The Differences between Hotels and Service Apartments Explained
What is the difference between hotel and service apartment properties? These two types of lodging are similar but still quite distinct from each other, to the point where they deserve some extra attention. The difference between a service apartment and a hotel is important for both hoteliers and guests alike as it sets goals and expectations. You know what to expect when the distinctions are plainly laid out. In this article, you’ll learn exactly what differentiates the two. This will enable you to perfectly plan for your needs. Table of Contents: What Is a Service Apartment? What Is a Hotel?
5 Strategies to Increase TrevPAR at Your Hotel
From ADR to RevPAR and GOPPAR, lodging operators must track many metrics to assess business performance and make strategic decisions. One of the most powerful but overlooked measures of success for hotels today is TRevPAR, or total revenue per available room. Here we discuss what TRevPAR is and how to increase it at your property. The Rising Importance of Measuring Total Revenue Performance Unlike RevPAR, TRevPAR measures total hotel revenue, not just room revenue. It
5 Common Challenges for Cluster Revenue Managers and How to Master Them
The idea of clustering revenue management positions has become more customary recently. When it’s done well, it lets you reduce costs, boost efficiency, and increase revenue. But clustering isn’t always easy. Time constraints and the ability to access reliable, real-time data can make it difficult. 5 Common Challenges for Cluster Revenue Managers If you create a cluster of three hotels, one revenue manager probably won’t be able to give the same level of attention to
Are Flexible Revenue Management Conditions Due to COVID Here to Stay?
Question for Our Revenue Management Expert Panel: Are the recent booking condition changes (e.g. increased flexibility around cancellation policies, check-in and check-out) a temporary solution or a more permanent change for the hospitality industry? Our Revenue Management Expert Panel Christoph Hütter - Revenue
Biggest Hotel Learnings in Guest Communication due to Covid
Question for Our Hotel Marketing Expert Panel What has been your biggest learning in guest communication over the past 12 months? Our Marketing Expert Panel Colleen Buckley - Hospitality Marketing Executive Reshan Jayamanne - Digital Marketing & Sales Strategist, Bnb Optimized Nicolas Lajambe
Intelligent Pricing Automation: Learning from Satellite Navigation
In the mid-90s, when satellite navigation (sat-nav) started to get popular, the navigation systems based their route recommendation on static data. The result: drivers often didn’t trust the sat nav because the recommended route was not the optimal one. Well, things have changed in the sat-nav landscape. In this article,