3 Ways Hoteliers Can Prepare for the Biggest Trends of 2024 and Beyond
In 2024, chasing demand will be a top priority for the travel industry as we head in for a year of moderate growth. While the outlook is promising, lodging businesses are now challenged to increase their RevPAR without alienating price-sensitive guests, as demand is expected to remain relatively flat and inflation rates are high globally. 3 Ways Hoteliers Can Prepare for the Biggest Trends As a hotelier, you must stay informed of market changes, act quickly to seize opportunities, and provide your guests with unique experiences to outperform competitors. In this article, you will find three ways to prepare for
Cliches About Revenue Management, Guests’ Quality, and Brand Reputation
What do hoteliers resist about revenue management? One common pushback is lowering prices below a certain psychological threshold. Yet, it's essential during low demand and pays off later. Some hoteliers believe: "I cannot sell below a certain figure because otherwise low-quality guests will arrive and lower the hotel's image; I prefer to stay empty and not sell." Yet, those who practice revenue management know it's the opposite. During low season, you can sell your rooms
Which Matters Most for Winning Guests – Price or Loyalty?
Regardless of who you are, competition in the hospitality industry is increasingly fierce, and winning new customers is a major challenge even for experienced hoteliers. So, what makes the most significant difference in getting guests to stay at your hotel versus the one down the street? Is it price? Is it the chance to benefit from a personalized loyalty program? The answer—perhaps somewhat unsurprisingly—is neither, or rather, both. It Isn't About Focusing Heavily on Either
The Hard Truth About Revenue Management Right Now (+5 Do’s and Don’ts)
Let’s be blunt. COVID-19 is a global disaster, and this pandemic has brought the hotel industry to its knees—full stop. But the time has come to rise from the ashes and show the world what you are made of. You are innovative, agile, and your hotel fulfills the most amazing
Practical Tips to Increase Hotel Sales When Demand is Low
In a low-demand context, hotels must focus on maximizing their conversion rate. A proactive sales strategy augmented by Artificial Intelligence (AI) proves instrumental in navigating these difficult times. Practical Ideas to Increase Direct Conversion Rates In these low-demand times, every reservation counts. Just making hotel direct booking easy from a
Upselling Tips & Examples to Improve Your Hotel Marketing Strategy
Upselling has been on hoteliers’ minds for many years. Traditionally the revenue manager would devise the underlying strategy and leave it to the front desk team to carry it out. But the deeper you dive into the world of digital upselling, the more you’ll see that it can add value