What Practices Make a Hotel Booking Process Effective?
Question for Our Hotel Marketing Expert Panel What Practices Make a Hotel Booking Process Effective? (Question by Thomas Dieben) Our Marketing Expert Panel Thomas Dieben - Founder, Becurious Tamie Matthews - Revenue, Sales & Marketing Consultant, RevenYou Jacopo Focaroli - CEO & Founder, The Host Kaylie Holley - Hospitality and Tourism Marketing Professional Peter Ricci - Clinical Professor and Director of Hospitality & Tourism Management Program at Florida
What is Yield Management?
Yield management is a pricing strategy commonly utilized by businesses in hospitality, air travel, and other tourism-related fields to generate maximum revenue from perishable inventory (e.g., hotel rooms or airline seats). Here, we answer the question 'What is yield management?' and explain why it is useful for hospitality hotel owners and others. Defining Yield Management In simple terms, yield management is a strategy based on selling to the right customer at the right time for
What Is RevPOR?
Revenue per occupied room, or RevPOR, is a KPI used within hotel management to assess financial performance. As a result, it can play a role in a revenue management strategy. Its main value to hotel owners is in giving them an idea of exactly how much revenue they make from the rooms they manage to sell. Table of Contents: What Does RevPOR Stand for? Why Is RevPOR Important? How Do You Calculate RevPOR? What Is
What Is RevPAR?
Revenue per available room, or RevPAR as it is usually shortened, is a KPI used within the hotel industry to assess financial and business performance. As a metric, it concerns both room revenue and occupancy rate, which makes it an important indicator of a hotel's overall performance and a valuable component of a revenue management strategy. What Does RevPAR Stand for? Essentially, RevPAR measures a hotel's average daily rate and its ability to fill rooms.
What Is RevPAR?
Revenue per available room, or RevPAR as it is usually shortened, is a KPI used within the hotel industry to assess financial and business performance. As a metric, it concerns both room revenue and occupancy rate, which makes it an important indicator of a hotel's overall performance and a valuable component of a revenue management strategy. What Does RevPAR Stand for? Essentially, RevPAR measures a hotel's average daily rate and its ability to fill rooms.
What is Revenue Management?
What is revenue management and why does it matter so much to hospitality brands? Essentially, it's a data-driven approach to anticipating demand and adjusting pricing and distribution, in order to maximize earnings. Revenue management is crucial for hotels and similar businesses, because they have fixed costs to contend with. When hotels are able to accurately forecast demand, they can take steps to ensure these fixed costs are always covered. In this article, you'll learn what
What does GOPPAR stand for?
A key performance indicator, or KPI, is a quantifiable business performance measurement. KPIs are essential for implementing a successful revenue management strategy, as it allows businesses to identify areas of success and failure, as well as trends related to demand and customer behavior. GOPPAR is one of the most important KPIs hotels use for revenue management. This article explains what GOPPAR stands for and why it is important. GOPPAR Explained GOPPAR is an acronym for
4 Website Personalization Tips for Luxury Hotels to Increase Direct Bookings
Brand identity significantly influences guests, with an even more significant impact in luxury hospitality, where brand image standards are higher. As a luxury brand, it's crucial to seduce potential guests and entice them to book on your hotel website by providing each visitor with a personalized online experience, with your
Best Practices & Examples for Hotel Website Design
From showcasing the available room types to sumptuous dining options, a well-designed and structured website serves as a virtual doorway to the experiences awaiting your guests. This article delves into best practices for crafting a successful hotel website - a channel that tells your brand story, informs potential guests about
6 Ways Your Hotel Might be Missing Revenue Opportunities
You'll probably agree that seizing revenue opportunities is more important now than ever - especially with costs increasing in every area of hotel operations and demand only recovering. Otherwise, your property's profitability could take a severe hit, and its long-term business success may be at risk. Luckily, there are many
3 Ways to Streamline Upselling Across Your Entire Hotel Chain
Once it’s in place, an automated upselling system brings countless advantages, like a more personalised guest experience, increased revenue and a more efficient workflow. Achieving these results at a single property may feel relatively straightforward. But how can you replicate them at all hotels across your chain or brand? 1.
7 ways to Optimize Your Hotel’s Distribution Strategy
Consistently placing your inventory in the most profitable channels is essential for successful distribution. Yet distribution remains one of the most complex tasks facing hoteliers. Hotel profitability is correlated directly with the deployment of effective distribution strategies, ones that are resilient and adaptable to real-time. Here are a few ways
9 Effective Ways to Improve The Guest Experience
Guest experience is everything. It's what ensures that your hotel will be remembered and a big part of whether a guest will return to stay with you again. You don't need to move mountains or even free up a large budget. The good news is that there are some really