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.

Budgeting 109
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
Insiders

Sign Up for our Newsletter

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

article thumbnail

How Ignoring Guest Segmentation Is Hurting Your Profits

Revenue Hub

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. Event-Driven Guests: Their needs are tied to specific events, such as conferences or weddings, which can dictate seasonal demand patterns.

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.

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

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

The biggest challenges facing revenue managers right now

STAAH

From effectively using the channel manager for distribution management to leveraging products such as Precium from Redsky that takes over from a skilled revenue manager to provide pricing recommendations based on analytics. Forecasting and budgeting. Demand and pricing. Want to predict the future?

Blog 98