Posts by author

Mia Belle Frothingham

34 posts
View Post
  • 5 min

Creating an Irresistible Guest Loyalty Program to Drive Repeat Bookings

🏨 Independent hotels can enhance guest loyalty by personalizing rewards, offering unique experiences beyond discounts, simplifying point earning, leveraging technology for engagement, rewarding direct bookings, and utilizing referrals and social proof. Regularly tracking and adapting the program based on feedback ensures its effectiveness. This strategy aims to reduce customer acquisition costs and increase repeat bookings, fostering long-term profitability.
View Post
Share
View Post
  • 4 min

7 Essential Revenue Management KPIs Every Hotelier Should Track

🏨 Hotel revenue management is vital, with KPIs like RevPAR (Revenue Per Available Room), ADR (Average Daily Rate), and Occupancy Rate playing key roles. RevPAR is calculated by dividing Total Room Revenue by the Number of Available Rooms, while ADR is the Total Room Revenue divided by the Number of Rooms Sold. Occupancy Rate is the proportion of Rooms Sold to Total Available Rooms, expressed as a percentage. TRevPAR (Total Revenue Per Available Room) considers all revenue streams, computed as Total Revenue divided by Number of Available Rooms. GOPPAR (Gross Operating Profit Per Available Room) accounts for profitability after operational expenses, calculated by subtracting Operating Expenses from Total Revenue and dividing by the Number of Available Rooms. CPOR (Cost Per Occupied Room) helps manage service costs per room, and Booking Pace assesses the rate of future bookings. RevOptimum offers expertise in these KPIs to optimize hotel revenue.
View Post
Share
View Post
  • 4 min

Distribution is the Key to Success: Are You Capturing the Other 50%?

🏨 Studies indicate hotels may be missing out on up to 50% of potential bookings by not diversifying their distribution strategies. Distribution channels include OTAs, GDS, meta-search engines, mobile-only booking platforms, and corporate contracts. Expanding distribution can increase occupancy, diversify the guest base, and boost revenue. Effective distribution requires a multi-channel strategy, direct bookings promotion, high visibility, integrated technology, and continuous performance monitoring. RevOptimum provides personalized revenue management services to help hotels maximize their booking potential and revenue.
View Post
Share
View Post
  • 5 min

6 Hacks to Drive Immediate Exposure to Your Hotel WITHOUT Reducing Rates

🏨 To attract hotel guests without lowering rates, leverage social media for exclusive offers, increase meta search spend, craft email campaigns for past guests, and use OTA tools like Expedia’s Accelerator or Booking.com’s Visibility Booster. Agoda and Priceline growth campaigns offer global exposure. Pay-On-Performance media campaigns provide visibility with no upfront costs, focusing on actions like bookings or clicks. RevOptimum, with 30 years of experience, empowers hotel revenue growth, pioneering remote management solutions and innovative revenue tools, dedicated to impacting the hospitality industry positively.
View Post
Share
View Post
  • 3 min

[Webinar] Prepare for High Season: Essential Strategies for Success

📆 Hoteliers preparing for high season can register for a webinar on August 27 at 10am CDT aimed at maximizing occupancy rates. The webinar by RevOptimum and SiteMinder discusses U.S. high season trends, common challenges like demand fluctuation and guest expectations, and strategies for success. It targets hotel owners, managers, and revenue management professionals. RevOptimum offers personalized revenue management services and strategies to increase hotel RevPAR.
View Post
Share
View Post
  • 5 min

5 Common Mistakes in Hotel Revenue Management and How to Avoid Them

💰 Avoid common revenue management mistakes in the hospitality industry by incorporating real-time data, optimizing distribution channels, implementing dynamic pricing, focusing on customer segmentation, and monitoring competitor actions to enhance hotel performance and profitability. For instance, instead of static pricing, employ dynamic pricing strategies based on demand and market conditions using revenue management systems (RMS) and regularly review your strategies. Optimize OTA listings, promote direct bookings, and balance channel mix to maximize visibility and profits. Understand different customer segments to tailor marketing and offers for increased bookings and guest satisfaction. Regularly conduct competitor analysis and adjust strategies accordingly to stay competitive. Leave hotel revenue management to the experts like RevOptimum for a personalized strategy to boost RevPAR.
View Post
Share