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Ahh, budget season… a time every hotelier knows all too well. That’s the promise of automation and data-driven upselling, with hospitality platforms like Plusgrade transforming how hotels manage budgets and make decisions. Let’s look at how automation is turning budgeting from a yearly drag into a strategic opportunity.
Take your hotel operations to the cloud. That's because for hotels of all sizes — from boutique establishments to large hotel chains — cloud-based solutions like Hotel Property Management Systems (Hotel PMS) provide a pathway to reduce overhead costs while enhancing operational efficiency.
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My hotel is currently operating on a very tight budget, and I am struggling to get necessary system upgrades approved to ensure proper security measures are being met. Whether you’re managing a hotel or any […] The post Ask Anthony: Getting System Upgrades Approved on a Tight Budget appeared first on LODGING Magazine.
Online marketing helps hotels in establishing a brand identity, reaching out to millions of travelers and marketing rooms on a global platform. Limited budgets and resources : Budget constraint is the biggest problem faced by an independent hotel. Read: Does your hotel have enough reviews to get you views? )
The traditional P&L based on cost categories is not telling stories about what is going on in the business, nor does it help make any relevant decisions.
Setting an operating budget for the coming year can feel like a wild guessing game for hoteliers. Forecasts will alert you to future periods when your property isnt on track to meeting budget targets while theres still time to remedy the shortfall. Hit your targets: Ensure the property is on track to meet budget goals.
Red Planet Hotels shares news on "The First Real BudgetHotel" in the premier Uptown district in Bonifacio Global City, The Philippines. The prominent budgethotel chain also talks about their current hotel portfolio and other exciting firsts for the sector.
Radio Hotel, the first and only full-service boutique hotel in Washington Heights, announced Danielle Dymond as the new Hotel General Manager. As former Director of Sales & Marketing at Radio Hotel, Danielle will also oversee and execute hotel marketing strategies.
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Travelling across Italy from the seaside to the alps, before moving to the UK, Japan, and finally Australia, the chef has garnered experience across hotels, casual eateries, and Michelin-starred restaurants. The Puglia native has come a long way since then.
Fixed or dynamic hotel rates? NB: This is an article from CWT Subscribe to our weekly newsletter and stay up to date With the hotel sourcing season well underway, many corporate travel and procurement teams are likely trying to figure out which hotel pricing model makes the most sense for their programs. Which Rate Is Best?
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. Implementation: Once the budget has been created and approved, the implementation phase begins.
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NB: This is an article from gcommerce Subscribe to our weekly newsletter and stay up to date While on the surface, it may seem like it’s beneficial to always run more ads, offers, and campaigns than your competitors, a spray-and-pray approach will almost always bring worse results than an effective, controlled hotel ad campaign strategy.
Traditional budgeting has long been the standard for financial control in the hotel industry, but these budgets become irrelevant far too quickly. Rolling Forecasts: Adapting to Real-Time Changes Revenue is the primary driver of hotel profitability, and getting the forecast right is critical to maximizing profits.
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Let's dive deeper into the world of hotel turnover and explore how we can keep our star players on the team. Understanding Hotel Turnover Hotel turnover isn't just a fancy term for "people quitting" - it's a complex issue that can make or break your business. Key Factors Contributing to Hotel Turnover 1.
NB: This is an article from TCRM Subscribe to our weekly newsletter and stay up to date In hotels, it involves adjusting room rates based on real-time factors like demand, competition, and market conditions. Conversely, they can attract budget-conscious travelers during off-peak periods by offering lower rates.
NB: This is an article from RoomPriceGenie , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date These are crucial questions faced by independent hotels daily. However, if underutilized or mismanaged, it leads to lost bookings and underpriced rooms, cutting into the hotels revenue and profitability.
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.
From hotels and vacation rentals to holiday apartments, properties of all types rely on channel managers to simplify operations. A good hotel channel manager can make a huge difference for small properties too. A channel manager for vacation rentals might prioritize weekly bookings, while hotels need daily rate adjustments.
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Understanding future demand trends, their causes, and the guest segments driving them can help hotel revenue managers adjust room rates to boost occupancy and sales. Managers can use it to budget, allocate resources, streamline inventory management, and improve the guest experience.
Rostering staff in tourism and hospitality can be complex, due to the variety of working hours, shifts, award conditions and staff budgets The future belongs to those who recognize the transformative potential of rostering in elevating guest experiences, optimizing operational efficiency, and driving financial performance.
What makes guests choose one hotel over another even when the price and amenities are nearly the same? The answer lies in its branding which creates a unique identity that connects with guests, ensuring your hotel stays top-of-mind when they decide where to stay. Here’s why a well-crafted brand is essential for hotels: 1.1
As the holiday and winter seasons approach, hotels have a prime opportunity to attract guests and increase revenue through creative holiday hotel promotion strategies. Deck the Hotel Holiday decor is a must for creating a festive atmosphere that captivates guests and encourages spending.
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Hotelbudget season is upon us, and the hotel industry remains fixated on the usual concerns and challenges that are repeated throughout the year, such as the need for improved labor efficiency, strategies to reduce wasteful spending, technology to manage operations, and innovations to optimize revenue.
The luxury hotel market has continued to strengthen as guests have upgraded their choice of hotel, with occupancy of UK luxury hotels rising from 68.2% across budgethotels. across budgethotels. Mid market hotels in the UK saw room rates increase slightly from 133.03 for budgethotels.
Google Ads help the hotels to enhance their online presence, increase direct bookings , and boost visibility on search engines. This guide explains how Google Ads can help you get more bookings and stand out from other hotels. This guide explains how Google Ads can help you get more bookings and stand out from other hotels.
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It empowers informed decision-making, elevates operational efficiency, and guides budget plans. Without reliable data, hotel executives risk navigating blindly through an increasingly intricate and competitive landscape—a scenario that’s not only irksome but downright dangerous and commercially reckless.
In the competitive world of hospitality, having a strong sales strategy is key to ensuring your hotel's success. This blog outlines simple, actionable strategies that hotels of all sizes can use to grow their business, from direct bookings to pricing strategies and everything in between.
An event venue connected to a hotel in New York City struggled to capture market share. Campaign Research and Strategy Launched in March 2024, the campaign was designed to align with their limited marketing budget of $9,000 per year ($750 monthly). Cost-Per-Click (CPC): $1.32
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STAAH, a leading technology company helping hoteliers unlock their full revenue potential, has unveiled its list of distribution channels that brought the highest booking revenue to hotels across the Oceania region, including New Zealand, Australia and the Pacific Islands. Expedia and Agoda made gains, coming in at number two and number four.
The Best Neighbourhoods for Hotels in Glasgow Choosing the right area to stay in can make all the difference to your city break experience. Whether you prefer a luxury hotel or a more affordable option, the City Centre offers something for every budget. These establishments are perfect for those seeking comfort and elegance.
As a hotelier, you’re always looking for ways to attract more guests, boost bookings, and get the most out of your marketing budget. With endless options for online advertising, deciding where to focus your efforts and budget can feel overwhelming. Should you invest in Google Ads, social media, or else?
While the budget depletion column is not one of your standard columns, it is recommended as a key custom metric to focus on when optimising your Google ads campaigns. NB: This is an article from Up Hotel Agency Subscribe to our weekly newsletter and stay up to date What data does it represent? What are the consequences of this?
Ahh, budget season… a time every hotelier knows all too well. It’s that annual crunch when departments scramble to justify their numbers, and finance teams work around the clock, pulling their hair out trying to predict next year’s revenue.
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