Hotel Speak

FEBRUARY 26, 2024

Adam Harris, Co-Founder and CEO of Cloudbeds , said: “The outlook for the travel industry in 2024 looks rather encouraging, with economic forecasts shifting from fears of a global recession to expectations of a soft landing and moderate growth. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR.

Average Daily Rate 110

Average Daily Rate OTA Overbooking Travel 110

eZee Absolute

DECEMBER 7, 2023

Myth #5: Budgeting and demand forecasting aren’t important in revenue management When it comes to hotel revenue management, budgeting and demand forecasting play a crucial role. Demand forecasting, Budgeting, and revenue management are all interlinked. Do not shy away from revenue management.

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Revenue Management Revenue Management Overbooking 98

SiteMinder

JUNE 12, 2024

By understanding and anticipating guest behaviour and market dynamics, hotels can optimise their pricing strategies to boost their bottom line. It’s a testament to how industries adapt, grow, and refine their strategies in response to changing market dynamics and customer expectations.

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Inn Quest

SEPTEMBER 5, 2023

By implementing an inventory tracking system, hotels can minimize underbooking, reduce overbooking risks, set competitive prices and provide a seamless guest experience, ultimately leading to increased revenue and improved operational efficiency. This prevents overbooking and rate disparities, enhancing the guest experience.

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Management Overbooking Revenue Hotels 87

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

Inn Quest

AUGUST 8, 2023

In other words, it is a form of dynamic pricing where businesses vary the prices based on the changes in demand and real-time market conditions. Offering competitive rates during off-peak seasons allows hotels to remain active in the market and attract guests even when other competitors might be struggling to maintain occupancy.

Hotels 88

Hotels Occupancy Overbooking Revenue 88

SiteMinder

JUNE 26, 2024

Included in this will be key metrics, forecasting models, and trending insights. By prioritizing revenue optimization, your hotel will be in a stronger position to take advantage of data, trends, and market insights. This allows hotels to forecast future demand and adjust their pricing strategies accordingly.

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Revenue Revenue Management Upsell Global Distribution System 72

STAAH

NOVEMBER 8, 2022

The second of our two-part blog series on revenue management looks beyond challenges towards trends emerging from dwindled demand, patchy recovery and flipping of established revenue management processes to forecast and inform pricing. If you’re lost amidst volatile demand and ineffective conventional forecasting methods, don’t worry.

Revenue Management 98

Revenue Management Revenue Management Forecasting 98

Horizon Hospitality

JULY 10, 2024

Striking the right equilibrium requires a keen understanding of market dynamics, customer behavior, and strategic pricing. An RMS will consider various factors like historical data, market trends, and competitive pricing. By ensuring rate parity and availability across channels, you can prevent overbooking and maximize exposure.

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Hotel Business

MARCH 29, 2023

Automated Configuration for G3 RMS completes the following modules to ensure confidence in a property’s system settings and outputs: Rooms configuration: Automatically groups room types that have similar pricing and demand into room classes to maximize room performance with optimal pricing decisions, last room value and overbooking controls.

Revenue 52

Revenue Revenue Management Overbooking Forecasting 52

Hotelogix

JANUARY 19, 2025

This synchronization minimizes the risk of overbookings and ensures optimal room distribution. A robust PMS provides insights into occupancy trends, revenue metrics, and guest behavior patterns, allowing hoteliers to forecast demand and adjust strategies accordingly.

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Management Operations Occupancy Revenue 40

eZee Absolute

OCTOBER 24, 2024

In today’s competitive market, mastering distribution channels is essential for maximizing a hotel’s success. Imagine a hotel that anticipates guest needs before they even ask, adjusts pricing dynamically using real-time data, and tailors marketing efforts to each traveler’s unique preferences.

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Hotels Revenue Management Overbooking Revenue 59

Hotel Business

MARCH 14, 2024

“We believe this new solution will enable our clients to thrive in a competitive market landscape.” AI-powered algorithms can analyze vast amounts of data, including user preferences, booking history and market trends, to provide tailored recommendations and customized experiences for guests.

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Overbooking Revenue Upsell Services 59

Inn Quest

APRIL 5, 2023

This strategy ensures that rooms are not sold below their market value during low-demand periods and not priced too high during high-demand periods, resulting in empty rooms. Similarly, yield management enables hotels to adjust to changing market conditions, resulting in better competitive positioning.

Yield Management 88

Yield Management Management Occupancy Revenue 88

Catala Consulting

JULY 30, 2023

The science of resort revenue management transforms various factors, such as booking patterns, guest behaviour, market trends, and competitor analysis, into tangible insights that drive financial performance. Improved Forecasting: Resort revenue management allows establishments to make accurate demand predictions.

Revenue Management 52

Revenue Management Revenue Resorts Management 52

Cloudbeds

FEBRUARY 26, 2024

Adam Harris, Co-Founder and CEO of Cloudbeds, said : “The outlook for the travel industry in 2024 looks rather encouraging, with economic forecasts shifting from fears of a global recession to expectations of a soft landing and moderate growth. With demand relatively flat, hotels will need to focus efforts on growing market share and RevPAR.

Average Daily Rate 52

Average Daily Rate OTA Overbooking Travel 52

Hotelogix

OCTOBER 24, 2024

There are several types of hospitality technology solutions that are available in the market. It analyses several factors including demand, season, occupancy forecast, and competitor pricing, etc. This would lead to overbooking and double booking. This too, helps you avoid overbooking and double booking.

OTA 52

OTA Management Overbooking Cancellation 52

SiteMinder

AUGUST 1, 2024

While both eBooking and Ctrip extranet platforms offer similar functionalities, they are designed to cater to different markets. eBooking’s extranet is more generic, whereas Ctrip, a subsidiary of Trip.com Group, focuses on the Chinese market. Highlight recent renovations to keep listings fresh.

Revenue 52

Revenue Yield Management Overbooking Management 52

Little Hotelier

MARCH 10, 2024

The software supports various functions, including reservation management, rate setting, and sales forecasting, facilitating a more organised and strategic approach to selling rooms and services. It analyses market data, including demand trends, competitor pricing, and customer preferences, to assist hoteliers in setting optimal room rates.

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Hotel Sales Sales Revenue Management Revenue 52

Hotelogix

AUGUST 13, 2024

In this context, one of the most transformative trends reshaping how hotels market and sell their rooms is Attribute-Based Selling (ABS). This approach allows for more precise hotel forecasting and inventory control, reducing the risk of overbooking or underutilization of certain room features.

Revenue 52

Revenue Hotels Occupancy Overbooking 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

Catala Consulting

MAY 17, 2024

Revenue management is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. Reception staff must be trained to manage reservations dynamically, accommodating walk-ins and overbookings in a manner that optimizes room availability and revenue.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

Hotelogix

NOVEMBER 30, 2023

They play a pivotal role in marketing and selling rooms. An excellent marketing strategy incorporates OTAs to boost sales and revenue. While one OTA can help you reach out to an international audience  - say mainly from the Southeast Asian market, the other one may help capture customers from Europe.

OTA 59

OTA Hotels Online Sales Marketing 59

STAAH

JANUARY 8, 2024

Primary among them is that bookings made from any platform will reflect in real-time and accurately in your Hotel PMS (Property Management Systems), so you avoid overbookings/double-bookings or do not have to worry about any missed bookings plus ensuring rate parity.

Management 52

Management Revenue Overbooking Forecasting 52

SiteMinder

DECEMBER 7, 2023

This process requires continuous analysis of market trends, booking patterns, and competitor strategies. It’s not just about setting the right price, but also about adjusting it in response to market changes. Hotel rate management is the process of strategically pricing rooms to attract guests while also maximising revenue.

Management 59

Management Average Daily Rate Occupancy Revenue 59

Hotelogix

MAY 16, 2024

Sell more rooms: With increased online visibility, you can drive more bookings while eliminating overbookings and guest dissatisfaction.  A booking engine integrated with your PMS and channel manager simplifies the booking process for guests and collects valuable guest data for personalized marketing.

Operations 52

Operations OTA Hotels Revenue 52

Little Hotelier

JULY 16, 2024

Use data effectively – Gaining access to key market and competitor insights will give you a much clearer idea of how to approach your inventory management. Of course, you need to balance this with the market you’re in and what your competitors are doing. The main priority was to eliminate overbooking. Is it luxury guests?

Management 52

Management Hotels Revenue OTA 52

Hotelogix

AUGUST 27, 2024

Online travel distribution is growing fast—faster than the overall travel market. While this offers new opportunities for your hotel, it also challenges you to cut distribution costs while expanding your brand in a highly competitive market. Integrating with a GDS can open up new markets and bring in more bookings.

Global Distribution System 52

Global Distribution System OTA Revenue Hotels 52

Cloudbeds

APRIL 30, 2024

Room price optimization is a catch-all term for the process of adjusting your prices in real-time based on various factors such as market demand and supply, competitor pricing, historical data, customer behavior, and market trends. Capturing new revenue opportunities. Maximizing occupancy.

Revenue 52

Revenue Revenue Management Occupancy Hotels 52

Hotelogix

OCTOBER 19, 2023

They include history and forecast reports, hotel revenue reports, hotel reservation reports, night audit reports, MIS and manager flash reports, and many more. It improves a hotel's online visibility and sales while eliminating overbooking.    Reports: This is very critical.

Hotels 52

Hotels Revenue OTA Management 52

Hotel Operations

FEBRUARY 12, 2023

“We do little studio apartments, which are a little bit bigger and have a kitchen, which gives us a wider market to target. We don’t only serve overnight hotel guests, but also what we call mid-stay or temporary housing markets we can tap into. It gives me a live forecast of my financial performance.

Operations 52

Operations Real Estate Hotels Revenue 52

Catala Consulting

FEBRUARY 24, 2025

The answer lies in understanding the science behind hotel distribution leveraging data analytics, demand forecasting, and pricing strategies to optimize bookings across channels. Key factors in demand forecasting include: Seasonality: Understanding peak vs. off-peak demand. Heres how the science works: A.

Global Distribution System 52

Global Distribution System OTA Forecasting Revenue Management 52

Hotelogix

APRIL 16, 2025

Opportunity—but only if you can navigate this red-hot market with the right strategies and tools. 👉 Read Also - Motel vs. Hotel: 7 Key Factors for Smart Travelers The cloud-based PMS market for small and medium hotels is experiencing remarkable growth, with adoption rates increasing by 8.2% annually from 2024 to 2030.

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SiteMinder

MARCH 16, 2025

Hotels that operate efficiently are in a stronger position to capitalise on industry growth, adapt to shifting market conditions, and meet evolving guest expectations. Poor financial management can quickly erode profitability, especially in a competitive market.

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