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 effective business plan for your hotel. Table of Contents: What Is the Hotel Industry? What Is a Hotel Business Plan? Why Is the Hotel Business
Hotel Automation: Benefits, Tools, and Trends
You probably already use hotel automation to some degree. Most hotels use online booking, and most have adopted property management software. However, these are just the tip of the automation iceberg. In this article, you'll discover a range of tools and trends in hotel automation and learn how they can benefit your hotel. Table of Contents: What is Hotel Automation? Benefits of Hotel Automation Ease Communication Between Hotel Departments Take Control Omnichannel Service Cost Reduction
10 Tour Operators Hoteliers Should Partner With
Tour operators make great partners for hotels and resorts. Hotel owners can contract tour companies to sell rooms to the operator's clients. By teaming up with a tour operator, hotels can draw in new guests and provide exciting new experiences for existing ones. In this article, you'll discover some top tour operators and how they can help your hotel thrive. Table of Contents: What Are Tour Operators? What Is an Online Travel Agent (OTA)? 3
Changes in Post-Covid Breakdown of Direct Vs OTA Bookings for Hotels
Question for Our Revenue Management Expert Panel: When reviewing the number of direct website bookings Vs OTA bookings, have you seen any difference in this breakdown post-Covid? Has there been a shift in B2B and B2C? (Question by Ricardo Sereno) Our Revenue Management Expert Panel Sandra Gannon - Commercial Consultant, Revenue Puzzle Krunal Shah - Director of Revenue Management, The Biltmore Mayfair, LXR Hotels & Resorts Silvia
Inbound Tour Operators: Strategic Alliance for Hotel Growth
Inbound tour operators are key players in the international travel and hospitality industry. Tourists use these services to make sure their international trips live up to their dreams. Meanwhile, the hospitality sector ensures the same by working with inbound tour operators, expanding their base into the international sector at the same time. In this article, you'll learn how inbound tour operators function, why they're important, and how to partner with them to form a mutually beneficial business endeavor. Table of Contents: What is an Inbound Tour Operator? Why Inbound Tour Operators are Important for Hotels? How Inbound Tour Operators Work?
3 Essential Tips to Maximize Revenue Hoteliers Can Implement Right Away
It's important to have revenue management strategies in place to maximize revenue. Whether you use a revenue management system (RMS) or manage your prices manually, this article covers three essential strategies, recommended by our revenue management experts, to help you stay competitive. 3 Essential Tips to Maximize Your Hotel Revenue In the next sections, you will learn about three crucial strategies that will help you increase your hotel revenue. Strategy 1: Constantly Analyze Your Pick-up
How to Maximize Hotel Revenue by Applying Open Pricing to Upselling
You probably already know that adjusting your room rates based on demand fluctuations can boost your revenue. But have you ever thought of applying this approach to upselling? And what about taking things yet another step further and using the principles of open pricing on upselling as well? Keep reading to discover how these techniques can take your revenue strategy and top line to the next level. The Role of Upselling in Revenue Management Upselling
How to Build an Effective Commercial Hotel Organization in 2024
A hotel’s commercial team—revenue management, sales, and marketing—is critically important to the financial health of a property. When working harmoniously, these functions combine to ensure a property is filled with high-value guests while minimizing acquisition costs as much as possible. However, “harmonious” is an unlikely descriptor for many hotel commercial
Uncovering the Importance of Pickup and Pace in Revenue Management
As a revenue manager, one of your essential daily inquiries is, "What was yesterday's pickup?" It's a question that sets the tone for your day and helps you make informed decisions about selling the right room, to the right guest, at the right time, at the right price. Setting the
Guest Communications: Gold Standards, Key Challenges, and the AI
Time and effort going into answering guest queries should not be underestimated. How to optimize the process to benefit your guests and your staff? This article explores how hotel tech solutions powered by artificial intelligence (AI) can help you do that. Still, first, it outlines the reasons behind the high