Total Revenue Management: How Hotels Can Maximize Their Revenue
Total revenue management is broadly defined as managing each revenue source to the highest profitability. By incorporating multiple revenue points of sale like food and beverage, banqueting and conferencing facilities, spa, retail, leisure activities, and others with room revenue management, total revenue management assists hotels in achieving their goal of increasing revenue and profitability in a competitive market. Table of Contents: Total Revenue Management is Here to Stay What Is Total Revenue Management (TRM)? Essential Total Revenue Management Components for Maximum Hotel Profitability Total Revenue Management 2.0: AI, Personalization, and Post-Pandemic Profit Strategies AI and Technology Revolution in Total Revenue
ChatGPT Hotel Guide: Learn How Hotels Can Benefit from ChatGPT!
ChatGPT is an emerging technology disrupting many industries, including hotels and similar businesses. The various ChatGPT hotel applications can not only make life easier for hoteliers and their employees, but also for hotel customers too. Here, you can learn much more about ChatGPT hotel technology and how it can benefit you. Table of Contents: Defining the Hotel Industry What is ChatGPT? How to Use ChatGPT? Can ChatGPT Be Useful to Companies? 5 Advantages of ChatGPT
Top Marketing Tips to Improve Guest Loyalty in Hospitality
Question for Our Hotel Marketing Expert Panel Increasing repeat business for a hotel / accommodation venue is hugely important – but how do we achieve that? How can we build guest loyalty for our properties and brands? (Question by Max Starkov) Our Marketing Expert Panel Max Starkov - Adjunct Professor Hospitality Technology, New York University Tamie Matthews - Revenue, Sales & Marketing Consultant, RevenYou Adele Gutman - Culture
20 Hotel Website Mistakes To Fix To Avoid a Low Conversion Rate
The hospitality industry has strong competition and the rivalry for guests is going to be even more fierce these days. Hotels compete online for guests not only with other hotels but with other players, such as OTAs and Search Engines Hotel Markets. Therefore, hotels should ensure that their website attracts
Hotel Schools: Global List of Hotel Management Schools
Hotel schools provide a range of training on every topic you can think of about the hotel industry. At a hotel school, you might find courses covering everything from general management to accountancy. Hotel schools are vital to developing your career to its full potential. You'll learn about the top
Tips for Hotels to Optimize Their Contactless Guest Journey
Due to Covid-19, social distancing has advanced the prominence of contactless payments and the delivery of digital services. Consumer behavior highlights the growing acceptance and expectation of contactless services, requiring all businesses to adapt to existence. As the hotel industry prepares for the return of travelers, the industry must recognize