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Customers Come First When Making Technology Decisions

Duetto Research Blog 19 March 2018
Seven trending hotel news stories that will impact your hotel Revenue Strategy.

Revenue Strategy Requires a Team, Not a Hierarchy

Duetto Research Blog 16 March 2018
Teamwork is the key to efficient operation of a hotel or casino, with each staff member understanding his or her role and how it complements and backstops the roles of other associates. It takes a team, but it also requires a mind-set among all team members to work together, not at odds with each other. Sometimes, the lines of authority become blurred, often with less-than-ideal results. Such is sometimes the case with the revenue management function in a hotel, or even a management or brand company. Revenue management is a relatively new hotel industry discipline and has yet to find a universally accepted spot in the hotel management landscape. Newer still is Revenue Strategy, which requires a cultural change across the organization to get the revenue department collaborating closely with operations, sales and marketing to work together toward shared profitability goals. At some properties, revenue managers report to the rooms department executive. Sometimes they report to the director of sales or director of marketing. And while that seems to make some sense — after all, revenue management is a hybrid function between sales and marketing — such a structure can create inherent conflicts that can ultimately hurt every hotel’s stated business mission to maximize revenues and profits.

Iberia: Revenue Strategy for the World's Most Visited Tourism Destination

Duetto Research Blog 7 March 2018
If Iberia were a country it would be the most visited tourism destination in the world. Combined, Spain and Portugal attract more than 100 million visitors each year, surpassing that of France, the world’s No. 1 tourism destination, which attracted 88.9 million overseas arrivals in 2017. 2017 proved a stellar year for hotels in Spain and Portugal. Hotels in Spain saw RevPAR up 10.6% in the first three quarters of 2017 while Portugal saw RevPAR jump 18.3%.

ITB Culminates Dynamic Year for Hotel Revenue Strategy in DACH Region

Duetto Research Blog 1 March 2018
The countdown to ITB and IHIF in Berlin marks my first anniversary since joining Duetto as Director of the DACH market. Last year, I was definitely thrown in at the deep end, with the international travel trade fair coinciding with my first week on the job! In the past year, I’ve grown in my understanding of the ideal hotel Revenue Strategy, and so has the DACH region, which makes next week’s conferences so exciting for me. I’m looking forward to seeing hoteliers I’ve come to know well and to learning about what’s new in hotel technology to address the disruption we’re seeing in distribution from the likes of Expedia, Booking.com and Airbnb.

Driving Revenue Efficiencies Through Hotel Technology

Duetto Research Blog 22 February 2018
What are the components of the optimal hotel technology stack? How can these benefit your business? And what is next on the horizon? These and other hot topics came up for discussion at last week’s Revenue Management 3.0 – Where Next? conference, held in London. Professor Dimitrios Buhalis, Head of the Department of Tourism and Hospitality and Director of the eTourism Lab at Bournemouth University, led the discussion. Panellists who joined him included Duetto’s Managing Director, EMEA, Michael McCartan; David Turnbull, Co-Founder and CCO, SnapShot; and Andrew Metcalfe, Chief Technology Officer at Guestline.

Spanish Gold: How High Demand is Pushing RevPAR

Duetto Research Blog 15 February 2018
Based in Spain, Palladium Hotel Group has been operating for more than 50 years, with a portfolio that spans Europe, Brazil and the Caribbean. The company manages 50 hotels worldwide under five brands: Palladium Hotels & Resorts, Fiesta Hotels & Resorts, Ushuaïa Unexpected Hotels, Only You and Ayre Hotels. It also operates the Hard Rock Hotels brand under license in Spain. In Ibiza, where Palladium has the most of its vacation properties, RevPAR numbers have seen double-digit growth for the past five years. We caught up with Diego Fernández Pérez De Ponga, Corporate Revenue Manager at Palladium Hotel Group, responsible for Palladium Hotels & Resorts, Fiesta Hotels & Resorts, Ushuaïa Unexpected Hotels and Hard Rock Hotels, to find out more about RevPAR growth in Spain, the group’s expansion plans in Iberia, and the importance of a distribution strategy that is open to all channels.

Years in the Making, Revenue Strategy's Moment Has Come

Duetto Research Blog 14 February 2018
Years before we started Duetto, Marco Benvenuti and I recognized that revenue management needed to transform if hotels and casinos wanted to keep up with the pace of change in hospitality. What we pictured as hotel Revenue Strategy has taken a lot of work to bring to life, but the industry has reached an inflection point where it’s all possible for any property. Revenue Strategy is a concept that was born from Marco and my days at Wynn when we were running the enterprise strategy team. We knew managing revenue the traditional way wasn’t enough. We wanted a comprehensive strategy that would encompass more than just pricing rooms, including distribution, hotel marketing and e-commerce.

Duetto Closes $80 Million Series D Financing Round Led by Warburg Pincus

Duetto Research Blog 14 February 2018
Duetto, hospitality’s only Revenue Strategy Platform, announced today the closing of an $80 million Series D financing round led by funds affiliated with Warburg Pincus, a leading global private equity firm focused on growth investing. The round is the largest ever non-acquisition investment in a software company serving the hotel industry.

A Clear Pathway to Increasing Direct Bookings

Duetto Research Blog 12 February 2018
Seven trending hotel news stories that will have an impact on your hotel Revenue Strategy. 1. HERE'S HOW TO INCREASE DIRECT BOOKINGS With hotel website conversation rates hovering at 2%, and online travel agency commissions ranging between 15% and 25%, hotel operators have a strong incentive to find ways to increase direct bookings through their The post A Clear Pathway to Increasing Direct Bookings appeared first on Duetto.

How Personalization Can Reduce Friction in the Booking Process

Duetto Research Blog 9 February 2018
It's easy to be dazzled by the customer-centric, technology revolution sweeping the hospitality industry. Artificial intelligence, machine learning and predictive analytics all possess a multitude of really cool capabilities. But the relationship between the data hotels can collect and how DORMs use that data is easily the most critical. Duetto's Chief Marketing and Strategy Officer The post How Personalization Can Reduce Friction in the Booking Process appeared first on Duetto.

Revenue Strategy Challenges for 2018 and Beyond

Duetto Research Blog 7 February 2018
Revenue Strategy in hotels is changing at a breakneck speed as technological advancements and market fundamentals shift to require a more analytical approach to hotel pricing, according to industry experts presenting at our latest webinar, ‘How To Build A Hotel Revenue Strategy’. Three industry leaders, including revenue consultants and hotel management experts, came together to provide insight on how to run a cohesive Revenue Strategy. Ally Dombey, Director of Revenue By Design and chair of HOSPA’s Revenue Management Community Committee, opened the webinar with her thoughts on how automation is changing the role of the revenue manager. As a precursor to the “Revenue Management 3.0 Where Next?” one-day conference, organised by Revenue By Design, Ally looked at how technology is proving the catalyst for change in the revenue management sphere. “We are seeing a big change in the role of revenue management, in terms of scope, and in terms of the interplay between other departments, in particular digital marketing. This is no longer the operational role of changing rates or managing inventory – this still plays a large role, it is the extension of the role strategically which has changed most over the past few, years, and moving forwards improvements in technology and its relative affordability is going to be the catalyst for greater change,” she said.

Data-Based Strategies Are What Power Revenue Strategy

Duetto Research Blog 5 February 2018
Seven trending hotel news stories that will have an impact on your hotel Revenue Strategy. 1. STRATEGY, NOT TACTICS SHOULD DRIVE REVENUE MANAGERS The wider use of data in pricing has changed the job from merely setting room prices and optimizing room inventory to one with a broader, more strategic mandate. The author says RMs should use the data they have at hand to “understand guests’ selection behavior, consumer psychology and their competitors’ strategies by analyzing various pieces of information.” While some of that key data resides in revenue management systems and in PMSs, RMs also need to access a variety of external data source—guest reviews, STR reports, supply pipeline information and more. By properly integrating various data sources RMs can be more strategic and more nimble in their rate and distribution decisions.

Opportunity 2018: How technology is changing the role of the revenue team

Duetto Research Blog 1 February 2018
2018 looks to be a challenging year for many in the hotel industry as markets continue to slow and competition increases. Hotels that can look ahead, adapt to the forecast and be agile in their approach will be the ones to win out. We caught up with Ally Dombey, Director of Revenue By Design and current Chair of HOSPA’s Revenue Management Community Committee, to get her thoughts and advice on the challenges that lay ahead, how technology can make a difference, and why the role of the revenue manager is changing.

Hotel Distribution: There's No Such Thing As a Free Lunch

Duetto Research Blog 31 January 2018
How long has it been since you had lunch with your OTA market manager? I used to really enjoy those lunches when I worked briefly as a market manager for Expedia. I got to know some really great revenue managers throughout the Midwest — Chicago, Detroit, Indianapolis — and I can honestly say I helped drive a lot of demand to hotels which, at that time in 2005, were rebounding from some hard profitability hits. I enjoyed analyzing the data and building reports for hotels, and then developing promotions that would convert well, particularly during need periods. Yes, we even optimized the sort order to shift share toward better partners. I was good at driving demand to hotels. I could assure my clients higher ADRs, because the higher the rate the more commission Expedia made as well.

Competitive Rates Power Online Conversions

Duetto Research Blog 29 January 2018
Seven trending hotel news stories that will have an impact on your hotel Revenue Strategy.

A New Approach to Lifetime Value of Guests

Duetto Research Blog 26 January 2018
Revenue managers spend a lot of time and resources (rightly so) trying to determine the lifetime value of particular guests. Perhaps a better strategy would be to shift their attentions in a slightly different way by seeking the lifetime value of certain segments of guests. Many RMs and others have specific formulas to calculate a guest’s long-term value: how often he or she will return to a hotel, what they typically spend on their room and in other areas of the hotel, the likelihood they’ll persuade others to visit the property, and more.

Cloud systems will revolutionise hotel technology

Duetto Research Blog 24 January 2018
Hotels that buy and keep their technology in boxes will soon find themselves with an out-of-date tech stack. The cloud is the future of hotel technology. That was the compelling message to come out of a Rethinking Hotel Technology panel discussion at the Revenue Strategy Forum in London. Moderated by Lee Hazlehurst, Head of News at Travel Weekly, the panel discussion brought together innovative hoteliers and technology consultants who navigated through the future changes and challenges in hotel technology. “Hotels tend to buy things in boxes and kept them in buildings. That has been a big barrier to the adoption of good modern technology, which you see in other industries,” said Nick Price, Founder of NetSys Technology and CIO of citizenM.

Passenger traffic surges at airports in Asia, Middle East

Duetto Research Blog 23 January 2018
Seven trending news stories that will have an impact on your hotel Revenue Strategy.

Continuous hotel investment boosts RevPAR growth

Duetto Research Blog 19 January 2018
The Iberian Peninsula enjoyed a buoyant year in 2017, thanks in part to tourism transference from other Mediterranean destinations affected by terrorist attacks and instability. This resulted in strong RevPAR for both Spain and Portugal. The ECM-MKG Destinations Observatory report for January to September 2017 showed that Spain enjoyed a 10.6% increase in RevPAR, while Portugal saw even higher gains with RevPAR up 18.3%. However, market instability due to the Catalan vote for independence, the ongoing Brexit negotiations, and the fact that markets such as Turkey and Egypt are starting to come back could present challenges for the Iberian market.

Europe's Hotels Cash In On New Year's Eve

Duetto Research Blog 9 January 2018
Seven trending hotel news stories that will impact your hotel Revenue Strategy.

Striving for Revenue Strategy Gold in Japan

Duetto Research Blog 3 January 2018
Hotels in Japan, along with all other tourism partners and industry friends, are looking ahead towards the fulfilment of one of tourism’s biggest prospects: the Olympics to be held in Tokyo in 2020. As with all cities that win sought-after hosting rights, Tokyo has long started up its tourism engine, just as the sporting fraternity is doing. In fact, the tourism industry has already begun to reap some benefits. In January 2016, the Japan National Tourism Organisation announced that a record 19.73 million foreign tourists visited the country in 2015, up a staggering 47.3% from the previous year.

UAE Hotels: How to price right and accommodate new tax laws

Duetto Research Blog 20 December 2017
On January 1, 2018, a 5% Value Added Tax (VAT) will be introduced on all hotel services, service charges and municipality fees for hotels in the UAE. This new consumption tax will be charged at every stage of the supply chain. It is expected that the new tax will generate $3.27 billion for the UAE Government within its first year, rising to $5.45 billion by 2019. Hospitality revenue in the UAE is reportedly forecast to reach nearly $10 billion by 2020. Yet, recent figures have shown revenue to be in decline. What will the additional 5% VAT charge mean for hotels in key markets such as Dubai and Abu Dhabi? According to data from STR, Dubai hotels saw a 14.8% decline in RevPAR to AED381.20 in September 2017. ADR dropped 10.6% to AED497.67 during that same month.

How the Internet of Things is Set to Revolutionise the Hotel Industry

Duetto Research Blog 15 December 2017
The hotel industry, like so many other business sectors, is on the cusp of profound change. Connectivity, artificial intelligence, the Internet of Things and the data all these new innovations produce are set to change the way hotels function, according to Bret Greenstein, VP of IBM Watson, Internet of Things. Presenting at the third annual Revenue Strategy Forum in London in early November, Greenstein noted that a forecasted 30 billion devices would be connected to the Internet by 2020, contributing to a 160-zegabyte datasphere by 2025. In a presentation filled with big figures and even bigger statements, Greenstein told the audience that the Internet would generate $1.29 trillion in added value by 2019. But how will all this impact hotels?

How Would Legalized Sports Betting Affect Casino Revenue Strategy?

Duetto Research Blog 12 December 2017
Seven trending gaming industry stories that will impact your casino Revenue Strategy. 1. Supreme Court Poised to Legalize Sports Betting in States that Want it Earlier this month, the Supreme Court heard oral arguments in the New Jersey sports betting case, in which leagues including the NFL, the NBA and Major League Baseball are seeking The post How Would Legalized Sports Betting Affect Casino Revenue Strategy? appeared first on Duetto.

3 Ways Middle East Hotels Can Prepare For a Downturn

Duetto Research Blog 7 December 2017
Since the turn of the century, several cities across the Middle East have grown to become opulent, luxury destinations for travellers from across the entire globe. But the same cities - which seemed almost immune to a downturn - are now experiencing RevPAR and ADR declines, some seeing double-digit drops year on year. The latest The post 3 Ways Middle East Hotels Can Prepare For a Downturn appeared first on Duetto.

Ruby Hotels Uses Innovation to Deliver 'Lean Luxury'

Duetto Research Blog 29 November 2017
Ruby Hotels is breaking new ground in German hospitality. The new hotel company was founded in 2013, and opened its first property in Munich in February 2017. The company's lean organisation structure enables it to concentrate on the essentials, delivering a contemporary, affordable form of luxury for the modern, cost- and style-conscious customers that it The post Ruby Hotels Uses Innovation to Deliver 'Lean Luxury' appeared first on Duetto.

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