Revenue Hub

APRIL 17, 2023

NB: This is an article from Demand Calendar The main reason for forecasting is not competition in accuracy; it is to use the forecasts for planning to achieve a healthy profit. As the hotel owner focused on maximizing the return on investment (ROI), forecasting is critical in helping you achieve your goals in several ways.

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Strategic Planning Guest Satisfaction Pricing Information 97

Revenue Hub

OCTOBER 8, 2024

Hotel forecasting plays a vital role in strategic decision-making, shaping both the short and long-term success of a property or portfolio. Expert opinions : Engages insights from hotel management and operational staff to understand local market dynamics. This is important for factoring customer behavior and emerging trends.

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Strategic Planning Revenue Projections Article Information 109

Revenue Hub

MAY 10, 2024

NB: This is an article from Tripleseat Subscribe to our weekly newsletter and stay up to date Here’s a closer look at how to define your competitor set and leverage this knowledge to strategize to become the top hotel choice. This concept is crucial for strategic planning and operational adjustments in the hospitality industry.

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Revenue Hub

DECEMBER 13, 2023

What is the key to enhancing your hotel or lodging business’s revenue? Enhancing pricing flexibility and profitability as guests are willing to pay more for bespoke services. 2) Harnessing Technology for Revenue Growth Technological integration is a game-changer in increasing hotel revenue.

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Pricing Book Strategic Planning Information 109

Hotelogix

SEPTEMBER 12, 2024

What is Hotel PMS? A Hotel Property Management System (Hotel PMS) is software that helps hotels efficiently organize, schedule, and manage their daily operations. Also known as hotel software, it functions as the nerve centre of hotel operations, facilitating a smooth flow of interdepartmental information.

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Revenue Hub

SEPTEMBER 23, 2024

While all hotels have a General Manager (GM) and a Revenue Manager (RM) to oversee operations and profitability, few have a dedicated Guest Experience Manager. NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date The role is vital, but many hotels assume department heads will handle it.

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Strategic Planning Guest Satisfaction Article Pricing 108

Boutique Hotel News

MARCH 20, 2023

With more than two decades of experience in the travel and technology industry, Bhogaraju most recently held the role of general manager of revenue performance solutions at Expedia Group, where he was responsible for the strategy and execution of the group’s revenue management offerings for the short-term rental and hotel lines of businesses.

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Boutique Hotel News

MARCH 20, 2023

With more than two decades of experience in the travel and technology industry, Bhogaraju most recently held the role of general manager of revenue performance solutions at Expedia Group, where he was responsible for the strategy and execution of the group’s revenue management offerings for the short-term rental and hotel lines of businesses.

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Strategic Planning Customer Service Pricing Marketing 130

Revenue Hub

JULY 19, 2023

Boosting profitability while maintaining high-quality service in city hotels is both an art and a science. Subscribe to our weekly newsletter and stay up to date Leverage Dynamic Pricing Strategies Dynamic pricing involves adjusting room rates in real time based on factors such as demand, competition, local events, and historical data.

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Pricing Article Strategic Planning Book 98

Hotel Owner

APRIL 29, 2024

In the hotel industry, the decision to sell a hotel can be both challenging and promising for hoteliers. Whether it’s to pursue new opportunities, consolidate assets, or respond to market shifts, the sale process demands careful consideration and strategic planning.

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Document Pricing Strategic Planning Information 97

Revenue Hub

DECEMBER 1, 2022

In a competitive operating environment, where every pricing decision counts, all hotels need to ensure that they are pricing themselves correctly in the market, minimising operational costs, and attracting the right guests at the right rates. Hotel Owners. NB: This is an article from IDeaS.

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Pricing Marketing Information Strategic Planning 97

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. This can only be done by measuring and monitoring the demand of your hotel rooms.

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Pricing Book Budgeting Marketing 98

Revenue Hub

JANUARY 31, 2023

Have you planned business objective s for your property? Do you know what opportunities and challenges are ahead for your hotel and what initiatives you should implement to succeed? Subscribe to our weekly newsletter and stay up to date What is a hotel SWOT analysis? This category considers your strengths and weaknesses.

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Revenue Hub

AUGUST 15, 2024

Like every good debate, there’s another side to the story: algorithm and technology enthusiasts claim computers can make better pricing decisions (than humans) because of their ability to process and analyze data in real-time and make logical pricing decisions based on those complex and constantly evolving data sets, eliminating risk of human error.

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Revenue Hub

MARCH 19, 2024

NB: This is an article from Lighthouse (formerly OTA Insight) Subscribe to our weekly newsletter and stay up to date Hotel BI refers to the process of collecting, tracking, analyzing, and understanding internal and external data to make informed revenue, sales, and distribution decisions. Well, that’s what BI does, and then some!

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Strategic Planning Information Article Budgeting 109

Revenue Hub

NOVEMBER 19, 2024

NB: This is an article from Tripleseat Subscribe to our weekly newsletter and stay up to date With strategic planning, restaurants can unlock the full revenue potential of holiday events and private dining. The holidays are such a busy, much-anticipated time in our industry.

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Revenue Hub

AUGUST 29, 2023

Subscribe to our weekly newsletter and stay up to date The Cornerstones of Resort Revenue Management Resort revenue management , interchangeably used with yield management, revolves around a strategic pricing approach. Its core principle is the sale of the right product to the right customer, at the right time and for the right price.

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Revenue Hub

OCTOBER 23, 2023

NB: This is an article from Amadeus Revenue managers are tasked with maximizing revenue and profitability, balancing occupancy and pricing, developing effective competitive demand strategies, understanding evolving guest needs, and more. Many of these sustainability efforts provide cost reduction benefits as well.

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Revenue Hub

OCTOBER 11, 2023

Opportunities : Training & Development: Continuous training can enhance skills and adapt to the changing landscape of the hotel industry. Evolving Industry Trends: Rapid changes in the hotel industry might require constant upskilling. Evolving Industry Trends: Rapid changes in the hotel industry might require constant upskilling.

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Revenue Hub

JULY 10, 2023

In the fast-paced world of the hospitality industry, it’s too easy for hotels to become consumed by the urgency of today’s problems. Moreover, this short-term focus can divert attention and resources from strategic planning and future-oriented decision-making – which is crucial for long-term success.

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Scheduling Strategic Planning Article Blog 91

Revenue Hub

NOVEMBER 29, 2023

Discover what a booking window is and how it can help you secure more bookings for your hotel or lodging facility. NB: This is an article from Smartpricing Subscribe to our weekly newsletter and stay up to date Why is the Booking Window Important for Your Hotel? What is the Booking Window? Download your free copy now!

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Book Pricing Download Strategic Planning 104

Hotel Owner

JUNE 30, 2023

In the past, the UK’s hotel industry has proved it can withstand adversity, having faced no shortage of challenges over the years — from economic meltdowns, World Wars, and most recently, a global pandemic. Investing in your team The hotel industry relies on a skilled and motivated workforce to deliver incredible service.

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Xotels Hotel Revenue Management

APRIL 3, 2024

We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.

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Hotel Owner

JUNE 18, 2023

Key Performance Indicators (KPIs) are measurable values that provide insights into the effectiveness of a hotel’s strategies and initiatives. The importance of KPIs in the hotel industry cannot be overstated—they facilitate decision-making, inform strategic planning, and ultimately drive business growth.

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Revenue Hub

JUNE 19, 2024

Hotels across the globe have navigated major disruption over the last few years. NB: This is an article from CBRE Hotels Subscribe to our weekly newsletter and stay up to date In 2023, we faced concerns of a looming recession, rising inflation, higher interest rates, and increased cost of living.

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Hotel Business

APRIL 18, 2023

Cloud-based hospitality platform HotelKey has partnered with OTA Insight to give hotels access to rate data and actionable insights to make more effective pricing decisions. The strategic partnership introduces new API capabilities, including OTA Insight’s data API, drawing on a daily stream of 2 billion rate data points.

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STAAH

JULY 24, 2024

For example, if you run a hotel, the widget can display rates from your booking engine , plus rates from popular platforms like Booking.com, Expedia, Agoda, and Hotels.com. By providing transparent pricing, the WatchMyRate widget enhances the guest experience and supports your goal of encouraging direct reservations.

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Book Reservations Article Strategic Planning 92

Xotels

APRIL 3, 2024

XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Why is Revenue Management Important to Hotels & Other Industries? What Makes Hotels Suitable to Apply Revenue Management?

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Revenue Hub

JUNE 28, 2023

And while hospitality professionals have built up enough know-how to drastically cut back on the need to ask why for most subjects, tapping into that childlike curiosity when working with data and developing strategic plans is actually an important skill to refine. Using “why?”

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Les Roches

JUNE 24, 2024

How to start a hotel management company 24th June, 2024 In this article The hospitality industry is a dynamic and thriving sector that presents plenty of opportunities for aspiring entrepreneurs. Starting a hotel management company is one of those and can be both rewarding and lucrative.

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Xotels Hotel Revenue Management

MARCH 4, 2020

Hotel low season revenue has long been considered to simply be an unfortunate fact of the industry. But the industry has changed so much in such a short space of time, and hotels no longer have to accept that low season automatically means slow business. Your hotel probably receives lower room demand in the off-season.

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SiteMinder

JULY 15, 2024

Booking lead time is the time between a guest making their booking and arriving at your hotel for their stay. For example, a guest who books your hotel on the 17th of July and arrives on the 31st of July has a booking lead time of 14 days. Greater lead time also gives your hotel more time to learn about your guests.

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Book Blog Strategic Planning Marketing 52

STAAH

MAY 11, 2023

9) Affordable Prices Kerala offers a plethora of affordable accommodation options, making it an ideal destination for budget travellers seeking value for money without compromising on the beauty and hospitality of the state. Looking for a place to stay? Althaf leads revenue growth initiatives for accommodation providers across the country.

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Les Roches

JULY 4, 2024

What do you study in an online hotel management degree? But what do you study in an online hotel management degree? Understanding hotel management Managing a hotel or other tourism venue covers a broad range of roles and responsibilities, all of which are vital to the success of the business.

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Xotels Hotel Revenue Management

DECEMBER 12, 2024

Have you ever wondered what makes a hotels distribution strategy truly effective? Hotel distribution isnt just about listing your rooms on a few booking sites and hoping for the best. So, in this article, Ill walk you through everything you need to know about hotel distribution channels. What Are Hotel Distribution Channels?

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Les Roches

OCTOBER 23, 2023

The role of a sales and marketing director A sales and marketing director is responsible for deciding the direction of marketing and sales activities for a hospitality company, whether that’s a single hotel, a chain or a five-star resort. You could even get the chance to work for some of the top hotel brands.

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Marketing Strategic Planning Travel and Tourism Communication 52

Les Roches

JULY 5, 2024

How can I learn hotel management? 5th July, 2024 In this article The hotel and tourism industry is growing and is estimated to be worth more than $11,000 billion USD in 2029. What is hotel management?

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