Hotelogix

OCTOBER 4, 2024

In today’s competitive hospitality industry, managing bookings efficiently can make or break a hotel's success. For small and mid-size hotels, having the right OTA ( Online Travel Agencies ) channel manager is critical. What is a Channel Manager?  This prevents overbookings and reduces manual work.

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Hotelogix

JULY 11, 2024

From setting the right prices to attracting the right guests, every decision you make impacts your hotel's bottom line. In this blog, we will delve into different aspects of hotel revenue management and explore top tips and tricks to help you optimize your hotel’s revenue potential.

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Larry Mogelonsky

NOVEMBER 12, 2024

Up until now, the answer to this question was always the property management system (PMS). This is doubly true for budget, limited service, midscale or other categories where ‘heads in beds’ is the sole objective. Without properly administered rooms inventory, you have nothing. Now, however, I’m not so sure.

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Hotelogix

JULY 18, 2024

It is an essential practice for hoteliers and revenue managers to optimize pricing, maximize occupancy, and enhance overall profitability. Revenue managers utilize historical hotel performance data, current industry trends, and future demand to make informed projections to maximize revenue. What is Hotel Forecasting?

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InnQuest

MARCH 9, 2023

These services can include self-check-ins , inventory management, property management insights, reports, etc. Additionally, many cloud providers offer flexible pricing models, so you can choose the option that best fits your budget and requirements. The post Thinking of Switching to Cloud?

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Revenue Hub

OCTOBER 16, 2024

NB: This is an article from SiteMinder , one of our Expert Partners The best hotel tech stacks feature seamless integrations between various software solutions like your property management system ( PMS ), booking system , payment processor , channel manager and customer relationship management ( CRM ) system.

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InnQuest

SEPTEMBER 12, 2023

This includes advertising, promotions, pricing strategies and partnerships with travel agencies and online booking platforms. Human Resource Management: Managing the hotel’s workforce is essential. Technology Integration: Keeping up with rapidly evolving technology is another challenge in hotel operations management.

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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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InnQuest

FEBRUARY 1, 2023

With many businesses and individuals struggling financially, hotel managers must be mindful of their pricing and consider offering discounts and deals to attract budget-conscious guests. Hotel managers should also be aware of the latest economic trends and be prepared to adjust their strategies accordingly.

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Hotelogix

JANUARY 30, 2024

Additionally, it includes reports on no-shows, occupancy, market analysis, company contributions, business analysis, MIS, and a manager flash report with budget details for comprehensive analysis. Make informed decisions: Utilize hotel performance reports to refine pricing, promotions, and budget allocation strategies.

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SiteMinder

JULY 13, 2024

What is hotel revenue management? 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. Many businesses where consumers spend money have varying prices based on demand, supply and shifts in costs.

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Hotelogix

OCTOBER 18, 2023

  👉It offers real-time information about room availability, pricing, and amenities, allowing potential guests to make informed decisions and quickly secure their reservations. It allows them to browse available rooms, view pricing and amenities, and make real-time reservations through various channels.

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Hotelogix

SEPTEMBER 17, 2024

A simple platform will make managing bookings easier. Support : Check if the OTA provides good customer support and integrates well with your property management system (PMS). It is also known for offering affordable stays, which makes it ideal for budget-conscious travelers.

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InnQuest

AUGUST 15, 2023

Hotels face a daunting challenge as travelers seek convenience and competitive prices: how to efficiently manage their room inventory across multiple online distribution channels while maintaining real-time updates and avoiding overbooking. This is where a hotel channel manager comes into play.

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Hotelogix

SEPTEMBER 22, 2024

With an online resort management system, you can manage reservations, guest check-ins, and even payments in real-time. Financial Management and Revenue Optimization Keeping track of your finances is crucial for any small resort. This will ensure that your property gets enough visibility on the multiple channels.

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Hotelogix

FEBRUARY 1, 2024

High-end hotel management software or hotel property management systems (Hotel PSM) have a hefty price tag. For small hotels operating on tight budgets, these expenses can be prohibitive.   The challenges are multifold. There's the issue of cost.

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InnQuest

JULY 10, 2023

Benefits of Hotel Market Segmentation In today’s competitive environment, effective market segmentation recognizes that not all guests have the same needs, preferences or budgets, and that a one-size-fits-all approach is no longer effective. To learn about hotel pricing strategies to boost revenue in 2023, read this.

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SiteMinder

OCTOBER 7, 2024

The best hotel tech stacks feature seamless integrations between various software solutions like your property management system ( PMS ), booking system , payment processor , channel manager and customer relationship management ( CRM ) system. There are a number of dedicated tech solutions for multi-property management.

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Revenue Hub

JANUARY 11, 2024

Yes, yes, there are other search engines out there but the reality is that Google dominates when it comes to travel planning and can help your hotel get out in front even if you’re on a budget. Google Hotel Ads: If you have the budget, Google Hotel Ads can get you listed within the top four paid results.

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Revenue Hub

SEPTEMBER 12, 2023

Subscribe to our weekly newsletter and stay up to date By understanding the different types of guests a hotel attracts and tailoring pricing and marketing strategies accordingly, hotels can unlock significant revenue potential. Income level: Budget travelers, mid-range, luxury seekers, etc. Gender: Male, female, non-binary, etc.

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SiteMinder

OCTOBER 1, 2024

Dynamic pricing adjustments : Automation can analyse real-time data on occupancy, market demand, and competitor rates, allowing your hotel to adjust pricing dynamically. This ensures that your property remains competitive, optimising revenue without manual intervention. Watch demo What are the benefits of hotel automation?

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Revenue Hub

MARCH 19, 2024

Data integration Effective data integration is a critical component of a hotel BI solution as it allows for the consolidation of data from various sources such as your Property Management System (PMS) and Revenue Management System (RMS) into a single, unified view. Providing you with a single source of truth.

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Hotelogix

OCTOBER 19, 2023

To get a clear picture of your hotel compset analysis, you need to start with the following steps: Define your goals for competition, such as attracting more guests or increasing prices for greater revenue, or improving services compared to competitors. Identify your position as midscale, Budget, or Luxury and include similar properties.

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Hotelogix

OCTOBER 30, 2024

This is the time when they are most likely not aware of their destination or type of holiday (leisure, budget) they would want. Price, amenities, reviews, and the overall booking experience play a significant role here.  Here competitive pricing, ease of booking and an excellent user experience plays a critical part.

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STAAH

APRIL 10, 2023

It offers a wide range of travel services to its partners, enabling them to serve their customers efficiently, with the right pricing and inventory. Find out more here Be it luxury hotels, beach hotels or budget hotels, airasia hotels offers you over 500,000 hotels worldwide to choose from according to your needs and budget.

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Revenue Hub

OCTOBER 28, 2022

Pricing by on-the-books, checking-in no-show bookings, and countless rounds of reworking the budget—these are just some of a hotel and hospitality revenue manager’s worst nightmares. The pricing “Pontianak”. It’s also crucial (but often forgotten) to know the price sensitivity bands for each product.

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Hotelogix

OCTOBER 11, 2024

The financial impact of no-shows can lead to budget shortfalls and hinder long-term planning. This, in turn, affects pricing strategies and future bookings. Leverage Technology for Better Management Modern property management systems (PMS) can significantly enhance a hotel's ability to handle bookings and cancellations.

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SiteMinder

AUGUST 1, 2024

Budget and metrics: How much will you invest in marketing and how will you measure the effectiveness of your campaigns? Assess their pricing, services, marketing strategies, and customer reviews. Organisation description This section provides details about your hotel’s ownership structure, management team, and any key personnel.

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Revenue Hub

JUNE 26, 2024

Revenue management is about selling the right product, at the right time, to the right guest, at the right price, through the right distribution channel. This thorough analysis supports our forecasting, which is crucial for effective budgeting. We then set pricing and distribution strategies based on this information.

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Hotel Owner

FEBRUARY 21, 2024

We need the current Property Management System (PMS) architecture to evolve away from being focused on reporting in accordance with accounting principles (GAAP and/or USALI) in order to evaluate department heads and pay taxes. In a nutshell: Revenue Management 2.0 Is a competitor closed for refurbishment?

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InnQuest

OCTOBER 5, 2022

These platforms offer multiple benefits for the price paid, including marketing and exposure to global markets. Most of the time, a customer won’t indulge in direct hotel bookings via the website because hotels offer the same rooms at lower prices through OTAs. This phenomenon is popularly known as the billboard effect.

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Hotelogix

OCTOBER 18, 2023

Integration Capabilities: Many POS systems can be integrated with other hotel management systems, such as Property Management Systems (PMS) and Customer Relationship Management (CRM) platforms. Better Revenue Management: Accurate sales and revenue tracking through a POS system assists in effective revenue management.

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Xotels

APRIL 3, 2024

What Makes Hotels Suitable to Apply Revenue Management? What Does the Process of Revenue Management Look Like? Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? IKEA (offering lower prices at times when it is least busy).

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eZee Absolute

FEBRUARY 3, 2023

One way to achieve this is by utilizing an all-in-one solution that eliminates the need to use multiple systems and software to manage different aspects of the hotel’s operations. Integrated solution When we talk about property management systems, integration is one of the key elements that cannot be overlooked.

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Boutique Hotel News

APRIL 18, 2023

Yanolja Cloud is leading digital transformation around the world for properties with accommodations, food and beverage, residential, golf, and other leisure facilities. Or a channel manager to ensure their property has the widest reach of potential customers. Previously, hotel owners did that manually or simple tools were used.

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SiteMinder

AUGUST 27, 2024

The platform is user-friendly and integrates well with hotel management systems, making it easier for you to manage your listings and maximise your visibility. Agoda Agoda is particularly popular in the Asian market and is known for its focus on mobile bookings and competitive pricing.

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InnQuest

AUGUST 3, 2023

However, many visitors also come back because they believe the hotel’s price-to-value ratio is competitive. Power’s 2022 North America visitor satisfaction report , the pandemic has significantly accelerated the rise in guest expectations and loss in guest happiness across almost all hotel segments, from budget to luxury.

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