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7 tips to make your overbooking strategy a success in 2024

STAAH

Overbooking can be a cost-effective strategy if implemented correctly. What is a hotel overbooking strategy? The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. Tips to make your overbooking strategy a success 1) Be data-driven in your approach.

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Hotel reservations manager: Job description and responsibilities

SiteMinder

For example, during peak travel periods, an efficient reservations manager using a modern property management system (PMS) can swiftly allocate room blocks for group bookings or special events, maximising occupancy without overbooking. Efficiently managing OTAs and direct bookings is key to maintaining high occupancy rates.

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Effective Hotel Sales Strategies to Increase Revenue

Hotelogix

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. In the competitive world of hospitality, having a strong sales strategy is key to ensuring your hotel's success.

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Top 10 Revenue Management Tools: The Ultimate Revenue Toolkit

Xotels

Revenue management tools are software and systems that help hotels optimize pricing, control cost , maximize occupancy, and increase profitability. It monitors guest reservations, room occupancy, and overall performance metrics. That’s a recipe for overbookings and lost revenue. What Are Revenue Management Tools?

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How Hotel Reception Staff Influence Revenue Management

Catala Consulting

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.

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Revenue optimization: Full guide for hotels

SiteMinder

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. Better resource allocation: Revenue management helps hotels predict staffing needs based on anticipated occupancy levels.

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What is Yield Management: Guide for Hotels

SiteMinder

Learn more Yield management vs revenue management The goal of yield management is not merely to increase room rates or occupancy; rather, it’s to maximise your hotel’s revenue by forecasting your room supply and demand across a variety of key factors. This strategy aims to ensure maximum occupancy.