How to Measure The ROI of Your Revenue Management System?
The revenue management system (RMS) plays a vital role in the modern hotel technology stack, driving greater profitability and efficiency. Still, the demonstrating return on investment (ROI) in a hotel’s revenue management technology investment goes deeper than year-over-year RevPAR uplift measurements. Understand the True Impact of Revenue Technology The additional revenue from properly utilizing revenue management software and strategies directly impact a hotel’s bottom line, making it a valuable tool for increasing a hotel’s valuation
Learn How to Maximize Your Premium Hotel Room Revenue
Do you put your Premium Rooms on a pedestal? A more nuanced approach will yield more revenue. Suites are a peculiar thing within the hotel industry. They are, after all, just hotel rooms for rent. But some hoteliers are very attached to what their premium represents–the hotel's very best. In a way, these special rooms are protected. Some hotels may not even yield the biggest and best room rates. In this article, you'll learn how
9 Tips to Manage Online Hotel Reviews
While revenue management relates more to selling your product to the right person at the right time through the best distribution channels, online reviews are a rudimentary but equally important link that can't be ignored. A handful of poor reviews can have massive implications on your business, leading potential guests to look elsewhere for accommodation. A visible selection of positive reviews, on the other hand, gives your business an unmistakable hallmark of quality. When managing
How to Make Effective Upselling Part of Your Hotel’s Culture?
In hospitality, you’re always trying to do just a little bit better, both in terms of the experience you offer guests and the revenue you generate. Implementing new ideas and making them part of your property’s culture can seem challenging. But with the right training, it’s easier than you may think. In this piece, you’ll learn how to use a modern approach to staff development to encourage your team to tap into new incremental revenue
Mobile Check-In App for Hotels: What Are The Benefits?
In recent years, mobile check-in apps for hotels gained popularity due to the efficiency of guests and hotels. Since the check-in process is contactless and more hygienic, it has gotten an extra boost since the coronavirus pandemic. Not only do these methods cater to the needs of tech-savvy customers, but they can enhance the brand reputation of the property in question. Let us now examine each of these concepts in greater detail. What is Mobile
How to Increase Revenue with Minimum Stay Rule: Solving the Case, Sherlock Holmes Style.
Imagine yourself as the Sherlock Holmes of hospitality, piecing together clues to solve the case of boosting your hotel’s revenue. One of the intriguing clues? Minimum stay restrictions. This strategy might seem simple, but when used correctly, it can open the door to higher occupancy rates and increased revenue. In this article, you’ll dive into the mysteries of minimum stay restrictions, revealing when and how to use them to your advantage. What is the Minimum
How to Attract and Convert the Millennial Hotel Booker
A recent study by Boutique Hotelier (1) revealed that 42% of millennials plan to spend more on travel in 2023, presenting a significant opportunity for hotel brands. With this in mind, we've been keeping a close eye on the latest generation of travelers to understand what sets them apart from other guests and how savvy hoteliers can adapt their offerings to suit their needs and encourage more reservations. 4 Tips to Attract and Convert Millennial
Hotel Budget Plan: Practical Budgeting Tips for Hoteliers
A hotel budget plan is a projection of financial earnings and expenditures over a defined period of time, allowing your hotel to understand its financial status and determine how much money is available for planned or unplanned projects. In this article, you will be able to learn more about what
Hotel Budget: Effective Budgeting Tips for Hoteliers
Establishing a hotel budget involves estimating revenue and expenditure over a defined period and establishing rules about how much money is available based on various factors, including changes in customer demand. In this article, you can access some effective budgeting tips for your hotel. Table of Contents: What Is the
Hotel Breakfast: Types, Overview & Tips to Impress Your Guests
Hotel breakfasts are a great way for guests to start the day and help your hotel stand out from the crowd. A delicious breakfast with varied options can create a good impression that will stay with your visitors. This article gives you an overview of hotel breakfast possibilities and how
List of the 13 Excellent Hotel Brands to Work For
When seeking employment within the hotel industry, finding the right hotel brand for your tastes, needs, and preferences can be important. Of course, for job seekers based in Europe or hoping to move to Europe for work, this means understanding the best European hotel brands to focus on and learning
What Are the Important Features When Choosing a Hotel Bot?
A hotel bot is valuable to your broader hotel management strategy, assisting with marketing and customer service tasks. However, choosing your hotel chatbot can be daunting, especially if you are new to the technology. In this article, you will learn about some of the most important features to look out
Hotel Booking System: 8 Tips to Maximize its Benefits
A hotel booking system is an important technology for hotels and similar properties, allowing customers to reserve hotel rooms online through a simple, self-service process. In this article, you will find out more about how these systems work and have the chance to explore eight tips that will allow you