Running a hotel is one of the most dynamic businesses out there. It makes a huge difference whether your hotel is a modest, comfortable, and affordable place to stay or if it is expensive, high-end accommodation. It’s easier to make money when you cater to those who have it, but those are never the only people who need a place to stay. When you are trying to increase your hotel’s revenue, there are a few methods to do it. Below are five ways to increase the revenue of your hotel business. Offer More Amenities The number of amenities your hotel has a direct effect on the price to book a room at ..read more

2022 was a year when we saw a significant move to cloud-based technology. Staffing pressures and market variability meant that hotels needed to implement systems that could harness and process extraordinary amounts of data without having to hire large teams of specialists. The interoperability of HTNG-spec, cloud-based technology has meant that tech stacks have evolved rapidly across a range of areas of critical importance to hotels. Looking at the results of our recent Trends & Predictions survey, it looks like 2023 will be another year of increased tech adoption, as hotels continue to l ..read more

Increasing revenue is the primary goal of every business, and accommodations are no exception. But what actions can you take to increase your revenues? In this article we will walk you through 8 of them. Use Upselling and Cross-Selling Upselling and cross-selling are two activities that allow you to increase revenue quickly and without any major investment on your part. Upselling involves offering the customer making a purchase a better version of what they are buying. In your case, this means proposing the purchase of a higher category room with more amenities. Cross-selling, on the other han ..read more

In the years since the hospitality industry was shuttered by the COVID-19 pandemic, the sector has made a significant comeback. By the end of 2022, the global tourism industry has rebounded back, and some destinations are experiencing a double digit increase in visitors.  Hotels can make the most of this strong economy by implementing the following strategies to maintain and expand their revenue.  Upgrade Booking Systems Traditionally, hotels managed all of their reservations and guest requests through manual systems. Today, hospitality businesses of all sizes incorporate some type o ..read more

Gorgeous Smiling Hotels (GSH) is a young company with the goal to become a pan-European player. We currently operate mainly in the DACH region (Germany, Switzerland, and Austria) with a mix of own-brand and franchised properties. We specialize in 3–4-star properties, with around 80% of our portfolio being low-service, lifestyle properties. We currently have 45 hotels in operation. In late 2021 we embarked on a plan to invest in IT. We knew we needed to look more closely at our technology landscape to move on. Central to this tech landscape are the PMS and Duetto. We decided to add in more ele ..read more

The forecast and budget season is approaching again. This means that revenue and finance teams are currently evaluating revenue, profit and loss, costs, and investments. For some, investment in new technology might not seem a priority. But not investing in tech also comes at a cost. For decision-makers, you need to weigh up the revenue opportunity and the potential savings through increased efficiencies, against the cost of implementation. Typically, hotels run on Duetto will see a RevPAR uplift of 6% in the first year of operations, and a further 10% gain following that. In terms of market s ..read more

The world of hospitality sales has become increasingly competitive. That means it is harder than ever to meet your revenue goals. Not only must you contend with competitors, but other distractions pull your audience’s attention away. How are you supposed to achieve your hospitality sales goals? There is no one-size-fits-all approach that will work, but we’ll cover several critical sales tips to help you reach (and even exceed) your revenue goals. Begin with a SWOT Analysis Not familiar with the acronym SWOT? It stands for strengths, weaknesses, opportunities, and threats. This type of analysis ..read more

Using revenue management data science is crucial, especially during the pandemic period. Previous hotel revenue management strategies can no longer be used as a guideline as the travel industry’s rebounds and restrictions continue to wreak havoc. This is making the new normal for the hospitality business particularly challenging. Hospitality analytics must be measured and broken down in a new way to form predictions based on demand after rebounds happen. However, the initial data points are losing their relevance as new Covid waves create their own trends and time continues. This means constan ..read more

We have been inundated with calls to trust the science since the pandemic began. Similarly, we consistently hear from hotel commercial teams that they have significantly fewer resources available these days. This requires them to rely more on technology and automation than they have in the past. Thus, GMs, directors, and managers of sales and revenue management are urged to trust the science behind the systems that they use. But let’s explore what is necessary for them to take this leap of faith, specifically in their use of a revenue management system (RMS). User Forecast = System Forecast ..read more

Stay up to date with the latest trending hotel news stories that will impact your hotel Revenue Strategy. 1. Hoteliers Forced To Seek Creative WaysTo Drive Revenue in Pandemic At the How To Find Alternative Sources of Revenue in Your Hotel session at the recent Hotel Data Conference, executives from the hotel industry discussed the different ways hotels found themselves looking to drive business during the pandemic in 2020 when travel restrictions put a stop to room revenue.  Some of the ventures mentioned included offering takeout cocktails and using otherwise empty rooms as office spac ..read more