Hotel Business

SEPTEMBER 11, 2024

In terms of pricing, this room type sets a new high for ADR and contributes positively to overall yield management,” Rivett said. This room type is approximately 470 sq. featuring a king bed and a ducted VTAC unit for balanced climate control throughout the space. “In The post HB on the Scene: My Place introduces My Place 3.0

Yield Management 59

Yield Management Upsell Revenue Management Marketing 59

SiteMinder

APRIL 25, 2024

The exact genesis of yield management (now revenue management) in the hospitality sector is hotly debated,” says Stuart-Hill. These events are important to the evolutionary history of revenue management, as revenue managers were tasked with helping find additional revenue sources for their properties,” explains Stuart-Hill.

Revenue Management 111

Revenue Management Revenue Management Hotels 111

Horizon Hospitality

JULY 10, 2024

Dynamic pricing, or yield management, involves adjusting room rates in real-time based on supply and demand, with the ultimate goal being to increase the Revenue Per Available Room ( RevPAR ). Quick Tips Monitor Market Demand: Use data analytics tools to track booking trends, local events, and seasonal fluctuations.

Occupancy 52

Occupancy Revenue Yield Management Forecasting 52

SiteMinder

AUGUST 1, 2024

We were able to increase RevPAR by more than 30% by executing yield management on the platform swiftly and accurately.” Adjust rates regularly: Use a revenue management system (RMS) to adjust rates dynamically based on local events, competitor pricing, and market trends to stay competitive.

Revenue 52

Revenue Yield Management Overbooking Management 52

Xotels

MARCH 3, 2025

Market intelligence software provides real-time information on: Occupancy trends ADR benchmarks Shifts in market demand With current real-time data, you can adjust your revenue management strategies accordingly and stay ahead of your rivals. Channel Management System Managing multiple OTAs, your website, and other channels manually?

Revenue Management 40

Revenue Management Revenue Management Ancillary Revenue 40

Catala Consulting

JULY 30, 2023

Resort revenue management has become an indispensable tool for businesses, fostering strategies that maximize yield and build strong customer relationships. The Cornerstones of Resort Revenue Management Resort revenue management , interchangeably used with yield management, revolves around a strategic pricing approach.

Revenue Management 52

Revenue Management Revenue Resorts Management 52

Xotels

APRIL 3, 2024

Start increasing your revenue today by reading our all-in-one ultimate guide on what is revenue management from our expert perspective as a hotel revenue management consulting company. Article Summary: What is the Definition of Revenue Management? Why is Revenue Management Important to Hotels & Other Industries?

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Cloudbeds

FEBRUARY 28, 2024

Based in Germany, Protel is a legacy PMS provider that also offers a website booking engine, mobile app, and events software. Central reservation systems and booking engine Cendyn.

Revenue Management 98

Revenue Management Hotels Revenue Operations 98

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

OCTOBER 10, 2023

Learn more Key factors to consider when implementing the cost-based pricing method Implementing cost-based pricing requires a thorough understanding of various factors that could impact the effectiveness of this pricing strategy, as well as a mastery of yield management.

Target Marketing 59

Target Marketing Revenue Yield Management Marketing 59

SiteMinder

JULY 10, 2024

With four productions to subscribe to, Skift has every angle covered when it comes to podcasts, with daily industry briefings, traveller deep-dives, airline news, and event manager tips. We were able to increase RevPAR by more than 30% by executing yield management on the platform swiftly and accurately.”

Hospitality 52

Hospitality Hotels Digital Marketing Revenue 52

SiteMinder

NOVEMBER 14, 2023

Table of contents The importance of a Hostelworld inbox login Effective communication is crucial for successful hotels, whether it’s confirming booking details, providing guests with up-to-the-minute updates on hotel events and services, or following up with guests after their stay to encourage rebookings and forging stronger customer loyalty.

Revenue 52

Revenue Management Yield Management Overbooking 52

SiteMinder

OCTOBER 9, 2022

The art is to maximise revenue with rate premiums when there is an abundance of demand and also set competitive and sustainable rates in the low season when market demand is more fiercely contested: in short, yield management. Revenue managers continuously solve an ever-changing puzzle, where occupancy and ADR are two key pieces.

Revenue Management 59

Revenue Management Revenue Management Occupancy 59

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. What’s allotment ? What’s a closeout? What’s iCal?

Management 76

Management OTA Cancellation Overbooking 76

Inn Quest

JUNE 8, 2023

To learn about the benefits of yield management in the hotel industry, read this. By using AI in the hospitality industry, managers can leverage advanced statistical techniques and machine learning to analyze data, external factors (e.g., weather, events) and market trends to predict future booking demands.

Hospitality 54

Hospitality Services Upsell Operations 54

Xotels

SEPTEMBER 13, 2024

Here are some important takeaways on this topic: Contextual Factors: Revenue management is influenced by numerous factors, including market dynamics, hotel-specific characteristics, and seasonal fluctuations. And, what happens when an unforeseen event happens (think Covid-19)? Every area is a revenue opportunity.

Revenue Management 40

Revenue Management Revenue Management Ancillary Revenue 40

Xotels

SEPTEMBER 13, 2024

Here are some important takeaways on this topic: Contextual Factors: Revenue management is influenced by numerous factors, including market dynamics, hotel-specific characteristics, and seasonal fluctuations. And, what happens when an unforeseen event happens (think Covid-19)? Every area is a revenue opportunity.

Revenue Management 40

Revenue Management Revenue Management Ancillary Revenue 40

Xotels

AUGUST 9, 2021

This made Google Hotel Ads particularly appealing for revenue managers in recent years, excited by all the bidding opportunities. On top of that, Google is constantly beta-testing new features for GHA. In July, 2021, it started supporting image extensions in the ads. .

Market Share 52

Market Share Hotels OTA Cancellation 52

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 40

Revenue Management Revenue Management Ancillary Revenue 40

SiteMinder

JANUARY 10, 2024

Storytelling your success Beyond training and modelling, nothing comes closer to reality than the story of a real event. We were able to increase RevPAR by more than 30% by executing yield management on the platform swiftly and accurately.” Atchara Nakpoom, Revenue and Reservations Manager Kirimaya Read more

Management 59

Management Hotels Services Business 59

Hotelogix

JANUARY 29, 2025

Here’s the scoop: Dynamic pricing strategies : AI-powered systems adjust rates in real-time based on demand, events, and competitor pricing, maximizing revenue per available room (RevPAR). Yield management integration : Tweak rates based on current demand. Making a fast track straight to your hotel!

Management 58

Management Hospitality Hotels Services 58