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
Top Tips for Leveraging Tiktok to Attract and Engage with Guests
Question for Our Hotel Marketing Expert Panel How can hotels leverage Tiktok (boasting 1.7 billion active users in 2023) to engage with and attract guests? In your opinion, which strategies can they apply, and what are the best practices? Our Marketing Expert Panel Luminita Mardale - Director Of Marketing And Business Development, Vienna House Thom de Graaf - Online Marketing Specialist, Orange Hotel Marketing Moriya Rockman - Chief
Restaurant Revenue Management Strategies for Successful Managers
Restaurant Revenue Management To maximize income, restaurant revenue management involves strategic pricing, menu design, and table allocation. It's crucial for optimizing sales, understanding customer behavior, and improving overall financial performance. Effective management ensures that restaurants meet market demand efficiently, leading to increased profitability and sustainability in the competitive food service industry. Key Takeaways Demand Forecasting: Predict customer flow to plan resources and staff efficiently. Dynamic Pricing: Adjust prices based on demand, time, or day to
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 you should take into consideration. The Elephant in the Room: The Fear of AI Taking over Jobs in Hospitality It is only possible to start
Restaurant Revenue Management Strategies for Successful Managers
Restaurant Revenue Management To maximize income, restaurant revenue management involves strategic pricing, menu design, and table allocation. It's crucial for optimizing sales, understanding customer behavior, and improving overall financial performance. Effective management ensures that restaurants meet market demand efficiently, leading to increased profitability and sustainability in the competitive food service industry. Key Takeaways Demand Forecasting: Predict customer flow to plan resources and staff efficiently. Dynamic Pricing: Adjust prices based on demand, time, or day to
An Overview of Metrics Every Revenue Manager Should Track
Navigating the complexities of hotel revenue management isn't easy. From demand forecasting and rate negotiations to inventory management and competitor analysis, there are plenty of challenges to keep revenue managers on their toes. But technology is changing the game. Today's revenue managers have powerful tools at their disposal that can help them streamline operations and focus on strategic optimization. The one-dimensional metrics that were used for decades are being replaced by more sophisticated measures that,
3 Key Strategies for Mastering Revenue Management with PMS Data
Data fuels the commercial operation of a property and empowers hotel Revenue Managers to make informed decisions, outpace rivals, and ultimately boost profits. When discussing data, there's no resource more crucial than your Property Management System (PMS). How to Master Revenue Management with PMS Data: The 3 Strategies Your PMS
8 Signals Your Hotel Pricing Needs Adjustment
Recent studies reveal that prices perceived as unfair trigger discomfort in consumers, leading to reduced purchases, complaints, and negative reviews. Conversely, fair prices activate pleasure centers, enhancing customer satisfaction.[1] This underscores the importance of finding the sweet spot for your hotel's room prices: the perfect balance between attracting (happy) guests
15 Essential Hotel Marketing Strategies
Hotel Marketing Strategies Hotel marketing strategies encompass various techniques hotels use to promote their services, facilities, and unique selling points to potential customers. These strategies are crucial for increasing visibility, attracting guests, and fostering loyalty. Effective marketing can significantly impact a hotel's occupancy rates and profitability, making it a vital