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
4 Key Metrics for Your Hotel’s Direct Channel Success
Data analytics is, of course, helpful to better understand your hotel’s direct channel performance, but what’s most useful is being able to compare your results to the market to identify potential growth drivers. The Benefits of Hotel Benchmarking Hotel benchmarking enables you not only to access competitive insights but to make better-informed decisions and take action in those areas that will impact your business. Knowing which metrics to focus on, however, can sometimes be challenging…
6 Ways Hoteliers Can Offer a Personalized Digital Guest Experience
Travelers looking to book their holidays spend countless hours researching locations, transportation methods, itineraries, and accommodation options. Especially when booking a hotel, they're faced with a large variety of choices—and they will choose the one they resonate with best. You need to differentiate yourself from the crowd and ensure you are the top choice for your target audience. And for them to choose you, you need to show them that you can cater to their
Hospitality Course: An Overview of Courses & Hospitality Educators
A hospitality course can be a useful way to enhance your career prospects and open up new opportunities within the wider industry. Some courses will serve as ideal preparation for entry-level positions, while others will help to improve your chances of securing senior roles. Here, you will learn much more
The Smart Hotel System: 7 Ways to Make Your Hotel Smarter
The "smart hotel system" concept is now taking center stage regarding reputation, brand loyalty, and the average customer experience. This is why many properties leverage the benefits of a smart hotel room. Let's take a look at this concept in greater detail. What Amenities Does a Smart Hotel System Offer
Hotel ads: Advertising Strategies to Gain More Customers
As the hotel industry landscape changes, your hotel advertising strategies need to change with it. The right hotel ads strategy can distinguish between a successful and less efficient campaign. Your hotel ads strategy needs to target the right people at times when they're looking for a hotel like yours and