Revenue Hub

OCTOBER 2, 2023

NB: This is an article from Demand Calendar Whether they run luxurious resorts or small bed-and-breakfasts, hotel companies spend considerable time and effort creating annual budgets. Let’s start with the steps in budgeting for hotels. Is budgeting critical in hotels? This process is meticulous and time-consuming.

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Revenue Hub

MAY 15, 2024

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date It encompasses a range of activities, including revenue management, performance analysis, and forecasting and budgeting, each playing a crucial role in optimizing financial outcomes.

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Revenue Hub

OCTOBER 20, 2023

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. NB: This is an article from Hotstats What unique challenges are hotels facing in the 2024 budgeting and planning process? Pricing: Have We Reached a Ceiling? he wondered.

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Revenue Hub

JANUARY 11, 2024

There’s no shortage of ways to market your hotel. NB: This is an article from WebRezPro But for busy hoteliers with mounting priorities and limited resources, how do you get to them all? With so many marketing channels and blogs with bright ideas, it can get confusing about which shiny new marketing trend you should hop on board with.

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Revenue Hub

JANUARY 30, 2024

A commercial strategy platform uses data from revenue, sales and marketing to identify the correlating data trends to provide insight relevant to each discipline. Revenue, sales, and marketing have their own departmental goals that determine how they are evaluated. They want marketing to spend more during times of low demand.

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Revenue Hub

MARCH 22, 2024

Unfortunately, there is not a one-size-fits-all approach to marketing for hotels, and the days of dumping dollars into a single channel are long gone. Marketers must meet travelers where they shop—and in today’s digitally-dependent landscape, this means everywhere.

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Revenue Hub

JULY 26, 2023

NB: This is an article from Global Asset Solutions Unlike other products that can be stored and sold later, the prices of hotel room nights often fluctuate based on supply and demand, with prices typically rising during peak seasons or when major events are happening and falling during slower periods.

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Pricing Book Marketing Article 92

Revenue Hub

FEBRUARY 9, 2023

NB: This is an article from Expedia Group However, this demand outweighed supply as airlines struggled to secure enough staffing and planes to keep up. Travelers are upping their budgets as well, with 43% of consumers saying their budget for the next 12 months will be higher than last year.

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Pricing Budgeting Book Article 91

Revenue Hub

SEPTEMBER 27, 2023

This is why is very common that in the industry most hoteliers put all their effort on transactional marketing. NB: This is an article from Bookboost This means the focus is mainly on short-term relations with guests, and once the transaction is done (the booking is made), the relationship ends.

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Revenue Hub

JANUARY 13, 2023

Digital marketing in the hotel and hospitality industry is now crucial in order to get your hotel noticed by both new and existing customers. This then begs the question, what is hotel digital marketing? NB: This is an article from Arise. How much does digital marketing for hotels cost? Average prices by service.

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Revenue Hub

APRIL 17, 2024

Rapidly advancing technology and ever evolving guest expectations have given rise to the opportunity for substantial transformation in roles traditionally siloed into the areas of marketing and revenue management. At the same time, marketing existed at the brand level and largely in the form of printed ads, collateral, and consortiums.

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Revenue Hub

MARCH 26, 2024

NB: This is an article from Lure Agency Subscribe to our weekly newsletter and stay up to date The question is, are your prospects getting their information from you or your competitor? Here are some strategies to help you squeeze every drop of potential from your efforts and budget. Let’s dive in!

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Revenue Hub

MAY 2, 2023

The hotel industry is characterized by continuous change and intense competition, making it imperative for hoteliers to develop a deep understanding of market dynamics and customer preferences. NB: This is an article from Lybra , one of our Expert Partners A well-defined pricing strategy is vital for the success of any hotel business.

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Revenue Hub

APRIL 25, 2024

NB: This is an article from gcommerce Subscribe to our weekly newsletter and stay up to date As hospitality digital marketing has progressed, so have the strategies and tactics used by hotels and OTAs to win customers. OTA’s deploy massive budgets through omnichannel campaigns that result in billions of dollars of transactions.

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Revenue Hub

JULY 10, 2023

NB: This is an article from Mews It informs marketing strategy, helps tailor offers and reveals growth opportunities while optimizing revenue management strategy and profitability. What is hotel market segmentation? What are the benefits of hotel market segmentation? What are the most common hotel market segments?

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Revenue Hub

NOVEMBER 8, 2023

It’s the question every busy marketer fears. You knew it was coming – it happens every year – but budget season was hectic so you pushed it to the bottom of your to-do list until… “What are we doing for Black Friday this year?” can be used to save you time (and budget!) Below we’ll outline how automation and A.I.

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Revenue Hub

MARCH 7, 2024

Guests in the pre-booking phase, either transient or group, have so many touchpoints throughout their journey, where do we, as marketers, start? As an agency owner, it’s disappointing to see agencies approach clients with a price list or set of packages, asking them to pick. What investment are you willing to make in digital marketing?

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Revenue Hub

NOVEMBER 7, 2022

One of the most important elements of an effective revenue management strategy is offering the right prices. NB: This is an article from Beonprice , one of our Expert Partners. Pricing can be based on cost, competition, or demand. This is what’s known as demand-based pricing. What is demand-based pricing in hotels?

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Pricing Definition Article Marketing 77

Revenue Hub

APRIL 22, 2024

As you read this, you’re likely content with your hotel marketing and distribution strategy. For too long, the hospitality industry has managed marketing with an emphasis on the expense side of the ledger. Marketing’s purpose is to capture business that drives new and incremental bookings.

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Revenue Hub

JANUARY 10, 2023

An accurate demand forecast can help a hotel optimise pricing, inventory and operations, resulting in increased revenue and profitability. NB: This is an article from Lybra , one of our Expert Partners. This can help the hotel maximize revenue by charging a higher price when demand is high and a lower price when demand is lower.

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Revenue Hub

MAY 2, 2024

NB: This is an article from TCRM Subscribe to our weekly newsletter and stay up to date This follows on the heels of 1,842 hotel openings in 2022 and approximately 2,480 hotel openings in 2023. A handful of multi-brand conglomerates are now dominating the market across segments from luxury to budget. room supply.

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Revenue Hub

APRIL 19, 2024

As a revenue manager, you know that assessing your hotel’s performance is crucial to staying competitive in your market. Benchmarking is also a valuable tool to track your performance against internal key success metrics, such as your budget and forecast. But how do you know if you’re truly keeping up with the competition?

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Revenue Hub

FEBRUARY 27, 2024

Many discussions focus on familiar strategies like dynamic pricing, personalized offers, and the use of revenue management systems, already widely used in big cities. The theory focuses on occupancy and ADR in isolation, disregard market insights and online positioning, relying heavily on historical trends.

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Pricing Budgeting Book Article 99

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. This enables informed decisions and targeted enhancements to marketing and sales strategies.

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Pricing Budgeting Article Reservations 88

Restaurant Engine

JULY 28, 2021

You want to price your daily dinner specials just right for repeat business. You know that offering your customers specials is a terrific marketing tool. Yet, it can be hard to know where to go with pricing. In this article, we look at how to price daily dinner specials for the best results. The menu price.

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Revenue Hub

JANUARY 17, 2024

NB: This is an article from Userguest , one of our Expert Partners In this article, we’ll explore practical and effective ways for hoteliers to boost bookings and revenue in Q1 and Q2 of 2024 that align with the evolving landscape of travel and hotel trends. Harness the power of data to refine your marketing strategies.

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Book Pricing Article Marketing 96

Revenue Hub

MARCH 14, 2024

By providing prices and availability, hotels now can appear in the hotel booking module for free, along with paid hotel ads. NB: This is an article from Bookboost Subscribe to our weekly newsletter and stay up to date Furthermore, Google assured that those who paid for Google Ads will not be prioritized over those who don’t.

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Book Budgeting Article Pricing 101

Revenue Hub

JULY 19, 2023

In the ever-evolving world of travel marketing, metasearch has emerged as a game-changing tool for hotel chains. NB: This is an article from RateGain It provides travelers with a platform to compare hotel prices and options, making it an essential resource for those who have narrowed down their travel plans and are ready to book.

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Revenue Hub

DECEMBER 13, 2023

NB: This is an article from Cendyn , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date That’s almost 3x the average during the height of the pandemic in 2020. The marketing funnel refers to the journey a customer takes from ideation to execution of a purchase. The simple answer is the middle funnel.

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Marketing Book Article Budgeting 62

Revenue Hub

DECEMBER 5, 2023

When a legacy brand with half a century of history looks to improve its digital marketing, it may be tempting to think success is as simple as running a few online ads. For safari specialists, Ker & Downey Africa, it was not as their unique capability to create and host bespoke, luxury safaris was unclear from their marketing.

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Budgeting Pricing Article Marketing 92

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

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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Revenue Hub

JANUARY 18, 2024

NB: This is an article from Canary Technologies But how well do you know your competitors? And more importantly: how can you use this knowledge to optimize your pricing, marketing and conversions? It helps you analyze the unique selling points (USPs), strengths and weaknesses of your hotel and other players in the market.

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Revenue Hub

APRIL 8, 2024

Wielding unmatched reach and budgets, mega OTAs influence every stage of trip planning and booking. By reducing differentiation to sortable criteria, the meta-search boom commoditizes hotel discovery and accelerates price transparency. As the chart below shows, Airbnb has gained significant market share across global cities.

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Les Roches

OCTOBER 27, 2023

If you want a career in hotel management , you’ll need to be familiar with many aspects of overseeing a hospitality venue, including hotel pricing strategy. However, there are various factors to be considered when pricing and, if you want to maximize revenue, it’s essential to know all about effective hotel pricing strategies.

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Revenue Hub

APRIL 29, 2024

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date In this blog, we’ll explore CEOs’ top challenges and discuss ways to navigate these complexities successfully. This means addressing critical questions like: Are we on track to meet our budget, and what might derail our progress?

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Revenue Hub

NOVEMBER 15, 2022

Most people have probably heard the inspirational business mantra: NB: This is an article from Right Revenue , one of our Expert Partners. If your hotel is not currently considering including new technology in the 2023 budget, below are 5 things you may wish to consider – plus an added bonus: 1 reason NOT to adopt new technology.

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