When beginning the search for a room, guests already have certain ideas of the class of hotel they'll consider, amenities that they expect, and the price they're willing to pay. They also have an idea of how the room will be used, special considerations they will require, and how they want the experience to play out. Hoteliers need to be able to anticipate these guest expectations, even though the value perception for one guest is totally different than another, to be able to not only meet them but exceed them, and to align prices with the potential guest's budget. READ MORE

Outsourcing components of hotel operations is very much location-driven, property-specific and varies based on Ownership's investment objectives. So, while outsourcing might not be the solution for every hotel at this point in the cycle, an astute asset manager or operator should evaluate all opportunities to enhance profitability. When pursuing the employment of a third-party, performance should be closely monitored, with transparent lines of communication between owner and operator to maximize guest satisfaction. READ MORE

A decade ago it might have been socially acceptable to swim with dolphins in a hotel pool. But those days are gone. Now posting a holiday pic posing with Flipper is hugely controversial. Just ask reality TV star Kim Kardashian, who found herself in hot water after swimming with dolphins in Mexico. Or Real Housewives' Bethany Frankel, who copped a wave of social media criticism for visiting Atlantis Paradise Island's Dolphin Cay in August. READ MORE

Every year, it seems as though the hospitality industry faces more competition, new opportunities to leverage their data, and difficult organizational challenges to overcome to remain competitive in a hypercompetitive marketplace. The popularity of the sharing economy, dominating OTAs and a growing generation of often-puzzling consumers all give pause to hotels as they strategize for a more profitable future. Hotels have been feeling the heat from OTA competition for several years, causing many organizations to double down on their efforts to drive more direct bookings. Revamped loyalty programs, refined marketing campaigns and improvements to brand websites have all become primary focuses for hotel brands looking to turn the tables on their online competition. READ MORE

Revenue management tends to be one of the most challenging hospitality disciplines to define, particularly due to the constant evolution of technology. Advancements in data processing, information technology, and artificial intelligence provide our industry with expanded opportunities to reach, connect, and learn from our guests. Ultimately, the primary goals of revenue management remain constant as the ever-evolving hospitality industry matures. We must keep these fundamentals top of mind, while proactively planning for the tighter targets that lay ahead. That said, how can we embrace these innovations, operate under constricted parameters, and learn from the practices used today to achieve our same goals moving forward? READ MORE