hotelogix-blog

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Technology is no longer a luxury but a necessity in today’s changing hospitality landscape. Computing data is now more important than ever because of the weight of the data that flows for any given process, during any point of time. Hotels process a lot of data, on any given day- be it independent hotels or chains.From the number of reservations that take place to the requests raised by guests,  to stocking up on inventory, the list is endless.

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In today’s fiercely competitive market, you need to stay one step ahead of your competition when it comes to adopting technology to grow your hotel business. Or else, you are bound to face operational bottlenecks. Read on to know how can you handle multiple POS outlets with the help of Hotelogix Cloud PMS.

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Independent hotel owners have a huge set of responsibilities to manage their hotel on a daily basis. Additionally, the increasing levels of competition only add to the worries. There are enormous challenges pertaining to an independent hotel’s digital marketing plan. Reason – travelers are getting tech-savvy and sometimes, hoteliers lack the urgency to adopt technology. Marketing your hotel rooms online is more than merely updating on OTA sites. To promote a hotel online, you require a combination of skills, strategies and of course, the right use of smart technologies.

hotel digital marketing,challenges in hotel digital marketing,promote hotel online,how to market a hotel online,digital marketing in hospitality industry

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Looking for options to reduce hotel operational costs? Read on to know more.

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The dawn of the 80’s saw the rise of videos and the slow demise of the radio, which led to one of the greatest hits of that era, “Video killed the radio star”, by the Buggles. The song doesn’t welcome the change that motion pictures brought into the entertainment industry and is, in a sense, a sort of farewell to the radio, that was present in every home at the time. However, the takeaway from this is that some 30 years later, today, video has become the most popular medium of entertainment and information.

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As a hotelier, are you taking full advantage of today’s cutting-edge hospitality technology platforms to automate daily operations, increase efficiency, save time, reduce costs and avoid errors? Does your Property Management System effectively help you attain all the above-mentioned benefits?  channel manager integration,cloud hotel pms,ota integration,hotel overbooking,hotel brand visibility

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There has been a lot of talk about the pros and cons of on-premise and cloud-based Property Management Systems and have turned out to be the debate of the decade in the hospitality space. With even the leaders in on-premise systems slowly shifting their focus on developing their own cloud-based platforms, it’s safe to say that cloud has captured the industry due to the utility it brings in and the ability to grow in the space.

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As a hotelier, you really cannot avoid the influence of OTAs when it comes to getting indirect booking. But, looking at the hefty commission percentage you pay to your OTA partners per booking, it’s always advisable to explore various ways to acquire more direct booking that are commission-free.

direct booking strategy,direct booking hotels,hospitality distribution management,ebook for hospitality,ota strategy,how to increase direct booking,how to maintain ota bookings 

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Have you ever wondered why OTAs give you more bookings? Why the average online hotel booking engine conversion rate stands at below 2% despite hoteliers spending on marketing and SEO activities?

hotel booking system,online hotel booking engine,hotel booking management system,facebook booking engine,features of a booking engine,must haves in a booking engine,booking engine hacks for hotels,must-haves in a booking engine

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Learn how to improve your guest experience to improve your hotel reputation and occupancy.  

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Unable to leverage the power of OTAs to generate more bookings?

Read on to know how to improve your OTA bookings to increase occupancy and revenue.

ota booking,ota hotel booking,ota hotel management,ota strategy for hotels

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With changing time and increased competition, many hotels now have started using hotel industry business insights to take relevant business decisions, ultimately to increase hotel revenue. However, are you one of those smart hoteliers who understands the importance of big data analytics when it comes to run your hotel business efficiently?

hotel industry business insights,increase hotel revenue,hotel revenue management,big data analytics,hospitality big data,tips to increase hotel revenue,business insights to increase hotel revenue,hotel strategy to increase revenue

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Want to significantly enhance operational capabilities and overall efficiency at your hotel? Look no further! Hotelogix has you covered. Read on to understand how to go about it. 

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Hotelogix cloud-based hotel management system offers next-gen capabilities needed by hotels to simplify reservations, improve operating efficiency and maximize revenue. Hotelogix is a trusted cloud-based PMS by hotel properties across 100+ countries.

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Mobile devices have become an integral part of everyone’s life, both professionally and personally. They play the role of a catalyst between the user and the world they live in. In the hospitality industry, even though guests have been enjoying the benefits of smartphones, Hoteliers are usually restricted to workstations for much of their operations. But things are changing for good. Hoteliers today, can make use of Mobile Hotel PMS and Hotel management Apps to cater to their guests with utmost ease.  mobile hotel pms,hotel management app,hotel front desk mobile app,mobile hotel management,why your hotel needs mobile pms

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t's important for hotels to put effort on handling online distribution and guest reviews. Manually managing both is a time consuming and implementing right hospitality technology software can efficiently help hotels to automate and streamline both. To know more, read https://bit.ly/2Lf7c7Y

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Top 5 Common Hotel Revenue Management Mistakes That Can Harm Cost Your Hotel’s Profit Dearly

Implementing the best procedures and practices of revenue management at a hotel to increase overall revenue is not an easy task. Especially, when the market is as fiercely competitive as it is today. Smart hotel revenue management is all about how efficiently you locate new revenue opportunities, optimize inventory/rate distribution and how well you analyze competitor pricing strategy, plus local market demand. Moreover, it also depends on the extent to which you understand the importance of hotel business intelligence, on decisions pertaining to revenue management. However, even the smallest of miscalculations can backfire and sabotage all your hard labor towards maximizing revenue at your hotel.

Here are top 5 mistakes you must avoid –

1. No strong inventory distribution plan

Not having a strong and well-structured inventory distribution plan across OTAs, GDSs, hotel website, etc can result in inefficient revenue management strategy. Inefficient inventory management leads to issues like overbooking, double booking, under booking, etc. These issues lead to other problems like guest dissatisfaction, loss of revenue and business opportunities. Additionally, not monitoring sales channels’ performance is also not ideal when we talk about hotel revenue management.

You must know which sales channels are working for you, in terms of giving you more revenue. You must understand this clearly – it is mandatory that you have a right strategy in place to drive more direct booking via your hotel website, while striking the right balance with your OTA partners. You also cannot ignore the large presence of offline travel agents and must work with the leading GDSs.

In short, it is a must to have a strong inventory distribution plan, both online and offline, in order to increase your RevPAR.

2. Ignoring guest service, their feedback & online reputation

You really cannot ignore the importance of guest service, when you aim to improve your hotel’s revenue. You simply cannot go wrong here. Why? Here is the explanation – if you can increase your reputation score just by 1%, you will be in a position to increase your hotel’s ADR by almost 7%. Moreover, increasing your reputation score will also help you to increase your occupancy by 1.4%. Now, this is what you want to achieve, right?

Best-in-class guest services increase their (guests’) happiness; they become your loyal customer and they give you repeat business. They also write positive feedback about your property on various review sites and on social media platforms. This helps you improve your online reputation and rating. And with an enhanced online reputation/rating, you will be certainly in a position to increase your room price.

3. Making assumptions, focus on wrong metrics

On what basis can you come up with an occupancy forecast and room pricing, if you are not in a position to analyze local market demand? How would you beat the competition if you don’t track their pricing? To do all these with ease, you must understand the importance of business intelligence in revenue management.

Key metrics on such aspects will surely help you to analyze and increase ADR while improving the occupancy. As you know that higher ADR is the key to your hotel’s profitability, too much of focus on ARR or occupancy might not help you in the long run.

4. Not adopting occupancy-based dynamic pricing

Hoteliers’ failure to change room rates is another major mistake they commit. While having a static rate will weaken your hotel position, occupancy based dynamic pricing can help you to reach your full revenue potential. Set pre-defined rates for different occupancy levels. For instance, a offer a 10% lower rate when occupancy is at 70% and roll out a discount of 20% when occupancy goes below 50%. This helps you generate more demand during off seasons, and earn more revenue when demand is on higher side.

5. Not adopting a smart cloud-based PMS

This is the most serious mistake that hoteliers must avoid in today’s highly competitive business environment. With the absence of a smart cloud-based PMS, you cannot –

Have a strong inventory distribution plan

Manage guest reviews and improve reputation score/rating

Have KPIs at your disposal to take data-driven decisions

Apply occupancy-based dynamic pricing

Additionally, a cloud PMS comes integrated with a revenue management solution. Without this, you cannot create relational rates and implement multiple rates & types support in a single stay.

In short, with the help of a revenue management solution, you can optimize GOPPAR (Gross Operating Profit) and NRevPAR (Net Revenue per Available Room) at your hotel while offering competitive yet attractive rates to your guests.

This article originally published on Hotelogix Blog.