Inn Quest

APRIL 5, 2023

It is a dynamic pricing strategy that allows hotels to offer competitive prices during low-occupancy periods while maximizing profits during high-demand periods. It enables hotels to achieve this goal by analyzing data such as occupancy rates, booking trends, and seasonal patterns to adjust prices and inventory.

Yield Management 88

Yield Management Management Occupancy Revenue 88

Inn Quest

AUGUST 8, 2023

Offering competitive rates during off-peak seasons allows hotels to remain active in the market and attract guests even when other competitors might be struggling to maintain occupancy. During peak seasons, when rooms are in high demand, higher rates can help control the rate of bookings, preventing overbooking scenarios.

Hotels 88

Hotels Occupancy Overbooking Revenue 88

Hotel Business

APRIL 4, 2023

Maestro PMS has formed an integration partnership with web-based sales and event management platform Tripleseat. The technology providers are streamlining event data and pulling group room block information—including room types, rates and allocations—from the Tripleseat sales-and-catering system and pushing it into Maestro PMS.

Forecasting 59

Forecasting Overbooking Events Sales 59

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. hotels should consider a number of local factors, such as the climate, local holidays and events, school terms and target guests. Learn more When is peak travel season for hotels?

Maximum Length of Stay 52

Maximum Length of Stay Minimum Length of Stay Overbooking Occupancy 52

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.

Revenue 72

Revenue Revenue Management Upsell Global Distribution System 72

Hotelogix

NOVEMBER 7, 2024

The right sales tactics can help increase revenue, boost occupancy rates , and ensure guests have a positive experience. A loyalty program can encourage guests to keep coming back, which boosts your occupancy rate. In the competitive world of hospitality, having a strong sales strategy is key to ensuring your hotel's success.

Hotel Sales 52

Hotel Sales Revenue Sales OTA 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

SiteMinder

OCTOBER 10, 2023

Control your OTA listings and earn more revenue Say goodbye to overbookings and hello to maximised revenue with real-time inventory and rate management with SiteMinder’s channel management solution. Moreover, with real-time updates, last-minute bookings are handled seamlessly, making sure you maximise your room occupancy and revenue.

Management 59

Management Overbooking OTA Hotels 59

Little Hotelier

APRIL 28, 2023

Overbooking was a common occurrence. There was always the risk of overbooking. We have a 100% occupancy rate, and we’re fully booked every week, so we used to try and not put all of the motel rooms online, just in case of overbooking. We still had overbookings all the time,” said the motel owner-operators.

Motels 52

Motels Overbooking Hotels OTA 52

SiteMinder

OCTOBER 10, 2023

By analysing past and present data, hotel forecasting enables you to predict future outcomes and gives you the opportunity to correct past mistakes, maximise profit, and be prepared for disruptions or unforeseen events. Occupancy rate The occupancy rate indicates the percentage of rooms occupied over a specific period.

Forecasting 52

Forecasting Revenue Average Daily Rate Occupancy 52

SiteMinder

JUNE 8, 2022

By analysing past and present data, forecasting enables you to predict future outcomes and gives you the opportunity to correct past mistakes, maximise profit, and be prepared for disruptions or unforeseen events. The outcome of your forecasting should always be the ability to react to market changes, optimise occupancy, and maximise revenue.

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

Hotelogix

OCTOBER 11, 2024

The consequences can greatly impact the revenue streams, occupancy rates, and guest satisfaction. Seasonal Influences: Holidays and special events can impact travel plans. Skewed Occupancy Data Accurate occupancy data is important for hotels to make informed decisions. Read Also: How to Avoid Hotel Overbooking Issues?

Cancellation 52

Cancellation Overbooking Occupancy Hotels 52

Inn Quest

SEPTEMBER 12, 2023

Effective revenue management is crucial to optimize room rates, occupancy levels, and overall revenue. Failure to do this can result in lost revenue opportunities or overbooking during peak periods. Use revenue management systems and data analytics to optimize room rates, occupancy and revenue.

Operations 88

Operations Management Revenue Revenue Management 88

SiteMinder

DECEMBER 7, 2023

This strategy is crucial for enhancing both occupancy rates and the average daily rate (ADR), directly influencing the hotel’s financial performance. Higher occupancy rates : Pricing rooms correctly plays a pivotal role in driving occupancy. Table of contents Why does hotel rate management matter?

Management 59

Management Average Daily Rate Occupancy Revenue 59

Little Hotelier

JANUARY 11, 2024

Meanwhile, owners can sell on their direct website without risking overbookings. This kind of pricing strategy helps the property maintain a balanced occupancy throughout the year. In the event of an emergency requiring urgent assistance, they can be contacted easily and quickly.” “I

Services 59

Services Accommodation Overbooking OTA 59

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. Maximize your occupancy and avoid overbookings by centralizing your inventory and pricing.

Management 52

Management Global Distribution System Overbooking OTA 52

Little Hotelier

OCTOBER 30, 2024

This will save you from the hassle of manual updates and reduce the risk of overbookings or missed payments. This tool helps automatically adjust room rates based on demand, competition, and occupancy. Look for a system that automates key operations like updating room availability, managing bookings, and processing payments.

OTA 59

OTA Motels Upsell Overbooking 59

SiteMinder

NOVEMBER 22, 2023

Common issues include inconsistent customer service, challenges in managing online reputation, and fluctuating occupancy rates. Here are some of the common problems faced by hotels: Low occupancy rate A low occupancy rate is a significant challenge for hotels, reflecting underutilisation of resources and potential revenue loss.

Overbooking 52

Overbooking Hotels Revenue Occupancy 52

SiteMinder

OCTOBER 5, 2023

You can quickly gauge your booking status, helping you keep track of occupancy and upcoming guest arrivals. This section lets you adjust room rates, offering flexibility in response to changing demand or special events. Regularly updating the availability calendar is essential to reflect current room statuses and prevent overbookings.

Average Daily Rate 59

Average Daily Rate Hotels Management OTA 59

Xotels

APRIL 3, 2024

For analysing market situations, the demand calendar includes key indicators such as RevPAR (Revenue Per Available Room) and demand levels from the previous year, along with factors like groups or events, bank holidays, school holidays, and exceptional demand indicators for the current year.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

SiteMinder

AUGUST 1, 2024

Here’s a comprehensive guide on how to optimise your listing effectively after logging into the Trip.com extranet: Update room availability: Use a channel manager to sync room availability across all platforms in real-time, preventing overbooking and optimising inventory. Use 360-degree virtual tours for an immersive experience.

Revenue 52

Revenue Yield Management Overbooking Management 52

eZee Absolute

OCTOBER 24, 2024

It’s a critical aspect of a hotel’s operations, as the effectiveness of this distribution directly impacts visibility, occupancy rates, and overall revenue. This real-time synchronization reduces the risk of overbookings and discrepancies, ensuring a seamless experience for both hotel and guest.

Hotels 59

Hotels Revenue Management Overbooking Revenue 59

Cloudbeds

APRIL 23, 2024

From conferences to weddings and production crews, securing group business is a surefire way for hotels to fill occupancy months in advance. In the hospitality industry, RFPs are usually sent to hotels by event planners, corporate travel managers, tournament organizers, travel management companies, or production companies.

Business 52

Business Events Hotels Sales 52

Cloudbeds

APRIL 30, 2024

With dynamic pricing, room rates are not fixed but are adjusted based on market demand, competition, time of booking, customer behavior, occupancy, and other factors that can influence booking patterns. Prices change dynamically (hence the name) using real-time data to maximize your revenue and occupancy rates. Maximizing occupancy.

Revenue 52

Revenue Revenue Management Occupancy Hotels 52

Cloudbeds

FEBRUARY 28, 2024

This will help you increase occupancy, maintain rate parity, and prevent pricing errors, overbookings, and lost sales. Based in Germany, Protel is a legacy PMS provider that also offers a website booking engine, mobile app, and events software. Automate your credit card payment processing.

Revenue Management 98

Revenue Management Hotels Revenue Operations 98

Cloudbeds

APRIL 8, 2024

Many hoteliers question if it’s worthwhile investing in a direct booking strategy or if they can solely rely on online travel agencies (OTAs) like Airbnb, Booking.com, or Trip.com to fill occupancy. Consider offering weeknight rates, promo codes for special events, or loyalty discounts for repeat customers.

OTA 98

OTA Upsell Average Length of Stay Revenue 98

StayNTouch

JUNE 1, 2022

At a glance, a user can see a series of tiles with the number of rooms, current occupancy, the previous and next day’s occupancy, and BAR for each hotel in their chain or group. For larger chains, the dashboard offers advanced search filters, so hoteliers can easily keep track of their relevant properties at any given moment.

Operations 52

Operations Hotels Scale Occupancy 52

Clock Software Hospitality

NOVEMBER 3, 2020

Manage Room Inventory Your hotel’s occupancy is the main metric by which you judge how well your business is doing at the moment. 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

Cloudbeds

JULY 15, 2023

And even then, manually-managed distribution is risky: any delays in updating rates and availability on a channel’s extranet could mean selling a room that isn’t available or selling at a lower rate, which can lead to overbooking and sub-optimal yield management. In the case of one-way sync, reservations or cancellations will not be imported.

Management 76

Management OTA Cancellation Overbooking 76

Hotelogix

SEPTEMBER 12, 2024

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., Rate Plan Management : Dynamically adjusts room rates based on occupancy and competition.

Management 52

Management Revenue Management Hotels Operations 52

Little Hotelier

MARCH 10, 2024

Features Streamlined booking management : Little Hotelier’s intuitive system simplifies booking and reservation management for small hotels, ensuring easy tracking of availability and confirmations, thus minimising overbooking and enhancing guest check-in experiences.

Hotel Sales 52

Hotel Sales Sales Revenue Management Revenue 52

SiteMinder

AUGUST 13, 2024

Regularly review and adjust your rates based on seasonality, local events, and occupancy rates. It also helps manage your rates, availability, and bookings efficiently, reducing the chances of overbooking or discrepancies. Update these images regularly to keep your listing fresh and appealing.

Business 52

Business OTA Management Overbooking 52

Little Hotelier

JUNE 30, 2023

This can help to prevent overbooking and ensure that rooms are available for new bookings. This strategy can help secure revenue, especially during peak seasons or special events, but it can also scare more cautious guests away. Reduces Disputes Understanding the refund policy can also help to reduce disputes with guests.

Cancellation 52

Cancellation Revenue Revenue Management Management 52

eZee Absolute

SEPTEMBER 26, 2024

Plus, it messes with the hotel’s overall occupancy rate, which is like the hotel’s report card. For example, if a hotel notices a spike in no-shows on weekends during peak season, they can adjust their staffing or overbooking strategy. But it’s not just annoying; it hits hotels where it hurts the most– the wallet.

Cancellation 52

Cancellation Hotels Revenue OTA 52

Hotelogix

OCTOBER 18, 2023

This prevents overbookings, eliminates misunderstandings, and ensures that guests receive precise information when making reservations. This leads to better utilization of room inventory and maximizes occupancy rates. Rate Management: Adjusts room rates based on demand, seasons, and events, optimizing revenue generation.

Business 40

Business Global Distribution System Cancellation Hotels 40

AskSuite

JULY 20, 2023

By implementing a clever hotel booking system , you can manage availability, set dynamic pricing, and reduce the chance of overbooking. Additionally, technology can offer valuable insights into guest behavior, enabling you to tailor offers and maximize occupancy rates. This is a tool to optimize rates and hotel inventory accordingly.

Management 52

Management Business Marketing Strategy Upsell 52

SiteMinder

AUGUST 29, 2023

Think about introducing occupancy sensitive cooling and heating systems that adapt to when people are present in the room. Host events and functions Similar to the last point, if you have the space to host special events you should do so.

Revenue 52

Revenue Hotels OTA Operations 52