Catala Consulting

JULY 30, 2023

In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Why is Revenue Management Imperative for Resorts?

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Revenue Management Revenue Resorts Management 52

The Cosmos

JANUARY 23, 2023

Hotel revenue management is an important tool for hoteliers to use in order to maximize profits and remain competitive in a crowded industry, but it is a complex machine. This blog delves into hotel revenue management : what it is, how it works, and the critical role it plays in a hotel’s overall success.

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Hotel Business

SEPTEMBER 5, 2024

Whereas, Diamo will intensify its efforts in leveraging technology to make advanced revenue management strategies, along with high-return digital marketing tactics, accessible to independent lodging properties. Custom booking engine: A cohesive and upsell-focused booking platform that integrates seamlessly with the hotel’s brand. “The

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Revenue Management Digital Marketing OTA Revenue 59

Little Hotelier

OCTOBER 30, 2024

For example, if your PMS is integrated with a channel manager , the interface will ensure that when a room is booked through an OTA, your PMS updates automatically. Your PMS should simplify day-to-day tasks by connecting all your systems—whether it’s handling guest check-ins, updating pricing in real-time, or syncing with OTAs.

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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?

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Revenue Management Upsell Target Marketing 52

Cloudbeds

NOVEMBER 15, 2024

If there’s a sudden change, for example, an influx of last-minute bookings hits the system, the platform can enable revenue managers to adjust room rates dynamically to maximize revenue. Decision intelligence unifies the full range of pricing decision-making through both OTAs and direct bookings.

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Hotel Speak

JULY 24, 2024

Effective hotel distribution strategies enable hotels to target the right audience, optimise occupancy rates, and enhance revenue management. Hotels have worked with third parties such as airlines, travel agents, online travel agents (OTAs) and the Global Distribution System (GDS) for decades.

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Hotelogix

NOVEMBER 7, 2024

Maximize Direct Bookings to Reduce Dependence on OTAs When guests book through Online Travel Agents (OTAs) like Booking.com or Expedia, hotels often have to pay hefty commission fees, sometimes up to 20%. While OTAs help bring in new customers, relying too heavily on them can hurt your bottom line. front-page listing).

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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.

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Cloudbeds

OCTOBER 17, 2024

A hotel distribution strategy involves selecting and managing the different channels through which a hotel sells its rooms to potential guests. A basic strategy might involve listing your property on a few key online travel agencies (OTAs) like Airbnb and Booking.com and leaving it at that.

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OTA Occupancy Hotels Revenue 76

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.

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STAAH

OCTOBER 24, 2023

With 60% of visitors to Online Travel Agencies (OTAs) eventually checking out your website, the opportunity to secure commission-free direct bookings is substantial. Cost Savings: OTAs are marketing powerhouses, but they come at a cost. Revenue Maximization: More bookings mean more revenue. How do you do this?

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Cloudbeds

APRIL 8, 2024

Many hoteliers question if it’s worthwhile investing in a direct booking strategy or if they can solely rely on online travel agencies (OTAs) like Airbnb, Booking.com, or Trip.com to fill occupancy. Upsells and add-ons. If you rely too heavily on OTAs, you risk giving away your profit in commissions. Travelers crave experiences.

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OTA Upsell Average Length of Stay Revenue 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.

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OTA Revenue Travel Hotels 98

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.

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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. The Power of Experts Yield management can be complex, but you don’t have to go at it alone.

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SiteMinder

SEPTEMBER 19, 2022

This might include direct booking plug-in apps, such as Triptease, that reduce your reliance on OTAs by giving your booking engine greater functionality. Upselling – Any action you take at your hotel should benefit the guest first and foremost but if you can find ways to increase revenue too, all the better.

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Management Upsell Hotels Revenue 97

Fuel Travel

JULY 11, 2024

This information is sourced directly from the hotel’s property management system. If the hotel is using a revenue management platform, the specific rates are managed and optimized in either that system or in the PMS itself. Reduced Dependency on OTAs Create a more balanced distribution strategy.

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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. The Power of Experts Yield management can be complex, but you don’t have to go at it alone.

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Yield Management Upsell Revenue Hotels 52

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.

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SiteMinder

NOVEMBER 14, 2023

Let’s take a closer look at where these platforms shine: Increase room revenue As a Lodgify alternative, SiteMinder’s advanced revenue management tools and analytics provide hoteliers with actionable insights to make informed pricing decisions. SiteMinder’s booking engine is a testament to its expertise in this area.

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Cloudbeds

SEPTEMBER 18, 2024

For hotels, that involves collecting and analyzing data across various sources, including your hotel website, social media channels, online travel agencies (OTAs), surveys, and more. This data can then be used to make changes to improve revenue management, occupancy, guest experience, and operational efficiency.

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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.

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Revenue Management Hotels Operations Revenue 98

STAAH

NOVEMBER 15, 2022

In fact, OTAs such as Expedia have updated their algorithms to give preference to properties that have been called out by guests for their fantastic guest experience. Upselling & cross-selling is a great ways to drive up incremental revenue is also on the rise by smart hoteliers. Focus on customer experience.

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Little Hotelier

OCTOBER 17, 2023

Learn more Strategies to increase hotel revenue There are a lot of strategies that can be used to increase hotel revenue – but it’s important to be focused and committed to the plans you make. You can use a tactic known as the Billboard Effect to link your website to your OTA profiles, convincing guests to check you out.

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Revenue Hotels OTA Ancillary Revenue 100

Hotelogix

MAY 16, 2024

Ensure real-time OTA distribution with a Channel Manager OTAs are a significant source of bookings, and you must work with multiple OTAs to drive more indirect bookings. A channel manager automates and synchronizes your hotel's rates and inventory across all OTAs in real time.

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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. Metasearch advertising can be an effective way to reach these travelers, compete with OTAs, and generate direct bookings.

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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. OTAs OTAs are a double-edged sword. Upselling Discounts attract more guests, providing ample opportunities for upselling or cross-selling other services.

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SiteMinder

NOVEMBER 20, 2023

Eviivo is a UK-based software solution primarily known for its channel manager software. This tool offers a full two-way sync of rates, content, and availability, allowing hoteliers to manage their listings across various online travel agencies (OTAs) efficiently. It positions itself as a holistic hotel management solution.

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Catala Consulting

DECEMBER 28, 2023

Such as check-in kiosks, new upselling tools, a full new automated email campaign, … To further enhance guest experiences, hoteliers can experiment employing technology such as artificial intelligence and machine learning to predict guest preferences and personalize services. Why Catala Consulting’s Outsourced Revenue Management?

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Cloudbeds

JUNE 5, 2024

There used to be a time when hotel revenue managers simply had to look at predicted demand and keep an eye on competitors’ rates to optimize pricing. For revenue managers, that meant adding a new strategy (and a new skill) to their decision-making: reputation pricing. For them, the primary quality indicator was price.

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Clock Software Hospitality

NOVEMBER 3, 2020

Here are some of the ways in which hotel PMS solutions can aid a hotel in improving daily operations: Increase RevPAR via Direct Bookings Online travel agencies (OTAs) allow hoteliers unlimited access to a large pool of potential guests, charging a commission for every booking made through them.

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Cloudbeds

OCTOBER 21, 2024

Your revenue management system identifies that during the dates of the festival, there’s a spike in reservations and suggests that you increase room rates slightly during the festival period due to higher demand. Imagine your city hosts a yearly festival, and you’re determining how to price your rooms for the upcoming year.

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Cloudbeds

FEBRUARY 15, 2023

For example, if you found that your GAC for OTA bookings is 41%, whereas your GAC for direct bookings is 7%, where would you want to prioritize bookings? Not all distribution channels are made equal, the channels that generate the most profitability (revenue minus costs) should make up the majority of your channel mix.

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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. Why is ADR important in the hotel industry? ADR is a quick and effective method of measuring your hotel’s performance.

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Little Hotelier

NOVEMBER 5, 2024

Pricing and revenue management Dynamic pricing tools help you make the most out of your revenue. Upsells Automation can also help you offer extras to guests, like early check-ins, late check-outs, or services like airport transfers. If you’re wondering how to automate Airbnb messages, Little Hotelier can help with that.

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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? Upselling and cross-selling Grab upselling and cross-selling opportunities with both hands.

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