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?

Pricing 89

Pricing Book Marketing Article 89

Revenue Hub

FEBRUARY 15, 2023

Attribute-based pricing is becoming an increasingly popular pricing model in the hotel industry. NB: This is an article from BEONx , one of our Expert Partners It enables property managers to establish a range of rates in line with the features and services that a guest is willing to pay for. What is attribute-based pricing?

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Guest Satisfaction Pricing Book Reservations 94

Revenue Hub

SEPTEMBER 18, 2024

One of the most pervasive myths is the belief that offering low prices will automatically lead to high occupancy rates. In fact, setting prices too low can have several detrimental effects on a hotel’s revenue, profitability, and overall brand perception.

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Pricing Article Events Marketing 86

Revenue Hub

OCTOBER 15, 2024

NB: This is an article from mirai , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Trying to shed some more light on this complex issue of “the impact of the DMA for hotels”, we expanded our research to: Analyze the attribution of all bookings and not only those coming from metasearch.

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Reservations Book Article Marketing 91

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.

Pricing 90

Pricing Book Marketing Article 90

Revenue Hub

OCTOBER 31, 2022

NB: This is an article from Beonprice , one of our Expert Partners. And this has led us to a fork in the road where, in order to remain competitive and relevant in the industry, hotels must develop new data-driven pricing strategies. Why are pricing strategies so important in the hotel industry?

Pricing 82

Pricing Reservations Article Marketing 82

Hotelogix

FEBRUARY 4, 2024

In this article, we'll take a closer look at the critical work areas and features of hotel management software you need to know about.   Reservation management: This feature allows you to manage all your reservations from a single dashboard. You can update prices, add new items, and manage inventory.

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Housekeeping Maintenance Reservations Accounting 147

InnQuest

OCTOBER 5, 2022

These platforms offer multiple benefits for the price paid, including marketing and exposure to global markets. This article dives into the importance of direct hotel bookings and shares expert tips to achieve the best results. However, before we proceed further, let’s be clear that booking sites and agencies aren’t a total loss.

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Book Pricing Reservations Information 217

Revenue Hub

JUNE 28, 2024

NB: This is an article from Revinate Subscribe to our weekly newsletter and stay up to date These legislations, effective from July 1, 2024, focus on cancellation policies and pricing transparency, respectively. Potential impact on hoteliers: Transparent pricing: Hotels must ensure their advertised rates include all mandatory fees.

Pricing 93

Pricing Book Reservations Article 93

Revenue Hub

NOVEMBER 4, 2024

NB: This is an article from D-Edge Subscribe to our weekly newsletter and stay up to date In the hospitality sector, the no-show rate for hotels is commonly between 1-5%, providing insight into the revenue lost by hoteliers each year. Read the full article at D-Edge The post How to Prevent Hotel No Shows and Last Minute Cancellations?

Book 89

Book Reservations Occupancy Management Pricing 89

Revenue Hub

APRIL 2, 2024

NB: This is an article from Lighthouse (formerly OTA Insight) Subscribe to our weekly newsletter and stay up to date Here are some of the key drivers you should be able to record and find in your PMS: Market segment – The category of the market, grouping of rate codes, to which the reservation belongs, such as transient, group, etc.

Reservations 92

Reservations Book Pricing Article 92

Revenue Hub

APRIL 29, 2024

NB: This is an article from RateGain Subscribe to our weekly newsletter and stay up to date It enables you to rapidly and concurrently update room availability and the most recent room pricing across numerous channels. Then, when rooms are reserved across multiple platforms, the pooled inventory can be updated.

Reservations 101

Reservations Book Article Pricing 101

Revenue Hub

SEPTEMBER 25, 2023

Running a hotel is a complex and balancing act: you want to ensure all your rooms are booked and your guests are happy, but how do you set the right prices to make this happen? NB: This is an article from eZee Absolute Well, that’s where “hotel rate types” come into play.

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Reservations Pricing Book Catering 95

Revenue Hub

SEPTEMBER 5, 2023

NB: This is an article from BEONx , one of our Expert Partners Effective management of room inventory can make or break a hotel’s reputation and bottom line. In this article, we’ll delve into the best practices that hotels can adopt to master the art of hotel room inventory management.

Pricing 97

Pricing Reservations Training Article 97

Revenue Hub

OCTOBER 24, 2024

NB: This is an article from Smartpricing , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date It gives you a strong base of reservations, allows for better inventory management, and helps tailor your services to meet the specific needs of guests.

Pricing 90

Pricing Article Book Marketing 90

Revenue Hub

DECEMBER 12, 2024

NB: This is an article from Topline Revenue , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Understanding the Cost of Unoccupied Rooms Before we get into the nuts and bolts, lets lay it out: when a guest cancels last minute or doesnt show up, its not just an inconvenience; its a direct hit to your bottom line.

Article 91

Article Pricing Reservations Book 91

Revenue Hub

OCTOBER 17, 2022

As a hotel revenue manager, one of your core functions is understanding and anticipating customer behaviour so that you can make the right strategic decisions and optimise your prices accordingly. NB: This is an article from Beonprice , one of our Expert Partners. However, it’s not always as simple as aiming for a longer lead time.

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Reservations Pricing Book Housekeeping 87

Revenue Hub

APRIL 24, 2023

NB: This is an article from Demand Calendar Of course, no specific percentage or amount represents the average revenue leak for the hotel industry, as it varies depending on factors like location, property size, and management efficiency. The hotel needs an RMS or a dynamic pricing tool integrated with the hotel PMS to minimize revenue leaks.

Reservations 87

Reservations Guest Satisfaction Pricing Article 87

Revenue Hub

SEPTEMBER 11, 2023

NB: This is an article from innQuest Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. It should provide real-time updates on room availability, reservations, and guest information.

Pricing 101

Pricing Guest Satisfaction Article Book 101

Modern Restaurant Management

JUNE 27, 2022

They may have discovered you from an Eater article, booked their reservation through OpenTable, or located you via Google Maps, and they will surely review their experience on Yelp — whether positive or negative — when their meal is complete. Restaurant customers do everything from their phones.

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Article Definition Customer Service Budgeting 203

Revenue Hub

NOVEMBER 18, 2024

NB: This is an article from Net Affinity Subscribe to our weekly newsletter and stay up to date With the majority of bookings now made online, ensuring your website provides a seamless, user-friendly experience is not just beneficial — it’s essential. appeared first on Revenue Hub.

Book 91

Book Reservations Article Accounting 91

Revenue Hub

OCTOBER 10, 2024

NB: This is an article from WebRezPro Subscribe to our weekly newsletter and stay up to date But like any good strategy, it only works when executed with precision. Your reservation and guest data holds the secrets to crafting packages that resonate with your guests.

Pricing 94

Pricing Article Book Reservations 94

Revenue Hub

NOVEMBER 26, 2024

NB: This is an article from 80 Days Subscribe to our weekly newsletter and stay up to date Visit the Rolls-Royce website and you won’t easily find specs and prices. They want to feel like what they’re buying – hotel room, dinner reservation, or another experience – is different and special. What you’ll find are stories.

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Article Reservations Pricing Information 103

Revenue Hub

DECEMBER 4, 2024

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date These tools enable teams to make data-driven decisions at every stage of the guest journey, ensuring that strategies align with market demands and guest expectations. Optimized Revenue: Securing reservations via the most profitable channels.

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Book Article Information Marketing 97

InnQuest

FEBRUARY 3, 2023

Even without COVID-19, profitability in the hotel industry is still a significant concern due to factors like: Increased dependence on web-based travel agencies The growth of tough competition Rising customer demands Sit tight, for you will learn some of the essentials for upselling in hotels in this article! What is Upselling?

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Book Reservations Communication Pricing 220

Revenue Hub

FEBRUARY 6, 2024

NB: This is an article from Little Hotelier , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Business groups often travel to a particular location for meetings or conferences, and may be interested in staying at your property. Group travel plays an important role in your revenue management strategy.

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Book Pricing Article Reservations 100

Revenue Hub

APRIL 9, 2024

NB: This is an article from Fuel Travel Subscribe to our weekly newsletter and stay up to date In addition, many hoteliers are broadening their scope beyond just RevPAR. One strategy for direct reservations in your booking engine is to include urgency messaging – such as the number of reservations made recently or time-based special offers.

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Book Reservations Article Marketing 99

Revenue Hub

JUNE 18, 2024

The Front Desk Manager in a hotel is pivotal in orchestrating the first and lasting impressions of guests, managing the reception team to ensure a seamless check-in and checkout process, handling reservations and addressing guest inquiries and concerns – always with the utmost professionalism. reservations, housekeeping, maintenance, etc.),

Guest Satisfaction 103

Guest Satisfaction Pricing Housekeeping Communication 103

Revenue Hub

JUNE 18, 2024

NB: This is an article from Demand Calendar While some hoteliers remain skeptical, clinging to their tried-and-true methods, a growing number recognize the power of data to unlock new insights and drive better decision-making. Upselling Opportunities: Spot potential to encourage guests to book higher-priced rooms or packages.

POS Systems 87

POS Systems Pricing Book Reservations 87

Revenue Hub

MARCH 13, 2024

NB: This is an article from Flyr for Hospitality , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date We spoke with Revenue Manager Alex Löw about how FLYR for Hospitality has helped revolutionise Tailormade’s pricing process. My pricing focus was never more than the next 14 days at each property. “We

Pricing 95

Pricing Article Catering Reservations 95

Revenue Hub

DECEMBER 5, 2024

NB: This is an article from BEONx , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date For hotels, this event presents an interesting dichotomy: it is a powerful tool to attract new customers and fill rooms, but it can also punish and cannibalize future sales. appeared first on Revenue Hub.

Book 94

Book Travel and Tourism Pricing Presentation 94

Revenue Hub

SEPTEMBER 25, 2023

Transient travellers, often referred to as “walk-in” guests or those without prior reservations, play a significant role in the hospitality industry. In this article, we will explore the effect of transient travellers on hotel revenue and strategies for capitalizing on this dynamic market segment.

Reservations 95

Reservations Book Article Pricing 95

Revenue Hub

AUGUST 24, 2023

Hoteliers and marketing executives in the hotel industry are faced with a multitude of challenges, including budgeting, marketing decisions, selecting appropriate distribution channels, and proper pricing. Revenue management should adjust prices according to demand and competition, ensuring an optimal price-performance ratio.

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Pricing Budgeting Article Reservations 85

Revenue Hub

DECEMBER 18, 2024

NB: This is an article from Mews Subscribe to our weekly newsletter and stay up to date When you book a flight, you don’t do so speculatively, knowing that you can cancel it without penalty a few days before departure. Paying at the point of reservation can provide a much better guest experience. At least, it shouldnt be.

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Reservations Article Book Pricing 71

Revenue Hub

FEBRUARY 1, 2024

You know, that magical timeframe we’ve all been told is the sweet spot for securing reservations. This ‘perfect’ window has dictated pricing strategies, inventory management, and even marketing campaigns. They’re driven by necessity or desire, making them less price-sensitive. Well, it’s time to shatter that myth.

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Book Reservations Pricing Article 87

Revenue Hub

SEPTEMBER 16, 2024

NB: This is an article from DerbySoft Subscribe to our weekly newsletter and stay up to date Today’s guests demand instant availability and pricing, whether on Google, Online Travel Agents (OTAs) like Expedia, or your independent hotel’s own website. In fact, the average independent hotel is listed on 5 to 7 different channels.

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Pricing Reservations Book Article 84

Revenue Hub

NOVEMBER 13, 2024

A capitalization rate, or cap rate, is a measure of the income return on an asset, such as hotel or rental property, relative to its purchase price. Normally” NOI is calculated using all income less all operating expenses but does not include costs for debt, depreciation, amortization, reserve for capital expense or income taxes.

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Pricing Article Reservations Information 82