Steps for Success: Evaluating and Pricing Group Business
Group business is an undeniably important piece of the revenue puzzle for hotels. However, not all group revenue is equally valuable or desirable. To achieve an ideal mix of group and transient business, hotels must undergo a detailed evaluation process—one that can be greatly aided with an advanced revenue management system. Ten Crucial Steps to Evaluating and Pricing Group Business In this article, you’ll find key steps and considerations for evaluating group business opportunities. 1.
A Guide to Marketing Hotel Sustainability
Today’s travelers aren’t just better-educated and better-informed, they’re more concerned than ever about adopting responsible practices around their journeys. The upshot is that these savvy travelers actively seek experiences and accommodations that align with their values — especially concerning environmental and sustainability practices. Reasons Behind the Popularity of Sustainable Travel There are compelling reasons behind this trend. First, heightened awareness of climate change and its global consequences has prompted individual adventurers to make more responsible
Hotel Financial Statements: Essential Documents for Effective Hospitality Management
Hotel financial statements are vital documents that provide an overview of financial data, including revenue, expenses, profit and loss. The documents also break down financial data based on the different departments. For hotels, such statements are valuable for understanding and assessing financial health. They can also be used to inform strategies and identify relevant trends, making it easier to plan for the future. In this article, you can gain an understanding of what hotel financial
AI Agents Are Now Booking Hotel Rooms – Is Your Property Ready?
AI is moving fast. Really fast. Every day seems to bring a new breakthrough: an image generator that goes viral, a smarter chatbot, a more powerful time-saving tool. Some innovations will fizzle out or quickly be supplanted. Others will fundamentally change how we live and work. And one of the latest to watch for revenue managers? OpenAI’s Operator. Operator has the potential to change how guests book hotels. It’s a new kind of AI agent
Cliches About Revenue Management, Guests’ Quality, and Brand Reputation
What do hoteliers resist about revenue management? One common pushback is lowering prices below a certain psychological threshold. Yet, it's essential during low demand and pays off later. Some hoteliers believe: "I cannot sell below a certain figure because otherwise low-quality guests will arrive and lower the hotel's image; I prefer to stay empty and not sell." Yet, those who practice revenue management know it's the opposite. During low season, you can sell your rooms competitively and maintain a positive hotel image. When you have a high-value property and guests enjoy a competitive rate, their experience translates into a high
Travel Trends: 26 Opportunities for the Travel Industry in 2025
Travel trends are the various behaviors, preferences, strategies, and technologies that shape the travel industry. These trends can be the result of innovations, lifestyle factors, and local or global events. For businesses operating in the travel industry, it's essential to stay up-to-date with the latest travel trends, because this assists with efforts to either meet or exceed customer expectations. Additionally, adopting new trends can provide a vital competitive edge. In this article, you'll learn about
Revenue Management Consulting; Benefits of Hiring a Consultant
It is becoming increasingly common for hotel owners and others in the hospitality industry to acquire revenue management consulting services to optimize prices, distribution, and occupancy rates and maximize financial results. These services will often be acquired from a revenue management consulting firm. In this article, you will learn about the benefits of enlisting a revenue management consultant for your hotel. Table of Contents: What Is a Consultant? Why Hotels Need to Hire a Revenue
Top Language Survival Tricks for First-Time Visitors to Europe
Language barriers for first-time travelers in Europe often create unexpected confusion during everyday conversations and essential situations. Europe offers a rich tapestry of cultures, cuisines, and landscapes spread across dozens of unique language regions. Understanding tricks to overcome language challenges makes traveling smoother, safer, and more immersive from the very
Hybrid Hospitality: The Future of Guest Services and Experiences
Hybrid hospitality is a modern form of hospitality, where traditional experiences are combined with the flexibility to adapt to guest needs. This approach places an emphasis on multi-purpose spaces. Hybrid services have grown in importance because many guests now want to combine leisure, business and well-being experiences. With flexible design
Hotel Room Service: The Ultimate Guide to Elevate the Guest Experience
Hotel room service provides guests with access to food, drinks and other items, delivered directly to their door. This offers excellent convenience and is used by all kinds of guests, including leisure and business travelers. Room service is an important offering and can help to shape overall guest satisfaction levels.