Hotel Business

FEBRUARY 1, 2024

According to the 2024 State of the Meetings Industry report from Knowland and ConferenceDirect , pricing continues to be an issue with 47% of meeting planners. Larry Hanson, CMO, ConferenceDirect, said, “Planners are optimistic, with 42% expecting an increase in bookings this year. AI plays an increasing role in the meetings industry.

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Pricing Events Budgeting Presentation 109

InnQuest

OCTOBER 5, 2022

As time progresses, direct bookings are becoming an integral part of every hotel’s distribution mix. After all, paying hefty commissions for third-party bookings isn’t the most desirable way to handle business. Hoteliers across the globe understand this and are now focusing on how to get more direct hotel bookings for their business.

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Book Pricing Reservations Information 217

Revenue Hub

JANUARY 17, 2024

As the hospitality industry gears up for a transformative year in 2024, hoteliers face an exciting challenge – how to capitalise on emerging trends to boost bookings and revenue in the first two quarters. The more personalised the experience, the higher the likelihood of securing bookings. Userguest is your ally in this endeavour.

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Book Pricing Article Marketing 95

Revenue Hub

JULY 27, 2023

NB: This is an article from Demand Calendar One of the most pivotal decisions is setting the right price policy for hotel rooms. A hotel’s pricing strategy can be the difference between empty rooms and a bustling, thriving business. In this approach, hotel rooms are viewed and sold as commodities, regardless of who the guest is.

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Pricing Guest Satisfaction Article Blog 88

SiteMinder

DECEMBER 3, 2023

What are holiday bookings? Holiday bookings refer to the reservations made by individuals or groups for accommodation, travel, and other related services during their vacation period. For hotel managers, effectively managing holiday bookings is crucial.

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Book Pricing Reservations Budgeting 105

SiteMinder

SEPTEMBER 10, 2023

What is a hotel budget? A hotel budget is a financial plan that outlines the projected income and expenditures for a specific period, usually one fiscal year. It serves as a financial blueprint, detailing various revenue streams such as room bookings, food and beverage sales, and ancillary services.

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Budgeting Maintenance Front Desk Operations Document 59

Revenue Hub

MARCH 14, 2024

Hotel booking apps are now a dominant source of bookings for accommodation providers, with travellers booking their trips online more often than not. billion in 2023, booking apps are where the money is – as well as your own hotel website. The wider you cast your net, the better too.

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Book Article Definition Budgeting 82

Revenue Hub

NOVEMBER 9, 2023

As a hotelier or revenue manager, you’re no stranger to the intricacies of managing bookings. NB: This is an article from Topline Revenue , one of our Expert Partners Yet, group bookings present a unique challenge. Fear not, though, because we’re here to guide you through the process of mastering group booking management.

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Book Pricing Guest Satisfaction Article 91

Hotel Owner

MAY 15, 2023

“I think because we focus on the basics, consumers recognise that and reward us for paying the right price, for the right product and not for things that they don’t need,” says Karim Malak, CEO of Easyhotel. In 2022, Easyhotel’s RevPAR was up 56% and its market share increased showing strength of the budget model in the current climate.

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Budgeting Book Pricing Marketing 105

STAAH

NOVEMBER 29, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

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Budgeting Pricing Book Accounting 65

Revenue Hub

FEBRUARY 9, 2023

In this post, we dive into what travelers care about when booking air travel and how that aligns (or doesn’t align) with the airline industry’s perceptions to give airlines the best insights for 2023. 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 90

Revenue Hub

SEPTEMBER 6, 2023

In the age of digital transformation, the hospitality industry has witnessed a significant shift in how travelers plan and book their accommodations. When the CRS integrates Google Ads, it ensures that this specific messaging is displayed on Google Ads even before the prospects land on the booking engine.

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Book Budgeting Reservations Article 81

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 91

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? percent in 2022 to 6.8

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Budgeting Travel and Tourism Pricing Article 99

Revenue Hub

DECEMBER 14, 2023

That is why no benchmarking experience can be considered comprehensive without frequent insight into future booking levels in the marketplace. This gives you the most accurate, like-for-like insights into how your business on the books is shaping up. Pickup shows the change in bookings from one data collection period to the next.

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Book Article Marketing Pricing 92

Revenue Hub

MAY 16, 2023

The hospitality industry has experienced significant transformations in recent years, particularly in the way hotel bookings are made. As a hotelier, understanding the pros and cons of both hotel direct bookings and hotel bookings from OTAs is crucial for developing an effective revenue management strategy.

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Book Pricing Guest Satisfaction Article 71

Revenue Hub

OCTOBER 26, 2023

The significance of integrating Buy Now, Pay Later in your hotel booking engine BNPL has revolutionized how travelers secure their accommodations. Rather than requiring an immediate full payment upfront, they can book their stay and choose to spread the cost over several weeks or months.

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Book Reservations Budgeting Guest Satisfaction 90

Hotelogix

DECEMBER 7, 2023

To be very precise, it has shaped the way guests book their accommodations at hotels. This gives them a better idea of what fits their requirement and budget best. These platforms work like magic to spread the word about property, inventory, prices, offers, etc. Then this guide is all you need.  

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Book Budgeting Catering Strategic Planning 268

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. This theory in my view might have held true ten years ago when the booking journey was far more complex than today’s one-click approach.

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Pricing Budgeting Book Article 98

Revenue Hub

MAY 2, 2023

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. Hotel pricing is a dynamic process influenced by various factors, including location, competition, customer preferences, and seasonality.

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Pricing Article Book Events 65

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. So much so that OTAs have devoted huge chunks of their budgets to these channels.

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Budgeting Book Presentation Marketing 105

Revenue Hub

MARCH 21, 2023

Price elasticity is an essential KPI for any business, and the hotel industry is no exception. NB: This is an article from Lybra , one of our Expert Partners It measures the responsiveness of demand for a product or service to changes in its price. Seasonality This is another important factor that affects price elasticity.

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Pricing Article Budgeting Events 78

SiteMinder

OCTOBER 10, 2023

What is cost based pricing? Cost-based pricing is a pricing method where the selling price of a product or service is determined by adding a markup to the unit cost or, in the case of hotels, the cost of keeping a room available and maintained for use. Table of contents Why do hotels use a cost-based pricing strategy?

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Pricing Maintenance Communication Marketing 59

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

SiteMinder

MARCH 13, 2024

What is a hotel booking app? A hotel booking app is an application or website that travellers use to book a stay at a hotel. Often travellers will use apps via their mobile devices to research, book, and pay for hotel accommodation. Table of contents Why should you be aware of the best hotel booking apps?

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Book Reservations Blog Housekeeping 60

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

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 75

Revenue Hub

FEBRUARY 8, 2024

This rate is determined by the ratio of bookings to clicks on the hotel’s listing. Regularly updating the hotel’s OTA profile with high-quality content can improve ranking and bookings. OTAs consider long-term booking potential and prefer hotels that offer substantial booking capacity on their platforms.

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Book Budgeting Article Pricing 104

Hotelogix

JANUARY 30, 2024

Additionally, it includes reports on no-shows, occupancy, market analysis, company contributions, business analysis, MIS, and a manager flash report with budget details for comprehensive analysis. Make informed decisions: Utilize hotel performance reports to refine pricing, promotions, and budget allocation strategies.

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Housekeeping Reservations Budgeting Book 147

SiteMinder

OCTOBER 15, 2023

What are booking channels? Booking channels are platforms by which your hotel can accept reservations online or offline. Examples of booking channels include your own website, online travel agents like Booking.com, metasearch sites like Google, traditional travel agencies, global distribution systems (GDS), and more.

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Book Travel and Tourism Reservations Blog 59

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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Pricing Communication Book Marketing 52

Revenue Hub

MARCH 22, 2023

Direct bookings have become essential to any independent hotel’s distribution mix. Subscribe to our weekly newsletter and stay up to date Still, it’s important to note that all bookings are innately good. Different types of bookings will bring you varying amounts of revenue and profit.

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Book Reservations Article Budgeting 74

Modern Restaurant Management

JANUARY 9, 2024

Banks have been reducing exposure to small businesses ever since the pandemic, and now with higher interest rates putting pressure on bank deposits and greater regulatory scrutiny, banks are reducing their loan books even more. What stage of growth are you in and do you have the budget to fund traditional advertising?

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Budgeting Pricing Marketing Catering 190

Hospitality Magazine

FEBRUARY 6, 2023

People will adjust their budgets and choices, and you’re flexible enough to meet them with fresh new offers. A digital menu gives you endless flexibility to experiment with new dishes, drinks and pricing. If something doesn’t work, it’s gone in minutes, or you can raise the price if it’s a success. Upgrade your menu.

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Bookkeeping Pricing Book Budgeting 162

InnQuest

FEBRUARY 1, 2023

This can be done by: Implementing energy-efficient measures Using eco-friendly products Promoting recycling and composting Be Where Your Audience Is A significant development that hotel managers need to be aware of is the rise of online booking and review platforms. Learn more about us here.

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Pricing Book Information Budgeting 221

Revenue Hub

JANUARY 13, 2023

Like all businesses, you want your hotel to get the best return on its investment and ensure every penny of the hard-earned marketing budget is being spent well. Average prices by service. PPC is an extremely effective channel for hotels to reach lots of new customers, and encourage direct bookings. Social Media Management.

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Marketing Budgeting Pricing Book 88

Hotel Business

JUNE 28, 2023

The overall price of lodging has climbed 23.6% won’t let rising prices stop them, with a majority (77%) planning to dip into their savings this year to travel. vacationers reporting they are more likely to consider a ‘staycation,’ booking stays closer to home, due to the cost-of-living crisis. Consumers across the U.S.

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Budgeting Pricing Book Presentation 105