How can Hotels Overcome Challenges around Rate Parity?
Question for Our Revenue Management Expert Panel: Rate parity continues to pose challenges for hotel revenue managers. What are the top recommendations to resolve rate parity issues? (Question proposed by Tamie Matthews) Our Revenue Management Expert Panel Pablo Torres - Hotel Consultant, TSA Solutions Nikolas Hall - Owner, H. Hall Consulting Krunal Shah - Cluster Director of Revenue, Dorsett Hospitality International Fabian Bartnick - Founder, Infinito Tanya Hadwick
Hospitality Definition; Clear Explanation of the Concept of Hospitality
Creating a comprehensive hospitality definition is important because the sector is broad and diverse, including many different types of businesses and organizations. This article provides a clear and detailed explanation of what hospitality is, what the word itself means, and how it is applied in the modern world. Table of Contents: What is the Definition of Hospitality as a Concept? What Is the Definition of the Hospitality Industry? What Is the History of the Hospitality
Pricing Personalization & the Future of Hospitality
Pricing personalization allows hotels to move towards total profit optimization by combining the power of the guest profiles in your CRM with revenue management forecasting to deliver the right price to the right guest at the right time during the guest journey. Guests Have Increased Expectations for Personalization Personalization is an evolving topic within the hospitality industry, from technology and guest perspectives. Over the last few years, especially with the influx of online shopping, guests
7 eCommerce Tips for Hotels to Increase Conversion
Your hotel's online presence is more important than ever—and this doesn't just mean having a website. It also includes your eCommerce setup. Your website is often the first touchpoint that any interested guest would view to learn more about your hotel. Regardless of what, when or who your online visitors are, you must ensure that your website is constantly performing at its best and consider your ultimate goal: to turn online browsers into active customers.
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
Hotel Operations Guide: Learn How to Run Your Hotel Successfully
When guests assess a hotel's quality, they will largely be judging the effectiveness of hotel operations. However, these operations are made up of several interlinked departments, which must deliver on their own offering while collaborating with other departments to provide a seamless guest experience. In this hotel operations guide, you can learn more about hotel operations and how to run a successful hotel. Table of Contents: What is the Hotel Industry? What Are Hotel Operations?
5 Reasons Why Implementing RMS in High Season Makes Absolute Sense
Check-in lines, a full luggage store, and you running around, juggling hotel admin work, staff, customer service, marketing, and prices. Welcome to the high season. Amidst this chaos, implementing a new technology solution like a Revenue Management System (RMS) might be the last thing on your to-do list. However, here are five reasons why doing so during this time could be your best strategic move. 5 Reasons for RMS Implementation in High Season Below, you'll
Hotel Door Locks: The Main Lock System Types and Their Benefits
Hotel door locks are one of the most important considerations when providing security for a hotel and keeping guests safe. There are many different locking systems to choose from and your decision needs to factor in the benefits and drawbacks. On top of this, you also need to have an
Hotel Asset Management: Definition, Importance, and Practices
Hotel asset management can help to maximize revenue, minimize costs, and improve your hotel's brand. By taking a big-picture view of your hotel business and conducting detailed analyses of your hotel's aspects, hotel asset management can take your hotel from strength to strength. Read on to discover what hotel asset
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.