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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Property Management Training Guest Satisfaction Special Events 222

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?

Marketing 96

Marketing Pricing Special Events Book 96

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.

Pricing 59

Pricing Definition Book Marketing 59

Revenue Hub

DECEMBER 4, 2023

NB: This is an article from DynamEat Today’s solutions excel at generating price choices and adjustments automatically by using advances in artificial intelligence and machine learning. The incorporation of new data sources, such as POS, is critical in enabling more intelligent pricing choices.

Special Events 90

Special Events Pricing Accounting Article 90

Revenue Hub

JULY 24, 2023

The demand for hotel accommodations is closely linked to the demand for travel to a specific destination. 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.

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Maintenance Travel and Tourism Special Events Guest Satisfaction 80

Revenue Hub

SEPTEMBER 5, 2023

In the intricate dance of revenue management , one of the most critical aspects is hotel room inventory management. NB: This is an article from BEONx , one of our Expert Partners Effective management of room inventory can make or break a hotel’s reputation and bottom line.

Pricing 97

Pricing Reservations Training Article 97

Revenue Hub

JANUARY 9, 2024

If you’re new to revenue management or hotel operations, it will help to get acquainted with hotel demand forecasting, and we can help get you up to speed. Subscribe to our weekly newsletter and stay up to date In this blog we’ll explore what hotel demand forecasting is, what it’s used for, and more. And why does it matter?

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Special Events Book Article Information 77

Hotel Owner

JULY 5, 2023

The Hunday Manor Hotel in the Lake District National Park has been sold to Osprey Hospitality Group from a guide price of £1.6m. The 27-bedroom hotel near Workington, which is set in four acres of grounds, has a 70-seat restaurant, lounge and cocktail bar, as well as conference and banqueting rooms for 250 guests.

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Special Events Events Pricing Marketing 105

Hotel Owner

APRIL 14, 2023

The Novar Arms, which is located in the rural village of Evanton, Dingwall, has brought to market the freehold going concern for an asking price of £649,500. Features of the hotel include a bar and restaurant area on the ground floor, as well as 22 ensuite bedrooms.

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Marketing Special Events Pricing Events 103

Revenue Hub

JULY 10, 2023

Hotel segmentation is at the heart of any successful hotel operation. By identifying where the business is coming from and what motivates guests to complete a purchase, you can better define effective pricing strategies and target your offer to meet their needs. What is hotel market segmentation?

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Marketing Special Events Book Article 82

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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Pricing Book Article Events 64

Hotelogix

OCTOBER 18, 2023

For any accommodation business to run smoothly, hotel inventory management has to be effective. Its significance not only lies in ensuring your hotel's profitability but also in its potential to optimize revenue generation.  And that's what we are going to discuss today in this blog.   Let's get started.

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Procurement Guest Satisfaction Special Events Pricing 100

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? Be strategic about the pricing. Host a special event. Have a strong hotel technology stack. A Little Something for International Hotels.

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Special Events Pricing Events Book 52

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.

Pricing 82

Pricing Book Reservations Property Management 82

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.

Competitive Analysis 59

Competitive Analysis Book Information Property Management 59

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.

Guest Satisfaction 52

Guest Satisfaction Book Property Management Pricing 52

Hotel Business

SEPTEMBER 15, 2023

For an effective pricing strategy, you should look to determine your offerings, including: Variety of rates Discounts Your loyalty program offerings Upsell opportunities Slow periods are an excellent time to understand price fences such as advanced purchase, deposit or cancellation policies, as these can be flexed over time.

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Special Events Pricing Accounting Events 64

Revenue Hub

OCTOBER 30, 2023

Addressing 5 fears of revenue management automation While there’s no killer robot revenue manager coming down the pipeline (rest easy, hotel sales teams), there are still some common concerns we can help address. It’s not just one tool or one person doing the pricing. The end result?

Pricing 89

Pricing Special Events Article Book 89

Revenue Hub

FEBRUARY 20, 2023

Hotel revenue management—while essential—can prove extremely difficult for several reasons. How do you increase your profits even as prices remain high and the future remains unknown and uncertain? 7% wanted to celebrate a special event. 7% wanted to book a trip after receiving a discounted or special offer.

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Special Events Article Book Pricing 83

Les Roches

DECEMBER 21, 2022

Revenue is important in any business, and in hotels and hospitality, it can be hard to keep track of revenue due to the constantly-shifting nature of the business. In this article, we’ll go over everything from the history of revenue management to the different ways you can assess revenue in a hotel.

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Pricing Book Concierge Events 52

Xotels

JANUARY 18, 2021

One of the components needed to apply a hotel revenue management is market segmentation. What is Hotel Market Segmentation? As a revenue manager or hotelier, your hotel market segmentation shall help to identify the purpose of the trip: either business or leisure. The price does not decide the market segmentation.

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Marketing Book Reservations Special Events 40

Hotel Owner

JUNE 29, 2023

Think about what attracts people to your area – is it a theme park, special event, scenery, or a pastime, such as walking, cycling or fishing? Creating a half board package may well be the answer, particularly if it includes a discounted rate on your menu prices.

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Special Events Marketing Reservations Communication 105

SiteMinder

OCTOBER 20, 2022

There was a time when hotel owners were divided in their opinion on whether Airbnb is competition to hotels and whether it affects hotel rates or not. What are the benefits of listing your hotel on Airbnb? Table of contents. Say hello to digital nomads or travellers who also work.

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Book Blog Pricing Special Events 52

Les Roches

NOVEMBER 18, 2022

Marco Cogollos fulfilled a professional dream when he was appointed General Manager of the prestigious Conrad Algarve hotel at the beginning of this year. At the end of the day you need to provide excellent guest service whether you are a three, four or five-star hotel. Getting the basics right.

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Special Events Guest Services Presentation Pricing 98

Hotel Owner

NOVEMBER 24, 2022

How did your career in hotels begin and what makes you stay in this industry? . I started as a porter in South Africa, which was followed by concierge roles doing a lot of special events and special projects, such as million-dollar golf. Previously, you’ve piloted a £6m hotel refurbishment.

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Training Concierge Special Events Housekeeping 102

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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Book Reservations Information Catering 76

SiteMinder

OCTOBER 10, 2022

As a hotel operator, you might have come across STR reports at one point or another. Staying ahead of the competition is essential to the long-term growth of your hotel. Which areas of your hotel are performing well and which do you need to improve? What does STR stand for within the hotel industry? Table of contents.

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Marketing Pricing Demo Guest Satisfaction 52

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.

Housekeeping 52

Housekeeping Guest Satisfaction Book Maintenance 52

Les Roches

APRIL 26, 2023

Businesses that primarily serve clients may prioritize building long-term relationships and providing tailored services, while those that primarily serve customers may focus more on pricing, convenience, and products. This can include corporate clients, travel agents, event planners, and other organizations requiring hotel rooms or services.

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Customer Service Definition Communication Events 52

eZee Absolute

MAY 7, 2024

But hotel revenue management can be your secret wand. It starts with setting prices but grows into a clever mix of data, technology, and understanding what your guests want. Revenue management is about more than just the right pricing. It’s about knowing your guests and setting the right price to fill your hotel.

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Pricing Book Marketing Events 52

Les Roches

JULY 11, 2023

Understanding customers and consumers in hospitality If you work in the hospitality sector, for example in hotel management , then your customers are the people who spend money with you, whether that’s buying a meal in the hotel restaurant, booking rooms or arranging a special event in the venue.

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Special Events Customer Service Marketing Hospitality Management 40

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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Guest Services Concierge Definition Customer Service 95

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. It’s not just about setting the right price, but also about adjusting it in response to market changes. Table of contents Why does hotel rate management matter?

Pricing 59

Pricing Book Marketing Events 59

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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Pricing Marketing Training Book 96

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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Book Pricing Reservations Accounting 52

Les Roches

DECEMBER 28, 2022

Hotel general manager – This involves managing all other staff and ensuring that the hotel stays profitable while meeting all the expectations of guests. Food and Beverage manager – Also known as F&B, this is managing inventory, orders, budgets, and planning of special events for restaurants, bars, and catering.

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Hospitality Management Training Communication Special Events 52

Revenue Hub

OCTOBER 28, 2022

Filling up as many rooms as possible with the most optimized pricing for each room has always been the main focus of the traditional hotelier. 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.

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Special Events Book Information Reservations 76