Hotelogix

JANUARY 19, 2025

Identify & Analyze Competition Why it matters: Staying competitive requires understanding your market. Best Practice: Combine multiple strategies to adapt to market fluctuations and guest segments. Historical Forecasts Historical data helps you predict future demand and optimize rates. amenities, luxury).

Minimum Length of Stay 40

Minimum Length of Stay Occupancy Forecasting Revenue 40

Xotels

APRIL 3, 2024

This is done by thoroughly understanding your property, its customers, and the market. Understand your Hotel´s Market The success of your revenue management strategy depends on how well you understand your market. This is one of the first steps when creating a revenue management strategy, performing thorough market research.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Hotelogix

NOVEMBER 19, 2023

It enables you to adjust rates and marketing strategies to attract more guests during peak/off times. Data analytics and forecasting tools like revenue management systems can help with this. It can also help you to optimize your pricing strategy, as extended stays may be more profitable than shorter ones.

Occupancy 59

Occupancy Maximum Length of Stay Minimum Length of Stay Revenue Management 59

Hotelogix

NOVEMBER 13, 2023

2 Forecasting-Based Pricing It is all about tweaking your hotel room price while forecasting the number of rooms that would be available for future dates. That’s how a proper forecasting would allow you to make necessary changes in your room rates, based on demand and expected occupancy.

Revenue 52

Revenue Occupancy Forecasting Minimum Length of Stay 52

Xotels

APRIL 3, 2024

This is done by thoroughly understanding your property, its customers, and the market. Understand your Hotels Market The success of your revenue management strategy depends on how well you understand your market. This is one of the first steps when creating a revenue management strategy, performing thorough market research.

Revenue Management 40

Revenue Management Revenue Management Ancillary Revenue 40