SiteMinder

JUNE 12, 2024

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.

Yield Management 98

Yield Management Management Revenue Management Revenue 98

Hotelogix

AUGUST 6, 2024

Strategic marketing and distribution: Optimize your presence across all distribution/sales channels. Run targeted marketing campaigns to attract high-value guests. Make the best use of social media and content marketing. Increasing RevPAR Enhancing RevPAR requires advanced revenue management and targeted marketing.

Revenue 52

Revenue Management Upsell Target Marketing 52

SiteMinder

APRIL 11, 2024

Step 3: Implement targeted marketing campaigns to reach specific audiences Developing targeted marketing campaigns allows you to connect with specific segments of your potential guest base, tailoring your message to their unique preferences and needs.

Dining 98

Dining Hotels Average Daily Rate Target Marketing 98

SiteMinder

MAY 21, 2023

Although the target market has since changed, what remains constant is the hotel’s standards and work ethic. This has minimised revenue loss from vacant rooms while maximising our occupancy rates.”

Resorts 98

Resorts Overbooking Yield Management OTA 98

Hotelogix

SEPTEMBER 19, 2024

As the hospitality landscape evolves, knowing how to navigate these channels can significantly impact your occupancy rates and overall profitability. Additionally, direct bookings provide valuable customer data for targeted marketing and loyalty programs. Travel Agency vs Online Booking: Which is Better?

Travel 52

Travel OTA Target Marketing Occupancy 52

STAAH

OCTOBER 15, 2024

Hotels using this integration have reported reduced overbookings and better room occupancy rates. Revenue Management Software (RMS) Revenue Management Software (RMS) optimizes room pricing by analyzing market trends, competitor pricing, and demand patterns.

Operations 83

Operations OTA Overbooking Revenue 83

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

SiteMinder

AUGUST 1, 2024

Here’s what to include in your executive summary: Hotel concept: Briefly describe your hotel’s unique features, target market, and overall vision. Key goals: State your main objectives, such as increasing occupancy rates, boosting revenue, or expanding your hotel chain.

Business 52

Business Revenue Hotels Occupancy 52

Inn Quest

SEPTEMBER 5, 2023

Invest in a Revenue Management System (RMS): RMS software uses data analysis and algorithms to optimize room pricing based on demand, occupancy, market conditions, and competitor rates. This information enables personalized service and targeted marketing efforts, improving guest loyalty.

Management 87

Management Overbooking Revenue Hotels 87

Inn Quest

JULY 10, 2023

This informative blog delves into the world of hotel market segmentation strategy, exploring real-world tactics, methods and actionable tips to help connect hotels with their ideal guests. Continue reading to learn how to identify, analyze and reach your target market like a seasoned hotelier using our guide.

Hotel Marketing 52

Hotel Marketing Market Marketing Target Marketing 52

eZee Absolute

MAY 13, 2024

It provides a quick overview of key performance indicators (KPIs) such as occupancy rate, Average Daily Rate (ADR) , and Revenue per Available Room (RevPAR) for the previous day, week, month, or year (depending on the configuration). For example: A hotel’s booking pace report for the upcoming month falls short of the occupancy target.

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Little Hotelier

FEBRUARY 25, 2024

In terms of hotel revenue management consulting, this guidance usually takes the form of more effective pricing – identifying and setting room rates that are alluring to your target market and result in more bookings, while maximising the amount you earn from each booking.

Revenue Management 52

Revenue Management Revenue Services Management 52

Inn Quest

JUNE 13, 2023

Improve occupancy rates during the low season? Or enhance brand visibility in your target market? Craft a Compelling Message: Thereafter, to capture your audience’s attention, your hotel marketing campaign needs a compelling message. Do you want to increase bookings by a certain percentage?

Hotel Marketing 56

Hotel Marketing Market Marketing Digital Marketing 56

Hotelogix

JULY 11, 2024

By leveraging data and market insights, revenue management allows you to make informed and data-driven decisions to drive sales, occupancy, profitability, and sustainable growth. Additionally, implement targeted marketing campaigns to drive traffic to your direct booking channels, including hotel website and social media page. 

Revenue Management 52

Revenue Management Revenue Management Hotels 52

Hotelogix

OCTOBER 11, 2024

  Hopper is valuable for small to mid-sized hotels looking to increase visibility and occupancy without overspending on marketing. Hopper offers marketing exposure without the need for large ad spends, as its algorithms promote deals to users actively searching for accommodations. How does Hopper work for hotels ? 

Occupancy 52

Occupancy Hotels Travel Management 52

SiteMinder

AUGUST 1, 2024

Rate shopping your hotel competitor rates gives you the opportunity to: Optimise pricing: Understanding competitor pricing helps you set competitive rates, maximising revenue without sacrificing occupancy. Identify pricing gaps: You’ll be able to spot chances to increase rates without losing market share.

Shopping 52

Shopping Revenue Average Daily Rate Occupancy 52

SiteMinder

OCTOBER 10, 2022

The company is the recognised leader in hotel industry benchmarking and provides market data including supply and demand and market share information on a global scale. For example, STR data reveals that the average occupancy rate across US hotels in August 2022 was 66.5%, and the average daily rate was US$151.49. STAR summary.

Average Daily Rate 52

Average Daily Rate Occupancy Revenue Hotels 52

SiteMinder

OCTOBER 10, 2023

Adjusting prices accordingly can ensure maximised revenue during high-demand periods while maintaining occupancy during slower times. Price sensitivity Understanding price sensitivity within your target market can inform your cost based pricing strategy, helping to find the sweet spot that maximises revenue without deterring bookings.

Target Marketing 59

Target Marketing Revenue Yield Management Marketing 59

Cloudbeds

MAY 8, 2024

After reading this article, you will learn how an effective analysis of your property’s booking performance will help you better understand your property’s demand patterns and how to leverage them to maximize revenue and occupancy. Occupancy rate indicates the percentage of utilization of hotel rooms.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 52

Hotel Speak

JULY 19, 2024

especially if your comp set is trending ahead on occupancy on the books. All your competitors are now doing 95% occupancy with a good balance of transient and group. Balancing group and transient requires confident revenue management, targeted marketing, and managing risk. Your GM is going to ask “What’s going on?,”

Revenue 62

Revenue Management Revenue Management Average Daily Rate 62

Little Hotelier

AUGUST 29, 2023

By asking your followers to create social posts and blog entries for your brand, you will establish loyalty with your target market segment. Telling your story should be part of your B&B marketing strategy, as it allows you to capture the attention of your target market and encourages them to book directly with you.

Market 95

Market Marketing Target Marketing Marketing Strategy 95

Hotelogix

OCTOBER 4, 2024

Optimize Pricing: Some channel managers offer dynamic pricing tools to help you adjust rates based on demand, occupancy, and market conditions. Improve Occupancy Rates: If you’re focused on filling more rooms, choose a channel manager that offers real-time updates and dynamic pricing tools.

OTA 52

OTA Management Overbooking Revenue 52

MediaBoom

FEBRUARY 23, 2024

Studying Demographics Understand the demographic characteristics of luxury consumers, including age, income level, occupation, and geographic location. Analyze demographic data to identify key segments within the affluent customer market. Executives, entrepreneurs, and professionals are often part of the luxury consumer market.

Consumer 90

Consumer Branding Market Research Marketing 90

Little Hotelier

NOVEMBER 20, 2023

Boosted occupancy rates By understanding guest preferences and booking patterns, you can be more effective in how to market your property and price your rooms, resulting in higher occupancy rates.

Upsell 59

Upsell Hotels Occupancy Revenue 59

Cloudbeds

MARCH 15, 2023

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. These types of promotions are great for when you need to fill occupancy fast and should not be used all the time.

OTA 98

OTA Revenue Travel Sales 98

Xotels

AUGUST 15, 2022

In this particular case, the hotel’s management was under the impression the hotel was performing on target as the correct average rate per person was achieved. What new online marketing initiatives will we launch next year? How will we attract our different client target markets and niche guest segments.

Market 59

Market Marketing Hotels ROI 59

STAAH

OCTOBER 15, 2024

Hotels using this integration have reported reduced overbookings and better room occupancy rates. Revenue Management Software (RMS) Revenue Management Software (RMS) optimizes room pricing by analyzing market trends, competitor pricing, and demand patterns.

OTA 52

OTA Overbooking Revenue Management Revenue 52

Cloudbeds

APRIL 15, 2024

Depending on your property’s needs, you can leverage these different systems to manage distribution channels, ensuring real-time inventory management, dynamic pricing optimization, and targeted marketing initiatives. Reporting & data analytics Hoteliers collect vast amounts of data across multiple systems.

Revenue Management 98

Revenue Management Hotels Operations Revenue 98

SiteMinder

JULY 13, 2024

The best strategists do not set a static figure; timely and effective pricing strategies adjust rates in real-time based on current demand, ensuring that your property can maximise revenue during peak times and maintain or grow occupancy during quieter periods.

Revenue Management 98

Revenue Management Revenue Management OTA 98

Hotelogix

NOVEMBER 28, 2024

The system's channel manager integration ensures that room rates and availability are consistently updated across multiple distribution channels, enabling hotels to effectively reach their target markets. Successful hotel growth heavily relies on understanding and catering to distinct market segments.

Hotel Marketing 40

Hotel Marketing Market Marketing ROI 40

Cloudbeds

MARCH 20, 2023

Rather than depend on one or two booking channels, hotels can target market segments on multiple distribution channels such as OTAs, the GDS, and bed banks. Market segmentation plays an important role in a property’s revenue management strategy. Maintain a diverse distribution strategy.

Hotel Marketing 52

Hotel Marketing Market Marketing Average Daily Rate 52

Xotels

APRIL 3, 2024

Overbooking: although overbookings are often seen as a scary proposition, it’s an important strategy to maximise occupancy and achieve those elusive perfect fills. Revenue management starts by analysing the market and competition. and which pricing approaches are needed to reach those objectives.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

Little Hotelier

JULY 16, 2024

This means managing supply and demand to hit your desired occupancy rate while also maximising the revenue returns for your business. Think about what a healthy occupancy rate will look like for you, and also how much revenue and profit you want to aim for.

Management 52

Management Hotels Revenue OTA 52

Cloudbeds

MARCH 23, 2023

Develop a search engine marketing (SEM) strategy by exploring paid advertising options on Google, Facebook, and other social media sites. Choose the platforms that best meet your marketing objectives and budget. Narrow down audiences to key target markets and select the keywords that best fit your property type.

OTA 98

OTA Digital Marketing Market Marketing 98

Hotelogix

NOVEMBER 17, 2023

  Targeted marketing strategies and personalized guest experiences Today’s cloud-based Hotel PMS lets you access detailed guest data and helps you to know your customer segments, their likes and dislikes, and roll out targeted marketing campaigns.

Target Marketing 52

Target Marketing Hotels Cancellation Services 52

SiteMinder

JANUARY 8, 2024

A core aspect of hotel management includes managing your room inventory and reaching desired occupancy rates; however, you could also be ensuring that everything is in order for your guests or organising staff and cleaning schedules. This not only encourages repeat business but also helps your hotel keep a consistent occupancy rate.

Operations 59

Operations Management OTA Hotels 59

Cloudbeds

MARCH 3, 2023

With this information, you can improve your hotel’s offerings and implement targeted marketing efforts. It helps you verify a guests’ occupancy status and add restaurant charges to their room. Data tracking. A POS solution tracks valuable data, such as sales patterns and guest preferences. Expanded service.

Sales 98

Sales Hotels Revenue Services 98