How To Run A Hotel Business Successfully: Tips & Strategies for Success
To run a hotel business successfully, you need to consider various factors, conduct effective research, and make detailed plans. In this article, you'll discover the most crucial steps, from creating a business plan to staffing and operating your hotel. You'll find out what strategies make a hotel successful and how you can put them to work for your business. Table of Contents: What Is the Hotel Industry? What Does It Mean to Be an Owner
What is Revenue Management?
What is revenue management and why does it matter so much to hospitality brands? Essentially, it's a data-driven approach to anticipating demand and adjusting pricing and distribution, in order to maximize earnings. Revenue management is crucial for hotels and similar businesses, because they have fixed costs to contend with. When hotels are able to accurately forecast demand, they can take steps to ensure these fixed costs are always covered. In this article, you'll learn what
How to Write a Hotel Welcome Card for Guests + 5 Free Examples
A hotel welcome card is a personalized note, left on a card for guests to read upon arrival. It is similar to a welcome letter, but will typically be shorter, including only the most essential information. Learning to write a hotel welcome card is important because these messages set the tone and provide details that enhance a guest's stay. Leaving a card is a small touch that can make a big difference to how guests
Hotel Marketing; The Latest Trends in the Hotel Industry in 2024
Hotel marketing is key in helping you attract bookings and optimize revenue. For the most part, your marketing messages are how customers will become aware of your hotel and also how they will understand your values and unique selling proposition. Of course, to optimize your marketing, you need to be aware of the latest hotel marketing trends for 2024. In this article, you can learn about the more general trends within hotel marketing and those that have emerged as a result of the coronavirus. Table of Contents: What is Hotel Marketing? Why is Hotel Marketing Important? 18 Hotel Marketing Trends
The little-known Housekeeping Data That Can Boost Your Hotel Business
Are you measuring housekeeping data? You should. Your guests or the activities drive the housekeeping services it takes to run the property. After all, a room must be cleaned because someone slept in it. So, to understand your property's operations, how costs are created, and how to improve, you need to dive deeper into the catalysts triggering your services. And here's where the housekeeping data comes in. So, let's talk about how housekeeping performance data
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
POS Apps: How to Choose the Right One?
A good POS app can be invaluable for hospitality employees because it can streamline processes, enhance the customer experience, and improve your company’s ability to track key performance indicators. However, following a sensible process for finding the right app is crucial. In this article, you will learn more about how
How Can Hoteliers Adjust Their Revenue Strategy Due to COVID Restrictions?
Question for Our Revenue Management Expert Panel: Amid changing travel guidelines and restrictions, flexibility has become essential for travellers. How are you addressing this? How has your revenue management strategy adapted to meet those needs? Our Revenue Management Expert Panel Pablo Torres -
How Can Hotels Maintain Guest Interest & Keep Engagement High During the Pandemic?
Question for Our Hotel Marketing Expert Panel Keeping well connected with our guests has been particularly challenging during the pandemic. What tips can you share for maintaining guest interest and keeping engagement high? Our Marketing Expert Panel Kaylie Holley - Founder, Up Travel