InnQuest

OCTOBER 17, 2023

Here’s a brief explanation of the reasons why hotel overbookings happen: Uncertain Cancellations: Hotels anticipate a certain percentage of reservations to be canceled. Revenue Maximization: In a bid to maximize revenue, hotels often accept more reservations than their actual room inventory.

Reservations 221

Reservations Guest Satisfaction Book Pricing 221

Hotelogix

APRIL 22, 2024

Importance of Analysing Hotel Data Hotel data encompasses various information, from guest bookings and preferences to revenue figures and occupancy rates. This wealth of data is pivotal for making informed decisions that boost your hotel's performance. Initially, identifying your most effective channel is crucial.

Guest Satisfaction 130

Guest Satisfaction Book Pricing Reservations 130

Revenue Hub

JUNE 13, 2023

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners One component is “dynamic pricing.” ” You’re familiar with this model when considering your rack rate vs. your bottom prices. First, consider your hotel has a pricing path. What are the bottom and starting prices?

Pricing 52

Pricing Book Events Article 52

SiteMinder

FEBRUARY 9, 2023

Sydney, Australia – Newly released data from SiteMinder, the world’s leading open hotel commerce platform, highlights the increase in outbound reservation volumes from mainland China following the country’s relaxation of travel restrictions on January 8.

Reservations 98

Reservations Book Travel and Tourism Communication 98

Revenue Hub

APRIL 2, 2024

NB: This is an article from Lighthouse (formerly OTA Insight) Subscribe to our weekly newsletter and stay up to date Here are some of the key drivers you should be able to record and find in your PMS: Market segment – The category of the market, grouping of rate codes, to which the reservation belongs, such as transient, group, etc.

Reservations 92

Reservations Book Pricing Article 92

Hotelogix

JANUARY 30, 2024

The report also covers cancellations, no-shows, and temporary reservations for the day. Hotel Guest Report This report encompasses a detailed guest history, storing every reservation, including guest names, contact information, nationality, previous stay records, and specific preferences like room choices or food and beverage selections.

Housekeeping 147

Housekeeping Reservations Budgeting Book 147

InnQuest

OCTOBER 3, 2023

Compliance with industry standards like PCI DSS ensures that sensitive financial information is protected. Real-time Updates: Thereafter, integration with property management system s (PMS) provides real-time updates on room availability and pricing. These insights inform pricing and marketing strategies, optimizing revenue management.

Guest Satisfaction 221

Guest Satisfaction Information Property Management Blog 221

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

InnQuest

JANUARY 23, 2023

Direct bookings are reservations made directly with the hotel rather than through a third-party online travel agency (OTA). With custom booking engines, you can create an effective reservation flow that can increase conversions. Metasearch platforms lead users to your website, where they can directly make reservations for their travel.

Book 218

Book Reservations Concierge Blog 218

Modern Restaurant Management

OCTOBER 20, 2023

2023 brought new challenges to the table for the restaurant industry, from rising food prices due to inflation to continued disruptions in the supply chain. But, according to the same report, about 40 percent of consumers agree that with rising grocery store prices, it’s not necessarily cheaper to eat at home.

Marketing 197

Marketing Information Budgeting Reservations 197

InnQuest

MARCH 2, 2023

For example, you can use a property management system (PMS) to manage your reservations, guest information, and room assignments. Our software solutions come with competitive pricing while retaining their quality and functionality. At InnQuest, we aim to deliver top-notch hospitality management software.

Customer Service 224

Customer Service Training Guest Satisfaction Property Management 224

OpenTable

APRIL 23, 2020

OpenTable’s software has always enabled restaurants to connect with diners to manage reservations, prepare for shifts, and maximize table availability. Locations that have never taken reservations may find themselves looking for ways to manage capacity. Second, big price cuts for 2020. … Read more.

Pricing 105

Pricing Reservations Book Marketing 105

Revenue Hub

SEPTEMBER 5, 2023

This system enables hoteliers to keep track of available rooms, reservations, and occupancy rates in real-time. By having accurate and up-to-date information, hotels can avoid overbooking, allocate rooms more effectively, and provide guests with a seamless check-in experience.

Pricing 97

Pricing Reservations Training Article 97

Boutique Hotel News

DECEMBER 12, 2022

Worldwide: Hotel management system RoomRaccoon has integrated with Cendyn’s Pegasus Central Reservation System (CRS) to enable hotels distribute rates, availability and inventory on global distribution systems. Steven Reffin, head of partnerships at RoomRaccoon, added: “We are excited to welcome Cendyn’s Pegasus CRS to our marketplace.

Reservations 130

Reservations Information Events Property Management 130

InnQuest

MARCH 3, 2023

With this information, hotels can provide a more personalized guest experience. This can include anything from housekeeping services to restaurant reservations. Additionally, the software can send automated emails or text messages to guests, such as confirmation of their room reservation or updates on their stay.

Communication 218

Communication Reservations Housekeeping Property Management 218

STAAH

FEBRUARY 14, 2024

In the dynamic landscape of the hospitality industry, efficient management of room inventory, rates, and reservations is paramount for success. A Central Reservation System (CRS) stands as the nerve center of a robust hotel distribution strategy. Benefits What is CRS?

Reservations 88

Reservations Book Guest Satisfaction Pricing 88

Hotelogix

JANUARY 18, 2024

Use this information to offer personalized services and run targeted promotions and loyalty programs.  Features of a booking engine you need to look for  A robust booking engine is about more than just accepting reservations. Hotel PMS integration: Guests appreciate up-to-date information.

Book 130

Book Catering Guest Satisfaction Reservations 130

Revenue Hub

JANUARY 30, 2024

In the modern hospitality industry , hotels receive reservations from many places, online and off. The source of a reservation is known as its booking source, and all hotel booking sources fall into one of two primary categories: direct and indirect sources.

Book 79

Book Reservations Article Scheduling 79

InnQuest

OCTOBER 25, 2023

Initially, basic chatbots were utilized for answering common inquiries, supplying fundamental hotel details, and facilitating room reservations. Present-day hotel chatbots can assist guests with a range of services, including reservation bookings, room service orders, local activity recommendations, and information about nearby attractions.

Guest Satisfaction 130

Guest Satisfaction Reservations Book Information 130

STAAH

JANUARY 16, 2024

A few small but powerful tweaks to your overall pricing strategy can make a dent to your revenue. Attractively pricing these or combining with room booking to create packages can bump up your revenue quickly. Switch to dynamic pricing. Dynamic pricing is a modern hotelier’s most effective strategy for revenue management.

Pricing 85

Pricing Book Reservations Training 85

Revenue Hub

OCTOBER 10, 2023

Another exciting key technology component for the hotel industry is GIS – Geographic Information Systems which enables hotels to compile geographic information to target and enhance their marketing efforts. As technology evolves machine learning continues and the human element is still key.

Information 103

Information Reservations Pricing Events 103

SiteMinder

APRIL 28, 2024

Conversely, at 21 days, the average lead time on those bookings was 62% lower than the global average, reflecting the low price sensitivity among Chinese travellers and their greater propensity to take trips at shorter notice.

Marketing 110

Marketing Book Pricing Information 110

Revenue Hub

SEPTEMBER 6, 2023

Connecting a Central Reservations System (CRS) with Google ads works as a force multiplier for marketing campaigns. Urgency messaging : Businesses can set up messages showing the number of people who booked in the last few hours, the starting price, the number of rooms left, price lasting until certain time, and so on.

Book 80

Book Budgeting Reservations Article 80

Revenue Hub

MARCH 13, 2024

NB: This is an article from Flyr for Hospitality , one of our Expert Partners Subscribe to our weekly newsletter and stay up to date We spoke with Revenue Manager Alex Löw about how FLYR for Hospitality has helped revolutionise Tailormade’s pricing process. My pricing focus was never more than the next 14 days at each property. “We

Pricing 95

Pricing Article Catering Reservations 95

Modern Restaurant Management

JULY 28, 2022

Customer data is only one segment of the information you need for good sales insights, marketing information, and business analytics. There are three main types of information your restaurant should collect: Customer Information. Customer information is the personal information of each of your customers.

POS Systems 208

POS Systems Information Accounting Reservations 208

Revenue Hub

MARCH 4, 2024

OTAs are offering guests the best of both worlds: lots of information about properties, pricing comparisons and real guests reviews. While OTAs provide hotels with bookings, they also come with a commission fee that hotels have to pay for each reservation. What is the impact of OTAs on hotels?

Book 81

Book Communication Reservations Article 81

Revenue Hub

SEPTEMBER 11, 2023

Efficient inventory management tools can lead to cost savings by preventing wastage of resources, reducing overstocking of perishable items and minimizing the need for last-minute purchasing at higher prices. It should provide real-time updates on room availability, reservations, and guest information.

Pricing 101

Pricing Guest Satisfaction Article Book 101

Revenue Hub

JUNE 7, 2023

By facilitating direct bookings, hotels can avoid commission fees and have more control over their pricing, promotions, and guest relationships. Furthermore, a booking engine can enable upselling and cross-selling opportunities by showcasing additional services, such as spa treatments or restaurant reservations, during the booking process.

Book 81

Book Guest Satisfaction Pricing Reservations 81

Revenue Hub

AUGUST 24, 2023

Hoteliers and marketing executives in the hotel industry are faced with a multitude of challenges, including budgeting, marketing decisions, selecting appropriate distribution channels, and proper pricing. This enables informed decisions and targeted enhancements to marketing and sales strategies. ” need to be answered.

Pricing 85

Pricing Budgeting Article Reservations 85

SiteMinder

FEBRUARY 13, 2023

days, while Mexican reservations were the longest year round, followed by those made to Portuguese, Thai and Spanish properties. Despite the average daily rate (ADR) of a hotel room rising 24% year-on-year to US$177, booking momentum remained robust, with reservation volumes rising to 104% of 2019’s levels globally by December 31.

Reservations 52

Reservations Book Travel and Tourism Marketing 52

SiteMinder

MAY 24, 2022

Bangkok, Thailand – Pioneering co-living brand, HOMA, has engaged SiteMinder, the world’s leading open hotel commerce platform, to help elevate its distribution strategy and make it easier for guests to book directly online, as reservation volumes to Thai properties extend above 75% of their pre-pandemic levels. Investor information.

Reservations 52

Reservations Book Marketing Pricing 52

InnQuest

OCTOBER 5, 2022

These platforms offer multiple benefits for the price paid, including marketing and exposure to global markets. The most profitable of the three is direct hotel bookings i.e. wherein guests directly reach out to the hotels for all accommodation-related queries and make a reservation. . Expert Tips To Increase Direct Hotel Bookings.

Book 217

Book Pricing Reservations Information 217

Revenue Hub

JANUARY 27, 2023

The hotel booking engine typically allows customers to search for available rooms based on various criteria, such as date of stay, number of guests, room type, and price. The booking engine acts as an intermediary, allowing customers to search for and compare products, make reservations, and complete transactions online.

Book 83

Book Reservations Information Article 83

Revenue Hub

APRIL 4, 2024

The loyalty programs of the largest hotel brands in the world, such as Marriott, Hyatt and Hilton, all share a common functionality: “book & join” or the ability to join the loyalty program while making the first reservation and without diverting to a different funnel where there is a greater chance that your guest will drop out.

Book 93

Book Pricing Article Reservations 93

Hotel Owner

MARCH 12, 2024

For further information and to reserve a place: [link] Other data will explore design trends in an election year, lessons from market transactions and case studies exploring new trends in the hotel market. Hotel Owner members are invited to attend the Hotels forum and will receive a 15% discount with the code HOTELOWNER15.

Marketing 59

Marketing Reservations Brand Management Pricing 59

SiteMinder

JUNE 22, 2023

The trend is partially explained by the grown demand seen among international travellers, who account for 55 percent of all reservations made to Spanish properties this month-to-date, compared to 53.6 After enduring the challenges of recent years, Spain’s accommodation industry is the most ready it has ever been to accept these reservations.

Travel and Tourism 98

Travel and Tourism Reservations Book Pricing 98

Revenue Hub

DECEMBER 7, 2023

It often involved receiving a tourist information guidebook with basic hotel descriptions and phone numbers only. Implement dynamic pricing based on local events, demand, and season. Build guest trust with transparent reservation and cancellation policies. Some of us still remember booking hotels before the digital age.

Communication 95

Communication Book Reservations Article 95