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 exceeding pre-pandemic RevPar. Hoteliers adopted technology to help fill the labor gaps and learned they could do more with less. Guests became accustomed to using
How do Reputation Scores and Revenue Management Influence each other?
Question for Our Revenue Management Expert Panel: What are the links between hotel reputation scores and revenue management? How do they influence each other? (Question proposed by Pablo Torres)Â Our Revenue Management Expert Panel Pablo Torres - Director Of Sales Marketing, Alannia Resorts Chaya Kowal - Director of Revenue Management, Potato Head Family Dermot Herlihy - Owner, Dynamic Hospitality Consulting Ricardo Sereno - Revenue Manager, Altis Hotels
Top Tips for Leveraging Tiktok to Attract and Engage with Guests
Question for Our Hotel Marketing Expert Panel How can hotels leverage Tiktok (boasting 1.7 billion active users in 2023) to engage with and attract guests? In your opinion, which strategies can they apply, and what are the best practices? Our Marketing Expert Panel Luminita Mardale - Director Of Marketing And Business Development, Vienna House Thom de Graaf - Online Marketing Specialist, Orange Hotel Marketing Moriya Rockman - Chief
6 Lessons from Leading Brands for Elevating Hotel Booking Strategies
While OTAs have dominated the digital travel booking space in recent years, their influence is quietly dwindling as travelers seek more authentic experiences. In parallel, hoteliers now have access to more tools and resources for digital optimization. In fact, hotels of all sizes can significantly boost online bookings by taking a few notes from these eCommerce giants. After all, they’ve invested in research and testing to prove that these best practices work. 6 Lessons from
14 Pricing Strategies to Increase Your Hotel Revenue
Maximizing revenue is a top priority for hotel operators, and achieving this goal often requires the right pricing strategy at the right time. Making room rate adjustments based on demand, customer segmentation, and other factors can be the key to overall business success. In this article, we offer insight into 14 pricing strategies that hotels can adopt in their revenue management strategy to increase the amount of revenue they generate. Table of Contents: What Is
How Successful Hoteliers Handle Pricing Strategies for The Recovery
Analyses showed that hotels with a solid revenue management strategy came out of the Covid-19 crisis better than hotels without. In this article, you’ll learn how successful hoteliers handle pricing strategies during the post-covid era, and how to deal with spillage, spoilage, overbooking, and overselling. Quick menu: Hotels With a Solid RM Strategy Came Out of the Covid-19 Crisis Well OTA Visibility Favors Those Already Visible A Deep Dive into Spillage, Spoilage, Overbooking, Oversell, Denials
Pricing Personalization & the Future of Hospitality
Pricing personalization allows hotels to move towards total profit optimization by combining the power of the guest profiles in your CRM with revenue management forecasting to deliver the right price to the right guest at the right time during the guest journey. Guests Have Increased Expectations for Personalization Personalization is an evolving topic within the hospitality industry, from technology and guest perspectives. Over the last few years, especially with the influx of online shopping, guests
Exploring Hotel Revenue Trends for 2024: Insights & Real-World Examples
The year 2023 has brought about significant changes in the hotel industry, with revenue management practices and trends evolving rapidly. As these trends continue to take shape, their impact will undoubtedly shape strategies and operations well into 2024. This article provides valuable insights into the key factors influencing the financial
7 Hotel Revenue Management Myths Costing You Money
Every day, in conversations with hoteliers like you, we hear the same revenue beliefs pop up. Old habits and assumptions that quietly drain profits, cost bookings, and steal the hours you'd rather spend delighting guests. It's time to change that. In this article, you'll learn seven of the most common
What Hotel Revenue Management Innovations & Trends Can We Expect in 2022?
Question for Our Revenue Management Expert Panel: What are the top innovations and trends in hotel revenue management that we can expect to see in 2022? Our Revenue Management Expert Panel Nikhil Roy - Revenue & Pricing Manager, Key Hospitality B.V. Paulo Aragao
Hotel Revenue Management Courses: Information + List of Educators
Hotel Revenue Management is a crucial part of running a hotel. You can maximize revenue and minimize your outgoings by effectively balancing supply and demand. A Hotel Revenue Management Course can help you understand this important topic. Hotel Revenue Management Courses will give you the tools and strategies you need.
What Is Hotel Revenue Management?
For those operating in the hotel industry, revenue management is a key concept, as it enables hotel owners to predict levels of demand and optimize things like distribution and pricing in order to maximize financial results. In this article, you will learn more about hotel revenue management, why it is
Tips for Hotel Revenue Forecasting in a Constant State of Uncertainty
The global hospitality industry has had its fair share of large-scale disruptions since COVID-19 first struck, and the hotel sector faces an uncharted recovery period ahead. Hoteliers can gain ground by using agile, accurate, and holistic revenue forecasting. Modern Tools for Modern Challenges Are you using outdated technology at your