What Revenue Management Trends and Strategies will we see in 2023?
Question for Our Revenue Management Expert Panel: What are your predictions for the revenue management trends and strategies we can expect to see in 2023? Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head Family Dermot Herlihy - Owner, Dynamic Hospitality Consulting Ricardo Sereno - Revenue Manager, Altis Hotels Pablo Torres - Director Of Sales and Marketing, Alannia Resorts Dr. Betsy Stringam-Bender -
Hotel Management Companies: Top 8 Biggest Hotel Management Companies
Hotel management companies are a huge component of the hotel industry. These companies operate hotels for hotel owners. They range from small organizations that operate one or two establishments to large global businesses managing hotels all over the world. In this article, you'll learn everything you need to know about the eight most significant hotel management companies in today's industry. Table of Contents: What Is the Hotel Industry? What Is a Hotel Management Company? Benefits
Moving Ahead Towards The Light: The Hospitality Industry’s New Trials and Possibilities
There's no doubt that 2022 brought terrific developments for the hospitality industry. Most countries reopened their borders and did away with travel restrictions, and demand matched or even exceeded 2019 levels. However, it's not smooth sailing all around. Our sector faced many ongoing challenges due to the pandemic, and some new issues cropped up, too. What could have been the first "regular" travel year since 2020 is now looking questionable due to the looming recession
How To Upsell Throughout the Traveler Journey (+5 Best Practices)
Upsells are a simple, straightforward way to drive more revenue, increase engagement, and build customer loyalty. Implementing the right upsell strategy can improve the guest experience and your bottom line. Lodging businesses that leverage the power of upsells can increase guest satisfaction by allowing guests to customize their stay, build customer loyalty through personalized experiences, and mitigate external risks with additional revenue sources. 5 Best Practices To Upsell Throughout the Traveler Journey Below you'll learn
Revenue Strategy for Resorts and All-Inclusives: Exploring the Challenges and Opportunities
Wouldn’t it be nice if effective revenue management for resorts and all-inclusive properties were as relaxing as the guest experiences they offer? While commercial success at these complex properties will likely never be akin to sipping mojitos poolside (one can dream, though), today’s advanced revenue management technology can simplify and streamline the elements needed to make it happen. Key Challenges for Resort Revenue Management Before getting into the weeds of how this is accomplished, it can help to first take a step back, survey the landscape, and better understand the unique challenges and opportunities resorts face on the path to
Harnessing Hotel Business Intelligence: 5 Key Questions Your Data Should Answer
Embracing data-driven decision-making is vital for hotels looking to thrive in today's competitive environment. From identifying top revenue-generating channels to tracking total revenue per available room (TrevPAR) and managing costs, having access to interconnected data allows hoteliers to make quick, informed decisions that can boost operational efficiency, elevate the guest experience, and drive revenue growth. Unlocking Hotel Success with Data-Driven Business Intelligence Hotel business intelligence (BI) is key in this data-centric approach. By collecting and
How AI is Advancing Digital Marketing Strategies for Hotels
AI is infiltrating every aspect of life and business. With so much buzz around AI, it can be hard to identify where to most effectively use the technology and where to start implementing it in your hotel. Leveraging AI for Personalized Hotel Marketing and Revenue Growth AI has the ability to process vast amounts of data - and from a marketing perspective, it can be used to power and facilitate personalized digital and real-world experiences,
Mastering Ancillary Revenue: Key Lessons and Strategies
A revenue management strategy is a common practice among hotels. What’s less common is having an ancillary revenue strategy, though. Nevertheless, it’s beneficial for hotels to have one. It’s one of the first steps to unlocking a new, powerful revenue stream and improving the hotel’s positioning and branding while enhancing
Embracing Hybrid Hospitality: A Blueprint for Boosting Hotel Revenue
In the ever-evolving landscape of the hospitality industry, it can feel hard to stay ahead of the curve – or even in the middle of it. However, changing habits, attitudes, and trends sends a clear message: the status quo is no longer sufficient to meet the complex needs of modern
STR Trend Report: How the Industry Adapts to Changing Market Dynamics
An STR Trend Report is a useful tool for understanding market dynamics within the hotel industry. In this article, you will learn more about what a STR Trend Report is, how it works, why it is so popular within the industry, and how it can be used to understand and