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Seasoned hospitality executives Gadi Hassin, Lisa Zakharka and May Pendraat Kredner have joined forces to introduce a global hospitality management company specialising in experiential lifestyle hotels and hostels for todays digital nomads.
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.
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.
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.
First up is a point of sale system (POS), used to process check-in transactions; second is a CRM system , installed to help your team manage interactions with each guest and store their data for any future exchanges. Integrating a hospitality POS system with hotel management software is also a serious game-changer for hotelier efficiency.
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?
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.
“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.
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).
“We have a fantastic location, moments from the beautiful sandy arc of Rye Beach, but seemingly miles away in its own quieter ‘beach house’ ambience,” said Lisa Moloney, venue manager, The Keith. The post Opening soon: The Keith Motel is set to make its Mornington Peninsula debut next month appeared first on Hotel Management.
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? When I worked as a revenue manager in Vancouver, that was my strategy.
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.
What is a property management business plan? A property management business plan is a document created by property managers or business owners to outline strategies and goals for managing and growing a property management company. Table of contents How important is a property management business plan?
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?
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. Shimony didnt believe it was possible for a platform like this to exist.
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).
From pricing analysis to targetedmarketing, from occupancy rates to guest engagement, every hotelier knows that metrics are important – but how do you sort the interesting from the invaluable? Hospitality is awash with data. What to Do with the Hotel Data?
During peak holiday periods, consider adopting a revenue management system that factors in various parameters such as historical booking data, competitor pricing, local events, and even weather forecasts. This strategy not only secures bookings but also helps in revenue forecasting and inventory management.
According to an article by STAAH, a New Zealand-based technology company specializing in cloud-based channel management and booking engine for accommodation providers, no set formula for an optimal distribution mix applies to all hotels. Achieving the optimal distribution mix for a hotel is a complex task.
Advertisements HotelREZ also helps properties stand out through targetedmarketing including niche campaigns, consortia partnerships with pay-on-performance models, and exclusive corporate agreements.
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. It wasn’t out targetmarket, as they weren’t technology. When people make something their mission, s**t gets done.
The hotel sector is a major targetmarket for many businesses. The post AHICE Aotearoa draws top hotel executives to Christchurch appeared first on Hotel Management. L-R Tony Ryan (Trilogy Hotels), Luke Moran (LA Co.) Hotel issues have an inevitable impact on supplier businesses as well.
Integration with PMS & Channel Manager : A seamless tech stack makes everyones job easier. Limited Insights: No data means missed chances for personalized service and targetedmarketing. Upsell & Promo Tools: Drive more revenue per booking with add-ons and exclusive deals.
“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. Read this interview in the latest issue of HM.
Assess whether the program aligns with your hotel’s offerings and targetmarket. Explore the Latest Trends in Hotel Sales Interested in exploring the latest trends and strategies in hotel sales and event management , based upon insights from industry experts?
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.
Moving from merely managing hotel revenue to maximizing profit is a critical transformation that ensures your property's long-term success. This shift requires a comprehensive approach integrating cost control, strategic marketing, and top-notch guest services. Run targetedmarketing campaigns to attract high-value guests.
A lot of the target [market] was around project-focused corporate opportunity. The post Exclusive: Veriu Group CEO talks Collingwood success, mixed-use developments, office conversions and more appeared first on Hotel Management. Is it mostly corporate guests or are you seeing much on the leisure side? It is a mix.
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.
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.
Here’s what to include in your executive summary: Hotel concept: Briefly describe your hotel’s unique features, targetmarket, and overall vision. Marketing strategy: Highlight your key marketing initiatives, such as online advertising, social media engagement, or partnerships with travel agencies.
When it comes to luxury hospitality, every empty room represents a missed opportunity and mastering the art of revenue management is paramount. The role of revenue management in luxury hospitality At the core of revenue management lies the art of optimizing room rates and availability to maximize revenue.
This allows AirAsia Super App to present more cross-sell marketing opportunities and increase visibility for each hotel partner in reaching the right targetmarket.” The post Review: test driving AirAsia’s Superapp for business and leisure travellers appeared first on Hotel Management.
What is hotel inventory management? Hotel inventory management is the practice of ensuring your room inventory is sold efficiently and effectively for the best possible results. This means managing supply and demand to hit your desired occupancy rate while also maximising the revenue returns for your business.
What is revenue management consulting? Revenue management consulting is specialised expertise that a business can bring in to gain guidance on managing and optimising revenue. An investment in hotel revenue management services is therefore one that can quickly deliver an attributable return.
What is hotel management? Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. Successful hotel management is about being able to adapt and meet challenges within a range of roles and responsibilities.
Once you’ve gathered these insights, you can reference them directly while marketing your products to your ideal customers, creating a more personalized message and increasing the likelihood of customers converting. Suppose you sell a beauty product.
Hotelogix Hotel Management System Hotel market segmentation is essential for tailoring marketing strategies and enhancing guest experiences by identifying and targeting specific customer groups. Successful hotel growth heavily relies on understanding and catering to distinct market segments.
Introduction Revenue Management Systems (RMS) are the cornerstone of modern hospitality and travel industries. The Beginnings: 1970s and 1980s Origin in Airlines : The concept of Revenue Management originated in the airline industry post-deregulation. They primarily helped in setting room rates and managing reservations.
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.
Integration with PMS & Channel Manager : A seamless tech stack makes everyone’s job easier. Limited Insights: No data means missed chances for personalized service and targetedmarketing. Upsell & Promo Tools: Drive more revenue per booking with add-ons and exclusive deals.
In today’s competitive hospitality industry, managing bookings efficiently can make or break a hotel's success. For small and mid-size hotels, having the right OTA ( Online Travel Agencies ) channel manager is critical. What is a Channel Manager?
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