HOTEL BUSINESS REVIEW

October FOCUS: Hotel Revenue Management

October 2023

The future of hotel revenue management lies in the adoption of ever more sophisticated software and technology, especially as it pertains to forecasting and pricing. For revenue professionals, the Age of Big Data has arrived. Managers are utilizing systems that employ leading-edge algorithms and machine learning, along with business analytics and data visualization tools. These tools communicate complex information more effectively, allowing managers to understand the key components driving demand and revenue. They have the ability to analyze real-time external and internal data, produce reports, and integrate information - all on a single platform - in order to improve performance. Managers are also utilizing  geographic information systems (GIS) which incorporate geographic data into forecasting. GIS also help decision-makers identify information in a visual way that cannot be detected through traditional data analysis. The October issue of the Hotel Business Review will report on how some hotels are integrating Big Data into their revenue management strategies.

Run Date:   10/01/2023 - 11/04/2023
Editorial Deadline:   Wednesday, August 16, 2023
Advertising Deadline:   Wednesday, September 13, 2023

Review our 2023 Features Calendar for other editorial opportunities

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Coming up in February 2023...

Social Media: Tailor Made Content


Social media has evolved into an indispensable medium for the hospitality industry. It has forever altered how hotels communicate with their customers and it has redefined how advertising and marketing are conducted. Currently, the biggest social media platforms are Facebook, Twitter, LinkedIn, Pinterest, Instagram, Snapchat, YouTube and TikTok. Each has their own appeal and demographic. In order to reach the users of an individual social media platform, it is necessary for hotels to tailor their content to each platform's audience. For example, LinkedIn is more business-oriented so content might be directed to conference organizers, meeting planners, travel agencies, etc. Facebook has a more mature user base so they might be looking for family vacation packages, cultural experiences, or recreational sightseeing trips.  TikTok is popular with a younger audience who might want to know about concerts, sporting events, and gaming competitions, while Pinterest and Instagram focus on exquisite visuals and aesthetics. The February Hotel Business Review will document how some hotels are successfully integrating social media strategies into their operations.