In today's extremely competitive hotel market, hoteliers are recognizing the benefits of taking a targeted approach in identifying and reaching guests who will bring the most value to their hotel. Here are the top ten questions that hoteliers should be asking revenue managers to ensure they are making the most of upcoming demand and attracting the right kind of business. READ MORE

Firms who invested in SEO saw on average a 70% ROI according to MarketingSherpa. So why don¹t more hotels invest in this area? Yes, you are in Google but where are you in Google? If you are not on the first page, then you might as well be on page 99. There might be hundreds or even thousands of keyword phrases relevant to your property where you could be getting some free organic traffic. But without proper professional help you will no longer be able to keep up. READ MORE

Today it is harder than ever to be an independent property. Why? There are two overarching reasons. First, the Internet has made it very easy for consumers to shop around. A lot. Second, given the tough economy and overcapacity in the lodging industry, competition is fierce. So how can independent properties compete and thrive? In the face of stiff competition from deep-pocketed chain hotels, there are many independents who are thriving. They have adapted to the new world and are behaving differently. Quite simply, they have evolved. READ MORE

This paper is about a new approach to optimizing profits, called Customer Centric Profit Optimization (CCPO). In CCPO a new analytical model is used to create lifetime customer behavior profiles (lifecycles). These lifecycles are used across the whole organization to coordinate all departments' actions/interactions to assure they nurture & optimize that customer's strategic lifetime value, turning their loyalty into affinity. CCPO pricing is based on the lifetime strategic value of each customer, not their tactical value for just one transaction or one product. By nurturing and optimizing customer loyalty, where enough customer data is available, strategic profits are increased instead of the tactical profits that are optimized today. READ MORE

Today more than ever, the number one way to reach travelers and bring in bookings is online. If your website isn't operating effectively as a part of comprehensive branding and marketing plan, you are losing business to other properties. Website Analytics tools offer accurate tracking and assessments of your online marketing strategy and bring you a clear picture of your website's reach. With a basic understanding of how to utilize the data from analytics, you can develop the most effective online marketing strategy, maximize your presence on the web and attract new and repeat guests to your properties. READ MORE

While many operational and service related items affect the overall guest experience, the culmination of these events and guests' reactions to them result in their overall impression of both their stay and the hotel. The best way to measure the value guests place on their stay is if they express either intent to return to the property or if they intend to recommend this property to others. And, with such a high percentage of guests seeking input from others before booking their hotel stay, a review that states a willingness to return tends to carry a great deal more weight than one that does not. As such, intent to return, in the social media world, will ultimately be more important to hotels in measuring their relative performance, than the traditional 5-point scoring scales currently being used by many online review sites. READ MORE

It's difficult to understand how people can spend millions of dollars to build a spa and not operate and market it to its full potential. Perhaps they just don't know what to do and what to expect because their experience, expertise and “comfort zone” is more with rooms and F&B than with the spa. We do know that without knowledge, expectations are low and, therefore, results are low. The spa can and should be a profitable and marketable asset, not a waste of valuable real estate or an expensive, under-performing asset that detracts from rather than adds to the overall guest experience and financial viability of the property. READ MORE

It's easy to lose the "science" part of rate setting and switch to "art" or even gut feel. But a series of pricing studies by Cornell's researchers has found that a hotel can leave money on the table by setting inappropriate prices. In this discussion, we're talking about an overall pricing strategy with regard to your competition. Within that strategy, you may want to apply certain tactics from time to time. Tactics and strategy are two related sides of your pricing coin. READ MORE

Since yield is the process of generating every last dollar in revenues and profit flow through that of retaining every last dollar in profits, it is logical and appropriate that they be allies. But often they are found to be adversaries in the sense that they are working at cross-purposes. This can only hurt the business. If it is to realize its inherent power, Revenue Management must no more be treated as only a marketing strategy. Its effectiveness is in delivering incremental profit dollars from incremental revenue dollars. This is what the stakeholders will be expecting. The ones who harness this power are likely to survive the ones who do not. READ MORE

Hotel revenue managers used to forecast rates based on supply and demand. With the evolution of electronic distribution channels and in particular online travel agencies (OTAs) and meta sites have prompted hotels to seek new strategies for determining rates. Most hotels today do not permit OTAs to sell rooms for less than what the hotels charge on their own website in an effort to achieve rate parity. A successful revenue strategy for many hotel operators, and in particular operators who work in hotel chains, has been to offer a "best rate" guarantee. Social Media Review Sites are also having an impact in yield management. These are websites where comments by hotel guests can be posted about a guest's experience during their stay at the property. READ MORE

Now that managing social media is arguably becoming a mainstream activity for hotel marketing departments, it's time for hotels to begin to think beyond marketing applications, and dig into the opportunities to use social data and channels across the organization. Revenue managers, who typically lead the analytic charge within the organization, are uniquely poised to lead in taking advantage of emerging opportunities afforded by social media. However, with all the attention surrounding social media these days, hotel executives must able to see through the hype to develop effective use cases. READ MORE

Have you ever asked yourself at work - what am I doing here?, or - what this is all about and good for?, then you are not alone. Times have changed to a great extent. As companies re-establishing themselves and adapt to an ever-changing environment they slowly start to discover their true potential and assets - their staff members, realizing that without them there will be no company; most companies however still ignoring this fact. READ MORE

Many hospitality properties have taken a proactive approach to the ADA changes and hired an independent firm to conduct an ADA compliance inspection or survey, others have decided to wait and see. While these new regulations promise positive change for those with different abilities; much more can be done in an effort to offer an ADA Friendly environment for those guests. Go beyond the required ADA access; consider adding some of the measures or ADA Friendly features from the 2012 Checklist and become a truly ADA friendly property. READ MORE

After all the effort that you and your staff put towards providing guests memorable experiences on your property; why would you want to undermine your credibility by using inexpensive and potentially harmful food and personal care products? In this article, I will review how Genetically Modified Organism's (GMOs) are defined and regulated in the US and some of the human health risks that have been associated with the production and consumption of GMO's. I will also try to provide a few strategies that hospitality management, purchasing and food services teams can use to avoid the risks that GMOs pose. READ MORE

Do you feel frustrated by the need to constantly update your menus? Is it difficult to constantly be creative and provide fresh and new ideas for your customers? Do you think that your guests are happy with what you offer now and don't want to see changes? If you answered yes, then get ready for a wake-up call. As a Chef with 22 years of experience in the industry, I have seen and experienced numerous changes over the years and updating your menu is one of the most important elements to staying “new” and on the culinary radar. Your regular clientele want to see it and even more importantly, so do your potential clientele. READ MORE