Ten Steps to Successfully Introduce AI to Your Hotel Teams
If you plan to roll out a new smart technology or artificial intelligence tool at your hotel, you need to design a thorough team onboarding process. Getting your hotel staff on board with a new solution is key to successful adoption and operational efficiency, but it can also positively impact employee morale and retention. Many hoteliers miss out on this opportunity by rushing to implement the new technology. This article lists the most important steps
4 Steps to Going from Reactive to Proactive Hotel Operations; Save Time & Money
Quick question: are your hotel operations reactive or preventive? If the answer is reactive, you are losing time and money. And if you say preventive, our great tips will help you be even more efficient. In both cases, keep reading. Introducing technology may feel cold and unwelcoming, but remember that hotel tech is not about less hospitality but better hospitality. When you free your staff from tedious tasks and unnecessary paperwork, their time and energy
3 Steps to Fight Price Disparities on Your Hotel Website
As travel comes back in full force, everyone is trying to claim their slice of the pie. So it’s no wonder you are running into price disparities between your hotel’s rates and those available on OTAs (online travel agencies) and metasearch engines. They’re inevitable, and as a savvy hotelier, you’ve got two options: accept them, or take action. In this article, you'll find actionable tactics you can use to fight price disparities and boost your
How to Use Stay Restrictions in Hotel Revenue Management to Drive More Revenue
Restricting your guests’ ability to book the stay dates they want may not sound like the best idea initially. But depending on your hotel, audience, and market situation, stay controls can be a vital revenue management tool. On top of driving reservations on slower days, they can increase revenue, reduce turnover and drive profitability. Read on below to discover more about using stay controls to improve your property’s results. How Restriction Management Works at Hotels
10 Tips in Building a Business Case for an RMS
When you're trying to get your team on board to purchase a revenue management system (RMS), there are a few key things you'll need to keep in mind. Of course, you already know the benefits of utilizing an RMS. Your company will earn more revenue, become more efficient, free up time, and make better-informed decisions. You're already on board. Now it's time to get the rest of your team on board, too. How do you
Tipping Hotel Housekeeping; What is the Standard?
Tipping hotel housekeeping staff involves leaving a small amount of money for the individual employees who clean your hotel room. It is a great way to show appreciation and can help staff who often have a low base wage. Understanding the standard for tipping housekeeping staff is important because it is an area of anxiety for guests. Many guests want to leave a tip, but fear leaving too little or too much. In this article,
Time To Value: A Key Metric to Help You Identify The Best Tech for Your Hotel
Technology is becoming more and more ingrained into the daily operations of today’s hoteliers, with hotel technology itself evolving in leaps and bounds. As hotel tech platforms and tools become more advanced and marketing-savvy, it becomes increasingly difficult for hoteliers to sift through the noise to find the best tools to meet their specific needs. In this article, you'll learn how the Time to Value metric can help hoteliers to decide which technology or software
The Development of Revenue Management in the Hospitality Industry
In recent years, the hospitality industry has navigated unique challenges. As we forge ahead into 2023 and 2024, the landscape of revenue management within this sector is undergoing transformative changes. These changes, crucial for adapting to new market conditions, enhancing efficiency, and aligning with customer preferences, notably accelerate technological integration.
The Hard Truth About Revenue Management Right Now (+5 Do’s and Don’ts)
Let’s be blunt. COVID-19 is a global disaster, and this pandemic has brought the hotel industry to its knees—full stop. But the time has come to rise from the ashes and show the world what you are made of. You are innovative, agile, and your hotel fulfills the most amazing
Revenue Management Consulting; Benefits of Hiring a Consultant
It is becoming increasingly common for hotel owners and others in the hospitality industry to acquire revenue management consulting services to optimize prices, distribution, and occupancy rates and maximize financial results. These services will often be acquired from a revenue management consulting firm. In this article, you will learn about
How can Revenue Managers Collaborate on Decisions?
Question for Our Revenue Management Expert Panel: Are Revenue Managers overloaded with strategy and result decisions? How can Revenue Managers collaborate and share responsibilities with other teams? (Question proposed by Daniel Feitosa)Â Our Revenue Management Expert Panel Daniel Feitosa - Revenue Management Specialist
Cliches About Revenue Management, Guests’ Quality, and Brand Reputation
What do hoteliers resist about revenue management? One common pushback is lowering prices below a certain psychological threshold. Yet, it's essential during low demand and pays off later. Some hoteliers believe: "I cannot sell below a certain figure because otherwise low-quality guests will arrive and lower the hotel's image; I
Revenue Management Guide: Calculating Costs & Quality Analysis
As a hotelier, you know many factors go into your room rates. Three of those factors are your costs, current demand, and your hotel’s online visibility. Revenue management is the science of assessing these and other factors and raising your profitability year after year. This article offers a guide to