September Hotel Group Meetings: Uncommon Destinations

Trending articles this week...

Mostafa Sayyadi

This article points out the vital importance of hotel leadership in effectively aggregating human capital into social capital to achieve higher degrees of competitiveness. This article draws upon the role of hotel executives as social architects that provide elaborative insight for followers by illuminating how hotel executives can effectively build and spend social capital within hotels. This article suggests that it is critical that hotel executives understand that hotel leadership supports social capital to effectively implement knowledge management projects and therefore, remain competitive. Read on...

Marcela Trujillo

Increasing ADR, in conjunction with appropriate occupancy levels, is an ever-present goal. Not only does this increase RevPAR, but gaining more revenue through ADR provides assets with increased profitability. Consistent application of the following proven techniques leads to consistent rate dominance. In this article, co-authors Marcelo Trujillo and David Beaulieu rely on their experience of more than 35 combined years to thoroughly analyze and explain the pathway to sustainable ADR to maximize a hotel's success. Read on...

Bill Caswell

A recent Econsultancy survey querying companies on the most exciting opportunity for 2019 found that customer experience (CX) topped the list, edging out content marketing and mobile marketing. This CX trend has been accelerating over the last several years – especially in the hotel industry. As hotels pursued customer experience strategies, however, they often neglected to invest in their most important competitive advantage: the employees tasked with delivering the customer experience. In the hotel industry, you can't outcompete rivals on CX without an employee experience program that produces satisfied, well-trained employees. Read on...

Court Williams

The hospitality industry is enjoying a healthy period of innovation and growth, with many opportunities for differentiation among the various brands. Successfully "doing business differently" requires pioneering leadership, however, and it's not always easy to find CEOs with the right skills and attributes. With the changes brought about by technology, finding suitable business leaders for the future is paradoxically both easier and more challenging. Hotel company CEOs now need to have a completely different skill set than they did before. This article looks at six of the trends we're currently seeing in hospitality leadership and where hotel companies can source people with the leadership skills they need. Read on...

Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.