Revenue Hub

DECEMBER 12, 2023

In a hospitality industry marked by fierce competition and evolving consumer preferences, dynamic pricing has emerged as an indispensable strategy for success. This nuanced pricing approach, characterized by its responsiveness to market dynamics, plays a crucial role in enhancing key performance indicators (KPIs) for hotels.

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Revenue Hub

JULY 27, 2023

Hotel management is multi-faceted, and each decision carries significant weight. 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.

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Revenue Hub

OCTOBER 3, 2023

ZHAW School of Management and Law, based in Winterthur, Switzerland, conducted a study of 37 hotels that implemented dynamic pricing in 2021 and 2022, evaluating the effectiveness and impact of the RoomPriceGenie revenue management system. What happens to guest satisfaction after hotels start implementing RoomPriceGenie?

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Revenue Hub

MARCH 28, 2023

Offer segmentation is a marketing strategy used by hotels to tailor their services and promotions to different customer segments based on their preferences, behaviors, and demographics. Subscribe to our weekly newsletter and stay up to date What are the Benefits of Offer Segmentation to Hotel Revenue?

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SiteMinder

OCTOBER 10, 2023

What is hotel price monitoring? Hotel price monitoring is a crucial practice that involves tracking the prices of hotel rooms, both within your own portfolio and across competitors. Table of contents Why is hotel price monitoring important for hotels?

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Metasphere

OCTOBER 26, 2023

Hotels are leveraging technology to streamline operations, enhance guest experiences, and ultimately boost revenue. With automation taking center stage, the traditional hotel landscape is evolving to meet the dynamic needs of modern travelers. ,"We

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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.

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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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STAAH

MAY 7, 2024

Before you realize it, the upcoming peak season will be here, presenting an opportunity to maximize your hotel’s occupancy with satisfied guests. Ensuring guest satisfaction should be the cornerstone of your approach. In this regard, having a solid marketing mix in place is crucial.

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SiteMinder

OCTOBER 10, 2023

What is discount pricing? Discount pricing is a revenue management strategy where prices are lowered temporarily or for certain conditions to attract guests and boost occupancy rates. By offering discounted prices, hotels aim to increase demand, especially during off-peak periods, without compromising on profitability.

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InnQuest

OCTOBER 17, 2023

This is why our guide discusses how to avoid overbooking in hotels. As is known, overbooking can be a delicate issue for hotels, as it causes disgruntled guests who are unable to check into their rooms. Hotel Overbooking: Concerning or Not? Hotel overbookings are concerning but not uncommon in the industry.

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Revenue Hub

AUGUST 23, 2023

Price is a very significant yet sensitive topic for many travelers. NB: This is an article from Travel Media Group Receiving online guest reviews related to this subject is common, and these reviews need the utmost attention and consideration when writing a response to them. Ensure that if an apology is given that it’s warranted.

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Pricing Guest Satisfaction Article Information 78

Revenue Hub

JULY 13, 2023

Imagine a world where your hotel knows what a guest wants even before they do. NB: This is an article from RateGain A world where your pricing strategy is not just about numbers, but about understanding choices, dreams, and the urge to travel. Revenue managers are no longer just setting prices based on supply and demand.

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Pricing Book Guest Satisfaction Article 97

Revenue Hub

FEBRUARY 21, 2024

In the dynamic world of hospitality, the UK market stands out as a beacon of innovation and adaptation, particularly in the realm of hotel revenue management. Hotels are increasingly employing sophisticated tools to analyse vast amounts of data, from booking patterns to guest preferences.

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InnQuest

MARCH 2, 2023

Hotel management is a complex and challenging task requiring business acumen and customer service skills. By understanding your customers, you can tailor your services to better meet their needs, which will lead to increased customer satisfaction and loyalty. For example, your target market is mainly business travelers.

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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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Revenue Hub

MARCH 22, 2024

In the contemporary landscape of hospitality industry, data-driven decision-making has emerged as a pivotal tool for maximising profitability and elevating guest satisfaction in hotels. COMPETITIVE BENCHMARKING: Analysing competitor pricing, market demand, and trends is imperative for hotels to stay ahead in the game.

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InnQuest

APRIL 3, 2023

As the hospitality industry evolves after the pandemic, it’s more important than ever for hotels to streamline their day-to-day operations to improve efficiency, enhance the guest experience, and increase revenue. Here are some ways to streamline operational tasks for your hotel.

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Revenue Hub

AUGUST 7, 2023

NB: This is an article from RateGain From maintaining optimal occupancy levels to boosting profitability and delivering memorable guest experiences, staying ahead requires strategic insights and real-time data. This is where hotel revenue management analytics takes center stage.

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eZee Absolute

JANUARY 16, 2024

Table of Content How to Deal With Common Challenges in the Hotel Industry? What Are Some of The Important Hotel Reports? Being an accommodation provider, you will agree that managing a hotel is not an easy feat. Read More What Are Some of The Important Hotel Reports? This is where our next blog comes in.

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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. Plus, it leads to complexities such as rate parity/inventory disparity, overbookings, and guest dissatisfaction. 

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Hotelogix

FEBRUARY 1, 2024

Independent hotels stand out in the bustling hospitality industry with their unique charm and personalized service. To deal with it, they need user-friendly hotel management software. However, this dedication often comes with a trade-off - grappling with the complexities of hotel management. Let's dive in to know more.  

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InnQuest

OCTOBER 24, 2023

In today’s fast-paced hospitality industry, selecting the right reservation system is crucial for the success of your hotel. Understanding the impact of your hotel reservation system on your business is key. Despite the rising popularity of OTAs, direct bookings continue to hold their own in the competitive landscape.

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Hotel Business

SEPTEMBER 7, 2023

After several years of challenging business conditions, which caused much of the hospitality industry to scale back on capital expenditures, hotel management companies have started making serious investments in renovations, maintenance and staffing. Currently, just 13% of branded hotels evaluated are meeting these criteria.

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Revenue Hub

APRIL 30, 2024

Hotel revenue management is surrounded by myths, from the idea that it only concerns room rates to the notion that strategies are ‘set and forget’. This article debunks these misconceptions, highlighting the complex nature of revenue management that goes beyond pricing to include market analysis and customer behavior.

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Revenue Hub

SEPTEMBER 11, 2023

In the ever-evolving hospitality industry, effective inventory management is a critical aspect of running a successful hotel. NB: This is an article from innQuest Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness.

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Revenue Hub

JANUARY 17, 2024

NB: This is an article from Hotellistat , one of our Expert Partners While the basic principles of revenue management apply to all types of hotels, resort hotels have important strategic considerations. Many resort hotels need to generate 80% of their total revenue in 20% of the year. Doing this manually takes a lot of effort.

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Revenue Hub

APRIL 19, 2024

A hotel Customer Relationship Management (CRM) is intended to seemlessly manage and improve guest relationships and how your hotel provides stellar customer experiences ultimately to improve profitability. For your hotel, your CRM software tools become a way to implement a customer focused strategy.

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Revenue Hub

FEBRUARY 29, 2024

Today, let’s explore an approach to hotel inventory management that streamlines this balancing act and delivers better results. Offering steep discounts to quickly fill rooms could diminish the value of your inventory and establish an expectation of lower prices among guests. But what if there’s a simpler way?

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Revenue Hub

JANUARY 25, 2024

Specifically, a one-point increase in a hotel’s GRI can lead to a 0.89% increase in Average Daily Rate (ADR), a 0.54% increase in occupancy, and a 1.42% increase in Revenue Per Available Room (RevPAR). Concerns over Price and Additional Services A significant number of negative reviews were related to price concerns.

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InnQuest

OCTOBER 25, 2023

The hotel industry is evolving, and chatbots are at the forefront of this transformation. Chatbots have become an integral part of the hotel industry, reshaping the way hotels engage with their guests. Beyond their involvement in guest interactions, chatbots serve as valuable sources of data and insights for hotels.

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Revenue Hub

MAY 3, 2024

In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. Sources predict that hotels’ pricing power will remain strong. Why do we do this?

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Revenue Hub

MAY 30, 2023

In the cut-throat arena of the hotel industry, the defining metric of success isn’t just revenue – it’s guest satisfaction. Here’s an in-depth look at how these systems can directly enhance the quality of your guests’ stay. This efficiency can have a noticeable ripple effect on guest services.

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Hotelogix

OCTOBER 18, 2023

A hotel reservation system is far more than a booking tool. It's a comprehensive solution that empowers your hotel to optimize operations, deliver exceptional guest experiences, and thrive in a competitive industry.  This streamlined process enhances guest satisfaction and encourages more bookings.

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Revenue Hub

APRIL 23, 2024

NB: This is an article from Bookboost Subscribe to our weekly newsletter and stay up to date Finally, resource constraints like budget and skilled personnel limit data management capabilities, especially for smaller hotels. By segmenting guests accordingly, properties can increase revenue and enhance guest satisfaction.

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Revenue Hub

DECEMBER 4, 2023

NB: This is an article from Catala Consulting Profitability management encompasses a broader perspective, considering factors like cost control, efficient resource utilization, and value creation for guests. Hotels used historical data and simple forecasting methods to set room rates, often focusing on short-term gains.

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Hotelogix

DECEMBER 7, 2023

To be very precise, it has shaped the way guests book their accommodations at hotels. This is the primary reason why as a hotelier, you should know how to select the right OTAs for your hotel. OTAs are now a great marketing resource for hotel owners, allowing them to reach a wider audience and optimize revenue.

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