The ability to aggregate big data into meaningful insight helps hoteliers to provide unparalleled opportunities to improve existing guest services, create innovative marketing strategies, improve the efficiency of operations, and enhance the overall growth and profitability of the hotel.
Part 3 of 4 Hotels Choose your Competitive Set Wisely Selecting competitive set wisely is important for any hotelier. However, with the ease of search for the consumer, the obvious comp set is not always the case. In part 1 and part 2 of this series, we have read about How Modern Revenue Managers Bid…
Hotels are using technology to deliver unique experiences to guests. The power of technology is being significantly harnessed by hospitality industry to enhance guest experience, the role of human touch can never be undermined.
Think of a time when you want to buy something that you have been wanting for a long time. Did you do enough research and due diligence? Now that you are nodding your head in agreement, think about the sources of your research; friends & family and internet would be the top two go to…
Part 1 of 4 Modern Revenue Managers Bid Adieu to Traditional Revenue Managers The progression of the hospitality industry has transformed the revenue management as a central discipline in the hotel. Hotels of today are striving hard to gain more profitability by implementing the latest revenue management strategies and technologies which involve much more than…
3 – Star Hotels: 3 cities had less than 10% of hotels in Parity out of a total of 12 cities surveyed
4 – Star Hotels:1 city had less than 10% of hotels in Parity out of a total of 12 cities surveyed
5 – Star Hotels: 2 cities had less than 10% of hotels in Parity out of a total of 10 cities surveyed
For long, getting to know what hotel guests want has been every hotelier’s bugbear. Ambivalent, unclear suggestions from customers impede hoteliers’ ability to take concrete steps to improve their services. Moreover, in this era of price-oriented competition among hotels, price sensitive travellers; garnering loyal guests become challenging, necessitating the use of specific tools aimed at…
Several vacation rental startups like Airbnb, HomeAway, OneFineStay have entered the market since, bringing about a revolutionary change in the lodging market and giving hoteliers a tough time coping with the consequential reduction in their market share. Hoteliers must cope with the change.
The Hotel Revenue management role is continuously evolving, getting more comprehensive with time, they delve down into various key functions, wearing multiple hats. However, as technology continues to make a deeper impact in our lives, lending a complete makeover to the industry, the question arises whether revenue managers would continue to play the leading role that they do now?
A great way to run offers and promotions is to target past guests of your hotel. In order to do this, you must be sure to collect the email id of each guest that had stayed at your hotel. Remember you must obtain the guest permission for email marketing so ensure that you give them this option to receive promotional emails from the hotel.