Welcome to our XOTELS‘ Hotel Revenue Management Blog. Explore cutting-edge strategies, data-driven insights, and expert tips tailored for optimizing revenue in the dynamic world of hotels. Discover the revenue management potential and elevate your hotel’s profitability to success.
We have written extensively about hotel revenue management strategies. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.
Google is taking the hotel industry by storm to gain market share and grow their advertising revenues. We will take a look at how Google is penetrating the hotel distribution vertical with Google Hotel Ads, and what opportunities this gives in terms of hotel revenue management and marketing.
For many people, starting their own boutique hotel or luxury bed and breakfast is like a dream. Most are drawn by the charm of hospitality and see it as a chance to start a new beginning. But opening a hotel business , just like any new company, is more difficult than it might seem at first sight.
The unofficial definition of Revenue Management used by insiders is ‘the art of turning away business’. This certainly does not apply during the current Covid-19 (coronavirus) global healthcare crisis, and the economic downturn the hotel industry is facing in its aftermath. All the standard strategies and playbooks are out of the window right now. So what to do?
It is a question I often hear when explaining what we do at Xotels. People seem surprised hotels are willing to hand over a vital part of their strategies to a 3rd party. Such a sensitive and key part to the success of your business as revenue management should not be left to an ‘outside’ company many hoteliers respond.
Hotel low season revenue has long been considered to simply be an unfortunate fact of the industry. It brings less demand and, therefore, lower revenues too. But the industry has changed so much in such a short space of time, and hotels no longer have to accept that low season automatically means slow business.
By adopting a proactive stance and implementing a series of tried-and-tested tactics, your hotel can blossom in what traditionally is considered low season. Read on to discover our five best practice steps to attract guests and increase hotel revenue during a low occupancy phase at any time of the year.
We have compiled a list of the best articles published last year to give you a head start into 2023! Before diving into the list, we would like to welcome you to check out our recent articles covering the plethora of essentials to Hotel and Operations Management, Marketing and Distribution, Finance and Accounting, Systems and Technology and other hospitality-focused insights.
At XOTELS, it has been a while since we covered this topic on our hotel management blog, so I thought it would be good to have another look at forecasting in hotels. With reservation lead time changing in key markets we operate in, it is becoming more challenging to forecast accurately.
And still it is essential to give our operational departments a realistic financial outlook to run the day to day operations of the hotel as cost effective as possible. And also owners and investors need to have insight and the right expectations on the financial performance of their hospitality business.
In our last post, we went over some of the successes and challenges of revenue management in the apartment rental business. We came up with a number of elements that we believe need to be applied to take revenue management to the next level.
