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Hotel Newswire Top Pick

Insurance Coverage for Hotels & Resorts: Policies to Consider and Potential Pitfalls
By Dana Kravetz, Managing Partner, Michelman & Robinson, LLP

Insurance represents a significant cost of doing business for hoteliers. But too few truly comprehend the coverages they are paying for or why certain policies are needed at all. Which is why this overview of insurance and its role in hospitality-related risk management should come in handy. With an emphasis on the importance of adequate insurance coverage, and a straightforward explanation of the types of policies hoteliers should be in the market for - CGL, Worker's Comp, EPLI, Crime and Cyber, among them - the following primer for hotel and resort owners and operators is meant to clarify a subject that is oftentimes misunderstood. Read more.

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Coming up in June 2018...

Sales & Marketing: Opinions Matter

Hotel Sales and Marketing Directors manage a complex mix of strategies to attract and convert customers into guests. Part of their expertise includes an awareness of customer behavior during the reservation process, so they can make sure their hotel is favorably positioned. One such trend is the growing popularity of travel review sites. According to one recent survey, 61% of prospective customers consult online reviews in order to validate information about the hotel before making a purchasing decision. Another survey found that the average hotel customer reads between 6-12 reviews across 4-10 properties before making a final decision on where to stay. Similarly, other studies have shown that consumer reviews are a more trusted source of information for prospective customers than other kinds of marketing messaging. In fact, reviews are often considered to be as influential as price regarding whether a customer decides to complete a purchase or not. Plus, travel sites with the most reviews - including recent reviews from satisfied customers and thoughtful responses from staff - were also found to be the most appealing. So having positive reviews on a travel website is essential and can help to increase a hotel's conversion rates dramatically. Of course, there are all kinds of additional marketing strategies for sales and marketing directors to consider - the importance of video and the emergence of live streaming; the implementation of voice search; the proliferation of travel bots; and the development of Instagram as an e-commerce platform. The June Hotel Business Review will report on some of these issues and strategies, and examine how some sales and marketing professionals are integrating them into their operations.