Check Out Hotel Processes: Tips to Optimize Guest Check Outs
A check out hotel process is the procedure a hotel requires guests to go through when departing at the end of their stay. This is typically the stage where the customer settles the bill and returns their room key. The hotel check-out process is important because customers want a smooth, swift exit. It is a final chance for your hotel to impress guests and can even be the difference in whether or not you earn
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 landscape of the hotel industry, offering practical examples from hotels that are leading the way. 5 Hotel Revenue Trends for 2024 Hoteliers Should Be Aware
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 profitability and guest experience. This article dives into Room-Type Analytics, its benefits, implementation strategies, and how hotels can leverage this tool for success. What is
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
AI Agents Are Now Booking Hotel Rooms – Is Your Property Ready?
AI is moving fast. Really fast. Every day seems to bring a new breakthrough: an image generator that goes viral, a smarter chatbot, a more powerful time-saving tool. Some innovations will fizzle out or quickly be supplanted. Others will fundamentally change how we live and work. And one of the latest to watch for revenue managers? OpenAI’s Operator. Operator has the potential to change how guests book hotels. It’s a new kind of AI agent – one that doesn’t just search the web but actually acts on it. It can browse, click, scroll and book rooms, all on its own. So,
The Insights & Misconceptions of Social Selling in Hospitality
Question for Our Hotel Marketing Expert Panel What is the impact of social selling in hospitality? What are the best practices for success? Are there any misconceptions about it and if so, why? (Question proposed by Cory Falter)Â Our Marketing Expert Panel Cory Falter - Partner, Lure Agency Moriya Rockman - Chief of Marketing, Smiling House Luxury Global Max Starkov - Adjunct Professor Hospitality Technology, New York University
The Basics of Revenue Management Explained!
Revenue management is concerned with optimizing financial results and is especially popular in industries like hospitality, which must contend with high fixed costs and a perishable inventory. For example, hotels have a certain number of rooms and fixed costs, which must be met regardless of how many rooms are sold. In such industries, revenue management predicts demand and optimizes inventory and price availability. When utilized correctly, this will ultimately result in higher revenue. Table of
Can Metrics from Other Industries Bring Value to Hospitality?
Question for Our Revenue Management Expert Panel: Is there value to be had in introducing metrics from other industries into hospitality? Do you think they have a place in Hotel Revenue Management? (Question by Pablo Torres)Â Our Revenue Management Expert Panel Pablo Torres
Integrating Sustainability Practices into Hotel Marketing Strategies
Question for Our Hotel Marketing Expert Panel How can sustainability practices be integrated into hotel marketing strategies to appeal to the growing eco-conscious consumer base? What are the common challenges? (Question by Michael J. Goldrich)Â Our Marketing Expert Panel Michael J. Goldrich -
From Scrolling to Booking: How Social Media is Reshaping the Modern Traveler’s Journey
In an era where digital connectivity defines our daily lives, the hospitality industry continues to evolve at the intersection of tradition and innovation. The influence of social media on travel planning and hotel booking has only intensified in recent years, fundamentally altering the traveler's journey. This shift has reshaped the