This ratio is important because it provides a snapshot of how well you are filling rooms, and how much you are able to charge. There are several ways to increase your hotel’s RevPAR: Incorporating a length of stay requirement Some revenue management strategies are created solely around having...
After adjusting prices based on this feedback, ClickMechanic saw their revenue grow by 60% in two months. Allowing customers to see who the mechanic was prior to booking increased conversions by 10%. 5. Personalize the browsing and buying experience Some of your website visitors have concerns ...
Then, reach out to the property managers of these sites to share the parking availability through a calendar year, and clarify that event-night traffic control in the lot is their responsibility. If you get takers, this can be a steady stream of passive revenue for hotels. Increase hotel ...
41% of Q3 events in the US were for 75 people or less. Small meetings play a pivotal role in achieving hotel revenue targets, so it’s smart to sell small to medium sized hotel meeting spacesdirectly onlinewithout the need for sales staff. ...
These types of displays can also be used to cross-sell by directing guests to other areas of the hotel that will increase revenue. 2. Wayfinding: Perhaps the most necessary of all information to display, digital signage in hotels should always be used for navigation and easy wayfinding. The ...
Direct Reservations Will Increase Revenue We cannot deny the importance of online travel agencies. Each year,around 50% of hotel bookingsare made through OTAs. But even if they can and usually will help you reach new potential customers, they also take a considerable amount of commission. ...
In a fast-paced world, it can feel complicated to ensure your ideal traveler can find and book with your hotel. A smart hotel revenue management strategy can help you reach your goals and give you the tools you need to increase your hotel revenue. ...
predict what customers are going to do in the future. While specific goals may vary from one property to the next, some primary objectives of hotel revenue management are to optimize prices to match travel demand, outperform thecomp set, increase profits, and improve hotel performance year-over...
A well-structured Hospitality CRM Success Plan helps hospitality businesses build stronger relationships with their customers, increase operational efficiency, and ultimately drive more revenue. How to Create a Successful Hospitality CRM to Improve Revenue ...
In this compact case study, you’ll read the data that shows the importance of marketing personalization to the average traveler. Download the following case study of Screen Pilot to learn how any hotel with a digital footprint can begin to use marketing personalization to increase conversions. ...