Embracing Revenue Management Technologies in 2024: A Guide for Progressive Hoteliers
As we navigate through 2024, the hospitality sector is undergoing a transformative phase, heavily influenced by the integration of cutting-edge technologies and innovative strategies. These changes are pivotal in not only enhancing guest experiences but also in driving revenue maximization. One noteworthy trend is the increasing adoption of revenue management technologies in the hotel industry, a movement gaining momentum in recent years. Why Are Hotels Embracing Revenue Management Technologies? The growing interest in revenue management
Revenue Management System: Not Just for Booms, but for Bumps Too
When a big event is on the horizon, expectations run high. You plan for full occupancy, increase your rates, and prepare your team. But what happens when the bookings don’t come as expected? That’s when a revenue management system becomes more than a nice-to-have. In this article, we’ll explore how a revenue management system (RMS) helps hoteliers navigate that gap between forecast and reality, using real examples from the Eurovision Song Contest 2025 in Basel
Don’t Open Your New Hotel Without a Revenue Management System
Hotel owners, developers, asset managers, and other stakeholders charged with successfully launching a new hotel property—in a marketplace that may already be quite competitive—know they’ll need more than attractive features and amenities that entice and cultivate a loyal customer base. As the industry adapts to a post-pandemic world, the team behind a new property also must assess key behind-the-front-desk requirements - paramount being its approach to revenue management. For those about to launch a new
Revenue Management System (RMS): What Are the Advantages?
A revenue management system is a software solution that allows hospitality brands to carry out various revenue management activities. For instance, the software makes it easier to forecast changes in demand and optimize pricing. Revenue management systems provide hotels and similar businesses with a number of major advantages, including improved accuracy and efficiency. It's important for business leaders to understand these advantages and invest in a high-quality solution that will provide the key benefits. In
Smart Hotel Room; What Are the Benefits for Hotel Owners and Guests
Smart room technology is a key trend for hotel owners to be aware of, and the desire to create a smart hotel is growing for a number of reasons. In this article, you will learn more about a smart room, why smart hotel technology is so important, and how smart hotel rooms can benefit hotel owners and guests alike. Table of Contents: What is a Smart Hotel Room? Why is Smart Room Technology Becoming Important?
Smart Hotel: What Are the Benefits for Hotel Owners and Guests?
One of the most important technological trends within the hotel industry today is the rise of smart hotel technology. This technology can benefit both hotel owners and guests alike, potentially improving financial results as well as the customer experience itself. In this article, you will learn more about a smart hotel, why technology is becoming so important, and the various plus points. Table of Contents: What Is a Smart Hotel? Why Every Hotel Should Become
Let’s Get Digital: Creating a Smart Guest Journey for Your Hotel
Coronavirus threw a lot of well-established routines and best practices overboard without warning. Within only a few months, almost every aspect of hotel operations had to be re-examined and updated in ways nobody would have predicted at the start of 2020. To help you navigate this transition, this article sums up actionable tips on how you can adapt your guest journey to the new reality. New Automation Standards Due to The Corona Pandemic New, strict
5 Hotel Marketing Challenges for Multi-Location Hotels
Emerging economies lead to a growing demand for international tourism, making the travel industry one of the fastest-growing markets. With the number of people with access to greater wealth rising, the market conditions are expected to remain strong. But with markets expanding, so is the competition. In this article, we
5 Marketing Campaigns to Reengage Your Past Guests
Studies show that 64% of loyalty members are business travelers, and these loyal guests contribute a significant portion of hotel revenue, ranging from 30% to 60%. Despite the numbers, many hotels are still focusing only on attracting new guests and creating new bookings, when the truth is that re-engaging past
How Can Hotels Maintain Guest Interest & Keep Engagement High During the Pandemic?
Question for Our Hotel Marketing Expert Panel Keeping well connected with our guests has been particularly challenging during the pandemic. What tips can you share for maintaining guest interest and keeping engagement high? Our Marketing Expert Panel Kaylie Holley - Founder, Up Travel
Luxury Travel Trends and Influences Making an Impact in 2025
Question for Our Hotel Marketing Expert Panel What is the state of luxury travel in 2025? What trends will influence decisions for luxury travel businesses? (Question proposed by Reshan Jayamanne)Â Our Marketing Expert Panel Moriya Rockman - Chief of Marketing, Smiling House Luxury
Lodging Industry Guide: All You Need to Know!
The lodging industry is focused on the provision of temporary overnight accommodation for guests. It includes a wide range of businesses, such as hotels, motels, hostels, inns, campsites and guest houses. The lodging industry is important because it provides guests with a place to stay while traveling. It facilitates both
Five Ways Lodging Businesses can Prepare for 2023
2022 brought unique challenges for lodging businesses as demand strengthened post-pandemic and ‘revenge travel’ soared. As labor shortages reached all-time highs and hotels struggled to fill roles, management was required to face a significant increase in demand with limited resources. The industry responded to these challenges and ended the year