Cliches About Revenue Management, Guests’ Quality, and Brand Reputation
What do hoteliers resist about revenue management? One common pushback is lowering prices below a certain psychological threshold. Yet, it's essential during low demand and pays off later. Some hoteliers believe: "I cannot sell below a certain figure because otherwise low-quality guests will arrive and lower the hotel's image; I prefer to stay empty and not sell." Yet, those who practice revenue management know it's the opposite. During low season, you can sell your rooms
Which Matters Most for Winning Guests – Price or Loyalty?
Regardless of who you are, competition in the hospitality industry is increasingly fierce, and winning new customers is a major challenge even for experienced hoteliers. So, what makes the most significant difference in getting guests to stay at your hotel versus the one down the street? Is it price? Is it the chance to benefit from a personalized loyalty program? The answer—perhaps somewhat unsurprisingly—is neither, or rather, both. It Isn't About Focusing Heavily on Either
Hotel Restaurant Management: Tips to Maximize Revenue for Your Hotel
Hotel restaurant management presents some unique challenges. As well as providing food, your hotel's restaurant is an intrinsic part of a guest's experience. An excellent restaurant can help make staying at your hotel memorable. If your hotel restaurant is open to the general public, it can also be an important additional revenue source. In this article, you'll discover valuable tips for maximizing hotel restaurant revenue. Table of Contents: What Is the Hotel Industry? What Is
ChatGPT Hospitality Guide: How ChatGPT Can Help the Hospitality Industry
ChatGPT hospitality applications are set to skyrocket in the near future. The sophisticated AI chatbot has found its way into various applications thanks to its ability to process questions and provide answers in natural language, similar to human communication. In this article, you'll learn more about ChatGPT and its utility in the hospitality industry. Table of Contents: What Is the Hospitality Industry? What Is ChatGPT? Is ChatGPT Free to Use? Can ChatGPT Be Useful to
Mastering the Art of Multi-Property Management
This article explores the nuances of managing multiple hotel properties. It emphasizes the importance of creating a unified guest experience, utilizing advanced technology to enhance operational efficiency, and incorporating local cultures into service delivery. You find three topics that discuss increasing guest loyalty, optimizing revenue, and maintaining competitiveness in the hospitality industry. Introduction to the Dynamics of Managing Multiple Properties In the hospitality realm, managing multiple properties is more than just expanding venue numbers—it's a commitment to elevating the overall guest experience. Central to this approach is the development of a comprehensive guest profile system. This system ensures that 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
15 Key Technology Trends Emerging in the Travel Industry in 2024
Technology is crucial to the tourism and travel industry, helping businesses with day-to-day operations while improving the customer experience. For this reason, hotels, airlines, restaurants, and other companies must keep up with the latest technology trends within the travel industry. In this article, you can learn more about the new travel tech trends of 2024. Table of Contents: What is Travel Technology? Why Should You Keep Up With the Latest Tourism & Travel Technology Trends?
Tour Companies: 9 Benefits of Partnering for Hoteliers
Partnering with tour companies can have many advantages for hotel owners. It can increase occupancy rates, help connect you and your guests with local attractions, streamline hotel operations, and take the pressure off your busy marketing team. In this article, you'll discover the top eight benefits of partnering with tour
What Practices Make a Hotel Booking Process Effective?
Question for Our Hotel Marketing Expert Panel What Practices Make a Hotel Booking Process Effective? (Question by Thomas Dieben) Our Marketing Expert Panel Thomas Dieben - Founder, Becurious Tamie Matthews - Revenue, Sales & Marketing Consultant, RevenYou Jacopo Focaroli - CEO & Founder,
Onboarding for Different Revenue Management Team Levels
Question for Our Revenue Management Expert Panel: How Does the Onboarding Process of Revenue Management Teams Differ According to Level? Which Topics Should Be Emphasized for Each Level? (Question by Daniel Feitosa) Our Revenue Management Expert Panel Heiko Rieder - Vice President Business