Library Archives

 
Maurice Martin

Today's savvy consumers not only compare your brand and your online offerings with your competitors; they compare you against every other site on the Internet. New capabilities are emerging every day on the big consumer sites that the hospitality industry will soon have to emulate. Hotel brands must produce and maintain an integrated offering that neatly presents all properties and services, while providing a best-in-class user experience. Customers expect that offering to include advanced features: online reservations, loyalty program redemption, local restaurant recommendations, tickets to attractions, smart profiles and much more. The demands on IT organizations are rising dramatically yet few hoteliers maintain the internal resources to stay competitive on a rapidly changing e-commerce playing field. In fact, many IT budgets remain flat or are in decline, forcing companies to turn to lower cost delivery models like offshore development as a cost-effective way to augment staff. But is this model really viable? Read on...

Mike Stacy

There are many elements that go into planning a group getaway; whether it's a group business trip, a family reunion, a friend's getaway or a destination wedding. For each of these groups the questions of where to stay and what to do will vary. What is the anatomy of a great destination for a group trip? The answer is simple, the right city for the right group of people. Equally important is the right accommodation and service for the group. Some of the most popular types of traveling groups are Corporate, Family Reunions, Friends Getaways, and Destination Weddings. The following is an exploration into these groups and some of their top destinations. Read on...

Donald R. Smith

Many hotel companies prefer a CPA model since it can be tracked to an actual stay; thus, the individual hotels pay for actual business received. CPA is a lower-risk option than CPC and much easier to manage, however, both have benefits depending on the needs of the company. Regardless of the distribution model used, it is important for hotel/hotel groups to carefully analyze the ROI before and during each campaign. Within the next five years, online advertising will take the majority the advertising budget so the pressure is on now to figure out which distribution model works best. When deciding, a key success factor will be working with online companies that understand each model and have experience successfully implementing them. Read on...

Maurice Martin

Most hoteliers realize the importance of their Web face to their customers and the extent to which customers interact with the brand through that medium; therefore, we should always invest in the best possible experience for our visitors. Rich Internet Applications provide the potential to take that experience to the next level. The best way to decide if Rich Internet Applications are right for you is to recognize your current Web site's unique problems and identify optimum opportunities for improvement. Read on...

Tina Stehle

Thirty years ago many hotels were implementing their first Property Management Systems (PMS). Its main role at the time was to automate processes that had been handled manually. As the PMS has evolved, hotels have utilized these systems' capabilities to increase efficiency and maximize profits. Initially, this was accomplished primarily through interfacing and more recently, via integration and seamless communication. The complexity of our systems has increased and tech-savvy consumers are driving development. So, now that the PMS has evolved beyond merely managing our information, what will the Property Management System of tomorrow look like? Read on...

Roger G. Hill

Traditionally, we define luxury hotels as five-star resorts with sleek design, top-notch amenities, and expensive accommodations. At the most basic level, a hotel or resort experience is most luxurious when it offers indulgences and unexpected touches, and hotels often create lavish environments with sumptuous d'ecor and attentive service. Although it may seem counter-intuitive, technology, if properly applied, can help a hotel owner take both d'ecor and service to the next level. Every hotel, from an exclusive beachfront resort to a country bed and breakfast can use technology to create luxury. Read on...

Sanjay Nijhawan

All of us who work in the hospitality industry are aware that the needs and expectations of guests are ever increasing and changing. Guests are our job and as companies we need to adapt to ensure we are offering the best level of service and keep guests coming back. An area that has seen the biggest and speediest change in the last ten years in my opinion is that of the technological needs and expectations of the guests. Ten years ago it was enough to offer in-room movies and a small business centre with internet access. Now that offering sounds possibly dinosaur. In a bid to 'keep up' and be a market leader, hotels especially within the premium sector, have fallen over themselves to shout about their building wide Wi-Fi, i-pod docking stations as standard in all rooms and automated check in services. In reality many are merely paying lip service to having these amenities and don't actually have the systems in place to support guests' requirements. Read on...

Kristi White

Travel 2.0 means business. It is not like Web 2.0, which is primarily defined by social networking sites like YouTube, Facebook and Flickr. In Travel 2.0, additional sites such as TripAdvisor, Google Maps, Virtual Tourist, and TravelPost empower consumers with interactive tools to research hotels and plan their trips, comment on their recent stays, and interact with other like-minded consumers. Savvy hospitality operators are embracing all aspects of Travel 2.0 - and beyond - because of its ability to drive business, build community, and empower guests. What are the best ways to leverage it? Here are five strategies... Read on...

Tina Stehle

Property management systems have come a long way since hotels began implementing them in the 1970's and 1980's. At that time, the primary goal of a PMS was to automate basic processes such as housekeeping and reservations. Now, as we approach 2010, new architecture makes PMS integration with other systems easier than ever, and guest-centric functionality is moving property management solutions from static entities that merely track reservations and perform check-in and check-out to dynamic systems that enable hoteliers to predict guest behavior and realize a competitive advantage. What, exactly, do these next-generation property management solutions have to offer? Read on...

Kristi White

For years, making decisions in revenue management and, to some extent, hotel management has been ruled by gut instinct. Revenue managers and hotel operations executives frequently justify their rate setting decisions by saying, "I have a feel for the market" or "I know what the market will do." Yet when asked for a concrete example of how they knew this, they usually have no answer. Smooth economic times are behind us and while their return is inevitable, today we must navigate challenging waters. How can you make the move from instinct-driven to data-driven business decisions? Here is a proven a six-step process... Read on...

Drew Rosser

There is no more important time than now to make sure that your rate distribution and online experience is understandable, uses good imagery and the descriptive terminology speaks to your target audience. Too many hotels use poor images on their booking engines and tend to create rate and room type copy as if they were selling to hoteliers and not to the general public. Look at your online presence from the guest's point of view. Are you really selling yourself the right way online? Read on...

Didi Lutz

Clearly, we all take for granted the immediate access to information with just the click of a mouse. Email has replaced snail mail, most face-to-face contact, and it is beginning to substitute voicemail. "Google" has become an action verb synonymous to finding instantaneous information. Nowadays, dinner can be ordered without picking up the phone. Anything from theatre and baseball tickets, to golf clubs and contact lenses, even groceries are available to purchase via the Internet. Essentially, everything has been converted for online use. There are many interesting theories on the evolution of technology and the socioeconomic impact it has to nearly every industry. Hoteliers read and analyze opinions and case studies to help them make the appropriate technology decisions for their property, whether it involves installing a complicated Wi-Fi system, an innovative computer in the business center, or just a simple guestroom analog phone. It pays to be ahead of the game. Read on...

Tina Stehle

Self-service technology continues to evolve and play a larger role in everyday life. Consumers routinely purchase airline tickets, buy groceries and scan bar codes using self-service technology. Guests also increasingly use self-service kiosks to check into hotel rooms around the world. There's little doubt that consumers are comfortable with the technology. In fact, a recent survey conducted by Self-Service World revealed that less than 1 percent of respondents scored themselves 'low' regarding comfort level with self-service options. And the self-service trend is predicted to continue. Read on...

Mark Holzberg

In this increasingly competitive industry, a critical point of differentiation in guest services is technology. Are you able to offer the types of digital, Internet protocol-based services that your guests want, including wired and wireless high speed Internet access (HSIA), telephone service, HD TV/video service, and a variety of room controls? There is a cost-effective solution to providing what guests want today and also accommodating needs that will likely arise in the future. It's called a converged network. Read on...

Naseem Javed

Now a new routine emerges as savvy marketers enjoy Cyber-Branding using Network Solution's latest offer of $1000 USD to secure a domain name for an entire century. Wow, it's a bargain of the century...it's only 3 cents per day. Right now, it's the cheapest license in the world, providing the registration rights to your URL, the only gateway to your websites and the only key to your cyber-branding in this global e-commerce. Right now, the global cyber-branding is the only game in town when it comes to global marketing. Is there a catch? Yes, right here. If you are only spending only three pennies a day on a URL but thousands on promotional branding each day, then the question is; how good is your domain name? How does it fit your marketing and PR strategy? How is it building your corporate image? Do you really know where you will end up on this long 100-year journey? Is there a plan, or just blind chasing blind? Is your team mentally prepared for this long marathon? In short, it shouldn't be a wild goose chase, rather a proper road map. Read on...

Show Per Page
1 ... 4 5 6 7
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.