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How To Increase Hotel Revenue in Low Season

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 |2020-06-25T12:14:55+00:00March 4th, 2020|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on How To Increase Hotel Revenue in Low Season

Top 10 Essential Revenue Management Articles for a Successful 2020

Top 10 Revenue Management Articles and Tips to Read for a Successful 2020

We have compiled a list of the best articles published last year to give you a head start into 2020! 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 Asset Management, Marketing, Distribution, and other hospitality-focused insights.

Let´s dig in!

By |2020-06-25T12:21:48+00:00January 20th, 2020|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on Top 10 Essential Revenue Management Articles for a Successful 2020

How to Forecast Hotel Revenue with Optimized Precision

How to Forecast Hotel Revenue with Optimized Precision by Xotels

It has been a while since we covered this topic, 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.

By |2020-06-25T12:24:51+00:00November 11th, 2019|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on How to Forecast Hotel Revenue with Optimized Precision

How to Apply Revenue Management Strategies for your Apartments and Vacation Rental Business

Casa Vaganto Barcelona - Lounge

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.

By |2020-06-25T12:25:54+00:00October 21st, 2019|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on How to Apply Revenue Management Strategies for your Apartments and Vacation Rental Business

Hotel Revenue Management in Italy, Case Studies by Xotels

Hotel Revenue Management in Italy, Case Studies by Xotels

It has been a few years since Xotels is operating in Italy now. And we wanted to share some of our successes in terms of hotel revenue management strategies with you.

Before entering into the market we were faced with the same hurdles as always. Owners and managers were concerned we did not know the market, and did not have first hand local experience.

Of course as a strategist these concerns are not valid to us, as we analyze demand patterns, performance KPI and and other statistics to optimize a business. And regardless of where it is located, the methodology and best practices of revenue management do not change.

So how did we do? Let me share some case studies of our hotel performance in Italy with you.

By |2020-04-28T08:11:41+00:00October 7th, 2019|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on Hotel Revenue Management in Italy, Case Studies by Xotels

Current Industry Challenges and Future Outlook – Revenue Management for Apartments and Vacation Rental Businesses

Current Industry Challenges and Future Outlook - Revenue Management for Apartments and Vacation Rental Businesses

It is no news that the vacation rental business has exploded worldwide thanks to the sharing economy. With the industry generating billions and billions of revenue per year, providers for related services have popped up like mushrooms. To be able to separate the wheat from the chaff we have composed a number of basic principles that apply to revenue management for vacation rental business or apartments.

By |2020-04-09T10:04:19+00:00September 23rd, 2019|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on Current Industry Challenges and Future Outlook – Revenue Management for Apartments and Vacation Rental Businesses

20+ Revenue Management Tips on How to Increase Hotel Income & Profit

20+ Tips - How to Increase Revenue in Hotels

In recent years we have written so many articles with advice on how you can increase your hotel’s revenue. While originally revenue management was restricted only to certain areas, Xotels has been increasingly focusing on total revenue management. Total hotel revenue management includes key methods of improving a hotel’s bottom line by looking at all business areas, including marketing, sales and even concept development. This article provides a collection of over 20 of our most valuable insider tips, which can provide an outstanding platform for you to maximize your hotel’s revenue.

By |2020-06-25T13:20:51+00:00August 27th, 2019|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on 20+ Revenue Management Tips on How to Increase Hotel Income & Profit

5 Ways to Drive Incremental Revenue to Your Hotel

5 Ways to Drive Incremental Revenue to Your Hotel

In last year’s article on hotel ancillary revenue we shared insider tips on how to generate extra revenue at your hotel or resort. We explained, among other things, how to upsell and cross-sell your services and how to leverage underutilized areas to increase revenue.

These main strategies will stay relevant during the coming years, but there are now novel ways of increasing revenue per guest too. In this article, we will go into detail about these new methods of using the strategies mentioned previously and discuss other tips and tricks to supercharge your revenue by getting your guests to spend more.

By |2020-06-25T13:23:11+00:00June 27th, 2019|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on 5 Ways to Drive Incremental Revenue to Your Hotel

Building the Newest Generation of Yield and Pricing Tools in the Hotel Industry

Building the newest generation of yield and pricing tools in the hotel industry

Continuously rethinking revenue management, I have come to the point where I wanted to build a revenue management and pricing solution myself. One of the crucial elements was the recommended pricing. Together with two revenue management teams and technology specialists, we have established a significant list of elements that we wanted to incorporate when it comes down to how we decided on any price for any given day.

The list of elements keeps on expanding and it seems never ending, as we add new elements on a regular basis.

So, if you are thinking of adding new elements in the way you decide on your price strategy, here’s a bunch of ideas to play with.

By |2020-06-25T13:24:08+00:00May 21st, 2019|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on Building the Newest Generation of Yield and Pricing Tools in the Hotel Industry

How Hotel Design and Concept Development can Benefit from Revenue Management Insights

Roomtypes at Hotel Mabi

Over the last few years we have gotten more and more involved in the businesses of our hotel clients. We have seen a clear difference in revenue and profitability in hotels where we got involved at project definition stage vs coming in at pre-opening. There are many key points that increase the revenue potential of a hotel or resort, which architects, designers and investors are overlooking. And we are not talking about pocket change. I estimate the upside by utilizing revenue management insights to be easily 10% to 25% in top line income. Just think about how much this would impact your bottom line profit.

By |2020-06-25T13:25:48+00:00April 24th, 2019|Hotel Management Blog, Revenue & Yield Management Blog|Comments Off on How Hotel Design and Concept Development can Benefit from Revenue Management Insights