Revenue Hub

NOVEMBER 6, 2024

NB: This is an article from Profitroom Subscribe to our weekly newsletter and stay up to date Then you check your financials and… ouch. Find the sweet spot where OTA commissions and your marketing budget optimise overall revenue. You’ve just had a fantastic month. Where did all that revenue go?

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Revenue Hub

DECEMBER 5, 2024

NB: This is an article from Cloudbeds , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Accurate forecasting also benefits hotels’ bottom lines in other ways. Managers can use it to budget, allocate resources, streamline inventory management, and improve the guest experience.

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Revenue Hub

JANUARY 6, 2025

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date Instead of spreading your attention across many metrics, concentrating on a few KPIs ensures the hotel team aligns with the most critical business drivers. High commissions or excessive discounting might erode net profits.

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Revenue Hub

AUGUST 29, 2024

Managing marketing budgets effectively is crucial for any hotelier aiming to achieve sustainable growth in an increasingly competitive landscape. Here’s how to manage your hotel’s marketing budget effectively with these considerations in mind.

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Revenue Hub

SEPTEMBER 18, 2024

Budgeting in hotels is one of the core tasks of revenue management and plays a crucial role in managing operational and financial efficiency. The budget serves as the basis for financial planning, control, and decision-making. Theoretical Foundations of Hotel Budgeting A budget primarily serves to plan and control a company’s finances.

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Revenue Hub

NOVEMBER 25, 2024

NB: This is an article from Tripleseat Subscribe to our weekly newsletter and stay up to date With travelers in a spending mindset and evolving travel trends, hoteliers can tap into this lucrative season by embracing innovative strategies. These visuals can be a powerful tool to attract potential guests.

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Hotelogix

FEBRUARY 13, 2025

They have big budgets and entire teams dedicated to marketing, making it tough to stand out. This article offers simple ways to make your mark. Pricing feels like guesswork: Without data-driven insights, setting competitive and profitable room rates can be a daunting task. Competing with large hotel chains can feel overwhelming.

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Revenue Hub

NOVEMBER 30, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? NB: This is an article from Staah. The unprecedented volatility has made the task of budgeting for 2023 daunting. Opt for dynamic pricing. Heard of zero-based budgeting?

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Revenue Hub

FEBRUARY 15, 2024

The traditional budgeting approach is proving increasingly inadequate in today’s fast-paced and unpredictable market, where traveler behaviors, economic conditions, and competitive landscapes can shift in weeks. They can quickly pivot strategies in response to market fluctuations instead of remaining bound to an outdated budget.

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Revenue Hub

AUGUST 10, 2023

Budget concerns driven by rising inflation can affect leisure traveler’s plans – but the right strategy can help to ease those concerns. NB: This is an article from Travelboom What can the hotelier do to help soothe those pain points? While you can’t change your location, understanding the local pricing landscape is crucial.

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Revenue Hub

OCTOBER 9, 2024

As budget season draws near, selecting the right Revenue Management System (RMS) becomes one of the most crucial choices for hoteliers. It should provide real-time price optimization to adapt quickly to changing market conditions, all while being intuitive and user-friendly for staff across different departments.

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Revenue Hub

MARCH 15, 2024

Hoteliers and revenue managers rely on effective hotel price monitoring to optimize revenue and maximize profitability. By understanding market trends, demand patterns, and competitor pricing strategies, hoteliers can adjust their pricing strategies in real time to attract more guests and maintain a competitive edge in the industry.

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Revenue Hub

SEPTEMBER 5, 2023

Planning the budget for your hotel is crucial for financial success. NB: This is an article from Knowland But are you sure that your commercial team is following the latest hotel revenue management trends, like total revenue management and dynamic pricing, to optimize profits? Don’t worry, we’ve got you covered! Let’s dive in!

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Revenue Hub

OCTOBER 13, 2023

Planning a hotel budget is a critical task that ensures the smooth operation and financial health of your hotel. This guide will walk you through the essential steps, best practices, and expert advice to help you create a robust hotel budget. Without a budget, you risk financial instability and inefficiency.

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Revenue Hub

OCTOBER 2, 2023

NB: This is an article from Demand Calendar Whether they run luxurious resorts or small bed-and-breakfasts, hotel companies spend considerable time and effort creating annual budgets. Let’s start with the steps in budgeting for hotels. Is budgeting critical in hotels? This process is meticulous and time-consuming.

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Revenue Hub

APRIL 8, 2024

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date We need hoteliers to embrace innovative strategies that resonate with modern travelers, setting a new standard for hospitality excellence beyond competitive pricing.

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Revenue Hub

JULY 27, 2023

NB: This is an article from Demand Calendar One of the most pivotal decisions is setting the right price policy for hotel rooms. A hotel’s pricing strategy can be the difference between empty rooms and a bustling, thriving business.

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Revenue Hub

DECEMBER 19, 2024

Dynamic pricing tools use algorithms to recommend the ideal rates and the right time. NB: This is an article from Lighthouse Subscribe to our weekly newsletter and stay up to date Price optimization works by collecting and analyzing data from sources like competitor rates, seasonal trends and external events.

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Revenue Hub

FEBRUARY 15, 2024

It’s the price you charge for each room, and hoteliers often fret about setting it too high. In this blog post, we’ll delve deep into why you shouldn’t be afraid to push your room prices higher. The Price-Quality Paradox One of the surprising aspects of pricing is the price-quality paradox.

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Revenue Hub

JANUARY 14, 2025

NB: This is an article from Theresa Hajko , Regional Director of Revenue at Spire Hospitality Subscribe to our weekly newsletter and stay up to date Thinking outside the box can be beneficial in driving more guests to our hotels or capturing more revenue from the guests we already have.

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Revenue Hub

OCTOBER 10, 2024

NB: This is an article from Tripleseat Subscribe to our weekly newsletter and stay up to date Whether you’re hosting corporate events, weddings, or intimate gatherings, event minimums help ensure your venue’s costs are covered. Catering budget : A required minimum amount to be spent on catering to reserve the event space.

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Revenue Hub

JULY 31, 2024

The ongoing manual calculations and pricing updates across all your distribution channels are huge headaches to most hoteliers, especially if pricing isn’t your only responsibility at your property. How can you use data to improve your pricing strategy? Do they have shared price sensitivities?

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Revenue Hub

JUNE 25, 2024

NB: This is an article from Cloudbeds , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Additionally, if guests believe (based on reviews and ratings) that they will get more value from staying at your property, they’ll be willing to pay more for it. without harming its occupancy rates.

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Revenue Hub

OCTOBER 20, 2023

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. NB: This is an article from Hotstats What unique challenges are hotels facing in the 2024 budgeting and planning process? Pricing: Have We Reached a Ceiling? he wondered.

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LimeTray

FEBRUARY 9, 2025

The article below explores key features of restaurant POS systems, comparing top options like ere4u and LimeTray, along with their pricing factors. This enables you to make informed decisions on the fly, such as adjusting your menu, changing prices, or maximizing staffing levels. But heres the good news: things have changed.

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Revenue Hub

NOVEMBER 18, 2024

NB: This is an article from Engine Subscribe to our weekly newsletter and stay up to date The competition is fierce, the logistics are complex, and responding to RFPs can quickly become overwhelming. Offer a Discount on Your Best Available Rates Let’s start with the most influential factor in group bookings: competitive pricing.

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Revenue Hub

FEBRUARY 9, 2023

NB: This is an article from Expedia Group However, this demand outweighed supply as airlines struggled to secure enough staffing and planes to keep up. Travelers are upping their budgets as well, with 43% of consumers saying their budget for the next 12 months will be higher than last year.

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Revenue Hub

FEBRUARY 11, 2025

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date Whether running a budget-friendly property or a high-end hotel, settling for a one-size-fits-all approach is a surefire way to lose loyal customers and miss out on valuable upsell opportunities.

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Hotelogix

JANUARY 19, 2025

Standing out doesn’t require an enormous budget or complex tools, it requires the right strategy and the essentials like SEO to boost visibility, reviews to build trust, and technology to streamline operations. Unprofessional Photography: Dark, blurry, or poorly staged photos can deter even the most budget-conscious travelers.

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Revenue Hub

FEBRUARY 18, 2025

Without understanding which guest segments are most profitable, hotels target the wrong audiences, misallocate their marketing budgets, and miss critical opportunities to boost revenue and profit. Travel Agents: Can deliver niche market segments, particularly for specialized travel such as corporate or luxury tourism.

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Restaurant Engine

JULY 28, 2021

You want to price your daily dinner specials just right for repeat business. Yet, it can be hard to know where to go with pricing. In this article, we look at how to price daily dinner specials for the best results. The only way you can know how to price your specials is to create a costing card. The menu price.

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Revenue Hub

MARCH 21, 2023

Price elasticity is an essential KPI for any business, and the hotel industry is no exception. NB: This is an article from Lybra , one of our Expert Partners It measures the responsiveness of demand for a product or service to changes in its price. Seasonality This is another important factor that affects price elasticity.

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Revenue Hub

FEBRUARY 7, 2025

NB: This is an article from Cendyn Subscribe to our weekly newsletter and stay up to date The advancement of OTAs took the rug from under direct bookings, and yet today the ideal distribution mix according to hoteliers places two-thirds of bookings from direct channels. There are other reasons why OTAs arent going anywhere.

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Revenue Hub

MAY 2, 2023

NB: This is an article from Lybra , one of our Expert Partners A well-defined pricing strategy is vital for the success of any hotel business. Hotel pricing is a dynamic process influenced by various factors, including location, competition, customer preferences, and seasonality.

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Revenue Hub

NOVEMBER 7, 2022

One of the most important elements of an effective revenue management strategy is offering the right prices. NB: This is an article from Beonprice , one of our Expert Partners. Pricing can be based on cost, competition, or demand. This is what’s known as demand-based pricing. What is demand-based pricing in hotels?

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Revenue Hub

JULY 26, 2023

NB: This is an article from Global Asset Solutions Unlike other products that can be stored and sold later, the prices of hotel room nights often fluctuate based on supply and demand, with prices typically rising during peak seasons or when major events are happening and falling during slower periods.

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Revenue Hub

MARCH 31, 2025

NB: This is an article from ARO Digital Subscribe to our weekly newsletter and stay up to date But with the right digital strategy in place, its entirely possible to keep rooms full, drive direct bookings, and maximise revenue as you transition into the busier season. April and May are traditionally unpredictable months for hotel occupancy.

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