Maximizing Revenue for Extended Stay Accommodations: Challenges and Opportunities
Extended stay accommodations and serviced apartments represent a small but fast-growing portion of the European hospitality sector, with the market projected to grow (1) at CAGR of 12.3% from 2024 to 2030. The segment’s relatively rapid growth should come as no surprise as more travelers are booking trips that blend both work and play, major hotspots crack down on short-term rentals like AirBnb, and their relatively lean operating models fuel an influx of investment and
Hotel Industry Challenges: A Guide for Hoteliers
Hotel industry challenges are best conceptualized as a product of a dynamic economic landscape. These include financial, market, and logistical elements inherent to the modern world. Examples range from staff retention to adaptation of new technological innovations. To succeed in the hospitality industry is to face these challenges with a full understanding of their complexities and possible methods of resolution. In this article you'll learn about the most significant challenges and how to overcome them.
Discover The Latest Housekeeping Trends for 2025
It is important for hotels to keep up with the latest housekeeping trends, as these will influence customer expectations. Furthermore, many of these trends have emerged because they provide ways to manage a housekeeping team effectively, boost efficiency, and improve guest satisfaction. In this article, you can read about the most significant trends to follow to optimize your hotel's operations and keep guests happy in 2025. Table of Contents: What Is the Hotel Industry? What
Outsourcing Revenue Management: 4 Ways it Benefits Hotels
Revenue management is extremely important within the hotel industry because it enables owners to optimize their business operations and improve financial results. However, it also requires specific skills and knowledge, which means that it can be more effective to outsource revenue management to a third party that specializes in this area. In this article, you will learn more about revenue management and the benefits of outsourcing. Table of Contents: What Is Revenue Management? Why Is
AI Agents Are Now Booking Hotel Rooms – Is Your Property Ready?
AI is moving fast. Really fast. Every day seems to bring a new breakthrough: an image generator that goes viral, a smarter chatbot, a more powerful time-saving tool. Some innovations will fizzle out or quickly be supplanted. Others will fundamentally change how we live and work. And one of the latest to watch for revenue managers? OpenAI’s Operator. Operator has the potential to change how guests book hotels. It’s a new kind of AI agent – one that doesn’t just search the web but actually acts on it. It can browse, click, scroll and book rooms, all on its own. So,
The Insights & Misconceptions of Social Selling in Hospitality
Question for Our Hotel Marketing Expert Panel What is the impact of social selling in hospitality? What are the best practices for success? Are there any misconceptions about it and if so, why? (Question proposed by Cory Falter)Â Our Marketing Expert Panel Cory Falter - Partner, Lure Agency Moriya Rockman - Chief of Marketing, Smiling House Luxury Global Max Starkov - Adjunct Professor Hospitality Technology, New York University
The Basics of Revenue Management Explained!
Revenue management is concerned with optimizing financial results and is especially popular in industries like hospitality, which must contend with high fixed costs and a perishable inventory. For example, hotels have a certain number of rooms and fixed costs, which must be met regardless of how many rooms are sold. In such industries, revenue management predicts demand and optimizes inventory and price availability. When utilized correctly, this will ultimately result in higher revenue. Table of
Hotel Industry Challenges: A Guide for Hoteliers
Hotel industry challenges are best conceptualized as a product of a dynamic economic landscape. These include financial, market, and logistical elements inherent to the modern world. Examples range from staff retention to adaptation of new technological innovations. To succeed in the hospitality industry is to face these challenges with a
Discover The Latest Housekeeping Trends for 2025
It is important for hotels to keep up with the latest housekeeping trends, as these will influence customer expectations. Furthermore, many of these trends have emerged because they provide ways to manage a housekeeping team effectively, boost efficiency, and improve guest satisfaction. In this article, you can read about the
Outsourcing Revenue Management: 4 Ways it Benefits Hotels
Revenue management is extremely important within the hotel industry because it enables owners to optimize their business operations and improve financial results. However, it also requires specific skills and knowledge, which means that it can be more effective to outsource revenue management to a third party that specializes in this