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Let's explore how market segmentation can become your hotel's greatest competitive advantage through five essential aspects: Understanding the basics Identifying profitable segments Customizing services Implementing targeting strategies Measuring success.
Customer Analysis In-depth information on your target market, including geographic, demographic, socioeconomic, psychographic, and behavioural segmentation details. It can also help you to keep up to date with the latest hotelmarketing trends to understand which are the types of guests who will be staying at your hotel.
An improvement in economic conditions is on the horizon with leisure and business tourism set to benefit, according to CBRE Director – Hotels and Leisure, Peter Hamilton. Following an initially strong recovery in demand following international border openings in mid-2022, demand growth slowed in most New Zealand hotelmarkets from early 2024.
To gain marketshare. If you rank for these keywords, you will have more search impressions or marketshare, i.e. your brand will be more visible on Google Search. Apply some of the tips above to your guest acquisition strategy and tell us how it goes at marketing@staah.com. Conclusion.
While wireless Internet access became available in the late 1990s, it wasn't until a few years after the turn of the millennium did it resurfaced and gained traction and popularity. Devices like the Kindle e-reader, iPho.
Shaking up the mid-scale hotelmarket, Hilton has announced the acquisition of Graduate Hotels for a cool $210 million. Graduate Hotels, known for its youthful vibe and focus on local university connections, boasts 33 properties across the United States and United Kingdom.
For hotelmarketers, navigating this new landscape means ditching the rearview mirror and focusing on the winding road ahead – a road packed with trends that demand both agility and vision. And competition intensifies – vacation rentals and alternative accommodations nibble at your marketshare.
Successfully refinancing the Sheraton New York Times Square’s loan is a key component of our strategy to help the hotel capture additional marketshare and ensure it remains a premier destination on a long-term path for continued success,” said Andrew Farkas, managing member/chairman/CEO, Island.
I left Inbound Marketing Conference 2024 feeling mentally exhausted by the amount of content and ideas I consumed, yet inspired by being surrounded by others looking for ways to keep finding ways to do our jobs better - for our companies, our clients and because of our passion for the field.
Ryan and Anne give tips on how to modernize your B&B’s marketing strategy and optimize your property’s presence online. They share several examples of how to leverage websites, social media, and online reputation in order to gain marketshare and grow online revenue. I'm your host, Ryan Embree.
Actively engaging with your content makes your hotel more memorable, making clicks a slightly more accurate representation of awareness than impressions. Impression Share/MarketShare Part of building awareness is cutting through the noise; impression share can help determine if you’re doing so successfully.
As you read this, you're likely content with your hotelmarketing and distribution strategy. In many cases, that is the difference between winning and losing, between premium marketshare and living at the bottom of the STR report rankings. At this moment in time, few have gravitated towards uncapped metasearch marketing.
Host Ryan Embree discusses how hotels can position themselves to capture marketshare and secure bookings from both engaged couples and wedding guests. Suite Spot Podcast · 95 - How to Attract Weddings to Your Hotel Episode Transcript Our podcast is produced as an audio resource. Listen now! I'm your host, Ryan Embree.
This enables businesses to approach their market in two distinct ways. The first is to capture an entirely new market, who has not yet engaged with your brand. This approach will not offer an immediate ROI, but can cultivate a larger marketshare reach for your brand and may ultimately lead to a higher return in the long run.
5 Must-Have HotelMarketing Channels Last week, in “ HotelMarketing in a Down Economy, ” GCommerce’s Founder, Scott van Hartesvelt , shared some important hotel booking pattern signals, what history has taught us about navigating a challenging economy, and how properties can come out stronger on the other side.
Furthermore, by receiving the reservation’s Virtual Credit Card (VCC) details in the PMS, hotels can streamline the payment process, improving operational efficiency and guest satisfaction.
According to a Market Analysis Report by Grand View Research , the global wellness tourism market size was estimated at $814.6 Further, North America dominates this marketshare at nearly 40%. So, how can hoteliers tap into this colossal market? billion USD in 2022 and is expected to reach $923.6
Ryan Embree: Welcome to Suite Spot, where hoteliers check in and we check out what's trending in hotelmarketing. And our webinars focused on managing communication strategies, optimizing marketshare, and offsetting group travel loss to ensure that we covered major industry areas that were negatively impacted by the pandemic.
Capturing more marketshare, or penetrating new markets was just not in their mindset. Especially in resort hotelmarkets, tour operators have for too long influenced hoteliers on how to run their business. Sorry, I just had to get this rant off my chest. But unfortunately, it is very typical for our industry.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in, and we check out what’s trending in hotelmarketing. Not looking at your local competition to see, maybe there’s some opportunities there to talk about what might be opportunities for you to take more marketshare. I’m your host, Ryan Embree.
Increase room ADR, sell more hotel rooms direct, increase you marketshare, reduce channel spend on OTAsfamiliar? The next article will look into top ways to allocate your marketing budget in 2025. The Golden 20% I seriously think the OTAs are like heroin for hotels and its a pretty tough habit to kick.
Ryan Embree: Welcome to Suite Spot, where hoteliers check-in and we check-out what’s trending in hotelmarketing. Why did you and your team decide to make this upgrade and, and create video content for hotels? They’re looking for opportunity to capture more marketshare. Thank you for joining us today.
Expanded market reach & revenue growth: Unique distribution strategies help businesses access new geographical territories, demographics, and partnerships. The resulting boost in marketshare directly translates to higher revenues.
Mobile’s share of online direct bookings is expected to grow over the next two years for both the US and Europe, but the report from Phocuswright highlights some concerns that independent hoteliers raise when it comes to competing for marketshare effectively with mobile technology. How do you pull ahead? With ‘micro-moments’.
By Nicole Di Tomasso According to Avison Young’s Canada HotelMarket Report, Canada’s hotel industry demonstrated a strong recovery in 2023, surpassing pre-pandemic levels in key performance indicators (KPIs) such as Average Daily Rate (ADR), Revenue Per Available Room (RevPAR) and occupancy.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in and we check out what’s trending in hotelmarketing. We talked about this on this podcast about how to attract Gen Z and how to capture marketshare from Gen Z travelers. Before republishing quotes, we ask that you reference the audio.
Market Penetration Index or MPI In order to compete in the market with your hotel property and services it is very important for a hotelier to find out how their hotel stands in the domestic market. The result you obtain : if it is more than 100 this shows that you have a dominance on the market.
It encompasses everything from the hotel’s name, logo, and tagline to its overall atmosphere, service, and guest experience. A strong hotel brand builds trust, loyalty, and a lasting impression, ultimately driving revenue and marketshare. While branding builds a strong foundation, marketing brings in the customers.
Ryan Embree: Welcome to Suite Spot, where hoteliers check-in and we check out what’s trending in hotelmarketing. This is Travel Media Group Marketing Director and host of the Suite Spot, Ryan Embree. Before republishing quotes, we ask that you reference the audio. I’m your host, Ryan Embree.
Indeed we believe that this change presents a tremendous opportunity for smart hotels to gain marketshare and win new customers, in large part because many in our industry will be caught flat-footed. They’ll continue their marketing behaviors unchanged while wondering why they’re getting their butts kicked all of a sudden.
Following best practices and a well-thought-out strategy is the only way to unlock the full potential of revenue for your hotel , with benefits including: Claim your fair marketshare: with more hotels forecasted to open every year , gaining a fair marketshare will become more difficul t each year.
Ryan Embree: Welcome to Suite Spot, where hoteliers check-in and we check out what’s trending in hotelmarketing. How do you reach travelers digitally and make sure you’re in the best position to capture more marketshare? You know, like we said, that guest experience is truly crucial to marketshare.
Ryan Embree: Welcome to Suite Spot, where hoteliers check-in and we check-out what’s trending in hotelmarketing. Before republishing quotes, we ask that you reference the audio. I’m your host, Ryan Embree. Hello everyone, and welcome to another episode of The Suite Spot. This is your host, Ryan Embree.
It’s important to note that a luxury travel brand name does not sell itself; it must pair its roster of services with a robust luxury travel marketing strategy to meet customers where they are and stay ahead in the rat race. Top 5 Luxury Hotel Brands Here’s a list of the most luxurious hotel brands for you to check out.
It can also be used as part of your marketing strategies to highlight the features guests love in hotelmarketing campaigns. Guest feedback data can be used to understand guest sentiment, identify trends and patterns, and prioritize the improvements that will bring the greatest benefits to guest satisfaction and loyalty.
of marketshare and a revenue of USD 461.65 Multigenerational Travel & Grand Gatherings Another two travel trends which have leaked into the luxury travel market include the increase in multigenerational family holidays and the newer concept of Grand Gatherings.
If they’re leaving good reviews and talking about your hotel’s unique offerings, it means your USP is making them happy. MarketShare : Compare how well your hotel is doing compared to others in your area. If your USP is a hit, you’ll see your hotel outshining the competition.
Ryan Embree: Welcome to the Suite Spot where hoteliers check in and we check out what’s trending in hotelmarketing. And they were trying to maybe steal some of that marketshare. Before republishing quotes, we ask that you reference the audio. I’m your host, Ryan Embree. Hello everyone.
Ryan Embree: Welcome to Suite Spot, where hoteliers check in and we check out what’s trending in hotelmarketing. And Travel Media Group certainly is here to assist for any of those hotels, hotel groups and brands that are looking to do that. Before republishing quotes, we ask that you reference the audio.
If you’ve been a loyal Google paid search advertiser all these years and you’re not running Google Hotel Ads via metasearch advertising then you’re losing out on a very large portion of the Google hotel search ecosystem. One that could be driving a substantial amount of direct revenue for your hotel.
According to Statista research , revenue in the Travel & Tourism market is projected to reach US$184.50bn in 2024. Meanwhile, the largest Travel & Tourism market is the Hotelsmarket with a projected market volume of US$93.62bn in 2024.
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