Booking Extranet: 10 Strategies to Increase Your Revenue on Booking.com
The Booking Extranet is a management platform associated with Booking.com, one of the world's most popular online travel agencies. In this article, you can learn more about Booking.com and its extranet, along with strategies and tips to help you generate more bookings through the service. Table of Contents: What is an OTA? What is Booking.com? What is the Booking.com Extranet? What Are Exclusive Booking.com Partner Programs? Genius Partner Preferred Partner 5 Main Extranet Strategies to
Tips for Maximizing Revenue Potential Before Opening a New Hotel
Opening a new hotel or resort property is thrilling and daunting. Wherever you are on your new hotel journey, it's never too soon to assess your revenue optimisation needs. Your new hotel's revenue management approach will play an impactful role at every stage of development, from staffing decisions to tech budgets to sales, marketing, and distribution tactics. Pre-Opening Considerations Given the rapid change in modern market conditions, hotels and resorts should develop a comprehensive commercial
How Often Should Hotels Update Their Pricing?
Question for Our Revenue Management Expert Panel: Are Revenue Managers updating prices too frequently or not often enough? Both pose risks, especially for last minute sales. When is the best time to update prices? (Question proposed by Nikhil Roy)Â Our Revenue Management Expert Panel Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Chaya Kowal - Director of Revenue Management, Potato Head Family Krunal Shah - Cluster
Why NFT Technology is the Next Marketing Trend in the Hospitality Industry
Non-fungible tokens, or NFTs, are emerging as one of the most significant marketing trends, and NFT hospitality offerings are also growing as businesses come to recognize their full potential. In this article, you can learn about NFTs, their advantages, their marketing potential, and their specific uses within hospitality. Table of Contents: What is a Non-Fungible Token (NFT)? NFT Hospitality Offerings and the Metaverse Why NFTs Are Great Marketing Tools for the Hospitality Industry What Are
The Basics of Revenue Management Explained!
Revenue management is concerned with optimizing financial results and is especially popular in industries like hospitality, which must contend with high fixed costs and a perishable inventory. For example, hotels have a certain number of rooms and fixed costs, which must be met regardless of how many rooms are sold. In such industries, revenue management predicts demand and optimizes inventory and price availability. When utilized correctly, this will ultimately result in higher revenue. Table of Contents: History of Revenue Management What is Revenue Management? Necessary Conditions for Revenue Management Revenue Management vs. Yield Management The Importance of Revenue Management All
Five Rate Mistakes in Revenue Management and How You Can Solve Them
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 revenue manager, focusing entirely on pricing can inadvertently lead your hotel off course, resulting in
Getting Started with AI: A Step-by-Step Guide for Hoteliers
Adopting smart technology and artificial intelligence (AI) in the hotel industry has been a growing trend in the last few years, accelerated by the COVID-19 pandemic and subsequent staff shortages. Tools that enhance operational efficiency and appeal to guests are becoming increasingly popular - but how do you start choosing one that suits your hotel brand best? Catch up with AI to Avoid Staying behind Your Guests' Expectations According to a recent report by PwC,
Airline Revenue Management: What is It, How Does it Work & Examples
Given the volatility of demand and the high fixed costs involved in operating commercial flights, it's no surprise that the airline industry has always been at the forefront of revenue management. Commercial airlines were some of the first companies to analyze consumer behavior and tailor their prices to the information.
All-Inclusive Resorts: Successful & Effective Marketing Strategies
All-inclusive resorts can appeal to guests through convenience and value for money, but using the right marketing strategies is essential. In this article, you can learn about all-inclusive resorts, learn about the different customer groups to focus on, and explore the most effective marketing strategies to deploy. Table of Contents:
How Would You Guide Hotels Trying to Convey Inclusion Via Marketing?
Question for Our Hotel Marketing Expert Panel How Would You Guide Hotels Trying to Convey Inclusion Via Marketing? Our Marketing Expert Panel Dustin Caromano – Director of Marketing and eCommerce, Première Advisory Group Cory Falter - Partner and Visionary at Lure Agency Linda