What is Galileo Global Distribution System?
For those in the travel industry, including hotel owners, a global distribution system (or GDS system) is one of the major distribution channels, connecting their inventories with travel agents, who can sell products on their behalf. In this article, you will learn more about Galileo GDS, one example of such a system. What is a GDS System? A global distribution system (GDS) serves as a network for allowing service providers in the travel industry to
4 Use Cases of Facial Recognition in The Hospitality Industry
Facial recognition has become mainstream in recent years, thanks to systems like Apple Face ID and Facebook DeepFace. In addition, the technology is also being used within hospitality for everything from seamless airport and hotel check-ins to delivering more personalized customer service. In this article, you will learn more about how facial recognition is being implemented and the ways it is shaking up the hospitality industry. Table of Contents: What is Facial Recognition Technology? Facial
What Is an Average Daily Rate (ADR)?
Average daily rate (ADR) is a KPI commonly used for revenue management within the hotel industry. As a metric, ADR's primary value is its ability to reveal the average rental income connected to occupied rooms each day, which is valuable for revenue management. It can give hotel owners an idea of their current operating performance, especially compared to other hotels with similar characteristics. What Is ADR? A hotel's average daily rate (ADR) is the average
Hotel KPIs explained: ADR, REVPAR and GOPPAR
Revenue management is a data-driven approach to predicting customer behavior, to optimize product pricing and availability to maximize revenue. It is especially useful in the hotel industry, because hotels have limited rooms available and experience varying demand levels. Several key performance indicators, or KPIs, should be tracked when carrying out a revenue management strategy. KPIs are quantifiable measures that allow a business to assess and compare performance over time. In this article, we look at
Meeting the Moment: Capitalizing on Emerging Hospitality & Travel Trends
The year ahead is sure to be shaped by a host of macro- and micro-trends in hospitality and travel. Hoteliers across the globe are grappling with generational change, rising expectations for personalized experiences, and how to maximize revenues when faced with a mixed bag of market conditions. So what can you do to make the most of these shifts? We’ve highlighted a few ways commercial leaders and hoteliers can tap into these trends. Broadening Revenue Horizons Beyond the Room For many properties, the prospects for room revenue growth in 2025 may be limited. Paired with rising operational costs eating into
Open Pricing: Why Is It the Next Hotel Revenue Management Strategy
Open pricing is an increasingly important strategy for increasing hotel revenue. It allows hotels to target various customers across different budgets, maximizing revenue and raising occupation levels all year round. With open pricing, rates, and services can be pitched optimally to ensure maximum uptake without compromising quality. In this article, you'll learn how this pricing strategy can work for you. Table of Contents: What is the Open Pricing Model in Hotel Revenue Management? Best-Available-Rate (BAR)
Cruise Industry: All You Need to Know About Cruises!
The cruise industry provides unique experiences for customers, blending elements of transportation, hospitality, and entertainment. However, within the cruise industry, there are a variety of cruise line classifications and a number of different cruise types. In this article, you will be able to find out everything you need to know about cruises. Table of Contents: What is the Cruise Industry? What is a Cruise Line? 6 Biggest Companies Within the Cruise Industry Carnival Corporation &
Automation in Hotel Revenue Management: Yes, or No?
At the Asian American Hotel Owners Association’s annual event, Tyler Morse, chairman and CEO of MCR Development, recently shared a quote to inspire hoteliers to take revenue maximisation into their own hands: “Increase your rates; do it with confidence. … Stop wasting money … Buy smart technology… This is a
Learn How to Maximize Your Premium Hotel Room Revenue
Do you put your Premium Rooms on a pedestal? A more nuanced approach will yield more revenue. Suites are a peculiar thing within the hotel industry. They are, after all, just hotel rooms for rent. But some hoteliers are very attached to what their premium represents–the hotel's very best. In
Staffing Considerations for a Revenue Team
There is a recognized need for a proactive revenue strategy and technology investment for many hotels. However, once the new technologies are integrated, there remains an open question: who’s going to keep this operation running smoothly and profitably as opening day approaches and beyond? Factors to Help You Identify the