Revenue management has evolved over the years to become more reliant on advanced technologies which promote a strategic, longer term approach to pricing and sales. However, even using revenue management to strategically price hotel rooms and ancillary services is no longer enough in today's dynamic operating environment where the way guests choose the hotel they want to stay in and what price they are willing to pay is constantly changing. It is time that hoteliers stop thinking about revenue management as it has been known, and start thinking about the next generation of revenue management strategies that are adapted for today's digital environment and take additional revenue streams into account. READ MORE

In the franchise world, there is a balance that needs to be struck between remaining true to both the brand and the business. It is understood that the franchisee is a business that must make a profit and that 'sales' are at times made at the expense of tailoring a brand to a franchisor's more immediate geographic and demographic markets. Properties that are owned, managed or franchised by subsidiaries or affiliates must maintain brand consistency and integrity. It's important to consumers. But it also needs to create some individuality. This article explains the importance of how to do both. READ MORE

2013 has been a year of debates and discussions, a year when hotel rates shot up, OTA consolidation continued, rate-parity was hotly debated and meta-search and mobile became mainstream. 2014 is expected to be brighter when it comes to demand, but what does it have in store when it comes to travel distribution? In the last few years, the hotel online distribution landscape has vastly expanded and now offer different platforms like social, mobile, last-minute, opaque and auctions apart from traditional online travel agencies. The emergence of meta-search and same-day booking sites along with the growth of mobile means hotels need to be introspect their distribution strategies for each platform. READ MORE

One of the major customer experience vendors in the hospitality space was recently conducting a study on the “NPS of NPS.” At the time of this writing the results were not known. The survey was brief and asked if you would recommend the use of Net Promoter Score (NPS) on its standard 0 to 10-point scale. Fred Reichheld, a partner at Bain & Company, introduced the concept of NPS in a 2003 Harvard Business Review article in which he proclaimed that the simple measure of consumers' likelihood to recommend the company's products or services was an accurate predictor of revenue growth. However, there's growing debate about the validity of the NPS as many believe it is too simple and too good to be true. A wealth of information and its evolution from Net Promoter Score to its current form of Net Promoter System can be found at http://www.netpromotersystem.com/about/. READ MORE

In today's fast-paced travel market when an overwhelming number of consumers are utilizing social media as a tool for communication and commerce, it is essential for businesses - especially the hospitality industry - to adopt a comprehensive social media strategy to connect with guests and potential guests. Hotel brands must develop social media strategies to reach their global audience as well as to connect with local guests. Hilton Hotels & Resorts and parent company Hilton Worldwide have woven social media into their business plans to effectively engage with their guests around the world through social media platforms that strengthen relationships and encourage loyalty among travelers. READ MORE