The Limits of Rules-Based Revenue Management Technology
There are automated revenue management decision-making systems, and then there are revenue management support tools that rely on a rules-based approach to setting and changing prices. While perhaps an efficient method for some proficient users, rules-based technology requires consistent manual intervention and will undoubtedly struggle as market conditions shift and staffing changeover occurs. Keep reading to understand the limitations of a rules-based system and the undeniable benefits of full RMS automation. Greater Automation Equals Greater
Pricing Your Rooms in 2022 – Getting The Best Results in Times of Uncertainty
Cast your minds back to midnight on new years eve. You probably weren’t thinking about your room pricing. But if you had been, would you have felt confident about how demand will play out this year? How much would you bet on being right? If you are in charge of setting prices for a hotel, then a lot of money can depend on not getting it wrong. Usually, given the data from previous years, you
What Digital Marketing Tools Will be Essential for Hotels in 2022?
Question for Our Hotel Marketing Expert Panel What digital marketing tools (e.g., software, platforms, etc.) will be essential for hotels in 2022? Our Marketing Expert Panel Adele Gutman - Culture and Guest Experience Expert, Hospitality Reputation Marketing Podcast Luminata Mardale - Director Of Marketing And Business Development, Vienna House Thomas Dieben - Founder, Becurious Tim Kolman - Commercial Strategy Expert, three&six Jolien Alferink - Hotel Marketing Consultant, Orange
Housekeeping Responsibilities: Learn About the Hotel Cleaning Tasks
The housekeeping department within a hotel plays a vital role in ensuring guests feel comfortable, safe, and satisfied over the course of their stay. In this article, you can explore the various housekeeping responsibilities, learn about the tasks that housekeeping staff work on, and understand the true value of the department. Table of Contents: What is Hotel Housekeeping? The Significance of Hotel Housekeeping The Trolley as a Tool for Handling Housekeeping Responsibilities 8 Most Vital
How to use Artificial Intelligence in the Hospitality Industry
As computer technology has advanced, artificial intelligence has become more reliable, enhancing its standing within the business world. Indeed, hospitality companies increasingly use AI to carry out customer service tasks, especially important within hotels and resorts. In this article, you get a closer look at which way artificial intelligence is revolutionizing the hospitality industry. Table of Contents: What Is Artificial Intelligence? Why Is Artificial Intelligence Becoming Important in the Hospitality Industry? Benefits of Using Artificial Intelligence in the Hospitality Industry Improving Revenue Improving Customer Experience Increasing Operational Effectiveness 19 Examples of How to Use Artificial Intelligence Within the Hospitality Industry
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
9 Tips to Increase Bookings Through Hotel Metasearch
Hotel metasearch platforms serve as an important distribution channel for businesses in the hospitality industry because many modern travelers will use the internet to shop around for the best rates and will turn to price comparison platforms to assist them with this. In this post, you will learn more about why the best hotel management strategies utilize hotel metasearch, and you will also find nine practical tips to help you increase your number of bookings.
ChatGPT Travel Guide: How the Travel Industry Can Benefit!
ChatGPT is a popular chatbot powered by artificial intelligence (AI) technology. OpenAI created the chatbot and rose to prominence due to its ability to mimic human conversation and provide useful and articulate responses to questions and queries. In this ChatGPT travel guide, you can learn much more about the technology,
ChatGPT Tourism Guide: How the Tourism Industry Can Benefit!
ChatGPT and tourism are a great match. The generative AI chatbot has been taking the world by storm, with more and more industries adopting this exciting new technology for various applications. ChatGPT is set to be one of the top future tourism trends. In this article, you'll learn what ChatGPT
AI in Hospitality: Power Up Your Content with Generative AI
In today's competitive hospitality industry, staying ahead is essential for hotel marketers. The advent of cutting-edge technology has introduced a game-changing solution that is revolutionizing hotel operations: Generative AI (Artificial Intelligence). This powerful technology empowers hoteliers with opportunities to streamline their operations, work more efficiently, and elevate their marketing efforts