Major events provide a unique opportunity for hoteliers a chance to increase their revenue potential and improve ongoing financial stability. However, more often than not many Hotel Owners and Hotel Managers fail to recognize the need for 'pre-event' planning. Without a proper level of planning prior to an actual event, hoteliers may find themselves overwhelmed by the patronage they experience when the event begins. Similarly, without effective marketing and sales strategies in place in the lead up to the actual event, hoteliers may find they do not reach their full patronage potential that they had originally hoped for. READ MORE

As the wider hospitality industry continues to face a prolonged period of economic uncertainty, hotels should be looking inwards during this time with a view to protecting and making the most out of their intellectual capital. Whilst many organizations are wisely using this current economic downturn to adequately plan for the future through improved levels of staff investment, many others are not heeding the warning signs and are instead shedding costs wherever possible. READ MORE

As the wider hospitality industry continues to face a slow recovery, savvy hotel owners and managers should be looking inwards during this time with a view to ensuring that the technology they use to help run their facilities are best suited for the roles they have to perform. Whilst many international hotel organizations have used the economic downturn to adequately plan for the future through improved levels of technology and staff investment, many others are not heeding the warning signs and are instead shedding costs wherever possible - which can lead to disastrous consequences. READ MORE

In this period of uncertainty, how is a hotel to set long term strategies for 2010 and beyond? Who can predict how next year's economy is going to shape up and when demand is going to return if even the world's best economists are having difficulties predicting global economies for the next few months. Savy owners, operators and managers therefore should not only push back on dooms-day scenarios but put in place two key strategies for a successful 2010... READ MORE

For many hotels, developing effective pricing strategies remains a complex issue for revenue managers. Their goal, ultimately, is to maximize companywide revenue and profits while building strong hotel partner relationships within their marketplace. Beyond the scope of regular revenue management practices such as selecting the correct overbooking, rate restrictions and best available rate, lies the challenge of selecting the correct rates to choose from in the first place. The emergence of rate optimization has made strides to demystify pricing practices and help revenue managers understand the demand characteristics of their products, understand the price sensitivity of demand and design a rate spectrum that is tuned to all these. This allows hoteliers to take full advantage of their business opportunities, ensuring that they are capturing the maximum revenue at all times through an optimized rate spectrum. READ MORE