This article dives into the competitive world of hotel revenue management, where strategies range from "rate espionage" to navigating OTAs and modern RMS. It highlights the clash between "Old School" fundamentals and "New School" tech-driven tactics, emphasizing the need to blend both approaches. To succeed, hotels must innovate while preserving the core principles of guest relationships and market intuition. READ MORE
HOTEL BUSINESS REVIEW
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Experimental travel involves an element of serendipity, a deeper connection to the destination, and experimentation with new travel concepts. It is also related to digital nomads, sometimes adventure travelers who spend time at their destinations. As this group can work from anywhere and earn money while traveling, providing them with accommodations, events, services, and facilities can open new doors for hospitality businesses. READ MORE
The growing NIMBY (Not In My Back Yard) movement is impacting the entire hospitality industry, especially the lodging sector. It is the call for No More Tourists! It is easy to see why the trend can significantly impact hotels. In this article you will read where it comes from, why it is growing, and the strategies that two US cities are using to address it. READ MORE
AI-powered loyalty programs are revolutionizing guest engagement in the hospitality industry by offering personalized rewards, real-time interactions, and dynamic loyalty tiers. These programs leverage predictive analytics and AI-driven insights to anticipate guest needs, enhance experiences, and build emotional connections. By integrating AI, hotels can transform loyalty programs into powerful tools for fostering lasting relationships and driving repeat business. READ MORE
Beverage programs are just as important as food programs for hotel bars and restaurants. A well-thought-out cocktail menu can make or break memorable experiences that keep customers coming back for more. In this article, we'll explore how hotel dining venues can stay on top of beverage trends to keep their menu fresh and appealing to new and returning guests. READ MORE
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Hotels collect a wealth of historical data on rates, guest spending, seasonal demand, etc., but less than a third of hotels act on the information. When hotels have the opportunity to increase RevPAR by up to 20%, there's no doubt they should be implementing a dynamic revenue management strategy fortified by accurate guest data by integrating the hotel's systems. READ MORE
It's easy to tell hoteliers to go back to doing what worked in the past, but rules have changed. While travelers are returning to many pre-pandemic behaviors, there are just as many who have had their preferences forever altered. Now is the time to tap into available technology to understand trends impacting guest spending and how hotels can maximize profitability. READ MORE
