SiteMinder

OCTOBER 10, 2023

What is hotel forecasting? Hotel forecasting is a method that is used to help managers determine their accommodation’s future demand and revenue performance. Whether you’re a seasoned hotelier or new to the industry, understanding the nuances of forecasting can be a game-changer for your business.

Forecasting 52

Forecasting Revenue Average Daily Rate Occupancy 52

SiteMinder

JUNE 8, 2022

As unpredictable as it can be at times (especially through the COVID-19 pandemic), forecasting is still an important part of running a hotel and being able to make strategic revenue management decisions. What is hotel revenue forecasting? Why should your hotel use forecasting? Table of contents.

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

Hotel Speak

JULY 4, 2024

July 3, 2024— DerbySoft , specialists in high-performance distribution services, announced a new partnership with IDeaS , a SAS company, provider of hospitality revenue management software and services, that strategically provides operational and revenue-enhancing benefits for hotels of all types.

Revenue 94

Revenue Revenue Management Forecasting Overbooking 94

SiteMinder

JUNE 26, 2024

Revenue optimization recognizes and responds to opportunities to not only sell more, but sell more profitably too by using data, analytics, reports to make strategic decisions. Included in this will be key metrics, forecasting models, and trending insights. Table of contents Why is hotel revenue optimization important?

Revenue 72

Revenue Revenue Management Upsell Global Distribution System 72

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. Revenue management is the focal point for hotels in today’s climate.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

Inn Quest

SEPTEMBER 5, 2023

Effective hotel inventory management relies on technology solutions like Property Management System s (PMS), Channel Managers, and Revenue Management Systems (RMS) to automate tasks, analyze data and make informed decisions. This prevents overbooking and rate disparities, enhancing the guest experience.

Management 87

Management Overbooking Revenue Hotels 87

Horizon Hospitality

JULY 10, 2024

Of course, technology will play a critical role in streamlining every step in the process above, starting with your Revenue Management System (RMS), which employs advanced algorithms to forecast demand and recommend optimal pricing. Use predictive analytics to forecast future demand.

Occupancy 52

Occupancy Revenue Yield Management Forecasting 52

Hotel Business

MARCH 29, 2023

IDeaS , a SAS company, has introduced Automated Configuration for its G3 revenue management system (RMS), decreasing the initial configuration of G3 from weeks to as little as one day, depending on client needs and requirements. It’s like having another revenue manager on the team, analyzing the data 24/7.”

Revenue 52

Revenue Revenue Management Overbooking Forecasting 52

eZee Absolute

OCTOBER 24, 2024

AI-Powered Revenue Management Systems Artificial Intelligence (AI) has swiftly moved from being a futuristic concept to a tangible reality, revolutionizing industries across the globe—including hospitality. This centralization not only streamlines operations but also reduces the risk of overbookings and discrepancies.

Hotels 52

Hotels Revenue Management Overbooking Revenue 52

Hotelogix

SEPTEMBER 12, 2024

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., Mobile accessibility : Ensure the PMS offers mobile access to manage operations on the go.

Management 52

Management Revenue Management Hotels Operations 52

Hotel Business

MARCH 14, 2024

Furthermore, AI can facilitate predictive analytics to forecast demand patterns accurately, allowing hotels to allocate resources efficiently and optimize inventory management. This proactive approach minimizes the risk of overbooking or underutilization of rooms, ultimately improving revenue management and operational efficiency.

Overbooking 59

Overbooking Revenue Upsell Services 59

Inn Quest

AUGUST 8, 2023

Improved Inventory Management: Implementing seasonal pricing allows hotels to manage their inventory more efficiently. By accurately forecasting demand patterns, hoteliers can allocate the right number of rooms to each price tier. To learn about the power of online reviews for hotels, read this.

Hotels 88

Hotels Occupancy Overbooking Revenue 88

Little Hotelier

MARCH 10, 2024

It centralises information on bookings, customer interactions, and revenue streams, allowing hoteliers to efficiently track performance and make informed decisions. Manage your hotel sales with the best software in the market Use Little Hotelier’s revenue management features to manage your hotel sales and boost hotel bookings.

Hotel Sales 52

Hotel Sales Sales Revenue Management Revenue 52

Inn Quest

FEBRUARY 1, 2023

Hoteliers can also use a channel manager to seamlessly connect with popular OTAs such as booking.com, Expedia, AirB&B, etc. Integrated platforms help increase the hotel’s visibility, maximize occupancy, and decrease overbookings. A Revenue Management System can simplify distribution and increase conversion.

Management 88

Management Consumer Hotels Overbooking 88

SiteMinder

AUGUST 1, 2024

Here’s a comprehensive guide on how to optimise your listing effectively after logging into the Trip.com extranet: Update room availability: Use a channel manager to sync room availability across all platforms in real-time, preventing overbooking and optimising inventory.

Revenue 52

Revenue Yield Management Overbooking Management 52

Cloudbeds

APRIL 30, 2024

A question that likely keeps you up at night is, ‘How can I boost revenue per available room (RevPAR) and outpace my competitors?’ It’s the bedrock of hotel revenue management , and for good reason. But it’s not solely about revenue. Why is hotel price optimization an essential pillar of revenue management?

Revenue 52

Revenue Revenue Management Occupancy Hotels 52

Inn Quest

APRIL 5, 2023

Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yield management in hotels, particularly in hotel revenue management. Yield management enables the adjustment of prices and inventory to meet seasonal demand, resulting in better revenue management in hotels.

Yield Management 88

Yield Management Management Occupancy Revenue 88

Hotelogix

AUGUST 13, 2024

Optimized revenue management: Hotels can maximize their revenue potential by monetizing individual room attributes. By offering attributes as separate options, hotels can better manage their inventory and allocate resources more efficiently. How to Implement Attribute-Based Selling in Hotels?

Revenue 52

Revenue Hotels Occupancy Overbooking 52

Hotelogix

MAY 16, 2024

Sell more rooms: With increased online visibility, you can drive more bookings while eliminating overbookings and guest dissatisfaction.  Maximizing revenue with a revenue management system  A revenue management system uses historical data and market analytics to forecast demand and adjust pricing in real time.

Operations 52

Operations OTA Hotels Revenue 52

Hotelogix

AUGUST 27, 2024

Walk-ins Pros:  Instant Revenue: Walk-ins generate immediate bookings resulting in increased revenue.  Cons: Unpredictable Revenue: Walk-ins are hard to forecast, leading to fluctuating occupancy rates. This enhances accuracy, and efficiency and reduces the risk of overbooking or discrepancies.

Global Distribution System 52

Global Distribution System OTA Revenue 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

Hotelogix

NOVEMBER 30, 2023

It refers to forecasting demand based on industry trends, current bookings, and past data. This will ensure real-time rate and inventory updates across all OTAs to avoid overbookings and loss of business opportunities. You must know what to charge during each season. One crucial pricing strategy is to charge as per demand.

OTA 59

OTA Hotels Online Sales Marketing 59

SiteMinder

DECEMBER 7, 2023

It pays to obsess over long-range weather forecasts too. This consistent rate presence helps in avoiding disparities, ensuring a unified booking experience for guests and reducing the risk of overbookings or rate conflicts. If it’s a quiet time you can lower your rates to coax more guests in.

Management 59

Management Average Daily Rate Occupancy Revenue 59

Hotel Operations

FEBRUARY 12, 2023

The role of AI and BI in managing numa operations Artificial intelligence (AI) and business intelligence (BI) plays a big role in numa operations, starting with cost controls. “We It gives me a live forecast of my financial performance. It’s linked to our PMS. Another example is inventory counts.

Operations 52

Operations Real Estate Hotels Revenue 52