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
How High and Low Can You Go With Your Hotel Room Pricing?
Behavioural economics is the study of people’s decision-making processes and how they are not always entirely rational. By understanding people’s reactions to the choices available, you are better able to make pricing strategies that maximise your revenue. For example, evidence dictates that ending your prices with the number ‘9’ increases your revenue. If you charge $119, you should see more bookings than if you charge $117 or $120. This is not ‘rational’ as economists would
How to Use Guest Messaging to Increase Your Return on Experience?
Return on Experience (ROX) has been discussed widely and it is being referred to as “the new ROI” (Return on Investment). Compared with ROI, which directly measures the amount of return on a particular investment, ROX measures the soft business results that a great experience can generate. In this article you can learn why ROX is important and how you can use it to benefit you hotel. What is Return on Experience (ROX)? ROX is
10 Travel Agents for Hotels to Gain More Corporate & Leisure Guests
Travel agents represent a major distribution channel for those in the hotel industry, helping them connect with more leisure travelers and corporate guests. To capitalize, hotels need to list their properties with online travel agents and connect with the main global distribution systems so that a travel agent can view real-time inventory information. In this article, you will find out about eight key travel agents to work with. Table of Contents: What Are Travel Agents?
Calculate RevPAR and Maximize Your Hotel’s Revenue
Calculate RevPAR for strategic optimization and success. It's a common mantra within the hospitality sphere. However, your Revenue Per Available Room (RevPAR) involves more than you might think, and every variable impacts your potential profit. RevPAR is a metric that explains your hotel's performance and helps identify areas for optimization and revenue growth. In this article, you'll discover the basics of RevPAR calculations and how to use the results to grow your business toward a successful future. Table of Contents: What is RevPAR? Why is RevPAR Important in the Hotel Industry? How to Calculate RevPAR Effectively Basic RevPAR Formula Application
4 Ways Facial Recognition Can Be Used in the Travel Industry
Until recently, facial recognition technology was a concept most commonly associated with science fiction. However, the technology has now advanced to the point where it is mainstream, compatible with smartphones, and used by social media sites. The travel industry is another area where facial recognition is being introduced more frequently. In this article, you will find out how it is fundamentally helping to transform tourism. Table of Contents: What Is Facial Recognition? Facial Recognition Within
How Can Voice Control Benefit the Travel Industry?
Voice control is one of the most exciting technology trends that has emerged in recent years. Thanks to home hubs and smartphones, it has become a part of many consumers' everyday lives. For tourism companies, it is important to respond to this, embrace new approaches, and capitalize on the technology's potential. Here, you will learn more about voice control and how it can help the travel industry. Table of Contents: What is Voice Control? How
How to Use Food and Beverage F&B Data to Increase Hotel Revenue
Food and beverage (F&B) data is considered a gold mine in the hospitality industry. From the moment your guests make an online reservation, to the time they leave your restaurant, your POS system or an advanced reservation platform generates valuable guest data. In this article, you'll learn how to use
How To Increase Hotel Revenue With Easy Pre-Authorizations
While hoteliers know about credit card pre-authorization, many don't incorporate it into their reservation policies. Or, if they do, they leave it up to OTAs. Either way, ignoring the impact of well-managed pre-authorizations on your hotel's revenue is a mistake. Flexibility for Guests and Guarantees for Hoteliers Pre-authorizations are a
SEO Best Practices for Hotels to Increase Direct Bookings
Travelers' online behavior has changed significantly since the beginning of the pandemic. Today, potential guests are researching and booking travel plans many months in advance and are prioritizing hotel websites with detailed and relevant information that is easily accessible to them. With this return to travel, there is also a