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SEPTEMBERHotel Group Meetings: Uncommon Destinations

Wednesday September 18, 2019
Sherrif Karamat

Group Meetings Play a Critical Role in Community Building

Business events are more than just meetings, trade shows or conferences at hotels and convention centers. The $1.05 trillion industry is a platform for economic and social transformation in addition to driving organizational success. There's a powerful community legacy created by business events through social impact and job creation. And, there's a knowledge exchange that benefits us all. Discover how global business events with different purposes contribute to the greater good and how business events can tackle complex issues in our society.
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TRENDING THIS WEEK
Marcela Trujillo

A Sustainable Plan for Increasing ADR

Increasing ADR, in conjunction with appropriate occupancy levels, is an ever-present goal. Not only does this increase RevPAR, but gaining more revenue through ADR provides assets with increased profitability. Consistent application of the following proven techniques leads to consistent rate dominance. In this article, co-authors Marcelo Trujillo and David Beaulieu rely on their experience of more than 35 combined years to thoroughly analyze and explain the pathway to sustainable ADR to maximize a hotel's success.

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DAILY HEADLINES - Wednesday Sep 18, 2019
New Products & Services
BLLA Soft-Launches New Websites and Programs for Members
Hotel Openings & Acquisitions
Banyan Investment Group Acquires 89-Room Fairfield Inn & Suites by Marriott Peoria East in Illinois
Appointments & Promotions
Andaz Mayakoba Resort Riviera Maya Appoints Sylvia Smith as Director of Sales and Marketing
Business & Finance
Radisson Hotel Group Begins Roll-Out of Its New Global Responsible Business Training Program
Construction & Development
Mortenson Development Begins Construction 176-Room Hilton Garden Inn Madison Adjacent to University of Wisconsin – Madison
Business & Finance
Aimbridge Hospitality and Interstate Hotels & Resorts to Merge
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More from our online Library Archives...
Thomas Hazinski

What Event Planners Want - Analysis of Event Planner Selection Criteria

Anticipating and meeting event planner needs are key to closing the sale of group and meeting events. But, what criteria do event planners use when they select a venue and destination for their events? Your sales pitch often requires assumptions how an event planner will choose a destination. Assume no more. HVS surveys of 4,700 event planners from across the world provides insight into event planner needs. HVS identified the most important criteria event planners use when choosing their destination and highlighted the different criteria different types of event planners use when locating an event.
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Katie  Davis

Creative Meetings Through Food & Beverage

The ability to create memorable experiences and drive emotional connections with your customers is a differentiation strategy that works. It is our job to develop a differentiation strategy to create unique and memorable experiences for guests and meeting attendees. These experiences need to be genuine, and they need to be authentic. It is the only way to create an emotional connection, and what I have discovered is once these experiences become branded, once they become turn-key, it can back-fire on you. Once the experience is no longer authentic, it can be viewed as contrived or artificial, which goes against what you are trying to accomplish.
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Brian Bullock

The Rise of Urban Team Building

Last year, millennials surpassed Generation X to become the largest generation in the U.S. workforce. They also may be history’s most fickle generation. Two-thirds of millennials plan to leave their current organizations by 2020, according to a recent survey by Deloitte. Additionally, 44 percent said they would leave their current employers within the next two years if given the choice. So it’s not surprising that businesses are adjusting everything – from office space to company culture to the way business is conducted – to cater to millennial wants and needs. Companies have recognized that attracting and retaining top talent from this burgeoning generation is no joke.
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October 2019:
Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.


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