Upselling’s Role in Hotel Net Operating Income (NOI) Growth
The hotel business is unique in many ways, as exemplified by the unique KPIs we use, from revenue per available room (RevPAR), to average daily rate (ADR), occupancy, and everything in between. We can thank the advent of yield and revenue management that came to our industry in the 1980s for much of these metrics. But another metric that more hoteliers are talking about recently is NOI (Net Operating Income). Owners and asset managers are
6 Hotel Mistakes That Destroy Your Guest Experience
The guest experience continues to be one of the main concerns for hoteliers. How do you improve it when the guests’ expectations are constantly changing? In this article, you’ll find six tips to avoid common mistakes that can destroy your guest experience. Guest Needs Are Constantly Evolving The times when all that cared was the location and good service are long gone. Today’s guests are more complicated, and they aim for much more than that.
4 Important Hotel Metrics to Measure Your Guest Experience
Most hotels tend to ignore that data is essential for their business or think that data gathering and reporting is reserved for big multinational hotel chains like Accor or Marriott. Yet, the contrary is true: vital hotel metrics can benefit each hotel. In this article, you will find why having accurate metrics in your hotel could boost your revenue and success. Hotel Metrics Essential for Each Hotel The most common scenario would be to find
Metaverse and the Hotel Industry; The No. 1 Information Guide!
The concept of the metaverse hotel has been discussed a lot recently, and for a good reason, as the technology to make the metaverse a reality becomes more widespread and accessible. In this article, you can discover more about the metaverse and the various ways hotels can benefit from it in the future. Table of Contents: What is the Metaverse? How Can Businesses Use the Metaverse? What is the Difference Between Metaverse and Virtual Reality?
How To Maintain Your Hotel Grounds For Curb Appeal
For any hotel, regardless of size or reputation, the appearance of your grounds will certainly make for a first impression - good or bad. Your curb appeal as a business should be taken seriously, and like any property, it’s the first thing that your customers will see, and that may leave a positive or negative first impression. If it’s a negative, it could end up hindering the experience of the customer as a whole, despite
5 Ways to Invest Surplus Marketing Funds Before Year End
As the fiscal year ends, it’s not uncommon for hotel teams to discover unallocated funds in their marketing budget. Since the golden rule of budgeting is “use it or lose it,” here are five quick, effective ways to make an impact with surplus dollars before the end of the year. Sometimes it’s a strategic safety net. Sometimes it’s dumb luck. When hotel teams reach the end of the fiscal year and find they have unspent
4 New Technologies To Help Increase F&B Revenue
In modern hotels, generating income goes beyond room rates and prime locations. While these factors are undoubtedly important, a realm of untapped potential can significantly boost profitability: food and drinks revenue, also known as F&B. 4 New Technologies to Increase F&B Revenue By focusing on this dynamic aspect, hotels can maximize their earnings, even without expanding their capacity or hosting numerous events. Effective revenue management is crucial for the hotel industry to thrive in this
What is the Amadeus Global Distribution System?
A global distribution system is one of the most important distribution channels for hotel owners and others in the travel industry. Amadeus GDS is one of the most important examples. In this article, you will learn more about the Amadeus GDS system and how it can benefit those in the
All-Inclusive Resorts: Successful & Effective Marketing Strategies
All-inclusive resorts can appeal to guests through convenience and value for money, but using the right marketing strategies is essential. In this article, you can learn about all-inclusive resorts, learn about the different customer groups to focus on, and explore the most effective marketing strategies to deploy. Table of Contents:
Alexa for Hospitality; Voice Control Speakers for Hotels
Voice-controlled smart hubs and speakers, such as Amazon Echo, have become extremely popular as home technology products in recent years. However, their uses do not stop there and are increasingly used to deliver a superior customer experience in various industries. One of the most significant examples of this is within
Airline Revenue Management: What is It, How Does it Work & Examples
Given the volatility of demand and the high fixed costs involved in operating commercial flights, it's no surprise that the airline industry has always been at the forefront of revenue management. Commercial airlines were some of the first companies to analyze consumer behavior and tailor their prices to the information.
Airbnb Pricing Strategies: Ultimate Guide for Revenue Management
Airbnb pricing strategies are the different approaches used to determine the rates Airbnb properties charge guests. There are a variety of different methods available and many hosts will use a combination of approaches. Adopting the right pricing strategy in the right moment is important for maximizing the amount of revenue
Airbnb Owner Login: SEO Tips to Optimize Your Airbnb Listing
Airbnb owner login credentials allow you to list a property on the Airbnb platform. Once you have your Airbnb host account, you can create a listing and manage it by adding pricing, photos, and availability information. Your Airbnb owner login is important because it allows you to optimize your property