookings only, it can greatly reduce their ability to maximize revenue and deliver a smooth customer experience. If you're still managing bookings manually, it’s time to make the switch.
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.
Once a booking is made, automated emails kick in, confirming the reservation and even suggesting add-ons like room upgrades or dining options. The more you can funnel guests through your own website, the more you retain full control over the revenue and the guest experience. But it’s not just about the bottom line.
As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. This can entice guests to book at a higher rate while also increasing your overall revenue.
Discount pricing is a revenue management strategy where prices are lowered temporarily or for certain conditions to attract guests and boost occupancy rates. By understanding and employing discount pricing strategically, hotels can maximise revenue, improve guest satisfaction, and enhance their overall brand image.
Five: Upselling Capabilities Upselling is a powerful tool for increasing revenue and enhancing the guest experience. A sophisticated PMS with built-in upselling capabilities can suggest upgrades and additional services to guests during the booking process or their stay.
Were going to get down and dirty with the real-world strategies that we have actually seen working as a revenue management consulting company. A dynamic pricing strategy allows you to react to market fluctuations in real-time , ensuring you’re always maximizing revenue. Consider hiring a revenue management consultant instead.
As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. This can entice guests to book at a higher rate while also increasing your overall revenue.
Hotels that invest in delivering on consumer expectations will see an increase in brand loyalty, which leads to an increase in revenue. By implementing the right tech, hotels can impress guests, streamline operations, and drive non-room revenue.
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