Widespread use of technology has given birth to a new generation of millennial travelers leading to birth of multiple millennial-inspired hotels, which are fully equipped with technology to woo this special stream of guests. Needless to say, there is an immense unprecedented opportunity for the hotel industry to grow their business by leaps and bounds.
Selecting competitive set wisely is important for any hotelier. Eliminating or including hotels for consideration as you select your primary competitive set as well as develop secondary or dynamic competitive sets.
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.
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.
Being an independent hotelier offers invaluable opportunities to stay ahead in the market. Since many guests seek an authentic experience, independent hotels can carve out their niche in that segment as well. Couple it with an automated marketing operation and an effective revenue management strategy, and the benefits will delight you!
The rapid stride at which new hotels are coming up is making many experts in the industry think whether these hotels, are amply prepared for the challenges that might surface in this process and most importantly are they ready with their revenue management strategy before they actually get live into business.
Revenue managers spend a considerable time in coming up with a forecasting analysis. But it is also important for them to understand when a forecast needs to be altered and why. It is imperative to understand why demand forecasting is important and also why it is important to do it the right way.
Are you looking for some great hospitality and travel technology blogs to add to your daily reading? Look no further because you have reached the right place! We have reviewed all our blog posts from the past year and have finally pulled together our final list, based on content quality, post frequency, reader involvement and…
We know that hotels choose to manage their OTAs or Online Travel Agents through an extranet, which might be linked to a preferred channel management software. A quota of the entire inventory is allotted through this interface, so the hotel’s rooms can be put up on the OTA (during off season and season periods)…