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[20 October, London] Mews, the industry-leading hospitality cloud, announced today its automated space management feature within its PMS to help hotels diversify their revenue streams and increase profit.
SiteMinder, the world’s leading hotel distribution and revenue platform, unveiled the winners of the 2024 SiteMinder Partner Awards during a ceremony at WTM London, recognising businesses across five continents that have successfully simplified an increasingly-complex landscape for hoteliers.
Stayntouch, a global leader in cloud hotel property management systems (PMS) and guest-centric technology, unveiled UpsellPRO, an advanced upselling tool designed to expand and maximize revenue opportunities for hotels.
No need to obsess over RevPAR or lose sleep over ADR – there are much more important metrics out there for revenuemanagers. Revenuemanagement is not a walk in the park. The latest guide by Mews, the industry-leading hospitality cloud, explores the new success metrics for revenuemanagers.
No need to obsess over RevPAR or lose sleep over ADR – there are much more important metrics out there for revenuemanagers. Revenuemanagement is not a walk in the park. The latest guide by Mews, the industry-leading hospitality cloud, explores the new success metrics for revenuemanagers.
What is hotel upselling? Hotel upselling is the practice of encouraging guests to purchase additional services or upgrades during their stay, beyond their initial booking. In this blog, you’ll learn all the tips you need to make upselling a success at your business. Table of contents Why is hotel upselling important?
In today’s fast-paced hospitality landscape, staying ahead of the curve is paramount for maximizing revenue potential. As technology continues to evolve, so do the strategies and innovations within revenuemanagement.
MONTREAL, June 25, 2024 /CNW/ - Plusgrade, a global leader powering ancillary revenue solutions for the travel industry, today announces a partnership with Lark Hotels, the acclaimed lifestyle hotel company, heralding a new era of hospitality excellence.
Upsells are a simple, straightforward way to drive more revenue, increase engagement, and build customer loyalty. Implementing the right upsell strategy can improve the guest experience and your bottom line.
Optimal resort revenuemanagement requires organizations to look beyond the guestroom as they seek to maximize revenue. Ideally, resort hoteliers need to understand which guests are likely to spend the most overall during their stay—and even better, understand which guests are most profitable.
Exceptional guest experience can elevate a hotel’s reputation and increase revenue and repeat stays. 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?
All employees are revenuemanagement ambassadors for their organisations. Everyone contributes to the revenue success of a business in both direct and non-direct ways. The impact of operational performance on revenue cannot be overlooked.
What is hotel revenuemanagement? Hotel revenuemanagement is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. What is the primary purpose of revenuemanagement?
A quick search on the internet yields a wide range of definitions for ‘revenuemanagement’. Some of these take a theoretical, almost academic approach and, in several instances, there are iterations of revenuemanagement’s classic definition: ‘selling the right room, to the right guest, at the right time, for the right price’.
AUSTIN, Texas—Oracle announced that Marriott International has selected Oracle Hospitality OPERA Cloud Property Management System (PMS) and Sales and Event Management as a hospitality cloud platform for luxury, premium, select-service, and midscale properties.
Upselling is often misunderstood as a revenue tool. When done well, upselling can be a way to provide additional value to guests, enhancing their overall satisfaction. However, it's more than just a way for hotels to earn more money. In this post, I will explore this strategy, looking at how it can benefit hotels and guests.
We have written extensively about hotel revenuemanagement strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenuemanagement, we have made a summary of all the top advice from our perspective as a hotel revenuemanagement consulting company.
What is revenue optimization? Revenue optimization in hotels is a comprehensive strategy that accounts for all revenue streams and uses data to enhance the overall revenue performance of the business. Table of contents Why is hotel revenue optimization important? Our smart hotel platform helps you do exactly that.
Upselling in hotels often gets a bad reputation, but when done thoughtfully, it’s a powerful way to enhance the guest experience while boosting revenue. Upselling should feel like a helpful suggestion rather than a sales tactic. Upselling should feel like a helpful suggestion rather than a sales tactic.
A few small but powerful tweaks to your overall pricing strategy can make a dent to your revenue. In this blog, we share some simple tactics and ideas that can boost your hotel’s revenue. Optimise ancillary revenue. Attractively pricing these or combining with room booking to create packages can bump up your revenue quickly.
What is Yield Management? Yield management is a pricing and revenuemanagement 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.
With this seamless and end-to-end integration, Hotelogix aims to help hotels efficiently upsell and increase direct bookings for more revenue. It will, in turn, help hotels identify the guests’ spending patterns and present them with upselling opportunities.
[15 January 2025] HiJiffy, a leader in conversational AI for hospitality, has introduced its latest innovation, the Campaigns Manager , designed to further streamline and automate guest communication across the entire guest journey. Arrival Essential details such as Wi-Fi codes, check-in instructions, and breakfast schedules.
Revenuemanagement 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.
To analyze revenue and costs effectively through the guest journey, you need Business Intelligence (BI) tools that empower hotel commercial teams and management by providing real-time data analytics, actionable insights, and predictive modeling.
Hotels can even upsell additional amenities, leading to increased revenue and guest satisfaction. Digital menus are also easily updated in real-time, reducing printing costs and paper waste, while also providing an opportunity for restaurants to showcase high-margin items and offer automated upsells.
By handling guest inquiries 24/7, promoting services, and providing useful insights, chatbots save your staff time and can even boost your revenue. Given 76% of people are willing to pay more to stay at hotels with better reviews, this could have a direct impact on revenue. Here are some key ways a chatbot can benefit your hotel: 1.
This scalability is especially valuable for hotels – as more information is collected about guest behavior, booking trends , and occupancy patterns the more precise rate adjustments, inventory management, and marketing strategies will be in the future. Why it’s important for hotels? Why it’s important for hotels?
With so much to think about as a modern hotelier, including how to respond to growing customer needs while maximising revenue and efficiency, you need to find solutions that make running a property much easier. Hotel management apps are one way of both increasing performance at your business and generally making life easier.
XOTELS – RevenueManagement eBook In the first chapter of this eBook, we will go over the definition of what is revenuemanagement in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenuemanagement to more advanced practices and strategies.
What is hotel revenue? Hotel revenue is the income your business earns from selling rooms or other products and services to guests. While revenue is mostly generated from selling your rooms, you can also collect revenue from your amenities such as a bar, restaurant, gym, or spa.
Eister There are many myths about revenuemanagement, but there are five we hear most often. Myth #1: Revenuemanagement is only essential when business is booming. Revenuemanagement is a fundamental part of business, especially in such a dynamic industry as hospitality. Are these actually attainable?
Stayntouch , a cloud hotel property management system (PMS) and guest-centric technology company, has unveiled UpsellPRO, an advanced upselling tool designed to expand and maximize revenue opportunities for hotels, according to the company.
For properties wondering how to increase hotel revenue, the answer lies in data aggregation Driving non-room revenue is one of the key goals for almost all hoteliers and hotel operators. But what if maximizing revenue was easier than you think? Want to learn how to increase hotel revenue at your property by using guest data?
Hotel revenuemanagement strategies make the most of hospitality budgets by connecting the right guests with the best offer at the optimal time. Read on for a list of proven hotel revenuemanagement strategies that work when you need to turn a profit.
But luckily, there is a solution: Single-solution platforms that consolidate all essential hotel management tools into one complete system. Gone are the days of dealing with multiple systems for reservations, revenuemanagement, and guest engagement. Another channel manager for distribution.
What is revenuemanagement consulting? Revenuemanagement consulting is specialised expertise that a business can bring in to gain guidance on managing and optimising revenue. An investment in hotel revenuemanagement services is therefore one that can quickly deliver an attributable return.
Moving from merely managing hotel revenue to maximizing profit is a critical transformation that ensures your property's long-term success. Here's a detailed guide on transforming your hotel's revenuemanagement to focus on profit maximization. Read Also: What is Dynamic Pricing in Hotels?
In the dynamic landscape of the hospitality industry, effective hotel revenuemanagement stands as a cornerstone for optimizing profits. Understanding the Essence Hotel revenuemanagement is a strategic process encompassing the precise pricing of hotel rooms to unlock their full revenue potential.
But hotel revenuemanagement can be your secret wand. Revenuemanagement is about more than just the right pricing. It’s about knowing what guests need, predicting bookings, and adjusting rates to make more revenue. In the ever-competitive world of hospitality, staying ahead can be a real challenge.
These communications become a fantastic opportunity to upsell your services. Integration with your PMS and channel manager to ensure the website always reflects accurate information. Room upgrades are always a winner – without impacting your revenue, if you have better rooms available, offer them at a highly discounted rate.
Few hoteliers use front desk upselling to the max. Not only do the front desk employees need to stay up to speed with all the upselling deals, but they also need to be comfortable using essential communication skills and marketing techniques. In short, to get it right, you need to read each situation correctly and.
The hotel overbooking strategy is a revenuemanagement technique that hotels use to maximise occupancy and revenue. However, the downsides of this strategy are potential double-bookings and lost revenue as a result of giving away free room upgrades. 6) Train your staff to manage overbookings.
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