Information and data about hotels.
As a hotel manager, one of your primary responsibilities is to ensure that your rooms are filled with guests, maximizing your revenue. But with so many variables to consider, it can be challenging to strike the right balance between occupancy and room rate. This is where hotel inventory management comes into play. Inventory management involves deciding when and how to allocate your hotel’s rooms. This includes forecasting demand, setting room rates, and giving rooms to specific channels and promotions. Effective inventory management can help you optimize your room revenue, ensuring that your hotel runs efficiently. Here are some key strategies for effective hotel inventory management: Forecast Demand Accurately: Forecasting demand is the foundation of effective inventory management. You need to know when your hotel is likely to be busy and when it will be quieter, so you can make informed decisions about room allocation and rate setting. To forecast demand accurately, consider a range of factors, including historical occupancy data, seasonality, local events and promotions, and wider economic trends. Set Dynamic Room Rates: Dynamic pricing involves setting room rates based on real-time supply and demand. For example, if your hotel is running at full occupancy during a busy period, you …
You know it better than most. You live and die by your star rating. The average traveler makes booking decisions based on as little as a 0.1 difference in scoring. Whether it’s your score on a travel booking site like Expedia or your hotel rating, how are you keeping up with changing star ratings? The tiny details matter. New requirements for technology and guest experience mean the difference in whole star ratings. And the 0.1 difference as mentioned above may mean the difference in a 4.6 versus a 4.7 rating. When 63% of travelers make a booking selection based on this slim margin, it will directly impact your revenue. When hotels present their technology to guests, it’s a true benefit. We’ve seen a 13% lift in hotels that specifically list their technology, like Monscierge’s Apple TV for Hospitality. Hotels that showcase this alongside their well-crafted properties are viewed as innovators who will provide travelers with a modern experience. Travel has returned. Business, pleasure, and now a growing contingent of those working remote dominate bookings. Monscierge helps you keep up with your star ratings and even increase them. Whether supplying hotel guest communication, lobby signage, or the best streaming and casting …
How do you judge your property’s performance? Do you look at your ratings? TripAdvisor score? During a poll, only around 42% of rental owners actively reviewed their ongoing ratings. Owners who actively reviewed their scores on average maintained higher occupancy and increased revenue. But what goes into reviewing scores? Potential guests look to ratings and reviews as a gauge for their stay. Even if you’re getting good ratings, do your guests rave? Do they highlight communication and information? Lack of accurate or up-to-the-minute information is one of the leading complaints amongst travelers. Messaging to the guest can head off unclear directions or worry about getting into a property. No one sells your product better than other people. Highlight your differences, showcase amenities like A/C, high-speed Internet, and technologies like Hospitality TV. We’ve found that when properties highlight tools like Apple TV for Hospitality for streaming and entertainment, guests react positively. By highlighting what you have ahead of time, it helps solidify the experience. Property owners have spent their hard-earned time and money building or rehabbing properties, so it’s a shame to stop when so close. So stop gambling your ratings and start taking charge by offering critical features and functionality …
Is it a guidebook, in-room compendium, welcome book, directory, or the house rules? No matter what you call it, your guidebook is a central way to share information with guests. But there are better modern experiences that offer considerable leaps in value and benefit for both guests and owners. The digital compendium is the solution. It’s the digital means to display every bit of information you’d have in your book but presented in real-time. Your neighborhoods and communities change in real-time why shouldn’t you? A guest reviewing a digital guidebook is 36% more likely to trust curated recommendations than those from a printed binder. Real-time updates mean if a location closes or you make a change to your property, you can instantly make the update without needing to reprint or wait until guests exit. The digital compendium is consumed in real-time and delivered as a website through an SMS, QR code, or email link. It’s can also be presented as part of a welcome message through your in-room entertainment hospitality tv system. What if we told you 3 in 4 guests would prefer a digital guide to a printed binder? Most people have their mobile devices with them around the …
People sure love TV — but they don’t love their TV provider. Many cable executives have tried to pretend their industry isn’t in the middle of a monumental industry shift. Still, amidst consumers demanding more choice, a turbulent economy, and a global pandemic, cord-cutting is real and taking over. Endless rate hikes, complicated contracts, extensive service fees, and a lack of focus on the customer are directly to blame. Contracts and rights agreements make television content prohibitively expensive and add a designed level of complexity that makes it just out of reach for many. Experts expect 25 million U.S. households to cancel their pay-TV service over the next five years. And that’s on top of the 25 million that have already cut the cord since 2012. Add the global pandemic that has thrown nearly every industry into disarray, created extensive unemployment, and caused businesses and consumers to re-evaluate almost everything. The pay-tv cost has helped spur many on the fence to make the digital leap and finally cut the cord. Based on a Summer 2020 Monscierge survey, the primary driver for hotels and boutiques during the remainder of 2020 is to save money. A bar in Arizona recently told The …