Vendor Management refers to those processes that organizations in this case Hotels use to manage their suppliers. This ensures that Hoteliers continue to get products and services at a fair price. Elements of Successful Vendor Management Pre-defining what the Hotelier...
Continue ReadingBy optimizing the Hotel website for SEO, implementing Booking Master's property management system and using online marketing to reach potential guests the Hotelier can stay ahead of the competition and attract more bookings. Some key steps to drive online sales...
Continue ReadingNowadays, potential customers prefer to visualize and learn more about a product or service before they make a purchase. Thus, driving guests to book your Hotel Room Online requires a combination of effective strategies and practices to create a seamless...
Continue ReadingLet’s sneak peek into some core statistics. According to the World Tourism Organization, in 1999, over 593 million international travellers were 60 years and older. This figure accounted for around 1/3 of holiday spending. Now this number is projected to...
Continue ReadingIf you’re running a hotel or Resort, availing the service of Booking Master's Hotel Revenue Management Software is the best business decision you can make. Revenue management basically involves forecasting demand, setting prices, and optimizing inventory to maximize revenue and...
Continue ReadingToday, effective communication plays a pivotal role for successful businesses and their customers. Nowadays, guests prefer to interact with the Hotel Team effortlessly using texts, images, and emojis. Hence, Messaging apps like WhatsApp, Facebook Messenger, etc., are the most preferred...
Continue ReadingIn Hotel accounting cash flows are tracked across departments and the hotel’s financial position is analysed so that the balance sheets, profit and loss, and cash flows are all up-to-date. Accounting makes budgeting, forecasting, or cost planning much more effective...
Continue ReadingIn the Hotel Industry, Hoteliers should consider demand analytics as it is a crucial tool that can be used to determine pricing. In this context, seasonality (high and low seasons) plays a key role. In the high seasons, due to...
Continue ReadingA ‘Channel’ is a third-party website. It is often referred to as an Online Travel Agent (OTA). These third-party websites allow users to search and book Hotel Rooms and Flights. These channels get into an Agreement with the Hotelier. As...
Continue ReadingIntroduction An effective hotel marketing strategy can help you shine and stand out from the rest in the Hotel Business. You can employ a number of sales strategies to market and sell your hotel rooms. These strategies not only maximize...
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