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How to optimize revenue strategy with rate optimization

While the past several weeks haven’t been easy, it’s no secret that the recovery period will also be a challenging time for hoteliers. A strong revenue management strategy which allows you to secure market share and maximize average spend is the key to success in this time of slowly growing demand.  To help you create such a strategy for your...
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How much can you really make from upselling?

Use the incremental revenue calculator to discover your property’s potential! Upselling is a great way to both improve your guests’ experience at your hotel and to boost your revenue through paid upgrades and ancillary services. Upselling success factors A recent benchmarking report shows that factors such as property type (e.g. luxury hotel, city...
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How much revenue can hotels generate from upselling? [Free benchmark report]

Upselling is a hot topic and you can read about it everywhere. Countless articles offer tips on why and how to upsell, but few will ever show you numbers that answer another important question: Is upselling really worth it? Of course, here at Oaky we believe that YES, it is! But we don’t expect you to just take our word for it. Instead, check out...
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9 Easy Ways to Increase Your Hotel Revenue

  After trying various tactics of shifting room rates up and down and getting limited results, increasing hotel revenue might seem much easier said than done. But there are many other ways to boost revenue which often go overlooked. In this post, we highlight nine ideas to increase revenue within a week, a quarter or over the course of a year.  3...
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3 ways to increase ADR and RevPAR with 0% commission

  There are only 3 certainties in life; death, taxes and high commission rates on OTA reservations… The hotel industry is a continuously changing landscape. Ever since my first day in hospitality, each day has been different, and the industry is generally a wild roller coaster ride for everyone involved. Nevertheless, there are some constants...
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Work Smarter Not Harder – Make Segmentation a Revenue-Booster with Oaky

The basis of revenue management is the 5 Rs which are selling the right room on the right channel to the right customer at the right time at the right price. This can easily be applied to upselling and ancillary revenue sales as well. By using the power of segmentation and marketing, Oaky pairs traditional revenue management practices with...
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Why saving the planet with “Free Pizza” is the modern way of upselling

Save the planet with free pizza What comes to mind when you think of upselling? Extras like a bottle of Champagne or a room upgrade? Probably not “Save the planet with Free Pizza” or “Fons the Fish for a more social stay”. In the start of Oaky, we used to think about which services hotels would offer. But we had no idea to what extent creative...
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Average Daily Room Rate (ADR)

  What is ADR? ADR is the average daily income per paid occupied room and is used to measure the operating performance of the hotel. ADR is one of the KPIs used by hotels. Other KPIs like Occupancy Rate are used in combination with ADR to result in revenue per available room (RevPar). How to calculate ADR? The average amount paid per room over the...
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RevPar

What is RevPar? RevPAR (Revenue Per Available Room) is the most commonly used KPI to measure financial performance in the hotel industry. Many of you readers will probably be quite familiar with this ratio. Why are hotels using it? Specifically, Revenue Managers are using RevPAR to compare the performance of their property against: themselves for...
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Top 7 Resolutions for Revenue Managers

I was wondering what this year will bring to the world of Hotel Revenue Managers. What will be important to them.  What trends to follow. So I asked 5 top Revenue Managers in the Benelux about their Resolutions and here is what they said: #1 / Continue what you’re doing (well) To be winning, Revenue Management needs to be part of a long term...
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