Library Archives

 
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 MORE

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 MORE

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 MORE

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 MORE

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Coming up in June 2021...

Sales & Marketing: Playing the Long Game

During an economic downturn, it is tempting to slash marketing budgets to make up for lost revenue. But smart hoteliers play the long game, knowing that companies who stay engaged with their customers will be the first to benefit from a rebound. Therefore, now is the time to renew and revamp sales and marketing strategies in order to be ready for what lies ahead. For example, this is a perfect time to refresh website content, social media and SEO.  The same for hotel blogs where content can be updated to give customers inspirational ideas as they begin to travel and meet again. Multimedia assets should also be revised with new photo/video shoots that provide accurate information about how setups, room configurations, and onsite offerings have changed to accommodate safer meetings and social distancing. The June Hotel Business Review will focus on the sales and marketing strategies that some hotels are adopting in anticipation of a recovery in 2021.