How do Hotel Review Scores impact Pricing Strategies?
Question for Our Revenue Management Expert Panel: Great hotel reviews have a powerful influence on guests when deciding to book. How does a hotel’s review score impact its pricing strategy? (Question proposed by Massimiliano Terzulli) Our Revenue Management Expert Panel Theresa Prins - Founder, Revenue Resolutions Sandra Gannon - Commercial Consultant, Revenue Puzzle Nikhil Roy - Revenue & Pricing Manager, Key Hospitality B.V. Krunal Shah - Cluster Director
The Limits of Rules-Based Revenue Management Technology
There are automated revenue management decision-making systems, and then there are revenue management support tools that rely on a rules-based approach to setting and changing prices. While perhaps an efficient method for some proficient users, rules-based technology requires consistent manual intervention and will undoubtedly struggle as market conditions shift and staffing changeover occurs. Keep reading to understand the limitations of a rules-based system and the undeniable benefits of full RMS automation. Greater Automation Equals Greater
Pricing Your Rooms in 2022 – Getting The Best Results in Times of Uncertainty
Cast your minds back to midnight on new years eve. You probably weren’t thinking about your room pricing. But if you had been, would you have felt confident about how demand will play out this year? How much would you bet on being right? If you are in charge of setting prices for a hotel, then a lot of money can depend on not getting it wrong. Usually, given the data from previous years, you
What Digital Marketing Tools Will be Essential for Hotels in 2022?
Question for Our Hotel Marketing Expert Panel What digital marketing tools (e.g., software, platforms, etc.) will be essential for hotels in 2022? Our Marketing Expert Panel Adele Gutman - Culture and Guest Experience Expert, Hospitality Reputation Marketing Podcast Luminata Mardale - Director Of Marketing And Business Development, Vienna House Thomas Dieben - Founder, Becurious Tim Kolman - Commercial Strategy Expert, three&six Jolien Alferink - Hotel Marketing Consultant, Orange
Revenue Management is About Much More Than Pricing
When hoteliers, hotel owners, or management seek the help of a revenue management consultant or outsourcing company, they often mention something like, "We've casually practiced revenue management in the past." As the consulting engagement kicks off, these hospitality professionals will say they understand the discipline even though they lack a structured approach. Yet, revenue management is all about structure. Pricing is Just a Fraction of the Revenue Management Approach As the revenue management consultant digs deeper into what they mean by "randomly practicing the discipline," the answers bring to light misunderstandings. For example, hoteliers often link revenue management with price
Meetings and Events Online Booking and Marketing Optimization Tips
Question for Our Hotel Marketing Expert Panel How can hotels optimize the online booking process for Meetings and Events? And how can they best market it? Our Marketing Expert Panel Peter Ricci - Clinical Associate Professor and Director, Florida Atlantic University Cory Falter - Partner and Visionary at Lure Agency Thom de Graaf - Online Marketing Specialist, The Orange Studio Luminita Mardale - Director Of Marketing And Business
7 Tips to Attract More Corporate Travelers to Your Hotel
Corporate travelers are a growing demographic and a target audience that many within the hotel industry are placing an increased emphasis on trying to appeal to. After all, a corporate traveler may use extra hotel facilities, return to your hotel multiple times and recommend it to colleagues and business partners. In this article, you will learn about corporate travel and find seven tips for attracting more corporate travelers to your hotel. Table of Contents: What
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
Hotel Conferences: Biggest Organizations & Reasons For Hoteliers to Attend
Hotel conferences are a great way to stay up-to-date with the latest trends, develop valuable relationships, and showcase your hotel's offerings. In this article, you will learn about hotel conferences, deepen your understanding of why they are beneficial, and explore some of the biggest organizations hosting these events. Table of
How to Drive Conversions on Your Website and Internet Booking Engine
It’s no secret that the hospitality industry is among the most competitive ecosystems in the global business landscape. Guests consider countless factors when deciding where to stay during their travels. In this article, you’ll learn how these user experience aspects differ and strategies for making the most of both. Understanding the