Hotelogix

AUGUST 6, 2024

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 revenue management to focus on profit maximization. Train your staff to identify and capitalize on upselling opportunities.

Revenue 52

Revenue Management Upsell Target Marketing 52

SiteMinder

JUNE 6, 2024

A quick search on the internet yields a wide range of definitions for ‘revenue management’. Some of these take a theoretical, almost academic approach and, in several instances, there are iterations of revenue management’s classic definition: ‘selling the right room, to the right guest, at the right time, for the right price’.

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Revenue Management Revenue Management Accommodation 98

STAAH

APRIL 23, 2024

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 revenue management.

Revenue Management 93

Revenue Management Revenue Ancillary Revenue Management 93

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 is essential for any hotel today.

Revenue Management 98

Revenue Management Revenue Management OTA 98

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

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.

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Revenue Management Revenue Management Cost Per Click 52

Cloudbeds

NOVEMBER 15, 2024

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?

Upsell 52

Upsell Occupancy Revenue Management Revenue 52

Hotel Speak

JANUARY 25, 2024

Nearly 20% of guests checked in online, and one in five hotels diversified revenue by monetizing spaces beyond hotel rooms. 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.

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Average Daily Rate Revenue Travel Upsell 83

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.

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Revenue Management Revenue Services Management 52

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.

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Revenue Management Revenue Management Ancillary Revenue 76

Little Hotelier

NOVEMBER 6, 2023

What is hotel revenue optimisation? As a small, independent hotelier you may have heard the terms hotel revenue optimisation and hotel revenue management. So what is revenue optimisation? Do all that and you’ll optimise your revenue by making as much money as possible from a limited resource: your rooms.

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Revenue Average Length of Stay Average Daily Rate Hotels 59

STAAH

JANUARY 16, 2024

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.

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Revenue Ancillary Revenue Revenue Management Hotels 88

Little Hotelier

OCTOBER 17, 2023

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.

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Revenue Hotels OTA Ancillary Revenue 100

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.

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Revenue Upsell Occupancy Business 59

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. A flourishing hotel that delights guests and exemplifies the power of innovative revenue management.

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Revenue Management Revenue Management Upsell 52

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

Inn Quest

MAY 11, 2023

However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world. The question is, how can hoteliers implement effective pricing strategies to boost their revenue and stay ahead of the competition?

Revenue 88

Revenue Occupancy Hotels Market 88

STAAH

OCTOBER 27, 2024

In STAAH, the Indian hospitality group found a sophisticated system to help manage room types and yield rules, and boost direct revenue by 30%. Daily deals, upselling, promos and a number of other in-built capabilities allow Chokhi Dhani revenue managers to drive demand based dynamic pricing decisions.

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Revenue Upsell Revenue Management Occupancy 90

STAAH

MAY 16, 2023

Setting the right price for your hotel rooms is crucial for driving revenue and maximizing profitability. Hotel room pricing is a critical element of revenue management for hotels. If you are new to Revenue management and would like to know more, read our in-depth ebook to help you understand better.

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Revenue Management Occupancy Upsell Revenue 90

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.

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Revenue Management Revenue Management Market 52

Little Hotelier

OCTOBER 30, 2024

In this article we’ll offer up a range of hotel activity examples, while breaking down why hotel activities are important, and how to offer them to guests in a way that generates more revenue. By upselling guests with paid activities as part of your custom booking process. It can generate revenue through ticket and drink sales.

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Upsell Events Revenue Hotels 52

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. Monthly additional bookable service revenue more than doubled YOY.

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Upsell Occupancy Revenue Consumer 59

SiteMinder

JUNE 12, 2024

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. Over time, these roles matured and transformed, giving birth to the modern-day revenue or reservations managers.

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Yield Management Management Revenue Management Revenue 98

Amadeus Hospitality

MAY 16, 2024

Several key themes emerged from the research, including a primary focus of investment on ‘improving operational efficiencies during times of high occupancy’ (43%). 85% of respondents felt that personalization could help them deliver in excess of 5% in incremental revenue.

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Upsell Revenue Hospitality Travel 130

STAAH

FEBRUARY 6, 2024

The hotel overbooking strategy is a revenue management 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. 2) Use multiple data sources. 4) Capping overbookings is essential.

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Overbooking Cancellation Upsell Revenue 93

Hotel Business

MAY 16, 2024

Several key themes emerged from the research, including a primary focus of investment on “improving operational efficiencies during times of high occupancy (43%).” Eighty-five percent of respondents felt that personalization could help them deliver in excess of 5% in incremental revenue.

Upsell 72

Upsell Revenue Occupancy Travel 72

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.

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Upsell Occupancy Travel Revenue 59

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.

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Upsell Revenue Revenue Management Hotels 52

Cloudbeds

OCTOBER 17, 2024

While you want them to choose your hotel (and ideally book through your website), you should also aim to maximize the performance of your booking channels to generate more revenue at lower acquisition costs. These include: Occupancy rate – which channels contribute most to occupancy?

OTA 76

OTA Occupancy Hotels Revenue 76

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. A lower CPOR means that you are generating more revenue per occupied room, which can lead to higher profit margins. What are variable costs per occupied room?

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Revenue Revenue Management Occupancy Hotels 52

Fuel Travel

JULY 11, 2024

It cuts out middlemen, ensuring the best rates for guests and higher hotel revenue. Properties still relying on phone or form bookings are losing revenue, especially amongst younger travelers who are less likely to reach out directly to the hotel. This allows you to optimize rates and sell relevant deals to boost revenue and occupancy.

Upsell 52

Upsell Overbooking Hotels OTA 52

Cloudbeds

SEPTEMBER 18, 2024

From understanding top-performing channels to finding new revenue opportunities to enhance the guest experience, data analytics touches every department. This data can then be used to make changes to improve revenue management, occupancy, guest experience, and operational efficiency. Revenue management KPIs.

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Operations Revenue Management Occupancy Revenue 40

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. By understanding and employing discount pricing strategically, hotels can maximise revenue, improve guest satisfaction, and enhance their overall brand image.

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Occupancy Events OTA Revenue 59

Xotels

JULY 26, 2024

As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. This can entice guests to book at a higher rate while also increasing your overall revenue.

Yield Management 52

Yield Management Upsell Revenue Hotels 52

Little Hotelier

NOVEMBER 20, 2023

Hotel CRM software can be an effective tool for improving your hotel’s reputation, revenue, and efficiency. In hospitality, guest satisfaction reigns supreme and hoteliers face the constant challenge of fostering lasting relationships and maximising revenue. Learn more 2. This will lead to more repeat visits and brand advocacy.

Upsell 59

Upsell Hotels Occupancy Revenue 59

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 52

OTA Motels Upsell Overbooking 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.

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Overbooking Occupancy Revenue Hotels 98