The Hard Truth About Revenue Management Right Now (+5 Do’s and Don’ts)
Let’s be blunt. COVID-19 is a global disaster, and this pandemic has brought the hotel industry to its knees—full stop. But the time has come to rise from the ashes and show the world what you are made of. You are innovative, agile, and your hotel fulfills the most amazing experiences for guests around the globe. In this article, you can find tips to be smart and strategic with your hotel’s revenue. Don’t Forget About
Practical Tips to Increase Hotel Sales When Demand is Low
In a low-demand context, hotels must focus on maximizing their conversion rate. A proactive sales strategy augmented by Artificial Intelligence (AI) proves instrumental in navigating these difficult times. Practical Ideas to Increase Direct Conversion Rates In these low-demand times, every reservation counts. Just making hotel direct booking easy from a technical perspective is not enough. To increase conversion, you must convince hesitant customers and ensure no potential customer leaves your website without booking. This article
Upselling Tips & Examples to Improve Your Hotel Marketing Strategy
Upselling has been on hoteliers’ minds for many years. Traditionally the revenue manager would devise the underlying strategy and leave it to the front desk team to carry it out. But the deeper you dive into the world of digital upselling, the more you’ll see that it can add value to nearly every area of your hotel. In this article, Marketing manager Marlon Roosblad and his team from the QO Amsterdam hotel provide you with
Space Tourist: Who Was the First Tourist in Space?
The recent rise of companies like SpaceX, Virgin Galactic, and Blue Origin has opened up the realistic prospect of becoming a space tourist. However, the very first space tourist visited space back in 2001. Here, you can learn more about space tourism and the story of the world's first space tourist. Table of Contents: Space Travel: The History in a Nutshell An Introduction to Space Tourism Who Was the First Space Tourist? Video: The World's
Key Considerations for Choosing the Right RMS During Budget Season
As budget season approaches, selecting the right Revenue Management System (RMS) is one of the most critical decisions a hotelier can make. Whether you manage an independent hotel, an urban property, or oversee multiple hotels, a well-suited RMS can optimize pricing strategies, enhance profitability, and simplify your operational processes. The key to making the right choice lies in aligning your hotel's specific needs with the RMS's capabilities. Here are some essential factors to consider alongside the unique requirements of different types of hotels. Key Factors to Consider When Evaluating an RMS Below, you will find four factors to consider when
Harnessing the Power of Generative AI in Guest Communications
The industry’s adoption of Artificial Intelligence (AI) keeps pushing the boundaries of personalization and efficiency of guest communications. The emergence of generative AI models, like ChatGPT, is yet another revolution in that area. While it enhances the already existing benefits of platforms and tools powered by conversational AI, it also poses some challenges hoteliers need to consider before deciding on implementing this innovation in their communications. The Evolving Role of AI in the Hospitality Industry
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
Revenue Management System: The Ultimate Accelerator for Your Hospitality Business
Whether you're balancing a full plate of work priorities, searching for ways to maximize your revenue, or looking to gain better control over the fluctuating demands of the hospitality industry, a revenue management system (RMS) offers a comprehensive solution. Revenue Management is a Rapidly Growing & Changing Field More than
Top RMS Reports Every Hotel Revenue Manager Needs to Know
Revenue managers have no shortage of data at their fingertips. To visualize that data in an understandable and actionable way, here are some top RMS reports that every revenue manager should be familiar with. RMS Reports Every Hotel Revenue Manager Needs to Know Below you'll find top revenue management reports
Top Tips for Success in Content and Influencer Marketing Campaigns
Question for Our Hotel Marketing Expert Panel What advice can you offer to anyone considering a Content Marketing and/or Influencer Marketing campaign this year? (Question proposed by Sarah Dandashy) Our Marketing Expert Panel Sarah Dandashy - Travel & Hospitality Expert, Ask a Concierge