SiteMinder

JULY 13, 2024

What is hotel revenue management? Hotel revenue management 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 revenue management?

Revenue Management 98

Revenue Management Revenue Management OTA 98

Xotels

APRIL 3, 2024

We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Catala Consulting

MAY 17, 2024

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.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

Hotel Speak

AUGUST 9, 2023

In the dynamic landscape of the hospitality industry, effective hotel revenue management stands as a cornerstone for optimizing profits. Understanding the Essence Hotel revenue management is a strategic process encompassing the precise pricing of hotel rooms to unlock their full revenue potential.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

Hotel Speak

OCTOBER 24, 2024

By allowing hotels to better understand and react to price elasticity in the market, the model is projected to increase RevPAR by up to 15% and boost occupancy rates by up to 10%, while maintaining efficient workflows with existing hotel staff. This level of decision intelligence simply hasn’t been available until now.”

Upsell 105

Upsell Hospitality Cancellation Forecasting 105

Travelboom Marketing

MAY 24, 2024

Hotel revenue management 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 revenue management strategies that work when you need to turn a profit.

Revenue Management 52

Revenue Management Revenue Management Cost Per Click 52

Hotel Business

APRIL 5, 2024

Additionally, they have employed clever, dynamic revenue management strategies to ensure their prices reflect the demand.” This will maximize their opportunities to upsell to today’s experience-led, deal-hungry travelers, thereby further increasing their revenue.” appeared first on hotelbusiness.com.

Occupancy 64

Occupancy Upsell Revenue Revenue Management 64

Xotels

APRIL 3, 2024

XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

STAAH

MAY 16, 2023

Hotel room pricing is a critical element of revenue management for hotels. Hotel managers and revenue managers use data analysis and revenue management tools to determine the optimal price for each room based on various factors such as occupancy rates, booking trends, and competitor rates.

Revenue Management 98

Revenue Management Occupancy Upsell Revenue 98

eZee Absolute

MAY 7, 2024

But hotel revenue management can be your secret wand. Revenue management 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.

Revenue Management 52

Revenue Management Revenue Management Upsell 52

Little Hotelier

FEBRUARY 25, 2024

What is revenue management consulting? Revenue management consulting is specialised expertise that a business can bring in to gain guidance on managing and optimising revenue. An investment in hotel revenue management services is therefore one that can quickly deliver an attributable return.

Revenue Management 52

Revenue Management Revenue Services Management 52

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

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

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 article explores the top trends in hotel revenue management, yield management, and revenue management in the UK, offering insights and strategies for hotel professionals.

Revenue Management 52

Revenue Management Revenue Management Market 52

STAAH

FEBRUARY 6, 2024

The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. 3) Pre-arrival upselling can beef up your overbooking strategy and make it more profitable. Let’s look at a few tips to make sure you get the most out of this approach.

Overbooking 105

Overbooking Cancellation Upsell Revenue 105

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. Managers can use it to budget, allocate resources, streamline inventory management, and improve the guest experience. This forward-looking data (e.g.,

Forecasting 75

Forecasting Revenue Management Occupancy Revenue 75

Hotel Speak

JANUARY 25, 2024

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. While parking spots and meeting rooms have played a huge role in this, 2024 will be the year that more hoteliers revolutionize revenue management.

Average Daily Rate 103

Average Daily Rate Revenue Travel Upsell 103

Xotels

APRIL 3, 2024

We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.

Revenue Management 40

Revenue Management Revenue Management Ancillary Revenue 40

Hotelogix

AUGUST 6, 2024

Here's a detailed guide on transforming your hotel's revenue management to focus on profit maximization. Maximizing Hotel Profit As a hotelier, you must adopt a holistic strategy that considers all revenue streams and cost factors to maximize profit. Read Also: What is Dynamic Pricing in Hotels?

Revenue 52

Revenue Management Upsell Target Marketing 52

STAAH

JANUARY 16, 2024

In this blog, we share some simple tactics and ideas that can boost your hotel’s revenue. 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. Optimise ancillary revenue.

Revenue 105

Revenue Ancillary Revenue Revenue Management Hotels 105

Hotel Speak

JULY 24, 2024

Effective hotel distribution strategies enable hotels to target the right audience, optimise occupancy rates, and enhance revenue management. Where hotels capture guest contact data they can offer a wide array of services before or upon arrival to offer upsell opportunities.

OTA 101

OTA Hotels Revenue Marketing 101

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

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

Hotelogix

FEBRUARY 27, 2025

Double bookings , incorrect charges, and missed upsell opportunities can result in revenue loss and negative guest reviews. By tracking occupancy trends, revenue forecasts, and guest preferences, hotels can fine-tune their marketing strategies and improve personalized guest experiences. Profitability hinges on efficiency.

Operations 40

Operations Services Hotels Revenue 40

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

Cloudbeds

APRIL 9, 2024

Moreover, the flexibility to enhance property performance with specialized add-ons allows for tailored optimization in key areas, including operations, revenue management, guest experience, and digital marketing. Upselling tools. Event Temple for venue management to facilitate efficient event coordination. Room controls.

Upsell 52

Upsell Revenue Management Operations Revenue 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.

Revenue Management 98

Revenue Management Hotels Revenue Operations 98

Cloudbeds

JANUARY 22, 2025

Financial analysis When EBITDAR is combined with other metrics, such as ADR (average daily rate), occupancy rate, or RevPAR (revenue per available room) , it can help dig deeper into financial metrics. 7 tips to improve EBITDAR As a profit metric, EBITDAR can be improved in two ways: increasing revenue and reducing costs.

Revenue 40

Revenue Hotels Operations Average Daily Rate 40

Cloudbeds

AUGUST 12, 2024

For example, if your RMS (revenue management system) is not integrated with your PMS, you may find yourself manually updating room rates, negating the efficiency gains these technology solutions are meant to provide. With a mass influx of point solutions targeted at solving specific problems (ie., Learn more 8.

Hotels 98

Hotels Operations Revenue Management Revenue 98

SiteMinder

SEPTEMBER 10, 2024

CPOR can be influenced by a number of factors and can often be a representation of how effective your revenue management and marketing strategies are. Lower your operating costs effortlessly with smart hotel technology Use SiteMinder’s platform to easily boost occupancy, maximise revenue, and create efficiencies for your business.

Revenue 52

Revenue Revenue Management Occupancy Hotels 52

Catala Consulting

JANUARY 21, 2025

Dynamic Pricing and Revenue Management AI tools are revolutionizing how hotels set room rates. AI-powered revenue management systems, like Duetto and Flyr Hospitality , analyze historical data, market trends, and competitor pricing to dynamically adjust rates in real-time.

Hospitality 52

Hospitality Services Operations Business 52

SiteMinder

OCTOBER 1, 2024

With real-time updates, housekeeping can adjust their schedules based on occupancy, reducing downtime and improving service quality. Dynamic pricing adjustments : Automation can analyse real-time data on occupancy, market demand, and competitor rates, allowing your hotel to adjust pricing dynamically.

Upsell 52

Upsell Revenue Revenue Management Hotels 52

Little Hotelier

OCTOBER 30, 2024

Revenue management integration For properties working with global distribution systems (GDS), a property management system and GDS integration can help maximise exposure. This tool helps automatically adjust room rates based on demand, competition, and occupancy.

OTA 59

OTA Motels Upsell Overbooking 59

SiteMinder

JULY 25, 2022

It’s a key metric for you to measure and track if you want to build an effective hotel revenue management strategy. By looking at ADR, you can easily start to strategise ways to boost your bookings and revenue. With higher occupancy, you have more chances to win revenue from guests during their stay.

Average Daily Rate 52

Average Daily Rate Upsell Occupancy Revenue 52

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. Monitoring market demand and adjusting discount pricing accordingly can help maximise occupancy and revenue. What is discount pricing?

Occupancy 59

Occupancy Events OTA Revenue 59

Inn Quest

MAY 11, 2023

By drawing in more visitors, raising occupancy rates and enhancing profitability, a thoughtful pricing strategy can help hotels maximize their revenue. Hotels can ensure they earn the most revenue from each of their properties by optimizing prices. Group Pricing: Another effective hotel pricing strategy is group pricing.

Revenue 88

Revenue Occupancy Hotels Marketing 88