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

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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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.

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Hotelier Magazine

MAY 4, 2023

Further, with operational costs going up, hotels must drive more revenue per guest (TRevPAR) through packaging, upselling and cross-selling of amenities. Or maybe your automated pre-arrival email-based upselling isn’t working, but SMS offers sent out three days prior are converting. But the benefits are long-lasting.

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Revenue Upsell Occupancy Business 59

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. The 400,000-plus smaller independents globally have been underserved by solutions that address the holistic revenue problem.

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Revenue Management Digital Marketing OTA Revenue 59

Bookassist

MARCH 8, 2022

And an airport hotel that added car parking, early check in, and antigen testing as highly targeted and well thought out Add-ons saw an additional 10% in total revenue! Add-ons – A powerful Direct Booking Benefit for bookers Hotels can use Add-ons to differentiate themselves from OTAs which only sell nights.

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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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STAAH

OCTOBER 18, 2022

From before they arrive and visit third-party sites or OTAs to look for accommodation or online reviews to your website, email communications and the actual stay – everything contributes towards guest experience. These communications become a fantastic opportunity to upsell your services. Clever ideas to improve guest experience. #1

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Revenue Upsell OTA Overbooking 87

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?

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Revenue Occupancy Hotels Marketing 88

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

STAAH

MARCH 17, 2024

This activity was time-consuming for the team and opened the door to issues such as unintentional overbooking or lost revenue due to delayed rate updates. Plus, there are no more uncomfortable conversations about rate parity with OTAs or revenue loss to manage due to clunky management. It also resulted in lost staff morale.

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Overbooking OTA Revenue Upsell 91

Hotelier Magazine

MARCH 11, 2024

By Adam and Larry Mogelonsky The core revenue stream for every hotel brand will always be heads in beds. With the OTAs, metasearch, short-term rentals and a litany of other travel resources, guests have near-endless optionality for accommodations.

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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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OTA Motels Upsell Overbooking 52

Hotelogix

OCTOBER 17, 2024

They minimize overbookings, streamline the reservation process, and drive revenue. Improve revenue  If hotels rely on manual bookings only, it can greatly reduce their ability to maximize revenue and deliver a smooth customer experience. If you're still managing bookings manually, it’s time to make the switch. 

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Upsell Revenue Hotels Overbooking 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. Why it’s important for hotels?

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Upsell Occupancy Revenue Management Revenue 52

SiteMinder

AUGUST 29, 2023

What is ancillary revenue? Ancillary revenue is when you earn income from additional services or products offered at your hotel. By offering these added touches, you’re not just boosting your revenue; you’re creating memorable experiences that make your hotel stand out. It’s a virtuous cycle.

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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. A specific OTA may help increase occupancy , but it might not actually be profitable for your hotel.

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OTA Occupancy Hotels Revenue 76

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. Here are a few ways a booking engine can help increase your revenue and profitability. Rate comparison widget.

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OTA Upsell Average Length of Stay Revenue 98

Hotel Business

DECEMBER 12, 2022

The data covers key hotel performance indicators such as occupancy, RevPAR, booking lead time, length of stay, international and domestic travel, direct and OTA bookings, as well as upsell performance to forecast trends shaping the hotel industry in 2023. Hotels are generating better revenue.

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Occupancy Ancillary Revenue Upsell Revenue 115

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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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

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

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. Save on Commissions and drive more revenue in your booking engine. How do you do this?

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OTA Revenue Upsell Marketing 82

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.

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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

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.

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Yield Management Upsell Revenue Hotels 52

SiteMinder

OCTOBER 15, 2023

They can also be known as distribution channels and are crucial for ensuring your hotel maintains a healthy occupancy rate and revenue stream. This blog will explain which channels are the most lucrative for your hotel and how you can maximise revenue using them. Here are five ways you can use booking channels to increase revenue: 1.

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Global Distribution System OTA Revenue Hotels 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.

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Yield Management Upsell Hotels Ancillary Revenue 59

Amadeus Hospitality

APRIL 23, 2024

In order to maximize revenue across the business, hoteliers should focus their budget on elevating the guest experience using advanced reservations, distribution, marketing, and data services. These assets can all be creatively worked into pricing and upselling strategies during the shop and book process.

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eZee Absolute

JANUARY 26, 2023

To reach such heights in terms of profit or revenue generation one needs to have immense knowledge of the hospitality industry and its marketplace. (As This is why every hotel owner puts a lot into serving its guests but only a few get an impressive revenue collection. Because it helps in upselling your services.

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Revenue Market Penetration Revenue Management Services 52

STAAH

AUGUST 29, 2023

Your target audience should define which channels you advertise on and which OTAs you partner with. Someone may get inspired by a friend’s social media post, while another begins the journey on an OTA or a search engine. Online Travel Agents OTAs are your billboards to acquire guests. Looking for a Hotel Booking Engine?

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OTA Email Marketing Marketing Strategy Market 88

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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SiteMinder

SEPTEMBER 19, 2022

With so much to think about as a modern hotelier, including how to respond to growing customer needs while maximising revenue and efficiency, you need to find solutions that make running a property much easier. The timing, tone, and regularity with which you upsell is the key to the success of your efforts.

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Management Upsell Hotels Revenue 97

Cloudbeds

SEPTEMBER 6, 2023

Integrated directly with the Cloudbeds Platform, Whistle for Cloudbeds gives properties the tools to drive incremental revenue, increase guest satisfaction, streamline internal operations, and deliver more meaningful contact and customized interactions throughout the entire guest journey from discovery to post-stay. 1 PMS, No.

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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. 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

SiteMinder

NOVEMBER 20, 2023

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. However, it’s worth noting that Eviivo sometimes discourages direct bookings, pushing instead for its own OTA, TopRooms.

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OTA Revenue Management Overbooking 59