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

Hotelogix

AUGUST 27, 2024

This means using a mix of online and offline channels, like Online Travel Agents (OTAs), meta-search engines, direct bookings, reviews, Global Distribution Systems (GDS), and more. Using a mix of these channels helps hotels reach more customers, boost revenue, and manage room availability easily while competing in the market.  

Global Distribution System 52

Global Distribution System OTA Revenue Hotels 52

SiteMinder

MAY 21, 2023

Although the target market has since changed, what remains constant is the hotel’s standards and work ethic. With a two-way connection between the hotel and online travel agents (OTAs), the PMS automatically updates reservations made through any online booking channel.

Resorts 98

Resorts Overbooking Yield Management OTA 98

Cloudbeds

MARCH 15, 2023

Direct bookings are reservations guests confirm directly with a property without using an online travel agency (OTA) or 3rd party intermediary. Direct bookings are beneficial because they connect lodging businesses directly with potential customers and increase hotel revenue through money saved from OTA commissions.

OTA 98

OTA Revenue Travel Hotels 98

Cloudbeds

MAY 8, 2024

It also shows what type of guests are staying at your hotel and even what booking channels (direct, online travel agencies (OTAs), etc.) You will have a better understanding of who is your guest and the percentage you are selling to each segment (ideally per month) such as: direct bookings (transients etc), corporate, groups, long stay, OTAs.

Cancellation 52

Cancellation Revenue Occupancy Revenue Management 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

Cloudbeds

MARCH 20, 2023

What is hotel market segmentation? Hotel market segmentation is the process of grouping hotel guests into categories based on shared behavior and characteristics. It is a fundamental process of revenue management, but also brings benefits to marketing, operations, and the guest experience. Subdivide segments.

Hotel Marketing 52

Hotel Marketing Market Marketing Average Daily Rate 52

Catala Consulting

DECEMBER 28, 2023

By collecting and analysing data from various sources — including guest feedback, market trends, and operational metrics — hoteliers can make informed decisions that are more likely to result in improved guest experiences and operational efficiency. Why Catala Consulting’s Outsourced Revenue Management?

Management 52

Management Revenue Management Revenue Hotels 52

SiteMinder

AUGUST 1, 2024

This includes finding ways to differentiate yourself, targeting specific demographics, and pricing dynamically to boost your average daily rate and profit. Better revenue management With up-to-date market information and greater visibility, you can improve overall revenue management.

Shopping 52

Shopping Revenue Average Daily Rate Revenue Management 52

Cloudbeds

AUGUST 8, 2024

Whether you’re a revenue manager, accountant, front office manager, or hotel owner, you need real-time data and visualizations to understand what’s happening at any given time. With business intelligence, you have the knowledge to drive hotel operations, increase your revenue, and enhance your guest experience.

Business 40

Business Revenue Management Forecasting Revenue 40

Cloudbeds

MARCH 23, 2023

eCommerce sites include hotel websites and booking engines , online travel agencies (OTAs), metasearch engines , and other online platforms where hotels advertise and sell rooms. Develop a search engine marketing (SEM) strategy by exploring paid advertising options on Google, Facebook, and other social media sites.

OTA 98

OTA Digital Marketing Market Marketing 98

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. Implementing an RMS helps maximize revenue by adjusting rates dynamically.

Management 87

Management Overbooking Revenue Hotels 87

SiteMinder

JANUARY 8, 2024

Types of hotel management If we zoom in on accommodation management, it too can be divided into a few different categories, which reflect the broad range of tasks and challenges that hotel management presents. You’ll need smart revenue management and pricing strategies if you want to optimise your Average Daily Rate (ADR).

Operations 59

Operations Management OTA Hotels 59

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

SiteMinder

JANUARY 8, 2024

Types of hotel management If we zoom in on accommodation management, it too can be divided into a few different categories, which reflect the broad range of tasks and challenges that hotel management presents. You’ll need smart revenue management and pricing strategies if you want to optimise your Average Daily Rate (ADR).

Operations 52

Operations Management OTA Hotels 52

Xotels

JUNE 2, 2023

Balancing direct room sales with third-party websites and online travel agents (OTA’s) is one of the challenges the hotel industry faces in 2023 and beyond. While the ideal scenario is to handle everything independently, relying solely on your own revenue management and hotel marketing strategy may not be sufficient.

Marketing Strategy 40

Marketing Strategy Hotel Marketing Market Marketing 40

Hotelogix

OCTOBER 11, 2024

Hopper also integrates well with hotel property management systems (PMS) , allowing seamless inventory updates, rate management, and booking flows. Hoteliers using Hopper can leverage data to attract customers and optimize pricing, resulting in better revenue management.

Occupancy 52

Occupancy Hotels Travel Management 52

SiteMinder

AUGUST 29, 2023

It’s something to carefully consider and may come down to who your target market is. Find a use for under-utilised spaces If there is space in your hotel that is serving no purpose other than to create breathing room, consider using it for revenue purposes.

Revenue 52

Revenue Hotels OTA Operations 52

eZee Absolute

JANUARY 9, 2023

Use social media marketing. Leverage the power of OTAs. If you have been thinking of targeting this group of travelers, then here are some of the benefits you would love to learn about: 1. You can also turn to revenue management experts to create pricing strategies that bring in better profit. Explore new markets.

OTA 52

OTA Hotels Accommodation Travel 52

SiteMinder

OCTOBER 11, 2022

Cloud-based PMS solutions are a superior way to automate and accelerate all the important processes at your hotel including; Taking and confirming bookings, Managing reservations, Generating bills and reports, Check-in/out, Room transfers, Checking/editing availability, Guest communication. Manage your revenue.

Hotels 52

Hotels Management Revenue Management Revenue 52

SiteMinder

SEPTEMBER 4, 2024

If you find you’re running a hotel marketing campaign with high bounce rates, check that the landing page has relevance to your campaign, and that your audience segmentation is correct, as you may be delivering paid advertising or emails to the wrong people.

Hotels 52

Hotels Revenue Market Marketing 52

SiteMinder

DECEMBER 20, 2023

Execute wise revenue management One area in which technology can make you more efficient and effective is revenue management, by centralising and simplifying the collection and analysis of financial data.

Business 59

Business Hotels Management Revenue 59