HOTEL BUSINESS REVIEW

FOCUS:

 

Data-Driven Decision-Making in Hotel Revenue Management

By Nicholas Tsabourakis Founder & Managing Director, Bespoke Revenue Management | April 2024

In today's fiercely competitive hospitality landscape, where guest preferences evolve rapidly and market dynamics fluctuate unpredictably, revenue management stands as an indispensable cornerstone for hotels seeking to thrive.

Revenue management transcends mere price adjustments; it embodies a strategic orchestration of pricing, inventory, and distribution channels to optimise revenue and profitability while meeting guest demand. Within this intricate balancing act lies the pivotal role of data-an unparalleled asset empowering modern hotels to make informed, proactive decisions that surpass the traditional paradigms of revenue optimisation.

The hospitality industry's reliance on revenue management isn't merely a choice; it's a necessity dictated by the dynamic nature of demand, seasonality, and the evolving preferences of guests. Hotels must navigate a landscape where factors like local events, economic trends, competitive offerings, and even weather patterns exert immediate and profound effects on room demands and pricing structures. Here, revenue management emerges as the strategic compass guiding hotels through these complexities, enabling them to maximise revenue while ensuring optimal occupancy rates and profitability.

Central to this paradigm shift in revenue management is the ascendancy of data. Gone are the days when revenue decisions were predominantly based on gut feelings or historical patterns alone. In the digital era, data reigns supreme, serving as the lifeblood that fuels informed decision-making. The importance of data in revenue management cannot be overstated-it's the catalyst driving a fundamental transformation in how hotels strategize, price, and optimise their offerings.

Data, in its myriad forms-ranging from guest booking behaviours, historical trends, competitor insights, to market segmentation-provides an expansive canvas upon which hotels paint their revenue optimisation strategies. Advanced analytics and technology have unlocked the power to distill this wealth of data into actionable insights. Sophisticated algorithms analyse vast datasets in real-time, forecasting demand patterns with unprecedented accuracy, enabling hotels to anticipate market fluctuations and dynamically adjust pricing and inventory strategies.

Moreover, the integration of data-driven approaches isn't just about reacting to market shifts; it's about proactive engagement. Personalisation, a cornerstone of modern guest experience, thrives on data. Hotels adept at harnessing guest preferences and behavioural data curate personalised offerings, tailoring experiences that resonate deeply with individual guests, fostering loyalty, and driving revenue through enhanced satisfaction and repeat visits. Thus, data isn't merely a tool for revenue optimisation; it's the key player of guest-centric strategies that redefine hospitality excellence.

In this article, we look at the relationship between data and revenue management. We explore the evolving landscape where data-driven decision-making has become a competitive necessity, unravelling how hotels leverage data analytics, predictive modelling, and technological integration to steer revenue strategies into uncharted territories of success. Join us as we embark on a journey through the transformative power of data in redefining the very essence of hotel revenue management.

Fundamentals of Revenue Management

The hotel industry relies on revenue management as a necessity rather than a choice. Revenue management stands as the guiding philosophy that goes beyond price-setting. It encapsulates a strategic approach, encompassing pricing strategies, inventory allocation, and distribution channel management. It represents the art and science of optimising room revenue and maximising profitability while navigating the ebbs and flows of demand and market dynamics.

At its core, revenue management involves the deliberate orchestration of pricing strategies and inventory control to extract the highest possible revenue from available rooms. This concept, although anchored in financial optimisation, extends beyond mere pricing adjustments. It involves a sophisticated understanding of demand patterns, market segmentation, and consumer behaviour to make data-informed decisions that impact not only revenue but also guest satisfaction and long-term business sustainability.

The primary objectives of revenue management in the hotel industry are multifaceted, encompassing both financial and operational goals. Maximising revenue and occupancy rates represent the overarching aims, but achieving these objectives involves a nuanced understanding of various facets:

Maximising Revenue: The fundamental goal of revenue management is to optimise revenue generation, not merely by increasing prices but by selling the right room to the right guest at the right time. This involves leveraging data insights to set prices dynamically, adjusting them based on demand fluctuations, seasonal variations, and competitive positioning to maximise overall revenue streams.

Optimising Occupancy Rates: While revenue maximisation is pivotal, it's equally important to ensure optimal occupancy rates. Revenue management strategies aim not only to maximise the revenue per available room but also to maintain consistent occupancy levels. This entails balancing pricing strategies with inventory control, avoiding both under-booking and overbooking scenarios.

Forecasting and Planning: Revenue management relies heavily on accurate demand forecasting. By analysing historical data, market trends, and external factors, hotels forecast demand patterns to anticipate peak periods, fluctuations, and seasonal variations. This foresight allows them to allocate resources effectively and make informed decisions regarding pricing and inventory distribution.

Enhancing Operational Efficiency: Effective revenue management isn't solely about pricing strategies; it involves streamlining operational processes to align with revenue goals. This might include optimising distribution channels, refining marketing strategies, and employing technology to enhance efficiency in managing room inventory.

In summary, revenue management is a strategic discipline that transcends conventional pricing strategies. It's a multifaceted approach aimed at balancing revenue generation, occupancy optimisation, and operational efficiency, all underpinned by a deep understanding of market dynamics and data-driven decision-making. In the subsequent sections, we'll delve deeper into how data becomes the cornerstone of executing these revenue management objectives, transforming strategies from reactive to proactive in the ever-evolving landscape of hospitality.

Role of Data in Revenue Management

In the dynamic realm of hotel revenue management, the pivotal role of data takes centre stage, transforming the traditional landscape and ushering in an era of precision and foresight. This chapter delves into the instrumental role that data plays in shaping revenue management strategies.

1. Data Collection: Navigating the Information Terrain

In the pursuit of optimising revenue, hotels embark on a comprehensive data collection journey, tapping into a diverse array of sources to capture the multifaceted nature of guest behaviours and market dynamics.

Guest Booking Patterns: Understanding how guests interact with booking platforms and websites provides invaluable insights. Analysing booking patterns unveils trends related to lead times, booking channels, and preferred room types, enabling hotels to tailor pricing and promotional strategies accordingly.

Seasonal Trends: Recognising the seasonality inherent in the hospitality industry is crucial. Data on seasonal demand fluctuations empowers hotels to anticipate peak periods, adjust pricing strategies, and optimise inventory to meet heightened demand during specific times of the year.

Competitor Analysis: To stay competitive, hotels must analyse the pricing and marketing strategies of their peers. Data on competitor pricing, promotions, and guest reviews allows hotels to position themselves strategically in the market, adapting their own strategies to gain a competitive edge.

Market Segmentation: Understanding the diverse segments of the market is essential. Data-driven insights into different guest demographics, preferences, and behaviours enable hotels to create targeted offers and experiences that resonate with specific customer segments.

2. Analytics Tools: Decoding the Data Mosaic

The deluge of data collected by hotels necessitates sophisticated analytics tools to extract meaningful insights. Various analytical techniques empower revenue teams to interpret and act upon the wealth of information at their disposal.

Predictive Modelling: Predictive modelling involves using historical data to forecast future trends. By analysing past booking patterns, demand fluctuations, and external factors, hotels can develop models that predict future demand, enabling proactive decision-making in setting prices and optimising inventory.

Machine Learning Algorithms: Machine learning algorithms take data analysis to a new level by identifying patterns and trends that may not be immediately apparent. These algorithms can optimise pricing dynamically, personalise marketing strategies, and refine operational processes based on real-time data.

Business Intelligence Platforms: Comprehensive business intelligence platforms aggregate and visualise data, offering intuitive dashboards that empower decision-makers with real-time insights. These platforms provide a holistic view of key performance indicators, enabling revenue teams to make informed decisions on pricing, promotions, and distribution channels.

In essence, the role of data in hotel revenue management is transformative. The ability to collect, analyse, and derive actionable insights from diverse data sources empowers hotels to navigate the intricacies of the market, adapt to changing guest behaviours, and execute revenue management strategies with precision and agility. The subsequent sections of this article will delve into how hotels leverage these insights to implement data-driven strategies for demand forecasting, dynamic pricing, and personalised guest experiences.

Implementing Data-Driven Strategies

1. Demand Forecasting: Anticipating the Tides of Demand

The cornerstone of effective revenue management lies in accurate demand forecasting. Hotels employ sophisticated analytical techniques, leveraging historical data and predictive analytics, to anticipate future demand patterns.

Historical Data Analysis: By examining historical booking patterns, seasonal variations, past guest behaviour, and market trends, hotels can identify recurring patterns and trends. This analysis forms the basis for predicting future demand during specific periods, allowing for proactive planning and resource allocation.

Predictive Analytics: Utilising advanced predictive models, hotels extrapolate from historical data to forecast future demand scenarios. These models consider a multitude of factors-such as events, economic indicators, and even social trends-to anticipate fluctuations in demand with greater precision. This enables revenue managers to adjust pricing and inventory strategies pre-emptively.

2. Dynamic Pricing: Adapting to Market Dynamics

Dynamic pricing represents a paradigm shift from static pricing models, allowing hotels to adjust room rates dynamically in response to changing demand and market conditions.

Real-Time Adjustments: Leveraging data analytics and real-time insights, hotels can dynamically modify room rates based on factors like demand surges, competitor pricing, and even weather conditions. This agile pricing strategy ensures that room rates align with current market demand, maximising revenue potential.

Optimisation Algorithms: Employing sophisticated algorithms, hotels can automate pricing adjustments based on preset parameters and dynamic market signals. These algorithms factor in variables like occupancy rates, lead times, and guest preferences to determine optimal pricing structures in real time.

3. Personalisation: Crafting Bespoke Experiences

Data-driven strategies enable hotels to personalise offers and services, tailoring guest experiences to individual preferences, fostering guest loyalty, and enhancing overall satisfaction.

Guest Profiling: By analysing guest data-preferences, past behaviours, and interactions-hotels create detailed guest profiles. These profiles serve as the foundation for offering personalised services, recommendations, and promotions.

Customised Offers: Leveraging guest profiles, hotels curate personalised offers and packages tailored to specific guest preferences. This could include room upgrades, special amenities, or targeted promotions based on individual guest interests and behaviours.

Enhanced Guest Engagement: Personalisation extends beyond the booking stage, encompassing the entire guest journey. Hotels utilise guest data to personalise interactions during the stay, offering bespoke services and anticipating guest needs to deliver exceptional experiences.

In essence, implementing data-driven strategies in revenue management empowers hotels to transcend traditional approaches. By accurately forecasting demand, dynamically adjusting pricing, and offering personalised experiences, hotels optimise revenue potential while fostering deeper connections with guests. This chapter explores how data-driven decision-making reshapes revenue management practices, enabling hotels to adapt swiftly to market dynamics and evolving guest preferences.

Challenges and Considerations

1. Data Quality and Accuracy: Navigating the Terrain of Reliability

While data serves as a catalyst for informed decision-making, its reliability and accuracy pose significant challenges. Several factors contribute to data quality concerns in hotel revenue management:

Fragmented Data Sources: Hotels accumulate data from various sources-booking platforms, PMS (Property Management Systems), CRMs (Customer Relationship Management), and external sources. Integrating and ensuring the coherence and accuracy of this diverse data is a challenge.

Incomplete or Inaccurate Information: Inaccuracies, missing data points, or outdated information can skew analyses and predictions, impacting the reliability of revenue management strategies.

Data Silos: Disparate systems often result in data silos, hindering a holistic view. These silos impede comprehensive analysis and limit the effectiveness of revenue optimisation strategies.

2. Privacy and Ethics: Navigating the Data Ethics Landscape

The collection and utilisation of guest data raise ethical considerations surrounding privacy and data usage:

Guest Privacy Concerns: With increased data collection, guests express concerns about the security and privacy of their personal information. Hotels must navigate the delicate balance between data collection for personalised experiences and respecting guest privacy preferences.

Compliance and Regulations: Adhering to data protection regulations (such as GDPR, CCPA) is paramount. Hotels must ensure that their data collection, storage, and usage practices align with legal frameworks to safeguard guest data.

3. Technological Integration: Fostering Harmony Among Platforms

Effective data-driven decision-making necessitates seamless integration of diverse technology platforms:

Interoperability Challenges: Integrating various systems-PMS, CRM, revenue management software-poses technical challenges. Ensuring compatibility and interoperability among these systems is crucial for leveraging data effectively.

Investment and Training: Implementing and integrating sophisticated technologies requires substantial investment and training. Ensuring that staff are adept at utilising these tools optimally is essential for deriving maximum value from technology.

Data Security Measures: With increased integration comes heightened concerns about data security. Hotels must prioritise robust security measures to protect sensitive guest information across integrated platforms.

While the potential benefits of data-driven decision-making in hotel revenue management are immense, challenges exist. Addressing data quality issues, navigating ethical considerations, and fostering seamless technological integration are critical for hotels to harness the true power of data in optimising revenue strategies while ensuring guest trust and compliance with regulatory frameworks.

Conclusion: Paving the Way Forward

The landscape of hotel revenue management is poised for continual evolution, driven by the transformative potential of data-driven strategies. As we look to the horizon, several trends and advancements stand out, reshaping the future of revenue optimisation within the hospitality industry.

1. Future Trends: The Evolution Unfolding

AI and Machine Learning Integration: The convergence of AI and machine learning will further refine revenue management strategies, enabling hotels to predict guest behaviours with unparalleled accuracy and automate decision-making processes.

Predictive Personalisation: Advancements in predictive analytics will facilitate hyper-personalisation, allowing hotels to anticipate guest needs and preferences in real time, crafting tailored experiences that exceed expectations.

Blockchain for Data Security: Blockchain technology may emerge as a game-changer, offering enhanced data security and transparency, addressing concerns regarding guest data privacy and ensuring trust.

2. Summarising Benefits: The Power of Data Unleashed

Leveraging data for revenue optimisation yields a multitude of benefits that reverberate throughout the hotel ecosystem:

Maximised Revenue Potential: Data-driven strategies enable hotels to capture revenue opportunities by dynamically adjusting pricing, optimising inventory, and predicting demand with precision.

Enhanced Guest Experiences: Personalisation based on data insights cultivates meaningful guest relationships, fostering loyalty, satisfaction, and advocacy, translating into long-term revenue streams.

Agility and Adaptability: Data empowers hotels to respond swiftly to market shifts, enabling agile decision-making and proactive strategies that navigate complexities with ease.

Operational Efficiency: Through streamlined processes and optimised resource allocation, data-driven revenue management enhances operational efficiency, reducing costs while maximising profitability.

In essence, the symbiotic relationship between data and revenue management in hotels heralds a new era of strategic prowess and guest-centric excellence. The future promises a landscape where data-driven insights shape not only revenue strategies but also redefine the very essence of hospitality experiences. By embracing technological advancements, addressing challenges, and upholding ethical standards, hotels can harness the transformative power of data to chart a course towards sustained success in an ever-evolving industry.

Choose a Social Network!

The social network you are looking for is not available.

Close

Terms & Conditions

The following are terms of a legal agreement ("Agreement") between you and HotelExecutive. By accessing, browsing and/or otherwise using this web site, HotelExecutive, you acknowledge that you have read, understood and agreed to be bound by these terms and conditions, and to comply with all applicable laws and regulations, including U.S. export and re-export control laws and regulations. If you do not agree to all of these terms and conditions, you may not access, browse and/or use HotelExecutive. The material provided on HotelExecutive is protected by law, including, but not limited to, United States copyright law and international treaties.

These terms of access apply to your access to and use of HotelExecutive and do not alter in any way the terms and conditions of any other agreement you may have with HotelExecutive for products, software, services or otherwise, unless otherwise directed by HotelExecutive. If you breach any of these terms and conditions, your authorization to use HotelExecutive automatically terminates and you must immediately destroy any downloaded or printed materials and discontinue use of any hyperlinks to HotelExecutive.

1. USE RESTRICTIONS

Copyright. All Site materials, including, without limitation, text, pictures, graphics and other files and the selection and arrangement thereof are copyrighted materials of HotelExecutive © 1996-2016, ALL RIGHTS RESERVED, or by the original creator of the material. Permission is granted to display and use the materials on HotelExecutive for private individual, educational and noncommercial use only, provided you do not modify the materials and that you retain all copyright and other proprietary notices contained in the materials. You may not, however, distribute, copy, reproduce, display, republish, download, or transmit any material on HotelExecutive for commercial use without prior written approval from HotelExecutive. You may not "mirror" any material contained on HotelExecutive on any other server without prior written permission from HotelExecutive. Any unauthorized use of any material contained on HotelExecutive may violate copyright laws, trademark laws, the laws of privacy and publicity and communications regulations and statutes.

Trademarks

The trademarks, service marks, trade names and logos (the "Trademarks") used and displayed on HotelExecutive are registered and unregistered Trademarks of HotelExecutive. In addition, all page headers, custom graphics, icons and scripts are service marks, trademarks and/or trade dress of HotelExecutive, and may not be copied, imitated or used, in whole or in part, without the prior written permission of HotelExecutive. You acknowledge that the Trademarks used and displayed on HotelExecutive are and shall remain the sole property of HotelExecutive or the Trademark owner. Nothing in this Agreement shall confer any right of ownership of any of the Trademarks in you. Further, nothing in HotelExecutive shall be construed as granting, by implication, estoppel or otherwise any license or right to use any Trademark used or displayed on HotelExecutive, without the express written permission of HotelExecutive or the Trademark owner. The misuse of the trademarks displayed on HotelExecutive, or any other Content on HotelExecutive, is strictly prohibited.

Hyperlinks

You are granted a limited, nonexclusive right to create a hypertext link to HotelExecutive provided that such link is to the entry page of HotelExecutive and does not portray HotelExecutive or any of its products or services in a false, misleading, derogatory, or otherwise defamatory manner. This limited right may be revoked at any time for any reason whatsoever. You may not use framing techniques to enclose any Company trademark, logo or trade name or other proprietary information including the images found at HotelExecutive, the Content of any text or the layout/design of any page or any form contained on a page without HotelExecutive's express written consent. Links to third party sites on HotelExecutive are provided solely as convenience to you. If you use these links, you will leave HotelExecutive. HotelExecutive has not reviewed all of these third party sites and does not control and is not responsible for any of these sites, their Content or their policies, including, without limitation, privacy policies or lack thereof. HotelExecutive does not endorse or make any representations about third party sites or any information, software or other products or materials found there, or any results that may be obtained from using them. If you decide to access any of the third party sites linked to HotelExecutive, you do so entirely at your own risk. You acknowledge and agree that HotelExecutive shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by, or in connection with the use of or reliance on any such third party sites.

Downloadable Materials

Any software, including codes or other materials that are made available to download from HotelExecutive, is the copyrighted work of HotelExecutive and/or its suppliers and affiliates. If you download software from HotelExecutive, use of the software is subject to the license terms in the software license agreement that accompanies or is provided with the software. You may not download or install the software until you have read and accepted the terms of the applicable software license agreement. Without limiting the foregoing, copying or reproduction of the software to any other server or location for further reproduction or redistribution is expressly prohibited unless otherwise provided for in the applicable software license agreement in the case of software, or the express written consent of HotelExecutive in the case of codes or other downloadable materials.

Limited Access

Except as otherwise expressly permitted by HotelExecutive, any access or attempt to access other areas of HotelExecutive computer system or other information contained on the system for any purposes is strictly prohibited. You agree that you will not use any robot, spider, other automatic device, or manual process to "screen scrape," monitor, "mine," or copy the Web pages on HotelExecutive or the Content contained therein without HotelExecutive's prior, express, and written permission. You will not spam or send unsolicited e-mail to any other user of HotelExecutive for any reason. You agree that you will not use any device, software or routine to interfere or attempt to interfere with the proper working of HotelExecutive. You agree that you will not take any action that imposes an unreasonable or disproportionately large load on HotelExecutive's infrastructure.

Additional Use Restrictions

You shall not post, transmit, e-mail, re-transmit or store material on or through any of the services provided by HotelExecutive (the "Services") which, in the sole judgment of HotelExecutive: (i) is in violation of any local, state, federal or non-United States law or regulation, (ii) is threatening, obscene, indecent, defamatory or that otherwise could adversely affect any individual, group or entity (collectively, "Persons") or (iii) violates the rights of any person, including rights protected by copyright, trade secret, patent or other intellectual property or similar laws or regulations including, but not limited to, the installation or distribution of "pirated" or other unauthorized photos or software products that are not appropriately licensed for use by you. You shall be responsible for determining what laws or regulations are applicable to its use of the Services. In addition, you may only use the Services in a manner that, in HotelExecutive's sole judgment, is consistent with the purposes of such Services. If you are unsure of whether any contemplated use or action is permitted, please contact HotelExecutive at editor@HotelExecutive By way of example, and not limitation, the following uses described below of the Services are expressly prohibited:

A. upload, post, e-mail or otherwise transmit any information, data, text, software, music, sound, photographs, graphics, video, messages or other materials (collectively, "Content") that is unlawful, harmful, threatening, abusive, harassing, tortious, defamatory, vulgar, obscene, libelous, invasive of another's privacy, hateful, sexually intolerant or racially, ethnically or otherwise objectionable;

B. impersonate any person or entity, including, but not limited to, a Company official, forum leader, guide or host, or falsely state or otherwise misrepresent your affiliation with a person or entity;

C. forge headers or otherwise manipulate identifiers in order to disguise the origin of any Content transmitted through the Services or develop restricted or password-only access pages, or hidden pages or images (those not linked to from another accessible page);

D. upload, post, e-mail or otherwise transmit any Content that you do not have a right to transmit under any law or under contractual or fiduciary relationships such as inside information, proprietary and confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements;

E. upload, post, e-mail or otherwise transmit any Content that infringes any patent, trademark, trade secret, copyright or other proprietary rights of any party;

F. upload, post, e-mail or otherwise transmit any unsolicited or unauthorized advertising, promotional materials, "junk mail," "spam," "chain letters," "pyramid schemes" or any other form of solicitation;

G. upload, post, e-mail or otherwise transmit any material that contains software viruses, worms or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment;

H. interfere with or disrupt the Services or servers or networks connected to the Services, or disobey any requirements, procedures, policies or regulations of networks connected to the Services;

I. intentionally or unintentionally violate any applicable local, state, national or international law, including, but not limited to, regulations promulgated by the U.S. Securities and Exchange Commission, any rules of any national or other securities exchange, including, without limitation, the New York Stock Exchange, the American Stock Exchange or the NASDAQ, and any regulations having the force of law;

J. 'stalk' or otherwise harass another user of HotelExecutive or Company employee or official;

K. promote or provide instructional information about illegal activities, promote physical harm or injury against any group or individual, or promote any act of cruelty to animals. This may include, but is not limited to, providing instructions on how to assemble bombs, grenades and other weapons, and creating "Crush" sites; and

L. effecting security breaches or disruptions of Internet communication. Security breaches include, but are not limited to, accessing data of which you are not an intended recipient or logging into a server or account that you are not expressly authorized to access.

M. advertising to, or soliciting any user of HotelExecutive to buy or sell any products or services through the unauthorized or impermissible use of the Services. You may not transmit any junk email or chain letters to other users. If you breach this Agreement and send unsolicited bulk email, instant messages or other unauthorized commercial communications of any kind through the Services, you acknowledge that you will have caused substantial harm to HotelExecutive, but that the amount of such harm would be extremely difficult to ascertain. As a reasonable estimation of such harm, you agree to pay HotelExecutive $500 for each such unsolicited email or other unauthorized commercial communication you send to each user through the Services.

2. DISCLAIMER WARRANTY

HotelExecutive, including all software, functions, materials, and information is provided "as is" without warranties of any kind, either express or implied. HotelExecutive disclaims all warranties, express or implied, including, but not limited to, warranties of non-infringement and implied warranties of merchantability, fitness for a particular purpose, non-infringement, title, merchantability of computer programs, data accuracy, system integration, and informational Content. HotelExecutive does not warrant or make any representations regarding the operation of HotelExecutive, the use, validity, accuracy or reliability of, or the results of the use of the materials on HotelExecutive or any other sites linked to HotelExecutive. The materials of HotelExecutive may be out of date, and HotelExecutive makes no commitment to update the materials at HotelExecutive. HotelExecutive does not and cannot guarantee or warrant that the files available for downloading from HotelExecutive, if any, will be free from infection, viruses, worms, Trojan horses, or other code that manifest contaminating or destructive properties. HotelExecutive does not warrant that HotelExecutive, software, materials, products, or services will be uninterrupted or error-free or that any defects in HotelExecutive, software, materials, products, or services will be corrected.

3. LIMITATION OF LIABILITY

In no event will HotelExecutive, its suppliers or other third parties mentioned at or in HotelExecutive be liable for any damages, including, without limitation direct, indirect, special, incidental, or consequential damages, damages resulting from lost profits, lost data or business interruption arising out of relating to the use, inability to use, or resulting from the use of HotelExecutive, any web sites linked to HotelExecutive, the materials, software or other information contained in any or all such sites, whether based on warranty, contracts, statutes, regulations, tort (including but not limited to, negligence) or any other legal theory and whether or not advised of the possibility of such damages. If your use of the materials or information from HotelExecutive results in the need for servicing, repair or correction of equipment or data, you assume all costs thereof.

4. REVISIONS TO THIS AGREEMENT

HotelExecutive may revise this Agreement at any time without notice by updating this posting. By using HotelExecutive you agree to be bound by any such revisions and should therefore periodically visit HotelExecutive and page to determine the then current Terms of Access and Use conditions of use to which you are bound.

5. TRANSMISSIONS

Any idea you transmit to or post on HotelExecutive by any means will be treated as non-confidential and non-proprietary and may be disseminated or used by HotelExecutive or its affiliates for any purpose whatsoever, including, but not limited to, developing and marketing products. You are prohibited from posting or transmitting to or from HotelExecutive any unlawful, threatening, libelous, defamatory, obscene, scandalous, inflammatory, pornographic, profane material or any other material, including but not limited to any material that could give rise to any civil or criminal liability under both domestic and international law.

6. YOUR WARRANTIES

You warrant to HotelExecutive that:

You are the sole owner of all rights in the materials posted or uploaded by you (including all related copyrights) or that you have the absolute right to license their use as provided in this section. While you will retain ownership of the copyright in the materials posted or uploaded by you, you agree that all materials posted or uploaded by you shall become part of a database, and that HotelExecutive will own the compilation copyright in that database. In addition, you hereby grant HotelExecutive a perpetual, worldwide, irrevocable license to use, reproduce, modify, publish, publicly perform, publically display and distribute such materials, and portions of such materials and any derivative works created from such materials, in print, electronic and other media, by any means now known or developed in the future. We may sublicense all of our rights and licenses or assign them to third parties. Neither HotelExecutive nor any third party using the materials in accordance with this section will be obligated to pay you any royalties or other compensation for use of the materials.

You will comply with these Terms of Access and Use including, without limitation, the USE RESTRICTIONS set out in Section 3 above;

You agree to indemnify and hold HotelExecutive harmless from any claim or damages (including any legal fees in relation to same) made by a third party in respect of any matter in relation to or arising from your use and/or membership arising from any breach or suspected breach of these Terms of Access and Use by you or your violation of any law or the rights of any third party.

7. ACTIONS WE MAY TAKE AT OUR SOLE DISCRETION

HotelExecutive may take any or all of the following actions at our sole discretion:

Remove any member profile (including photographs) or other material that, in our sole discretion may be inappropriate or we suspect to be illegal, subject us to liability or which may violate these Terms of Access and Use or where required to do so by law;

Issue members with verbal or written warnings and may take such further action as we deem appropriate if such warnings are not heeded;

Suspend or terminate a member's access to the members's area of HotelExecutive or a member's account without notice at any time;

Inform the appropriate authorities and provide them with information regarding any suspected illegal activity; or bring legal action against a member or other user of HotelExecutive in relation to any breach of these Terms of Access and Use or any illegal or suspected illegal activity.

8. GOOD SAMARITAN CONTENT AND COMPLAINT PROCEDURES POLICY

A. Policy

We have provided opportunities for you to contribute Content to our Site. It is our policy, however, not to allow any Content which may constitute intellectual property infringement; violations of federal, state, or local law; obscene or defamatory material, or may otherwise be unacceptable or inappropriate. Upon learning of such Content, we will attempt, and you hereby give HotelExecutive the right, to delete, edit, remove, disable, change, or restrict access to or the availability of the Content, which in our sole discretion, is otherwise unacceptable or objectionable. We may or may not notify you about what action we take with respect to the disputed Content. The provisions of this section are intended to implement this policy but are not in any way intended to impose a contractual obligation upon us to undertake, or refrain from undertaking, any particular course of conduct.

B. Complaint Procedures

If you believe that another user or other third party has posted Content which violates this policy or specifically the USE RESTRICTIONS in Section 3 above, you may notify HotelExecutive via e-mail at editor@HotelExecutive . In order to allow HotelExecutive to respond effectively, please provide HotelExecutive with as much information as possible in your correspondence, including: (1) the nature of the right infringed or violated (including any applicable registration numbers of the federally-registered intellectual property allegedly infringed), if applicable, or the unacceptable or inappropriate Content; (2) all facts which lead you to believe that a right has been violated or infringed, if applicable; (3) the precise location where the offending Content is located; (4) any grounds to believe that the party or user which posted the Content was not authorized to do so or did not have a valid defense (including the defense of fair use), if applicable; (5) if known, the identity of the party or user who posted the infringing, offending, or inappropriate Content; and (6) in the case of alleged copyright infringement claims, information sufficient to identify the work and your claims to ownership.

C. Indemnification/Waiver of Certain Rights

By contacting HotelExecutive and complaining of an alleged violation, you agree that the substance of your complaint shall constitute a representation made under the pains and penalties of perjury pursuant to the laws of the State of California. In addition, you agree, at your own expense, to defend and indemnify HotelExecutive and hold HotelExecutive harmless against all claims which may be asserted against HotelExecutive, and all losses incurred, as a result of your complaint and/or our response to it.

D. Waiver of Claims and Remedies

We expect all users of our Site to take responsibility for their own actions and cannot and do not assume liability for any acts of third parties which take place at our Site. By utilizing the Good Samaritan procedures set forth herein, you waive any and all claims or remedies which you might otherwise be able to assert against hotelexecutive under any theory of law (including, but not limited to, intellectual property laws) that arise out of or relate in any way to the content at hotelexecutive or our response, or failure to respond, to a complaint.

E. Investigation/Liability Limitation

You agree that we have the right, but not the obligation, to investigate any complaint received. By reserving this right, we do not undertake any responsibility in fact to investigate complaints or to remove, edit, disable or restrict access to or the availability of Content. We will not act on complaints that we believe, in our sole discretion, to be deficient, incomplete, or otherwise questionable. If you believe that Content remains on HotelExecutive which violates your rights, Your sole and exclusive remedy shall be against the user or other party responsible for said content, not against HotelExecutive. your sole and exclusive remedy against HotelExecutive shall be to terminate your use of HotelExecutive and service.

Digital Millennium Copyright Act Compliance. As set forth in Subsection (b), you must contact our agent if you believe that a work protected by a U.S. Copyright which you own has been posted on our Site without authorization or that our Site, in some material way, contributes to its infringement. It is our policy in appropriate circumstances, if possible, to terminate the access rights of repeat infringers and other users who use HotelExecutive in an inappropriate or objectionable manner.

9. COOPERATION WITH LAW ENFORCEMENT

HotelExecutive reserves the right to fully cooperate with any law enforcement authorities or court order requesting or directing HotelExecutive to disclose the identity or other information regarding any user or member alleged by any governmental entity to be using HotelExecutive or any Content or materials available in, at, through or in association with HotelExecutive in violation of any law or regulation, or in violation of this Agreement, including, without limitation, the posting of e-mail messages, or publishing or otherwise making available any such materials. By accepting this agreement you waive and hold harmless HotelExecutive from any claims resulting from any action by HotelExecutive during, or as a result of, its investigations, and from any actions taken as a consequence of investigations by either HotelExecutive or law enforcement authorities

10. APPLICABLE LAWS, VENUE, JURISDICTION & MANDATORY ARBITRATION

If any provision(s) of this Agreement is held by a court of competent jurisdiction to be contrary to law, then such provision(s) shall be construed, as nearly as possible, to reflect the intentions of the parties with the other provisions remaining in full force and effect. HotelExecutive's failure to exercise or enforce any right or provision of this Agreement shall not constitute a waiver of such right or provision unless acknowledged and agreed to by HotelExecutive in writing. The section titles in this Agreement are solely used for the convenience of the parties and have no legal or contractual significance. This Agreement may be assigned in whole or in part by HotelExecutive. This Agreement may not be assigned in any manner by you without the express, prior written permission of HotelExecutive.

Any and all disputes or controversies of any kind, including but not limited to any performance, duty, obligation or liability arising under or related to this Agreement which are not first resolved informally, shall be determined by binding arbitration in San Francisco, California, in accordance with the rules of the American Arbitration Association. The final award in any such arbitration proceeding shall be subject to entry as a judgment by any court or competent jurisdiction, provided that such judgment does not conflict with the terms and provisions hereof. The jurisdiction of the arbiter (or arbiters) with respect to legal matters shall be limited only by the statutory and common law of the State of California and the United States.

Notwithstanding the foregoing, any and all disputes, which the parties cannot informally resolve, regarding the scope of issues or matter with the jurisdiction of the arbitrator, shall be resolved by a separate dispute resolution process whereby HotelExecutive, in its sole discretion shall elect the dispute to be resolved by either (1) a court of competent jurisdiction in the State of California or (2) a panel of three new arbitrators.

This Agreement shall be governed by and construed in accordance with the laws of the State of California notwithstanding any conflict of laws provisions. You and HotelExecutive agree that the venue for all legal disputes, controversies, actions of any kind arising under or related to this Agreement shall be San Francisco, California. You and HotelExecutive further agree that in case of any litigation regarding this Agreement, you irrevocably and unconditionally (i) consent to submit to the exclusive jurisdiction of the state and federal courts in the County of San Francisco, California for any litigation or dispute arising out of or relating to this Agreement, (ii) agree not to commence any litigation arising out of or relating to this Agreement except in the California Courts, (iii) agree not to plead or claim that such litigation brought therein has been brought in an inconvenient forum, and (iv) agree the California Courts represent the exclusive jurisdiction for all litigation relating to this Agreement.

11. MEMBERSHIP FEES

Hotel Business Review Subscriptions

If you choose to purchase a subscription, member subscription payments can be made in U.S. Dollars, as well as a variety of international currencies. Membership terms are Annual Recurring, and Monthly Recurring. The Annual Recurring subscription is an annual commitment and subscribers will be charged each consecutive billing cycle. Annual Recurring subscriptions can be cancelled after the first billing cycle and within 30-days of the billing date for a full refund. Monthly Recurring subscriptions are ongoing and subscribers will be charged each consecutive monthly billing cycle. Monthly Recurring subscriptions can be cancelled after the first month and within 7 days of the monthly billing cycle for a full refund.

12. PAYMENT AUTHORIZATION

Payment for the services provided to you in, at, through or in association with HotelExecutive may be made by automatic credit card, debit card, direct debit, bankwire or Paypal and other approved payment means offered in, at, through or in association with HotelExecutive, and you hereby authorize HotelExecutive and its agents to transact such payments on your behalf.

You hereby authorize HotelExecutive's Internet Payment Service Provider to charge your credit card to pay for your membership to HotelExecutive. You further authorize HotelExecutive's Internet Payment Service Provider to charge your credit card for any and all purchases of products, services in association with HotelExecutive. You agree to be personally liable for all charges incurred by you in association with your access or other use of any content provided by HotelExecutive or any third party in association with HotelExecutive. You acknowledge and agree that your liability for all such charges shall continue after termination of your access or any type of membership arrangement with HotelExecutive.

In the event that you have chosen to have your membership automatically rebilled, unless and until you notify HotelExecutive that you wish to cancel or terminate your membership to HotelExecutive, you hereby agree and authorize HotelExecutive's Internet Payment Service Provider to automatically renew your membership to HotelExecutive on a continuing basis and to charge your credit card (or other payment means you have selected) to pay for the ongoing cost of your membership. You hereby further authorize HotelExecutive's Internet Payment Service Provider to charge your credit card (or other approved payment means you have selected) for any and all purchases of products, services and entertainment provided to in, at, through or in association with HotelExecutive.

13. PRIVACY POLICY

The following is the Privacy Policy for HotelExecutive

We can be reached via telephone, email, or online at our contact page. When you visit our site we do not log any information regarding your domain or email address. Information Sharing: We do not share user information with any third parties other than via press release distribution as described below.

Hotel Newswire is a newswire service that distributes press releases on behalf of our users. If you decide to submit a press release for distribution through our system we will transmit your entire press release including any personal information therein contained to our media contacts and online distribution points including search engines. This is the only redistribution of your information that we engage in. Your submission of press releases through our system indicates consent with this policy. The information we collect during your registration process is used to notify users about updates to our service and inform users of any special events hosted by Hotel Newswire. This information is not shared with other organizations for commercial or non-commercial purposes.

Cookies: Our system requires the use of cookies to enable the user to log back into our website to access information from the newswire, without having to log in each time using the required username and password.

If you do not want to receive email from us in the future, please let us know by following instructions included in our communication with you. Users who supply us with telephone numbers online may receive telephone contact from us regarding their account, or informing them of new products and services available on the HotelExecutive website. If you do not wish to receive such telephone calls, please edit your account and remove your phone number from your account profile. This can be done from your user account menu.

Ad Servers: We do not partner with or have any relationship with any ad server companies. From time to time, we may use customer information for new uses not previously disclosed in our privacy notice. If our information practices change at any time, we will post the policy changes to our website to notify you of these changes and provide you with the ability to opt out of these new uses. If you are concerned about how your information is used, you should check back at our website periodically.

Upon request we provide site visitors with access to all information (including proprietary information) that we maintain about them. Users can access this information by logging in to their account.

Security: We always use industry-standard encryption technologies while transferring and receiving user data exchanged with our site. We have appropriate security measures in place in our physical facilities to protect against the loss, misuse, or alteration of information that we have collected from you on our site. We do not store credit card information in our systems.

If you feel that this site is not following its stated information policy, you may contact us.

Andy De Silva How Does Sustainability and Innovation Work Hand-In-Hand in the Hospitality Industry?
    READ MORE
Robert Schnitz Ice Raids Have Changed Hotel Legal Guidance for Responding to Law Enforcement Inquiries - True or False?
    READ MORE
Alexander Mirza Envisaging the AI Hotel of the Future
    READ MORE
Samantha Markiewicz What Is Social Proof?... and How to Use it for Your Hotel
    READ MORE
Alfred  DuPuy Marketing Cuts: Short-Term Savings, Long-Term Brand Damage
    READ MORE
Alexandra Mason Insights from the YMCA's Approach to Training Frontline Employees
    READ MORE
Kristina Lara Beyond Branding: Designing Hotels That Tell Their Own Story
    READ MORE
Coming up in March 1970...