Tips for Calculating Demand and Price for Events without Historical Data
Question for Our Revenue Management Expert Panel: How do you calculate demand and room price for unique events that are new to your area (e.g., major concerts, Olympic Games, World Cup, etc.) without having historical data to refer to? (Question by Massimiliano Terzulli)Â Our Revenue Management Expert Panel Massimiliano Terzulli - Revenue Management Consultant, Franco Grasso Revenue Team Pablo Torres - Director Of Sales and Marketing, Alannia Resorts
4 Steps to Going from Reactive to Proactive Hotel Operations; Save Time & Money
Quick question: are your hotel operations reactive or preventive? If the answer is reactive, you are losing time and money. And if you say preventive, our great tips will help you be even more efficient. In both cases, keep reading. Introducing technology may feel cold and unwelcoming, but remember that hotel tech is not about less hospitality but better hospitality. When you free your staff from tedious tasks and unnecessary paperwork, their time and energy
3 Steps to Reaching and Converting Your Hotel’s Target Audience
A high occupancy rate is every hotelier's dream. And to reach that high occupancy rate, hotels are heavily reliant on a good strategy. In the past, you may have devised a seemingly perfect marketing strategy to attract as many bookings as possible. However, you may have also been disappointed that you weren't getting the desired results. Don't fall into the trap of thinking you must invest more in your marketing or improve the on-premise experience.
Cliches About Revenue Management, Guests’ Quality, and Brand Reputation
What do hoteliers resist about revenue management? One common pushback is lowering prices below a certain psychological threshold. Yet, it's essential during low demand and pays off later. Some hoteliers believe: "I cannot sell below a certain figure because otherwise low-quality guests will arrive and lower the hotel's image; I prefer to stay empty and not sell." Yet, those who practice revenue management know it's the opposite. During low season, you can sell your rooms
How Has Artificial Intelligence Impacted Revenue Management Roles and Systems So Far?
Question for Our Revenue Management Expert Panel: Some roles are shrinking due to Artificial Intelligence. How have revenue management roles and systems been affected to date? (Question by Oleksii Kapichin) Our Revenue Management Expert Panel Niko Krauseneck - Founder, RevenueRebel Tamie Matthews - Sales & Marketing Consultant, RevenYou Nikolas Hall - Owner, N. Hall Consulting Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Heiko Rieder - Senior Vice President Commercial & Distribution, Step Partners Europe GmbHs Diego Fernández Pérez De Ponga - CEO at Port Hotels Damiano Zennaro - Founder, DZ
Is Conversational AI a Good Fit for Guest Communications?
The power of Artificial Intelligence (AI) has been making waves in the hospitality industry. Considering rapid developments in AI-based hotel tech solutions, rising expectations of tech-savvy travelers, and challenges the industry faces, let’s explore the fit of conversational AI in guest communications, as well as its role and benefits. Beyond the Hype: Sophistication of Conversational AI Before exploring the answer to the titular question from guests’ and hotels’ perspectives, let’s take a closer look at
Robots in the Travel Industry: 8 Real-World Examples
One of the most exciting technological developments within the travel industry in recent years has been the increased prevalence of robots, with examples ranging from text-based chatbots and front desk robotic assistants to security robots and robotic travel cases. This article takes a closer look at how robots transform tourism, providing eight real-world examples of their use and examining some pros and cons. Understanding Robots Although most of us have a concept of a robot,
Interview with President and Co-founder Dr. Ravi Mehrotra of IDeaS
In this interview, we speak with Dr. Ravi Mehrotra, the president and co-founder of IDeaS. As the son of an electrical engineer and avid chess player, he became interested in technology and how it can be applied to modeling real-world scenarios to help improve decision-making ability. With his
Facing Automation Fears: A Perspective for Hoteliers
For some, advancements in automation bring a profound sense of dread. Worrying about the big-picture societal challenges that may come with the widespread adoption of new, advanced generative AI tools is understandable. But instead of fretting about whatever dystopian worst-case scenario automation may bring, it's time to take a step
How AI Can Make a Difference to Hotels Today
At first glance, AI and hospitality might not seem like the most natural fit. What makes hospitality unique is its human touch – the provision of experiences that are unique and special to the individual traveler. But AI doesn’t stop that. In fact, it can enhance it. Personalizing Stays and