How Hotels Can Tackle Inflation and Boost Profitability
After a strong end to 2022 - with European hotel performance reaching 2019 levels - January 2023 saw energy costs peak in many countries. Coupled with a fall in demand, the increased expenses of hotel operations led to a fall in. Although there is evidence of recovery into Spring/Summer, hoteliers must be alert to ensure that 2023 is profitable. The Impact of Inflation The hospitality industry relies on demand - first for generating bookings and
5 Digital Strategies to Attract Remote Workers to Your Hotel
As companies worldwide shift their standards to allow for more remote roles and hybrid working models, the concept of the ideal workplace has become much more subjective. With this increased flexible work environment, people are embracing the digital nomad lifestyle. This offers the ability to log in from anywhere in the world, whether in cafes, co-working spaces, and, most importantly: hotels. Catering to Remote Work While the remote workers may not stay overnight, they may
Accommodation Service Providers: Successful Tips for More Revenue
Accommodation service providers include everything from hotels and hostels to bed and breakfast accommodations, motels, and serviced apartments. In this article, you can access relevant tips for all accommodation service providers to generate more customer revenue. Table of Contents: What is Accommodation Service? Accommodation Service Types Tips & Strategies to Increase Revenue for Accommodation Service Providers Clear and Logical Branding Efforts Consistent Revenue Management Strategy Ensure the Necessary Hotel Software is Installed Stay Up-To-Date with
4 New Technologies To Help Increase F&B Revenue
In modern hotels, generating income goes beyond room rates and prime locations. While these factors are undoubtedly important, a realm of untapped potential can significantly boost profitability: food and drinks revenue, also known as F&B. 4 New Technologies to Increase F&B Revenue By focusing on this dynamic aspect, hotels can maximize their earnings, even without expanding their capacity or hosting numerous events. Effective revenue management is crucial for the hotel industry to thrive in this
Hospitality Management: The Essentials About Hospitality
Hospitality management has various objectives and functions that differ from one business to the next. However, its primary goal remains the same; to provide customers the best service and a flawless experience from start to finish. If you are interested in a career in hospitality management, you will learn all about this industry and how to get started in this article. Table of Contents: What is Hospitality Management? What is the Difference Between Hotel and Hospitality Management? Why Hospitality Management Is Important? What Qualifications Do You Need for Hospitality Management? What Are the Main Responsibilities of a Hospitality Manager? Guest
Boosting Occupancy: 7 Options for Hoteliers
"Heads in beds." While occupancy is not the only thing influencing the revenue success of a hotel, it's hard to say you're maximizing revenue if your occupancy levels are low. 7 Ways to Effectively Boost the Occupancy Today, guests typically have a wealth of options for determining precisely in which beds their heads will be resting. Hotel room supply is abundant in many locales. While app-based rental units are facing some headwinds, they remain a
5 Hospitality Marketing Trends for 2025 to Watch (Other Than AI)
The hospitality industry continues a transformative shift in 2025. Gone are the days when a robust digital presence and competitive pricing alone could ensure success. Today's guests seek more than just a place to stay, they want experiences that enhance their lives, support their wellbeing, and align with their values. Beyond AI: Key Hospitality Trends Driving Growth Yes, generative artificial intelligence (AI) is revolutionizing almost every aspect of the hospitality industry, but the use of
What does GOPPAR stand for?
A key performance indicator, or KPI, is a quantifiable business performance measurement. KPIs are essential for implementing a successful revenue management strategy, as it allows businesses to identify areas of success and failure, as well as trends related to demand and customer behavior. GOPPAR is one of the most important
Hotel Distribution Channel Manager: What Are the Advantages?
For those in the hospitality industry, a key part of any revenue management strategy revolves around distribution channel management. After all, while direct bookings are usually preferable, maximizing bookings and revenue requires assistance from third-party distribution agents. In this article, you will find extensive information regarding distribution channel management in
9 Forecasting Tips to Improve Your Revenue Management Strategy
Forecasting is an important part of any revenue management strategy because it allows hotel managers to make vital pricing, promotion, and distribution decisions based on anticipated demand and performance. In this article, we look at useful forecasting tips to help you improve your revenue management strategy. Table of Contents: What