revenue strategies
Pick Up Your Calls to Pick Up More Bookings!
Doug Kennedy | July 23, 2024
The more important the trip, the more likely they are to pick up the phone. Despite the pundits’ predictions, the phones continue to ring with incoming reservations leads even now in the mid-2020s, and yes, even at branded hotels across all segments. I’m sure some readers are thinking “Well not us. The majority of our rooms are booked online.” Yet if you listen to real phone calls from real callers, as KTN’s QA team does daily through our remote call scoring process, you realize that many people call with questions before booking online, whether at an OTA or the hotel’s direct website. Other guests book first and then call wit...
Channel Management: Unlocking the Full Potential in Distribution Strategy
HFTP | July 22, 2024
By Fernando Vives, Hospitality Labs Ambassador & Chief Commercial Officer at NH Group In today’s competitive hospitality market, the way you manage your distribution channels can make all the difference. Let’s explore the importance of a well-optimized distribution strategy and how it can transform the hotel’s performance. The Importance of a Well-Optimized Distribution Strategy A robust distribution strategy is crucial for reaching a wider audience and maximizing any hotel’s revenue potential. By effectively managing distribution channels, we can ensure that our rooms are visible to the right customers at the right tim...
An Immediate Way to Drive Revenue to Your Hotel’s Top and Bottom Lines
Don Farrell | July 19, 2024
By Don Farrell Who wouldn’t want to make a few hundred thousand more in immediate room revenue and see most of that go to the bottom line? In fact, it may be the largest account your hotel can go after, particularly if you are a focused service property. Where can you find this low-lying fruit and how can you harvest it? Your Single Largest Account is at your Front Desk by Converting More Reservation Inquiries And this is the best form of revenue…..the single room requests that come into your front desk in the form of phone inquiries and walk-ins. Imagine what losing one of your top accounts would look like. With front desk reser...
New P3 Gift Voucher Module Enhances Hotel Revenue Opportunities and Streamlines the Guest Experience
P3 Hotel Software | July 16, 2024
July 16, 2024 — Dublin & Denver — P3 Hotel Software, a leading innovator in hotel booking solutions, today announces the introduction of its latest product module, P3 Gift Vouchers. This new feature seamlessly integrates with existing P3 Booking Engines, enhancing operational efficiency and streamlining the online guest experience. Part of a comprehensive suite of P3 products, the Gift Voucher module ensures that hotels can manage all aspects of the guest journey, from direct booking and online check-in/out to ancillary add-ons and more, without relying on multiple software vendors. Seamless Integration and Effortless Management ...
Lessons From Gaming: What Can Hospitality Learn From Video Games?
Mews | July 11, 2024
Are you a PlayStation pro or a Nintendo novice? From consoles to PCs to phones, gaming is a multi-billion-dollar industry, with estimates valuing the worldwide market at around $350 billion. Even if your gaming experience doesn’t go beyond Pac Man or Candy Crush, there are still plenty of valuable takeaways from this innovative industry. Let’s look at how gaming can inspire us to greater hospitality – no cheat codes required. Ready, player one? The power of customization In the early 80s, games began to incorporate a radical new feature: customization. At first it was very simple: players could change their character’s name....
BYD Lofts Grows Revenues by 15 Percent With IDeaS G3 RMS
IDeaS | July 2, 2024
SINGAPORE – July 2, 2024 – IDeaS, a SAS company and the world’s leading provider of hotel revenue management software and services, announced today that BYD Lofts Boutique Hotel & Serviced Apartments had grown its property revenues by 15 percent with IDeaS G3 Revenue Management System after adopting the system to automate daily pricing activity and enhance its commercial strategies. BYD Lofts is situated 200 meters from Patong Beach in Thailand. It offers a range of upscale rooms, suites, and fully furnished serviced apartments. In a highly competitive resort and holiday market, BYD Lofts needed to move beyond manual-based revenue ...
Revenue Management in Real Life: The Art of Saying No
Fabian Bartnick | June 19, 2024
As a seasoned revenue manager and a parent, I've come to realize that the principles of revenue management aren't confined to the boardroom or the hotel lobby—they extend right into our living rooms. Today, let's dive into the art of saying no and draw some amusing correlations between revenue management and real-time parenting with my two little darlings, Rafa (10) and Hayden (9). Setting Boundaries: The Hotel and the Home Imagine your hotel as a bustling kindergarten. Your guests, much like children, have high expectations and boundless energy. As revenue managers (RMs) and general managers (GMs), we often feel like the teachers tryi...
IDeaS Now Available on the Oracle Hospitality Integration Platform (OHIP)
IDeaS | June 18, 2024
IDeaS leads the way in integrating at scale as nearly 2,000 initial properties take advantage of faster, smoother implementations MINNEAPOLIS—June 18, 2024— IDeaS, a SAS company and leading provider of hospitality revenue management software and services, today announced that it has reached the milestone of nearly 2,000 properties live on the Oracle Hospitality Integration Platform (OHIP). This integration seamlessly connects RMS solutions, including IDeaS G3 RMS, with Oracle's OPERA Cloud platform, accessible through both OHIP and the Oracle Cloud Marketplace – a centralized hub for enterprise applications. Building upon their 25-yea...