Revenue Hub

OCTOBER 25, 2023

To the average hotelier, for whom technology companies have promised the moon over these past few years, the concept of “big data” must often feel like an impenetrable buzzword. For one, data is much easier to gather today than in the past due to more consistent buy-in from hotel leaders and trust from travelers.

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Revenue Hub

NOVEMBER 16, 2023

Third-party data… second-party data… first-party data… and now zero-party data? It can include preference center data, purchase intentions, personal context, and how the individual wants the brand to recognize [them].” Not to mention data privacy regulations, and your overall marketing strategy.

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STAAH

APRIL 2, 2024

What is a Revenue Management Solution for Hotels? Top 5 Reasons to Use a Revenue Management Solution for Hotels 5 Bonus Tips for Maximizing the Effectiveness of Revenue Management Solution (RMS) in Boosting Hotel Profit. What is a Revenue Management Solution for Hotels? 2) Real-time data and accurate forecasting.

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Revenue Hub

APRIL 4, 2024

The hospitality industry is now in an undeniably important state of flux: a widespread upheaval of legacy processes and platforms to make room for big tech and big ideas. Hotels have long been (rightfully) wary of overreliance on bookings generated from online travel agencies (OTAs).

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Revenue Hub

JANUARY 30, 2024

With restrictions to third-party data and new AI tools, lodging operators must familiarize themselves with the different hotel market trends and strategies to stand out from the crowd. GA4’s core strength lies in advanced analytics and data tracking. Capturing travelers’ attention will become even more important in 2024.

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Revenue Hub

SEPTEMBER 26, 2023

In the perpetual quest to achieve greater market share, hoteliers constantly seek strategies to help them transcend the competition posed by online travel agencies (OTAs). NB: This is an article from Revinate This is where hotel data revenue can help. In fact, for every $1 spent on email marketi n g, brands earn $36.

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Revenue Hub

OCTOBER 23, 2023

Today’s revenue management systems – integrated with the other hotel systems – are providing highly accurate and useful data that allows hotels to calculate total guest value, offer personalized rates that reflect demand and inventory, and ultimately increase the property’s bottom line.

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STAAH

NOVEMBER 28, 2023

In this blog, we share some of these shifts and tips on how to adjust your strategy to maximise revenue. 1) Increased adoption of technology One of the most significant shift in hotel practices has been the accelerated access and adoption of technology. STAAH customers have access to insights and data via reporting in their dashboard.

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InnQuest

JANUARY 23, 2023

Customers nowadays trust big names like Expedia, Booking.com, or Hotels.com more than an actual hotel website. However, you can still implement strategies to increase direct bookings and create a better bottom line for your property. What are the benefits of direct bookings for a hotel?

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Revenue Hub

MAY 23, 2023

The hotel industry has been significantly impacted by technological advancements over the past few years. This data can be used to gain insights into customer preferences, track demand patterns, and predict future demand. One area in which technology is having a significant impact is revenue management.

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Smart Brief Hospitality

MARCH 10, 2024

Frank Wolfe, CEO of HFTP The long-held reputation for the hotel industry and its use of technology has been that it is slow in adoption, and it’s been behind the technological curve in comparison to other industries. Another big game changer, over the last decade, is the automation of operational and accounting processes.

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Revenue Hub

DECEMBER 6, 2023

How would that impact your pricing strategies? For AI to properly do its thing, it needs to process massive amounts of data and create links between the billions of data points. Real-Time Agility is Key Why do you want real-time data to inform your pricing strategies? And that leads us to our next point.

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Revenue Hub

OCTOBER 10, 2023

NB: This is an article from BEONx , one of our Expert Partners When it comes to maximizing revenue and occupancy rates, dynamic pricing strategies have taken a quantum leap forward. This comprehensive guide not only demystifies dynamic pricing but also showcases innovative approaches to elevate your hotel’s performance.

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Hotelogix

NOVEMBER 30, 2023

Online Travel Agents for hotels or OTAs serve as important distribution channels for hotels. OTAs are online platforms or websites that sell hotel rooms to customers. An excellent marketing strategy incorporates OTAs to boost sales and revenue. These statistics show why OTAs are essential for hotels.

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Revenue Hub

SEPTEMBER 29, 2023

Hoteliers have long understood the need to employ revenue management techniques as part of their sales strategy. NB: This is an article from Knowland They use it to make informed decisions and discover actionable insights to maximize revenue within the hotel. With it comes revenue-generating events and demand for hotel rooms.

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Hotel Business

FEBRUARY 22, 2024

digital marketing professionals list privacy as their top concern regarding the adoption of artificial intelligence (AI) for hotels. When asked if their company “has a clear and actionable plan for AI integration into their marketing strategy,” 36% said “no,” with 10% of that group stating “no and we don’t know where to start.”

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Revenue Hub

OCTOBER 23, 2023

There’s been a lot of buzz over the past few years about the explosion of big data. Subscribe to our weekly newsletter and stay up to date Read on to discover five pivotal reasons why data is now the heartbeat of modern hotels. In addition to the need for abundant data, the type of data you use is important as well.

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Revenue Hub

OCTOBER 5, 2023

Hotel revenue management is the process of optimizing revenue by predicting demand and setting prices accordingly, most commonly found in hotels to forecast occupancy in order to maximize their room rate, hotel marketing strategy, and overall property performance. First, it helps hotels to maximize their profits.

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Revenue Hub

JANUARY 9, 2024

NB: This is an article from berner+becker , one of our Expert Partners Revenue management has always been a critical aspect of the hospitality and travel industry, it involves optimizing pricing and distribution strategies to maximize revenue, considering various factors such as demand, competition, and customer preferences.

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Revenue Hub

MARCH 21, 2023

Hotels are constantly looking for new ways to boost their revenue growth and attract a larger segment of the market. NB: This is an article from BEONx , one of our Expert Partners With the right revenue management strategies, you can optimise your prices, segment your market, predict consumer demand, and enhance your guest experience.

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Revenue Hub

JULY 17, 2023

In the fiercely competitive landscape of the hospitality industry, it is vital for hotel marketers and hoteliers to continuously innovate and find strategies that will not only attract guests but also guarantee their return. In that matter, a big part of working on your guest loyalty has to do with loyalty programs.

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Revenue Hub

MAY 10, 2024

So, given the important role that online reviews play in the booking process, it is unsurprising that there is also a direct correlation between online reputation and hotel revenue. The evidence indicated that, ‘ not only a hotel’s own reviews but also its competitors’ reviews have a significant impact on the hotel’s booking performance.’

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Hotelogix

OCTOBER 19, 2023

To get a clear picture of your hotel compset analysis, you need to start with the following steps: Define your goals for competition, such as attracting more guests or increasing prices for greater revenue, or improving services compared to competitors. Identify which hotels are your direct competition and collect the data that you require.

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Revenue Hub

JANUARY 19, 2023

2023 is predicted to be another big year for the travel industry. NB: This is an article from Hotelchamp There is a big opportunity for hotel marketers to help capitalise on this demand and reach new and emerging audiences. Thus, it’s critical for hotel marketers to narrow in on areas of opportunity for the hotel industry.

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Revenue Hub

JANUARY 19, 2024

The health of your hotel website can have a big impact on its performance and conversion rate, and even the smallest, most seemingly insignificant detail must be taken into account. If you aren’t already doing it, then it’s time to start making regular backups of your hotel website.

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STAAH

OCTOBER 5, 2022

The leading cloud-based hospitality solution specialist STAAH has partnered with Revnomix Solutions LLP, a seven-year-old revenue management firm with a Global presence, which provides revenue management services to hotels. This is a big shift in consumer and corporate purchasing behaviour that one may not want to overlook.

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Hotel Owner

JANUARY 23, 2023

For owners, developers, investors, managers and other professionals involved in hotel development and investment, the operating environment has shifted to such a degree that as we begin 2023, we need to consider how to respond to the latest challenges. Here are six opportunities for global hotel development projects: 1.

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Revenue Hub

FEBRUARY 6, 2023

Those that do decide to travel will most likely book at a lower-category hotel. Depending on where your hotel is situated, it can increase by as much as 30%. On average, it looks like hotel rooms are set to become between 7% and 10% more expensive. Hotels in the Asia Pacific region will see the lowest hotel price increases.

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Revenue Hub

NOVEMBER 9, 2023

For hotel managers, dealing with unhappy guests is part of the job: you do your best to smooth ruffled feathers, address the underlying problems and make sure that you manage similar situations better in the future. NB: This is an article from Justt.ai NB: This is an article from Justt.ai

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Document Training Information Article 84

Revenue Hub

OCTOBER 10, 2023

NB: This is an article from Parclane Companies are returning to real-life events in a big way, and not just because they can: In-person gatherings are now a vital part of employee engagement and culture in a world where distributed and hybrid workforces have become the norm. According to a Groups360 survey, RFP response rates are only 45%.

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MEWS

JANUARY 30, 2023

Despite all the attention social media and mobile marketing gets, direct - or hotel email marketing - remains the most powerful digital marketing method. Table of contents What is hotel email marketing? Whatever your goal is, this is without a doubt a must when it comes to marketing strategies.

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Revenue Hub

DECEMBER 11, 2023

Whether your hotel currently does corporate meetings and events or wants to drive more group sales, the opportunity exists to diversify your revenue stream. NB: This is an article from Tripleseat Subscribe to our weekly newsletter and stay up to date This is great news for hotels working to drive revenue.

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Events Article Book 95

Revenue Hub

APRIL 18, 2023

Revenue management automation is revolutionising the way hotels manage their data. An effective revenue management strategy needs to be based on hard data and analytics. In the past, revenue managers would process all this data manually, which took a great deal of time and effort.

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Revenue Hub

OCTOBER 31, 2022

The hotel industry has experienced a number of drastic changes over recent years. But it is also down, in large part, to the acceleration of technology, namely solutions relating to artificial intelligence and Big Data. Why are pricing strategies so important in the hotel industry?

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Les Roches

JANUARY 25, 2024

In the digital age, data can be the source of actionable insights, empowering businesses to make informed decisions that can shape lucrative strategies and create growth. From streamlining operations to refining customer experience, hoteliers and restaurateurs now leverage data like never before.

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Revenue Hub

JUNE 6, 2023

NB: This is an article from The Hotels Network , one of our Expert Partners Although there’s been a lot of talk about this technology since last December, at THN, we’ve been using AI in our products for years. But how many hotels actually take the time to analyze data and act on it? Let’s dive in!

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Revenue Hub

SEPTEMBER 1, 2023

NB: This is an article from ReviewPro According to recent STR data , guest reviews are the third most important factor – after location and price/value – to influence booking decisions. When responding to hotel guest reviews, there are a few things you should keep in mind: Speed or quantity? appeared first on Revenue Hub.

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