Demand Calendar

JULY 22, 2024

Imagine your hotel facing a forecast predicting a significant dip in bookings for the coming quarter. Do you rally your marketing and sales teams to launch innovative campaigns aiming to change the forecasted future? Or do you streamline your operations, optimizing every cost to ensure profitability despite the lower revenue?

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Demand Calendar

SEPTEMBER 30, 2024

In this blog post, we aim to highlight the evolving role of revenue managers in an industry increasingly influenced by AI and consider how best to integrate technological advancements with human skills to drive success.

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Demand Calendar

FEBRUARY 14, 2024

It's time for the hospitality industry to explore a more dynamic and responsive way of financial planning – prioritizing forecasting as the foundation for a truly effective budget. This shift will enhance adaptability, increase profitability, and empower data-driven decision-making – crucial advantages in today's market.

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Demand Calendar

APRIL 13, 2023

Many hoteliers think forecasts are unnecessary because the dynamics constantly change, so there will never be an accurate forecast. The main reason for forecasting is not competition in accuracy; it is to use the forecasts for planning to achieve a healthy profit.

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SiteMinder

APRIL 25, 2024

With every passing year, revenue management is playing a more central role at hotels as they navigate a landscape now locked in a permanent state of change. The exact genesis of yield management (now revenue management) in the hospitality sector is hotly debated,” says Stuart-Hill. “The

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Hotel Management

FEBRUARY 13, 2024

Both Melbourne and Sydney properties are forecasted to have 100% occupancy during concert dates and transient revenue is up to 30% stronger in comparison to other popular concerts,” Hutton told HM exclusively, noting that many hotel guests are asking if they are able to decorate their rooms with Taylor merchandise.

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Hotel Speak

JULY 19, 2024

Whether you accept transient or group business to your hotel is more than just a revenue management question. It’s also a risk management question. And what is the philosophy of the hotel, the ownership, the general manager, and other stakeholders? They don’t pull folio data into their revenue calculations.

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Little Hotelier

MARCH 25, 2024

What is hotel forecasting? Hotel forecasting, also known as hotel demand forecasting, is a strategy that sees a hotel analyse historical data and trends to make predictions about future demand. Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy.

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Demand Calendar

JUNE 28, 2023

Hotel revenue managers talk about "need periods, " meaning the hotel needs to fill the hotel with more guests. The worst part is if hotels at the destination start a price war to attract more guests, the results will be lower revenue for all, and no additional guests will travel to the destination because the hotel rooms are cheap.

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SiteMinder

MARCH 17, 2025

The title can varysome properties use terms like hotel manager, lodging manager, or director of hospitalitybut the core responsibilities remain the same. The hotel director sets expectations for service, supports team performance, and ensures the property is meeting its revenue and occupancy targets.

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Demand Calendar

FEBRUARY 5, 2025

This post explores The Origins: How the term "bleisure" emerged and was first identified by trend forecasters like Future Laboratory. Corporate Policies: The rise of "work from anywhere" strategies and how companies manage cost-sharing for blended trips.

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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. Think of it as the art behind the science of room supply and demand.

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Demand Calendar

JULY 17, 2024

These forecasts suggest a growing market with plenty of guests to fill hotel rooms. We will explore how understanding the market and guest preferences can transform guest experiences, how a revenue-centric approach can drive financial performance, and how effective people management can reduce staff turnover and enhance service quality.

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Hotel Operations

SEPTEMBER 30, 2024

I am working with an independent family-owned hotel that does $15 million in revenue each year,” Lund shared. Creating a budget involves having each department leader work out their resources, payroll, expenses, and revenues. This way we don’t spend all additional revenue and expenses and not make any more profit.

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SiteMinder

MARCH 25, 2025

A skilled reservations manager can directly influence your revenue by ensuring your rooms are always accurately represented across booking channels, minimising missed opportunities due to errors or delays. What does a hotel reservations manager do? Table of contents Why are hotel reservation manager jobs important?

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Demand Calendar

SEPTEMBER 10, 2024

While budgets may have been essential for management and ownership in the past, there are far more effective tools available today that provide flexibility, adaptability, and better financial outcomes.

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SiteMinder

AUGUST 1, 2024

SiteMinder’s platform empowers you to execute your hotel business plan seamlessly and drive revenue growth. Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain. Revenue and pricing Now we’re onto the good bit!

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Hotel Business

JUNE 8, 2023

In prior leadership roles, Gatzemeyer developed comprehensive analytics platforms by utilizing forecasting, machine learning and data mining techniques to enhance owner profitability. HVMG’s business intelligence strategic initiative and the culture of excellence they’ve fostered, are a perfect fit for me,” Gatzemeyer said.

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Social Tables

JANUARY 14, 2022

Meet with hoteliers, general managers, F&B directors, owners, operators, procurement managers, and other hospitality professionals to discuss industry developments, demonstrate services, shop for new products, and even showcase your own. . The Hotel Show. May 24-26 | Dubai World Trade Centre | Dubai.

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MBA Hotels

OCTOBER 15, 2019

Average daily rate is the main driver of revenue per available room (RevPAR) growth. STR forecasts RevPAR growth to be about 1.1% STR RevPAR Forecast ] Slow and steady revenue growth is keeping the industry optimistic, but it’s the profitability which is worrying some hotel investors and management companies.

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Hotelogix

FEBRUARY 28, 2025

This article will show you how ChatGPT can help hotels keep guests engaged , improve their experience, and increase revenue , all while reducing staff workload. From decision-makers of hotels, to general managers and front office teams, they can use ChatGPT effectively if they know how to ask the right questions.

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Cloudbeds

NOVEMBER 13, 2024

From conversations with general managers to PR professionals and restauranteurs – we’ve compiled a list of the top hospitality podcasts today to help hoteliers boost their industry knowledge and take away practical tips for success. No matter what role or interest you have in hospitality, there’s a podcast for you. Who’s it for?

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Hotelogix

SEPTEMBER 12, 2024

General Management: General Managers take care of the overall administration of a hotel. 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.,

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SiteMinder

OCTOBER 11, 2022

From hiring all staff to scheduling maintenance to creating new revenue management strategies , the hotel management team is extremely busy. Again, the specific job titles and the amount of personnel within the management team will vary from hotel to hotel. Operations manager. Night duty manager. IT manager.

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Boutique Hotel News

DECEMBER 20, 2022

Marc Saunders, director of marketing at Splendid Hospitality, also believes there is opportunity to drive revenue by activating hotel spaces with retail partnerships. A recent Knight Frank report supports this idea, revealing that ancillary revenues have increased in 2022 with the contribution to total revenue rising by 1.5

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Cloudbeds

JUNE 5, 2024

There used to be a time when hotel revenue managers simply had to look at predicted demand and keep an eye on competitors’ rates to optimize pricing. For revenue managers, that meant adding a new strategy (and a new skill) to their decision-making: reputation pricing. For them, the primary quality indicator was price.

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Xotels

NOVEMBER 23, 2023

Hotel Management Strategies If you want to read more about management strategies on everything hotel management? Read the articles below: Top 5 Essential Hotel Management Tips for The Perfect Guest Experience How to Make Your Hotel Stand Out?

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Xotels

NOVEMBER 23, 2023

Hotel Management Strategies If you want to read more about management strategies on everything hotel management? Read the articles below: Top 5 Essential Hotel Management Tips for The Perfect Guest Experience How to Make Your Hotel Stand Out?

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SiteMinder

DECEMBER 20, 2023

While it is capable of generating predictive analysis, such as yield management reports that forecast demand and guide rate adjustments, some users say that these reports don’t convert well to Excel. Increase direct revenue Both ThinkReservations and SiteMinder put a focus on direct bookings – and so they should.

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Travel Media Group

MARCH 22, 2023

And, you know, every morning the general manager would come down and he’d read the PNL cause I do the daily report overnight. Cause we know if we have good people in place, they provide good service and then that good service just translates into revenue and profit, more opportunities for that growth.

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Hotel Operations

MARCH 15, 2023

A need to drive revenue The ongoing pandemic recovery and global macroeconomic uncertainty this year (2023) have put an increased focus on driving revenue growth. But as revenue management technology and other pieces of a hotel’s commercial stack have become more effective, owners have increasingly turned to it for driving results.

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SiteMinder

MARCH 16, 2025

This includes guest services, housekeeping, food and beverage management, maintenance, financial administration, and staff supervision. Effective hotel operations ensure that all these departments work together efficiently to provide a seamless guest experience while optimising costs and revenue.

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