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Themed dining events, branded F&B products or package deals can encourage guests to dine in-house. Diversify Food & Beverage (F&B) Offerings F&B services are a proven avenue for increasing hotel revenue. According to a report by STR, hotels that offer experience-based services can see a 20-30% increase in guest spending.
The real driver of profit is the number of delegates and attendees who spend on event space, food and beverage, guest rooms, and ancillary services. Growing revenue from meetings and events requires essential collaboration between Marketing, Sales, and Revenue Management : Marketing : Targets and attracts the right audiences and event types.
In the competitive world of hotel sales, finding ways to increase revenue is crucial which is where hotel upselling comes in! While attracting new clients is important, did you know that according to Forbes, the probability of selling to an existing customer is 60&70%, compared to just 5&20% for new prospects?
An effective strategy that can help is to upsell additional services or products relevant to customers. Therefore, upselling in hotels is not only influential but cost-efficient as well. What is Upselling? Upselling is a sales strategy that offers consumers additional services or add-ons to increase revenue.
For example, Cloudbeds Intelligence analyzes billions of future-looking data points, including competitor rates, events, holidays, and search information, combined with a property’s own data to understand how every combination impacts profit. DI can also be more proactive and suggest upsells tailored to guest profiles and booking patterns.
What does it mean to be a part of the events industry in 2019? For venues and planners, that means looking into the crystal ball to get ahead of event trends and expectations. Here, we cover the top 19 trends which promise to shake up event planning and hospitality in 2019 and beyond. Well for starters, don’t blink.
AUSTIN, Texas—Oracle announced that Marriott International has selected Oracle Hospitality OPERA Cloud Property Management System (PMS) and Sales and Event Management as a hospitality cloud platform for luxury, premium, select-service, and midscale properties.
Additionally, hotels can schedule campaigns at optimal touchpoints during a guests stay, including breakfast promotions, happy hour reminders, or exclusive upselling opportunities. During the Stay Timely updates on on-site events, loyalty programme offers, or promotional campaigns to boost in-stay revenue.
Charleston, SC – (October 10, 2024) – SalesAndCatering.com and Cloudbeds have announced a two-way integration that will empower hotels, resorts, and conference centers to optimize hotel group sales and event management. This two-way integration optimizes group sales and event management.
In the fast-paced world of event planning, seizing the attention of your attendees requires more than just an ordinary venue—it demands an experience that transcends the mundane. Enter: stadium events, where the grandeur of these iconic venues becomes the canvas for unforgettable gatherings. What defines a stadium event?
Include event-specific information, branded imagery and schedules right at their fingertips. Personalized displays can showcase event names, schedules or welcome messages, making attendees feel celebrated wherever they go. Here are five ways that your technology can help you delight guests and drive more group bookings, all at once. #1:
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.
Marriott International has selected Oracle Hospitality OPERA Cloud Property Management System (PMS) and Sales and Event Management as a hospitality cloud platform for luxury, premium, select-service and midscale properties.
Another hotel offering in-house events saw 20% of bookers add an event Add-on as part of their stay. Another hotel offering in-house events saw 20% of bookers add an event Add-on as part of their stay. The post Upsell With Personalised Add-ons appeared first on Bookassist The Direct Booking Expert.
Boosted revenues On top of the revenue boost that can be driven by an enhanced guest experience, a unified inbox can also drive direct revenue by allowing you to configure and send upsell offers through WhatsApp templates. You can also boost revenue by crafting compelling upsell messages to send out at key moments.
Whether it’s mitigating cancellations with predictive marketing suggestions or personalizing guest experience with tailored upsell recommendations, our supercharged platform will help hoteliers take the best actions to meet their goals. This level of decision intelligence simply hasn’t been available until now.”
New partnership streamlines group bookings, event management, and catering to boost hotel efficiency and revenue Charleston, SC –SalesAndCatering.com and Cloudbeds have announced a two-way integration that will empower hotels, resorts, and conference centers to optimize hotel group sales and event management.
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.
Whether you have one or a dozen weddings on your schedule this year, here are some wedding planning tips all professional event organizers and wedding planners can use to make the most out of their clients’ special days! It takes some time but this is one wedding planning tip that event planners can use at every single wedding they do.
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!
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.
Network with industry leaders, gain valuable insights from expert speakers, and discover innovative new suppliers at this unmissable event. Wed Pro by Wedding Dates Stand 1734 WedPro by WeddingDates is a cutting-edge lead and sales pipeline management software solution designed specifically for hotels and event venues.
Often, they are built around particular themes, such as the season, a local event, or a holiday (e.g. 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. What are hotel promotions?
Hotels can leverage CRM data to drive repeat bookings, upsell experiences, and build stronger guest relationships. Demand Forecasting & Analytics Platforms Demand forecasting is not simply a matter of historical data it’s a case of identifying patterns within seasonality, events, and booking trends.
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. 3) Pre-arrival upselling can beef up your overbooking strategy and make it more profitable.
However, recent world events and their aftermath have led to a rapid influx of technological advancements in the industry. Kiosks also offer greater ordering accuracy and provide great upselling opportunities with intuitive recommendations. Restaurants aren’t always at the forefront of implementing new technology.
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.
Upselling amenities and services If a traveler enquires about family-friendly room options, the AI can combine visual and contextual data (e.g., Improving event planning Multimodal AI can review images or videos of layouts from past events alongside guest feedback to identify what worked best.
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 expectation relies on understanding your hotel’s occupancy data, revenue, room rate and average spend per room for the last couple of months and in the same period the previous year, as well as looks at demand and events. You’ve captured the client; upselling helps grow the revenue from them.
Promote and upsell activities easily with Little Hotelier Little Hotelier’s direct booking engine lets you sidestep OTA commission fees while increasing the value of every reservation. By upselling guests with paid activities as part of your custom booking process. Take a themed event or party as an example.
Golf tournaments are great for most ages, allow participants to spend time outdoors getting to know one another, often raise money, and so much more, making them one of the most fun sports-related events to plan. Not sure how to organize a golf tournament for a charity, fundraising event, or social outing? Think big picture.
The four-day event, to be held April 15 to 18, will enable attendees to exchange ideas, build alliances and leverage innovative tools and actionable business strategies to capitalize on their Maestro PMS investment.
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.
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.
Automation can speed up the personalization process by enabling automated triggers and highlighting user behavior or specific events in your inbox. VR headsets can also help desk agents upsell rooms when guests do arrive. Customer Identity Resolution : Folks who stay with you want to feel “seen.”
This includes offering tailored packages, suggesting room upgrades, promoting in-house dining experiences, and even curating special entertainment events. For instance, if a hotel expects high occupancy due to an upcoming event in the city, they can ensure adequate staffing and inventory to cater to the influx of guests.
They didn’t know who they were competing against nor did they have a list of events that could drive demand and ultimately increase profit. Speak with other departments, including the front office, because they manage the upselling and cross-selling strategies that can give you two to three percent of your RevPAR.
Whether a guest is traveling to your property for an on-site event or just looking for some relaxation time with their furry friend, opportunities for hotel staff to create a memorable experience and improve guest satisfaction through personalization abound. Have available space on your property that you can convert to a meeting room?
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. Ancillary services such as restaurants, spa treatments, meetings and event spaces can generate more profit for your hotel.
With the right booking and distribution technology, you can easily upsell these amenities. It is about time hotels look at their core services and amenities as chargeable opportunities. Better rooms, spas, F&B etc. can all become revenue earners.
It is also an effective way to keep your past guests engaged; nurture relationships with guests and prospects; convert inquiries into bookings; communicate to current guests any updates pertaining to their stay at your hotel; and upsell or cross-sell rooms to future guests. What are the various types of hotel email marketing?
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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