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
Mastering Ancillary Revenue: Key Lessons and Strategies
A revenue management strategy is a common practice among hotels. What’s less common is having an ancillary revenue strategy, though. Nevertheless, it’s beneficial for hotels to have one. It’s one of the first steps to unlocking a new, powerful revenue stream and improving the hotel’s positioning and branding while enhancing the guest experience. Here’s a closer look at the other attractive benefits and how to implement this strategy. What Is Hotel Ancillary Revenue, and Why
Embracing Hybrid Hospitality: A Blueprint for Boosting Hotel Revenue
In the ever-evolving landscape of the hospitality industry, it can feel hard to stay ahead of the curve – or even in the middle of it. However, changing habits, attitudes, and trends send a clear message: the status quo is no longer sufficient to meet the complex needs of modern guests. The solution? Embrace a flexible tech stack and adopt innovative revenue models. Enter hybrid hospitality – a game-changing concept that's redefining spaces, mindsets, and
Broadened Horizons: 3 Ways Revenue Management Tools Can Influence Commercial Success
If you think of revenue management tools as solely a means for rolling out dynamic pricing strategies and making the most out of the demand for your property’s room inventory, it’s time to challenge that assumption. While these tried-and-true capabilities are a staple at most hotels, today’s advanced revenue management systems are making great strides in breaking down the barriers between sales, revenue management, and marketing - and all to the benefit of hoteliers’ bottom line. Unlocking Hidden Value with Revenue Management Tools Advances in technology, system connectivity, and more have helped pave the way for capabilities that expand beyond
Spa Software: How to Choose the Best Software for Your Spa?
Spa software is used within spas, beauty salons and similar businesses to manage day-to-day operations. The software typically allows you to manage bookings and finances, create employee schedules, and oversee inventory information. The importance of spa software lies in its ability to help staff manage important information. This includes data related to customer bookings and information relevant to spa employees. In this article, you can learn more about spa management software and why it is
How Can Hotels Integrate F&B Outlets into Marketing to Enhance The Guest Experience?
Question for Our Hotel Marketing Expert PanelHow can hotels incorporate their F&B outlets into their greater hotel marketing strategy? And how can they leverage the additional touchpoints in the customer experience?(Question by Stephanie Smith) Our Marketing Expert Panel Thom de Graaf - Online Marketing Specialist, The Orange Studio Luminita Mardale - Director Of Marketing And Business Development, Vienna House Nicole Sideris - Founder & Principal Consultant, X Hospitality Michael
Master Pick-up Analytics: Learn Why & How They Elevate Your Hotel
Pick-up analytics are essential for hotels to forecast demand, optimize pricing strategies, manage inventory, marketing, and improve revenue management. In this article, we will dive into the world of Pick-up Analytics. You will learn what Pick-up Analytics is and how to use it to help your hotel optimize performance. What
How to Measure The Profitability of Your Hotel Business
Profitability is a business's ability to generate earnings from its operations over a given period. Various methods, known as profitability ratios, gauge a business's overall profitability. This article explains the different profitability ratios and explains how revenue management can positively impact profitability. Insight in Profitability Ratios Profitability ratios provide insight
6 Tips to Fix Your Hotel’s Email Marketing and Increase Conversions
When exploring the landscape of digital marketing for hotels, we see many new emerging trends, such as AI, Automation, social media, influencer marketing, and more. Many may wonder, "Is email marketing still relevant for hotels?" And the answer is an assured yes. Why Email Marketing for Your Property? Even with