4 Ways Hotels can Leverage AI & Big Data to Boost Direct Sales
AI and big data unlock opportunities for hotels to boost their direct revenue and operational efficiency while offering instant, personalized guest experiences. This article will focus on four ways hotels can leverage AI and Big Data to engage customers in the hotel direct booking process and drive their direct sales. 1) Deliver Instant Service With Conversational AI Conversational AI, a form of artificial intelligence such as AI chatbots, improves the quality of hotel customer service
The Five Boxes Your New Revenue Management (RMS) Should Check
Today things are different. There's a greater variety of more intuitive RMSs that are easy to use for your team and can be set up faster than legacy systems. Thanks to this development, finding an RMS doesn't have to be hard anymore. In the following article, you'll discover how to find the RMS that will help you do just that. Then, nothing will stand between you and optimized revenue, more efficient processes and higher profits.
What Hotel Revenue Management Innovations & Trends Can We Expect in 2022?
Question for Our Revenue Management Expert Panel: What are the top innovations and trends in hotel revenue management that we can expect to see in 2022? Our Revenue Management Expert Panel Nikhil Roy - Revenue & Pricing Manager, Key Hospitality B.V. Paulo Aragao - Revenue Management Professional Sandra Gannon - Commercial Consultant, Revenue Puzzle Daniel Feitosa - University Teacher Revenue Management, Faculdade Roberto Miranda   Chaya Kowal -
Hostel Management Systems: Everything You Need to Know
Hostel management systems are software solutions used within hostels to carry out key managerial tasks and oversee operations. In this article, you can learn about these systems, how they work, why they are so useful, their main features, and how much they cost. Table of Contents: Why Do Hostels Need Hostel Management Systems? What Are the Main Functions of Hostel Management Systems? Reservations & Inventory Management Channel Management Operations Management What Are Some of the
Broadened Horizons: 3 Ways Revenue Management Tools Can Influence Commercial Success
If you think of revenue management tools as solely a means for rolling out dynamic pricing strategies and making the most out of the demand for your property’s room inventory, it’s time to challenge that assumption. While these tried-and-true capabilities are a staple at most hotels, today’s advanced revenue management systems are making great strides in breaking down the barriers between sales, revenue management, and marketing - and all to the benefit of hoteliers’ bottom line. Unlocking Hidden Value with Revenue Management Tools Advances in technology, system connectivity, and more have helped pave the way for capabilities that expand beyond
What Is RevPAR?
Revenue per available room, or RevPAR as it is usually shortened, is a KPI used within the hotel industry to assess financial and business performance. As a metric, it concerns both room revenue and occupancy rate, which makes it an important indicator of a hotel's overall performance and a valuable component of a revenue management strategy. What Does RevPAR Stand for? Essentially, RevPAR measures a hotel's average daily rate and its ability to fill rooms.
Is it Realistic to Focus on Profitability over Revenue?
Question for Our Revenue Management Expert Panel: Is it realistic to focus on profitability over revenue? How should revenue management teams manage stakeholder expectations? Where might challenges arise? (Question by Diego Fernandez Perez De Ponga) Our Revenue Management Expert Panel Diego Fernández Pérez De Ponga - Director of Revenue Management, Palladium Hotel Group Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Massimiliano Terzulli - Revenue
Top Tips for Attracting Talent in Revenue Management Recruitment
Question for Our Revenue Management Expert Panel: Attracting talent in the hospitality industry remains a challenging task. What are your top tips for successful recruitment in revenue management teams? What approaches do you find the most useful? Our Revenue Management Expert Panel
ChatGPT Hotel Guide: Learn How Hotels Can Benefit from ChatGPT!
ChatGPT is an emerging technology disrupting many industries, including hotels and similar businesses. The various ChatGPT hotel applications can not only make life easier for hoteliers and their employees, but also for hotel customers too. Here, you can learn much more about ChatGPT hotel technology and how it can benefit
Top Marketing Tips to Improve Guest Loyalty in Hospitality
Question for Our Hotel Marketing Expert Panel Increasing repeat business for a hotel / accommodation venue is hugely important – but how do we achieve that? How can we build guest loyalty for our properties and brands? (Question by Max Starkov) Our Marketing