This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
As we enter 2025, integrating Artificial Intelligence (AI) into hotel pricing strategies continues to revolutionize the hospitality industry. The impact of AI on hotel pricing has deepened and expanded, reshaping the industry in profound ways. billion by 2027, driven by this trend.
They have big budgets and entire teams dedicated to marketing, making it tough to stand out. The Online Marketing Maze Picture this: You're running a small welcoming hotel that guests love. Here's what many independent hotel owners worry about: Not enough money for big marketing campaigns. What’s the problem?
They offer the convenience of hotel-like services while providing more amenities and space for the price. How to market a serviced apartment? Social media outreach marketing ideas for apartments which work well with major platforms like Instagram, Facebook, and even Twitter.
Pricing plays a crucial role in determining the success of any business. When it comes to hotel businesses, one must continuously strive to achieve a balance between the customer experience and pricing. Hotels follow different pricing strategies to get there and seasonal pricing remains one of the most important.
As we step into 2023, the hospitality industry is still reeling from the effects of the pandemic – which makes implementing hotel pricing strategies more important than ever. However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world.
Choosing the best channel manager isn't just about convenience. What Is a Channel Manager and Why Does It Matter? A channel manager connects your propertymanagement system to booking platforms such as OTAs, GDS (Global Distribution Systems), and direct booking engines.
If your hotel isn’t easy to find or doesn’t make a great first impression because of poorly optimized listings or outdated marketing strategy can lead to missed bookings and lost revenue. The Power of Influencer Marketing In today’s world, influencers play a huge role in shaping travel decisions.
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. Promote a Best Rate Guarantee: Ensure guests know they'll get the best price when booking directly. For example, "Book now for 20% off on your stay!"
Good marketing does not start with Google Ads, a good website, or even trying to go viral (I cant even explain how frustrated this last bit gets me). Data 101 for propertymanagers where and how to start? This is very true for hotel or park marketing teams. Business travellers? Dont let the unknown stop you.
Did you know that effective hotel pricing can increase revenue by up to 20%? In this blog, we’ll cover everything you need to decide hotel rates smartly, including competition analysis, pricing strategies, and tools to simplify the process. Steps to Analyze Competitor Pricing: Track room rates across OTAs and direct websites.
Room type mapping is the process of aligning different room categories across various systems, such as a hotel’s PropertyManagement System (PMS), Channel Manager , OTAs , Global Distribution Systems (GDS), and market intelligence tools like rate shoppers.
NB: This is an article from RoomPriceGenie , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Today, hoteliers recognize that they can generate more revenue by being more targeted in their pricing – by offering different rates to different segments of guests. How Do Hotels Choose Rate Plans?
Designed to automate essential processes, Autopilot not only refines pricing strategies but also ensures hotels stay ahead of the competition while optimizing revenue streams effortlessly. This tool helps hotels optimize their revenue by reacting to market changes swiftly and accurately, without the burden of manual intervention.
Without the right tools, keeping room availability, pricing, and bookings updated can quickly become a nightmare, leading to costly errors like overbookings , inconsistent rates, and hours spent on manual updates. Thats why a Channel Manager is essential. This takes hotel staff away from focusing on guest service.
We have witnessed firsthand the evolving landscape of hotel revenue management. In this context, hotel dynamic pricing is one of the most critical elements. What is dynamic pricing in hotels? It enables you to stay competitive by adjusting rates in response to market fluctuations and competitive pricing strategies.
Integrate Your Rates and Inventory : Managing multiple OTA platforms manually can quickly become overwhelming, leading to errors like double bookings or inconsistent pricing. This is where a Channel Manager becomes essential. As a new hotel, the temptation might be to list your property on as many OTAs as possible.
Why Hotel Business Intelligence Matters In today's tough market, you can't just guess. Here's why hotel business intelligence is key: Smarter Choices: Accurate data helps you choose about prices, ads, and other aspects. Revenue Management Figuring out room prices can be tough. Here are some examples.
In this blog post, we will be discussing six essential steps to successful hotel management: Successfully manage their properties Increase revenue Provide a positive experience for guests Understand Your Customers The first step to successful hotel management is understanding your customers.
NB: This is an article from Knowland Subscribe to our weekly newsletter and stay up to date Also known as attribute-based pricing, the shift allows guests to customize their stay by selecting only the necessary services, potentially reducing costs and enhancing their overall experience.
The ongoing manual calculations and pricing updates across all your distribution channels are huge headaches to most hoteliers, especially if pricing isn’t your only responsibility at your property. How and why should you set business objectives for your property? How can you use data to improve your pricing strategy?
You have three systems open – your PropertyManagement System, the online distribution channel manager, and a complex Excel spreadsheet for forecasting. Meanwhile, your phone buzzes with requests from sales, operations, and corporate leaders, asking for real-time insights and pricing updates.
NB: This is an article from WebRezPro But as inflation and high flight prices persist, the revenge travel surge may start to wane. As the cost of living continues to rise, so will travelers’ price sensitivity. How can you maintain (and even grow) ADR and occupancy in a softening market?
The “HospiTech” space is awash with solutions that promise they are the new panacea or can provide silver bullets to unwary hoteliers; non more so than “All-in-One PropertyManagement System (PMS)” providing channel management and booking engine capabilities (as well as of course managing reservations).
In the ever-evolving landscape of the hotel industry, finding the right pricing strategy can significantly impact your business’s success. One approach that has gained traction among savvy hotel owners and managers is dynamic pricing. But what exactly is dynamic pricing?
Here is our round up of 8 Success Stories from our Expert Partners outlining revenue growth, increased ADR, occupancy, booking growth, pricing changes and direct channel success. Challenge Eliminating heavy reliance on manual spreadsheets for revenue management and generating data insights for accurate, data-driven pricing.
Pricing strategies in the hotel industry is one topic that will forever be discussed by hoteliers the world over. That being said, there are some hotel room pricing strategies that have steadily proven to be effective. A combination of different pricing methods can take you a long way in attaining success in the hospitality industry.
By leveraging advanced algorithms and data analytics, these solutions enable hotels to strategically adjust pricing and inventory to maximize revenue. With dynamic pricing capabilities, they ensure rates reflect demand fluctuations, driving higher yields. Cost: Pricing is free to all STAAH Max Channel Manager Subscribers 2.
It involves tracking and controlling inventory in real-time, making informed decisions on pricing, room allocation and availability, and ensuring that the right resources are available at the right time. Effective management ensures that rooms are allocated efficiently and priced competitively.
Unfortunately, most businesses in this sector are still struggling to keep up due to various factors like changing marketing dynamics, rising competition, operational issues, labour shortage, etc. After all, with such a high cost of living, raising prices cannot be the solution to all problems. .
Ah, the thrill of hotel marketing! As we march into 2025, you as a hotelier and accommodation owner have a unique opportunity to refresh your marketing strategies and win over a new generation of travelers. So, lets roll up our sleeves and dive into the marketing techniques that will make your hotel the talk of the town in 2025.
When it comes to running a hotel, a well-executed marketing campaign can make all the difference. In this blog post, we will explore the key strategies and tactics for creating a successful hotel marketing campaign that captivates your target audience and delivers tangible results. Or enhance brand visibility in your target market?
Stayntouch, a global leader in cloud hotel propertymanagement systems (PMS) and guest-centric technology, unveiled UpsellPRO, an advanced upselling tool designed to expand and maximize revenue opportunities for hotels.
What is competitor based pricing? Competitor-based pricing or competition-based pricing is a data-driven approach where businesses use advanced analytics to set their prices based on competitors’ rates. But it’s not just about matching or undercutting competitors’ prices.
By closely monitoring past booking patterns, seasonal trends and market demand, hotels can predict occupancy rates with greater accuracy. Integrate a PropertyManagement System (PMS): A PMS, or propertymanagement system , allows hotels to manage inventory, reservations and other operations seamlessly.
Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yield management in hotels, particularly in hotel revenue management. Before delving into the benefits of yield management in the hotel industry, it is essential to understand what it means.
For example, using a propertymanagement system (PMS) can automate guest check-in and check-out, invoicing, and room assignment tasks. Integrating a propertymanagement system with third-party applications of your choice can also contribute to the hotel’s success.
Research suggests that the payment processing solutions market is projected to grow at a CAGR of 11.43% during the forecast period of 2023 to 2030 while the future market value of this market is expected to reach USD 130.94 Transparent Pricing: Easy-to-read statements, upfront pricing with no hidden fees.
Myth 1: A Siloed System Is Business Intelligence In the hotel industry, it’s common to use separate systems for reservations, propertymanagement, customer relationship management (CRM), and accounting.
By collaborating with bed banks, hotels gain access to international markets and diverse travel audiences. For instance, a hotel in Australia might use a bed bank to market rooms to European travel agents, significantly expanding its global reach without the need for direct international marketing.
Understanding Hotel Operations Management Hotel operations management involves overseeing and coordinating all activities within a hotel to ensure its efficient and profitable functioning. Sales and Marketing: Effective sales and marketing efforts are critical for attracting guests and maximizing revenue.
Hoteliers must rise to these expectations while managing complex operations and staying ahead of the competition. A propertymanagement system (PMS) is the ultimate solution. Customizable reports enable propertymanagers to analyze specific data points, such as revenue from particular channels or peak booking periods.
The integration brings two of the hospitality industry’s key service providers closer together and has simplified access to vital pricing intelligence, for joint customers. OTA Insight’s team of international experts supports more than 60,000 properties in 185 countries.
Wondering how to map out the perfect hotel market segmentation strategy that keeps your hospitality business ahead of the curve? As markets continue to prioritize brands that cater to individual preferences the best, every business’s success depends on how well it offers personalized experiences to end-users.
" AI can help with the reservation process by providing real-time pricing and availability. Choose cloud-based AI tools with flexible pricing models (subscription-based or per-use). However, modern AI platforms seamlessly integrate with PropertyManagement Systems (PMS), CRMs, and booking engines. Let me help!"
We organize all of the trending information in your field so you don't have to. Join 11,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content