An Analyze of How Hoteliers Handled Revenue Management During the Pandemic
Using past data to predict future revenue during a pandemic might seem counterintuitive to many hoteliers. After all, hotel revenue management is always a complex science. How can you predict anything during a pandemic? In this article, you’ll learn how fellow hoteliers dealt with the COVID-19 pandemic. Three Different Paths During the Pandemic As a hotelier, you’ve faced an unusual past year, and you’ve had to make difficult choices. As revenue optimization experts, we’ve seen
Restaurant POS Systems: The Latest and Future Trends
Effective use of point-of-sale systems can have a transformational effect on restaurant industry employees. However, it is important to understand the associated trends to get the most from restaurant POS systems. In this article, you can learn about existing and upcoming trends and how they impact restaurants and their customers. Table of Contents: What is a POS System? Restaurant POS Systems and Their Benefits Latest Trends in Restaurant POS Systems Self-Ordering Mobile Point-of-Sale Cashless Restaurants
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.
A Steady Hand: How Revenue Management Solutions Can Help Hoteliers Navigate Economic Uncertainty
It’s a foreboding statement that surely hoteliers are getting at least a little tired of seeing, particularly with the economic shock of COVID-19 firmly in our rear-view mirrors. While it’ll take time for the dust to settle, an aggressive and often-shifting trade policy from the world’s largest economy has undoubtedly injected a substantial amount of uncertainty into the plans of hotels across the globe. 5 Revenue Management Tech-Driven Tips for Taming Uncertainty Before you start stocking up on antacids, let’s focus on the good news. Hotels that have invested in advanced revenue management technologies have an excellent resource at their
Interview with Founder and CEO Kristian Valk of Hotelchamp
In this article, we interview Kristian Valk, the founder and CEO of Hotelchamp. Through Hotelchamp, Valk has combined multiple science-based methods to improve the guest experience and drive increased direct revenue for hoteliers. Can you tell us a bit about yourself? I was born and raised in the Netherlands, near Amsterdam. I'm the proud father of two kids, a boy and a girl. Sports are a real passion
What Is an Occupancy Rate?
Occupancy rate is a KPI used by those within the hotel industry to assess a hotel's performance. As a metric, it is concerned with the percentage of a hotel occupied, and can be used alongside other KPIs, such as ADR (average daily rate) and RevPAR (revenue per available room), as part of a revenue management strategy. Table of Contents: What Does the Occupancy Rate Stand for? What Influences the Hotel Occupancy Rate? How to Calculate
Should Hospitality Marketing be Managed In-House or Outsourced?
Question for Our Hotel Marketing Expert Panel Should hospitality marketing be managed in-house or outsourced to an external agency? With many hospitality brands operating with smaller teams, what marketing activities could be outsourced easily? Our Marketing Expert Panel Dustin Caromano - Director of
Hotel Podcasts; 17 Excellent Podcasts for Hotel Managers & Executives
Hotel podcasts are growing in popularity all the time, because they offer a great way for listeners to keep up with the latest news, trends and innovations within the industry, or learn about a specific area, such as hotel design. In this post, you will be able to learn more
Travel Careers: Tips to Find a Career in the Travel Industry
Many people seek out travel careers, because they offer a combination of interesting day-to-day challenges, variety, and long-term progression. However, finding and securing your ideal job will require you to take certain steps to stand out from other candidates. This article offers nine practical tips to assist you with this.