October Revenue Management: Focus On Profit

Trending articles this week...

Ford Blakely

Artificial intelligence has become a prevalent part of our everyday lives. From the digital assistants in our homes providing us with access to virtually anything we can think of to the AI-powered apps helping us make important financial decisions, we rely on AI to boost efficiency and productivity in just about every area of our lives. And while no industry has been impervious to the impact of artificial intelligence, hospitality has seen especially significant changes due to the rise of the machines. In this article, we look at how AI has affected the end-to-end guest experience from booking to checkout. Read on...

John Tess

Portland's Harlow Block is the second oldest commercial building north of downtown. Built as a hotel in 1882, it thrived well into the 1920s but then began a descent into disrepair and disinvestment that ended in the building becoming a flophouse before being closed. For the last forty years, people have tried to revitalize the building, only to leave it in worse condition than before. In 2007, Ganesh Sonpatki of Parum Hotels took on the challenge. Despite more than a decade of struggling through code and historic preservation issues, the building is today reborn as a historic boutique 26 room hotel/restaurant. Read on...

Bonnie Knutson

On March 10, 1876, Alexander Graham Bell uttered his famous words, "Mr. Watson. Come here. I want to see you." Watson, who was in an adjoining room heard Bell's summons clearly. The telephone was more than an invention by an unbelievably creative mind. It was a disruptor. There is a distinct difference between an invention and a disruptor. Today, there is a disruptive "new sheriff in town" and its name is Blockchain. In this article, you'll see how this technology can be integrated into your hotel and transform your Loyalty Program. Read on...

Priyanko Guchait, PhD

An organization's forgiveness climate is pivotal in reducing negative and promoting positive consequences of errors, mistakes, or offenses in the workplace. Organizational forgiveness refers to the abandonment of resentment and blame as well as the adoption of a positive, forward-thinking approach to errors, mistakes, and offenses. A forgiving climate in hospitality organizations can increase hospitality employees' job satisfaction, organizational commitment, performance, fairness perceptions, and learning, and decrease turnover intentions. Therefore, hospitality organizations and leaders should consider promoting a climate of forgiveness. Recommendations are provided to managers to create a forgiving work environment in hospitality organizations. Read on...

Coming up in November 2019...

Architecture & Design: Biophilic Design

The hospitality industry is constantly evolving to meet and exceed guest expectations. As a result, hotels are always on the lookout for new ways to improve the guest experience, and architecture and design is an essential part of this equation. Bold design is often the most effective way to make an exceptional first impression - an impression guests use to distinguish between brands. One design trend that is being embraced worldwide has become known as “Biophilic Design.” Biophilic design is based on the concept of biophilia, which is the theory that human beings have an innate tendency to seek out nature, natural elements, and natural forms. Biophilic design is more than hotels simply adding a surplus of plants; it involves incorporating specific design elements into a hotel in order to imbue it with a sense of wellness and well-being. Some of those elements include exposure to natural lighting; views of nature and rooms with a view; natural architectural patterns; salvaged or reclaimed woods of all types; reclaimed metals; sustainably sourced stone; living green walls and vertical gardens; and direct and indirect exposure to nature. Hotels that have incorporated biophilic design into their properties are reaping the benefits associated with this trend including reduced stress responses, better air quality, lower energy costs, and more positive guest reviews. Biophilic design has also been shown to improve guest moods and to satisfy consumer demand for environmental responsibility. Savvy hotel owners and managers are aware that nature-inspired elements enhance their guests' comfort and well-being, which is why this trend is becoming so prevalent. Biophilic design is just one topic in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.