HOTEL BUSINESS REVIEW

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S. Lakshmi Narasimhan

While a new hotel is most likely to have minimum repairs and maintenance in its initial three to five years, the property operation and maintenance department has its work cut out to lay out a strategy and prepare for the future years when warranty periods run out, assets get older while ensuring that the guest is served well at all times. It is not for the faint of heart and requires an intuitive understanding of machines, process and people. That should not prevent an engineer from being generally cheerful while going about his obviously onerous duties. The owners will be looking to him to maintain asset efficiency while keeping expenses down in the Profit and Loss Statement. READ MORE

Breffni Noone

In this era of “big data” revenue managers have access to more data than ever before. However, before rushing to add yet another data source into the mix, revenue managers need to critically evaluate its capacity to provide incremental value over and above existing data sources. They also need to need to carefully consider the level at which to leverage that data source, whether for tactical pricing decisions, or as a support for more strategic revenue management-related decisions. In this article, I take a look at some of the new data sources that are receiving attention in the hotel industry, and use them to demonstrate that “more” may not always be better. READ MORE

David Hogan

As our world becomes more and more connected, the terms used to describe “Cloud-Based” computing seem to blur into abstraction. In this article, I'll clarify the terms "Cloud computing" versus "Software as a Service," often referred to as SaaS. In some ways, it's like describing two sides of the same coin. However, there are some clear distinctions, along with risks and rewards, to keep in mind. So… what is the difference between Cloud Computing and SaaS? Is there a difference? READ MORE

Jesse Ostrum

Information is the currency of all organizations. How you handle access to that information within your organization is what determines if you are an innovative leader in your industry or simply another member. Initiating a Revenue Management culture that provides free-flowing information across departmental lines is the key. Data, information and knowledge can no longer be kept isolated by department and used on a “need to know” basis. Marketing, Sales, Operations, Guest Services…all elements of hospitality are tied together and Revenue Management can work with all departments to better guide the organization through the ever changing competitive landscape. READ MORE

Lonnie Giamela

Employees can make or break businesses in the service industry. While customer service oriented employees create a luxurious experience at a lesser establishment, employees that don't prioritize customer service can ruin a guest's experience even at the most finely-appointed hotel. However, managers and supervisors cannot always be present to recognize and reward desirable service practices, nor can they always be present identify and correct poor practices. With so many points of customer and employee interaction, surveillance is one of the most effective methods to safeguard employee safety and integrity, review employee performance, identify training points, and document “HR issues.” Of course, too much of a good thing can be a problem. Employers must understand the difference between valid surveillance and illegal intrusions on privacy rights before taking advantage of video/audio recordings. This article aims to help employers stay on the right side of that fence. READ MORE

Janet  Gerhard

Are you implementing a social media strategy or building a social business? 2013 was viewed as the year where a sense of data and integration with digital and mobile efforts were supreme. Yet, only 34% of social strategists and executives said their social strategy was connected to business outcomes. Research has shown that there are clear differences between companies that are implementing a social media strategy and those that are building a social business. Many in the hospitality industry are focused on the former. Yet, we should all be striving to develop a social business strategy that integrates social technologies into business values and goals in order to create value for customers and build long-term relationships with them. READ MORE

Laurence Bernstein

The notion that social media is either advertising or free is misguided. As is the idea that the two (advertising and social media) are interchangeable. They each accomplish very specific objectives and should be used in tandem to help guide potential customers to making the choice to stay in your property. Advertising can persuade and create a desire; social media, like a sales associate in a store, can answer questions and advise. Together they can lead customers to the purchase solution that best suits their needs. But, caution, this solution may not be the one that best suits your needs! READ MORE

Michael Koethner

Time-Out can be defined and made distinct as a voluntary or involuntary stand-still. Ideally it should be considered as a time to recuperate, heal, refocus and realign the physical, emotional and mental state. This can be applied to a single person, team, family or to a business per se. Looking at the current situation in the hospitality and wellness industry it would be very advisable and most beneficial to everyone involved, to voluntarily go into a dedicated Time-Out, an internal and external Detoxification. In the past few years the industry has been thinking and operating with the wrong fuel. It has damaged its engine. Deep scars are now surfacing. READ MORE

Matthew  Goulden

The battle to tilt a traveler's decision in favor of a specific brand - be it for a supplier or an intermediary - continues to get intense. The focus is on identifying a "lead" as soon as it emerges in the digital domain, and that's where travel metasearch engines are showcasing their prowess. A travel supplier such as a hotel chain or airline needs to plan astutely for real-time hotel inventory availability/ pricing, and optimize campaign, budget and bid management. Since suppliers are dealing with an increasing number of traffic generation sites, associated costs have gone up. No category is feeling this more keenly than hotels. And importantly, a large component of this expenditure is going into competing with OTAs, either via brand.com or other channels such as metasearch. This is unproductive since travel suppliers are paying multiple times for the same conversions! How much to embrace the metasearch phenomenon is a topic of debate at hotel distribution conferences such as those held by HEDNA in January and June of this year. READ MORE

Michael  Brownsdon

Capital allowances are a widely misunderstood routine tax relief that taxpayers regularly fail to maximise. An in-depth analysis of capital expenditure on property assets, including their acquisition, can yield HMRC approved reductions in tax. Poorly defined terms for plant and machinery in legislation gives rise to the undervaluing and misallocation of qualifying assets within tax computations. Reviewing historical and current capital expenditure can result in significant tax savings in current years. READ MORE

Kevin Robinson

Packages are valuable marketing components that increase hotel awareness, create value for the guest, and often times drive room nights over need periods. The effectiveness of the package often is dependent upon the elements associated with the overall experience as well as the price point at which the package is offered. READ MORE

Angie  Dobney

You've heard the expression - "better late than never!"... Well it appears this expression may apply to a majority of the traditional hotel industry when it comes to embracing total revenue optimization. After years of dipping its toes in the water, the hospitality industry appears ready and willing to jump headfirst into a concept that, for more than a decade now, has helped many casino-hotels take their revenues to new heights - anywhere from 5- to 15-percent increases! Below are some of the key practices of casino-hotels that are applicable for traditional hotel to incorporate- READ MORE

David Foliot

As in any line of business, the hospitality industry undergoes continuous shifts and changes. It has evolved through the motivation to offer guests unparalleled comfort and experience, by the need to be as cost effective as possible, and by maintaining the highest quality standards. In an industry where solid wood and veneer were once considered more of a necessity than the norm, mid-scale hotels have recently moved toward wood laminate furniture and its myriad advantages, not the least of which is its impressive durability. READ MORE

Tema Frank

Trust is important in any relationship, especially if you want people to sleep with you. (OK, at your hotel, maybe not exactly with you!) That's why people rely so heavily on reviews on sites like Trip Advisor and Booking.com: hearing what others have said about your hotel helps create the trust they need to feel confident making a reservation. But what if you don't have enough reviews yet to be profiled on the big sites? Or the reviewer numbers are so small that people wonder if it was just your spouse, parents and friends who wrote the reviews? That's when you need to find other ways to build trust with prospective guests. Here are 14 things you can do to build trust and get more bookings. READ MORE

Roberta Nedry

Late afternoon, lazing in our cabana chairs outside our room, next to the pool, overlooking the beach, waiting for our first cocktail as sunset approached. Our guest experience so far was dreamy and our boutique hotel setting exquisite. We loved our room, the ambiance and the feelings we were having. We were comfortable, relaxed and happy with our hotel choice. Then, a high pitched buzzing noise, the sense of something flying nearby, the disturbing sight of a black insect landing on my leg, the stinging slap to end its life, a small squish of blood, a new bump and the realization that the itching would soon begin. A MOSQUITO had interrupted my Guest Experience! And, he brought friends. READ MORE

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