All The Tools You Need To Increase Hotel Revenue
Master the traditional drivers of higher revenue and profits:
- Direct Bookings through smarter advertising and better website conversion
- Efficient online distribution and channel management
- Dynamic pricing and revenue management that reflects supply and demand
PLUS, how to use Artificial Intelligence to improve all the functions above, and still improve the guest experience.
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What You Will Learn
Direct Bookings.
This is obviously about Digital Advertising and Marketing and getting quality traffic to your website - but it's also about two more important things that are often neglected: Conversion and Mobile. In short, these are some of the main reasons that OTAs still retain a major share of revenue from independent hotels.
Distribution.
Beyond the obvious channels, pick your channels carefully. Make sure to do a great job in each one to maximize visibility and automate rate structures for efficiency and effectiveness. Then, think about expanding to new channels, when you can consistently execute in all the channels. Software and data management are key.
Revenue Management.
It is possible to optimize both Occupancy AND ADR, because you're not selling rooms, you're selling dates, and each date has it's own demand. If you are not adjusting rates for the next 100 days - at least once a week - based on demand data, then you are leaving money on the table.
Traditional Technology.
Many tasks can be automated, but many hotels lack the technical expertise to know what's possible, or perhaps lack the budget to implement all the software they would like. But view this as an investment and you can reduce manual work, and increase accuracy, which ultimately leads to happier guests.
Operations.
Very often, a process improvement needs to happen before automation. Automating a bad process will often lead to expensive problems. Learn to think deeply about integrating new software tools into your organization to get the best results.
Artificial Intelligence.
A.I. is accelerating rapidly in terms of capability and adoption. "The future is already here, it's just not evenly distributed." You don't want to be on the wrong end of that quote. This is a huge opportunity for boutique hotels to compete on equal footing with larger hotels, as well as make all their employees more productive and dazzle their guests.
What people have said about our courses
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Easy to understand and very informative!
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Its rare to get this kind of content keep going.
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Great stuff. Thank for your sharing this helpful information. The yield management spreadsheet sample is especially appreciated.
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Precisely explained the way to maximize revenue and maintain the occupancy of the hotel for RM.
Your success is personal to me. These tools work -- and we are here to support you.
Robert Russell, Owner, Resort Income
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