How to Use Food and Beverage F&B Data to Increase Hotel Revenue
Food and beverage (F&B) data is considered a gold mine in the hospitality industry. From the moment your guests make an online reservation, to the time they leave your restaurant, your POS system or an advanced reservation platform generates valuable guest data. In this article, you'll learn how to use F&B data to improve guest experience, ultimately increasing hotel revenue. But first, let's look at what exactly F&B data is and why it's vital for
How To Increase Hotel Revenue With Easy Pre-Authorizations
While hoteliers know about credit card pre-authorization, many don't incorporate it into their reservation policies. Or, if they do, they leave it up to OTAs. Either way, ignoring the impact of well-managed pre-authorizations on your hotel's revenue is a mistake. Flexibility for Guests and Guarantees for Hoteliers Pre-authorizations are a temporary hold of a specified monetary amount made on a guest's credit card when they book. Some guests misunderstand them and think they're a charge,
SEO Best Practices for Hotels to Increase Direct Bookings
Travelers' online behavior has changed significantly since the beginning of the pandemic. Today, potential guests are researching and booking travel plans many months in advance and are prioritizing hotel websites with detailed and relevant information that is easily accessible to them. With this return to travel, there is also a return of online competition from OTAs and booking websites—making SEO optimization for your hotel website more crucial now than ever before. Tools of the Trade
Differing Revenue Management Strategies for New Vs Established Hotels
Question for Our Revenue Management Expert Panel: What are the recommended revenue management strategies for new hotels / resorts? How do they differ to those used by established properties? Our Revenue Management Expert Panel Dr. Betsy Stringam-Bender - Professor of Hotels & Resorts, New Mexico State University Ricardo Sereno - Revenue Manager, Altis Hotels Dermot Herlihy - Owner, Dynamic Hospitality Consulting Pablo Torres - Director Of Sales Marketing,
Group Bookings vs. Transient: How to Always Choose What’s Best for Your Property
Should you accept that group request or wait for more lucrative individual guests? This decision can significantly impact your hotel's profitability. In this article, you'll discover how to confidently assess each booking opportunity through a practical approach. Group or Transient? Why This Choice Is So Important Whether you run a boutique hotel, B&B, or small chain, every room matters. Say yes to the wrong group, and you could block high-value bookings. Say no, and you risk empty rooms and missed revenue. While filling empty rooms is important, it's also about filling them profitably. Unfortunately, guessing isn't the best approach to
Booking Insights: Level-up Your Data Game with Leadtime Analytics
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 strategies, improve forecasting accuracy and also the overall performance of the hotel. What is Leadtime
How to Write a Hotel Welcome Letter for Guests + 8 Free Templates
A hotel welcome letter is a message that guests receive upon arrival at the property. The letter may be placed in the room before the guest's arrival, sent to their room after arrival, or delivered via email or SMS. Creating a high-quality hotel welcome letter is important, because it sets the tone for the stay and allows your hotel to demonstrate a commitment to great service. The best welcome letters also provide useful information to
Hotel RMS Evolution: From Ledgers to Spreadsheets to Cloud-Based Systems
While the evolution of all hotel operational technologies has been a fascinating study, the evolution of hotel revenue management systems (RMS) has been particularly interesting, as it has gone through so many distinct and completely different phrases in a relatively short time (approximately the last ten years). RMS Transformation -
5 Signs Hotels Need a New Digital Marketing Partner
Partnering with a strong digital marketing agency can propel your property to new heights. But when that partner fails to innovate, falls short on reporting, or cannot adapt, the relationship can become an obstacle to growth. Here, you find five signs that it’s time to consider a new digital marketing
The Development of Revenue Management in the Hospitality Industry
In recent years, the hospitality industry has navigated unique challenges. As we forge ahead into 2023 and 2024, the landscape of revenue management within this sector is undergoing transformative changes. These changes, crucial for adapting to new market conditions, enhancing efficiency, and aligning with customer preferences, notably accelerate technological integration.