Coaching relationships offer a pathway for personal and professional development. Many organizations expect their senior leaders and middle managers to coach their team members toward higher levels of performance, increased job satisfaction, personal growth, and career development. This internal coaching serves as an important employee retention tool as employees see a pathway for their career within the hotel, brand or company. More senior hotel executives can benefit from external business coaching from a professional coach. These relationships support an executive working on goals, strategies, and real-world, real-time issues that arise. This article focuses on the value of external coaching. READ MORE

The discount vs. reward debate is finally finished. Wherever discounting strategies work, a strategy that includes rewards will always work better. James Gancos, long-time hotelier and CEO of The Guestbook and Gopher, discusses how easy it is to drive RevPAR and market share with guest rewards while at the same time improving the bottom line. Gain an understanding of the powerful concept of rewards breakage and how it drives superior results. Learn why it's easier than ever to implement a guest rewards component to your revenue strategy, especially in light of clearly established customer preference of what matters most. READ MORE

The discipline of revenue management in hospitality has evolved tremendously in the last 30 years. Rapidly changing consumer buying behavior has forced today's revenue managers to be extremely resourceful. The question though is whether your revenue manager is a first, second or third generation revenue management professional. And the answer is, if they are not third generation, your hotel is leaving money on the table. So how do you evaluate where your revenue manager fits in this evolution? There is one fundamental and pervasive element to examine, and that is the relationship between the revenue manager and the digital marketer. READ MORE

The landscape of the hotel revenue management is changing, requiring a shift in training and choosing the next generation of revenue leaders and how they operate. One of the critical elements of efficient revenue management is sufficient communication between revenue leaders and those that aren't as interested in translating data. Another is getting into the habit of applying the concepts of revenue management to all revenue streams for maximum profitability. To achieve total success there must also be a risk taken, and if done correctly, Hotel Revenue Management could elevate the entire hotel industry to new heights. READ MORE

For years and still today, RevPar index is the accepted, and practically the only, metric for measuring Revenue Management performance. There is latency in receiving Smith Travel® data, and there are limitations on how granular you can dissect the data. What if you could mine your own rich booking data to develop much deeper insights into how your hotel is performing? These insights go way beyond how you stack up to the competition. It can also identify missed revenue opportunities for each hotel including where you are performing well, but it can uncover how much better you could be doing. READ MORE