InnQuest

APRIL 3, 2023

For instance, online booking systems, channel managers, and revenue management software can help you manage reservations, room rates, and availability across different channels. Utilizing cloud-based hotel management software can simplify room block management and provide real-time updates on room availability, bookings, and cancellations.

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Training Property Management Special Events Guest Satisfaction 222

Revenue Hub

SEPTEMBER 25, 2023

Talk to any hotel operator about empty rooms, and you’ll likely hear about price sensitivity. What if the relentless focus on price is causing more harm than good? If you think you know all there is to know about price sensitivity, prepare to think again.

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Pricing Travel and Tourism Special Events Article 109

Revenue Hub

NOVEMBER 15, 2023

In the good old days, hotel room pricing used to be simple. As a result, however, hotels were often under priced when travellers were willing to pay more and overpriced when travellers were price sensitive. Subscribe to our weekly newsletter and stay up to date Today, most hotels take a dynamic approach to pricing.

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Pricing Book Special Events Article 109

Revenue Hub

MARCH 26, 2025

The objective of this blog is to help property managers of all categories and sizes grow their direct booking channels, a job that typically falls on marketing. Event or occasion: What prompted the trip? A special wedding anniversary? Did they have someone else make the booking on their behalf? Took a tube/train/bus?

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Marketing Blog Book Special Events 70

Revenue Hub

JUNE 27, 2023

When hotels implement dynamic pricing, they are constantly adjusting their room rates based on mathematical algorithms aimed to increase occupancy based on area demand. The success or failure of price optimisation often depends on how the strategy is specifically implemented at an individual property. 2. Offer competitive rates.

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Pricing Book Special Events Maintenance 98

STAAH

NOVEMBER 26, 2024

A separate pathway to buy gift vouchers The path to buying gift vouchers is widely varied from a standard guest journey to your website to book a room. It is completely customisable to integrate with your brand and offers the ability to create multiple vouchers, set prices and manage sales and redemption from one place.

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Blog Special Events Catering Property Management 109

Hotelogix

JULY 11, 2024

From setting the right prices to attracting the right guests, every decision you make impacts your hotel's bottom line. Hotel revenue management involves strategically adjusting your hotel's pricing and availability to maximize revenue.   What is Revenue Management in Hotels?

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Pricing Download Book Budgeting 130

SiteMinder

MARCH 25, 2025

A hotel reservations manager oversees the entire booking process at a hotel. This includes handling inquiries, managing bookings, confirming reservations, and resolving issues or discrepancies. While the general manager oversees all hotel operations, a reservations manager focuses specifically on the booking process.

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Reservations Housekeeping Guest Satisfaction Book 52

Revenue Hub

MAY 3, 2024

In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. Sources predict that hotels’ pricing power will remain strong. Of course nobody was booking.

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Marketing Pricing Special Events Book 109

Revenue Hub

MARCH 27, 2024

NB: This is an article from Little Hotelier , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Once your hotel has an idea of demand, you can make tweaks to your room and service prices that help maximise revenue and occupancy. Customise and optimise pricing strategies based on demand.

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Pricing Special Events Book Article 109

Modern Restaurant Management

AUGUST 2, 2024

Another 25 percent said they were investing in special events and one-off promotions, and 24 percent said they were prioritizing takeout and delivery operations. As a result, they are making hard decisions to adjust prices and make menu changes. Thirty-seven percent said they’re expanding catering operations.

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Pricing Training Marketing Book 100

7 Shifts

NOVEMBER 15, 2024

How do you prepare your team for special events or holiday rushes? As a restaurant manager, how do you prepare your team for special events or holiday rushes? For example, they could increase staff for a special event so that there are enough employees to handle larger crowds without sacrificing service quality.

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Communication Server Special Events Training 78

SiteMinder

OCTOBER 10, 2023

What is discount pricing? Discount pricing is a revenue management strategy where prices are lowered temporarily or for certain conditions to attract guests and boost occupancy rates. By offering discounted prices, hotels aim to increase demand, especially during off-peak periods, without compromising on profitability.

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Pricing Guest Satisfaction Book Events 59

Revenue Hub

SEPTEMBER 5, 2023

Leveraging historical data, market trends, and special events, hotels can predict periods of high and low demand. This allows them to adjust pricing strategies, allocate rooms accordingly, and maximize revenue during peak seasons while avoiding vacancies during off-peak periods.

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Pricing Reservations Training Article 109

Revenue Hub

JULY 24, 2023

The worst part is if hotels at the destination start a price war to attract more guests, the results will be lower revenue for all, and no additional guests will travel to the destination because the hotel rooms are cheap. Early Booking Incentives : Encourage guests to book their stays early by offering discounts.

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Maintenance Travel and Tourism Special Events Pricing 98

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. The main goal is to sell the right product to the right customer at the right time for the right price.

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Pricing Book Reservations Events 98

Hotelogix

OCTOBER 11, 2024

A no-show in the hotel industry occurs when a guest makes a reservation but fails to show up or cancel their booking in advance. Booking Mistakes: Sometimes, guests might accidentally double-book or forget about their reservation. Seasonal Influences: Holidays and special events can impact travel plans.

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Reservations Guest Satisfaction Communication Book 130

Revenue Hub

JUNE 13, 2023

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners One component is “dynamic pricing.” ” You’re familiar with this model when considering your rack rate vs. your bottom prices. First, consider your hotel has a pricing path. What are the bottom and starting prices?

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Pricing Book Events Article 52

Revenue Hub

JANUARY 9, 2024

A hotel demand forecast is a projection of demand (for rooms or other outlets like meeting space) that is used by revenue leaders to guide strategies for demand generation, pricing, inventory controls, segment mix and more. A demand forecast is an essential guiding force for hotel revenue success.

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Special Events Book Information Article 97

Revenue Hub

JULY 10, 2023

By identifying where the business is coming from and what motivates guests to complete a purchase, you can better define effective pricing strategies and target your offer to meet their needs. Transient Transient travelers are FITs or business travelers who typically book last minute directly through the hotel, travel agent, or an OTA.

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Marketing Special Events Book Article 98

SiteMinder

OCTOBER 15, 2023

What is hotel dynamic pricing? Dynamic pricing is a pricing strategy for hotels that involves changing room rates daily, or even within the day based on real-time market conditions. Taking supply and demand into account, dynamic pricing allows for prices to fluctuate regularly so the hotel can maximise revenue.

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Pricing Definition Book Marketing 59

Revenue Hub

AUGUST 20, 2024

Your location, primary types of travelers, and the season of the year all play into profitable pricing strategies. Without it, your guests won’t find you, and you’ll struggle with low bookings. Corporate rates Should you negotiate corporate rates at static rates or a dynamic pricing approach? Are the terms favorable to you?

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Pricing Book Article Events 104

Revenue Hub

FEBRUARY 20, 2023

How do you increase your profits even as prices remain high and the future remains unknown and uncertain? According to research conducted by Google and Bain , the top factors influencing people to travel include the following: 17% of travelers felt motivated to book a trip because they often thought about trips they’d like to go on.

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Special Events Article Book Pricing 98

Revenue Hub

OCTOBER 23, 2023

Big Data’s Role in Mitigating the Hotel Industry’s Top Three Risks The first and biggest risk is opportunity cost, or leaving money on the table by not accurately pricing inventory – and that can be in either direction. Another risk is conflating channel complexity with pricing complexity.

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Pricing Book Reservations Property Management 103

SiteMinder

JULY 13, 2024

Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. Optimal strategies and techniques are dynamic, based on the understanding that hotel pricing is fluid and can change from one day to the next.

Pricing 98

Pricing Book Budgeting Marketing 98

Modern Restaurant Management

DECEMBER 10, 2021

Instead of promoting items according to price or margin, promote what your customers love. Book in advance, or wait half an hour for a table. Once you have this information, you can reach out to customers a week before the special day and invite them to celebrate their special day at your restaurant. Net result?

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Marketing Information POS Systems Demo 226

Revenue Hub

JULY 11, 2023

Subscribe to our weekly newsletter and stay up to date Demystifying Revenue Management At its heart, revenue management is a strategic toolkit in the hotel industry that allows businesses to forecast consumer behavior, optimize product availability, and fine-tune pricing to maximize revenue growth.

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Pricing Book Article Events 75

SiteMinder

AUGUST 1, 2024

Hoteliers use rate shopping to benchmark against other properties, optimise pricing decisions, and find opportunities to maximise revenue and profitability. Today’s market demands the adoption of dynamic pricing and hotels now regularly change rates daily or even multiple times in a given day.

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Pricing Book Blog Marketing 78

Revenue Hub

APRIL 11, 2023

One example is when a front desk employee receives an inquiry for a hotel room that is fully booked; the employee will tell the guest that the hotel is fully booked and then do nothing else. It is even worse in hotels with extensive meeting spaces when employees tell the customer that the hotel is fully booked.

Book 97

Book Information Reservations Catering 97

Revenue Hub

OCTOBER 30, 2023

The fear: There will be no transparency If you’re a revenue manager (RM) and your automated RMS has next week’s prices set significantly higher than your closest competitors, odds are strong you’ll have some explaining to do with your GM or the owner. It’s not just one tool or one person doing the pricing. The end result?

Pricing 108

Pricing Special Events Article Book 108

Revenue Hub

OCTOBER 17, 2023

The focus is on variable demand tied to market crises, short term booking windows, which are focused on guest spend and dynamic optimization embracing rate flexibility. This time we booked the room online, checking the brand rates as well and were satisfied we found a reasonable rate with the expectation of a high-quality experience.

Pricing 109

Pricing Marketing Training Book 109

Revenue Hub

OCTOBER 28, 2022

Filling up as many rooms as possible with the most optimized pricing for each room has always been the main focus of the traditional hotelier. “Compared to business travelers, leisure travelers want more guidance for the booking process and more information about the destination. . NB: This is an article from Agilysys.

Special Events 97

Special Events Book Information Reservations 97

Revenue Hub

AUGUST 22, 2023

Filling up as many rooms as possible with the most optimized pricing for each room has always been the main focus of the traditional hotelier. “Compared to business travelers, leisure travelers want more guidance for the booking process and more information about the destination. .

Special Events 96

Special Events Book Information Reservations 96

Revenue Hub

OCTOBER 28, 2022

Although occupancy rates and room revenues projection are now approaching 2019 levels, the outlook for ancillary revenue is expected to lag behind due to business travel, meetings, and a slower return of group bookings. Design a section of the website to display offerings and create booking links with photography for a more visual appeal.

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Reservations Book Catering Special Events 96

7 Shifts

JULY 29, 2021

Announcements in the Team Communication App may let the team know when there's a new coffee release, if there are any pricing menu changes and more. The Manager's Book. “We make all kinds of [all-team] announcements and it's so nice to be able to get to everybody in the company,” says Kildron.

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Scheduling Communication Training Special Events 148

Hotel Owner

NOVEMBER 24, 2022

I started as a porter in South Africa, which was followed by concierge roles doing a lot of special events and special projects, such as million-dollar golf. One of them is Miyako, an authentic Japanese restaurant that has street pricing and only seats 26. I, like most people, stumbled into this industry by accident.

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Training Concierge Special Events Housekeeping 102

Hotel Business

SEPTEMBER 15, 2023

For an effective pricing strategy, you should look to determine your offerings, including: Variety of rates Discounts Your loyalty program offerings Upsell opportunities Slow periods are an excellent time to understand price fences such as advanced purchase, deposit or cancellation policies, as these can be flexed over time.

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Special Events Pricing Accounting Events 64