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Profit optimization for the travel industry: How to do it?
In good times or bad, it is important to optimize your ability to generate profit. The best way to do this is to take steps to increase your profit margins. These steps include accurately measuring your margins, carefully calculating your total costs, considering the 80/20 rule, looking at your existing sales, plus upselling and creating […]
What is the look-to-book ratio and how you can improve it
What is the look-to-book ratio? The look-to-book or look to book ratio is exactly what it says it is: a comparison of the number of people who visit a website with the number who make a booking. This ratio, if used with other important key performance indicators, can help travel companies understand how effective their […]
The importance of profit optimization during crisis times
The international tourism industry is reeling from the impact of the coronavirus. Travel agents and tour operators are devoting most of their time to dealing with cancellations and enquiries from anxious customers as to whether it is safe to travel. As the number of infected persons continues to rise across the world, 24-hour news coverage […]
How to Maximize profits from your hotel booking segment
The rise of Cloud services and the still-evolving potential of big data have brought a revolution to the travel industry which is still playing out, as noted by McKinsey as far back as 2012. One of the many benefits brought by big data is the ability to predict price fluctuations in hotel rooms and vacation […]
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