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STAAH Blog

  • Home
  • MANAGEMENT
    • The Role of a Hotel Revenue Manager:…

      Why Every Hotel Needs a Channel Manager…

      Program Konsorsium Hotel: Bagaimana, Mengapa & Berapa…

      โปรแกรม Hotel Consortia: อย่างไร ทําไม และค่าใช้จ่ายเท่าไหร่?

      ตัวจัดการช่องทาง Channel Manager คืออะไร และทำไมผู้ให้บริการที่พักจึงจำเป็นต้องมี?

  • Marketing
    • Smart Hotel Distribution: What Every Hotelier Needs…

      The Ultimate Guide to Turning Negative Reviews…

      6 Social Media Trends Hoteliers Must Leverage…

      ไอเดียโพสต์โซเชียลมีเดียที่กําลังมาแรงสําหรับโรงแรมในปี 2025

      Xu Hướng Nội Dung Mạng Xã Hội…

  • Tips & Trends
    • What Is a Hotel Booking Engine and…

      Seamless Integrations: Enhancing Hotel Operations with Advanced…

      Smart Hotel Distribution: What Every Hotelier Needs…

      Maximizing Hotel Revenue: Advanced Channel Manager Strategies…

      The OTA Balancing Act: How a Channel…

  • News
    • Thoughtful Thursday – Drive More Bookings with…

      Cloudbeds and STAAH partner to enhance channel…

      STAAH Achieves Prestigious Seamless Product Badge from…

      STAAH Product Updates You Can’t Miss –…

      Thoughtful Thursday – Reporting for Properties: Converting…

  • Success Stories
    • Kenyan hospitality group’s smart switch to STAAH

      Bookings rise beyond expectations for boutique UK…

      The Komu Boosts Direct Revenue by 25%…

      Online Revenue Jumps 50% for Mangkuluhur Residences…

      23% more online bookings for Vivatel Kuala…

  • Resources
    • All BLAAH BLAAH @STAAH Connectivity News e-Books Events Podcast Quiz Testimonials Webinars

      Connect with Expedia – Expand Your Reach…

      Alexa+ could earn “top-of-the-funnel” spot in travel…

      STAAH & Hotelbeds: A Powerful Partnership Driving…

      STAAH’s new eBook to guide hoteliers through…

      BLAAH BLAAH @STAAH with Captain Mihir Deepak…

      BLAAH BLAAH @STAAH with Dia Mirza

      BLAAH BLAAH @STAAH with Avijit Arya and…

      BLAAH BLAAH @STAAH with Mauro Risch

      Connect with Expedia – Expand Your Reach…

      Alexa+ could earn “top-of-the-funnel” spot in travel…

      STAAH & Hotelbeds: A Powerful Partnership Driving…

      EMPOWERING CHANNEL PARTNERS: THE POWER OF CONTENT…

      STAAH’s new eBook to guide hoteliers through…

      STAAH ReviewMinder Playbook

      STAAH GDS Playbook

      The Expert Guide to Drive More Direct…

      BLAAH BLAAH @STAAH with Suwamana Wahyu Putra…

      BLAAH BLAAH @STAAH With Matthias Dybing And…

      BLAAH BLAAH @STAAH with Vikramjit Singh and…

      BLAAH BLAAH @STAAH with Suhail Kannampilly and…

      STAAH Weekly Hospitality Quiz: 17 January

      STAAH Weekly Hospitality Quiz: 10 January

      STAAH Weekly Hospitality Quiz: 20 December

      STAAH Weekly Hospitality Quiz: 13 December

      The Domain Hotel and Spa, Bahrain

      Pramana Experience (Indonesia)

      Merusaka Nusa Dua, Bali (Indonesia)

      Acappella Suite Hotel (Malaysia):

      From Search to Stay: Maximize your Visibility…

      STAAH Webinar: From Search to Stay: Maximize…

      STAAH Webinar: Manage Revenue Mastery: How to…

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Hotel budgets: things to keep in mind when budgeting for 2023

30 November 2022
Hotel budgets things to keep in mind when budgeting for 2023 2

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider?


The unprecedented volatility has made the task of budgeting for 2023 daunting. Demand is fluctuating, supply costs are rising, and historical trends are not as reliable. Yet, budgeting is an opportunity to engage different teams across your business, realign goals and work together towards shared financial goals.

Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

Start with data gathering

Hotel budgets things to keep in mind when budgeting for 2023 1Your past data may not be totally reliable, but in the short term, it is still a good indicator of what your guests are seeking and when. Your PMS, channel manager, booking engine, website analytics, etc. are all a gold mine of insights – leverage these.

Post-pandemic, consider external sources such as airlines and OTAs to see where demand is coming from and what you can expect. Make note of local events and become more prudent in understanding your Comp Set data.


Reports Insights

Did you know STAAH Max Channel Manager gives in-depth insights and booking trends? Read more 


Get account-level projections

Since the sales department typically provides a big chunk of room night production, and their booking window skews longer than transient guests (for the most part), nailing down estimates for corporate business (business travelers) and groups is a good place to start your financial plan. The sales team can provide estimates for room night production per account, by month if possible.

Get a handle on daily demand

Once you’ve captured data from the sources above, create a demand calendar. A best practice is to build a calendar in Excel, with each week as a row, and each column as a day of the week. Enter the projected occupancy in each day’s cell.

By getting granular, you can understand rates and revenue potential better.

Opt for dynamic pricing

This approach to pricing rooms relies on algorithms to set room prices based on supply and demand on any given day. Prices are adjusted in real-time so the yield from every room is much higher. The good news is that with a smart platform such as STAAH, the heavy lifting of adjusting prices is done programmatically.

The devil is in the detail

Heard of zero-based budgeting? It starts from scratch and goes category by category to figure out which expenses are essential. Nothing is assumed. By going through this exercise, everyone involved has more visibility into how much each thing costs, which is valuable in case costs need to be cut at some point.

In this day and age of rising inflation, zero-based budgeting can reap great benefits.

Choose alternative offerings that cost less

The little things that add up to deliver a great guest experience also add up as costs on the balance sheet. Look for clever ways to manage these costs with smart alternatives that don’t affect the guest experience.

For instance, ditch the subscription for multiple magazines for digital subscriptions. Or opt for menus that are seasonal and local – you’ll also have a great story to tell when you do this.

Adopt technology to improve the guest experience

Hotel guest experience 2

Budgeting is not just a cost-cutting exercise; it is also an exercise to find opportunities to grow revenue and improve guest experience efficiently. Investing in smart technology is one such smart option – you will be future-proofing your business. Mobile apps, online check-in, and check-outs, keyless entry, smart room technology … these are becoming minimum standards and your annual budget should start making room for these investments.

Upgrade your technology stack

Closely related to the point above is an audit of your current technology stack. Is your foundational software up to scratch to handle the volatility of modern hospitality? Your property management system, revenue management, distribution, online booking system, etc. should all be seamlessly integrated to maximize revenue and guest impact.

Invest in demand generation

Make room in your budget for marketing activity that generates demand. Understand different markets and audiences, see where the opportunity lies for your property, and invest in getting in front of this lucrative segment. Don’t rely on past sources for demand.

Finalise the budget

Preparing a hotel budget is not an easy feat. Once you’ve completed your research and finalised your budget, make sure to share it with various teams for feedback and refinement. Getting the buy-in from your whole team is essential to achieving your financial goals. Also, allow for refinement throughout the year. Revisiting your budget regularly will help you understand current performance and refine your budgeting strategy for future years.


We love to hear from you, feel free to write to us at marketing@staah.com on what topics you would like to read more about

Hotel budgets: things to keep in mind when budgeting for 2023 was last modified: November 28th, 2022 by Nashi Dasgupta

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