Inn Quest

SEPTEMBER 5, 2023

Effective hotel inventory management relies on technology solutions like Property Management System s (PMS), Channel Managers, and Revenue Management Systems (RMS) to automate tasks, analyze data and make informed decisions. Meeting and Event Spaces: Many hotels have conference rooms, banquet halls and event spaces.

Management 87

Management Overbooking Revenue Hotels 87

SiteMinder

JUNE 26, 2024

While revenue management is more focused on a hotel’s pricing and availability to maximize revenue, revenue optimization takes a broader approach to include a full range of revenue sources that includes food and beverage, spa services, events, classes, and other ancillary revenues. This ensures rate consistency and prevents overbooking.

Revenue 72

Revenue Revenue Management Upsell Global Distribution System 72

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

NOVEMBER 7, 2024

Read also: Guide on Customer Retention in Hotel Industry Encourage Group Bookings: Offer discounts or packages for weddings, business events, or group travel bookings. For example, you can charge higher rates when demand is high, like during peak seasons or local events, and lower rates when your hotel has empty rooms.

Hotel Sales 52

Hotel Sales Revenue Sales OTA 52

Cloudbeds

FEBRUARY 28, 2024

The information is then populated into the PMS and distributed to the hotel’s booking channels with the help of channel management software. These channels may include the hotel’s website booking engine, online travel agencies (OTAs), the global distribution system (GDS), wholesalers, and metasearch sites.

Revenue Management 98

Revenue Management Revenue Hotels Operations 98

Little Hotelier

OCTOBER 30, 2024

Look for a system that automates key operations like updating room availability, managing bookings, and processing payments. This will save you from the hassle of manual updates and reduce the risk of overbookings or missed payments. Streamlined operations.

OTA 59

OTA Motels Upsell Overbooking 59

eZee Absolute

OCTOBER 24, 2024

It ensures that room availability, pricing, and inventory are updated in real-time across all channels, including online travel agencies (OTAs), global distribution systems (GDS), and direct booking platforms. The scalability of cloud-based distribution solutions is a significant advantage.

Hotels 59

Hotels Revenue Management Overbooking Revenue 59