Hotel Business Review: Week of Oct 05, 2015

Marc Stephen  Shuster
  • Condo Hotels
  • Hotel Condominium Resurgence- Is it Smoke and Mirrors?
  • Is it a mirage or are hotel condominiums making a strong comeback from the depths of the recession? Like everything else in real estate, it depends on location, location, location. In a select few cities, where the residential real estate market is only surpassed by the hotel industry (Miami, Los Angeles, and New York City), development is strong. Looking beyond these core cities to the nation as a whole, the resurgence has been slow and steady. Read on...

Brandon Dennis
  • Mobile Technology
  • How to Manage Your Hotel SEO on a Budget
  • SEO (search engine optimization) is a long-term strategy. There are no quick wins. There are no shortcuts. You won’t see success for months, or even years. You need to be ok with that. Think about SEO like investing in the stock market. Sure, a few people get quick wins, but for most investors, they only find success after years of investment in mutual or index funds. You will only find success with SEO if you understand that you are in it for the long-haul. Read on...

Michael Koethner
  • Spas, Health & Fitness
  • Synchronicities: When the Impossible of the Possible May Look Like a Miracle
  • We are living in profoundly extraordinary times and in order to get the most out of it, everyone must fully and completely step aside and leave the constraining and very limiting realms of mundane and irresponsible thinking, behavior and systems, which society has created for itself. People are coming to terms with the painful truth that they have given away all sacred and inherent knowledge and wisdom for the sake of a fake and restrictive safety net that in fact does not exist. Read on...

S. Lakshmi Narasimhan
  • Revenue Management
  • The Ascent of Psychographics in Marketing Mix
  • Whether it be geographic, demographic or the current rage, psychographics (or a combination of the three) that a hospitality business adopts to generate and sustain continued customer patronage, owners are particular only about whether these result in incremental revenues and profits. In short, is the business showing year on year growth? Having poured in substantial sums of money as investment, it is only fair and just that they expect and get returns commensurate with the risk taken and initiative shown. Thus, as far as the owners are concerned, the ascent of psychographics in marketing mix is a good thing since it may well be the tool used to produce sustained results that will make them laugh all the way to the bank. Read on...

OCTOBER: Revenue Management: Optimizing Income Streams Across All Avenues

Klaus Kohlmayr

Technology is having a huge impact on how revenue managers generate and optimize revenues at hotels. At the same time, it’s clearer than ever that the “human touch” is indispensable: Without capable front desk, sales and revenue professionals at the helm, the possibility for generating meaningful ancillary revenue is limited. Equally, with an increasingly demanding and diverse generation of travelers coming to market, it’s critical to be able to match the right kinds of accommodations with the right guests. This article examines the intersection of technology and human interaction in ancillary revenue generation at hotels today – with an eye not only toward enhancing revenues, but building guest experience and satisfaction as well. It pays special attention to the role of upselling, as a central piece to this puzzle. Read on...

Bill Linehan

Disrupters and brand loyalty are the jargon de jour among retail based industries. Even loyalty is making its metamorphosis into the more descriptive recognition. The jargon is evolving in an attempt to keep pace with its ever-changing environment as brands struggle to gain and retain the fleeting attention of consumers bombarded with messaging. Retail sales is more than the sum of its product. It is a masterful and complex interlinking of imagery and awareness that lead the consumer to purchase and advocate within their social circle. You are what you buy. The hotel industry is a retail based industry and savvy marketers are using retail based modeling to grow consumer’s share of wallet and brand loyalty. Read on...

Jon  Higbie

Hotels are no strangers to Revenue Management (RM). They were among the first industries to embrace Revenue Management, albeit by focusing exclusively on yield management. Retailers took notice and decided they, too, should employ Revenue Management, but weren’t certain how to do it since they didn’t have perishable inventory like hotel rooms. Instead, retailers zeroed in on price elasticity, giving birth to price optimization. However this time it was hotels that took notice. By the early 2000s, they were swiftly adopting price optimization of room rates and again transforming their industry. While this strategy has paid handsome rewards, it’s time again for hotels to emulate retailers – and even consumer goods companies – if they want to conquer the next frontier of Revenue Management. Read on...

Stefan Wolf

The act of providing accommodation to travelers has been around for a very long time. But whilst actively selling and marketing hotels and resorts have been going on for some time already, revenue management in that context started only recently. In addition to being a relatively new function in the industry, the scope of revenue management has changed and increased at an incredible speed. In the past, revenue management focused on optimizing RevPAR using the right time, with the right price, right product, for the right customer and with the right channel approach, in isolation of other functions. This is no longer sufficient today. Read on...

Coming Up In The November Online Hotel Business Review

Feature Focus
Hotel Architecture and Design: Unique, Timeless and Memorable Design
With hotel refurbishments typically taking place every eight to ten years for the soft elements, and every fifteen to twenty years for public spaces and bathrooms, owners and investors rely on architects and designers to get things right. Their solutions must satisfy a targeted demographic, be aesthetically timeless and durable, and fulfill the market’s desire for unique and memorable design. From re-thinking guestroom configurations to constructing dramatic public spaces, an effort is being made to recast hotels as the highlight of any business trip or vacation. In that regard, many architects have chosen to make a striking first impression, with an emphasis on the hotel lobby. These areas are being designed as multi-use spaces to accommodate casual or formal talks, individual or group work, and zones for social activity. Creative space segmentation is required, along with furniture that provides comfort and functionality. More extravagant entrance features also include indoor waterfalls, large chandeliers and multi-media stations. The bathroom is also an area of interest for designers in recognition of guest desires to experience luxury beyond their everyday lives. Spa-like features such as en-suite bedrooms, waterfall showers, over-sized bathtubs, his & hers sinks, giant towels, plush robes, and deluxe beauty items provide the promise of indulgent luxury. Additionally, hotel restaurants can no longer afford to be mere providers of three meals a day and a buffet. Signature restaurants are being designed to offer a genuine "wow" factor to both guests and external patrons alike. Along with sustainability concerns and an increased emphasis on local sourcing, these are some of the subjects in the fields of hotel architecture and design that will be explored in the June issue of the Hotel Business Review.