Horizon Hospitality

JULY 10, 2024

In the competitive world of hospitality, one of the most critical challenges of hotel professionals is balancing room rates with occupancy levels. Dynamic pricing, or yield management, involves adjusting room rates in real-time based on supply and demand, with the ultimate goal being to increase the Revenue Per Available Room ( RevPAR ).

Occupancy 52

Occupancy Revenue Yield Management Forecasting 52

SiteMinder

OCTOBER 26, 2023

Dallas, USA – Brittain Resorts & Hotels (BRH), a leading full-service hospitality management company, has adopted SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, as part of its newly-announced business intelligence technology matrix.

Revenue Management 81

Revenue Management Revenue Resorts Management 81

STAAH

APRIL 16, 2024

Hoteliers need to employ smart strategies to optimize revenue and profitability. One of the most powerful tools in their arsenal is a robust Revenue Management Solution (RMS). In the ever-evolving hospitality industry, staying competitive demands more than just offering great accommodations and service.

Revenue Management 83

Revenue Management Revenue Management Forecasting 83

STAAH

NOVEMBER 8, 2022

Like many other areas in travel and hospitality, revenue management has dramatically changed in the last two years. We spoke to leading revenue managers on what they think lies ahead. Revenue managers have had to up their ante on monitoring local trends and populace segments to get a better understanding of demand.

Revenue Management 75

Revenue Management Revenue Management Forecasting 75

STAAH

OCTOBER 15, 2024

Channel Manager Managing multiple distribution channels, from Online Travel Agents (OTAs) to direct bookings, can be complex without the right tools. A channel manager automates this process, syncing room rates and availability across all platforms, reducing the risk of overbookings or pricing discrepancies.

Operations 84

Operations OTA Overbooking Revenue 84

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

SiteMinder

JUNE 26, 2024

Revenue optimization vs revenue management In terms of definition and practice, there is a difference between revenue optimization and revenue management. Table of contents Why is hotel revenue optimization important? Included in this will be key metrics, forecasting models, and trending insights.

Revenue 72

Revenue Revenue Management Upsell Global Distribution System 72

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

STAAH

OCTOBER 15, 2024

Channel Manager Managing multiple distribution channels, from Online Travel Agents (OTAs) to direct bookings, can be complex without the right tools. A channel manager automates this process, syncing room rates and availability across all platforms, reducing the risk of overbookings or pricing discrepancies.

OTA 52

OTA Overbooking Revenue Management Revenue 52

STAAH

OCTOBER 15, 2023

STAAH channel manager solves connection priorities With already a plateful to manage; not to mention reduced staff post-Covid-19, the idea to automate room distribution and pricing management was a very attractive opportunity and something STAAH could easily manage.

Overbooking 87

Overbooking Occupancy Accommodation Resorts 87

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 is a pricing strategy that predicts customer demand and adjusts prices to maximize revenue.

Yield Management 88

Yield Management Management Occupancy Revenue 88

Little Hotelier

OCTOBER 30, 2024

Look for a system that automates key operations like updating room availability, managing bookings, and processing payments. This will save you from the hassle of manual updates and reduce the risk of overbookings or missed payments. This tool helps automatically adjust room rates based on demand, competition, and occupancy.

OTA 52

OTA Motels Upsell Overbooking 52

SiteMinder

MAY 21, 2023

Silavadee Pool Spa Resort emphasises that “since implementing SiteMinder, we have experienced a significant increase in online bookings, up to 60%, through effective yield management strategies based on market trends. This has minimised revenue loss from vacant rooms while maximising our occupancy rates.”

Resorts 98

Resorts Overbooking Yield Management OTA 98

eZee Absolute

OCTOBER 24, 2024

It’s a critical aspect of a hotel’s operations, as the effectiveness of this distribution directly impacts visibility, occupancy rates, and overall revenue. This real-time synchronization reduces the risk of overbookings and discrepancies, ensuring a seamless experience for both hotel and guest.

Hotels 52

Hotels Revenue Management Overbooking Revenue 52

Inn Quest

AUGUST 8, 2023

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. During peak seasons, when rooms are in high demand, higher rates can help control the rate of bookings, preventing overbooking scenarios.

Hotels 88

Hotels Occupancy Overbooking Revenue 88

SiteMinder

MARCH 20, 2024

We had to navigate through the extranets of each channel, often leading to overbooking or missed revenue opportunities,” she explained. Leveraging SiteMinder’s insights and pricing tools, the hotel swiftly adapted its strategies to capitalise on emerging opportunities, resulting in enhanced revenue and occupancy rates.

Revenue 98

Revenue Branding Overbooking Operations 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. Implement Dynamic Pricing for Optimal Revenue What is Dynamic Pricing?

Hotel Sales 52

Hotel Sales Revenue Sales OTA 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. Prices change dynamically (hence the name) using real-time data to maximize your revenue and occupancy rates.

Revenue 52

Revenue Revenue Management Occupancy Hotels 52

Hotel Speak

AUGUST 13, 2024

Therefore, ensuring it’s easy for guests to book, whether direct or through third parties, is paramount to fulfilling a successful occupancy strategy and higher Average Daily Rate (ADR) goal. Online visibility leads to occupancy. From searching to booking, guests are influenced by an average of 38 websites before making a reservation.

Revenue 86

Revenue Sales OTA Average Daily Rate 86

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

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? Your occupancy rate. Your total revenue. Table of contents.

Forecasting 52

Forecasting Revenue Average Daily Rate Average Length of Stay 52

Cloudbeds

APRIL 15, 2024

From checking in guests and entering reservations to managing rates and assigning rooms, many hotels still perform a lot of manual tasks. Oftentimes, these tasks overpower hotels’ ability to invest in proper guest communication, marketing activities, and revenue management , which significantly impacts performance and profitability.

Revenue Management 98

Revenue Management Hotels Operations Revenue 98

SiteMinder

OCTOBER 10, 2023

As unpredictable as it can be at times, especially after the COVID-19 pandemic, forecasting is still an important part of running a hotel and being able to make strategic revenue management decisions. Occupancy rate The occupancy rate indicates the percentage of rooms occupied over a specific period.

Forecasting 52

Forecasting Revenue Average Daily Rate Occupancy 52

Inn Quest

SEPTEMBER 12, 2023

Seasonal Demand and Revenue Management: Many hotels face seasonal fluctuations in demand, with peak periods followed by slower periods. Effective revenue management is crucial to optimize room rates, occupancy levels, and overall revenue. Consider partnering with local suppliers for fresh, unique offerings.

Operations 88

Operations Management Revenue Revenue Management 88

Hotelogix

FEBRUARY 13, 2024

  Online distribution Managing online distribution across various channels (OTAs, direct bookings, GDS) without an integrated system is arduous in today's digital age. Plus, it leads to complexities such as rate parity/inventory disparity, overbookings, and guest dissatisfaction. 

Management 59

Management Hotels Revenue Management Revenue 59

Cloudbeds

APRIL 2, 2024

A hotel central reservation system is a core software platform that manages all reservations for a hotel and provides a centralized repository of the inventory of rooms on sale and their characteristics (e.g., room types, maximum occupancy, stay restrictions, etc.), The revenue management system (RMS). Busy Rooms.

Revenue Management 52

Revenue Management Occupancy Revenue Hotels 52

Cloudbeds

FEBRUARY 28, 2024

The reservation system acts as the central hub of the reservation ecosystem, which may also include a website booking engine, channel manager, and revenue management system. When integrated, these modules work together to help hotels manage room availability, distribution, reservations, and revenue. Guestcentric.

Revenue Management 98

Revenue Management Revenue Hotels Operations 98

Fuel Travel

JULY 11, 2024

It cuts out middlemen, ensuring the best rates for guests and higher hotel revenue. It also prevents overbooking and keeps everything in sync, allowing guests to tailor their stay preferences and enhance their experience. This information is sourced directly from the hotel’s property management system.

Upsell 52

Upsell Overbooking Hotels OTA 52

SiteMinder

NOVEMBER 22, 2023

Hotel problems often revolve around managing guest expectations, maintaining operational efficiency, and ensuring financial profitability. Common issues include inconsistent customer service, challenges in managing online reputation, and fluctuating occupancy rates.

Overbooking 52

Overbooking Hotels Revenue Management 52

Little Hotelier

MARCH 10, 2024

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. This integration streamlines the management of bookings, guest information, and operational tasks, enhancing efficiency and data consistency.

Hotel Sales 52

Hotel Sales Sales Revenue Management Revenue 52

Hotel Speak

JULY 4, 2023

They can work with a hotel channel manager to ensure real-time distribution of rates and inventories across OTAs for better visibility, more sales, and zero overbookings. Large hotel groups can witness many benefits with Cloud-based Hotel PMS, more precisely, a Hotel PMS with multi-property management capabilities.

Hotels 52

Hotels Revenue Revenue Management Occupancy 52

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

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

Hotelogix

OCTOBER 24, 2024

  Without it, hotel staff would have to update each room's availability manually which could lead to errors such as overbookings. A CRS automates this process, ensuring smooth management of reservations. A CRS hotel system makes sure that all room inventory and pricing are updated in real time. 

OTA 52

OTA Revenue Hotels Global Distribution System 52

Hotelogix

AUGUST 27, 2024

They handle bookings and often increase your occupancy rates by giving your hotel more exposure. However, OTAs charge a commission, so it’s important to manage these costs carefully. Cons: Unpredictable Revenue: Walk-ins are hard to forecast, leading to fluctuating occupancy rates.

Global Distribution System 52

Global Distribution System OTA Revenue Hotels 52

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

Hotel Speak

JULY 24, 2024

Effective hotel distribution strategies enable hotels to target the right audience, optimise occupancy rates, and enhance revenue management. However, it’s essential to ensure availability and rates are accurate at all times, to prevent overbooking, or under- or over-pricing products.

OTA 78

OTA Hotels Revenue Revenue Management 78