Revenue Hub

MARCH 29, 2023

With the right approach and the right pricing strategy, rate parity can actually be a great opportunity to enhance your guest experience and generate increased ancillary revenue streams for your hotel. NB: This is an article from BEONx , one of our Expert Partners Rate parity can be a difficult concept to understand and even harder to manage.

Pricing 66

Pricing Accounting Book Reservations 66

Synergy Suite

MARCH 14, 2023

And that’s not even mentioning the benefits a quality restaurant reservation system provides to your front-of-house staff, allowing them to communicate and collaborate, find solutions in real-time, and generally have an ease and organization to their work. So, how do you choose the right restaurant reservation software for you?

Reservations 52

Reservations POS Systems Front of House Communication 52

Revenue Hub

JUNE 13, 2023

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners One component is “dynamic pricing.” ” You’re familiar with this model when considering your rack rate vs. your bottom prices. First, consider your hotel has a pricing path. Bottom rate pricing does two things.

Pricing 52

Pricing Book Events Article 52

Revenue Hub

APRIL 2, 2024

NB: This is an article from Lighthouse (formerly OTA Insight) Subscribe to our weekly newsletter and stay up to date Here are some of the key drivers you should be able to record and find in your PMS: Market segment – The category of the market, grouping of rate codes, to which the reservation belongs, such as transient, group, etc.

Reservations 93

Reservations Book Pricing Article 93

Revenue Hub

APRIL 29, 2024

NB: This is an article from RateGain Subscribe to our weekly newsletter and stay up to date It enables you to rapidly and concurrently update room availability and the most recent room pricing across numerous channels. Then, when rooms are reserved across multiple platforms, the pooled inventory can be updated.

Reservations 101

Reservations Book Article Pricing 101

Hotelogix

FEBRUARY 4, 2024

In this article, we'll take a closer look at the critical work areas and features of hotel management software you need to know about.   Reservation management: This feature allows you to manage all your reservations from a single dashboard. You can update prices, add new items, and manage inventory.

Housekeeping 148

Housekeeping Maintenance Reservations Accounting 148

Revenue Hub

MARCH 22, 2024

NB: This is an article from RateGain Subscribe to our weekly newsletter and stay up to date Traditionally, channel managers were responsible for basic connectivity and content updates to Online Travel Agencies (OTAs) and Global Distribution Systems (GDS). Manual collation of reports is frustrating. This allows optimal decision-making.

Reservations 78

Reservations Book Pricing Article 78

Revenue Hub

SEPTEMBER 25, 2023

Running a hotel is a complex and balancing act: you want to ensure all your rooms are booked and your guests are happy, but how do you set the right prices to make this happen? NB: This is an article from eZee Absolute Well, that’s where “hotel rate types” come into play.

Reservations 96

Reservations Book Pricing Catering 96

Revenue Hub

JUNE 11, 2024

NB: This is an article at Catala Consulting Subscribe to our weekly newsletter and stay up to date Conversely, a negative experience at check-in can result in dissatisfied guests, leading to potential revenue losses. A positive first impression can lead to higher satisfaction rates, encouraging repeat visits and positive reviews.

Guest Satisfaction 82

Guest Satisfaction Article Training Information 82

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.

Pricing 59

Pricing Definition Book Marketing 59

Revenue Hub

SEPTEMBER 5, 2023

NB: This is an article from BEONx , one of our Expert Partners Effective management of room inventory can make or break a hotel’s reputation and bottom line. In this article, we’ll delve into the best practices that hotels can adopt to master the art of hotel room inventory management.

Pricing 97

Pricing Reservations Training Article 97

Revenue Hub

APRIL 9, 2024

NB: This is an article from Fuel Travel Subscribe to our weekly newsletter and stay up to date In addition, many hoteliers are broadening their scope beyond just RevPAR. One strategy for direct reservations in your booking engine is to include urgency messaging – such as the number of reservations made recently or time-based special offers.

Book 99

Book Reservations Article Marketing 99

Revenue Hub

JANUARY 30, 2024

In the modern hospitality industry , hotels receive reservations from many places, online and off. The source of a reservation is known as its booking source, and all hotel booking sources fall into one of two primary categories: direct and indirect sources.

Book 79

Book Reservations Article Scheduling 79

Revenue Hub

MAY 24, 2024

Whether it’s a Friday evening flight, a hotel during the holidays, or a taxi ride in a downpour, we have all been burned by higher-than-normal prices due to excess demand. ” Restaurants have long used dynamic pricing, for example, by offering Happy Hour specials to attract customers after work.

Pricing 98

Pricing Article Server Marketing 98

Revenue Hub

APRIL 24, 2023

NB: This is an article from Demand Calendar Of course, no specific percentage or amount represents the average revenue leak for the hotel industry, as it varies depending on factors like location, property size, and management efficiency. The hotel needs an RMS or a dynamic pricing tool integrated with the hotel PMS to minimize revenue leaks.

Reservations 88

Reservations Guest Satisfaction Pricing Article 88

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. Revenue management should adjust prices according to demand and competition, ensuring an optimal price-performance ratio.

Pricing 86

Pricing Budgeting Article Reservations 86

Revenue Hub

MAY 24, 2024

NB: This is an article from Oaky Subscribe to our weekly newsletter and stay up to date From highlighting the most crucial communication skills to master to revealing the most widely used upselling techniques in hospitality, continue reading to learn the ins and outs of effective front desk upselling.

Reservations 95

Reservations Article Pricing Information 95

Revenue Hub

FEBRUARY 1, 2024

You know, that magical timeframe we’ve all been told is the sweet spot for securing reservations. This ‘perfect’ window has dictated pricing strategies, inventory management, and even marketing campaigns. They’re driven by necessity or desire, making them less price-sensitive. Well, it’s time to shatter that myth.

Book 87

Book Reservations Pricing Article 87

Revenue Hub

MARCH 13, 2024

NB: This is an article from Flyr for Hospitality , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date We spoke with Revenue Manager Alex Löw about how FLYR for Hospitality has helped revolutionise Tailormade’s pricing process. My pricing focus was never more than the next 14 days at each property. “We

Pricing 96

Pricing Article Catering Reservations 96

Revenue Hub

APRIL 8, 2024

Our deep dive into the data reveals that there is plenty of positive potential across these cities, with hotels making the most of the demand and pushing up pricing on match days. STRs are seeing a smaller bump of 16%, despite having higher on-the-books reservations during the tournament.

Pricing 74

Pricing Book Article Reservations 74

Revenue Hub

SEPTEMBER 11, 2023

NB: This is an article from innQuest Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. It should provide real-time updates on room availability, reservations, and guest information.

Pricing 101

Pricing Guest Satisfaction Article Book 101

Revenue Hub

SEPTEMBER 25, 2023

Transient travellers, often referred to as “walk-in” guests or those without prior reservations, play a significant role in the hospitality industry. In this article, we will explore the effect of transient travellers on hotel revenue and strategies for capitalizing on this dynamic market segment.

Reservations 96

Reservations Book Article Pricing 96

Revfine

JULY 3, 2023

Do you run a smaller hotel or B&B that uses only manual processes to manage all your reservations, pricing, and inventory allocation? If so, then this article is for you! The post Mythbusters: Revenue Management Technology appeared first on Revfine.com.

Reservations 80

Reservations Article Pricing 80

Revenue Hub

FEBRUARY 6, 2024

NB: This is an article from Little Hotelier , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Business groups often travel to a particular location for meetings or conferences, and may be interested in staying at your property. Group travel plays an important role in your revenue management strategy.

Book 101

Book Pricing Article Reservations 101

Revenue Hub

JUNE 10, 2024

NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date A study involving over 7,000 participants across six countries found that choice deprivation (having too few options) is more commonly reported and harmful to satisfaction.

Guest Satisfaction 98

Guest Satisfaction Article Book Pricing 98

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. NB: This is an article from Beonprice , one of our Expert Partners. However, it’s not always as simple as aiming for a longer lead time.

Reservations 88

Reservations Pricing Book Housekeeping 88

Revenue Hub

NOVEMBER 9, 2023

NB: This is an article from mirai , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Anticipate and persist: Launch promotions before Black Friday and keep them running for a few days after to entice late decision makers, covering Cyber Monday (Monday 27) and Travel Tuesday (Tuesday 28). Are you ready?

Book 78

Book Pricing Article Reservations 78

Larry Mogelonsky

JUNE 10, 2024

(Article originally published on Hospitality Net here ) In the latest Thematic World Panel, we posed the question of how primary data extractions from the property management system (PMS) can be used for machine learning (ML) to the grow a hotel or heighten productivity.

Housekeeping 130

Housekeeping Scheduling Reservations Marketing 130

Revenue Hub

APRIL 4, 2024

The loyalty programs of the largest hotel brands in the world, such as Marriott, Hyatt and Hilton, all share a common functionality: “book & join” or the ability to join the loyalty program while making the first reservation and without diverting to a different funnel where there is a greater chance that your guest will drop out.

Book 94

Book Pricing Article Reservations 94

Revenue Hub

JUNE 13, 2024

NB: This is an article from Stayntouch Subscribe to our weekly newsletter and stay up to date Enter Attribute Based Selling, a booking strategy designed to allow consumers to build highly personalized stay experiences out of the individual building blocks comprising a hotel stay.

Book 74

Book Pricing Information Article 74

Revenue Hub

MARCH 4, 2024

OTAs are offering guests the best of both worlds: lots of information about properties, pricing comparisons and real guests reviews. While OTAs provide hotels with bookings, they also come with a commission fee that hotels have to pay for each reservation. What is the impact of OTAs on hotels?

Book 82

Book Communication Reservations Article 82

Revenue Hub

SEPTEMBER 6, 2023

NB: This is an article from Cendyn , one of our Expert Partners Hoteliers are turning to various online strategies to capture the attention of potential guests, and Google Ads has emerged as a game-changing tool in their arsenal. This consistency enhances the user experience, reduces bounce rates, and increases the likelihood of conversion.

Book 80

Book Budgeting Reservations Article 80

Revenue Hub

MAY 29, 2024

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Because your guests use “breakfast included” as a primary search filter. Booking.com even places the information on the score and quality of breakfast in close contact with the button “I’ll reserve.”

Budgeting 96

Budgeting Reservations Download Article 96

Revenue Hub

APRIL 19, 2024

NB: This is an article from Tripleseat Subscribe to our weekly newsletter and stay up to date This technology’s primary goal is to centralize and streamline all customer data. Read the full article at Tripleseat The post CRM for Hotels: 6 Benefits to Unlock Group Sales Success appeared first on Revenue Hub.

Guest Satisfaction 98

Guest Satisfaction Catering Information Document 98

Revenue Hub

MAY 3, 2024

In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. Sources predict that hotels’ pricing power will remain strong. Why do we do this? Our demand dried up.

Marketing 95

Marketing Pricing Special Events Book 95

Revenue Hub

MAY 23, 2024

NB: This is an article from Mews Subscribe to our weekly newsletter and stay up to date The goal is to attract the highest possible number of ideal guests. To achieve this, studying your PMS reservations history is crucial. Identify trends in region, guest numbers per room, age and other informative data points.

Article 91

Article Reservations Book Communication 91

Revenue Hub

APRIL 21, 2023

NB: This is an article from IDeaS You must generate new business while maintaining existing clients, balance your business mix and then manage all the stakeholders. This includes duties like setting prices, determining and reacting to staffing needs, promoting available inventory, documenting strategic initiatives, and more.

Pricing 82

Pricing Document Article Book 82