As an industry, the hotel sector has become good at proactively chasing bad business. Every time you turn around it seems that there is another opportunity to dump inventory at drastically reduced rates. Recent economic pressures made it even more tempting to unload distressed inventory through channels some hoteliers may never have considered four years ago. As demand recovers though, hoteliers now have an opportunity to change their mentality and cultivate high value segments and improve revenue performance. However, in order to properly target the right guest and attract them to the hotel at the right price, it is vital that a hotel's revenue management and marketing departments collaborate and work closely together. READ MORE

The fact that hotel revenue management is becoming more sophisticated, encompassing more functions and respect, is a given. So, too, is the prevalence and importance of online competition. But the impact of online data availability and increased competition on the qualifications of the revenue manager can be overlooked. The skills, courses, training and focus of the revenue manager of tomorrow will be markedly different than those of yesterday. Understanding the kinds of analytic, leadership, communication skills that revenue managers will need in an ever-changing, increasingly web-centric world will help hoteliers find a competitive edge in today's - and tomorrow's - economy. READ MORE

The last year has proved to be one of the most challenging sales environments in decades, not only for hotels and resorts but for all industries. In such a competitive environment, it is those organizations that can develop (or retain) a strong brand identity and reputation that will perform most strongly, ensuring not only their survival but setting themselves to benefit most from the resulting upturn. Strong brands will secure guest loyalty, and with existing customers up to 7 times more profitable to deal with than new customers this is vital in efficiently utilizing the organization's resources and keeping costs down. Here's a few ideas for developing your brand and its reputation. READ MORE

In difficult economic times, especially in this current downturn that hotel owners find themselves in, investing much needed cash or securing financing for Furniture, Fixtures & Equipment ("FF&E") refurbishments becomes a sensitive topic. Hotel brands require owners to follow brand standards and comply with often strict property improvement plans and timelines. The guest as well has high expectations and often seeks to get more and pay less. This puts a lot of pressure on owners and it becomes critical to make the right decisions for the operation in regard to renovations. It is a fine line between guest expectations and the operation's balance sheet. In the end you cannot put off a renovation, but you can make smart decisions in regard to value for your money, or in other words, return on investment. READ MORE

Organizations must actively motivate their high performers to stay on their teams in order to maintain a competitive advantage. Money talks; but research increasingly shows that financial incentives alone are not the most effective in today's workplace. This article reveals hidden nuances in monetary rewards and identifies a modern incentive paradigm that is evolving and which better fulfills the extrinsic and intrinsic motivators that staff have at all levels of employment. READ MORE