Travelboom Marketing

MAY 24, 2024

Hotel revenue management strategies make the most of hospitality budgets by connecting the right guests with the best offer at the optimal time. Read on for a list of proven hotel revenue management strategies that work when you need to turn a profit.

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eZee Absolute

MAY 7, 2024

But hotel revenue management can be your secret wand. Revenue management is about more than just the right pricing. It’s about knowing what guests need, predicting bookings, and adjusting rates to make more revenue. In the ever-competitive world of hospitality, staying ahead can be a real challenge.

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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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Xotels

APRIL 3, 2024

XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.

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Hotel Speak

OCTOBER 24, 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 105

eZee Absolute

JANUARY 27, 2025

Use AI to track their past bookings and suggest tailored offers, such as room upgrades or access to Songkran-themed events based on their history. For example, AI could recognize a returning guest and offer them a Songkran Special Experience package that includes exclusive access to local events!

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Upsell Hotels OTA Revenue Management 52

SiteMinder

JUNE 26, 2024

Revenue optimization vs revenue management In terms of definition and practice, there is a difference between revenue optimization and revenue management. Table of contents Why is hotel revenue optimization important? Included in this will be key metrics, forecasting models, and trending insights.

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STAAH

MAY 16, 2023

Hotel room pricing is a critical element of revenue management for hotels. Hotel managers and revenue managers use data analysis and revenue management tools to determine the optimal price for each room based on various factors such as occupancy rates, booking trends, and competitor rates.

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SiteMinder

JUNE 12, 2024

What is Yield Management? 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.

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STAAH

FEBRUARY 6, 2024

The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. Don’t forget to monitor external market sentiments such as cancellation of an event or reduction in connectivity to your destination – these could all result in cancellations.

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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.

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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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Amadeus Hospitality

JUNE 9, 2023

The final week of June, 2023 will be an exciting one in the hospitality industry as two important events occur simultaneously: the Hospitality Industry Technology Exposition and Conference, or HITEC , and AHLA’s brand new, industry-wide hospitality event, The Hospitality Show. Schedule a meeting with us at HITEC here.

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STAAH

JANUARY 16, 2024

There is no set formula to increase a hotel’s revenue, it can be achieved by creating a good promotion plan, tapping into sources of ancillary revenue , upselling and other marketing strategies. Optimise ancillary revenue. Dynamic pricing is a modern hotelier’s most effective strategy for revenue management.

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STAAH

DECEMBER 12, 2023

During peak holiday periods, consider adopting a revenue management system that factors in various parameters such as historical booking data, competitor pricing, local events, and even weather forecasts. This not only adds value for guests but also allows hotels to upsell services and capture diverse customer preferences.

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SiteMinder

MARCH 25, 2025

For example, during peak travel periods, an efficient reservations manager using a modern property management system (PMS) can swiftly allocate room blocks for group bookings or special events, maximising occupancy without overbooking. Managing reservations doesnt have to be complicated.

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Hotelogix

AUGUST 6, 2024

Here's a detailed guide on transforming your hotel's revenue management to focus on profit maximization. Maximizing Hotel Profit As a hotelier, you must adopt a holistic strategy that considers all revenue streams and cost factors to maximize profit. Read Also: What is Dynamic Pricing in Hotels?

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Revenue Management Upsell Target Marketing 52

Cloudbeds

DECEMBER 2, 2024

Understanding future demand trends, their causes, and the guest segments driving them can help hotel revenue managers adjust room rates to boost occupancy and sales. Managers can use it to budget, allocate resources, streamline inventory management, and improve the guest experience. This forward-looking data (e.g.,

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Forecasting Revenue Management Occupancy Revenue 75

Hotel Business

APRIL 5, 2024

The figures from SiteMinder also reveal the great anticipation which has built up around the total solar eclipse event, with the lead time on hotel bookings in Buffalo increasing by 482.16% year-on-year, to more than 130 days. Dallas has witnessed a similar year-on-year increase of 342.54%, from 35 days in 2023 to 154 days this year.

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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.

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Cloudbeds

APRIL 9, 2024

Moreover, the flexibility to enhance property performance with specialized add-ons allows for tailored optimization in key areas, including operations, revenue management, guest experience, and digital marketing. Upselling tools. Groups and events. Smart door locks. Room controls. Accounting and finance. Point-of-sale.

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Cloudbeds

JANUARY 22, 2025

Calculating EBITDAR: Step-by-step Lets take the example of a hotel that last year generated total revenue (from rooms, F&B, events, and other ancillary sources) of $4,500,000. 7 tips to improve EBITDAR As a profit metric, EBITDAR can be improved in two ways: increasing revenue and reducing costs.

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Little Hotelier

OCTOBER 17, 2023

Learn more Strategies to increase hotel revenue There are a lot of strategies that can be used to increase hotel revenue – but it’s important to be focused and committed to the plans you make. Adding this extra value to guests not only brings in revenue but also provides a better traveller experience.

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Catala Consulting

JANUARY 21, 2025

Dynamic Pricing and Revenue Management AI tools are revolutionizing how hotels set room rates. AI-powered revenue management systems, like Duetto and Flyr Hospitality , analyze historical data, market trends, and competitor pricing to dynamically adjust rates in real-time.

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Xotels

JULY 26, 2024

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. What is Yield Management, Really? What events drive demand in your area?

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Yield Management Upsell Hotels Ancillary Revenue 59

SiteMinder

OCTOBER 10, 2023

Discount pricing is a revenue management strategy where prices are lowered temporarily or for certain conditions to attract guests and boost occupancy rates. Offer lower rates for guests booking multiple rooms, ideal for group travellers or event attendees. What is discount pricing?

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Little Hotelier

OCTOBER 30, 2024

Revenue management integration For properties working with global distribution systems (GDS), a property management system and GDS integration can help maximise exposure. Choose a PMS that integrates with revenue management software and set it to update rates in real-time.

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OTA Motels Upsell Overbooking 59

Cloudbeds

MARCH 3, 2023

A POS system lets you quickly process and record transactions across your property to improve the guest experience, streamline operations , and conduct better revenue management. Wherever guests are, your team can maximize incremental revenue opportunities. Upselling opportunities. What is a POS system for hotels?

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Sales Hotels Revenue Services 98

Xotels

JULY 26, 2024

Were going to get down and dirty with the real-world strategies that we have actually seen working as a revenue management consulting company. What is Yield Management, Really? In a nutshell, yield management means adjusting your room rates in real-time based on demand , seasonality, events, and even the day of the week.

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Cloudbeds

APRIL 8, 2024

It can be customized to fit your brand, cater to international audiences with multi-language and currency options, and offer add-ons or upsells to help you increase revenue. Upsells and add-ons. Consider offering weeknight rates, promo codes for special events, or loyalty discounts for repeat customers.

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Xotels

JULY 26, 2024

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. What is Yield Management, Really? What events drive demand in your area?

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SiteMinder

JULY 25, 2022

It’s a key metric for you to measure and track if you want to build an effective hotel revenue management strategy. By looking at ADR, you can easily start to strategise ways to boost your bookings and revenue. Some KPIs that will tell you more about how you can optimise ADR include: Events in your area.

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SiteMinder

JULY 29, 2024

Additionally, the healthier your profit margin the better position you’ll be in if you ever want to sell your business or if unexpected events occur, such as the COVID-19 pandemic. Optimising room revenue requires a dynamic pricing strategy which takes into account real-time data, seasonality, competitors, guest trends, and more.

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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

Hotel Business

SEPTEMBER 11, 2024

Across revenue management, sales, marketing and loyalty, there’s a lot of excitement about this new opportunity,” he said. In terms of pricing, this room type sets a new high for ADR and contributes positively to overall yield management,” Rivett said. My Place’s foundational three-story, 64-unit box is also still available.

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Cloudbeds

OCTOBER 17, 2024

Dedicated groups & events page A simple way to secure more group business is to add a groups & events page to your website, where you can outline your USP and explain why you’re a great fit for certain groups. and push those suggestions to your PMS, channel manager, and booking engine to be updated in real time.

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Cloudbeds

DECEMBER 4, 2024

Revenue optimization Hotel spa software optimizes your spa’s revenue through upselling tactics, special promotions, and targeting of guests and non-guests alike. You can set rules and dependencies for your property to optimize revenue. It also identifies valuable upselling and add-on opportunities.

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