In today’s dynamic hospitality industry, hotel prices fluctuate constantly, due to seasonality, demand changes, and competitor pricing strategies. For both budget-conscious travelers and savvy hoteliers, staying updated on these pricing dynamics and hotel price monitoring is crucial.  So, let’s start with the basics and delve into– Table of Content Why Hotel Price Monitoring Matters Understanding Hotel Price Dynamics Best Practices for Effective Hotel Price Monitoring Challenges and Limitations Future Trends in Hotel Price Monitoring The Best Hotel Price Monitoring Software: eZee Mint ..read more

Selecting the right payment gateway for your hotel is not just about processing payments effortlessly, but creating a moment that complements the entire stay. Here’s how—imagine this—a corporate guest wraps up a successful meeting and prepares to check out from your hotel. As he approaches the front desk to settle his account, the last thing you want is a cumbersome payment process overshadowing the quality of their stay. And this is where the right payment gateway can make a difference.  They play a pivotal role in ensuring a smooth, secure, and fast financial transaction. The right choi ..read more

What is E-Invoicing? In recent years, India has witnessed a significant transformation in its tax administration and compliance procedures. One of the most important processes among them is the introduction of Electronic Invoicing, commonly referred to as E-Invoicing.  E-invoicing is a digital method of generating, sharing, and reporting invoices between businesses and tax authorities. It aims to streamline the invoicing process, enhance transparency, and curb tax evasion.  It promotes compliance by reducing errors and preventing the manipulation of invoices. It enhances the accuracy ..read more

Running a hotel is a complex and balancing act: you want to ensure all your rooms are booked and your guests are happy, but how do you set the right prices to make this happen? Well, that’s where “hotel rate types” come into play. They act as the secret ingredient that can help you achieve this fine balance of setting the right price at the right time. Think of rate types as unique pricing strategies tailored to different scenarios and guest segments. They’re like your toolkit for welcoming all sorts of guests, whether it’s during the bustling peak season or the quieter off-season. If you’re n ..read more

I had a friend in school whose name was Arjun. Arjun was just like the rest of us. Messy hair, oversized pants, and a loose shirt with a few buttons missing. (You can picture him right?)  But there was one thing that made Arjun different from us. Whenever he was asked what he wanted to become in life, he would say “Rich” while the rest of us would choose to be a doctor, teacher, or something else.  Arjun’s answer always brought a roll of laughter in our class.  Jump to 2023. I was at a restaurant when I saw Arjun sitting at a table across the room. We jumped in, caught up, and s ..read more

The hospitality industry is ever-changing. But the one thing that is always constant is the day-to-day operations that define your guest experience. With countless operations starting from housekeeping to revenue management, hoteliering is a hectic task and the essence of perfection is often lost. This is where hotel improvement ideas come in.  Streamlined hotel operations can significantly impact a hotel’s bottom line by enhancing guest retention, attracting positive reviews, and optimizing resource utilization. From the moment a reservation is made to the final farewell, the intricacies ..read more

I always get thrilled by how much money hospitality leaders or successful businessmen make. No doubt, the exact numbers would be overwhelming. But the efforts that go behind it are no less. To reach such heights in terms of profit or revenue generation one needs to have immense knowledge of the hospitality industry and its marketplace. (As knowledge alone creates all the difference.) This is why every hotel owner puts a lot into serving its guests but only a few get an impressive revenue collection.  Most of the time, this happens because of the fragile pricing strategies hoteliers set up ..read more

Like any other business, hotels need to generate revenue in order to survive. But with the ever-growing competition, how can small hotels keep up? How can small accommodation providers keep revenue flowing? In this article, I will discuss some sales and marketing strategies to increase revenue for small hotels and stay afloat. Wait, there’s also a bonus. I will also tell you about some revenue-generating ideas for small hotels that don’t include selling rooms. Sounds good? So without further ado, let’s find out how to increase revenue in small hotels and help them thrive! Table of Content Str ..read more

Revenue management is the talk of the town in the entire hospitality industry. Accommodation businesses from all around the world are significantly doubling down on it. Not to mention, even I have been a lot more vocal about this sought-after hospitality phenomenon lately. However, there’s still more to cover. Today, this blog is going to be all things hotel revenue management systems. I am not just going to give you an overview, but also help you learn about the features that make it worth it, and how you, a hotelier can pick the right system from the right vendor. Table of Content The Curre ..read more

Revenue management has become commonplace in the hotel industry. A hotel with the right set of revenue management strategies is in a much better place than the ones without. But what makes revenue management so prominent? Data, data, and data! They said data is the new oil. Well said. And today, in this blog, I am covering an interesting type of data that lately has become a fuel for revenue managers in improving their strategies. Let’s look at what this data is and how it is transforming the hotel industry for the good. Table of Content What is Future Demand Data? How is This Data Relevant t ..read more