article thumbnail

Revenue Managers: Yes It’s a Seller’s Market But Don’t Get Greedy

Revenue Hub

Firstly, our city is a drive-in market; guests don’t stay for three nights for special events. Also, we didn’t consider the demographics of our target guests. We were selling special event prices in a market that had reverted to normal holiday-weekend low demand. Of course nobody was booking.

article thumbnail

How to streamline daily operational tasks for your hotel today?

InnQuest

Accurate forecasting is another critical aspect of revenue management, allowing hotels to price confidently and prepare for high-demand seasons and special events. With real-time, automatic rate optimization, hotels can adjust rates dynamically in response to demand fluctuations, ensuring they are competitively priced.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Decoding Hotel Demand: Mastering Hotel Seasonality for Profit

Revenue Hub

NB: This is an article from Demand Calendar Factors such as the destination’s appeal for tourism, business events, cultural festivals, and other attractions are the primary drivers of the demand for overnight stays. Instead, add values the guest will appreciate to make the offering attractive.

article thumbnail

New innovations come to hotel TVs

Hotel Business

Hotels will have the opportunity to unlock new revenue streams with on-screen advertising for property-centric dining, shopping, spas, special events, casinos and more. Additionally, OnStream will soon tap into loyalty data to personalize guest offers.

article thumbnail

What is discount pricing? Strategy and examples for hotels

SiteMinder

By understanding and employing discount pricing strategically, hotels can maximise revenue, improve guest satisfaction, and enhance their overall brand image. Offer lower rates for guests booking multiple rooms, ideal for group travellers or event attendees. Example: A 10% discount for bookings of 5 rooms or more.

Pricing 59
article thumbnail

Guide To Enhance Guest Experience at Your Hotel

Hotelogix

Post-stay: The relationship with guests shouldn't end when they leave. Importance of Improving Guest Satisfaction Key Elements/Factors Affecting Guest Experience Personalization: Tailoring experiences to suit individual guest preferences can significantly elevate their satisfaction.

article thumbnail

How Effective Hotel Inventory Management Strategies Ensure Smooth Operations

Hotelogix

Seasonal Variations: You often experience fluctuations in demand based on seasons or special events. Hotel Inventory Management Strategies By strategically employing various hotel inventory management strategies, your business can achieve operational efficiency, reduce costs, and elevate guest satisfaction.