Top 3 Hotel Rate Parity Issues and How to Fix Them
Are you a hotelier struggling to maintain rate parity in today's ever-changing hospitality industry? If so, you're not alone. Despite the challenges of the last few years, rate parity remains a significant issue for hotels, and it's only getting more complicated. Top 3 Hotel Rate Parity Issues As a result of the pandemic, many hotels focused on generating short-term business and revenue, often at the expense of rate parity. However, maintaining consistency across distribution channels
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 the guest experience. Here’s a closer look at the other attractive benefits and how to implement this strategy. What Is Hotel Ancillary Revenue, and Why
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 send a clear message: the status quo is no longer sufficient to meet the complex needs of modern guests. The solution? Embrace a flexible tech stack and adopt innovative revenue models. Enter hybrid hospitality – a game-changing concept that's redefining spaces, mindsets, and
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 adapt to changing market conditions and realities. Table of Contents: The Hotel Industry: An Overview What is an STR Trend Report? Why Does an STR
Can Metrics from Other Industries Bring Value to Hospitality?
Question for Our Revenue Management Expert Panel: Is there value to be had in introducing metrics from other industries into hospitality? Do you think they have a place in Hotel Revenue Management? (Question by Pablo Torres)Â Our Revenue Management Expert Panel Pablo Torres - Hotel Consultant Dr. Betsy Stringam-Bender - Professor of Hotels & Resorts, New Mexico State University Alenka Litherland-McMahon - Managing Director, Hotel Revenue Services Limited Niko Krauseneck - Founder, RevenueRebel Tamie Matthews - Sales & Marketing Consultant, RevenYou Nikolas Hall - Owner, N. Hall Consulting Heiko Rieder - Senior Vice
Early Check-in Hotels: Optimize the Guest Experience & Hotel Revenue
Early check-in hotels are properties that allow guests to check in before the conventional time of between 2:00pm and 4:00pm. This may mean offering earlier check-ins, offering 24/7 check-ins, or offering self-check-ins. Providing options for early check-ins can be especially important for hotels receiving lots of international guests, as many flights land early in the morning. Early check-ins can optimize the guest experience and boost revenue. In this article, you will learn about the benefits
What are the Best Marketing Strategies for Hotels on a Budget?
Question for Our Hotel Marketing Expert Panel For hotels with a smaller budget, what marketing strategies carry the biggest impact? What could move the needle the furthest, but with the lowest amount of investment? (Question by Cory Falter) Our Marketing Expert Panel Thom de Graaf - Online Marketing Specialist, The Orange Studio Luminita Mardale - Director Of Marketing And Business Development, Vienna House Max Starkov - Adjunct
4 Ways Facial Recognition Can Be Used in the Travel Industry
Until recently, facial recognition technology was a concept most commonly associated with science fiction. However, the technology has now advanced to the point where it is mainstream, compatible with smartphones, and used by social media sites. The travel industry is another area where facial recognition is being introduced more frequently.
How Can Voice Control Benefit the Travel Industry?
Voice control is one of the most exciting technology trends that has emerged in recent years. Thanks to home hubs and smartphones, it has become a part of many consumers' everyday lives. For tourism companies, it is important to respond to this, embrace new approaches, and capitalize on the technology's
How Blockchain Technology is Transforming the Travel Industry
Over recent years, blockchain technology has generated significant excitement within many industries and fields. This is largely because it has the potential to dramatically change how information or data is stored and used, enhancing transparency and security while also improving transactions. Here, we take a more detailed look at the