Question for Our Revenue Management Expert Panel: How will hotel revenue management be affected by the introduction of the new “TripAdvisor Plus” from TripAdvisor? Our Revenue Management Expert Panel Paulo Aragao - Revenue Management Professional Patrick Wimble - Managing Director, Lightbulb Consulting Theresa Prins - Founder, Revenue Resolutions Pablo Torres - Hotel Consultant,
Hotel owners, developers, asset managers, and other stakeholders charged with successfully launching a new hotel property—in a marketplace that may already be quite competitive—know they’ll need more than attractive features and amenities that entice and cultivate a loyal customer base. As the industry adapts to a post-pandemic world, the team behind a new property also must assess key behind-the-front-desk requirements
The global pandemic has sped up a trend in revenue operations (RevOps) throughout the business world. Forrester recently published a study that found that many companies are moving towards more centralized RevOps. They’ve understood that revenue is more than an outcome and instead of a result of a business process where commercial teams come together to achieve their goals. Comprehensive
Question for Our Hotel Marketing Expert Panel How can hotel chatbots best contribute to a contactless / low-touch guest experience? Our Marketing Expert Panel Dr. Betsy Stringam-Bender - Professor of Hotels & Resorts, New Mexico State University Tamie Matthews - Revenue, Sales & Marketing Consultant, RevenYou Andrew Kavanagh - Group Sales and Marketing
The hotel industry employs many unique key performance indicators. ADR (average daily rate), RevPAR (revenue per available room) and Occ% (occupancy) naturally come to mind. These metrics reflect the unique nature of our business, but their existence also drives our attention and actions. Watching your hotel’s KPIs translates into optimizing key activities to influence those KPIs positively. As the old
TripAdvisor has recently launched a new service called TripAdvisor Plus, which operates on a subscription model, allowing customers to pay an annual membership fee in return for various member-only benefits, such as discounts on hotel rooms and exclusive perks. Additionally, the service now allows direct participation from hotels too. In this article, you will learn more about the service and
Question for Our Revenue Management Expert Panel: With historic data now less relevant as we move into post-pandemic recovery, what forward-looking data is a "must-have" for hotels? Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head Family Paulo Aragao - Revenue Management Professional Theresa Prins - Founder, Revenue
Question for Our Hotel Marketing Expert Panel With many marketing budgets facing cuts, how can hotels drive the best ROI possible? Our Marketing Expert Panel Susanne Williams - Performance and Revenue Director, Journey Hospitality Reshan Jayamanne - Digital Marketing & Sales Strategist, Bnb Optimized Andrew Kavanagh - Group Sales and Marketing Manager, FBD
The revenue management system (RMS) plays a vital role in the modern hotel technology stack, driving greater profitability and efficiency. Still, the demonstrating return on investment (ROI) in a hotel’s revenue management technology investment goes deeper than year-over-year RevPAR uplift measurements. Understand the True Impact of Revenue Technology The additional revenue from properly utilizing revenue management software and strategies directly
Question for Our Revenue Management Expert Panel: What top skills and characteristics should hotels look for when recruiting in Revenue Management leadership? Our Revenue Management Expert Panel Paulo Aragao - Revenue Management Professional Chaya Kowal - Director of Revenue Management, Potato Head Family Patrick Wimble - Managing Director, Lightbulb Consulting Theresa Prins -
All kinds of businesses use upselling to enhance their customer experience and maximize revenue on existing sales. From the McDonald’s server asking, “Do you want fries with that?”, to airlines offering seat upgrades. Upselling provides the opportunity to maximize the value of every customer. Not all upselling efforts are well-received — particularly efforts driven by the sole desire to make
Employers advertise hospitality jobs in various places, ranging from their own website to industry job boards and social media. For this reason, when you are in the process of conducting a job search, you must check multiple different channels. Here, you will find an overview of the main options available. Table of Contents: What is Hospitality? Examples of Hospitality Jobs
Over the past year, many discussions about revenue management have come up. This raised the debate around the relevance and importance of historical data. And, of course, the corona crisis tested revenue professionals’ trust in automated tools like Revenue Management Systems (RMS). The latter brought many hotels great results despite the pandemic. This article describes how revenue managers can make
Question for Our Revenue Management Expert Panel: With rising trends of staycations & workcations, is there a greater appetite amongst guests for upselling (e.g., room upgrades) post-pandemic to maintain physical distancing or to “treat” themselves? Our Revenue Management Expert Panel Patrick Wimble - Managing Director, Lightbulb Consulting Theresa Prins - Founder, Revenue Resolutions
It only stands to reason that the travel industry needs to evolve in line with the technology needs of its customers. Since the corona pandemic, customers have been more careful about touching public devices, creating new needs. One area of interest involves how travelers can now pay for a reservation or other services. Let us look at why physical payments
Pricing of extended-stay hotels and serviced apartments, also known as ‘aparthotels,’ has traditionally been a challenge for revenue managers as rates can vary drastically depending on the length of stay a guest seeks. However, it is vital hotel groups enhance their approach to pricing for this sector given the revenue opportunities it presents, especially as long-stay traveller demand ramps back
No one can be blamed for prioritising the survival of their business in the past year, which was challenging to a degree no one could have expected. As hospitality gears up to welcome guests again, it's clear that some priorities have shifted permanently. However, there are many, like the journey towards environmentally responsible tourism, that will undoubtedly return as matters
Due to the COVID outbreak, the travel industry has been placed under an immense amount of pressure. This is the very same reason why travel and tourism professionals have needed to place a much greater emphasis on the concept of safety. How can such an approach be used with your ongoing marketing campaigns and guest communication? We provide tips on