Remove Budgeting Remove Domestic Remove Pricing
article thumbnail

How to Manage Your Marketing Budget Effectively

Revenue Hub

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.

article thumbnail

The rise of staycations: how UK hotels can capitalise on domestic tourism

Hotel Owner

It is estimated that in 2021 alone, domestic travel accounted for 96% of the UK’s total travel and tourism expenditure while two years prior, in 2019, it represented 81% of the total expenditure. In 2023, the share of Britons taking a domestic summer holiday, or staycation, in the UK increased by 50% compared to the previous year.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Tourism trends: Domestic and international tourist market

SiteMinder

Meanwhile, understanding demand trends allows for dynamic pricing strategies, maximising occupancy and revenue during peak periods and stimulating demand when needed. When it comes to luxury vs budget travel , travellers are willing to spend more – where they see value.

article thumbnail

How To Select The Right OTAs For Your Hotel - A Comprehensive Guide

Hotelogix

This gives them a better idea of what fits their requirement and budget best. These platforms work like magic to spread the word about property, inventory, prices, offers, etc. This aids in getting maximum visibility and enhancing exposure to both domestic and international audiences.  Here’s a reality check!

Book 268
article thumbnail

Bank of England cuts interest rates to 4.75%

Hotel Owner

The BoE said the cut follows “continued progress in disinflation, particularly as previous external shocks have abated, although remaining domestic inflationary pressures are resolving more slowly”. The latest cut means interest rates are now at their lowest point in more than a year, as the last time rates were below 5% was June 2023.

Pricing 52
article thumbnail

Hotel Forecasting and Why It Is Crucial to Your Success

Revenue Hub

Macroeconomic variables: Including economic predictors, such as Gross Domestic Product (GDP), inflation rates, and unemployment rates, can boost forecast performance by capturing underlying causes of performance movements. Understanding these patterns allows hotels to optimize pricing and maximize revenue.

article thumbnail

Renewed calls from industry to freeze spirits tax

Hospitality Magazine

In August last year Australia’s spirits tax rose to over $100 per litre of alcohol and the bi-annual indexation continues to fuel inflation and cost of living pressures, having already risen in line with the Consumer Price Index (CPI) by a total of 12.5 Domestically it’s almost impossible to make a quid under these circumstances. “It

Budgeting 130