How Does Your 2021 Hotel Performance Affect Your 2022 Forecast?
As a hotelier, you know Occupancy and Revpar (revenue per available room) data are fundamental to your bottom line. Such data helps you interpret and compare the profitability of your property from year to year. As a revenue manager, you can make educated predictions. This article will review the benchmarks of the past two years and will use 2019 data to project possible scenarios in 2022. Introduction For context, this data comes from a representative
Metaverse and the Hospitality Industry; The No. 1 Information Guide!
The idea of the metaverse - a network of digital spaces where social interactions can occur, facilitated by virtual and augmented reality - has gained traction as technology has improved. However, the social aspect of the metaverse is not the only aspect to focus on, and there are several exciting metaverse hospitality opportunities to be aware of too. This post lets you learn more about the metaverse and these various opportunities. Table of Contents: What
What are the Top Hotel Benchmarking Tips and Strategies for 2022?
Question for Our Hotel Marketing Expert Panel As a hotelier, or an advisor to hoteliers, how and what do you currently benchmark? How do you benchmark your hotel competition? What changes are you planning to make in your 2022 benchmarking strategy? (Question proposed by Andrew Kavanagh) Our Marketing Expert Panel Susanne Williams - Performance and Revenue Director, Journey Hospitality Alessandro Inversini - Associate Professor of Marketing and
How Can Hotels Reach Their Ancillary Revenue Management Potential?
Question for Our Revenue Management Expert Panel: The importance of Ancillary Revenue Management is growing. What ARM strategies can be used to increase room revenue / revenue per guest? (Question proposed by Pablo Torres) Our Revenue Management Expert Panel Theresa Prins - Founder, Revenue Resolutions Nikhil Roy - Revenue & Pricing Manager, Key Hospitality B.V. Daniel Feitosa - Revenue Management Specialist Chaya Kowal - Director of Revenue Management,
Save Time with These Event Management Tips
Time is money, especially in event management, where every minute counts. Operational efficiency can be the difference between a smoothly run event and one filled with chaos and missed opportunities. In an industry that demands precision and quick responses, having the right tools to save time is invaluable. By optimizing your operations with advanced event management software, you can streamline your processes, reduce manual tasks, and boost productivity. This article will delve into the key features of event management software that can help you save time so your events run seamlessly from start to finish. Business-Rule Configurations One of the
Revenue Management Consulting; Benefits of Hiring a Consultant
It is becoming increasingly common for hotel owners and others in the hospitality industry to acquire revenue management consulting services to optimize prices, distribution, and occupancy rates and maximize financial results. These services will often be acquired from a revenue management consulting firm. In this article, you will learn about the benefits of enlisting a revenue management consultant for your hotel. Table of Contents: What Is a Consultant? What Are the Benefits of Hiring a
5 Essential Video Marketing Tips for Hotels
Videos are an undeniably powerful marketing tool, especially for the hotel and travel industry. After all, they can capture the attention of the audience much quicker than text and have the power to generate extremely high traffic to your website. No wonder video marketing has taken the Internet by storm. This effective tool is so versatile that you can use it to promote your hotel’s services and build customer rapport. Table of Contents: What is
What is the Role of Human Judgement in Revenue Management Decisions?
Question for Our Revenue Management Expert Panel: With so much technology available, how does human judgement factor into making revenue management decisions? Should the RMS ever be overruled by human judgement? (Question by Fabian Bartnick) Our Revenue Management Expert Panel Fabian Bartnick -
Unlocking the Power of Personalization in Hotel Marketing
Personalization is all around us. You can completely print your cat’s face on M&M’s and customize name-brand sneakers. Your smart speaker recognizes your voice, and your streaming services offer recommendations based on the genres and artists you love.  In this article, you’ll learn how to deepen your engagement, increase conversion
10 Hotel Restaurant Management Tips to Impress Guests and Increase Efficiency
When you’re from the outside looking in, running a hotel restaurant appears to be very similar to running a separate food-service business. Besides, both companies are restaurants that specialize in food and hospitality. But, the truth is, hotel and restaurant management, on the other hand, is an art form in