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Hotel Industry

Types of Hotels: Exploring Classifications and Hotel Types

2024-08-19T18:08:13+02:00

The types of hotels available to customers range from full-service and chain hotels, through to boutique hotels, lodges and inns. Hotels are generally categorized based on facilities, features and marketing. Hotel options are important because the various market segments will have different needs, preferences and budgets. Hoteliers can also identify a gap in the local market and shape their hotel

Types of Hotels: Exploring Classifications and Hotel Types2024-08-19T18:08:13+02:00

Total Revenue Management: How Hotels Can Maximize Their Revenue

2024-06-06T13:25:57+02:00

Total revenue management is broadly defined as managing each revenue source to the highest profitability. By incorporating multiple revenue points of sale like food and beverage, banqueting and conferencing facilities, spa, retail, leisure activities, and others with room revenue management, total revenue management assists hotels in achieving their goal of increasing revenue and profitability in a competitive market. Table of

Total Revenue Management: How Hotels Can Maximize Their Revenue2024-06-06T13:25:57+02:00

Restaurant Management Systems: Overview, Key Aspects and Features

2024-06-06T13:48:37+02:00

Restaurant management systems are a type of restaurant management software intended to assist with the tasks associated with the day-to-day management of a restaurant or similar business. In this article, you can learn about what the technology does, the main features, and the different components that make up a sound system of this kind. Table of Contents: What Is Restaurant

Restaurant Management Systems: Overview, Key Aspects and Features2024-06-06T13:48:37+02:00

Hotel Marketing Plan: Tips & Tricks for Successful Hotel Marketing

2024-06-07T12:48:26+02:00

A hotel marketing plan is important for establishing your marketing objectives, outlining how to achieve them, understanding your target audience(s), and pinpointing your unique selling proposition. In this article, you can learn more about how to create and continually modify your marketing plan. Table of Contents: What is the Hotel Industry? What is a Hotel Marketing Plan? Why is a

Hotel Marketing Plan: Tips & Tricks for Successful Hotel Marketing2024-06-07T12:48:26+02:00

Open Pricing: Why Is It the Next Hotel Revenue Management Strategy

2024-06-07T13:13:34+02:00

Open pricing is an increasingly important strategy for increasing hotel revenue. It allows hotels to target various customers across different budgets, maximizing revenue and raising occupation levels all year round. With open pricing, rates, and services can be pitched optimally to ensure maximum uptake without compromising quality. In this article, you'll learn how this pricing strategy can work for you.

Open Pricing: Why Is It the Next Hotel Revenue Management Strategy2024-06-07T13:13:34+02:00

Revenue Management Consulting; Benefits of Hiring a Consultant

2024-06-07T12:06:24+02:00

It is becoming increasingly common for hotel owners and others in the hospitality industry to acquire revenue management consulting services to optimize prices, distribution, and occupancy rates and maximize financial results. These services will often be acquired from a revenue management consulting firm. In this article, you will learn about the benefits of enlisting a revenue management consultant for your

Revenue Management Consulting; Benefits of Hiring a Consultant2024-06-07T12:06:24+02:00

5 Essential Video Marketing Tips for Hotels

2024-06-06T12:17:09+02:00

Videos are an undeniably powerful marketing tool, especially for the hotel and travel industry. After all, they can capture the attention of the audience much quicker than text and have the power to generate extremely high traffic to your website. No wonder video marketing has taken the Internet by storm. This effective tool is so versatile that you can use

5 Essential Video Marketing Tips for Hotels2024-06-06T12:17:09+02:00

15 Revenue Management Strategies to Grow Your Hotel Business

2024-07-16T19:16:45+02:00

For hotel owners looking to grow their business, a robust revenue management strategy is of the utmost importance, helping to optimize business results. However, under the broader revenue management umbrella, many smaller strategies can help to facilitate growth. In this article, find 12 revenue management strategies that hotel industry employees can employ to achieve this ultimate objective. Table of Contents

15 Revenue Management Strategies to Grow Your Hotel Business2024-07-16T19:16:45+02:00

Revenue Management vs Yield Management

2024-06-05T14:53:16+02:00

Within the hotel industry, revenue and yield management are two of the most useful tools available to managers, allowing them to maximize the money they make from guests. Although the two concepts are closely linked and share a lot of similarities, there are some important differences too. In this blog post, we explain the differences and compare the two strategies

Revenue Management vs Yield Management2024-06-05T14:53:16+02:00

Revenue Management System (RMS): What Are the Advantages?

2024-07-12T11:51:06+02:00

A revenue management system is a software solution that allows hospitality brands to carry out various revenue management activities. For instance, the software makes it easier to forecast changes in demand and optimize pricing. Revenue management systems provide hotels and similar businesses with a number of major advantages, including improved accuracy and efficiency. It's important for business leaders to understand

Revenue Management System (RMS): What Are the Advantages?2024-07-12T11:51:06+02:00

What Is Hotel Revenue Management?

2024-05-30T16:12:33+02:00

For those operating in the hotel industry, revenue management is a key concept, as it enables hotel owners to predict levels of demand and optimize things like distribution and pricing in order to maximize financial results. In this article, you will learn more about hotel revenue management, why it is so valuable to hotel owners, and the necessary conditions for

What Is Hotel Revenue Management?2024-05-30T16:12:33+02:00

The Most Used Revenue Management KPIs for Hotels

2024-06-05T14:41:53+02:00

A key performance indicator can provide revenue managers and hotel owners with valuable information about their business performance. This subsequently has the benefit of allowing them to implement a revenue management strategy so that they can maximize financial business results. In this post, we look at some of the most widely utilized revenue management KPIs and how they can help

The Most Used Revenue Management KPIs for Hotels2024-06-05T14:41:53+02:00

How Can a Hotel Marketing Company Boost Your Hotel’s Revenue?

2024-06-06T12:13:53+02:00

In the highly competitive hotel industry, optimizing revenue means attracting plenty of attention and generating the right levels of interest from customers. Marketing plays a key role here, and while many hotels handle this internally, others opt to outsource their marketing efforts to a dedicated hotel marketing company. This article will teach you more about hotel marketing and how a

How Can a Hotel Marketing Company Boost Your Hotel’s Revenue?2024-06-06T12:13:53+02:00

STR Report: Introduction Guide for Hoteliers

2024-10-18T16:18:01+02:00

An STR report, sometimes known as a STAR report, is a weekly, monthly, or annual report that serves as a benchmarking tool, helping you to understand your hotel's performance within the context of rival hotels. In this guide, you can learn what an STR report is, how it works, what it can offer, and how to use it to your

STR Report: Introduction Guide for Hoteliers2024-10-18T16:18:01+02:00

12 Revenue Management Tips for Hotels

2024-06-05T15:08:36+02:00

Revenue management within the hospitality industry involves predicting consumer demand to optimize sales, allowing businesses to sell at the right price to the right customer at the right time. In a hotel, this may mean turning away business now to do more profitable business tomorrow. When carried out correctly, revenue management can be extremely effective, helping companies significantly boost their

12 Revenue Management Tips for Hotels2024-06-05T15:08:36+02:00

Learn How Breakfast Service Can Be a Profit Center for Your Hotel

2024-04-02T13:04:21+02:00

OTAs show "breakfast included" as a primary search filter for hotel guests. It's not surprising that guests want to maximize their time and energy by enjoying breakfast within the hotel. It's one less decision they need to make. In this article, you'll see how thinking of breakfast as a profit center – setting, food, service, environment – impacts your hotel's

Learn How Breakfast Service Can Be a Profit Center for Your Hotel2024-04-02T13:04:21+02:00

4 Tips for a Smart Overbooking Approach

2023-12-29T16:31:28+01:00

While data certainly supports the practice under the right circumstances, overbooking is a subject that can easily put hotel staff on edge without careful implementation. No one is thrilled by the prospect of needing to relocate or “walk” a guest to another property because a statistically likely cancellation never materialized. 4 Useful Tips for a Smart Overbooking Approach Plenty can

4 Tips for a Smart Overbooking Approach2023-12-29T16:31:28+01:00
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