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, until now, would have been too time-consuming to calculate. In this article, you'll find the new generation of metrics that every hotel revenue manager should
How to Combine Human and AI Collaboration for the Best Hotel Results
The advancement of AI and automation over the past few years has transformed the hospitality industry. New technology enabled gathering and evaluating vast amounts of data, quickly making informed decisions, and lifting the topline. Especially in the revenue management department, new AI-powered solutions offer the real-time market insights hoteliers need to optimize, adjust and even automate their pricing. One concern remains: how to guarantee that the system aligns with your hotel’s business strategy? And what
How to Attract and Convert the Millennial Hotel Booker
A recent study by Boutique Hotelier (1) revealed that 42% of millennials plan to spend more on travel in 2023, presenting a significant opportunity for hotel brands. With this in mind, we've been keeping a close eye on the latest generation of travelers to understand what sets them apart from other guests and how savvy hoteliers can adapt their offerings to suit their needs and encourage more reservations. 4 Tips to Attract and Convert Millennial
Revenge travelling: What Will Travel After COVID-19 Look Like?
Many trips had to be cancelled due to the COVID-19 crisis, but recent consumer surveys show that many people will want to catch up on those missed travel trips after the crisis; so-called revenge travelling. But now the question is: will demand bounce back as quickly as some seem to
Tips for Hotels During the Corona (COVID-19) Crisis
The Corona (COVID-19) virus global pandemic is an unprecedented crisis, and hotels are among the many businesses feeling the effects, as global travel restrictions come into force and entire countries face 'lockdown' procedures. This article will offer tips for hotel owners looking for ways to optimize revenue and limit the
Hygiene is the New Marketing Message for Hotels
With COVID-19 at the very forefront of most people's consciousness, it is vital for hotels and resorts to include hygiene information within their marketing content. After all, potential guests are now much more likely to make travel decisions with hygiene measures and other coronavirus safety concerns in mind. Read on