September Hotel Group Meetings: The Need for Speed

Trending articles this week...

Felicia Hyde

Consumer expectations for accommodation are rising and new trends are surfacing to drive hoteliers to adjust their design strategies to attract more travelers. Specifically, millennials are traveling more than any other generation and have a strong desire for memorable experiences through unique design elements and customized, adaptable community spaces that elicit a positive and dramatic first impression. These concepts are already transforming multifamily and residential communities nationwide, and as the hospitality industry continues to experience rapid growth, similar strategies must be applied to stand apart from the competition. Read on...

Mark Williamson

Recent independent research revealed that 59 percent of Americans will never buy from a company again if their first call isn’t handled to expectations. The telephone is often your company’s first interaction with potential customers and should be treated as instrumental in converting leads into sales and forging a positive brand image. Unfortunately, hoteliers can’t always answer the phone, first time every time. On-hold marketing represents a unique opportunity to provide an entertaining and informative experience that keeps callers engaged until they speak to a member of staff. Find out why audio branding should be integral to your hotel’s marketing strategy. Read on...

Pete Pearson

The business case for reducing food waste is simple: Saving food saves money. WWF and other organizations have conducted research across dozens of different hotels that found curbing food waste delivers material returns on investment. In one three-year study, the average hotel reaped $7 for every dollar it invested in food waste reduction. WWF found that hotels could save money within weeks of implementing new food waste policies and practices. Hotels that addressed food waste also enjoyed improved staff morale and customer service. Read on...

Michael Hess

The uniqueness of your hotel’s offerings helps your property stand out in a crowded hospitality marketplace but could result in additional headaches when considering the best way to dispose of these goods. Hotel guests adore the varied accoutrements offered by accommodations big and small around the globe. But keeping an edge on in-room swag results in other considerations and complications—even when it comes time to trash the discarded leftovers. What are the most cost-effective, efficient and environmentally friendly practices when recycling amenity items guests leave behind? Here are 10 of the best ways to recycle. Read on...

Coming up in October 2018...

Revenue Management: Getting it Right

Revenue Management has evolved into an indispensable area of hotel operations, chiefly responsible for setting forecasting and pricing strategies. Because the profession is relatively new to the hotel and hospitality industries, a clear-cut definition of what exactly Hotel Revenue Management is has only recently emerged - Selling the Right Room to the Right Client at the Right Moment at the Right Price on the Right Distribution Channel with the best commission efficiency. Though the profession can be summed up in a single sentence, that doesn't mean it's easy. In fact, it's an incredibly complicated and complex endeavor, relying on mountains of data from a wide range of sources that must be analyzed and interpreted in order to formulate concrete pricing strategies. To accomplish this, Revenue Managers rely on an array of sophisticated technology systems and software tools that generate a multitude of reports that are central to effective decision-making. As valuable as these current technology systems are, much of the information that's collected is based on past historical trends and performance. What's new is the coming of big, data-driven, predictive software and analytics, which is likely to be a game-changer for Revenue Managers. The software has the capacity to analyze all the relevant data and predict occupancy levels and room rates, maximizing hotel profitability in the process. Another new trend that some larger hotel chains are embracing is an emphasis on Booking Direct. For Revenue Managers, this is another new channel with its own sales and costs that have to be figured into the mix. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.
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