Revenue Hub

FEBRUARY 5, 2024

Open pricing is a hotel pricing and room distribution strategy that sells rooms at a rate that will both benefit the customer and provide the highest possible profit for the hotel at the same time. How does open pricing work? Open pricing offers more flexibility than the popular BAR strategy used by most hotels.

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Pricing Article Book Marketing 92

Hotelogix

NOVEMBER 13, 2023

Pricing strategies in the hotel industry is one topic that will forever be discussed by hoteliers the world over. That being said, there are some hotel room pricing strategies that have steadily proven to be effective. A combination of different pricing methods can take you a long way in attaining success in the hospitality industry.

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Pricing Book Property Management Marketing 130

Revenue Hub

MARCH 15, 2024

Hoteliers and revenue managers rely on effective hotel price monitoring to optimize revenue and maximize profitability. By understanding market trends, demand patterns, and competitor pricing strategies, hoteliers can adjust their pricing strategies in real time to attract more guests and maintain a competitive edge in the industry.

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Pricing Budgeting Article Information 83

Hotelogix

NOVEMBER 30, 2023

In this blog, we will look at a few strategies to increase bookings for hotels from OTAs.    Importance of OTAs for hotel booking As online sales channels, OTAs generate about 50% to 55% of hotel bookings. Hotels rely on OTAs to showcase rooms and rates and attract guests to book with them while competing with others.

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Book Pricing Marketing Reservations 147

Revenue Hub

MARCH 18, 2024

Discount pricing is a strategy in which you offer your hotel rooms at a lower price to draw guests, boost demand, increase sales volume, or decrease perishable inventory. This pricing strategy can be applied temporarily for promotional purposes or over an extended period to help position your hotel.

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Pricing Article Marketing Book 97

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

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.

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Book Pricing Article Reservations 92

Revenue Hub

FEBRUARY 15, 2024

It’s the price you charge for each room, and hoteliers often fret about setting it too high. In this blog post, we’ll delve deep into why you shouldn’t be afraid to push your room prices higher. They worry that setting room rates too high might discourage potential guests from booking.

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Pricing Article Blog Book 95

Revenue Hub

DECEMBER 15, 2023

For hotels, this time offers a golden opportunity to implement effective pricing strategies that not only cater to the surge in guests but also optimize revenue generation. Dynamic Pricing Model Implementing a dynamic pricing model allows hotels to adjust rates based on demand fluctuations.

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Pricing Book Catering Article 97

Revenue Hub

MARCH 14, 2024

In March 2021, the search engine Giant Google introduced organic booking links to help hoteliers connect with potential guests directly through their search results. By providing prices and availability, hotels now can appear in the hotel booking module for free, along with paid hotel ads. Why is this important?

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Book Budgeting Article Pricing 97

Revenue Hub

APRIL 17, 2024

Ah, the elusive weekdays – the underdog of hotel bookings. With a dash of innovation and a sprinkle of savvy strategy, hotels can turn the tide and transform weekdays into a vibrant canvas of bustling bookings. Read more articles from Userguest The post Want to Skyrocket Weekday Hotel Bookings? Curious about this feature?

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Book Article Catering Marketing 93

Revenue Hub

OCTOBER 13, 2022

Seeing one price to then being presented with another one. NB: This is an article from Direct Your Bookings. I just came from Expedia at $100) Price ambiguity hits: let’s check Booking.com too. You never know which attribute is the lynchpin that causes someone to book or not to book your rooms. Just saying….

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Pricing Book Presentation Article 84

Revenue Hub

SEPTEMBER 27, 2023

Hi, welcome to one of our Expert Insight discussions This is part 2 of 2 episodes looking at the importance of controlling your Hotel pricing and, more importantly, the impacts of not controlling it.

Pricing 101

Pricing Book Marketing 101

Revenue Hub

APRIL 4, 2024

When considering the entirety of the guest experience, from booking to on-property and post-stay, hotel operators and executives now have an incredible opportunity to exceed guest expectations and maximize revenue potential with the help of new-age tools and processes. By 2024, 75% of hotels are expected to use AI for personalized pricing.

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Book Guest Satisfaction Customer Service Pricing 86

Revenue Hub

NOVEMBER 15, 2023

In the good old days, hotel room pricing used to be simple. As a result, however, hotels were often under priced when travellers were willing to pay more and overpriced when travellers were price sensitive. Subscribe to our weekly newsletter and stay up to date Today, most hotels take a dynamic approach to pricing.

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Pricing Book Special Events Article 100

STAAH

MARCH 19, 2024

In the competitive hospitality industry, securing direct bookings is vital for hotel success. But why is it important to develop winning strategies to increase direct bookings? Direct bookings boost profits by cutting commission fees and allow hotels to build better guest relationships.

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Book Guest Satisfaction Pricing Marketing 84

Revenue Hub

FEBRUARY 6, 2024

Group bookings are a powerful force, as it allows you to capture a chunk of travellers while only paying distribution and marketing costs for one booking. Family groups will book for family reunions or multi-generational travel experiences. Group travel plays an important role in your revenue management strategy.

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Book Pricing Article Reservations 99

Revenue Hub

FEBRUARY 20, 2024

NB: This is an article from Lighthouse (formerly OTA Insight) Subscribe to our weekly newsletter and stay up to date Your property should have a tailored pricing strategy that fits its unique needs, but there are common industry practices that can be honed to compliment your business and improve performance.

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Pricing Article Accounting Training 86

Revenue Hub

FEBRUARY 1, 2024

Let’s talk about something that’s been etched in stone for far too long in our industry – the ‘perfect booking window.’ The Illusion of the Ideal Booking Window For years, we’ve operated under the belief that there’s an ideal period before arrival when guests are most likely to book. Well, it’s time to shatter that myth.

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Book Reservations Pricing Article 85

SiteMinder

APRIL 16, 2024

New data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, reveals a 70% rise in the average booking lead time for hotels in Vietnam, following a sharp rise in international arrivals in 2023. The data was revealed by SiteMinder at the 7th Hospitality Vietnam Conference.

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Book Reservations Accounting Marketing 100

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

Revfine

FEBRUARY 21, 2024

Hotel Metasearch Hotel Metasearch aggregates data from various booking sites to compare hotel prices and availability in one place. Key Takeaways Optimize Distribution: Select The post 9 Tips to Increase Bookings Through Hotel Metasearch appeared first on Revfine.com.

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Book Pricing 94

Hotel Owner

APRIL 19, 2024

The average lead time for accommodation bookings has increased 13% year-on-year to 83 days for the coming London Marathon weekend, according to data from SiteMinder. According to SiteMinder’s Hotel Booking Trends, the average lead time for UK hotel bookings grew by 7% in 2023, when compared with 2022, and by 12% when compared with 2019.

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Book Events Pricing 52

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 86

Hotel Owner

JULY 3, 2023

The way that the majority of hotel businesses currently make price level decisions is by looking at historical data, taking what happened last year and comparing that with the upcoming dates year-on-year. Pricing needs to reflect two factors. Secondly, recognition that price elasticity is relative to demand for different products.

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Pricing Book Information Marketing 105

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

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 92

Revenue Hub

OCTOBER 9, 2023

Pricing is a critical element of a hotel’s revenue management strategy. NB: This is an article from Agilysys The right pricing approach can help hotels optimize profitability, attract the right customer segments, and maximize return on margins. Each segment has distinct needs, booking behaviors, and willingness to pay.

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Pricing Article Book Marketing 88

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 89

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 89

STAAH

DECEMBER 12, 2023

Here are 8 smart pricing strategies for hotels to boost revenue and drive more bookings during the holiday season The holiday season marks a period of increased travel, festive cheer, and heightened demand in the hospitality industry. Let’s explore some tips to maximize your hotel’s profitability during this festive period.

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Pricing Book Catering Reservations 78

Revenue Hub

JULY 4, 2023

NB: This is an article from WebRezPro But as inflation and high flight prices persist, the revenge travel surge may start to wane. As the cost of living continues to rise, so will travelers’ price sensitivity. Keep reading for ideas… Value-added packages Attract price-sensitive guests by offering added value.

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Pricing Reservations Property Management Article 73

SiteMinder

APRIL 18, 2024

London, UK : The average lead time for accommodation bookings has increased 13% year-on-year to 83 days for the coming London Marathon weekend, shows data from SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels.

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Book Events Pricing Reservations 59

Revenue Hub

SEPTEMBER 25, 2023

Talk to any hotel operator about empty rooms, and you’ll likely hear about price sensitivity. What if the relentless focus on price is causing more harm than good? If you think you know all there is to know about price sensitivity, prepare to think again.

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Pricing Travel and Tourism Special Events Article 93

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 80

Revenue Hub

JUNE 27, 2023

When hotels implement dynamic pricing, they are constantly adjusting their room rates based on mathematical algorithms aimed to increase occupancy based on area demand. The success or failure of price optimisation often depends on how the strategy is specifically implemented at an individual property. 2. Offer competitive rates.

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Pricing Book Special Events Maintenance 94

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. Fortunately, there are a few strategies that hoteliers can use to checkmate OTAs and encourage more hotel direct bookings. ‍ Your direct booking channels -a.k.a. among others.

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Book Communication Reservations Article 80