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Before the COVID-19 crisis, hotel revenue management was largely focused on maximizing room revenue. When COVID-19 hit the global hotel industry, this force hoteliers to come up with many revenue-generating creative ideas to keeping their business afloat from room revenue to renting out equipment, offering outsourced services and using every square foot within the hotel property to generate more revenue. READ MORE
The pandemic has seen hotel operations come into sharper focus than ever, with a growing move away from RevPAR to revenue per square foot. Every inch of the asset must be made to account for itself and deliver to the bottom line as the operation of hotels is overhauled, reports Alex Sogno, CEO, Global Asset Solutions. READ MORE
The evolution of lodging revenue management from the days of a commercial airline tool to its focus on room revenue, to its current status, implies revenue management progression to a total revenue focus. This discussion will review trends in revenue management practices and the changes from a 'rooms only' focus to a total revenue management focus. Revenue management education, learning and decision tools and career pathways will also be discussed. READ MORE
The current challenge facing most operators is obtaining skilled manpower. We loss sleep over it, and it is an overshadowing effect of how we manage our hotels, and at times how we take initiatives in finding new or past sources of revenues/profits. But there is good news if we challenge ourselves. It can be in re-committing leadership to basic standards. It can also be by the use of technology in lieu of the manpower which is in short supply. READ MORE
In this post pandemic world, the hospitality industry has had to find alternative ways to host group meetings. Companies are searching for hotels that not only offer outdoors spaces, but a place where their employees can bond, innovate, and be inspired. To accomplish this, hoteliers must offer mixture of wellness activities and outdoor experiences that blend with work balance. With these elements in mind, what are the initial ways that a hotel can stand out to an event planner? READ MORE
Today's consumers and guests are incredibly savvy to marketing - they see beyond glossy brand marketing and seek out candid feedback, real experiences, and candid reviews from people and resources they admire and trust. These tactics can help you put that kind of content in front of potential guests to help drive interest and booking conversions.
READ MOREIn the ever-competitive world of hospitality, understanding guest willingness to pay (WTP) is the golden key to unlocking optimal pricing strategies and maximizing hotel revenue. WTP essentially translates to the highest price a guest is prepared to shell out for a hotel room and its associated services. By deciphering this value, hotels can strike a delicate balance between attracting guests and securing healthy profit margins.
READ MOREDiscover how drone storytelling is reshaping hotel marketing strategies and driving measurable results. This article explores how independent hotels can harness Emotional Drone Mapping and short-form video to boost guest engagement, increase direct bookings, and elevate their brand presence. Drawing from real-world case studies, it offers actionable, cost-effective strategies that combine emotional psychology, cinematic visuals, and platform-specific content to create lasting impact in today's competitive hospitality landscape.
READ MOREArtificial intelligence transforms the hospitality industry by reshaping luxury standards and delivering personalized guest experiences while enhancing staff abilities and optimizing revenue management. Our research investigates how AI creates a customized service environment and optimizes operational processes for hospitality establishments. This technology revolution promises to elevate guest satisfaction, streamline operations, and drive innovation across the sector, positioning AI as a cornerstone of future hospitality success.
READ MOREWith ICE conducting increased immigration enforcement, many hoteliers may be concerned about whether they are prepared for law enforcement visiting their properties. The Fourth Amendment protects against unreasonable searches and seizures, but how does that apply to privately owned hotels that are open to the public? Understanding rights and developing a plan in advance are crucial for successfully navigating law enforcement inquiries.
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