In-stay Upselling: Why You Should Use It and How to Maximize Deals
In addition to pre-stay upselling, in-stay upselling allows hoteliers to unlock another dimension that leads to enhanced revenue and guest satisfaction. In-stay upselling reminds guests of services they might have missed when booking their room and allows them to book these deals throughout their stay. What Are the Benefits of In-stay Upselling? Below you will find 3 benefits of in-stay upselling. 1. Make The Most Out of Your Hotel's Upselling Potential The reality is that
Have Lodging Businesses Outgrown The Original PMS Concept?
The property management system (PMS) is the most important part of a lodging business’s technology stack – no matter the property type or size. A PMS is used on a daily basis across teams to streamline operations and manage data. But are lodging businesses starting to outgrow the PMS? The Original PMS Has Been Slow to Evolve The hotel PMS was initially designed to include core functionality for managing workflows for front and back-office operations.
How Have Guest Behaviour Trends Changed in 2022?
Question for Our Revenue Management Expert Panel: What top changes in guest behaviour trends have Revenue Managers observed in 2022? How have they evolved during the year? (Question proposed by Chaya Kowal)Â Our Revenue Management Expert Panel Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Sandra Gannon - Commercial Consultant, Revenue Puzzle Pablo Torres - Director of Sales & Marketing, Alannia Resorts Nikolas Hall - Owner,
Revenue Management System: The Ultimate Accelerator for Your Hospitality Business
Whether you're balancing a full plate of work priorities, searching for ways to maximize your revenue, or looking to gain better control over the fluctuating demands of the hospitality industry, a revenue management system (RMS) offers a comprehensive solution. Revenue Management is a Rapidly Growing & Changing Field More than anything, an RMS helps you manage times of uncertainty. And with labor shortages and inflation complicating the hospitality industry further, it is more crucial than
An Overview of Metrics Every Revenue Manager Should Track
Navigating the complexities of hotel revenue management isn't easy. From demand forecasting and rate negotiations to inventory management and competitor analysis, there are plenty of challenges to keep revenue managers on their toes. But technology is changing the game. Today's revenue managers have powerful tools at their disposal that can help them streamline operations and focus on strategic optimization. The one-dimensional metrics that were used for decades are being replaced by more sophisticated measures that, until now, would have been too time-consuming to calculate. In this article, you'll find the new generation of metrics that every hotel revenue manager should
14 City Marketing Strategies to Attract More Travelers
Effective city marketing strategies can assist local governments, tourist boards, hotels, travel companies, and other businesses by helping to attract more travelers to the city in question. In this article, you will learn more about city marketing, what it entails, and some of the main techniques that can help you boost tourism. Table of Contents: What is City Marketing? Why is City Marketing Useful and Important? What is the Difference Between City and Destination Marketing?
The Most Used Revenue Management KPIs for Hotels
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 you. Table of Contents: What Are Revenue Management KPIs? Most Used Revenue Revenue Management KPIs
Hotel Front Desk Software: What Is It, Main Features & Examples
Hotel front desk software describes any software designed to assist with front office tasks. This includes several different types of software, including property management systems and point-of-sale systems. In this article, you can explore these software types in greater depth, learn about key features, and understand the key benefits. Table
Hotel Business Plan: Write a Successful and Effective Hotel Business Strategy Plan
A hotel business plan is essential for anyone starting a new enterprise in the hotel industry. A business plan is a document that identifies your goals, objectives, and success strategies. It will be the foundation for your new operation. In this article, you'll learn how to create a detailed and
Hotel Automation: Benefits, Tools, and Trends
You probably already use hotel automation to some degree. Most hotels use online booking, and most have adopted property management software. However, these are just the tip of the automation iceberg. In this article, you'll discover a range of tools and trends in hotel automation and learn how they can