Moving Ahead Towards The Light: The Hospitality Industry’s New Trials and Possibilities
There's no doubt that 2022 brought terrific developments for the hospitality industry. Most countries reopened their borders and did away with travel restrictions, and demand matched or even exceeded 2019 levels. However, it's not smooth sailing all around. Our sector faced many ongoing challenges due to the pandemic, and some new issues cropped up, too. What could have been the first "regular" travel year since 2020 is now looking questionable due to the looming recession
How To Upsell Throughout the Traveler Journey (+5 Best Practices)
Upsells are a simple, straightforward way to drive more revenue, increase engagement, and build customer loyalty. Implementing the right upsell strategy can improve the guest experience and your bottom line. Lodging businesses that leverage the power of upsells can increase guest satisfaction by allowing guests to customize their stay, build customer loyalty through personalized experiences, and mitigate external risks with additional revenue sources. 5 Best Practices To Upsell Throughout the Traveler Journey Below you'll learn
4 Key Metrics for Your Hotel’s Direct Channel Success
Data analytics is, of course, helpful to better understand your hotel’s direct channel performance, but what’s most useful is being able to compare your results to the market to identify potential growth drivers. The Benefits of Hotel Benchmarking Hotel benchmarking enables you not only to access competitive insights but to make better-informed decisions and take action in those areas that will impact your business. Knowing which metrics to focus on, however, can sometimes be challenging…
6 Ways Hoteliers Can Offer a Personalized Digital Guest Experience
Travelers looking to book their holidays spend countless hours researching locations, transportation methods, itineraries, and accommodation options. Especially when booking a hotel, they're faced with a large variety of choices—and they will choose the one they resonate with best. You need to differentiate yourself from the crowd and ensure you are the top choice for your target audience. And for them to choose you, you need to show them that you can cater to their
Data Collection Tips for Delivering Personalised Guest Experiences
Question for Our Hotel Marketing Expert Panel What are the top tips and best practices for hotels to collect data in order to deliver personalised guest experiences? How can hotels handle data privacy? (Question by Michael J. Goldrich) Our Marketing Expert Panel Michael J. Goldrich - Founder & Chief Advisor, Vivander Luminita Mardale - Director Of Marketing And Business Development, Vienna House Nicole Sideris - Founder & Principal Consultant, X Hospitality Max Starkov - Adjunct Professor Hospitality Technology, New York University Tamie Matthews - Revenue, Sales & Marketing Consultant, RevenYou Reshan Jayamanne -
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 into how a business is performing and are key tools for accurately analyzing financial statements. Every business owner should know what these parameters represent and
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 all the new tech tools and marketing options available, email marketing continues to drive Return on Investment (ROI) effectively for hotels. Let's dive into a
The Role of Hotel Reception Staff on Revenue Management
Your hotel can do everything right, but if your customers aren’t happy, that can lead to a loss of revenue. Why? Unhappy customers leave negative reviews, and that affects future bookings. The Importance of a Positive Hotel Reputation Recently, while browsing some online property reviews, one stood out. "... we
The Benefits of Offering Multiple Payment Methods at Your Hotel
The world of hotel payments is everchanging. New payment methods are constantly being introduced into the market, from cash and bank transfers to credit cards and digital wallets. To satisfy guest expectations and encourage direct bookings, lodging operators must stay on top of emerging trends and offer the latest payment
Top Tips for Building a B2B Revenue Management Strategy for Hotels
Question for Our Revenue Management Expert Panel: What advice can you offer to hotels implementing a B2B revenue management strategy? How does the strategy differ compared to a B2C audience and what are your top tips for success? Our Revenue Management Expert Panel