Top 3 Hotel Rate Parity Issues and How to Fix Them
Are you a hotelier struggling to maintain rate parity in today's ever-changing hospitality industry? If so, you're not alone. Despite the challenges of the last few years, rate parity remains a significant issue for hotels, and it's only getting more complicated. Top 3 Hotel Rate Parity Issues As a result of the pandemic, many hotels focused on generating short-term business and revenue, often at the expense of rate parity. However, maintaining consistency across distribution channels
Mastering Ancillary Revenue: Key Lessons and Strategies
A revenue management strategy is a common practice among hotels. What’s less common is having an ancillary revenue strategy, though. Nevertheless, it’s beneficial for hotels to have one. It’s one of the first steps to unlocking a new, powerful revenue stream and improving the hotel’s positioning and branding while enhancing the guest experience. Here’s a closer look at the other attractive benefits and how to implement this strategy. What Is Hotel Ancillary Revenue, and Why
Embracing Hybrid Hospitality: A Blueprint for Boosting Hotel Revenue
In the ever-evolving landscape of the hospitality industry, it can feel hard to stay ahead of the curve – or even in the middle of it. However, changing habits, attitudes, and trends send a clear message: the status quo is no longer sufficient to meet the complex needs of modern guests. The solution? Embrace a flexible tech stack and adopt innovative revenue models. Enter hybrid hospitality – a game-changing concept that's redefining spaces, mindsets, and
STR Trend Report: How the Industry Adapts to Changing Market Dynamics
An STR Trend Report is a useful tool for understanding market dynamics within the hotel industry. In this article, you will learn more about what a STR Trend Report is, how it works, why it is so popular within the industry, and how it can be used to understand and adapt to changing market conditions and realities. Table of Contents: The Hotel Industry: An Overview What is an STR Trend Report? Why Does an STR
Guests Expectations in 2025: A Complete Guide on How to Engage Travelers
As time passes and technology keeps evolving, we enter into a new era of guest expectations. As we've said before, it's no longer enough to meet their needs simply, the challenge now lies in exceeding them. What they wanted three years ago is not the same as what they want today or what they will want tomorrow. This leaves no other option but to adapt. Today, the burning question on every hotelier's mind is: What do guests expect in 2025, and how can we engage them effectively? How Can the Hospitality Industry Meet and Exceed Guest Expectations in 2025? Today's
Why Microservice Hotel PMS Architecture is the Future
Client-server architecture has long powered hospitality IT but limits scalability and agility. Microservice-based PMS offers a solution enabling rapid innovation and flexibility, essential for today’s evolving hotel tech needs. In this article, you will explore the microservice hotel PMS architecture world and why it is the future of hotel tech architecture. From Traditional PMS Architecture to Leading-Edge Microservice Architecture Over the last few decades in hospitality technology, Client-Server architecture has been the IT standard across
5 Reasons Your Hotel Needs a Multi-Channel Communication Strategy
Understanding guests’ communication preferences and engaging on their terms is the key to elevating your hotel’s upselling strategy. From email and SMS to front desk conversations, learn how a multi-channel approach and data-driven technology can improve guest satisfaction, increase revenue, and create memorable experiences that set your hotel apart. Engage Guests on Their Terms: The Key to Effective Upselling A guest walks through your hotel’s doors, tired after a long flight and ready to unwind.
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
Unlocking Insights and Revenue Potential with Room-Type Analytics
In a hotel, understanding the dynamics of room types and leveraging this understanding can significantly impact revenue, profit, and guest satisfaction. Room-type analytics is a vital component of any hospitality Business Intelligence platform and offers hotels a deeper insight into their inventory’s performance. Data-driven decisions based on Room-Type Analytics enhance
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