Revenue Hub

OCTOBER 17, 2023

To put it in simple words, ancillary revenue or additional revenue is like a bonus income that hotels can earn from things besides just renting rooms. NB: This is an article from eZee Absolute Curious about how you can tap into this for your hotel? Whether your hotel is big or small, fancy or cozy, this guide is your secret recipe.

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eZee Absolute

OCTOBER 16, 2023

Ever thought about how hotels can pocket some extra cash beyond just renting out rooms? ” It is when a hotel offers additional services or packages to enhance a guest’s stay. These supplementary offerings not only open the door to additional income for the hotel but also give guests that extra touch of luxury.

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Revenue Hub

JULY 11, 2023

Embarking on a new hotel venture is a complex yet thrilling endeavor. This article delves deeper into practical revenue optimization strategies for new hotels and underscores the crucial role that a Revenue Management System (RMS) plays in steering financial success.

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SiteMinder

OCTOBER 5, 2023

Table of contents Why are hotels using Expedia Partner Central? Being part of one of the world’s leading travel marketplaces, it offers hotels the potential to connect with a vast and diverse audience. This will involve providing detailed information about your hotel, so come prepared with a full profile.

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eZee Absolute

AUGUST 31, 2022

Not to mention, it is also a great opportunity for hotels to attract guests during diwali boost their business significantly. How Can Hotels Prepare for Diwali? Host a special event. Have a strong hotel technology stack. Spread the word through marketing. A Little Something for International Hotels.

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Hotel Owner

JUNE 29, 2023

Costs, plus the hassles created by industrial action will dissuade many from venturing overseas, thus opening up a large and lucrative market on your doorstep, your challenge, as ever, is how to reach it. Tap into this market through either advertising in related media or through their recreation’s association.

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Revenue Hub

APRIL 11, 2023

The optimal distribution mix for a hotel depends on the hotel’s target market, location, size, and unique selling points. NB: This is an article from Demand Calendar However, no one-size-fits-all answer exists, as each hotel must consider its specific situation and goals.

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SiteMinder

OCTOBER 15, 2023

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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SiteMinder

NOVEMBER 30, 2023

It’s interesting to note then that the hospitality industry is becoming increasingly dependent on technology systems that can limit the amount of interaction people actually have with each other, but in some cases can significantly enrich the opportunity for hotel staff to give guests their utmost attention.

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Revenue Hub

OCTOBER 23, 2023

Today’s revenue management systems – integrated with the other hotel systems – are providing highly accurate and useful data that allows hotels to calculate total guest value, offer personalized rates that reflect demand and inventory, and ultimately increase the property’s bottom line.

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Les Roches

DECEMBER 30, 2023

The term ‘customer’ refers to a more transactional relationship, where the emphasis is on providing efficient and satisfactory service to all patrons, not just guests Guest services in the hotel industry Hotel businesses rely on delivering exceptional guest services to maintain loyal customers and attract new guests.

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Revenue Hub

JUNE 13, 2023

First, consider your hotel has a pricing path. Let’s start with these two types of hotel dynamic pricing. If you want an overview of fixed and variable costs and calculating them, you can consult this article It’s fundamental to define the bottom rate for the hotel room. This path has different phases throughout the year.

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SiteMinder

AUGUST 29, 2023

What are hotel costs? For hoteliers, hotel costs encompass everything from the cost of construction, to the cost of insurance, to the everyday operational costs of establishing, running and ultimately growing a hotel business. Hotel construction costs The foundation of any hotel begins with its construction.

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Les Roches

DECEMBER 27, 2023

The term ‘customer’ refers to a more transactional relationship, where the emphasis is on providing efficient and satisfactory service to all patrons, not just guests Guest services in the hotel industry Hotel businesses rely on delivering exceptional guest services to maintain loyal customers and attract new guests.

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Revenue Hub

MAY 17, 2024

Many hotels collect guest data with the guest’s permission but how many truly use it effectively? Guest profiles built by data offer hotel marketers a single pane of glass to view the guest’s stay history, preferences, and life events or celebrations.

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Revenue Hub

JUNE 27, 2023

Guest profiles built by data offer hotel marketers a single pane of glass to view the guest’s stay history, preferences, and life events or celebrations. As a first touch, a hotel’s marketing team must design a website that attracts and maintains a guest’s attention. Personalization is critical.

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Hotel Business

NOVEMBER 27, 2023

Set on 2,200 wooded acres in the Laurel Highlands in Farmington, PA, Nemacolin resort features three hotels, three estates and eight homes, as well as numerous F&B offerings and activities. Hotel Business caught up with Hardy to discuss her journey in the hospitality industry, as well as the past, present and future of the resort.

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SiteMinder

OCTOBER 10, 2023

What is hotel forecasting? Hotel forecasting is a method that is used to help managers determine their accommodation’s future demand and revenue performance. Table of contents What is a hotel availability forecast? A good hotel forecast will help you make the most of peak periods and help you through low periods easier.

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eZee Absolute

MAY 7, 2024

But hotel revenue management can be your secret wand. It’s about knowing your guests and setting the right price to fill your hotel. But first, let me tell you about Claire Smith from Verandha Hotel. A flourishing hotel that delights guests and exemplifies the power of innovative revenue management. The result?

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Revenue Hub

OCTOBER 17, 2023

NB: This is an article from Robert O’Halloran , Professor Director, School of Hospitality Leadership at East Carolina University A new hotel to some is just another place some travelers cannot afford to stay. That is said tongue and cheek but in the current hotel landscape, the efforts by lodging decision makers have been on room rates.

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SiteMinder

DECEMBER 7, 2023

What is hotel rate management? Hotel rate management is the process of strategically pricing rooms to attract guests while also maximising revenue. This process requires continuous analysis of market trends, booking patterns, and competitor strategies. Table of contents Why does hotel rate management matter?

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Revenue Hub

OCTOBER 28, 2022

NB: This is an article from RealTime Reservation. To stay ahead of the competition and help your business recover faster than those hotels that rely only on one revenue stream, it is prudent to create a well-formatted ancillary revenue strategy. Most importantly, empower the guest to personalize and reserve in advance.

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Revenue Hub

AUGUST 22, 2023

NB: This is an article from Agilysis While revenue per available room (RevPAR) has been the most common metric to hotels in the past, today they are finding revenue per available guest (RevPAG) to be even more important. billion in room revenue lost in 2020 and 2021.

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Revenue Hub

OCTOBER 28, 2022

While revenue per available room (RevPAR) has been the most common metric to hotels in the past, today they are finding revenue per available guest (RevPAG) to be even more important. It’s important for hotels to understand guest behavior from two perspectives: propensity and affinity. What Today’s Guests Want.

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