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How to Really Make Money with a Hotel: Maximizing Hotel Profit

Xotels

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. Segment Your Market: Not all guests are created equal.

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Hotel Revenue Management Strategies

Xotels

This is done by thoroughly understanding your property, its customers, and the market. Making sure you get your fair share of direct bookings allows you to compete with OTAs and avoiding to pay the hefty commissions on those bookings. Article Summary What is Revenue Management?

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article thumbnail

How to Really Make Money with a Hotel: Maximizing Hotel Profit

Xotels

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. Segment Your Market: Not all guests are created equal.

article thumbnail

How to Really Make Money with a Hotel: Maximizing Hotel Profit

Xotels

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. Segment Your Market: Not all guests are created equal.

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10 Smart Hotel Cost Control Ideas to Save Money

Hotel Speak

Cost control challenges can vary from hotel to hotel, depending on the market segment, location, and star classification, but most hotels face similar issues. Marketing By choosing the right marketing tools, such as a robust CRM system, hotels can capture and store guest data from all distribution channels.

Hotels 59
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KML Leadership Summit Tackles Industry Challenges

Hotelier Magazine

Re-Writing the Rules of Recruitment & Retention The first panel of the day, Re-Writing the Rules of Recruitment & Retention , provided an update on the current labour market, explored new recruitment strategies and examined the role of leadership development in company culture. Venu expressed a similar sentiment.

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Top Revenue Management Strategies for Hotels

Xotels

This is done by thoroughly understanding your property, its customers, and the market. Making sure you get your fair share of direct bookings allows you to compete with OTAs and avoiding to pay the hefty commissions on those bookings. Article Summary What is Revenue Management?