Revenue Hub

JULY 11, 2023

Subscribe to our weekly newsletter and stay up to date Demystifying Revenue Management At its heart, revenue management is a strategic toolkit in the hotel industry that allows businesses to forecast consumer behavior, optimize product availability, and fine-tune pricing to maximize revenue growth.

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Revenue Hub

APRIL 11, 2023

Still, it is one of the most critical decisions hoteliers can make to improve profitability and boost reservations. Marketing systems collect information about guests, and the hotel PMS has all the information about the reservations, which reflects guest behavior. Distribution is complex and will not be uniform for all structures.

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Synergy Suite

DECEMBER 7, 2023

Revenue per seat represents the average income generated for each occupied seat within a specified timeframe, offering a nuanced perspective on customer spending patterns and the effectiveness of pricing strategies. It helps you identify trends, measure the impact of pricing changes, and assess the success of marketing initiatives.

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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. The next step is deciding how you can maximise your offering.

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SiteMinder

OCTOBER 5, 2023

Comprehensive tools : From managing reservations to enhancing the guest experience, Expedia Partner Central provides a range of tools tailored to the needs of hoteliers. This section lets you adjust room rates, offering flexibility in response to changing demand or special events.

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eZee Absolute

AUGUST 31, 2022

Be strategic about the pricing. Host a special event. Offering discounts and packages quickly draw travelers into your hotel, intrigues them to make a reservation, and help you boost occupancy. Have you seen those discounted prices on banners where a higher price is always struck out? Host a special event.

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SiteMinder

NOVEMBER 30, 2023

Stay on the cutting edge with SiteMinder Automated listing updates, tailored offers, in-depth competitor pricing insights and more, SiteMinder offers users the latest in hotel management technology. Revenue management systems Revenue Management Systems (RMS) employ data analytics to predict demand, optimise pricing, and maximise revenue.

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Xotels

JANUARY 18, 2021

The price does not decide the market segmentation. Segment by default the individual bookings for short midweek stays as business, and identify as leisure reservations of double rooms over the week-end. You may want to introduce sub-segments such as your pricing points such as BAR and how yieldable the segment is.

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Synergy Suite

APRIL 11, 2023

Promoting special events, discounts, or new menu items through your website helps generate buzz and attract customers and retain loyal ones. Provide detailed descriptions, attractive food photography, and pricing information to give potential customers a taste of what they can expect.

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Les Roches

DECEMBER 30, 2023

This involves several key aspects: Check-in and check-out : smooth and efficient check-in and check-out processes are crucial to making guests feel valued and at ease Concierge services: hotels frequently offer concierge services to help guests with reservations, travel arrangements and local recommendations Room amenities and housekeeping : these (..)

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7 Shifts

NOVEMBER 9, 2022

Get holiday reservations? Special events such as birthdays and anniversaries also show how much you care about them. For example, if you are sending a newsletter with the goal of getting more restaurants bookings, you can do the following: Share a discount, event, or special menu in your newsletter message.

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Synergy Suite

OCTOBER 5, 2023

This could include renting out space or property to other businesses or for events, any sort of income generated from membership or loyalty programs, income generated from partnerships or joint promotions, or income from catering services that are above and beyond the price of just the food.

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Lithos POS

DECEMBER 19, 2023

In the front-of-house, he is responsible for customer service, reservations, and the overall dining experience. The kitchen manager is involved in decisions related to ingredient costs, menu pricing, and kitchen budgeting. He has duties in both the front-of-house and back-of-house operations.

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SiteMinder

OCTOBER 10, 2023

The result gives hotel managers an idea of how many rooms they can still sell, allowing them to make informed decisions about pricing, promotions, and distribution. The importance of forecasting in the hotel industry You need to use forecasting at your hotel to inform your pricing and revenue strategies. Special events & holidays.

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Synergy Suite

NOVEMBER 2, 2023

Monitor overtime expenses and the use of additional labor resources during peak times or special events. By staying proactive with regular wage analysis, restaurants can make informed decisions about menu pricing adjustments and operational efficiencies to counterbalance the impact of rising labor costs.

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SiteMinder

DECEMBER 7, 2023

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. Higher occupancy rates : Pricing rooms correctly plays a pivotal role in driving occupancy.

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SiteMinder

AUGUST 29, 2023

Host events and functions Similar to the last point, if you have the space to host special events you should do so. Don’t put all your eggs in one basket Statistics from HSMAI show 76% of independent hotel room nights are reserved through OTAs, costing hotels billions in commissions every year.

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Revenue Hub

OCTOBER 17, 2023

Where was the value for the price paid? I appreciate it is a tough time and the recovery post COVID-19 takes time, but prices continue to increase while service and value may not keep pace. Customer demand: guests who are willing to pay different prices. These data can include traffic counts, special events, airport access etc.

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Modern Restaurant Management

JANUARY 26, 2022

On Valentine’s Day, restaurants fill up quickly with reservations from couples eager to spend a romantic night together. Holidays provide restaurants with the opportunity to capitalize on the special moment by offering specials, events, and so much more exclusive to the holiday. Create a Prix Fixe Menu.

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Revenue Hub

OCTOBER 28, 2022

NB: This is an article from RealTime Reservation. Develop innovative packages, such as girls day by the pool, special occasion, bachelor, or bachelorette packages. Most importantly, empower the guest to personalize and reserve in advance. Let potential guests learn about your amenities and reserve and customize their stay.

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Revenue Hub

AUGUST 22, 2023

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. As The American Hotel & Lodging Association 2022 State of the Hotel Industry Report in Collaboration with Accenture reported, hotels are still recovering from a collective $111.8

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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. NB: This is an article from Agilysys. Subscribe to our weekly newsletter and stay up to date. billion in room revenue lost in 2020 and 2021.

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