According to a recent report from our partner Siteminder, international travel is on the upswing, and hotels are seeing a welcome resurgence in bookings.

Key findings include:

• International trips on the rise: Travelers are booking earlier and venturing abroad again.
• Increased room rates: Prices are higher, but guests remain willing to pay.
• Opportunities for hotels: Rising demand presents a chance to maximize revenue streams.

Here are five strategies hotels can use to seize the moment.

1. Embrace Revenue Management

Your room inventory is your most valuable asset. Effective revenue management requires:

• Tracking demand patterns and competitor pricing
• Using analytics to make informed pricing decisions
• Adjusting strategies regularly to capture optimal value

If you don’t have a dedicated revenue manager, consider AI-driven revenue management tools like Pricepoint to automate pricing decisions and maximize occupancy.

2. Cultivate a Compelling Online Presence

In 2024, your digital presence is your storefront. Focus on:

• A mobile-friendly, SEO-optimized website
• Active social media profiles with engaging content
• Online reviews management—monitor, respond, and build credibility

A strong online presence builds brand trust, boosts visibility, and drives direct bookings.

3. Leverage the Power of Distribution Channels

While OTAs like Expedia and Booking.com take commissions, they also offer exposure to massive audiences. To maximize ROI:

• Optimize listings with professional photos and detailed descriptions
• Monitor performance metrics and adjust promotions
• Balance OTA exposure with direct booking incentives

This ensures you benefit from OTA reach without sacrificing profitability.

4. Unlock New Revenue Streams

Think beyond base room rates. Offer:

• Pre-arrival room upgrades
• Early check-in or late check-out
• Amenity bundles or exclusive services

This strategy not only generates extra revenue but also frees up standard rooms to sell again at premium rates.

5. Master Upselling and Cross-Selling

Empower staff to act as revenue champions by:

• Offering personalized recommendations (e.g., spa, dining, or tours)
• Creating bundled packages tailored to guest needs
• Promoting add-ons throughout the guest journey

Done right, upselling enhances the guest experience while increasing revenue per stay.

Conclusion

The resurgence of international travel in 2024 is a pivotal moment for hotels. By implementing revenue management, strengthening online visibility, leveraging OTAs, unlocking new revenue streams, and upselling effectively, hoteliers can maximize revenue and build long-term loyalty.

👉 To discover how AI-powered pricing can help your property optimize revenue in this dynamic market, book a free Pricepoint demo today.

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