Hot Tips!

How far do your guests book in advance?

Monitoring how far in advance guests are booking is essential to boost profitability, increase occupancy and improve upsells,. If guests tend to book last minute, it may indicate that initial rates are too high, prompting them to wait for discounts. However, a high volume of last-minute bookings can negatively impact cash flow. When guests delay their reservations, it creates uncertainty in forecasting revenue and managing operational costs. Additionally, frequent last-minute discounts can lead to a cycle where regular guests—especially regular or corporate guests—learn to expect lower rates. This can undermine your pricing strategy and reduce overall profitability in the long run. By encouraging earlier bookings, you can stabilize cash flow, maintain strong pricing, and maximize revenue potential.