Tech-savvy, feedback-hungry millennials will soon represent the majority of the U.S. workforce. For the hotel industry, this will bring a fundamental shift in the way managers manage. Gone will be the days of top-down management, replaced by a flatter organization in which information flows freely and managers function as coaches, driving team results by focusing on optimizing individual performance. For the manager accustomed to holding information close to the vest, it will require a change in mindset - and that change will have to start at the top. READ MORE

As I write this article, we are on the heels of HSMAI ROC and HITEC here in Austin, TX. What an amazing learning experience it has been; industry colleagues discussing Revenue Management and how to take it to the next level while keeping it simple. It used to be that revenue management was just about room revenue and how to make each distribution channel add incremental revenue to your bottom line. Now we speak in terms of revenue strategy, optimization of the entire house. Industry leaders are discussing newer terms such as: Total RevPAR, Profit RevPar or GOPPAR, Net RevPAR, Total ADR, etc. and questioning the cost of acquisition, who is tilting the scales now, where does group fall into this new landscape, etc. READ MORE

Amidst continued and foreseeable growth in Tourism and solid numbers in hotel operational performance and investment profitability, are the underlying causes sustainable in the long run? Are the tectonic forces of the online and off-line distribution world adjusting to bring Tourism to the next level? How is the hotel sector faring in increasing its weight in the value chain of Tourism? Focused, well informed and permanent action is needed to stay ahead in an endless fight for value and relevance READ MORE

Pricing, per se, is not a new concept within the hospitality industry, but how we think about pricing and how we deploy pricing to relevant audiences is about to change dramatically. From early stages of fixed rack rates to variable pricing and through today's dynamic pricing, conditions will be just right for an entirely new method to emerge-one that is based on guest value. We call it target pricing. READ MORE

This year has been named the best that the industry has ever seen, however, the growth in distribution costs as well as other operating costs such as health care and the minimum wage increases can stunt profit growth if not managed properly. This means that reliance on the online travel agencies (OTAs) can impact the bottom line in a significant way. By directing guests to your hotel's website and telephones, the savings are abundant. The digital distribution costs are soaring and the number of players entering the market to compete with OTAs is rapidly rising (think Google, Facebook, Apple, TripAdvisor, Amazon and more). READ MORE