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.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

SiteMinder

SEPTEMBER 6, 2023

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. Here are just five examples of hotel promotions you can run to increase occupancy and revenue when needed.

Hotels 105

Hotels Events Upsell Occupancy 105

SiteMinder

JUNE 26, 2024

By prioritizing revenue optimization, your hotel will be in a stronger position to take advantage of data, trends, and market insights. Improved forecasting: Revenue optimization involves analyzing data on past booking trends, competitor pricing, and market conditions. Our smart hotel platform helps you do exactly that.

Revenue 72

Revenue Revenue Management Upsell Global Distribution System 72

Cloudbeds

DECEMBER 17, 2024

Missed opportunities to elevate marketing, loyalty programs, and guest experience. Hoteliers can then use these customer profile insights to their advantage for marketing campaigns, loyalty programs and to tailor their propertys overall experience. This insight supports future marketing efforts. The result?

Marketing 40

Marketing Market Upsell Revenue 40

STAAH

FEBRUARY 6, 2024

The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. Don’t forget to monitor external market sentiments such as cancellation of an event or reduction in connectivity to your destination – these could all result in cancellations. What is a hotel overbooking strategy?

Overbooking 91

Overbooking Cancellation Upsell Revenue 91

SiteMinder

JUNE 6, 2024

For instance, Diego De Ponga, Corporate Director of Revenue Management at Palladium Hotel Group, believes the classic definition of revenue management is unrealistic in today’s market, where selling inventory demands more flexibility. “I They would sell the same price to everyone and assume that 100% occupancy was the ultimate goal.

Revenue Management 98

Revenue Management Revenue Management Accommodation 98

STAAH

APRIL 23, 2024

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.

Revenue Management 91

Revenue Management Revenue Ancillary Revenue Management 91

Hotel Business

SEPTEMBER 21, 2023

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. June was the best-performing month, while August saw the highest percentage of rooms occupied.

Upsell 59

Upsell Occupancy Revenue Consumer 59

Hotel Business

JANUARY 24, 2024

“The data is another proof point that occupancy levels have more than stabilized, making for a meaningful rise in RevPAR for our customers.” “The data is another proof point that occupancy levels have more than stabilized, making for a meaningful rise in RevPAR for our customers.” ” For the U.S.

Upsell 59

Upsell Occupancy Travel Revenue 59

Cloudbeds

OCTOBER 17, 2024

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?

OTA 76

OTA Occupancy Hotels Revenue 76

Hotelogix

AUGUST 6, 2024

This shift requires a comprehensive approach integrating cost control, strategic marketing, and top-notch guest services. Train your staff to identify and capitalize on upselling opportunities. Increasing your Hotel's Market Share Growing your market share requires strategic marketing and distribution efforts.

Revenue 52

Revenue Management Upsell Target Marketing 52

SiteMinder

SEPTEMBER 6, 2023

While they can be a wild card in the hotel management game, they offer a unique opportunity to maximise occupancy and revenue. Last-minute hotel room bookings have a range of benefits including: Maximised occupancy : Filling rooms at the eleventh hour ensures that you’re making the most of your available inventory.

Overbooking 98

Overbooking Occupancy Revenue Hotels 98

Catala Consulting

MAY 17, 2024

These frontline employees are instrumental in shaping the guest experience, impacting occupancy rates, and ultimately driving revenue. Upselling and Cross-Selling Opportunities Effective Upselling Techniques Reception staff are in a prime position to upsell additional services and room upgrades.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

Cloudbeds

DECEMBER 2, 2024

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. With no dynamic adaptation, traditional models lack the flexibility to adjust as new market conditions arise. Watch the full session from Passport 2024.

Forecasting 75

Forecasting Occupancy Revenue Management Revenue 75

Catala Consulting

JANUARY 18, 2024

In the dynamic world of hospitality, the UK market stands out as a beacon of innovation and adaptation, particularly in the realm of hotel revenue management. This trend enables more accurate forecasting, dynamic pricing, and personalized marketing strategies, significantly enhancing revenue potential.

Revenue Management 52

Revenue Management Revenue Management Marketing 52

SiteMinder

FEBRUARY 14, 2024

It enables: Market positioning and brand differentiation Adapting to trends allows hotels to position themselves strategically in a crowded market, highlighting unique selling points that resonate with current consumer interests. Either that or it becomes a necessity for them if they have to travel for work or to visit family.

Tourism 59

Tourism Marketing Market Travel 59

Inn Quest

MAY 11, 2023

Importance of Pricing Strategies to Grow Your Hotelier Business Any hotel must have an effective pricing strategy to be successful, especially in a competitive market. By drawing in more visitors, raising occupancy rates and enhancing profitability, a thoughtful pricing strategy can help hotels maximize their revenue.

Revenue 88

Revenue Occupancy Hotels Marketing 88

Hotel Speak

AUGUST 9, 2023

By delving into market dynamics, guest preferences, and strategic pricing, hoteliers can fine-tune their room rates, distribution strategies, and other pivotal elements to achieve maximum occupancy and revenue. Relying on intuition and market perception, its rates are subject to unpredictable fluctuations.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

STAAH

JANUARY 16, 2024

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. It relies on shifts in market demand to inform optimal pricing rather than relying on a fixed price. Here are 10 strategies: 1.

Revenue 87

Revenue Ancillary Revenue Revenue Management Hotels 87

Cloudbeds

MARCH 15, 2023

This information can be used for more personalized pre-stay communication, post-stay follow-ups, and future marketing efforts. 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.

OTA 98

OTA Revenue Sales Travel 98

Cloudbeds

MARCH 23, 2023

It’s often said that the internet is the great equalizer, but the reality is that online travel is dominated by players with huge marketing budgets, like OTAs and big hotel brands. 11 hotel eCommerce strategies How can lodging businesses take advantage of the growing online travel market and attract more bookings?

OTA 98

OTA Digital Marketing Market Marketing 98

Little Hotelier

NOVEMBER 20, 2023

It can be used to track guest information, preferences, and interactions, as well as to automate marketing and sales communications. Send personalised messages, create target upsell offers, offer digital check-in, collect feedback and reviews, and more. Learn more 2. This will lead to more repeat visits and brand advocacy.

Upsell 59

Upsell Hotels Occupancy Revenue 59

SiteMinder

OCTOBER 10, 2023

Discount pricing is a revenue management strategy where prices are lowered temporarily or for certain conditions to attract guests and boost occupancy rates. Hoteliers utilise discount pricing to fill rooms during slow seasons, entice loyal customers, or to stay competitive when market conditions change.

Occupancy 59

Occupancy Events OTA Revenue 59

SiteMinder

JULY 13, 2024

Revenue management revolves around measurement of what customers from different audience segments are willing to pay, as well as the ever-changing supply and demand within each market. The right distribution channels can have strong marketing power, putting your hotel in front of many customers you aren’t able to contact directly.

Revenue Management 98

Revenue Management Revenue Management OTA 98

Hotelogix

NOVEMBER 7, 2024

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. These tools can adjust your rates automatically, based on real-time data and market trends.

Hotel Sales 52

Hotel Sales Revenue Sales OTA 52

Little Hotelier

OCTOBER 30, 2024

Promote and upsell activities easily with Little Hotelier Little Hotelier’s direct booking engine lets you sidestep OTA commission fees while increasing the value of every reservation. By upselling guests with paid activities as part of your custom booking process. Learn more Why are guest activities important in hotels?

Upsell 59

Upsell Events Revenue Hotels 59

Hotel Speak

JULY 24, 2024

Effective hotel distribution strategies enable hotels to target the right audience, optimise occupancy rates, and enhance revenue management. The dynamic landscape of hotel distribution offers numerous opportunities for hotels to maximise their market presence and profitability.

OTA 75

OTA Hotels Revenue Revenue Management 75

SiteMinder

JULY 25, 2022

For example, if you look at your historical ADR figures and identify trends, you’ll start to understand your market better, as well your property’s seasonality. Track the overall economy and market demand – By keeping track of market fluctuations you’ll have a better idea of when you can raise prices, by how much, and for how long.

Average Daily Rate 52

Average Daily Rate Upsell Occupancy Revenue 52

Xotels

JULY 26, 2024

Segment Your Market: Not all guests are created equal. Segment your market and tailor your pricing to each segment. A dynamic pricing strategy allows you to react to market fluctuations in real-time , ensuring you’re always maximizing revenue. Use Dynamic Pricing: Don’t be afraid to change your prices frequently.

Yield Management 59

Yield Management Upsell Hotels Ancillary Revenue 59

Social Tables

SEPTEMBER 22, 2017

Big data is a way to identify what these hotels do best and market those strengths more powerfully. Big data for hotels is a way to identify what these hotels do best and market those strengths more powerfully. Improving Occupancy Rates Using Big Data for Hotels. Time- and Location- Specific Marketing Campaigns.

Cancellation 68

Cancellation Hotels Upsell Email Marketing 68

Travelboom Marketing

MAY 24, 2024

With these insights, the hotel’s staffing, rate structuring, and marketing efforts can be more strategic, reducing wasted efforts, resources, and money. 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.

Revenue Management 52

Revenue Management Revenue Management Cost Per Click 52

Amadeus Hospitality

DECEMBER 3, 2024

The report highlights that hoteliers view increasing occupancy and improving operational efficiencies as key priorities, with 85% of hoteliers anticipating that personalization could help deliver over 5% in incremental revenue. decision-makers planning to invest in technology within the year.

Ancillary Revenue 52

Ancillary Revenue Upsell Revenue Shopping 52

Hotelier Magazine

MAY 4, 2023

Meanwhile, midweek occupancies aren’t looking as good as companies are loathed to give up the huge cost savings from the video-conferencing boom by returning to the days of overly generous corporate travel budgets. Or maybe your automated pre-arrival email-based upselling isn’t working, but SMS offers sent out three days prior are converting.

Revenue 59

Revenue Upsell Occupancy Business 59

SiteMinder

SEPTEMBER 6, 2023

Data collection From booking patterns to guest preferences, an online booking system captures a wealth of information that can be used for targeted marketing campaigns, personalised services, and operational improvements. This data-driven approach can give you a competitive edge in an increasingly crowded market.

Hotels 98

Hotels Revenue Occupancy Services 98

Little Hotelier

OCTOBER 17, 2023

Connect additional channels If you find on some days or weeks your occupancy is lower than you’d like, and not enough revenue is coming in as a result, you may not be reaching a big enough audience. You can market specific products and amenities to extended stay guests to motivate them to book with you.

Revenue 100

Revenue Hotels OTA Ancillary Revenue 100

SiteMinder

AUGUST 30, 2023

Here’s why they’re beneficial: Revenue diversification Hotel packages allow you to diversify your revenue streams by upselling various services and amenities. Competitive edge In a saturated market, hotel packages give you a competitive advantage. The bottom line here is to be creative.

Hotels 98

Hotels Services Revenue Business 98

Q4Launch

FEBRUARY 3, 2022

While these vacation planning stages may all sound drastically different on the surface, to a marketer, they all share one thing in common: They’re all part of the guest life cycle. Are you ready to take your hotel’s marketing to the next level? Get started with Q4Launch’s free Google Analytics Analysis.

Marketing Strategy 52

Marketing Strategy Upsell Occupancy Hotels 52