You probably already know that adjusting your room rates based on demand fluctuations can boost your revenue. But have you ever thought of applying this approach to upselling? And what about taking things yet another step further and using the principles of open pricing on upselling as well? Keep reading to discover how these techniques can take your revenue strategy
As a hotelier, you know your hotel faces unique revenue management challenges. Your location, primary types of travelers, and the season of the year all play into profitable pricing strategies. This article addresses specific ways to improve your revenue and profitability, regardless of location or seasonality. Revenue Management Tips for Beach, City, Mountain, or Countryside Hotels Some of these tips
With 40% of Americans traveling more in 2024 (1), the hospitality industry has seen a significant surge in demand. This uptick in travel presents a golden opportunity for hotels to increase revenue — but to capitalize, they must differentiate themselves in a crowded market. In this article, you’ll learn how hotels can use technology to offer a better guest experience. From
Time is money, especially in event management, where every minute counts. Operational efficiency can be the difference between a smoothly run event and one filled with chaos and missed opportunities. In an industry that demands precision and quick responses, having the right tools to save time is invaluable. By optimizing your operations with advanced event management software, you can streamline
The hospitality industry, defined by its dynamic nature and customer-centric operations, faces complex challenges that range from operational efficiency to enhancing guest experiences. Hotel teams need to excel at repetitive mundane tasks as well as those requiring sublime care and creativity. As technology evolves, artificial intelligence (AI) stands out as a transformative tool, offering solutions that address these challenges while
Social media strategy can be a beast for marketing teams to manage. Every few months there are game-changing updates, and every day seems to bring a new trend or tool to consider, but change isn't the only constant in digital marketing. Here are seven social media truths from high-performing hotel marketing teams. 7 Social Media Truths from Top Hotel Marketing
Hotel budgeting season is right around the corner, and many hoteliers are getting ready to roll up their sleeves and start making tough financial decisions as they look to align investment priorities with next year’s budget projections. This is often a challenging and time-consuming process, but it’s also an opportunity to think through a strategic vision and evaluate the tools
As the hospitality industry continues to evolve, it is crucial for hospitality businesses to stay head of the latest legislation impacting their operations. One critical law that all hoteliers should be aware of is the European Accessibility Act (EAA). The EAA is a landmark EU directive that establishes common accessibility requirements for a wide range of products and services. With
In this interview, we're speaking to Revenue Team by Franco Grasso's founder and CEO, Franco Grasso. Under Grasso's guidance, the company has grown into Europe's largest hotel revenue management consulting and outsourcing entity. His company assists hoteliers in maximizing revenue through optimized sales of hotel rooms while promoting efficiency and quality. Can you
Among the data and metrics available to you, Leadtime Analytics stands out as a powerful tool in Revenue Management and Marketing. When you understand at a detailed level the period between when a booking is made and the guests check in across all the different dimensions such as Segment, Channel, Country, Promotion, and more, you can develop more effective pricing
IHG Hotel Brands (InterContinental Hotels Group) encompass various hospitality options within over one hundred different countries. Because of its significance, as you learn about IHG you learn about the larger hotel ecosystem as a whole. Understanding the IHG hotel brand is especially important because of its wide reach. The full scope of the IHG encompasses such important and diverse options
In the highly competitive hospitality sector, venues must continually innovate to attract and retain clients. By adopting a strategic approach that caters to diverse client needs and streamlines operations, venues can enhance their market position and drive sales. This article delves into five effective strategies that incorporate industry insights, aiming to maximize your venue's potential. 1. Establish a Comprehensive Online
Most independent hoteliers are used to juggling more with less dedicated resources, but effective revenue management—and the tools that enable it—should not be written off as exclusively a "big brand" or "large hotel" concern. What Is a Revenue Management System? Among the technologies typically used by hoteliers, revenue management systems (RMS) are uniquely positioned to have an outsized impact on
For hoteliers, making payments effortless and secure is essential to maintaining a positive guest experience and operational efficiency. Integrated payment solutions connect your payment gateway to your other hospitality software, providing a frictionless transaction experience that helps hotels boost revenue and streamline operations. Integrated Vs. Non-Integrated Payment Solutions The differences between using an integrated payment solution and a non-integrated one
Personalized digital marketing is a proven approach for increasing direct bookings and growing revenue, but personalization isn't a "set it and forget it" strategy. Here's how to evaluate your marketing personalization program, and how to pivot when the metrics don't meet your expectations. Personalization is Important for Elevating Guest Experiences. Travel is personal. It doesn't matter whether the purpose for
The road from research to booking is not exactly straightforward for today’s travelers. The competition is fierce for hoteliers, and so is the pushback from OTAs. It’s crucial for hoteliers to optimize their booking funnel so that the transition from research to booking feels smooth and natural for guests. 5 Ways to Overcome the Booking Funnel Bottlenecks The booking funnel
72% of travelers use metasearch engines in their booking journey! Google Hotel Ads (GHA) is a powerful metasearch solution for hoteliers looking to attract more guests and elevate their direct bookings and visibility. Whether you're a seasoned hotelier looking to enhance your direct bookings or a newcomer to the world of digital marketing, this guide will provide you with the
Ask any hotel staffer not directly involved in revenue management about the daily tasks of a revenue manager, and they'll likely suggest it's all about 'setting' or 'raising rates.' While these activities are indeed crucial, they often eclipse the comprehensive analysis that underpins each pricing decision. Five Rate Mistakes in Revenue Management and How You Can Solve Them As a