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Most hoteliers know that happy customers mean more business, so finding new ways to upgrade your guests stay is always a rewarding process. Integrating a hospitality POS system with hotel management software is also a serious game-changer for hotelier efficiency.
With all the changes impacting hoteliers so quickly—the need for hotels to do more with less, continuing pressures on margins, the rapid rise of AI—it’s time for new paradigm in revenue management, one rooted in scientific rigor, data integration and interdisciplinary collaboration. Amid the challenges, innovation remains a central theme.
Here, we outline ten essential best practices for creating and cultivating successful hotel proposals to increase your chances of winning more business opportunities, both now and in the future. Assess whether the program aligns with your hotel’s offerings and targetmarket.
We often see management companies investing heavily in front-of-house technology to enhance the guest experience and drive repeat business and revenues, Henrik Shimony, cofounder/ CEO, Reeco, and a former hotelier, told Hotel Business in an exclusive interview. We are excited to partner with them and support their growth.
By adopting a comprehensive suite of Amadeus solutions – including the iHotelier Central Reservations System , Website , and Guest Management Solutions (GMS) – B2 Hotels will deliver a personalized shopping and booking experience for guests from initial search right through to post-stay engagement.
Periods of high demanddriven by holidays, festivals, or local eventscan strain resources, impact guest satisfaction, and complicate revenue and maintenance management. Preparing Amenities for Increased Demand Leveraging Data Analytics for Peak Season Management 1. Also Read: Is Your Hotel Ready for the Peak Season?
The secret often lies in their ability to master market segmentation - a strategy that's becoming increasingly crucial in today's diverse hospitality landscape. Business travelers typically seek workspace-friendly rooms with fast Wi-Fi, while families require spacious accommodations with connecting rooms.
With a proven platform combining GDS connectivity, direct booking solutions, and seamless system integration, HotelREZ empowers hotels to access business and leisure travellers globally. Established in 2004, HotelREZ supports more than 2,800 independent hotels, apartments, and hotel groups in over 100 countries.
This article explores some of the ways you might already be positioned to tap into the wellness travel market. If you want to make this segment a core targetmarket, you can offer wellness retreats in-house or collaborate with local wellness experts to offer specialised treatments, workshops, or retreats from your property.
This issue is compounded by siloed teams: marketing has its own budget, and revenue managers typically control OTAs, leading to a lack of collaboration. The specific expertise required for effective marketing also makes it easier for hotels to collaborate with OTAs than to build and train an in-house team.
They simplify the often complex world of revenue management , giving you a reliable foundation to build upon as you grow your confidence in managing rates. Heres a breakdown to make it manageable: Operating costs: Ensure you cover fixed and variable expenses such as utilities, staffing, and maintenance.
This is a common issue for many businesses in the hospitality industry. The Winning Plan for Your Hotel To bring in more guests, you need a complete strategy that looks at different parts of your business. Let's explore some tried-and-true ways to make your place stand out in the busy hospitality market.
The distinction between business and leisure travel used to be clear. More than 60% of business travelers now add leisure time to their trips showing a big change in travel preferences. It goes beyond just tacking on a few extra days to a business trip; it represents a big change in how people think about travel for work.
When the economy is low, the first thing that most businesses want to save on is their marketing. HubSpot carried out a study that established the fact that the more customer engagement and bookings take place, the better a business focuses on content marketing ( HubSpot, 2023 ). Updates room availability in real time.
Theyre responsible for key areas such as staff management, guest satisfaction, and financial performance, all while aligning the hotels activities with broader business goals. The title can varysome properties use terms like hotel manager, lodging manager, or director of hospitalitybut the core responsibilities remain the same.
OK, so you have decided to realize your dream and become a hotel entrepreneur, so now you need to start writing your hotel business plan. The next step would be to write a hotel business plan. But until you finish your business plan, you will not be able to get the financing either. It’s like a road map to the opening.
From selecting the right location to managing construction and hiring staff, the pre-opening phase is about laying the groundwork. Integrate Your Rates and Inventory : Managing multiple OTA platforms manually can quickly become overwhelming, leading to errors like double bookings or inconsistent pricing.
Real estate investor, developer and manager Caliber has entered into a development rights agreement with an affiliate of Hyatt Hotels Corporation to develop 15 new Hyatt Studios hotels in the U.S. markets appeared first on hotelbusiness.com. The post Caliber to bring 15 Hyatt Studios to key U.S.
In the hotel business, repeat guests are gold. When thoughtfully designed and effectively managed, a loyalty program can directly boost revenue, enhance guest satisfaction , and strengthen your hotel’s brand. In the hospitality business, peer recommendations carry more weight than advertisements.
Ovolo Group is set to accelerate expansion plans with the launch a dedicated investment and asset management arm. The platform will enable the group to form joint ventures and strategic partnerships whilst recycling its own capital and enhancing its asset management functions. Founder and Executive Chairman, Girish Jhunjhnuwala.
TFE Hotels has signed a multi-property management agreement with New Zealand’s Heritage Hotels, which will see half of the Heritage portfolio refurbished and rebranded under the Adina and Rendezvous brands. TFE Hotels is set to establish a New Zealand Country Office in Auckland to support its growing presence in the market.
This reflects the growth of the company from simply an airline to “an investment holding company (CapitalA) with a portfolio of synergistic travel and lifestyle businesses that leverage data and technology”. The post Review: test driving AirAsia’s Superapp for business and leisure travellers appeared first on Hotel Management.
Hotel management is a complex and challenging task requiring business acumen and customer service skills. This means identifying who your targetmarket is, their needs and preferences, and how you can best serve them. For example, your targetmarket is mainly business travelers.
What is a hotel business plan? A hotel business plan is a comprehensive document that outlines your hotel’s goals, strategies, and financial projections. It’s a vital tool for any hotel owner or operator, whether you’re starting a new hotel, expanding an existing business, or improving your current operations.
What is a property managementbusiness plan? A property managementbusiness plan is a document created by property managers or business owners to outline strategies and goals for managing and growing a property management company. Goals should be specific, measurable and achievable.
“Our recent member survey showed just how important WHM visitors are to Australia’s tourism economy with half of businesses saying they are vital employees and more than half saying they are a vital visitor market,” said ATEC Managing Director, Peter Shelley.
Just as importantly, they need to pinpoint the right customers to target with those offerings. Finding your hotel targetmarket group segment is crucial to success, and it all starts with the type of events that your space is best suited for. Hotels and other venues have to be realistic about the things they can offer well.
A lot of the target [market] was around project-focused corporate opportunity. It’s a lot of relationship building in the local market. When I left Quest in 2018 and bought into the Veriu business, it was actually one of the first deals that we did, so it’s great to see it come to life. It is a mix.
What is Yield Management? Yield management is a pricing and revenue management strategy that is used to maximise business performance. For hotels, the ultimate aim of yield management is to increase revenue by leveraging the balance between supply (available rooms) and demand (guest bookings).
What is hotel revenue management? Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. What is the primary purpose of revenue management? Why is revenue management important for the hotel industry?
The hotel sector is a major targetmarket for many businesses. Hotel issues have an inevitable impact on supplier businesses as well. The post AHICE Aotearoa draws top hotel executives to Christchurch appeared first on Hotel Management.
At a glance: What is Hotel Inventory Management? Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Firstly, What is Hotel Inventory Management? These are managed as inventory and must be scheduled and priced accordingly.
Whether you accept transient or group business to your hotel is more than just a revenue management question. It’s also a risk management question. And what is the philosophy of the hotel, the ownership, the general manager, and other stakeholders? It depends on the market. How much are you willing to risk?
We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.
Wurzak Hotel Group has expanded its services to include third-party hotel management services for additional ownership groups in strategic markets. “We have historically focused on managing hotels for a select group of owners,” Jake Wurzak, co-CEO of Wurzak Hotel Group (WHG).
“We have a very ambitious target to triple the number of hotels from 80 to 250 by 2035. The majority of [new hotels] will be outside Japan, and Australia is one of the key targetmarkets. Japanese hospitality meets western management. I think inbound business will continue to grow in Japan. million in 2023]. “I
My boy Bob made it his mission to close a client that I had dismissed as not our targetmarket and not a good fit. He’s responsible for managing the account AND recruiting. Their business model was basically door to door sales for 100% commission only. When people make something their mission, s**t gets done.
As technology continues to advance, hotels have transformed the way they manage daily tasks and interact with guests. Property Management System (PMS) A Property Management System (PMS) is the heart of hotel operations, handling everything from reservations and check-ins to billing and room assignments.
Amazon advertising campaigns are a powerful tool for businesses to promote their products. Sponsored Products, Sponsored Brands, and Sponsored Display ads are some of the various advertising formats that marketers can use to target customers based on their search terms, interests, and behaviors.
Inspired by Japanese architecture and Indonesian culture, the gorgeous villa is expertly run by General Manager Wan Fikrie. Little Hotelier spoke with Wan about the property’s goals and the need to utilise market-leading software. One of the key benefits is being able to easily manage reservations and guest information,” explained Wan.
What is a hotel business? A hotel business is simply an establishment that offers guests a place to stay. No matter which definition you use, the ultimate goal of all hotel businesses is the same: to attract more guests, fill more rooms, and maximise the value of every booking. Here’s a basic list to get you started.
Selecting the right keywords can make your home-building business more visible…or invisible. Tools like SEMrush , Google Keyword Planner , Ahrefs , Google Trends , and AnswerThePublic can help you research keywords that are relevant to your targetmarket. After all, keywords are the backbone of any SEO home builder strategy.
It involves identifying target audiences, developing compelling offerings, selecting optimal distribution channels, and implementing effective promotional campaigns. It relies on data-driven planning and continuous performance measurement to achieve business objectives. As a local business, use that element to your advantage.
What is an Airbnb business plan? An Airbnb business plan is a formal document that details a roadmap and strategy for your property. It will also discuss factors like budget , targetmarkets, and brand vision. Your Airbnb business plan should be comprehensive but clear and easy to understand.
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