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7 tips to make your overbooking strategy a success in 2024

STAAH

Overbooking can be a cost-effective strategy if implemented correctly. What is a hotel overbooking strategy? The hotel overbooking strategy is a revenue management technique that hotels use to maximise occupancy and revenue. Tips to make your overbooking strategy a success 1) Be data-driven in your approach.

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The Future of Hospitality: Why Single-Solution Platforms Are Transforming Hotel Management

Hotel Speak

Tools like a channel manager software centralize room inventory and rates, ensuring consistent updates across platforms and preventing overbookings. Identify upselling opportunities to boost revenue. Simplified Distribution: Managing room inventory across multiple Online Travel Agencies (OTAs) can be complex.

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Hotel reservations manager: Job description and responsibilities

SiteMinder

For example, during peak travel periods, an efficient reservations manager using a modern property management system (PMS) can swiftly allocate room blocks for group bookings or special events, maximising occupancy without overbooking. Problem-solving : Quick thinking helps resolve booking issues and guest concerns.

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Ramada by Wyndham – Ahmedabad unlocks its online bookings potential with STAAH

STAAH

The Indian hotel no longer struggles with the aftermath of manual inventory and rate management, including overbookings and loss of staff efficiency. 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.

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Top 10 Revenue Management Tools: The Ultimate Revenue Toolkit

Xotels

Hotels can leverage CRM data to drive repeat bookings, upsell experiences, and build stronger guest relationships. That’s a recipe for overbookings and lost revenue. Automated Upselling & Ancillary Revenue Tools Have no clue on how to make extra revenue for your hotel? What Are Revenue Management Tools?

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Effective Hotel Sales Strategies to Increase Revenue

Hotelogix

You want to make sure your hotel is available where your guests are looking, but also avoid overbooking or confusion about prices across multiple channels. Upselling and Cross-Selling: Upsell Room Upgrades: Train your staff to offer room upgrades or premium amenities at check-in.

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Late bookings: Guide to last minute bookings for hotels

SiteMinder

There are several drawbacks to this approach… Preventing last minute overbookings Firstly, you may overbook your rooms. By synchronising room availability across all distribution channels, you eliminate the risk of overbooking. With your room now double-booked, you have to upgrade your guests or turn them away completely.