The Metrics Every General Manager Should Track
Starbucks used to track average transaction value as its flagship metric for success. If the number went up, it meant customers were spending more and business was good. Except, they knew it wasn’t that simple, and they were missing out on key insights into spending habits, loyalty, and long-term value. Tracking Metrics That Drive Success in Hospitality They embraced new metrics like customer loyalty, engagement, and lifetime value, and the results speak for themselves. 40% of their US sales are made through their rewards program, with members spending 2-3 times more than non-members. Profit margins grew, wait times dropped. This
What Practices Make a Hotel Booking Process Effective?
Question for Our Hotel Marketing Expert Panel What Practices Make a Hotel Booking Process Effective? (Question by Thomas Dieben) Our Marketing Expert Panel Thomas Dieben - Founder, Becurious Tamie Matthews - Revenue, Sales & Marketing Consultant, RevenYou Jacopo Focaroli - CEO & Founder, The Host Kaylie Holley - Hospitality and Tourism Marketing Professional Peter Ricci - Clinical Professor and Director of Hospitality & Tourism Management Program at Florida
Onboarding for Different Revenue Management Team Levels
Question for Our Revenue Management Expert Panel: How Does the Onboarding Process of Revenue Management Teams Differ According to Level? Which Topics Should Be Emphasized for Each Level? (Question by Daniel Feitosa) Our Revenue Management Expert Panel Heiko Rieder - Vice President Business Development, Hirmer Hospitality and Travel Charme Hotels Alenka McMahon - Managing Director, HOTEL REVENUE SERVICES LIMITED Patrick Wimble - Founder & Managing Director, Lightbulb Consulting
Time To Value: A Key Metric to Help You Identify The Best Tech for Your Hotel
Technology is becoming more and more ingrained into the daily operations of today’s hoteliers, with hotel technology itself evolving in leaps and bounds. As hotel tech platforms and tools become more advanced and marketing-savvy, it becomes increasingly difficult for hoteliers to sift through the noise to find the best tools
Marketing Tips For the Hospitality & Travel Industry During the Corona Crisis
During the coronavirus (COVID-19) crisis, there is a lot of uncertainty in the travel industry. Billions of damage are imminent for the travel industry. The only relief from measures against the Corona (COVID-19) virus can ease the economic pain. The hope of travel organizations is focused on summer and autumn
Do City Hotels Need to Stay Open or Close During the Pandemic?
In the wake of the COVID pandemic, it is fair to say that the hospitality and tourism industry has been hit hard. It has dealt with an unprecedented economic fallout as international travel became restricted, flights reduced, events cancelled or postponed, and attractions and entertainment venues closed for extended periods.