Hoteliers! Buckle up, because today we’re going to crack the code of one of the most crucial aspects of running a successful hotel – setting the correct prices. If you’ve been wrestling with the challenge of setting competitive prices that attract guests while preserving optimum margins, you’ve landed in the right place! So, are you…
Hey there, fellow hotelier! Let’s face it, the off-season in the hotel industry can be a tough nut to crack. Seeing those empty rooms and a deserted lobby can be disheartening. But guess what? The low occupancy phase isn’t a never-ending tunnel. In fact, it’s a golden opportunity to innovate and implement new ideas and…
Have you ever found yourself during the off-season, surrounded by vacant hotel rooms and sleepless nights, questioning where you went wrong? Don’t worry! In this blog, we’re about to reveal the data-driven hotel marketing by top hotels to increase their occupancy rates, no matter what’s the season. So, get down to business to unlock the…
Hedge funds are private investment funds that pool capital from accredited investors or institutional investors and use a variety of investment strategies to seek high returns. They are typically managed by professional fund managers and are known for their flexibility in investment strategies, risk management techniques, and often higher levels of risk compared to traditional…
BARC Research shows that businesses using data analytics experience an average of 8% profit growth and a 10% reduction in costs. Even more, 69% of these companies report making better strategic decisions, 54% have stronger control over their operations, and 52% have gained a deeper understanding of their customers. (Source: BARC Research) The data understates…
Running a hotel isn’t just about making beds and booking rooms anymore. Nowadays guests are choosier than ever and a market crowded with options, hotels need more than charm and good housekeeping to thrive. So, how can you keep up? Better yet, how can you grow your hotel business? The answer? Adapt, innovate, and focus…
Revenue management is often misunderstood as simply increasing hotel revenue. But as Rubinacci, a hospitality leader, points out, “Profitability and revenue are not the same thing.” Actual revenue management goes beyond filling rooms. It’s about making smart decisions on pricing, availability, and distribution to maximize long-term profitability. Apart from that, many hoteliers also confuse revenue…
Let me ask you this—how often do you second-guess your hotel prices? Are you charging too much and losing guests? Or too little and missing out on revenue? The truth is, pricing is everything in the hotel industry. It’s what drives bookings, fills rooms, and keeps your profits alive. But here’s the problem: without the…
Hotel price tracking has become quite important for the travel industry. There are so many competitors in the market due to keeping track of all the individual OTAs has become quite difficult. In this article, we are going to use python to create a simple hotel price-tracking script. We will track hotel prices for a…
Yield management has become the backbone of profitable hotel operations. Far beyond simple pricing, it’s the strategy that top-performing hotels use to adjust rates based on demand, timing, and guest behavior to ensure rooms are booked at the right price. By leveraging yield management, hotels can boost revenue by as much as 20% per booking….