Artificial intelligence and its role in the practice of hotel revenue management is front and center in the minds of most industry professionals today. Is my hotel using it? Should my hotel be using it? How would my hotel use it and what would this mean for my role? In this article, we will discuss how hotel technology is evolving, how any revenue manager looking for continued growth in the field should approach these changes, and why the best revenue management strategy will combine artificial intelligence with human intelligence. READ MORE

What do these new and still-evolving revenue management strategies look like? How is this profit-focused mindset influencing both the day-to-day details and the big-picture thinking of revenue management professionals? Cassie Bond, Regional Vice President of Revenue Management for Chesapeake Hospitality discusses the emerging practice of revenue management and the emphasis on profit over revenue that is leading to sophisticated revenue management strategies, intriguing perspectives, and exciting possibilities in the hospitality industry. She outlines how successful hotels are utilizing the information and enhanced techniques of margin prophets, not just today, but in the months and years ahead. READ MORE

Hurricanes define you and your business. They test everything from physical to mental preparedness. During times of crisis, those in the hospitality industry act as caretakers. Guests and staff are reliant on solid and strong leadership to feel safe in the face of these growing storm systems. Communicate. Stock up on necessary foods and goods. Secure your hotel. Above all, be patient and have endurance. Do anything and everything to prepare your properties, your guests, your staff and yourself for the unknown. Don't try to predict what the storm will do – it's almost impossible. Just monitor and prepare for the worst but hope for the best. READ MORE

While it is undeniable that there is a tremendous amount of data generated throughout the guest journey, for the vast majority of Hoteliers data analytics still remains an unexplored and overlooked domain. Most of the time they will find themselves trying to find the right balance between improving guest satisfaction and increasing profits. With both competition and customer requirements growing, they would generally rather focus on guest satisfaction than crunching numbers and data. The aim of this article is not to provide a review of current data analytics and technologies associated with them, but it rather focuses on what data & data analytics is all about, what makes incorporating them so important. READ MORE

In the hotel business, there are few topics hotter than revenue management. Here is a helpful guide to position your people and your properties for success in an increasingly bottom-line-driven industry that actually demands looking beyond the bottom line. With powerful and sophisticated new tools comes new techniques, new possibilities, and new ways of looking at old challenges. Doll Rice, Vice President of Revenue Optimization at Prism Hotels & Resorts references shifting ownership perspective, technology and dependence, culture clashing and today's trends to go beyond the bottom line. READ MORE

Love them or hate them, OTAs likely drive a substantial number of heads-in-beds to your property. That's not a bad thing, especially when it comes to driving first-time guests. The problem is that far too many hotels aren't putting their best foot forward when it comes to converting first-time OTA bookers into repeat guests who book via a direct channel. This article looks at some simple and effective steps that you can take that will ensure each and every OTA booker wants to return to your property and that they are much more likely to do so by booking direct the next time. READ MORE

A spa's treatment menu is the primary piece of communication with guests and is so much more than just a listing of offerings. It tells the story of the spa's brand and makes a promise of the experience. The spa menu and related pricing is a critical tool to ensuring your spa thrives. Savvy spa directors go beyond simply designing a menu by thoughtfully engineering it. Menu engineering is widely used in food and beverage, but other departments can utilize this valuable tool as well. In this article, we will review how to develop a menu engineering strategy and special considerations which are unique to spa. READ MORE

Since their emergence in the early 2000's revenue management roles have become a critical component of the hospitality industry. Training and development resources for revenue managers have grown considerably in response to this change. Given the likelihood of turbulent times in 2020 – the result of an abundance of new supply, trade wars, the continued proliferation of brands, and other social and economic factors – as a general manager or asset manager the need for a skilled revenue manager is becoming more and more essential. This article provides an overview of the ideal revenue manager, including their most needed attributes as well as how best to measure performance. READ MORE

Hotel chains are using mergers and acquisitions to expand their portfolios and increase revenue, but many don't consider the impact on Revenue Management. For many, the acquisition results in disparate Revenue Management systems that don't integrate with the different brands or create efficiencies of scale. Additionally, some go with an off-the-shelf solution that doesn't take into account the needs of the different mix of economy vs. luxury brands. This article provides an insight into the most common problems hotel revenue managers encounter with mergers and acquisitions, plus some solutions on how to address them. READ MORE

Artificial intelligence has become a prevalent part of our everyday lives. From the digital assistants in our homes providing us with access to virtually anything we can think of to the AI-powered apps helping us make important financial decisions, we rely on AI to boost efficiency and productivity in just about every area of our lives. And while no industry has been impervious to the impact of artificial intelligence, hospitality has seen especially significant changes due to the rise of the machines. In this article, we look at how AI has affected the end-to-end guest experience from booking to checkout. READ MORE

Reaching maximum profitability is an obvious goal. Reaching that goal can be a challenge. Marcela Trujillo, an experienced revenue consultant, explores going beyond RevPAR into market segmentation and how to develop better strategies for attracting the right customer through the right pipeline. Are direct bookings really the least costly? Sometimes, but the source of the direct booking affects net profitability. Will GDS bookings yield a higher ADR than other channels? Sorting out the details of the world of OTAs will help find the true costs and their affect on the bottom line, providing an understanding of optimal business mix. READ MORE

Revenue management as a discipline has evolved over the last 10 to 12 years. The revenue cycle at hotels is no longer just rate changes online, on direct booking channels or the OTA extranets anymore. With the incorporation of ecommerce into the selling strategy revenue managers are encouraged to be more dynamic and forced to think outside the box. Having dynamic pricing strategies driven by the brand and a stronger global presence in the overall accommodation space through partners like Air B & B, Vacation rental hotels have numerous options when it comes to partnerships. READ MORE

Portland's Harlow Block is the second oldest commercial building north of downtown. Built as a hotel in 1882, it thrived well into the 1920s but then began a descent into disrepair and disinvestment that ended in the building becoming a flophouse before being closed. For the last forty years, people have tried to revitalize the building, only to leave it in worse condition than before. In 2007, Ganesh Sonpatki of Parum Hotels took on the challenge. Despite more than a decade of struggling through code and historic preservation issues, the building is today reborn as a historic boutique 26 room hotel/restaurant. READ MORE

On March 10, 1876, Alexander Graham Bell uttered his famous words, "Mr. Watson. Come here. I want to see you." Watson, who was in an adjoining room heard Bell's summons clearly. The telephone was more than an invention by an unbelievably creative mind. It was a disruptor. There is a distinct difference between an invention and a disruptor. Today, there is a disruptive "new sheriff in town" and its name is Blockchain. In this article, you'll see how this technology can be integrated into your hotel and transform your Loyalty Program. READ MORE

An organization's forgiveness climate is pivotal in reducing negative and promoting positive consequences of errors, mistakes, or offenses in the workplace. Organizational forgiveness refers to the abandonment of resentment and blame as well as the adoption of a positive, forward-thinking approach to errors, mistakes, and offenses. A forgiving climate in hospitality organizations can increase hospitality employees' job satisfaction, organizational commitment, performance, fairness perceptions, and learning, and decrease turnover intentions. Therefore, hospitality organizations and leaders should consider promoting a climate of forgiveness. Recommendations are provided to managers to create a forgiving work environment in hospitality organizations. READ MORE