Can a Point-of-Sale System Increase Revenue at Your Hotel
Hotelogix
JANUARY 20, 2023
The post Can a Point-of-Sale System Increase Revenue at Your Hotel appeared first on Hotelogix.
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Can a Point-of-Sale System Increase Revenue at Your Hotel
Hotelogix
JANUARY 20, 2023
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How to leverage a Cloud Hotel PMS System to drive revenue
Hotelogix
DECEMBER 25, 2023
A Hotel Property Management System (Hotel PMS System) is a solution that streamlines and automates the daily operations of a hotel. Hotel PMS System, or hotel management software, is crucial for generating more revenue. Ultimately, all these result in more sales and revenue.
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Managing a large hotel? You need cloud-based hotel management software.
Hotelogix
FEBRUARY 13, 2024
Operating a large independent hotel with 200+ rooms, 4-5 in-house restaurants, a couple of gyms, spas, and gift shops is multifaceted, where precision, efficiency, and guest satisfaction are paramount. It will lead to revenue leakage.
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Everything You Need To Know About Hotel Operations Management
InnQuest
SEPTEMBER 12, 2023
From the moment a guest walks through the doors until their departure, every aspect of their stay is carefully curated through the lenses of hotel operating systems and the adept oversight of a hotel operations manager. The goal is to provide excellent guest experiences while maximizing revenue and maintaining cost control.
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The Legacy RMS Needs to Evolve. Here’s What it Should Look Like
Revenue Hub
APRIL 17, 2024
In the 1960s, Global Distribution Systems (GDS) revolutionized the hotel industry. In the 90s and 2000s, Online Travel Agencies (OTAs) forced hotels to adapt once again. Now, Artificial Intelligence (AI) is set to transform the way hotels manage revenue and stay competitive. But in 2024, human speed isn’t enough.
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A Concise Guide to Hotel Inventory Management
InnQuest
SEPTEMBER 5, 2023
At a glance: What is Hotel Inventory Management? Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Firstly, What is Hotel Inventory Management? Let’s get started!
Simplifying Hotel Payment Processes: The Role of Integrated Solutions
InnQuest
OCTOBER 3, 2023
The hospitality industry is a highly dynamic field, and hotels are constantly looking for ways to improve the client experience and streamline their processes. This blog explores how integrated solutions play a pivotal role in simplifying hotel payment processes and why they are crucial in today’s competitive landscape.
Unlocking hotel success: Essential hotel reports you need
Hotelogix
JANUARY 30, 2024
As a hotelier, monitoring your hotel's performance is paramount to ensuring smooth operations and maximizing revenue. In this context, reports are critical as they provide key insights into your hotel's operations, from housekeeping to finance, marketing, and guest preferences.
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Want to Improve Hotel Occupancy Rate? Try these Strategies.
Hotelogix
NOVEMBER 19, 2023
In a highly competitive industry, you must attract and retain guests to increase your property's occupancy rate and revenue. This article will explore various ways to improve hotel occupancy rates and the role of technology in it. What is hotel occupancy? What is hotel occupancy?
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Why is Upselling in Hotels Important
InnQuest
FEBRUARY 3, 2023
Exceptional guest experience can elevate a hotel’s reputation and increase revenue and repeat stays. An effective strategy that can help is to upsell additional services or products relevant to customers. According to studies, it can cost five times more to attract new customers than to retain existing ones.
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20 Hotel Sales Strategies to Effectively Increase Revenue
Revenue Hub
MARCH 18, 2024
In the early days, hotels drove sales via word-of-mouth recommendations from happy customers and personal relationships between hoteliers, travel agents, tour operators and corporate travel managers. Competition increased even more with the birth of Online Travel Agencies (OTAs) and the boom of the internet in the 1990s.
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What are 5 Must Have Features to Look for in a PMS?
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APRIL 2, 2024
At the heart of every great hospitality organization is a great property management system (PMS). In fact, the hotel PMS market size was estimated at USD 7.15 NB: This is an article from Infor Subscribe to our weekly newsletter and stay up to date However, the role of property management systems is evolving. billion by 2030.
Pricing Strategies to Maximize ADR, RevPAR and Profitability
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Efficient hotel pricing strategy is a must-have for today’s hoteliers to increase their overall profitability. Hotel revenue managers should understand various aspects including distribution mix, demand forecast, competition pricing and consumers’ buying trends, etc. That is why we talk about rate integrity.
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2023 hotel and travel trends
Boutique Hotel News
DECEMBER 20, 2022
BHN editor Eloise Hanson outlines six hotel and travel trends expected to shape the industry in 2023. Hotel e-tail. In fact, research from HVS shows that over the past 50 years, daily rates across London hotels have grown 0.75 percentage points. per cent on average above inflation per year.
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Rethinking revenue management
Hotel Owner
JANUARY 9, 2023
Today’s hotel owners and general managers (GMs) face numerous challenges, each of which causes a huge impact on your profitability. . Can you generate extra revenue to offset higher costs? . How can you maximise multiple revenue streams? . You can categorise revenue management solutions in three ways: .
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How Hotels Benefit from Consortia and TMCs
Revenue Hub
JANUARY 30, 2024
A Consortia is an organization made up of independent travel agents and agencies joined to increase their buying power, commissions, and amenities which they can provide clients worldwide. Examples include ABC Global Services, CCRA, CTM/Radius, THOR, and Virtuoso.
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The Modern Revenue Manager: 7 Keys to Success
Revenue Hub
OCTOBER 23, 2023
The role of the revenue manager has become increasingly important in the competitive hospitality marketplace and more complex than ever. Meanwhile, ongoing staffing challenges add greater complexity to the role, with many revenue managers serving additional functions beyond the standard job description.
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Tech-Driven Hospitality Trends to Expect in 2024 and Beyond
Revenue Hub
DECEMBER 8, 2023
As we approach 2024, the hospitality industry’s landscape is set to undergo significant transformations characterized by increased personalization, automation, AI, and cybersecurity, just to name a few. But it won’t be business as usual for hotels and hospitality groups that want to stand out as demand climbs.
The Impact of AI on the Hospitality Industry
InnQuest
JUNE 8, 2023
Artificial intelligence (AI) is seamlessly integrating into hospitality experiences, redefining our expectations – from chatbots providing instant customer support to predictive analytics optimizing hotel operations. Hotels can now use machine learning to analyze data to anticipate guest needs, optimize pricing and improve operations.
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9 Common Myths About Hotel Revenue Management. Let’s Debunk Them.
eZee Absolute
DECEMBER 7, 2023
Revenue management (RM) is supremely necessary for hotels. While many hotels are making the best out of it to boost their bottom line, some are still thinking of it as a mythical unicorn. I kid you not, most of the hotels refrain from opting for any sort of revenue management services. Who is to blame for it?
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7 Essential Ingredients to Dominate the Hotel Groups Market
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SEPTEMBER 11, 2023
NB: This is an article from Parclane However, the return of group business is not without challenges, including staffing shortages, inexperienced staff and planners, cost increases, supply chain issues, and short lead times. What used to be a lead for 6 to 8 hotels now reaches 20 to 25, and the numbers can go even higher.
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Hotel booking engine comparison: Chart to compare
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A booking engine comparison is the process of evaluating different platforms to understand their features, functionalities, and suitability for a specific hotel. Boost revenue by reducing reliance on third-party channels and their associated commissions. Why is booking engine comparison important?
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Breaking Down Revenue Management in the Era of Big Data
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OCTOBER 25, 2023
Subscribe to our weekly newsletter and stay up to date Our new focus as revenue managers is to expand our data pool to include other departments across hospitality, provide more relevant data points, and use visualization tools to make it all understandable-and actionable. The key lies in the scope–and speed–big data provides.
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Hotel Management: Meaning, Types, and Operations
SiteMinder
JANUARY 8, 2024
What is hotel management? Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. It can take time to get everything right and as we can see there’s a lot to be aware of. Think of the hotel as an ecosystem that will get healthier the better you manage it.
Is Contactless Forever?
Modern Restaurant Management
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It is no longer a question of how to ensure the survival of your business. Instead, it is a question of how to grow your business stronger than it was in the pre-COVID era, with the answer quite possibly being contactless dining. It is safe to say that the future of restaurants has been altered forever. What Is Contactless Dining?
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What is Hotel Revenue Management?
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APRIL 3, 2024
XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.
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The Revenue Management Needs of Different Hotel Stakeholders
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DECEMBER 1, 2022
In a competitive operating environment, where every pricing decision counts, all hotels need to ensure that they are pricing themselves correctly in the market, minimising operational costs, and attracting the right guests at the right rates. Hotel Owners. NB: This is an article from IDeaS.
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Hotel Management: Meaning, Types, and Operations
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What is hotel management? Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. It can take time to get everything right and as we can see there’s a lot to be aware of. Think of the hotel as an ecosystem that will get healthier the better you manage it.
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JANUARY 22, 2024
Navigating the labyrinth of hotel management can be complex, but there’s one concept that consistently stands out as a game-changer: hotel yield management. This powerful strategy harbors the potential to skyrocket your revenue and fine-tune your operations. What is hotel yield management?
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How to Maximize Black Friday Bookings
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There are alternative items and experiences they can purchase, i.e., a stay at your hotel. Customers are ready for special offers this time of year – we’ve all seen the bright red “sale” signs. The trick is getting them ready for your special offer. The trick is getting them ready for your special offer.
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5 PMS Integrations to Drive More Revenue
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Your property management system (PMS) isn’t there so that you can spend an afternoon playing with all the cool features , as fun as that may be. It’s there to enable you to elevate the guest experience and increase revenue. When someone makes a booking on an OTA, that booking shows up in your PMS.
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Tips to Revenue Management: Use Data Points to its Maximization
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OCTOBER 20, 2022
Whether you run a 5-star hotel or a boutique villa, the goal of all hoteliers is the same – Revenue Maximization. Apprehending this value as closely as possible is the hallmark of a successful hotel. However, the key to scoring a goal in revenue management is direct bookings. Benefits of Booking Engine Data Points.
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How to Price a Hotel Room
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JULY 26, 2023
The sale of an overnight hotel stay is a perishable product. The rates UK hotels were charging this March were similar to peak season July rates, according to the RSM Hotels Tracker. The rates UK hotels were charging this March were similar to peak season July rates, according to the RSM Hotels Tracker.
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Hotel Oderberger Berlin: More bookings and less work – all thanks to SiteMinder
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Hotel Oderberger Berlin opened its doors in 2016, but it has a long and fascinating history. Today it continues as a hotel, the pool being open both to hotel guests and the public (though to the latter only by appointment). It used to be a historic indoor swimming hall dating back to 1902.
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Hotel property management systems
Les Roches
JULY 21, 2023
Many organizations and top hotel brands have begun taking advantage of technologically advanced online systems that help them electronically process a range of data and tasks. If you’re yet to come across hotel PMS, read on as we delve into everything you need to know in this guide. Improved accuracy.
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SiteMinder
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Technology in the hotel industry continues to advance at a rapid pace and hotel property management software (PMS) remains essential for hoteliers looking to improve how they run their business. The key to reaping the benefits of an effective hotel management software system is to select the right one for your property.
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Hotel dynamic pricing: Definition, examples, and best software to use
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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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Essential Hotel Sales Strategies
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JULY 20, 2023
There are various sales strategies you can employ to market and sell your hotel rooms. Create an appealing hotel website: Your property’s website should be user-friendly and feature attractive design, clear information about rooms, amenities, location, services, and reviews.
The biggest challenges facing revenue managers right now
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From irregular demand patterns to changing distribution mix and a depleted talent, here’s a roundup of challenges faced by revenue managers from India right now. The STAAH team went out to leading revenue managers from India to understand what are the biggest challenges they are facing. Lack of skilled staff. Forecasting and budgeting.
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A guide to hotel departments, operational areas and building functions
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OCTOBER 11, 2022
A hotel is very much like a swan swimming on a lake. So who are the people who make sure that a hotel building functions properly? Where are all the different hotel departments located and what exactly do they all do? Where are all the different hotel departments located and what exactly do they all do? Table of contents.
Top hotel content for 2022: Your end of year wrap-up
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DECEMBER 22, 2022
It sounds like we say this every year at this point, but 2022 has been another big journey for the travel industry. It’s been SiteMinder’s mission to provide valuable resources to all properties, so they can be better equipped to tackle any adversity and learn how to fulfil the potential of their business. Table of contents.
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7 Trends Will Change How Hotels Handle Groups and Events Business
Revenue Hub
MAY 11, 2023
As we approach the summer season, the events segment is buzzing with momentum, and hospitality brands and event planners can share in a collective sigh of relief. of 2019 levels in 2023, and Amadeus reports that 64% of event professionals say their spending increased this year.
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MRM Research Roundup: Top F&B Trends to Watch
Modern Restaurant Management
DECEMBER 28, 2023
Restaurant industry insiders offer their insights on F&B trends we can expect to see in 2024. 2023 Trends at a Glance Persistent Planners : When life gets busy, DoorDash’s schedule ahead feature makes it even easier to check everything off your list and ensure it arrives right when you need it.
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