Destination Management: How Tourism Adds Value to Your Destination
Destination management can play a vital role in helping unlock the many benefits associated with tourism while ensuring that your destination delivers something unique for travelers. In this article, you will learn more about destination management and how it can help ensure tourism adds value to your destination. Table of Contents: What is Destination Management? Why is Destination Management Important? How to Execute Destination Management 1. Place – What is the Destination? 2. People –
Revenue Manager: Tasks, Skills, Education, Salary, Courses and More…
The role of a revenue manager is one of the most important within hotels and similar organizations, assisting the business by optimizing financial performance. However, many people remain unclear about exactly what a revenue manager is, what tasks are connected to the job, the level of education required, and the salary. In this article, you can learn more about these aspects and build a much clearer picture of what 'revenue manager' really means. Table of
Revenue Management in 2021 – Basing Every Decision On Data
In 2020, revenue managers were forced to make a massive shift. Instead of relying on in-house on-the-books (OTB) data, historical and compset information, you now need to focus on much broader data sets. But collecting and evaluating more data takes your team more time. In this article, you'll learn how hotels can use data for a successful post-COVID recovery strategy. Data Gives You a Deciding Edge If your hotel is among the 87% of properties
How AI Increases The Profitability of a Hotel’s Front Office
Hotel front offices are often considered cost centers when they should be seen as profit centers. Artificial Intelligence (AI) can filter and solve customer requests and FAQs so that staff can focus only on high-value customer requests. Innovation is Not About Replacing Humans With Machines Complacency is the main obstacle to hotel front office modernization. Hoteliers tend to compare their front office human staff is tasks and try to find a machine that could replicate
The Latest Technology Trends in the Hospitality Industry of 2026
It is critical to not only keep track of the latest technology trends in the hospitality industry but also to move with the times because the industry is highly competitive, and those who do not adapt are left behind. Customer expectations and requirements are continually shifting. In this article, you can learn more about the latest tech trends for 2026, which hospitality companies need to be aware of. Table of Contents: What is Hospitality Technology? Why is Hospitality Technology Essential for Companies Operating in the Hospitality Industry? Reasons to Stay Up to Date With the Latest Hospitality Technology Trends? What Developments Are
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 and maximizing revenue. Build a Foundation for Effective Hotel Pricing What's the right price for a business traveler might be the complete opposite of the
5 Star Hotel Organizational Chart: Creating 5 Star Hotel Hierarchy
5 star hotel organizational chart design is an exciting part of the industry as a whole for a number of reasons. It's essentially a design methodology that can keep hotels focused on five star ratings. It's an important subject because charts take much of the subjectivity out of the rating system. People often stress over how various elements might feel, but most of them can be objectively quantified within charts. Obviously, ratings assume consistent service.
Metaverse Travel: How the Metaverse Will Change the Travel Industry
Metaverse travel could revolutionize the way that people engage with the travel industry. Picture a scenario where you can explore a hotel in virtual reality (VR) while you sit in your home on the other side of the world. By creating three-dimensional models of real locations, metaverse travel will create
Hotel Packages: Tips to Optimize the Use of Hotel Package Deals
Hotel packages are helpful for hotels and their guests because they bundle a hotel room with other products or services that may interest them. For hotels, this provides upselling potential, while for guests, it means an improved guest experience and, often, greater value for money. In this article, you can
Tips for Calculating Demand and Price for Events without Historical Data
Question for Our Revenue Management Expert Panel: How do you calculate demand and room price for unique events that are new to your area (e.g., major concerts, Olympic Games, World Cup, etc.) without having historical data to refer to? (Question by Massimiliano Terzulli)Â