Google Travel Insights: Tools & Data Trends for The Hospitality & Travel Industry
The launch of the Google Travel Insights platform is intended to help those in the travel industry by providing a single location to access important market data, industry insights, and relevant tools. In this article, you can learn more about the service and the numerous ways it can help travel companies improve business performance. Table of Contents: What is Google Travel Insights? Why is Google Travel Insights Useful for Travel Companies? The Three Components of
Considering a New Hospitality RMS? Watch Out for These 4 Myths
So, you’re thinking about upgrading to a more effective revenue management system (RMS) for your hospitality organization, but you have some doubts. Maybe you’re thinking: It’s too costly to install a different RM Learning a new system will take too much of my staff’s bandwidth My new system will take too long to learn how to price effectively It’s easier to stick with an RMS, I know. It’s “good enough.” However well-founded those concerns are,
4 Guest Messaging Trends Every Hotelier Should be Aware of
Traveler expectations are changing rapidly as digital and contactless forms of communication become more popular across the hospitality industry. Today's travelers expect to be able to check into their flights through mobile apps, buy train tickets online, and communicate with their accommodation providers through text. Read on to learn more about emerging trends related to guest messaging that are sure to change the industry as we know it. 4 Trends in Guest Messaging Below you
How to Make Effective Upselling Part of Your Hotel’s Culture?
In hospitality, you’re always trying to do just a little bit better, both in terms of the experience you offer guests and the revenue you generate. Implementing new ideas and making them part of your property’s culture can seem challenging. But with the right training, it’s easier than you may think. In this piece, you’ll learn how to use a modern approach to staff development to encourage your team to tap into new incremental revenue
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. Identify the Market Segment Qualifying group business starts with identifying the market segment into which it falls. While your hotel may serve different types of
Total Revenue Management: How Hotels Can Maximize Their Revenue
Total revenue management is broadly defined as managing each revenue source to the highest profitability. By incorporating multiple revenue points of sale like food and beverage, banqueting and conferencing facilities, spa, retail, leisure activities, and others with room revenue management, total revenue management assists hotels in achieving their goal of increasing revenue and profitability in a competitive market. Table of Contents: Total Revenue Management is Here to Stay What Is Total Revenue Management (TRM)? Essential
3 Key Questions for Evaluating RMS Options Before Budget Season
Hotel budgeting season is right around the corner, and many hoteliers are getting ready to roll up their sleeves and start making tough financial decisions as they look to align investment priorities with next year’s budget projections. This is often a challenging and time-consuming process, but it’s also an opportunity to think through a strategic vision and evaluate the tools and resources needed to achieve these goals. Investing in an RMS is a High Priority
Best Practices for Revenue-Generating Email Marketing
Question for Our Hotel Marketing Expert Panel What are the best practices for driving revenue-generating email marketing and for collecting valid email addresses from guests? (Question from Nicole Sideris) Our Marketing Expert PanelElvira Wilthagen - Owner, Heads in Beds Thom de Graaf - Online Marketing
Travel Industry Podcasts; 15 Excellent Podcasts for Industry Professionals
Travel industry podcasts are growing in popularity all the time and now represent one of the easiest and most enjoyable ways to learn about the industry, access actionable insights, and become aware of emerging trends. In this article, you can explore some of the very best podcasts aimed at travel
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