Revenue managers face a daily melange of ingredients to analyze, digest and base decisions on. Advances in Big Data and tools to make sense of it are making life a little easier. But, amid this data-overload, losing sight of the bigger picture - exactly how these metrics are impacting on your bottom line - is an ever-present risk. In what will be a refresher course for some readers and a set of new ideas for others, we present our crucial data tips for profitable revenue management, from KPIs to supply and demand factors, and technology to better visualisation. READ MORE
HOTEL BUSINESS REVIEW
LIBRARY ARCHIVES: Search for articles here
When the world is facing high levels of volatility, uncertainty, complexity and ambiguity (VUCA), in part thanks to fast-changing technological, social and business environments, leaders and companies must be prepared to increasingly adjust to unanticipated events. VUCA in hospitality manifests on different levels and can affect individual hotel properties, tourism and entire companies, on a global basis. Many today would assert that, given the current geopolitical climate, the world's VUCA level has again spiked to higher than normal levels. People and corporations must increasingly adjust to unpredictable events. The hospitality sector is no exception. READ MORE
Hiring isn't easy, but there are many ways in which hotel leaders and hiring managers exacerbate the issue. These can include asking the wrong people to be part of the interview process, or worse, asking a committee that's too large to come to a consensus. They can also be basic, like failing to elect the right point person for every candidate. Finding candidates is hard, and when a role has been open for too long, it's possible to let urgency become the chief decision maker. This article provides a balanced breakdown on who should be included in the interview process, and also looks at how to build an effective hiring committee. READ MORE
In today's political climate, taking strong stands can work for or against a business, just as it can for a Hollywood celebrity. While many consumers embrace brands that hold activist positions, there is an equal and opposite reaction for others. If you are a hotel brand, is corporate activism a good idea? This article will examine the arguments for and against it, including examples of hotel companies choosing to lead the charge – and four ways to consider taking action that could add value to your brand. READ MORE
Wildfires have wreaked havoc out West in recent years, threatening California's wine country and other northern towns, as well as Los Angeles and its suburbs. While ensuring personal safety is the first priority after wildfires, a subsequent step should include exploring what a homeowner or in this case, hotel owner, can do to best handle a future wildfire situation. In this article, we'll discuss how hotels impacted by wildfires can take steps to deter damage and get their businesses back up and running. This could include starting up air handling equipment or bringing systems back on-line, among other things. READ MORE
Meetings planners constantly up the ante with exciting conference destinations, utilizing memorable venues such as zoos, museums and outdoor locations. These uncommon venues pose a unique challenge: that of bringing must-have internet connectivity to these extraordinary locations. Wi-Fi is the way to bring in internet quickly, at reasonable cost, and with minimal effort. This article will discuss bringing a carrier class guest Wi-Fi experience to even the most uncommon of destinations. It will cover how to pop-up temporary Wi-Fi services, with and without existing Wi-Fi infrastructure, what It takes to provide "Wi-Fi in a box," and how to leverage Wi-Fi for loyalty and marketing purposes. READ MORE
Market conditions impact our planners tasked to make decisions on destinations for future meetings and events. Taking a strategic look into the cycle to source and confirm the right venue to host your program we explore best practices to find availability in first tier destinations, what to look for when you cannot find availability in your destination of choice, and other costs and concerns driven by the market to be mindful of when sourcing an upcoming program. These practices have proven results navigating the uncertain market conditions of today and the future and could set your programs up for success. READ MORE
Corporate Social Responsibility (CSR) is not just a trend, but a common business value. For over a decade, major corporations have implemented CSR initiatives focused on sustainable practices, ethical business, investment in the community, health and wellbeing of employees and general philosophies about being good citizens of the planet. For events, CSR appears in various formats like incorporating sustainable practices of going paperless or having water stations instead of plastic bottles or volunteer projects like supporting a local charity. These initiatives play a role in venue selection and offer opportunities to use non-traditional space as part of a meeting or conference. READ MORE
Generation Y, The Millennials. Generation Next - These are just a few of the names attributed to the generation born between 1980 and 1999. Millennials, now 19 to 39 years old, were the first to grow up in a digital world, they are the so-called digital natives. To put an entire generation into one category is a crude generalization, however, this generation does share various characteristics. They are characterized by an absolutely experienced approach to the World Wide Web and social media and they not only use but master all of the advantages of the digital world. This article will explain what Millennial "Bleisure" travels expect from the hotel industry and why independent hotels are the perfect match. READ MORE
- Human Resources, Recruitment & Training
- How to Evaluate the Success of Organizational Knowledge Management in Hotels?
Hotel executives need to at least take a look at models associated with knowledge management, which is directed at developing a better understanding of the concept of knowledge management within hotels. Knowledge management has to be measured in some way. Once knowledge is accumulated, the current processes may be supplemented or even substituted. The key point in the process perspective is the knowledge accumulation section coupled with knowledge integration and reconfiguration to ensure that the knowledge is actually helping the hotel grow both professionally for individuals and profitably for all stakeholders. This article raises a vital question as to how hotel executives can successfully evaluate the success of knowledge management in hotels. READ MORE
Recent trends have focused on the sourcing of ingredients from whole animals, to local honey, community farmed vegetables to craft cocktail bitters. The Good Food 100 Restaurants List has done a great job of giving chefs and restaurateurs the ability to see how their buying power can change the food supply and essentially vote with their guests forks. Sourcing is no doubt important, but don't leave behind the rest of the operations. There are many options to be more sustainable throughout the entirety of the business. READ MORE
Food is the gateway to a life in hospitality. I have the luxury of being able to connect with young, aspiring culinarians and food fashionistas every day, and if they all have one thing in common, it's that they were hooked by food at a very young age. "I actually fell in love with food when I was 7 when I first tasted clam and raw scallop crudo" as was told to me recently by a 23 year old chef de partie. She was full of energy, incredibly talented, and truly the example of next generation of chef…and all I could think of was "Seriously, you ate raw clams at 7? Not chicken fingers?" This generation is changing how we all eat, and we are better for it…. READ MORE
In the following article, EMPLOYERS Western Regional Loss Manager Raul Chacon, a workplace safety expert, will discuss the common workplace injuries in hotel food and beverage operations settings. These risks for employee injuries include slips, trips, and falls; cuts and lacerations; burns; musculoskeletal strains; and acts of workplace violence. He addresses how to mitigate each of these risks by identifying their common causes in hotel restaurants and bars, as well as specific tactics employees can take to prevent them. Hotel owners and managers will also learn from this article best practices for training staff on safety policies in order to ensure they are remembered and implemented. READ MORE
As a hotel operating department, food and beverage plays a secondary role to rooms. That's how it's always been, but recent trends in guest tastes and experience have pushed F&B into a more compelling position, one, with the right management, can also be a profit producer rather than a hope-to-break-even enterprise. But maximizing F&B revenues and impeding costs takes forethought and creativity. An inspection of 2018 and historical European F&B data paints a varying picture from city to city, as expenses, from cost of sales to payroll, fluctuate and revenue generation is localized and benefits from canny operational strategies and methods. READ MORE
- Human Resources, Recruitment & Training
- Optimization Requires Knowing One's Guest... But What Does That Take to Accomplish?
Time was that knowing one's customer was as easy as standing in the lobby and interacting with guests as they came and went. "Welcome to the hotel." "Is there anything we can do to make your visit more enjoyable?" "How was your stay?" No more. In today's world, travelers are increasingly self-directing their contact with hotels, before, during and after their stay. So much of the traveler's journey is accomplished without any human interaction. So, how does one optimize the hotel operation from a guest services standpoint? By using the same thing that has created the distance – technology. Read on. READ MORE
Recent Features ...