How to Use Stay Restrictions in Hotel Revenue Management to Drive More Revenue
Restricting your guests’ ability to book the stay dates they want may not sound like the best idea initially. But depending on your hotel, audience, and market situation, stay controls can be a vital revenue management tool. On top of driving reservations on slower days, they can increase revenue, reduce turnover and drive profitability. Read on below to discover more about using stay controls to improve your property’s results. How Restriction Management Works at Hotels
Metaverse Travel: How the Metaverse Will Change the Travel Industry
Metaverse travel could revolutionize the way that people engage with the travel industry. Picture a scenario where you can explore a hotel in virtual reality (VR) while you sit in your home on the other side of the world. By creating three-dimensional models of real locations, metaverse travel will create new experiences and new ways for people to choose accommodations and activities. Table of Contents: What is the Metaverse? What is the Difference Between the
Hotel Packages: Tips to Optimize the Use of Hotel Package Deals
Hotel packages are helpful for hotels and their guests because they bundle a hotel room with other products or services that may interest them. For hotels, this provides upselling potential, while for guests, it means an improved guest experience and, often, greater value for money. In this article, you can learn about how hotel packages work, the different types of packages, and how to optimize their use. Table of Contents: What Is the Hotel Industry?
Tips for Calculating Demand and Price for Events without Historical Data
Question for Our Revenue Management Expert Panel: How do you calculate demand and room price for unique events that are new to your area (e.g., major concerts, Olympic Games, World Cup, etc.) without having historical data to refer to? (Question by Massimiliano Terzulli) Our Revenue Management Expert Panel Massimiliano Terzulli - Revenue Management Consultant, Franco Grasso Revenue Team Pablo Torres - Director Of Sales and Marketing, Alannia Resorts
Differences Between a Hotel and a Motel Clearly Explained
Differences between a hotel and a motel are typically seen within the spheres of target demographics, their provided services, and overall design. However, you'll also see considerable variation in these categories, ranging from utilitarian overnight services to luxury accommodation. These distinctions help to inform travelers and guide management or expansions. In this article, you'll discover their fundamental differences and characteristics, along with the business strategies that leverage their unique qualities. Table of Contents: Understanding Hotels and Motels Why Understanding Hotel and Motel Differences Matters Key Differences in Hotel and Motel Operations Location and Design Features Service Levels and Amenities Target
Unlocking Insights and Revenue Potential with Room-Type Analytics
In a hotel, understanding the dynamics of room types and leveraging this understanding can significantly impact revenue, profit, and guest satisfaction. Room-type analytics is a vital component of any hospitality Business Intelligence platform and offers hotels a deeper insight into their inventory’s performance. Data-driven decisions based on Room-Type Analytics enhance profitability and guest experience. This article dives into Room-Type Analytics, its benefits, implementation strategies, and how hotels can leverage this tool for success. What is
Ten Steps to Successfully Introduce AI to Your Hotel Teams
If you plan to roll out a new smart technology or artificial intelligence tool at your hotel, you need to design a thorough team onboarding process. Getting your hotel staff on board with a new solution is key to successful adoption and operational efficiency, but it can also positively impact employee morale and retention. Many hoteliers miss out on this opportunity by rushing to implement the new technology. This article lists the most important steps
Evaluating the Cost Of Acquisition in Hotel Marketing Strategies
Question for Our Hotel Marketing Expert Panel How can the “cost of acquisition” be calculated? Should it be our main focus? Should it be added to direct marketing costs in comparison to OTA distribution costs? (Question from Matthias Dybing) Our Marketing Expert
Hotel RMS Evolution: From Ledgers to Spreadsheets to Cloud-Based Systems
While the evolution of all hotel operational technologies has been a fascinating study, the evolution of hotel revenue management systems (RMS) has been particularly interesting, as it has gone through so many distinct and completely different phrases in a relatively short time (approximately the last ten years). RMS Transformation -
5 Signs Hotels Need a New Digital Marketing Partner
Partnering with a strong digital marketing agency can propel your property to new heights. But when that partner fails to innovate, falls short on reporting, or cannot adapt, the relationship can become an obstacle to growth. Here, you find five signs that it’s time to consider a new digital marketing