Can Metrics from Other Industries Bring Value to Hospitality?
Question for Our Revenue Management Expert Panel: Is there value to be had in introducing metrics from other industries into hospitality? Do you think they have a place in Hotel Revenue Management? (Question by Pablo Torres)Â Our Revenue Management Expert Panel Pablo Torres - Hotel Consultant Dr. Betsy Stringam-Bender - Professor of Hotels & Resorts, New Mexico State University Alenka Litherland-McMahon - Managing Director, Hotel Revenue Services Limited
Integrating Sustainability Practices into Hotel Marketing Strategies
Question for Our Hotel Marketing Expert Panel How can sustainability practices be integrated into hotel marketing strategies to appeal to the growing eco-conscious consumer base? What are the common challenges? (Question by Michael J. Goldrich)Â Our Marketing Expert Panel Michael J. Goldrich - Founder & Chief Advisor, Vivander Moriya Rockman - Chief of Marketing, Smiling House Luxury Global Luminita Mardale - Director Of Marketing And Business Development, Vienna
From Scrolling to Booking: How Social Media is Reshaping the Modern Traveler’s Journey
In an era where digital connectivity defines our daily lives, the hospitality industry continues to evolve at the intersection of tradition and innovation. The influence of social media on travel planning and hotel booking has only intensified in recent years, fundamentally altering the traveler's journey. This shift has reshaped the booking funnel, making it more dynamic, interactive and influenced by peer experiences than ever before. The Evolving Booking Funnel The traditional, linear booking funnel has
6 Lessons from Leading Brands for Elevating Hotel Booking Strategies
While OTAs have dominated the digital travel booking space in recent years, their influence is quietly dwindling as travelers seek more authentic experiences. In parallel, hoteliers now have access to more tools and resources for digital optimization. In fact, hotels of all sizes can significantly boost online bookings by taking a few notes from these eCommerce giants. After all, they’ve invested in research and testing to prove that these best practices work. 6 Lessons from
Hotel Real-Time Data: The Secret to Smarter Pricing
Hotel demand can flip in an instant. A sudden storm, a sold-out concert, a strike, or a new flight route can reshape booking patterns faster than any static report can keep up. By the time you open yesterday’s numbers, the market has already shifted, and competitors have adjusted. Real-time data closes that gap. It shows what is happening now across pick-up, channels, and rates. In this article, you’ll learn how real-time hotel data and automated RMS pricing help you react faster, save time, and increase RevPAR. Real-Time Insights Are Only Powerful When You Act Fast Relying on outdated data doesn’t
What is Revenue Management?
What is revenue management, and why does it matter so much to hospitality brands? Essentially, it's a data-driven approach to anticipating demand and adjusting pricing and distribution in order to maximize earnings. Revenue management is crucial for hotels and similar businesses because they have fixed costs to contend with. When hotels are able to accurately forecast demand, they can take steps to ensure these fixed costs are always covered. In this article, you'll learn what
A Strategic Guide to Choosing the Perfect Celebration Venue in Any City
The success of any celebration, from an intimate birthday dinner to a large-scale wedding reception, hinges on the choice of venue. The right space sets the mood, accommodates your guests comfortably, and brings your vision to life. But when you're faced with a world of options, especially in a city you're unfamiliar with, how do you make the right choice? This guide provides a clear framework for selecting the ideal venue, no matter where your
Hotel Costs: A Complete Guide to Customer Costs and Fees
Hotel costs, from a customer perspective, are the various fees and charges associated with booking and staying in accommodation. These can include initial booking costs, taxes and additional fees for services. Understanding hotel costs is important for guests and hotel managers alike. Additional fees can significantly alter the total cost
The Five Building Blocks of Hotel Revenue Maximization
Revenue is the lifeblood of any hotel. The more effectively you generate, capture, and optimize it, the more successful your property will be. But too many revenue managers still rely on outdated revenue strategies, legacy metrics and clunky technology that hold them back. The result? Missed opportunities and money left
Profitable Forecasting: How to Boost Hotel Profitability with Revenue Management
Well-run and profitable hotels are like a symphony where talented performers play their parts within the framework of the score. Their skilled cooperation creates the business foundation for the hotel to meet or exceed its business goals. Revenue management principles provide such a framework, with the revenue manager serving as