article thumbnail

Hotel Budgeting for Change (Part 1)

Revenue Hub

NB: This is an article from Global Asset Solutions This is no less true for budget season, although for many in the hotel sector, it can also come with a sense of foreboding. It will allow the Executive Team to build a budget with the ownership’s goal in mind. To have the budget approved by the ownership group straight away.

article thumbnail

Revenue Management from the Hotel Manager Perspective

Revenue Hub

A Hotel Manager should be comfortable with using revenue management insights for strategic planning, including setting long-term goals, budgeting, and investment decisions.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

How To Select The Right OTAs For Your Hotel - A Comprehensive Guide

Hotelogix

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. Choosing the right OTAs to partner with requires research and strategic planning. It allows travellers to compare rates and services of multiple properties.

Book 269
article thumbnail

What is Hotel Revenue Management?

Xotels

Revenue Strategies & Tactics Market Segmentation Hotel Pricing Strategies Forecasting & Budgeting Properly How to Distribute Effectively? Advance Sales: The hotel product, represented by rooms, can be sold in advance, enabling revenue managers to strategically plan and optimize occupancy levels over time.

Pricing 52
article thumbnail

Tourism trends: Domestic and international tourist market

SiteMinder

Guest experience and satisfaction Trends like mobile check-in/check-out, in-room technology, and AI-driven customer service can significantly elevate the guest experience, making it more convenient, personalised, and engaging. Otherwise they are combating inflation by choosing cheaper rooms or purchasing packages.

article thumbnail

How to excel as a sales and marketing director

Les Roches

They also research strategies and analyze the success of previous sales and marketing programs to make new strategic plans. Graduates not only gain insights into guest satisfaction but also develop a strong foundation for curating marketing strategies that truly resonate. What does a sales and marketing director do?

article thumbnail

What is Hotel Management?

Xotels

At its core, a management company can be seen as a strategic partner that empowers hotel owners to navigate the complexities of the hospitality industry with expert advice. The goal is to maximise the profitability and efficiency of hotels while maintaining a high level of guest satisfaction and service quality.