Duetto · 12 Jul
Whether it's one hotel or an entire portfolio, there are certain revenue management tasks that are simply too repetitive and add little value for the time they take. Think about manually gathering data in an Excel spreadsheet for pricing decisions or manually keystroking rate recommendations into the Property Management System (PMS).
Duetto · 27 Jun
As hoteliers throughout the industry continue to realize the importance of the revenue team's role to the success of the hotel overall, revenue management as a discipline continues to rapidly evolve.
Duetto · 21 Jun
It was no accident that the stage comprised three female hoteliers during the "Revenue Professional's Guide to Asset Value and Profitability" session at HSMAI's Revenue Optimization Conference on Wednesday.
Duetto · 21 Jun
Michael Heyward, Founder, Heyward Hospitality Solutions, saw the birth of hotel revenue management. Having worked in the hotel industry for more than 30 years, with experience in operations, franchising and revenue management with both independent and chain hotels in Europe and Asia Pacific, he has seen it all.
Duetto · 24 May
Total Revenue Forecasting (TRF) enables hotels to get a better picture of both rooms revenue and ancillary revenue in order to plan more strategically. This may be in terms of resourcing. For example, anticipating demand before it arrives can enable you to spend marketing money more accurately. It can show where demand is weak, not only in rooms but also in other revenue-generating areas of your hotel.
Duetto · 23 Apr
Amidst a much-needed "digital transformation" across the entire hospitality industry, hotel owners have tough decisions to make about which technologies will put them ahead of the curve and which will ultimately fail to have an impact.
Duetto · 18 Feb
This week's Opportunity 2019 conference provided plenty of food for thought for the UK's revenue management community, as industry professionals, hoteliers, students and solutions providers came together to discuss 'Revenue Management and the Connected Customer.'
Duetto · 1 Feb
Examining the challenges and opportunities facing hoteliers in 2019, it might be easy to say, "New year, same old story." In attempts to drive revenue and increase profitability, hoteliers—like they have for seemingly the past decade—continue to focus on less costly ways to acquire guests.
Duetto · 30 Nov
Getting the right group business in your hotel at the right time for the right rate requires a holistic approach from your entire hotel operations team. In the current environment, inefficiencies in formulating group rates and quoting them to potential guests has hotels leaving a lot of money on the table.
Duetto · 16 Nov
Of all the travel industry conferences, no one could argue that Phocuswright is among the best at getting today's brightest and most influential leaders on stage. The conference kicked off this week in Los Angeles, and if you're not there you can stream most of the sessions on the conference website. We're paying closest attention to what the hoteliers and hotel intermediaries have to say, of course. Here's a rundown of yesterday's highlights from the stage.
Duetto · 19 Oct
Hoteliers are still in the infancy stages of using the troves of available data to better serve guests and value rooms properly, according to Balaji Krishnamurthy, Chief Strategy Officer with Sabre.
Duetto · 15 Oct
That's exactly what innovator, strategist and Chief Operating Officer of citizenM, Michael Levie, hopes to uncover during the panel discussion he will moderate at RSF London on 5 November called, Hype or Hope: Is Blockchain going to change the industry, or much ado about nothing?
Duetto · 28 Sep
Can you name three great enterprise technology companies in hospitality? Or even one? The answer is likely "no," because most people have never been terribly impressed by the typical experience on a hotel's website.
Duetto · 14 Sep
Fresh off a summer packed with fantastic industry events featuring thought-provoking speakers, I've finally had time to sit back and contemplate the bigger challenges facing hotels today.
Duetto · 28 Aug
Despite industrywide record demand and occupancy levels, historical data shows that hoteliers — specifically general managers and revenue teams — are struggling to drive rate at paces they've seen during past peaks.
Duetto · 10 Aug
Hotel owners and asset managers led the charge at RSS 2018 for revenue-focused leadership that would help them and the major brands whose flags they carry. A more holistic Revenue Strategy that maximizes profitability is within reach, RSS attendees said, but it requires greater collaboration among all stakeholders, as well as all departments of a property.
Duetto · 10 Aug
Over a couple of beautiful winter days Down Under, hotel practitioners gathered at the Sydney Exhibition Centre at the No Vacancy Accommodation Expo 2018 to listen to experts discuss changing trends and challenges faced by the industry.
Duetto · 20 Jul
The hospitality universe is constantly shifting and, more importantly, growing. In his opening message at RSS 2018, Duetto CEO Patrick Bosworth encouraged the hoteliers, asset managers and technologists gathered there to see opportunities for better Revenue Strategy, where others might only see obstacles.
Duetto · 15 Jun
Blockchain is the next major disruptor to the travel industry, according to industry experts talking at the Blockchain Demystified - How will it change your business? panel discussion at last week's EyeforTravel Europe Summit.
Duetto · 4 Jun
Getting customers to your hotel's website is one thing. Converting their clicks into bookings is quite another.
Duetto · 1 Jun
When a controversial report finds "no measurable" benefits for hoteliers who shift their booking mix from online travel agencies to direct channels, you can be sure its arguments—especially a specious claim like direct-booking campaigns' main goal is to "reduce transparency for consumers"—aren't backed up by credible facts. That's because revenue and distribution strategies are about more than just numbers. Granted, they should result in maximum profit over the long run. But in addition to the data science involved in revenue strategy, customer relationships matter a great deal to a hotel's success. The consulting firm Infrata seemed to imply otherwise in a study of hotel distribution costs published in May, sponsored by the European Technology and Travel Services Association. In addition to questionable metrics, the report's most puzzling assertion is that hotels' efforts to drive more bookings directly decreases customer transparency.
Duetto · 25 May
Honestly, I thought the war between hotels and online travel agencies would've died down by now. Clearly the battle rages on.
Duetto · 7 May
According to Cornell University professor Bill Carroll, a lot of hospitality students who focus on careers in hotel real estate are missing great opportunities in the field of revenue management.
Duetto · 4 May
Hype surrounding blockchain technology continues to climb, despite the volatility in related cryptocurrencies like Bitcoin seen earlier this year. While it's still too early to know how these distributed-ledger technologies might change the hospitality industry, experts are starting to share details of what could be effective use cases in distribution and hotel loyalty.
Duetto · 3 Oct
The overreliance of legacy technology solutions and the lack of data integration are possibly the single biggest constraints on the hotel sector today. The reasons for this are deep-seated in the history of hotel technology. Most hotel operations have built up their technical systems and applications piecemeal over the years. As a consequence the teams that were created to support them looked at things from a narrow viewpoint. These organisational silos limited data exchange between teams, and that has evolved into limited data exchange between technology systems. In order to drive revenue, hotels need to drive technological advancements in two ways: