How to Use Your (Guest) Data to Increase Revenue?
The recent years with a turbulent and unpredictable market have made hoteliers used to dramatic change. Guest booking behavior and previously established travel patterns have been replaced by new ones belonging to a hotelier's daily challenges. New travel trends and changing guest behavior are here to stay; they must act upon them. The Importance of Guest Data If you, as a hotelier, manage to monitor, predict, and act on these changes, you can leverage these
How to Use Food and Beverage F&B Data to Increase Hotel Revenue
Food and beverage (F&B) data is considered a gold mine in the hospitality industry. From the moment your guests make an online reservation, to the time they leave your restaurant, your POS system or an advanced reservation platform generates valuable guest data. In this article, you'll learn how to use F&B data to improve guest experience, ultimately increasing hotel revenue. But first, let's look at what exactly F&B data is and why it's vital for
How To Upsell Throughout the Traveler Journey (+5 Best Practices)
Upsells are a simple, straightforward way to drive more revenue, increase engagement, and build customer loyalty. Implementing the right upsell strategy can improve the guest experience and your bottom line. Lodging businesses that leverage the power of upsells can increase guest satisfaction by allowing guests to customize their stay, build customer loyalty through personalized experiences, and mitigate external risks with additional revenue sources. 5 Best Practices To Upsell Throughout the Traveler Journey Below you'll learn
How to Trigger Dopamine to Maximize Your Hotel’s Direct Revenue
If you're a hotelier struggling to improve your website conversion rates, you're not alone. Maximizing hotel revenue through direct bookings is crucial, and a little something known as “dopamine” could be the key. In this article, we'll explore the connection between dopamine and positive online experiences and how personalization can help you create a memorable guest experience that boosts conversion rates and revenue. What Is Dopamine? But before diving in, let’s understand what dopamine is.
Moving Ahead Towards The Light: The Hospitality Industry’s New Trials and Possibilities
There's no doubt that 2022 brought terrific developments for the hospitality industry. Most countries reopened their borders and did away with travel restrictions, and demand matched or even exceeded 2019 levels. However, it's not smooth sailing all around. Our sector faced many ongoing challenges due to the pandemic, and some new issues cropped up, too. What could have been the first "regular" travel year since 2020 is now looking questionable due to the looming recession
Considering a New Hospitality RMS? Watch Out for These 4 Myths
So, you’re thinking about upgrading to a more effective revenue management system (RMS) for your hospitality organization, but you have some doubts. Maybe you’re thinking: It’s too costly to install a different RM Learning a new system will take too much of my staff’s bandwidth My new system will take too long to learn how to price effectively It’s easier to stick with an RMS, I know. It’s “good enough.” However well-founded those concerns are,
Netflix & Hotels: What Can You Apply to Your Hotel’s Marketing Strategy?
Who isn’t familiar with Netflix? With over 222 million subscribers, this streaming platform has become the favorite of thousands of binge-watchers across the globe. You might wonder what hoteliers could learn from such a different company. Probably more than you would expect, hoteliers can replicate so many elements from Netflix’s strategy, but for today, let’s dive into their online user experience and how to apply it to your hotel website. 3 Strategies Your Hotel Can
10 Valuable Tips to Manage Your Hotel Career
Hotel careers can be rewarding, challenging, and varied. Yet, regardless of whether you are seeking an entry-level job to get your foot in the door, or hoping to take the next step up the career ladder, there are certain things you can do to maximize your chances of finding a
Hotel Business Plan: Write a Successful and Effective Hotel Business Strategy Plan
A hotel business plan is essential for anyone starting a new enterprise in the hotel industry. A business plan is a document that identifies your goals, objectives, and success strategies. It will be the foundation for your new operation. In this article, you'll learn how to create a detailed and
Harnessing Hotel Business Intelligence: 5 Key Questions Your Data Should Answer
Embracing data-driven decision-making is vital for hotels looking to thrive in today's competitive environment. From identifying top revenue-generating channels to tracking total revenue per available room (TrevPAR) and managing costs, having access to interconnected data allows hoteliers to make quick, informed decisions that can boost operational efficiency, elevate the guest
Hotel Business: Factors to Consider When Starting a Hotel Business
Starting a hotel business is an exciting prospect. You'll be entering the hotel industry, an economically and socially important sector offering various opportunities at all skill levels. Before you jump in, though, some essential factors must be considered. In this article, you'll learn everything you need to know as you
Hotel Budget Plan: Practical Budgeting Tips for Hoteliers
A hotel budget plan is a projection of financial earnings and expenditures over a defined period of time, allowing your hotel to understand its financial status and determine how much money is available for planned or unplanned projects. In this article, you will be able to learn more about what
Hotel Budget: Effective Budgeting Tips for Hoteliers
Establishing a hotel budget involves estimating revenue and expenditure over a defined period and establishing rules about how much money is available based on various factors, including changes in customer demand. In this article, you can access some effective budgeting tips for your hotel. Table of Contents: What Is the