How to Combine Human and AI Collaboration for the Best Hotel Results
The advancement of AI and automation over the past few years has transformed the hospitality industry. New technology enabled gathering and evaluating vast amounts of data, quickly making informed decisions, and lifting the topline. Especially in the revenue management department, new AI-powered solutions offer the real-time market insights hoteliers need to optimize, adjust and even automate their pricing. One concern remains: how to guarantee that the system aligns with your hotel’s business strategy? And what
How to Attract and Convert the Millennial Hotel Booker
A recent study by Boutique Hotelier (1) revealed that 42% of millennials plan to spend more on travel in 2023, presenting a significant opportunity for hotel brands. With this in mind, we've been keeping a close eye on the latest generation of travelers to understand what sets them apart from other guests and how savvy hoteliers can adapt their offerings to suit their needs and encourage more reservations. 4 Tips to Attract and Convert Millennial
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
Choosing the Right Target Market for a Restaurant To Ensure Success
Marketing serves an incredibly important purpose for restaurants because it is the main way to establish brand recognition, attract customers and build a reputation. Nevertheless, marketing needs to be strategic, and selecting the right target market for restaurant advertising and marketing activities is essential. In this article, you can learn about market segmentation and how to pinpoint the right market segment to focus efforts on. Table of Contents: What is the Restaurant Industry? What is
Green is Gold: How Regenerative Tourism is Transforming Marketing Strategy for Hotel Teams
The shift towards regenerative tourism represents a significant opportunity for hotels to differentiate themselves in a crowded market while contributing positively to the greater good. By effectively marketing these initiatives, hotels can attract conscious travelers, enhance their brand reputation, and play an important role in shaping the future of tourism. Rising Demand for Travel That Gives Back: Regenerative Tourism In recent years, the hospitality industry has witnessed a significant shift in consumer preferences and market demands. Travelers are increasingly seeking experiences that not only minimize negative environmental impacts but actively contribute to the well-being of local communities and ecosystems. This
How Blockchain Technology is Transforming the Travel Industry
Over recent years, blockchain technology has generated significant excitement within many industries and fields. This is largely because it has the potential to dramatically change how information or data is stored and used, enhancing transparency and security while also improving transactions. Here, we take a more detailed look at the various ways blockchain is used, or is likely to be used, within the travel industry. Table of Contents: Understanding Blockchain Technology: What Is It? How
5 Ways Big Data Can Benefit the Travel Industry
Within the travel industry, big data is one of the most important concepts to get to grips with, because most other businesses are already utilizing it and reaping the rewards. These rewards include the ability to make more informed decisions, learn about customers and competitors, improve the customer experience, and increase revenue. In this article, you will learn more about big data, and how it can benefit companies in the tourism industry. Table of Contents:
Tips for Choosing a Revenue Management System for Your Hotel
Revenue management systems (RMS) are a new way of working for the vast majority of hotels – in fact, for most, this kind of software was not even an option before. But times are changing. Property management systems (PMS) are becoming more user-friendly, and such systems can help you simplify
Strategies to Optimize Your Holiday Park’s Revenue Next Summer
Was your summer a revenue bonanza, or more of a busy bust? The summer busy season is undoubtedly a critical stretch for holiday park owners. For many, it's the time to bolster your budgets and make up for the slower months. While plenty of work must be done to ensure
Forward-Looking Data to Understand Guest Behavior and Upcoming Trends
Question for Our Revenue Management Expert Panel: What Forward-Looking Data Should Hotels Use to Understand Guest Behavior and Upcoming Trends? Our Revenue Management Expert Panel Nikolas Hall - Principal Owner, N. Hall Consulting Chaya Kowal- Cluster Director Of Revenue Management, Potato Head Family