Tips for Maximizing Revenue Potential Before Opening a New Hotel
Opening a new hotel or resort property is thrilling and daunting. Wherever you are on your new hotel journey, it's never too soon to assess your revenue optimisation needs. Your new hotel's revenue management approach will play an impactful role at every stage of development, from staffing decisions to tech budgets to sales, marketing, and distribution tactics. Pre-Opening Considerations Given the rapid change in modern market conditions, hotels and resorts should develop a comprehensive commercial
How Often Should Hotels Update Their Pricing?
Question for Our Revenue Management Expert Panel: Are Revenue Managers updating prices too frequently or not often enough? Both pose risks, especially for last minute sales. When is the best time to update prices? (Question proposed by Nikhil Roy)Â Our Revenue Management Expert Panel Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts Chaya Kowal - Director of Revenue Management, Potato Head Family Krunal Shah - Cluster
Why NFT Technology is the Next Marketing Trend in the Hospitality Industry
Non-fungible tokens, or NFTs, are emerging as one of the most significant marketing trends, and NFT hospitality offerings are also growing as businesses come to recognize their full potential. In this article, you can learn about NFTs, their advantages, their marketing potential, and their specific uses within hospitality. Table of Contents: What is a Non-Fungible Token (NFT)? NFT Hospitality Offerings and the Metaverse Why NFTs Are Great Marketing Tools for the Hospitality Industry What Are
Hotel Groups: Top 10 Luxurious Hotel Groups to Work For
Some hotel groups are geared towards the higher end of the market. They focus on offering premium luxury accommodations and services to the more discerning traveler. A certain amount of cache comes with working for a high-end hotel group, as well as better compensation and benefits. Here are some of the most luxurious hotel groups you can work for today. Table of Contents: What is the Hotel Industry? What is a Hotel Group? How to
Restaurant Advertising Trends You Should Know About in 2025
Restaurant advertising has never been more vital in today's competitive dining landscape. As eating habits evolve and food trends emerge, diners constantly seek new culinary experiences and convenient dining spots. This guide explores cutting-edge restaurant advertising strategies to help your establishment attract more customers and boost revenue. Table of Contents: What Is the Restaurant Industry? The Significance of Restaurant Advertising 18 Major Restaurant Advertising Trends for 2025 Your Website & SEO Emphasis on Cleaning Local Community Engagement Google Business Presence Customer Loyalty Programs Personalization Online Ordering QR Menus Restaurant Chatbots Email Marketing for Restaurants Paid Advertising Strategies and Solutions User-Generated
Robots in the Travel Industry: 8 Real-World Examples
One of the most exciting technological developments within the travel industry in recent years has been the increased prevalence of robots, with examples ranging from text-based chatbots and front desk robotic assistants to security robots and robotic travel cases. This article takes a closer look at how robots transform tourism, providing eight real-world examples of their use and examining some pros and cons. Understanding Robots Although most of us have a concept of a robot,
What Is TRevPar?
Total revenue per available room, or TRevPAR, is a KPI used by those within the hotel industry to assess business results. It is concerned with the total revenue generated from rooms and space available. As a result, it can play an important role in a revenue management strategy and provide a useful snapshot of overall performance. What Does TRevPAR Stand for? TRevPAR, or total revenue per available room, is used within the field of revenue
Hotel Conferences: Biggest Organizations & Reasons For Hoteliers to Attend
Hotel conferences are a great way to stay up-to-date with the latest trends, develop valuable relationships, and showcase your hotel's offerings. In this article, you will learn about hotel conferences, deepen your understanding of why they are beneficial, and explore some of the biggest organizations hosting these events. Table of
How to Drive Conversions on Your Website and Internet Booking Engine
It’s no secret that the hospitality industry is among the most competitive ecosystems in the global business landscape. Guests consider countless factors when deciding where to stay during their travels. In this article, you’ll learn how these user experience aspects differ and strategies for making the most of both. Understanding the
Top 3 Goals for Independent Properties and Strategies for Success
They say after the storm comes a calm. However, the storm has yet to pass in the hospitality industry. While seeing the light again is possible, the industry still navigates in turbulent waters. Why? With a fierce competition of over 17.5 million guestrooms in 187,000 hotels (1) worldwide, independent hotels