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Hotel Forecasting- Methods, Reports & Software to use

Hotelogix

Revenue managers utilize historical hotel performance data, current industry trends, and future demand to make informed projections to maximize revenue. Importance of Hotel Forecasting Hoteliers use forecasting to anticipate and plan their operational needs, financial goals, and revenue management strategies. What is Hotel Forecasting?

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Mastering The Art of Resort Revenue Management

Revenue Hub

NB: This is an article from Catala Consulting This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. These forecasts are instrumental in strategic planning, enabling resorts to manage their resources effectively and maintain a consistent revenue stream all year round.

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The Ultimate Guide to Hotel SMS Marketing

Revenue Hub

This adaptability allows hotels to create messages that effectively resonate with various guest groups, enhancing the relevance and impact of their communication. Real-Time Feedback and Interaction: SMS marketing opens opportunities for immediate guest feedback and interaction.

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Why Should The Hotel General Manager Care About Forecasting?

Revenue Hub

Informed decision-making: Accurate forecasting provides insights into market trends, demand patterns, and financial performance, enabling you to make data-driven decisions about pricing, inventory management, and resource allocation that directly impact your ROI. What’s in it for the owner?

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

Hotelogix

Choosing the right OTAs to partner with requires research and strategic planning. This practice will help you make an informed decision while selecting the right OTAs for your hotel.  OTAs are now a great marketing resource for hotel owners, allowing them to reach a wider audience and optimize revenue.

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Hotel Budgeting for Change (Part 1)

Revenue Hub

When necessary, the Asset Manager can ask in advance to include separate marketing strategic plans specific for each F&B outlet, sale of Suite products, and/or the spa. Each plan should include S&M actions, deadline, cost and the ROI of each action and who is responsible for completing each action.

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10 Strategies to Skyrocket Profitability in City Hotels

Revenue Hub

Not only does it provide potential guests with necessary information, but it also offers a platform to highlight unique selling points. Harness the Power of a Revenue Management System (RMS) Investing in a robust RMS enables hotels to analyze vast amounts of data for informed decision-making.

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