This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The latest guide by Mews, the industry-leading hospitality cloud, explores the new success metrics for revenue managers. Let’s start with a hospitality classic. It gives you data from only one income source and is based on an occupancy rate that’s also an incomplete representation. Get your copy here.
An effective strategy that can help is to upsell additional services or products relevant to customers. Therefore, upselling in hotels is not only influential but cost-efficient as well. What is Upselling? Upselling is a sales strategy that offers consumers additional services or add-ons to increase revenue.
In STAAH, the Indian hospitality group found a sophisticated system to help manage room types and yield rules, and boost direct revenue by 30%. Daily deals, upselling, promos and a number of other in-built capabilities allow Chokhi Dhani revenue managers to drive demand based dynamic pricing decisions.
The latest guide by Mews, the industry-leading hospitality cloud, explores the new success metrics for revenue managers. Let’s start with a hospitality classic. It gives you data from only one income source and is based on an occupancy rate that’s also an incomplete representation. Get your copy here.
After years of recovery, the industry is not just reboundingit is entering a new phase of expansion, marked by evolving traveller expectations and a stronger dedication to personalisation and experience-driven hospitality. Leveraging Revenue Beyond the Room The shift from RevPAR to RevPAG is more than just a trendit is a necessity.
Unveiled at Cloudbeds’ Passport User Conference on October 23, the technology provider’s first-of-its-kind ‘smart hospitality engine’, Cloudbeds Intelligence , will sit at the core of its platform, empowering hoteliers with real-time insights and actionable recommendations across their entire operations.
The findings are the result of a survey of global senior hospitality leaders representing a diverse range of properties and management groups. Several key themes emerged from the research, including a primary focus of investment on ‘improving operational efficiencies during times of high occupancy’ (43%).
Hospitality leaders embrace technology for growth Our latest report, “ Travel Technology Investment Trends 2024 ,” reveals a strong commitment among hoteliers to increase their technology spend. As the hospitality industry evolves, it’s exciting to see more hoteliers recognizing the immense value of a CRS.
The Rise of AI in Hospitality The hospitality industry is built on one central promise: delivering exceptional guest experiences. AI agents are reshaping the hospitality industry, automating repetitive tasks, optimizing revenue strategies, and enabling more meaningful guest interactions.
In the competitive world of hospitality, having a strong sales strategy is key to ensuring your hotel's success. The right sales tactics can help increase revenue, boost occupancy rates , and ensure guests have a positive experience. A loyalty program can encourage guests to keep coming back, which boosts your occupancy rate.
Mews , the industry-leading hospitality cloud, today released the Mews Data Dive , a real-time measure of hospitality’s performance in 2023. The data is another proof point that occupancy levels have more than stabilized, making for a meaningful rise in RevPAR for our customers,” said Matt Welle, Mews CEO.
The findings are the result of a survey of global senior hospitality leaders representing a diverse range of properties and management groups. Several key themes emerged from the research, including a primary focus of investment on “improving operational efficiencies during times of high occupancy (43%).”
In today’s fast-paced hospitality landscape, staying ahead of the curve is paramount for maximizing revenue potential. Hotels can increase revenue per guest by adjusting prices according to demand, seasonality, and consumer preferences , achieved through upselling and cross-selling additional services and products.
The report also compares this year’s data to summer 2022 to pinpoint how the hospitality sector is changing. Based on data from Mews partners worldwide, the Mews Data Snap unpacks hospitality’s performance across five key areas: occupancy, ADR and RevPAR; online check-ins and upsells; and additional bookable spaces.
Revenue management is a crucial aspect of the hospitality industry, focusing on maximizing income through strategic pricing, inventory control, and demand forecasting. These frontline employees are instrumental in shaping the guest experience, impacting occupancy rates, and ultimately driving revenue.
There’s a full range of advantages for hotels and hospitality businesses. Here are some of the key benefits: Increased profitability: By setting the right room rates and managing inventory effectively, hotels can maximize their revenue without necessarily sacrificing occupancy rates.
The hospitality industry is no longer operating on traditional pen-and-paper methods. Double bookings , incorrect charges, and missed upsell opportunities can result in revenue loss and negative guest reviews. Access real-time reports on revenue, occupancy, and housekeeping. Guests today expect speed and convenience.
The hospitality industry is highly competitive, making differentiation essential. Booking promotions serve multiple strategic purposes: Increasing occupancy rates: Promotions can help fill rooms during low-demand periods and help a hotel “piggyback” on subjects that are already front of mind for their audience.
Some owners of accommodation properties are experienced business people, but new to the day-to-day operations of a hospitality business,” says Tamie Matthews, CEO and Founder of RevenYou, a consultancy for independent hotels. They would sell the same price to everyone and assume that 100% occupancy was the ultimate goal.
According to the Mews Data Dive , a real-time measure of hospitality’s performance in 2023, ADR rose 6% year-over-year (YOY) to an average of $250, and RevPAR saw an increase of 9% YOY to $126. Average occupancy in 2023 was 49.1%, a 3% increase YOY and 19% higher than 2019 levels.
Unveiled at Cloudbeds’ Passport User Conference on October 23, the technology provider’s first-of-its-kind ‘smart hospitality engine’, Cloudbeds Intelligence , will sit at the core of its platform, empowering hoteliers with real-time insights and actionable recommendations across their entire operations.
Whether you manage a boutique inn or a luxury resort, these innovations will redefine hospitality. Real-time insights : Smart systems provide instant data on everything from occupancy rates to energy consumption, allowing for quick, informed decision-making. It's like mind-reading, but for hospitality! Let’s dive in!
Understanding future demand trends, their causes, and the guest segments driving them can help hotel revenue managers adjust room rates to boost occupancy and sales. Download guide Limitations of traditional hotel forecasting There are two limitations of traditional forecasting in the hospitality industry leading to this situation.
By strategically analyzing revenue booked, occupancy rates, acquisition costs, and guest segments, hotels can build an advanced distribution strategy that delivers real value. These include: Occupancy rate – which channels contribute most to occupancy? RevPAR – which booking sites result in the highest RevPAR?
Are you curious about the latest trends and impact of AI in the hospitality industry? Artificial intelligence (AI) is seamlessly integrating into hospitality experiences, redefining our expectations – from chatbots providing instant customer support to predictive analytics optimizing hotel operations.
5 ways hotels can use multi-modal AI The potential of multi-modal AI in hospitality is endless. Upselling amenities and services If a traveler enquires about family-friendly room options, the AI can combine visual and contextual data (e.g., Imagine you have a new employee working at the front desk of your cozy hotel in the Alps.
Presenting excellence is the goal of hospitality. With an increasingly competitive online hospitality marketplace, hoteliers are actively looking for ways to avoid this commission and redirect guests to their website where they can easily complete their booking with the aid of the hotel’s direct booking engine.
In the dynamic landscape of the hospitality industry, effective hotel revenue management stands as a cornerstone for optimizing profits. Key metrics like occupancy rates and revenue remain uncharted waters, unguided by data-driven insights. Relying on intuition and market perception, its rates are subject to unpredictable fluctuations.
In hospitality, guest satisfaction reigns supreme and hoteliers face the constant challenge of fostering lasting relationships and maximising revenue. Send personalised messages, create target upsell offers, offer digital check-in, collect feedback and reviews, and more. Learn more 2.
Many hoteliers question if it’s worthwhile investing in a direct booking strategy or if they can solely rely on online travel agencies (OTAs) like Airbnb, Booking.com, or Trip.com to fill occupancy. Upsells and add-ons. What many lodging businesses overlook are the different ways direct bookings can be captured.
There is no set formula to increase a hotel’s revenue, it can be achieved by creating a good promotion plan, tapping into sources of ancillary revenue , upselling and other marketing strategies. Rely on hospitality technology. In this blog, we share some simple tactics and ideas that can boost your hotel’s revenue.
The hospitality industry has been notoriously slow to innovate, relying on outdated, siloed systems that make running day-to-day operations a struggle. Integrated finance and payments designed specifically for the hospitality industry to reduce manual entry errors and consolidate all payment information within your PMS. Room controls.
What is hospitality training? Hospitality training is a comprehensive educational and practical program designed to equip individuals with the necessary skills, knowledge, and competencies required to excel in the hospitality industry. What are the objectives of hospitality training? Here’s what to keep in mind: 1.
Originally published in PhocusWire Global hotel demand is off to a strong start in 2023, with Q1 outperforming hotel occupancy figures for the same months in 2022, according to Amadeus’ Demand360 ® data as of March 12, 2023. Above all, the study highlights the importance of personalization and innovation across the hospitality spectrum.
Travel sites like Airbnb and VRBO create similar expectations in the hospitality industry by allowing travelers to browse destinations and accommodations, peruse photos, descriptions, and amenities, make a reservation, and process payment , all with just a few clicks. See how Optimize for website conversions.
As we step into 2023, the hospitality industry is still reeling from the effects of the pandemic – which makes implementing hotel pricing strategies more important than ever. By drawing in more visitors, raising occupancy rates and enhancing profitability, a thoughtful pricing strategy can help hotels maximize their revenue.
In this article, we explore the different types of AI, how it’s being thoughtfully incorporated into hotel technology, and its impact on the hospitality industry. Below we’ve broken down some of the most popular types used in hospitality. What is artificial intelligence?
Hotel distribution has always been a critical aspect of the hospitality industry. Effective hotel distribution strategies enable hotels to target the right audience, optimise occupancy rates, and enhance revenue management.
A direct booking strategy is a powerful force in reducing customer acquisition costs , increasing occupancy, and improving profitability by building greater brand loyalty and giving you direct access to guests. These types of promotions are great for when you need to fill occupancy fast and should not be used all the time.
Hotel revenue management strategies make the most of hospitality budgets by connecting the right guests with the best offer at the optimal time. This tactic uses real-time booking data for market demand, competitor rates, and seasonal considerations to determine when to increase or decrease rates to boost occupancy and revenue.
Sustainability was up until very recently at the forefront of desirable hospitality innovations. Guests had increased their demands for sustainable hospitality while governments had doubled down on environmental programs, and investors followed suit by focusing on establishments with actionable sustainability practices.
Originally published on Hospitality Net By: Francisco Pérez-Lozao Rüter, President, Hospitality, Amadeus Guests’ needs are evolving, and in 2024 they center around a desire for more personalized experiences, an interest in sustainable practices, and an expectation for a higher level of service that caters to their individual preferences.
In the UK, it’s not going to get better any time soon – the UK National Living Wage has just increased, and faced with ongoing staff shortages, hospitality companies are having to pay more to attract and retain teams. It’s time to stand out of the crowd and differentiate your F&B offering in your area.
The hospitality industry has a reputation for lagging behind in its tech adoption journey. Independent hotels, despite having fewer guest rooms and less complex operations, are recognizing that these systems improve pricing strategies, occupancy rates, and Revenue Per Available Room (RevPAR). Learn more 8.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content