SiteMinder

MAY 12, 2023

What is hotel accounting? Hotel accounting is the process of recording and maintaining the financial records and performance of your hotel business. Good accounting makes the finances of your hotel easy to understand for management and other stakeholders – so they can make informed decisions. room sales).

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Accounting Maintenance Document Pricing 52

Revenue Hub

FEBRUARY 15, 2024

Last-minute bookings are bookings that arrive days, hours, or minutes before the guests do. While these bookings can be trickier to handle (no one likes doing things last minute), they are worthwhile to pursue. Hint: There are OTAs specifically geared towards late bookings. Here is how to land guests in a hurry.

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Book Housekeeping Article Reservations 96

SiteMinder

SEPTEMBER 6, 2023

What is the online booking process? The online hotel booking process is how guests book and pay for a stay at your hotel. It should include a smooth, secure booking system that shows real-time room availability and pricing, letting guests book a room without the back-and-forth of phone calls or emails.

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Revenue Hub

APRIL 3, 2023

By offering these free ads, trivago hopes to demonstrate the traffic and booking potential of the metasearch engine to the hotel and encourage them to activate a paid campaign (either CPC or CPA). Unlike Google free booking links, there will be no additional slot for these ads or any other difference that identifies them as free ads.

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Book Pricing Article Accounting 88

SiteMinder

OCTOBER 15, 2023

What is hotel dynamic pricing? Dynamic pricing is a pricing strategy for hotels that involves changing room rates daily, or even within the day based on real-time market conditions. Taking supply and demand into account, dynamic pricing allows for prices to fluctuate regularly so the hotel can maximise revenue.

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Pricing Definition Book Marketing 59

The Restaurant Times

AUGUST 5, 2022

Restaurant accounting is an integral part of operating modern-day restaurants and ensuring consistent growth in the business. Typical accounting methods have not been able to cope with the fast-changing demands of the restaurant business. Benefits Of Restaurant Accounting. Key Restaurant Accounting Metrics. Labor Costs

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Accounting Bookkeeping Budgeting POS Systems 52

Revenue Hub

NOVEMBER 7, 2022

One of the most important elements of an effective revenue management strategy is offering the right prices. Pricing can be based on cost, competition, or demand. It’s also about adapting your rates to market fluctuations so that you offer the right price, to the right guest, at the right time.

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Pricing Definition Article Marketing 79

eZee Absolute

SEPTEMBER 11, 2023

Dynamic Pricing Strategies was his magic trick!! Well, I have had some idea about dynamic pricing but I couldn’t let him go without knowing his secret. In this blog, I will discuss everything Arjun told me (and what I know now) about dynamic pricing for hotels and how you can make the most out of it to mint revenue for your business.

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Pricing Book Marketing Events 59

Revenue Hub

JULY 28, 2023

NB: This is an article from Net Affinity Not only this, but it looks like direct bookings for summer 2023 are aligning with 2022 levels, and also are continuing to significantly outperform all other channels’, including Booking and Expedia. If so, make details of availability very clear at booking stage.

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Book Travel and Tourism Article Blog 67

Revenue Hub

JUNE 13, 2023

In the hospitality world, where competition is fierce and the consumer is king, offering attractive direct booking benefits is not just a complementary strategy—it’s a potential game-changer. Directly competing on price becomes a tall order, which often hotels and resorts find challenging to win.

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Book Pricing Marketing Reservations 52

eZee Absolute

SEPTEMBER 30, 2022

It is a well-known fact that hoteliers nowadays secure a large percentage of their overall bookings through the online ecosystem. And there’s no hiding that Online Travel Agents (OTAs) are a major source for optimizing their online booking flow. It is observed that OTAs control approximately 2/3rd of all online bookings.

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Book Pricing Blog Reservations 85

Revenue Hub

APRIL 26, 2024

GA4 Migration Checklist Survey Your Universal Analytics Create Your GA4 Account Migrate Your Events Create Custom Metrics Link Account Integrations Archive Historical Data Do hoteliers need to store historical data? YoY comparisons reveal recurring peaks and valleys in website traffic, bookings, and revenue. Definitely.

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Accounting Book Article Definition 101

InnQuest

APRIL 5, 2023

Yield management, also known as revenue management, is a strategy hotels use to optimize their revenue by adjusting prices and inventory according to consumer demand. Yield management is a pricing strategy that predicts customer demand and adjusts prices to maximize revenue. And that’s where yield management comes in.

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Pricing Book Blog Marketing 220

Hospitality Magazine

FEBRUARY 21, 2024

If you’re working with a PR agency, put together a list of publications you’d like to be featured in and have an account manager pitch to editorial teams with information about your venue as well as an invitation to come in. But profiting from delivery should be front of mind, which means condensing your menu and pricing it accordingly.

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Revenue Hub

APRIL 30, 2024

This article debunks these misconceptions, highlighting the complex nature of revenue management that goes beyond pricing to include market analysis and customer behavior. While pricing plays a crucial role in revenue management, it is just one aspect of a much broader strategy. However, this is far from the truth.

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Pricing Information Article Marketing 82

Revenue Hub

JANUARY 15, 2024

NB: This is an article from Hotel Financial Coach On the other hand, most hoteliers are at a loss to properly set up and manage the transactions so that they do not end up with a mess in their books and systems. The critical aspect of the pricing is that every item should be discounted the same amount, i.e., percentage.

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Accounting Pricing Article Property Management 93

Hotelogix

OCTOBER 18, 2023

A hotel reservation system is far more than a booking tool. What is a Hotel Reservation System A Hotel Reservation System is a software solution designed to facilitate and manage booking accommodations and other guest-related services at your hotel.  This attention to detail contributes to guest loyalty and positive reviews.

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Hotel Business

NOVEMBER 15, 2022

Today’s travelers have an unprecedented level of power when it comes to booking their trips online. While the benefits for the traveler are obvious, new challenges for the industry have arisen as the online travel market has become too price conscious, losing focus on offering the right product at a fair price. By Hari Nair.

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Accounting Pricing Book Information 132

Revenue Hub

FEBRUARY 20, 2024

Remaining open heightened their online visibility and increased bookings because there was less competition. Today’s travelers book within a shorter window, and they want to book online with flexibility. As you know, appropriate pricing is key to any profitable hotel. For example, guest behavior has changed.

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Pricing Book Download Accounting 103

Hospitality Net

JUNE 23, 2023

New data from SiteMinder, the world’s leading open hotel commerce platform, suggests Spain’s hotel sector could be facing a historic summer of bookings. percent this same time last year.

Travel and Tourism 103

Travel and Tourism Book Reservations Accounting 103

Revenue Hub

MARCH 5, 2024

The Importance of Personalization Your PMS enables you to keep notes about your guests, their specific needs, their habits, and any other pertinent information – all of which will be helpful for you to improve your personalised service offering the next time the guest books a stay with you. At a basic level, saying, “Welcome back, Mr Smith.

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Pricing Blog Book Article 83

Revenue Hub

APRIL 22, 2024

Marketing’s purpose is to capture business that drives new and incremental bookings. The absence of marketing at key points in a traveler’s booking journey due to budget restrictions should be recognized for what it is—opportunity cost. Opportunity wasted, revenue squandered. Opportunity maximized.

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Budgeting Book Presentation Marketing 107

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. Guests crave experiences that are crafted to meet their individual preferences and requirements.

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Pricing Book Cost Reduction Strategic Planning 90

Hotelogix

FEBRUARY 13, 2024

In a 200+ room establishment, manually managing bookings, arrivals, and departures can lead to errors such as booking conflicts or delays in service, immediately impacting guest perceptions and satisfaction.   Attracting potential guests Competition is heating up, and guests have become more price-conscious.

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Housekeeping Regulatory Compliance Guest Satisfaction Maintenance 147

SiteMinder

APRIL 17, 2024

Hotwire.com is an online travel site that offers opaque pricing for hotel rooms, rental cars, and airline tickets. It allows travellers to book accommodations and other travel services at discounted rates without initially revealing the provider’s name. Hotwire.com operates on what’s known as an opaque pricing model.

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Pricing Book Blog Information 52

Revenue Hub

JULY 19, 2023

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. These collaborations can increase your appeal, drive direct bookings, and lead to reciprocal referrals.

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Pricing Article Strategic Planning Guest Satisfaction 93

SiteMinder

JUNE 22, 2023

Barcelona, Spain – New data from SiteMinder, the world’s leading open hotel commerce platform, suggests Spain’s hotel sector could be facing a historic summer of bookings. Hotel booking volumes in Spain are currently 17 percent higher than at the beginning of summer 2019, when the country experienced its biggest year of tourism to date.

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Travel and Tourism Reservations Book Pricing 98

Revenue Hub

JUNE 21, 2023

Some reading this may think: “If not for my competitors, how should I price?” Let’s consider this: 4 Considerations For Competitive Pricing 1. When should competitor pricing come into play? Your competition should factor into your pricing if and when it matters and it should only act as a guardrail when applicable.

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Pricing Accounting Article Book 89

STAAH

FEBRUARY 28, 2023

Together, they handle around 90% of all travel bookings made by 600,00 travel agents worldwide. GDS systems are not just used for booking flights. They also allow travel agents to book hotels, rental cars, and other travel-related services. This has helped to streamline the booking process.

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Book Pricing Reservations Accounting 83

InnQuest

SEPTEMBER 28, 2022

accounting) so that all the information is seamlessly integrated and easily accessible at all times. Ease of Access: In current times, customers expect a highly streamlined experience all throughout – pre-booking, during and post-booking. Book a demonstration of our award-winni ng hotel management software here.

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Property Management Catering Housekeeping Maintenance 130

Revenue Hub

SEPTEMBER 5, 2023

This allows them to adjust pricing strategies, allocate rooms accordingly, and maximize revenue during peak seasons while avoiding vacancies during off-peak periods. By utilizing revenue management systems, hotels can optimize prices in real-time to strike a balance between attracting guests and maximizing revenue.

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Pricing Reservations Training Article 101

Revenue Hub

JANUARY 31, 2023

This is intended to partially offset the additional costs caused by the increased prices and pass them directly to the guests. Price stability: Due to the openly communicated energy flat rate, the remaining prices can be kept stable. The guest pays the same price for the room as he did a month ago.

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Pricing Communication Definition Presentation 85

Revenue Hub

OCTOBER 17, 2022

As a hotel revenue manager, one of your core functions is understanding and anticipating customer behaviour so that you can make the right strategic decisions and optimise your prices accordingly. If it is too long, then it might suggest that there is an issue with your pricing strategy. How do you calculate it?

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Reservations Pricing Book Housekeeping 91

Hotel Owner

OCTOBER 21, 2022

Virtually all aspects of the research and booking process have moved online, which has created an immense amount of data for properties to decipher. This data is precious and holds essential insights for hoteliers to attract more guests, make better pricing decisions, and deliver a better guest experience. 5 important KPIs to track .

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Pricing Book Accounting Housekeeping 119

Revenue Hub

MAY 9, 2023

million group room nights booked for H1 2023. Subscribe to our weekly newsletter and stay up to date Group business means big business for hotels, accounting for a significant portion of hotel revenue. Amadeus reports that group and business travel segments are steadily recovering, with 4.3

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Book Pricing Events Accounting 82

Revenue Hub

FEBRUARY 15, 2024

It enables hotels to proactively identify the most profitable market segments, price points, and opportunities while also pinpointing areas for potential cost efficiencies. This level of detail empowers hotels to adjust pricing, staffing, and resource allocation with precision, optimizing both revenue and guest experience.

Budgeting 101

Budgeting Article Pricing Marketing 101

SiteMinder

APRIL 17, 2024

This tool is designed to help hotels attract more attention and, subsequently, increase their booking potential by reaching a wider, more relevant audience actively looking for accommodation options. Agoda advertising offers a powerful platform to elevate your hotel’s visibility and attract more bookings.

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