2141 results found | searching for "technology"
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Revenue Management Tips on How to Increase Hotel Income & Profit November 16, 2020|Hotel Marketing Here are general tips on how to improve the hotel’s revenue: 1. Monitor the hotel’s unconstrained demand The hotel’s unconstrained demand refers to an estimate of the total demand of the hotel. It measures how many rooms can be sold in a given day if the hotel had totally unlimited capacity. For example, when demand is high, such as Christmas, the hotel’s unconstrained demand will likely be higher than the hotel’s capacity. This means one can increase their prices to maximize revenue. 2. Forecast overall demand Another way to increase hotel revenue is by forecasting overall demand. By predicting how many guests the hotel is likely to receive, management can plan ahead and change their prices. If last year, the demand increased during a certain period, management can learn from this and increase their prices accordingly. It’s alright to make mistakes at first, as long as management learns from it, as this will help optimize the hotel’s revenue in the long-term. 3. Turn unused spaces into more efficient rooms If the hotel has unused spaces or spaces not used to its full potential, such as meeting rooms or lobbies, management can think about turning them into co-working spaces or even turning the meeting room into a private events room. The possibilities are endless as there are many creative solutions available, depending on the hotel’s location, size, and type of guests that the hotel attracts. 4. Increase one’s knowledge of the hotel market Knowing the market is a necessity when it comes to managing a successful hotel. Management should identify the hotel’s unique selling points by analyzing strengths, weaknesses, and any new opportunities for the hotel. With this, management will be able to target the potential guests and attract them more. It is also important to stay in touch with the current trends of the market and be one step ahead of the guest’s needs and wants. 5. Diversify the hotel’s room types A hotel can attract many different types of guests, such as millennials and families, so it’s important for management to offer different types of rooms with varying sizes, functionalities, and layouts. Management can also change the room names to make them sound more appealing to different types of guests. 6. Cancellation policies If many guests cancel their bookings at the last minute, hotel profits will go down. Management can either choose not to allow cancellation or charge a fee for cancellation. Either way, it’s very important to reinforce the hotel’s cancellation policy, making sure the hotel can rely on the guests’ reservations. 7. Feedback and reviews The hotel’s reputation depends on the reviews the guests leave after their stay. Reviews are read by potential guests in the future, which means they have a big impact on the hotel’s demand. Answering these reviews, whether they are positive or negative, is a good way to improve the hotel’s reputation. It shows that the hotel management cares and acknowledges the opinions of its hotel guests. Hotel management should also apologize and professionally respond to the negative reviews, and more importantly, try to fix the issues raised by the guests. This will reassure the future guests that the hotel management is working hard in trying to make their future stay as enjoyable as possible. 8. Social media platforms Social media platforms are a great way to reach the potential guest. However, it is important to know how to use them by developing strategies and staying consistent. Once a platform is chosen, management has to decide when and what to post. The post should be scheduled according to the information the hotel wants to share. 9. Upsell the hotel Upsell the hotel by using the right tools. This will encourage the guests to spend a little bit more when they come to stay with the hotel - either online or in person. For example, management can offer room upgrades on the website or in the hotel reception desk as soon as the guests' check-in. 10. Cross-selling Similar to upselling, cross-selling will help the hotel to increase its revenue by offering complementary products to the guests, such as spa visits, excursions, and other activities, depending on the hotel's location and the type of guests that the hotel attracts. 11. Technology Lastly, utilizing technology is a great tool to increase the hotel's efficiency. For example, organizing reservations and managing revenues will be faster if the hotel uses the right systems. However, human interaction is still very important in the hospitality sector so hotel management should not over-rely on technology. In summary, these are just a few of the many ways the hotel can improve its revenue. Should you need assistance or more information, please do not hesitate to get in touch with us at support@bezla.com or calling 888-999-8086. #HotelMarketing #BeatTheCompetition #Bezla Bezla.com [more]
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Technology is an undeniable thing that every business should consider in order to achieve SDG. Explore this blog to know more about this. Learn More - https://bit.ly/2RwzGlL. #InnovationInTech #SDGForBetterSociety #SDGSolutionProviders #SustainabilityConsultingServices #SustainableDevelopmentGoals #TechnologyAdvancement -
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Rapid Test Kit Market Research Report Rapid Test Kit Market Size, Growth, Trends, Share & detailed information by Technology, By Application, By Product Type & Forecast, 2020-2027. For Additional Insights, Click to Access Complete Report – https://www.gmiresearch.com/report/rapid-test-kit-market/ [more]
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Insurtech Market by Type (Auto, Business, Health, Home, Speciality, Travel, and Others), By Service (Consulting, Support & Maintenance, andManaged Services), By End-Use (Automotive, BFSI, Government, Healthcare, Manufacturing, Retail, Transportation, and Others), By Technology, and By Region – Global Opportunities & Forecast, 2020-2027 For Additional Insights, Click to Access: https://www.gmiresearch.com/report/insurtech-market/ [more]
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8889967333 - Wire IT Solutions - Internet Security Wire-IT Solutions is a best network security providing company in US, UK, Canada and Australia. Higher customer satisfaction and affordable services. Trained experts with lot of experience. https://wire-itsolutions.com #wireitsolutions #wireitsolutionsreviews #wireitsolutionsratings #networksecurity #internetsecurity #Wireitsolutionsreviewsandratings #software #technology -
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Tek Wire | Complete Software Solutions - 844-479-6777 Tekwire is a best network security providing company in US, UK, Canada and Australia. Higher customer satisfaction and affordable services. Trained experts with lot of experience. https://tek-wire.net #intenetsecurity #networksecurity #tekwire #tekwirereviews #tekwireratings #tekwirellc #tekwirereviewsandratings #technology #software #8444796777 -
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AOI Tech Solutions BBB - 8448679017 - Network Security AOI Tech Solutions BBB | Network security is protection of the access to files and directories in a computer network against hacking, misuse and unauthorized changes to the system. It includes both hardware and software technologies. Effective network security manages access to the network. It targets a variety of threats and stops them from entering or spreading on your network. AOI TECH SOLUTIONS BBB | Sprint security professionals will keep watch over your network for you, so you and your team can focus on taking care of your business. https://aoitechsolutions.com #aoitechsolutionsbbb #aoitechsolutionstrustpilot #internetsecurity #networksecurity #software #aoitechsolutions #aoitechsolutionsreviews #aoitechsolutionsratings #aoitechsolutionsreviewsandratings #technology -
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Zapio Technology is a leading Visitor Management System provider in Dubai. This is a cloud-based platform and Visitor Management with Touchless Check-in System to keep your people & Workplace Safe. For more, https://zapiotech.com/visitor-management-software-dubai.html [more]
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Food Safety Testing Market by Target Tested (Pathogens, GMOs, Pesticides, Toxins, Allergens, Heavy Metals and Others), By Technology (Traditional and Rapid), By Food Tested (Meat, Poultry & Seafood, Dairy Products, Processed Food, Fruits & Vegetables, Cereals & Grains and Others) and By Region – Global Opportunities & Forecast, 2020-2027 For Additional Insights, Click to Access: https://www.gmiresearch.com/report/food-safety-testing-market/ [more]
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Crowdfunding Market Analysis Report By Product Type (Reward-Based Crowdfunding, Equity Crowdfunding, Donation, and Others), By End-Use Application (Cultural Sector, Technology, Education, Healthcare, and Others), and By Region – Global Opportunities & Forecast, 2020-2027 For Additional Insights, Click to Access: https://www.gmiresearch.com/report/crowdfunding-market-size-growth-trends-analysis-industry-research/ [more]
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