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Jean Francois Mourier

Historical pricing, excessive reliance on comp set analysis, 'push' marketing tactics and a reluctance to embrace new media, are all part of the outdated business model still being clung to by many hoteliers across the globe. If anything positive has come out of the current economy, it has been to show the lodging industry how ineffective these strategies are compared to more forward-thinking, efficient models being used by leading properties worldwide. These initiatives are available and ready for your hotel to implement - all that's needed is a willingness to look beyond the tried and easy methods and to embrace the newest tools available. Read on...

Tina Stehle

Competing in the hospitality environment has never been more challenging. The number of vendors and products is overwhelming. Competitors are constantly looking for a marketing advantage. And hotels within your competitive set are likely to be utilizing business intelligence more than ever before. In this environment, hotels that succeed must do more than merely 'keep up' with the competition. They must be able to identify guest trends, recognize problem areas and develop strategies that increase profitability. They also must be able to react to market changes quickly and efficiently. Sounds good, but how do you make it happen? With 'data analytics,' which uses guest and operational information to predict future trends and stay a step ahead of the competition. Read on...

Jean Francois Mourier

As the hotel industry struggles to keep its proverbial head above the deep recession waters, the matter of effective revenue management becomes more critical than ever. Hoteliers want to know, in such a depressed climate, what revenue management strategies will work most successfully? Well, you asked for it, and you've got it. This article outlines the new revenue management model and the steps that every hotelier needs to take right now (and we do mean, right now!) to survive and thrive during the recession. Read on...

Paul van Meerendonk

To understand the benefits of revenue management, it is important to understand just how far the technology has come in recent years. This article covers the early days of revenue management in the 1990's, where its primary focus was single and independent hotels to the 2000's where it has continued to evolve to deal with the advent of the internet and third party booking sites. For hotels to use their revenue management technology to its full potential, they need to understand its ongoing ability to keep pace with the ever changing hospitality industry. Read on...

Robert Gilbert

Like housing prices, there seemed no end in sight for maximized hotel rates, spurred by ever-increasing demand. But the economy moves in cycles. Every peak overlooks a valley. And so it is in the hospitality industry. However, many managers never have encountered low demand or zero growth. What can they do maintain revenue? There are a number of strategies that properties can use to maximize revenue during the downturn. Robert A. Gilbert, president and CEO of the Hospitality Sales & Marketing Association International (HSMAI), outlines advice for revenue managers. Read on...

Paul van Meerendonk

In recent years there has been a steady increase in the use of internet sites by customers, especially the use of third party booking programs to assist them in planning their holidays. This has helped to dramatically change the way in which hotels manage their room rates and occupancy levels around the clock. In 2008 alone, it has been estimated that 40% of all hotel bookings will be generated by third party internet booking sites. A figure of such potential magnitude as this obviously represents a large slice of a hotels potential clientele base. As the majority of hotels are continuing to embrace this new technology, many are forgetting to ensure they have the correct revenue management support in place beforehand. Read on...

Max Starkov

With more and more revenues in hospitality being generated from the Internet, predictions over the next three years from now will see the Internet contributing over 20% of all hotel bookings and convincingly surpassing total GDS bookings. With such an industrial shift toward the web, hoteliers need intelligence tools to measure performance against its competitive set on direct and indirect channels outside of the GDS. Hoteliers are in search of Internet intelligence reports that make sense. Here's what sales & marketing, and revenue managers should be asking in order to competently formulate their online pricing and inventory control strategy... Read on...

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Coming up in April 2019...

Guest Service: A Culture of YES

In a recent global consumers report, 97% of the participants said that customer service is a major factor in their loyalty to a brand, and 76% said they view customer service as the true test of how much a company values them. And since there is no industry more reliant on customer satisfaction than the hotel industry, managers must be unrelenting in their determination to hire, train and empower the very best people, and to create a culture of exceptional customer service within their organization. Of course, this begins with hiring the right people. There are people who are naturally service-oriented; people who are warm, empathetic, enthusiastic, pleasant, thoughtful and optimistic; people who take pride in their ability to solve problems for the hotel guests they are serving. Then, those same employees must be empowered to solve problems using their own judgment, without having to track down a manager to do it. This is how seamless problem solving and conflict resolution are achieved in guest service. This willingness to empower employees is part of creating a Culture of Yes within an organization.  The goal is to create an environment in which everyone is striving to say “Yes”, rather than figuring out ways to say, “No”. It is essential that this attitude be instilled in all frontline, customer-facing, employees. Finally, in order to ensure that the hotel can generate a consistent level of performance across a wide variety of situations, management must also put in place well-defined systems and standards, and then educate their employees about them. Every employee must be aware of and responsible for every standard that applies in their department. The April issue of the Hotel Business Review will document what some leading hotels are doing to cultivate and manage guest satisfaction in their operations.