N. HALL Consulting’s Post

Today's Revenue Management thought:- Advantages of Per Person Pricing One of the primary advantages of per person pricing is its potential for increased revenue. By charging for each additional guest, hotels can ensure they are compensated for the extra resources and amenities used. This can be particularly beneficial during peak seasons when occupancy rates are high, and maximizing revenue per guest is crucial. Another significant benefit is enhanced fairness and transparency. Guests can clearly see what they are paying for, which can lead to higher satisfaction levels. Families and groups, for instance, can understand the cost implications of adding more people to their booking, leading to fewer surprises at checkout. Per person pricing also allows for better customization of packages and promotions. Hotels can tailor offerings to different guest segments, such as solo travelers, couples, or large families, providing targeted deals that cater to their specific needs. This flexibility can enhance marketing efforts and attract a broader range of customers. Additionally, this pricing model can improve resource management. By knowing the exact number of guests, hotels can better plan for food and beverage consumption, housekeeping, and other operational aspects, leading to more efficient and cost-effective service delivery. Have a profitable week. ✌🏼 N. Hall Consulting 🔔 Ring the bell ➕ Hit "+ Follow" 💬 Leave me a comment 👍 Like this, give it a thumbs up #Hotels #Hospitality #Distribution #RevenueManagement #OutsourcedRevenueManagement #Revenuegrowth #Consultant #Hotelgrowth #Coaching #Hotelrevenue #Hoteldistibution #Hoteltech #Hotelmarketing

Unlocking Revenue Potential: The Art of Discounting in Hospitality Discounting has been debated in hotel revenue management, but it's time to challenge the norm. When used strategically, discounts drive growth, attract new guests, and foster loyalty. Let's debunk the myths and optimize the benefits. Rethinking the Traditional Perspective: Discounts aren't desperate measures. It's time to break free from the belief that they imply flaws in your business. Navigating the Pitfalls: Mismanaged discounts erode profits and brand value. Avoid slashing prices blindly and set realistic guest expectations. Embracing Discounting as a Strategic Asset: Discounts can be a game-changer in revenue management. Expanding Your Reach: Discounts draw in new guests, showcasing your exceptional service and turning them into loyal patrons. Optimizing Off-Peak Periods: Timed discounts fill gaps during slow periods, maximizing revenue potential year-round. Elevating Guest Loyalty: Discounts convey added value beyond price reduction. Enhance the guest experience with spa packages, dining credits, or room upgrades. Mastering the Art of Strategic Discounting: Segment guests, plan timing, and offer value-added perks to optimize your discounts. In conclusion, discounting isn't inherently detrimental. When used strategically, it's a powerful asset in revenue management. Let's reshape the narrative and drive sustainable growth! Maximize your hotel's revenue potential with RMCS. Let us handle revenue management while you focus on your business. Connect with us at [https://lnkd.in/eEMYPAj2] for more. #HospitalityIndustry #RevenueManagement #StrategicDiscounting #UnlockRevenuePotential #HotelIndustry #HospitalityManagement #RevenueStrategy #DiscountStrategy #RevenueOptimization #HotelRevenue #HotelMarketing #GuestExperience #LoyaltyPrograms #BusinessTravelers #LeisureTravel #HotelBookings #RevenueGrowth #HospitalityLeadership #Hoteliers #RevenueMaximization #HospitalityTrends #HotelBusiness #HotelSuccess #RevenuePerformance #ValueEnhancement

➡️ There's a common misconception among hoteliers and hotel managers that revenue management is solely focused on room rates. ⚠️ This oversimplified view can lead to missed opportunities. 📖 Our latest article dives deep into why this myth is misleading and explores the multifaceted nature of effective revenue management. 🔍 Highlights of this article: 🔸Comprehensive market analysis beyond just room rates 🔸Leveraging multiple revenue streams like food and beverage, spa services, and event spaces 🔸Importance of upselling, cross-selling, and data-driven decisions 🔸Enhancing customer satisfaction through personalized strategies 🔸Understanding these elements can help hoteliers maximize profitability and provide exceptional guest experiences. Read the full article (link below) to discover how embracing a holistic revenue management strategy can transform your hotel operations. ✅ 🔗 Article link: https://lnkd.in/dXCpMKJy . #RevenueManagement #HotelIndustry #LybraTech #Hospitality #HotelManagement #DataDriven #hotel #hotelier Zucchetti Hospitality Lybra Tech Zucchetti Fulvio Giannetti Claudia Martin

Optimizing hotel operations is the key to success in the industry. But, what are some of the best properties doing to streamline their processes? Let’s dive into these four strategies that are helping top-notch hoteliers excel: 1️⃣ 𝗨𝘀𝗶𝗻𝗴 𝘁𝗮𝗶𝗹𝗼𝗿-𝗺𝗮𝗱𝗲 𝘁𝗮𝗯𝗹𝗲 𝗺𝗮𝗻𝗮𝗴𝗲𝗿𝘀 𝘁𝗼 𝗲𝗹𝗶𝗺𝗶𝗻𝗮𝘁𝗲 𝗿𝗲𝘀𝘁𝗮𝘂𝗿𝗮𝗻𝘁 𝗾𝘂𝗲𝘂𝗲𝘀. 2️⃣ 𝗕𝗼𝗼𝘀𝘁𝗶𝗻𝗴 𝘀𝗲𝗿𝘃𝗶𝗰𝗲 𝘃𝗶𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗼𝗻 𝗮𝗻𝘆 𝗱𝗲𝘃𝗶𝗰𝗲 𝘁𝗼 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗿𝗲𝘃𝗲𝗻𝘂𝗲. 3️⃣ 𝗚𝗮𝘁𝗵𝗲𝗿𝗶𝗻𝗴 𝗿𝗲𝗮𝗹-𝘁𝗶𝗺𝗲 𝗳𝗲𝗲𝗱𝗯𝗮𝗰𝗸 𝘁𝗼 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 𝗴𝘂𝗲𝘀𝘁 𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲𝘀. 4️⃣ 𝗥𝗲𝗺𝗼𝘃𝗶𝗻𝗴 𝘂𝗻𝗻𝗲𝗰𝗲𝘀𝘀𝗮𝗿𝘆 𝘀𝘁𝗮𝗳𝗳 𝗽𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝘀 𝘁𝗼 𝗲𝗻𝗵𝗮𝗻𝗰𝗲 𝗽𝗲𝗿𝘀𝗼𝗻𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻. By implementing these strategies, hotels can elevate their service quality and guest satisfaction to new heights. #Hospitality #HotelManagement #GuestExperience #HotelOperations #CustomerService #HotelTech

🏨 🤑 4 Tips to boost your hotels trevpar! 1. Personalized Upselling Offers: Strategy: Tailor upselling offers to individual guest preferences and behaviors. Implementation: Leverage guest data and preferences to recommend personalized upgrades, add-ons, or experiences. Benefits: Enhances guest satisfaction, increases the perceived value of their stay, and maximizes revenue from each booking. 2. Strategic Timing and Communication: Strategy: Time your promotions and communication effectively to capture guest interest. Implementation: Send targeted offers or promotions during high-demand periods or through strategic marketing campaigns. Benefits: Encourages bookings during specific timeframes, optimizes revenue during peak seasons, and creates a sense of urgency for potential guests. 3. Bundle Packages and Promotions: Strategy: Combine room bookings with additional services or amenities. Implementation: Create attractive packages that include services like spa treatments, dining vouchers, or local experiences. Benefits: Increases the overall spend per guest, promotes the utilization of on-site amenities, and attracts guests seeking value-added experiences. 4. Staff Training and Incentives: Strategy: Equip staff with the knowledge and tools to actively promote upselling and value-added services. Implementation: Provide training on effective upselling techniques and incentivize staff with rewards for successful upsells. Benefits: Empowers staff to contribute to revenue generation, enhances the guest experience, and creates a culture focused on maximizing revenue opportunities. Remember, a comprehensive approach that combines these strategies can significantly impact TrevPAR by not only increasing room revenue but also by optimizing revenue from additional services and offerings. Tailor these strategies to align with your hotel's unique selling points and the preferences of your target audience. #hospitality #hotel #resort #upselling #trevpar #revpar #revenuemanagement #revenuemanager #therevenuecrew

Pricing can make or break your hotel’s success, yet many properties fall into the same traps that can hurt their revenue. Here are some common pitfalls in hotel pricing strategies and how to steer clear of them: ✔️Ignoring Market Trends: Stay competitive by regularly adjusting rates based on local events, competitor pricing, and demand. ✔️ One-Size-Fits-All Pricing: Customize rates across channels and guest segments to maximize revenue. ✔️ Over-Reliance on OTAs: Promote direct bookings to reduce dependency on online travel agencies. ✔️ Lack of Rate Parity: Maintain consistent rates across all platforms to build guest trust. ✔️ Overlooking Ancillary Revenue: Boost profits by bundling additional services like dining and spa treatments. Avoid these common pitfalls by staying informed, being flexible, and optimizing every aspect of your pricing strategy. By doing so, you’ll not only boost your revenue but also enhance guest satisfaction. https://wix.to/e9T1gGS

Today's Revenue Management Focus: Upselling and Cross-Selling Strategies Effective upselling and cross-selling strategies play a key role in revenue management for hotels, allowing them to enhance the guest experience and increase revenue opportunities. Upselling involves offering guests premium room upgrades, additional services, or special amenities to increase the average spend per guest. By highlighting the value and benefits of these enhancements, hotels can capitalize on guests' preferences and willingness to pay for added luxuries. Cross-selling, on the other hand, entails promoting complementary services or products to guests during their stay, such as spa treatments, restaurant reservations, or local experiences. This not only boosts ancillary revenue but also creates a tailored and personalized guest experience that fosters loyalty and satisfaction. By incorporating upselling and cross-selling techniques into the overall revenue management strategy, hotels can optimize revenue streams, drive profitability, and cultivate lasting relationships with guests. Elevate guest experiences and maximize revenue potential through strategic upselling and cross-selling initiatives! 💼🌟 #Hotels #Hospitality #RevenueManagement #Upselling #CrossSelling #GuestExperience #AncillaryRevenue #Personalization #BusinessStrategy

Why Guests May Not Return to Your Hotel & How to Win Them Back 🏨✨ In hospitality, repeat customers are key to long-term success. If guests aren't returning, there might be underlying reasons worth addressing. Here are a few common ones and actionable steps to encourage them to visit again: Inconsistent Service – Every guest should receive the same high standard of service each time they visit. Action: Invest in staff training programs and standard operating procedures (SOPs) to maintain consistency. Poor Cleanliness – First impressions matter. Rooms or common areas that aren’t spotless can turn guests away. Action: Implement rigorous cleaning schedules and quality checks. Lack of Personalization – Guests appreciate when you remember their preferences or make their stay special. Action: Use guest data to personalize offers, room preferences, or dining experiences. Unresolved Complaints – A guest who feels their concerns were ignored or not addressed is unlikely to return. Action: Ensure prompt and effective resolution of any complaints, making them feel valued. Limited Amenities or Outdated Facilities – If guests feel the facilities don’t meet their expectations, they may explore newer options. Action: Regularly update and maintain your amenities to stay competitive. Price vs. Value Perception – Guests may feel they didn’t get value for their money. Action: Focus on enhancing the guest experience to justify your pricing through thoughtful touches, extras, or loyalty benefits. Indifference in Engagement – Lack of follow-up or ongoing engagement after a guest’s stay may cause them to forget about you. Action: Stay connected with guests through personalized emails, offers, and special promotions. Ensuring guest satisfaction, delivering memorable experiences, and consistently exceeding expectations are key to converting one-time visitors into loyal repeat customers. ✨ How does your hotel ensure guests keep coming back? #HospitalityInsights #GuestExperience #HotelManagement #RepeatGuests #CustomerLoyalty #HospitalityExcellence

The service experience is such an important part of the overall experience your guests receive. It pays to be really thoughtful about how your brand comes to life through your people and the service they deliver. Start with the basics and delivering those brilliantly every time, and then you can add the wow moments that truly reflect your brand. Service training is critical to delivering those basics well - and also helps as an employee engagement tool. As Ali (and the Service Profit Chain) says "Happy Employees = Happy Guests = More Profit" 😀

🔑 Unlock Hidden Revenue in Your Hotel! 🔑 Is your hotel leaving money on the table? 💸 With the right revenue strategy, you can turn guest data into pure gold. Here’s how smart hotels are increasing revenue, even when occupancy rates are flat: 🎯 Targeted Offers: Send personalized deals guests can’t resist – think room upgrades, dining discounts, or spa packages. 📈 🤝 Loyalty that Lasts: Create VIPs out of regular guests with tailor-made rewards that keep them coming back. 🏆 🚀 Upsell Like a Pro: Offer real-time upgrades and services based on your guests’ preferences and behaviors – before they even ask. 💼 📅 Predict Demand: Use insights to fill rooms during slow periods with the right offers at the right time. 💡 💬 Post-Stay Magic: Don’t say goodbye – nurture long-term relationships with automated follow-ups that bring guests back. 🔄 Ready to turn guest data into a revenue machine? Let’s talk about how WeBee can transform your hotel business! 💬 #Hospitality #WeBee #HotelRevenue #CustomerExperience #GuestEngagement #HotelManagement