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  • Next Event

    HITEC EUROPE 2019

    Hospitality Industry Technology Exposition & Conference

    April 10–11, 2019
    Palau de Congressos
    Palma, Mallorca - Spain

  • Upcoming Event

    HITEC MINNEAPOLIS

    Hospitality Industry Technology Exposition & Conference

    Minneapolis Convention Center

    June 17-20, 2019

Hotel Recruiting Obstacles: Budget, Brand Reputation, and Location

Hotel Business Review by hotelexecutive.com 16 December 2018
Every property, management company and travel tech company (and really any organization) has recruiting challenges to overcome. While no two properties are exactly alike, there are commonalities that tend to appear, and can be lumped into three buckets: Budget, Brand and Location.

What Subscription Models Tell Us About Driving Loyalty and Revenue

Hotel Business Review by hotelexecutive.com 9 December 2018
Consumers are subscribing to an ever-growing diverse set of categories and services – and at greater rates. There is easy access to everything from meal delivery kits to clothing and beauty products. Several automobile companies are even testing and making progress on their own subscription-based models including Porsche, Volvo and Mercedes. But gaps do remain in many industries jumping to offer and capitalize on subscriptions.

Big Data and Advanced Technologies: What Role for Frontline Staff?

Hotel Business Review by hotelexecutive.com 2 December 2018
Call it a sign of maturation mixed with puzzlement. We are morphing quickly along a seemingly inevitable path from the Information Age to a Big Data and AI (Artificial Intelligence) one. As we do, more and more observers are expressing concern over how entities of all sizes will manage the incredible amounts and constant stream of data that are now made available to us - as frontline operators; as property and asset managers; as human resources and other administrators; and as owners and investors.

The Changing Landscape of Water: How to Save On Hotel Water Demands and Expenses

Hotel Business Review by hotelexecutive.com 25 November 2018
Across the United States, fresh water supplies are reaching sustainable limits. Factors such as steadily increasing populations, relocation of people to water-strained regions, escalating irrigation demands, and climatic events are combining to strain our nation's water resources. Readily available water supply sources have largely been allocated, so the shift toward water conservation and development of alternative sources to meet increasing demands is widespread. State and local regulations to protect the natural resource and limit demands are also on the rise.

Room Pricing: Using Relevant Data and Machine Learning for Precise Pricing

Hotel Business Review by hotelexecutive.com 4 November 2018
Emerging technology is always a hot topic. It's gone from Big Data to data science, artificial intelligence, machine learning, predictive analytics, and most recently, blockchain. Keeping up with these technologies is never easy, especially for the hotelier focused on running a strong, profitable operation with a memorable guest experience.

Training, Maintaining & Elevating Top Hotel Revenue Management Talent

Hotel Business Review by hotelexecutive.com 4 November 2018
Remember that whiz kid in reservations? He had grown up with computers and seemed able to fly around the property management system with natural ease and skill. Sure, his job was just to answer calls and make reservations, but he had a knack for finding cool reports buried deep in the system. Not only that, but he had also somehow mastered Excel and was able to create dazzling charts that seemed to bring the numbers to life.

Four Key Areas of Waste Management in the Hotel Industry

Hotel Business Review by hotelexecutive.com 28 October 2018
A haven for road warriors, a temporary home for traveling families, a site for trade shows and conferences-hotels are all of these things and so much more. With hotel visitors coming from all over the map for all sorts of reasons, it's important to keep your eye on your hospitality facilities waste output. For most people, waste is waste no matter the shape or size and, in the end, it all winds up in the dumpster. But for the smart hotel owner and operator, that's not always the case.

The Benefits of a Programmatic Performance Marketing Strategy for Hotel Brands

Hotel Business Review by hotelexecutive.com 22 October 2018
With the holiday season quickly approaching, hotel and travel brands need to be stepping up their digital marketing to drive sales and capitalize on one of the busiest travel seasons. From Labor Day weekend until the winter holidays, travelers will be booking flights and hotel rooms by the masses. Busy as it may be, fall is the perfect time for hotel brands to implement new ways to drive sales and increase revenue. And, one of the more beneficial tactics marketers should be considering is utilizing a programmatic performance marketing strategy with a strong emphasis on native search.

Technology to Reach Your Hotel Revenue Potential

Hotel Business Review by hotelexecutive.com 15 October 2018
Aside from their guest and overall customer experience, we can likely agree that hotel partners also care strongly about their revenue performance and how they fare against their competitive set. Hotel revenue management has been around for more than 30 years, yet adoption of revenue management technology has been slow – despite the importance of revenue performance as a top principal– with less than three percent of hotels globally leveraging it. Hotels today are often missing valuable access to rich information on competitive sets, market demand scores, pricing calendars and more, which can put them at a disadvantage.

Total Revenue Management for Limited-Service Hotels

Hotel Business Review by hotelexecutive.com 15 October 2018
Two major challenges come to mind when it comes to maximizing revenues for limited-service hotels. The first challenge is that some revenue managers may feel that they don't have the same opportunities to maximize multiple revenue streams as in a hotel that offers F&B, Spa or Golf. While full-service hotels can rely on these additional services to enhance overall revenue, the perception is that this is generally unavailable to limited-service properties. They might be able to boost revenue with some limited amenities, but often those are offered gratis.

Smart Design: The Top Technology Design Trends Your Hotel Guests are Demanding

Hotel Business Review by hotelexecutive.com 8 October 2018
There was a time when I was a kid that the most exciting technology in a hotel room was the television's hand-held remote control. What a treat it was to stay in a hotel room and not have to get up to stand in front of the TV and change the channel for my dad. Well, that certainly has changed, and with how quickly is technology evolving, by the time you read this article, I am sure some of the concepts will be outdated.

The Important Role of Emotional Intelligence In Revenue Management

Hotel Business Review by hotelexecutive.com 1 October 2018
In previous articles we discussed the importance of Total Revenue Management in-depth, and today I would like to explore a topic that is very important for the progression of any Revenue Management role: emotional intelligence.

Hotel Food Waste is Your Business

Hotel Business Review by hotelexecutive.com 17 September 2018
When hotels adopted Energy Star technologies and implemented 'Hang Your Towel' water stewardship campaigns, they saw benefits beyond achieving environmental targets. These efforts yielded a return on investment by improving efficiency. Today, hotels are presented with a new opportunity for efficiency – food efficiency – with the potential for financial, social, and environmental benefits that far outweigh implementation costs.
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Interactive Hotel Design is All About Knowing Your Target Guest

Hotel Business Review by hotelexecutive.com 13 November 2017
The advent of social media brought with it an important shift in the hospitality industry. Any guest's experience might be amplified to thousands of potential customers, and you want to be sure that your hotel stands out for the right reasons. Furthermore, technology has increased competition. According to Euromonitor International, the travel industry will have the highest online payment percentage of any industry by 2020, often occurring through third-party sites that display your competitors alongside you. As a result, many hoteliers are looking to stand out by engaging customers and the experience has become more interactive than ever.
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Interactive Digital Signage Strategies

Hotel Business Review by hotelexecutive.com 6 November 2017
Hotel guests can have a lot of questions, and the front desk staffers who get quizzed all day, every day, don't always have the time or right information to be helpful. Imagine how useful an interactive screen, along with a range of other on-premise screens, would be in boosting guest experiences. Also ponder how such screen can remove pressure and demands off those already busy customer-facing staff members.

Preparing for the Deployment of Blockchain in the Hospitality Industry

Hotel Business Review by hotelexecutive.com 6 November 2017
Earlier this year, the travel company Webjet announced it was in the process of converting a blockchain pilot it had developed into a commercial grade application. The blockchain-based application will be able to provide accurate information about hotel inventory, on a real-time basis, for hotels around the world. Yet, this application of the technology may not have the biggest impact on the industry. Hailed as the best use case for blockchain by the Harvard Business Review, loyalty reward systems are the target of significant investment by blockchain companies looking to add functionality to a system of critical importance to the industry.
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Profit Optimization is Not Just a Buzz Phrase for Room Revenue

Hotel Business Review by hotelexecutive.com 30 October 2017
The evolution of revenue management has taken hotels from dynamic pricing of transient rates to a holistic strategy of maximizing profitability across multiple revenue streams. Revenue management has moved far beyond the Microsoft Excel expert in a small back office and now involves multiple stakeholders from several departments, all influencing overall revenue strategy with each of their key areas of function.
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Looking Ahead to Revenue Management in 2020

Hotel Business Review by hotelexecutive.com 23 October 2017
From driving a vehicle to constructing a building, alignment is the foundation for ensuring stability (competitive advantage), obtaining optimal traction (demand), and safely handling capacity (supply). Despite revenue management remaining neutral in its pursuit of optimal performance, many other disciplines within the hotel organization remain fairly isolated and instead focus on departmental objectives. Although specialized areas of concentration, such as meeting group cross-over goals or improving customer satisfaction scores, can lead to improved hotel performance overall, establishing fundamental goals across all internal teams is the true bedrock to build upon. These goals must first be established by ownership and management, then shared through open and transparent communication to ensure each and every department's objectives are aligned. The most successful organizations identify their vision, broadcast their everlasting devotion to their objective, and focus all of their efforts to achieving their goals, relentlessly. This model is what will lead to the perpetual success of a hotel.
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When an Unthinkable Duo Becomes the Unsinkable Duo

Hotel Business Review by hotelexecutive.com 23 October 2017
Hotels have been feeling the heat from OTA competition for several years, causing many organizations to double down on their efforts to drive more direct bookings. Revamped loyalty programs, refined marketing campaigns and improvements to brand websites have all become primary focuses for hotel brands looking to turn the tables on their online competition.
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Finding and Promoting Revenue Management Talent Within Your Organization

Hotel Business Review by hotelexecutive.com 23 October 2017
Do you have a catering assistant whose first question each morning is Did we sell out? or What was our occupancy and ADR last night? What about a front office associate who is so hungry to earn the perfect sell incentive that every time she works the 3:00 to 11:00 shift and the hotel has just a few rooms left to sell, you can count on the fact that you are going to end up with a perfect sell? If so, you may have just found your next revenue manager!
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Hotel Revenue Management in the Age of Airbnb

Hotel Business Review by hotelexecutive.com 23 October 2017
Hoteliers today have a similar fear to that which the large hotel owners had just a couple of decades ago when OTAs arrived on the scene. With OTAs, it suddenly became possible for smaller, independent hoteliers to compete with the big guys. With Airbnb, it has suddenly become possible for single individuals who aren't even in the business to compete with actual hotels. Airbnb is to hotels as Uber is to taxis.
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The Intersect of Cloud Computing and Revenue Management

Hotel Business Review by hotelexecutive.com 16 October 2017
Cloud computing is a term that most people know about and are familiar with. However, many hotel executives don't know that the advent of the cloud is reshaping the future of hotel Revenue Management - and they can benefit from it. First, executives need to understand the evolution of cloud computing. As the size of datasets increased - giving rise to the term Big Data - the cost to both store all that data and perform the processing required to leverage it has become incredibly expensive. Meanwhile, innovation in cloud computing - which means harnessing latent computing capacity to dramatically increase storage and computing capacity - has been moving at warp speed lately after evolving for decades.
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Optimizing New IT Revenue Tools to Your Advantage

Hotel Business Review by hotelexecutive.com 16 October 2017
Technology is becoming an ever more growing part of the hospitality industry and it has helped us increase efficiency for guest check-inn, simplified the night audit process and now has the opportunity to increase our revenue production. These systems need hands on calibration to ensure they are optimized for your operations. As a manager you need to understand how these systems work and what kind of return on investment your business is getting. Although some of these systems maybe mistaken as a "set it and forget it" product, these highly sophisticated tools need local expert like you and your team to analysis the data it gives you and input new data requirements.
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Hire-Tech Revenue Management Solutions

Hotel Business Review by hotelexecutive.com 16 October 2017
You do not have to be a hospitality professional to recognize the influx and impact of new technologies in the hotel industry. Guests are becoming familiar with using virtual room keys on their smartphones to check in, and online resources like review sites and online travel agencies (OTAs) continue to shape the way consumers make decisions and book rooms. Behind the scenes, sales and marketing professionals are using new tools to communicate with guests, enhance operational efficiencies, and improve service by addressing guests' needs and solving problems quickly and with a minimum of disruption.
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Respecting the Revenue Management Quartet

Hotel Business Review by hotelexecutive.com 16 October 2017
Consider the potential quartet of revenue managers holding a stake in a single hotel: OTA market managers working for Expedia and Booking.com; brands employing their own revenue managers for their flagged hotels; third-party management/revenue management companies overseeing the day-to-day property operations; and an asset manager serving as ownership's fiscal watchdog. And in some cases there may be other revenue management influencers who take an active role.
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How Technology Will Change the Guest Experience

Hotel Business Review by hotelexecutive.com 9 October 2017
For better or worse, technology has influenced the way we work, socialize and travel in significant ways and, certainly, will continue to do so well into the future. The guest experience is no exception to that influence and one I see as undergoing radical challenges in the next five years.

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