Hotel Business

SEPTEMBER 11, 2024

Across revenue management, sales, marketing and loyalty, there’s a lot of excitement about this new opportunity,” he said. In terms of pricing, this room type sets a new high for ADR and contributes positively to overall yield management,” Rivett said. This room type is approximately 470 sq.

Yield Management 59

Yield Management Upsell Revenue Management Marketing 59

MediaBoom

AUGUST 1, 2024

Learn the secrets to driving more traffic to your luxury website, generating more leads, and ultimately increasing sales. You can also guide new leads through the sales funnel and maintain your ongoing customer relationships. Alternatively, you might try yield management, which is also flexible.

Tourism 94

Tourism Market Marketing Hospitality 94

SiteMinder

APRIL 25, 2024

The exact genesis of yield management (now revenue management) in the hospitality sector is hotly debated,” says Stuart-Hill. For one, Martin suggests establishing a dedicated role for a revenue manager rather than diluting their responsibilities across different functions. “A You need to have specialists.

Revenue Management 111

Revenue Management Revenue Management Hotels 111

eZee Absolute

OCTOBER 11, 2023

This advanced channel manager enabled the resort to efficiently distribute its inventory across multiple OTAs, ensuring maximum exposure. eZee Centrix empowered Sidus Galaxy Resort & Spa to streamline their operations and also ensure they sold rooms at the most competitive rates through intelligent yield management strategies.

Resorts 52

Resorts Management Sales Yield Management 52

Cloudbeds

FEBRUARY 28, 2024

A hotel reservation system is the central hub where reservation information is stored from all booking channels, whether by phone, OTA, GDS, sales department, or online booking engine. With a channel manager integrated with your reservation system, you can simultaneously update pricing and availability on all booking channels.

Revenue Management 98

Revenue Management Hotels Revenue Operations 98

Xotels

APRIL 3, 2024

Start increasing your revenue today by reading our all-in-one ultimate guide on what is revenue management from our expert perspective as a hotel revenue management consulting company. Article Summary: What is the Definition of Revenue Management? Why is Revenue Management Important to Hotels & Other Industries?

Revenue Management 52

Revenue Management Revenue Management Forecasting 52

Xotels

APRIL 3, 2024

Without a healthy distribution mix including a strong website and direct sales, you can forget about your profit margins. Understand your Hotel´s Market The success of your revenue management strategy depends on how well you understand your market. Have both on and- offline marketing/sales content available to entice group stays.

Revenue Management 76

Revenue Management Revenue Management Ancillary Revenue 76

SiteMinder

OCTOBER 9, 2022

The art is to maximise revenue with rate premiums when there is an abundance of demand and also set competitive and sustainable rates in the low season when market demand is more fiercely contested: in short, yield management. Revenue managers continuously solve an ever-changing puzzle, where occupancy and ADR are two key pieces.

Revenue Management 59

Revenue Management Revenue Management Occupancy 59

Catala Consulting

JULY 30, 2023

Resort revenue management has become an indispensable tool for businesses, fostering strategies that maximize yield and build strong customer relationships. The Cornerstones of Resort Revenue Management Resort revenue management , interchangeably used with yield management, revolves around a strategic pricing approach.

Revenue Management 52

Revenue Management Revenue Resorts Management 52

Cloudbeds

JULY 15, 2023

And even then, manually-managed distribution is risky: any delays in updating rates and availability on a channel’s extranet could mean selling a room that isn’t available or selling at a lower rate, which can lead to overbooking and sub-optimal yield management. There are no duplications or manual reconciliations required!

Management 76

Management OTA Cancellation Overbooking 76

Xotels

AUGUST 9, 2021

An extensive study by Mirai (Google free booking links impact; time for the numbers, 2021) showed that the share of these links is around “17% in clicks and 11% in sales,” and PhocusWire published similar results ( 10% ), making it appealing even for properties not interested in advertising on the platform to be listed organically.

Market Share 52

Market Share Hotels OTA Cancellation 52

Hotelogix

AUGUST 27, 2024

Utilize revenue management systems and tools to make data-driven pricing decisions and maximize revenue potential.    Yield Management: Apply yield management principles to allocate room inventory across different distribution channels strategically.

Global Distribution System 52

Global Distribution System OTA Revenue Hotels 52

Xotels

MAY 30, 2024

Hotel rooms are sold in a highly dynamic marketplace with many external factors impacting your daily sales results. But raising the rates by a certain percentage does not automatically get you to the desired result. Selling hotel rooms is not an exact science, and is impacted by many intangibles.

Revenue Management 49

Revenue Management Occupancy Revenue Average Daily Rate 49

Inn Quest

JUNE 8, 2023

To learn about the benefits of yield management in the hotel industry, read this. By using AI in the hospitality industry, managers can leverage advanced statistical techniques and machine learning to analyze data, external factors (e.g., weather, events) and market trends to predict future booking demands.

Hospitality 54

Hospitality Services Upsell Operations 54

SiteMinder

JANUARY 10, 2024

Sales and marketing hotel training: How can your staff help to bring more business in, beyond providing an excellent customer experience? Sales and marketing hotel training has the answers. We were able to increase RevPAR by more than 30% by executing yield management on the platform swiftly and accurately.”

Management 59

Management Hotels Services Business 59

Xotels

APRIL 3, 2024

Without a healthy distribution mix including a strong website and direct sales, you can forget about your profit margins. Understand your Hotels Market The success of your revenue management strategy depends on how well you understand your market. Have both on and- offline marketing/sales content available to entice group stays.

Revenue Management 40

Revenue Management Revenue Management Ancillary Revenue 40

SiteMinder

NOVEMBER 24, 2023

.” – Hometel revenue and distribution manager in the United Kingdom “I really like that the channel manager is in real time, maintains connections without errors, and provides me with an excellent, punctual, and precise tool for managing sales channels. The sales team and support team are professional and helpful.

Revenue 52

Revenue Revenue Management Management General Manager 52

Hotelogix

JANUARY 29, 2025

Channel manager integration : Keep Online Travel Agencies (OTAs) and your booking system in sync without effort. Point-of-sale (POS) integration : Handle all guest charges without a hitch. It acts as your always-on never-sleeping sales team! Yield management integration : Tweak rates based on current demand.

Management 58

Management Hospitality Hotels Services 58

Xotels

SEPTEMBER 13, 2024

For a hotel, a trend in revenue management means when looking at a hotel´s revenue over a certain time period – usually monthly, quarterly or yearly – a particular fluctuation or pattern will emerge. With a revenue trend analysis, this can be spotted in sales over time.

Revenue Management 40

Revenue Management Revenue Management Ancillary Revenue 40

Xotels

SEPTEMBER 13, 2024

For a hotel, a trend in revenue management means when looking at a hotel´s revenue over a certain time period – usually monthly, quarterly or yearly – a particular fluctuation or pattern will emerge. With a revenue trend analysis, this can be spotted in sales over time.

Revenue Management 40

Revenue Management Revenue Management Ancillary Revenue 40

SiteMinder

MAY 14, 2023

This limited our ability to implement sales strategies, and lost potential sales opportunities. It aids hotels in evaluating their overall revenue management approach. The management team saw this as a challenge. ” “Yes, their product had many functionalities, but none worked for our Thai customers.

Sales 97

Sales Revenue Yield Management Occupancy 97