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Article by David Lund

Hospitality Financial Leadership - Continually upgrade your system

The Hotel Financial Coach 16 October 2017
The flip side of this is: Don't change or make the people wrong--it is the system that's wrong and the system needs to be changed. Then we will get another result. Keep working the system five percent at a time. Always be re-programming your system, i.e., what version of Windows are we on?We tend to look at the chaos at work and in our own lives and we want to blame someone or something for it. It is the victim crying out that we have been unjustly punished and sentenced to suffer in the mess we are in. We need to rise above this and look at the system we use; see the system that exists and change it.Unlock the systemWhat is the next thing in the system that needs to be re-programmed, what is the next thing that needs upgrading and strengthening? Do not play the fool's game and expect a wholesale complete re-vamp of your system. Constant incremental improvements win the race.In the following situation I will use the example of the monthly commentary:As it stands now, department managers are providing useless information on what happened last month and the upcoming month's information is the same. It seems they write in a different language that I can't understand. I am held hostage by their lack of commitment to this and they do not care. Do you hear the victim? Let him out of his cage.Back to owning it:The system I have is one where the department managers are made wrong on a regular basis because they are not living up to my expectations. Really, this is the case. What have I done to strengthen my monthly commentary system? What new software releases have I made to "our" commentary system? I own this mess and I am going to straighten it out and strengthen it. Make changes every month to make the commentary better.Owning it:My new system release this month entails a 1-1 with three of my biggest commentary customers (department managers) where we review the basics of a good commentary, one that does not regurgitate the numbers. A commentary that explains the variances based on a review of the assumptions for the month and what actually happened. Ah - a little light.... We agree to the format. The managers are actually relieved to have a blueprint to use. Why didn't anyone tell me about this before? Next month I will do three more customers.My system just got 5 percent better. What will my next system upgrade be? Maybe I will co-host a 20-minute workshop on creative writing. I know my public relations manager is a keener and this is something he would love to do. I just need to ask him to help me....Systems are everythingDo not ever stop releasing new versions of your system. Every month we get to upgrade and strengthen our systems. The window opens every month.What upgrade will we release this month?What! A month goes by and no new software release. Come on! Be Microsoft, release an upgrade!If you would like a copy of any of the following send me an email at david@hotelfinancialcoach.comHotel Financial Policy Manual - Inventory of "Sections"Hotel Financial Coach "Services Sheet"F&B Productivity SpreadsheetRooms Productivity SpreadsheetFinancial Leadership Recipe F TAR WEnhanced Flow Thru Cheat SheetVisit my website today for a copy of my FREE guidebookThe Seven Secrets to Create a Financially Engaged Leadership Team in Your Hotelwww.hotelfinancialcoach.comCall or write today and arrange for a complimentary discussion on howyou can create a financially engaged leadership team in your hotel.Contact David at (415) 696-9593.Email: david@hotelfinancialcoach.comwww.hotelfinancialcoach.com
Article by Leora Lanz & Jovanna Fazzini

How do Hotels Fill Those Last Available Rooms?

LHL Communications 16 October 2017
The Director of Sales and Marketing at The Langham Boston, Rachelle Boudreau, emphasized this challenge. "It is difficult to be aware of the various distribution channels, as so many are changing daily and being bought by other companies. These distribution partners are then taking the inventory and selling it online through other third parties. Additionally, some tour wholesalers try to re-sell the inventory through other online travel operators in other countries, who, in turn, will place inventory on a B2B (business to business) and B2C (to consumer) websites, which can ultimately diminish the hotel's rate parity."Knowing how confusing the digital marketing and distribution landscape can be, how do hotels manage their options to sell inventory, particularly at that eleventh hour?Contrary to Popular Belief, It's Not All About the OTA'S:According to Steve Ehrhardt, 2016 Chairman of the IHG Owners Association, and owner/operator of Missouri-based Ehrhardt properties, it is not necessary to utilize OTAs as a long-term booking method in tertiary markets if the hotelier has the right data."OTAs are most useful for last minute inventory sales. If they are overused or rooms are discounted too severely the brand risks damage and hoteliers leave money on the table," explains Ehrhardt. "The one thing you can count on is that patterns repeat themselves." Ehrhardt advises that one should know 'the playbook' by looking at historical data, trends, market events, and groups. "The use of revenue management data is an art and a science," Ehrhardt continues. "It's looking at what is best for your market at that time using intuition, and knowing the 'drill' for that time of year using history to maximize revenue. With an effective revenue management strategy and identification of patterns, hoteliers can prevent having to sell inventory last minute, thus avoiding OTAs and their commission fees."Stephen Field, President of Philadelphia-based Synergy Hospitality, advises that when operating "in primary markets, such as Philadelphia, strategy varies less by exact geographic location, and more by the length of the booking window. For example, airport hotels may have an extremely short booking window, due to flight schedule changes caused by bad weather. Taking this into account, a strategy that places an overdependence on OTAs in these types of markets may displace higher rated last minute bookings."Field also notes that dependence on OTAs differs with independent versus franchised hotels. "All hotels should minimize OTA use unless there is real distressed inventory in a short-term situation. The challenge with these channels is that they are extremely price sensitive and commoditize guest room inventory. There are too many hotels that rely on OTAs as the sales effort of least resistance, instead of investing in an exceptional sales team. These hotels avoid hiring good salespeople and simply put rooms on the Internet. They think they are saving $50,000-$60,000 in labor costs; failing to realize that one good salesperson can generate many times their salary in incremental business."Synergy Hospitality prefers to utilize a longer-term sales strategy that is focused on hiring an effective sales team that will build relationships with travel managers, the Convention and Visitors Bureau, local event planners, and corporations. Using this strategy, the sales team generates relationship-based brand exposure. This strategy is based on the assumption that the best solution to distressed inventory is to minimize the amount of it through the use of an effective sales strategy, according to Field.There are also various platforms and distribution channels emerging as alternatives to OTAs:BarterBarter offers hotels a lucrative, dual-purpose business strategy - a financial tool that monetizes unsold inventory, while transforming that monetized inventory into marketing buying power. Innovative Travel Marketing (ITM) of Parsippany, New Jersey, uses barter to fund advertising campaigns and increase brand awareness thereby maximizing a hotels' occupancy and average rate. The traded room inventory can generate corporate and leisure guests who are direct consumers; they are not customers from OTAs who are typically more price-sensitive and less likely to produce ancillary revenue.Jody Merl, founder and President of ITM, explains that, "You can never recover the cost of an unsold room. It's leaving money on the table. Hotels can convert their unsold rooms into significant equity. By using the full value of those rooms via barter, rather than discounting, we help hotels establish and grow a more desirable customer base."Merl explains, "Once we determine the available inventory, we create a plan to enhance brand presence and recognition in the marketplace and/or devise tactical initiatives focused on target audiences. For instance, we can use the market value of 20 unsold rooms to run a targeted media campaign to reach meeting planners, which in turn, results in a $50,000 event space rental and additional food and beverage revenue."Merl explains that when a trade arrangement is set, the hotel's inventory is made available and utilized by ITM's corporate media clients, who bring high-level executives to the hotel. The rooms are ultimately booked for senior-level and c-suite leadership and executives with magazines, publishing houses, broadcast companies and individual television stations, or corporate trading partners. These guests spend money in the hotel, spread positive word of mouth, and potentially return as cash guests. Merl said, "the benefits are further multiplied when you contrast the barter-produced end user with the OTA-sourced guest, who is often a discount shopper seeking the lowest price point."Bartering can also be used as part of the hotel's long-term sales strategy, particularly in anticipation of known occupancy patterns, to address opportunities, dates, and time frames or to create annual brand campaigns tailored to hotels' specific needs."For example," shares Merl, "assume a 200-room hotel averages 50% occupancy in May, with an average daily rate of $200. The other 50% of rooms, which do not sell, amount to $20,000 in unsold rooms. If the hotel trades with ITM, it receives a $20,000 ITM advertising budget. The hotel has now monetized empty rooms to pay for media and draw 'profitable' guests." Barter can also be leveraged to monetize unused meeting, banquet and event space, and hotel recreational areas such as a golf course. Whenever a hotel has unsold inventory, it can optimize its equity through barter to:Support the sales effort with a cohesive advertising campaign;Impact low season business and gap periods with a tactical campaignLaunch new products;Test new markets;Test new media.Flash SalesOften overlooked in favor of OTAs, flash sales can target the luxury guest. According to Amy Finsilver, General Manager of XV Beacon Hotel in Boston, using sites like Jetsetter and Gilt are beneficial in targeting guests who are more likely to contribute to ancillary revenue."If you have a contact at, for example, Gilt, the contact will tell the hotelier when there is availability to post a flash sale. The hotelier then sees if Gilt's time of desired promotion matches the hotel's needs. If it is November, and the hotel notices it is pacing behind for January, the hotel can contact the Gilt promoter, who will notify the hotel if there is an opening. If there is an opening, the hotel will give the site a specific number of rooms with a value-added package, which is then included in Gilt's upcoming promotion."As a result of the transaction with the flash sales coordinator, the site obtains a percentage of the room rate, and the guest obtains a discounted price. The commission cost depends on the type of package and the time of year, ranging between 5%-30%. It is most beneficial to implement this strategy when the sales and revenue management teams notice they are pacing behind.Maintaining Occupancy Rather Than Lowering RatesAs hoteliers embark on the selling expedition, for some it is better to simply ride out the wave of lower occupancy. For a hotel like XV Beacon, with the value proposition of being a five-star, five-diamond experience, rated the #1 Hotel in the US by Conde Nast Traveler in 2014, significantly discounting the rate on an OTA is not an option. "My mindset is not to sell-out, it is to sell at our high rate to communicate the value of our experience to the guest," Finsilver adds. Since XV Beacon competes with other five-star hotels like the Ritz Carlton and the Mandarin Oriental, she realizes that she cannot afford to offer contract rates as low as these other brands. She instead competes by "trying to see what the guest wants, for example realizing that there are guests who want to bring their pets; thus we welcome dogs of any size and do not charge a pet fee."Hotels can also take advantage of low-occupancy periods by completing renovations at this time, or by "closing off" specific floors of the hotel. Boudreau says using slow periods "to complete renovations, construction, and necessary back of the house work" can be beneficial. She also limits which floors are in use, which lowers heating and utilities expenses.There are also cases in which hotels have relationships with local hospitals and can offer available rooms for the families of loved ones who need hospital care away from their own hometowns. Hotels can donate as few as one or two sleeping rooms to a local hospital to accommodate family members who are assisting patients or who are visiting for comfort and support. The humble gesture can prove to be a significant help for a family in need of a comfortable experience.Donating Rooms for Philanthropy and Social ResponsibilityWith guidance and historical data from the front office manager, the revenue manager, the sales and marketing directors, or regional distribution advisors, it's both an art and a skill to balance the juggling act of the sales and revenue management challenge.Execution of last minute public relations, email marketing, or digital marketing campaigns can be daunting, but of course critical. It is up to hotel marketers to remain vigilant and current with distribution and marketing technologies and tactics to properly align occupancy with desired rates. The tactics shared here require their own set of skills and know-how and are certainly not exhaustive. Filling those perishable rooms takes risks, trial and error, stamina and belief that your approaches will work if you stick with them. What steps do you take to prevent those perishable rooms from going unused?Republished with permission from Hotel Business Review (HotelExecutive.com).

Pricing Optimization: Leveraging external examples

Sabre Corporation Blog 16 October 2017
Amazon, Google Adwords, and Uber – what do these companies have in common? And, what can your airline learn from them? While the airline industry is vastly different from the sharing economy platforms and online retailers of the world, there is much to be learned from these players about effective pricing strategies. In fact, the majority of leading Internet marketplace companies use dynamic pricing as a solution when confronted with a scarcity of supply.

Technology Holds the Key to Personalized Rate Offerings

Duetto Research Blog 16 October 2017
Seven trending hotel news stories that will have an impact on your hotel Revenue Strategy. 1. ADVANCED ANALYTICS WILL FUEL ABILITY TO PERSONALIZE: According to a McKinsey & Company report, the time is close when hotel marketers and revenue managers will be able to deploy a range of technologies—including predictive analytics, geolocation data and artificial intelligence—to create ultra-personalized (McKinsey calls it “radical”) offers, experiences and pricing to hotel guests. The authors further project that advances in machine learning will improve hotels’ ability to optimize pricing through more accurate analyses and predictions based on market demand signals, local room availability, and a deep understanding of the individual customer’s willingness to pay. Advancements in analytics will also enhance revenue managers’ abilities to forecast business.

The Future Of Guest-Facing Hotel Technologies

Handy Travel Blog 16 October 2017
Guest facing hotel technologies are undergoing a fundamental shift. Over the next few decades guest-facing technology is going to take a central and interactive role in hospitality. We already know it’s going to put a lot of people out of jobs, but still, it’s hard to imagine that interactive technology could ever actually ever take the place of the hospitality industry’s most valuable resource: helpful, friendly people. It is certain, though, that interactive smart technologies will add a new dimension to guest service that we’ve never seen before.

Revenue Management is Key Hub in Hotel Operations

Duetto Research Blog 13 October 2017
There is no more dynamic or interdependent business than the operation of a hotel. It’s an environment that brings together various functions —from food and beverage to housekeeping to maintenance to sales and marketing — all under one roof, and with a common goal of maximizing profitability. And while each function is separate, they must all work together and communicate with each other to create an operation that efficiently meets or exceeds guest expectations while maximizing sales and profits for ownership.

SnapShot Collaborates with RevMax, Vietnam's First Professional Revenue Management Consultancy, to Provide Hotels with Cutting-Edge Analytics

Snapshot Blog 13 October 2017
SnapShot, leading provider of fully integrated applications and analytics for the hospitality industry, announced today that it has joined forces with RevMax, Vietnam´s first professional Revenue Management consultancy. By the forge of this new partnership, RevMax becomes an authorized distributor and reseller of SnapShot in Vietnam. RevMax´s customers can now have complimentary access to SnapShot´s trademark Analytics dashboard, which provides hoteliers with extensive insight into their properties happenings, on and offline.

Calling Hotels: Take a Part in HEDNA Hotel Analytics Working Group Survey

Snapshot Blog 13 October 2017
analytics survey.png As announced during the Dublin conference in June, HEDNA has launched a new Hotel Analytics Working Group, tasked with establishing best practice guidelines that will empower hoteliers to optimize how they collect, store, analyze and action their data to make intelligent decisions about their distribution strategies.

How to increase your hotel's occupancy rate

SiteMinder Blog 13 October 2017
In order to improve your hotel’s occupancy rate, there are a few things you need to consider. For example, you want to know how to calculate your current occupancy rate, how optimal your current rate is, and whether there are specific times you should be focusing on.

Beekeeper Poises for Global Growth with Prominent Staffing Changes

Beekeeper 12 October 2017
SAN FRANCISCO, CA -- Beekeeper, a workplace communication company focused on connecting non-desk workers and their employers, is announcing internal promotions and adding new talent to further support it swift growth and corporate directional changes. Cristian Grossmann, CEO, has appointed Corey McCarthy, former VP of Marketing North America, to VP of Global Marketing, and Andreas Slotosch, former Vice President of Global Marketing, to Vice President of Growth. In addition, Bobbi Frioli has joined Beekeeper as Vice President of Sales.Beekeeper is the developer of an award-winning digital workplace platform that digitizes the non-desk workforce by connecting operational systems and communication channels within one secure, intuitive platform. Beekeeper connects colleagues across locations and departments in real time via mobile or desktop devices, and includes an intelligent analytics dashboard to help companies improve internal communication and streamline business processes. Secure, automated, and relevant information is readily distributed, searchable, and measurable in one central hub for an efficient digitized workflow."Due to the increasing demand to connect geographically-distributed workforces and non-desk employees with corporate offices and each other, Beekeeper is growing at a rapid rate," Grossman said. "Companies are turning to us to bridge the communications gap by implementing one powerful platform that connects their operational systems with the communication channels their employees are using and accessing most -- namely mobile and desktop devices. Our platform is designed for employees who work shifts, don't sit at desks, and do not have corporate email addresses. With Beekeeper, companies can easily reach, connect and engage these employees to create innovative ways of working."Andreas and Corey have done a tremendous job in positioning Beekeeper for success, and adding Bobbi to the team will further support our sales efforts," he said. "Each are passionate about connecting people through technology, and together they will continue helping companies increase productivity through improved digital communication and employee engagement."Hospitality ConnectionMcCarthy is an entrepreneur, marketer, and speaker. As Beekeeper's head of global marketing, she dances on the fine line between art and science to share Beekeeper's mission to connect the world's two billion non-desk workers, generating leads that will ultimately lead to meeting the company's growth goal. Previously, McCarthy ran the media assets for Lodging Hospitality, part of a $1.56B publishing company."Beekeeper has tremendous potential for making fundamental shifts in the way hospitality teams and other industries rely on and communicate with non-desk workers," McCarthy said. "The impact that our company has on the lives of front-line workers is not to be underestimated. Beekeeper is changing people's lives for the better, and that inspires me to work hard each day and bring the same opportunities to others."Digitizing this workforce niche is happening quickly, and it's a movement that McCarthy said she is excited to champion. Reaching this massive population will take scale, and that effort is shaping the new direction of Beekeeper."Short term, we are focusing on the hospitality industry to create the best mix of features and operational integrations to optimize the employee experience at the hotel property and up the chain to senior management," she said. "Long-term, we are looking to keep our product ahead of the curve when it comes to trends to and optimize for Artificial Intelligence and other emerging technology we see coming on the horizon."Start-Up SavvyBeekeeper tapped Slotosch four years ago for his start-up expertise; he co-founded numerous web startups and led business development for several international companies, including Oracle. He holds a Master's degree in Business & Economics from the University of St. Gallen, Switzerland."At Beekeeper, we care about every single employee - not just within our organization, but those working at businesses around the world," Slotosch said. "By connecting the disconnected within companies, we are having a real impact on the lives of millions of people, making their daily work a lot easier. It gives me and my team members a profound sense of accomplishment, and it's probably the No. 1 reason I love being part of this hive."Slotosch said this new role will give him the opportunity to combine his technical background with his proven marketing skills. Ultimately, he hopes his skillset will have a strong and continued impact on the future of Beekeeper."Not only will I focus on increasing awareness of Beekeeper in a global market, but as VP of Growth, I will spearhead initiatives that bring us closer to the goal of connecting non-connected workers," he said.High-performing Sales LeaderFrioli is a proven leader in worldwide sales and channel development. She has extensive experience managing global sales teams and has worked for enterprise, security and mobile software companies. Her stellar track record of increasing sales revenue and developing strong sales teams makes her a perfect fit for Beekeeper."Beekeeper not only has an impressive founding team, but I was 'wowed' by the caliber of people they hired to form this organization," Frioli said. "As Corey and Andreas focus on global marketing and international growth, I am thrilled to be taking the Beekeeper message to my sales channels in the Americas. Joining an organization with such a cohesive team and message is rewarding, and I am proud to get the buzz started about the need for this exceptional workforce communications tool."Frioli said that although awareness is growing in select markets for technology that targets non-desk workers, she plans to make some noise and drive awareness in the hospitality and manufacturing industries. Her goal is to direct attention to Beekeeper's value and the operational benefits this single-channel platform brings in communicating with all employees . . . no matter where they may be."I'm excited to be at the forefront of a movement to ensure people are heard and engaged within their organizations" she said. "I'm even more happy to join the Beekeeper team."Join the BuzzFortune 500 companies across the globe have adopted Beekeeper to empower employees regardless of role and location. New clients include hospitality giant Mandarin Oriental, retailer Dollar General, and food manufacturer Seaboard Foods, as well as Heathrow Airport, Gate Group and Dnata in the transportation sector.Beekeeper has also increased its user base by more than 500% and currently serves hourly workers in more than 137 countries."There are endless opportunities for making operations more simple and efficient, all while keeping your teams more engaged and happy to come to work," Grossman said. "Our global team is intact and ready, willing and able to bring your company into the hive and communicating effectively with all employees."

Beekeeper Introduces Custom Integrations, Bringing Chat and Operations Under One Hub for 2 Billion Non-Desk Workers

Beekeeper 12 October 2017
"The ability to integrate our HRIS with Beekeeper has been instrumental in automating administrative processes that were time-sensitive." Claudia Scherrer Domingos, Head of HR, Domino's PizzaSAN FRANCISCO, CA -- While many workplace tools specialize in peer-to-peer, top-down, or bottom-up communication, it is rare to encounter a workplace app that tackles all three. Running on the belief that an intuitive user interface (UI) and open communication builds cross-organizational trust, Beekeeper's award-winning digital workplace application has been connecting dispersed non-desk teams across a variety of industries since 2012.Today, the company announced its latest platform expansion, adding the capability for information technology teams to integrate open application program interface (API) operations tools directly into its Beekeeper communications hub. Keeping employees connected to the organization at large, as well as to each other, Beekeeper aims to digitize the 83% of employees worldwide who do not sit behind a desk.Beekeeper's integrations enable companies to design and implement highly customized digital workplace platforms for their non-desk employees. Organizations can use Beekeeper APIs to merge their existing operational systems like payroll, scheduling, file sharing, task management, and beyond, into the centralized Beekeeper hub that their employees use to communicate throughout the work day. This creates a simplified, secure, and easy-to-use tool where anything a particular worker needs to excel in their daily routine is stored in one convenient location."When we talk about how artificial intelligence will impact the future of work, we often think in terms of automation swapping out humans for algorithms," said Flavio Pfaffhauser, Co-Founder and CTO at Beekeeper. "But for industries such as hospitality, construction, and restaurant services, successful workforce digitization means breaking down the friction and barriers between people and operations, allowing transparency and clear communication to build strong workplace culture."Beekeeper's off-the-shelf integrations are completely user-ready from the get-go, easily accessible within the Beekeeper Marketplace. For organizations with deeper technological resources, the Beekeeper Developer Portal is a gateway to even deeper channels of customization. Expanded APIs and resources available on the Beekeeper Developer Portal open up endless possibilities for IT teams to streamline operations for good."The ability to integrate our HRIS [Human Resources Information System] with Beekeeper has been instrumental in automating administrative processes that were time-sensitive," said Claudia Scherrer Domingos, Head of Human Resources for Domino's Pizza. "Now we can directly associate the employee data with the pre-defined groups. This enables us to effectively target all groups, making communication more relevant to the reader. We also don't have to worry about updating employee information in multiple places and additionally can target our internal communications."With Beekeeper's new custom integrations suite, non-desk workers become instantly linked with the operational tools and people they need to thrive. In creating a sense of belonging and trust, increased engagement and loyalty leads to higher organizational commitment, ultimately translating into high individual and team performance.

Group Pricing: Why the Minimal Acceptable Rate is a Trap

The Rainmaker Hospitality and Gaming Blog 12 October 2017
revmgmtebooks.png By now, we're all familiar with the challenges of forecasting and bidding for group business. While those are all crucial to group business, the most important aspect is, of course, price. As the goals behind group business shift from occupancy to revenue, the process of accurately pricing rooms has become infinitely more complicated. Revenue managers have to consider comp sets, sales incentives, availability, and impacts on transient business before determining a room rate. Due to a lack of technologically advanced tools and the multitude of considerations for group business, pricing rooms has primarily been a tedious, manual process.

Envisaging the hotel of the future

By James Law
If the 20th century was an era of conventional hotel design, the beginning of the 21st century has seen the arrival of new forms of hotel design. The growth in urban hotels, boutique hotels, resort hotels, and other permutations of the typical hotel model has yielded a great variety of hotel designs around the world. However, as architect James Law of the Hong Kong-based firm James Law Cybertecture writes, what may set the 21st Century era hotel design from its predecessors is the rapid innovation in everything. Raised design-consciousness and the rapid adoption of technology will yield a new generation of hotels that will be systemically different from before. "They will be different," he says, "because the people who stay in them will stay there for new reasons, with new personalities, and with new lifestyles that never even existed before."

"Dirty Data"- The one data source that might be harming your revenue performance

IDeaS 12 October 2017
Historical demand has long been a critical component of dynamic pricing and Revenue Management Systems (RMS). An even more critical requirement for RMS is the unconstrained demand, which is the true demand for a particular product in the absence of any limitations, such as when a room or seat is unavailable to purchase. The success of unconstraining affects the entire pricing and revenue management process.Attempts to Use Regrets and Denials in Unconstraining Have Been Largely UnsuccessfulThere are two options for unconstraining the demand: direct observation and recording or the use of statistical methods. Since the adoption of RMS in the hospitality industries, the unconstraining methodologies have been primarily analytically-driven and attempts to use real-world or directly-observed customer data, specifically regrets and denials have been largely unsuccessful.Regrets and denials data are not directly applicable to calculating an unconstrained demand since there is an important distinction between "denials" that are due to unavailability and "regrets" that are due to price or other factors. Many reservation or booking systems are unable to automatically capture the difference between regrets and denials.The Unqualified Transient Data from Brand.com Is InsufficientThere have been recent claims of RMS systems incorporating denials data in their algorithm using brand.com data, which merely captures partial regrets and denials data for the unqualified transient demand. However, predictive models using only the unqualified transient disregard the demand for different market segments and/or additional channel behaviors.The problem with this methodology is that not only brand.com comprises only 27% of the reservations for transient nights, as TravelClick reports, but also unqualified transient demand data is being widely used without sufficient regard for unconstraining. Unconstraining methods must include demand for each and all of wholesale, group, corporate negotiated, and unqualified transient demands. This is what we call 'holistic unconstraining.A Guest Searches Multiple Times for the Same RoomProperty managers or reservations personnel may also be unaware of the guest's booking history. For each call, the denied availability will be coded independently when, perhaps, they are related to a long list of inquiries from the same person.Regrets and Denials Data Is "Dirty Data"Various news media have reported that, while bookings have remained generally flat, booking engine transaction volume has increased substantially. This is a strong quantitative confirmation of what is known anecdotally: the look-to-book ratio is extremely high, and continuing to increase.Studies confirm that many travel buyers use a variety of websites to research and compare prices before making booking decisions. So, even if one is confident about the methodology for assessing denials on one site, it is not at all clear that there is not cross-usage of additional websites or multiple visits per buyer that are unknown in the denial logic. That is primarily why leading data scientists refer to regrets and denials as "dirty data."Each of the scenarios above can result in the RMS over-unconstraining the demand data, which leads to over-protection of inventory and, eventually, reduced occupancy.

When cognitive AI, CRM and mixed reality collided

eyefortravel.com·Requires Registration 12 October 2017
VR and AR are now widely known terms for travel brands but could ‘mixed reality’ deliver something different? Imagine a day when cognitive artificial intelligence (AI) and customer relationship management insights all come together in a digital display on the screen of a pair of slick high-tech glasses? Is this the future of customer service for airlines, hotels, cruise companies and more? Stuart Greif, a senior executive at Microsoft, who is speaking in Las Vegas, whose one area of focus is travel and hospitality, believes so.

[Infographic]Ten Things City Hotels Need to know When Choosing a Hotel Property Management System

Hotelogix Blog 12 October 2017
The selection of an appropriate hotel management system can be a tricky one for hoteliers. With the market flooded with innumerable options, it’s easy to feel a little unsure about the kind of hotel management system one is looking for. Every hotel property has a different set of amenities and caters to varied target groups. While the leading names in the hospitality industry have already moved towards using hotel property management system (hotel software) for automating their daily functions, the small and mid-sized owners are left in a state of debate.

Cendyn nominated for 2 World Travel Awards!

Cendyntm 12 October 2017
Cendyn, the leading CRM and sales platform in the hospitality industry, has been nominated for two World Travel Awards; World's Leading Hotel CRM Technology Provider 2017 and World's Leading Data Driven Marketing Agency 2017. "It's an absolute honor to be nominated for the fourth year in a row" says Charles Deyo, President & CEO of Cendyn. "We have seen such incredible continued growth from both product suites and have an exciting roadmap in place for 2018 and beyond. This combined with our loyal clients benefiting from both our CRM Suite and Digital Marketing Suite every day, is a testament to the hard work the Cendyn team put in to be nominated for such prestigious awards."Cendyn's CRM Suite provides a marketing automation and guest intelligence solution that can easily handle complex interfaces, drive loyalty and leverage real-time data to provide personalized one-to-one communications for every guest, no matter what channel they came through. Using sophisticated and learned guest intelligence, Cendyn's CRM reporting, and analytics can be utilized by every department in the hotel to keep track of ROI and revenue growth.Cendyn's unique Data-Driven Digital Marketing Suite enables hoteliers to learn about and target their most valuable guests more than ever before. By targeting the right guests, at the right time, with the right message, hoteliers are able to cut through the noise of the crowded hospitality industry with personalized multi-channel campaigns that showcase and drive awareness of your brand.Using data to pave the way in how hoteliers communicate with their guests has revolutionized how they can learn more about guests' interactions, drive direct bookings, maintain brand presence with their most valuable guests and stay competitive in their market. Cendyn's CRM and Digital Marketing Suite enables hoteliers to keep their guests at the forefront of what they do, and concentrate on providing exceptional, personalized customer service at all times.VOTE FOR US!About World Travel AwardsWorld Travel Awards was established in 1993 to acknowledge, reward and celebrate excellence across all key sectors of the travel, tourism and hospitality industries. Today, the World Travel Awards brand is recognised globally as the ultimate hallmark of industry excellence.

Compelling Topics at Upcoming HTNG European Conference

HTNG 12 October 2017
HTNG announces session information and speakers for next month's 2017 European Conference on 7-9 November in Prague.The first two days of the conference will be filled with general sessions and concurrent breakout sessions. On the third day, the agenda will conclude with hoteliers-only sessions. HTNG conferences deliver programs that keep attendees up-to-date on emerging technology issues and trends in hospitality. This conference will provide knowledge, collaboration, networking and business development opportunities to a wide range of industry professionals.Keynote Speaker: Ben Ryan, Coach, Fiji Rugby SevensAttaining Optimal Performance Through People and Technology: Ben Ryan has been hailed as a national hero after leading the Fiji Rugby 7s team to the country's first Olympic championship. He pioneered use of GPS technology in team sports, but was challenged when he went to the Fiji programme and had no technology to work with. This session will explain how using the proper tools in coaching teams can be the difference between success and failure. Ben will share with the audience his stories and experiences to illustrate how to use innovation successfully rather than simply innovating for the sake of it.Session Topics:The AI Age: How Will Machine Learning and Intelligence Impact Travel and Hospitality? In this age of AI, computing power has caught up with our vision and is now becoming reality. Kanishka Agiwal, IBM Corporation, will give the audience a glimpse into the new future and how it will affect our industry.All Systems Go: Hotel Systems Dashboards: Graeme Powell, Veridicum, will teach valuable insights of dashboards that could be integrated into a product roadmap today.Are You Ready for GDPR? Charles-Albert Helleputte, Mayer-Brown Europe, will provide a high-level overview of the new regulation and the later session GDPR: Discussion and Drill Down will answer questions and dig deeper into the General Data Protection Regulation (GDPR).Blockchain and Hospitality: This session will cover the basics of blockchain technology at a strategic level, with guidance on key variations and the applications where they make sense.Blockchain Use Cases Deep Dive: In this session, speakers will explore blockchain use cases being addressed by Winding Tree (distribution) and Currency Alliance (loyalty).Enhancing the Guest Experience with Central Authentication: Chris Headings, Sunray, will explain how to deploy centralized authentication to hotels, while maintaining security best practices and leveraging the infrastructure already owned.How to Get Started with Blockchain: This session is targeted at front-line leaders of development organizations to provide tips and tricks for key decisions to make, what resources are available and common pitfalls.How Virtual and Augmented Reality Will Change Loyalty & Engagement for Hospitality: Chris Ruff, Glympse, will discuss how hotel brands can use AR and VR technologies to increase brand loyalty and why it's important to implement them to differentiate themselves.Innovation Through Accelerators: This session will discuss the trend of innovation, how it is considered a key factor of future success and how companies struggle with agility, risk taking and the frequent failures that are inevitable.IT Leadership Panel: Top-level hotel IT executives will share how they see technology evolving in hotels in the coming years.Know Thy Enemy: Utilizing Machine Learning for Adaptive Security: Dobias van Ingen, Aruba Networks, will teach the audience how continuous evaluation of threats against your hotel, brand and company through machine learning can keep your guests, staff and data safe.Additional Conference Speakers:Denis Baranov, DataArtFloor Bleeker, Movenpick Hotels & ResortsMarco Correia, Belmond HotelsCharles Ehredt, Currency AllianceTed Horner, E. Horner & Associates Pty LtdYves Lacheret, AccorHotelsJens Lapinski, TechstarsBrian Lewis, OpenJaw Technologies LtdDouglas Rice, Hospitality Technology Network, LLCAndrew Sanders, DataArtFinn Schulz, Schulz ConsultingJakub Vysoky, Winding TreeFor a full agenda and up-to-date list of speakers, please visit the HTNG European Conference page.Conference registration is open to any full-time employee of a company who owns, manages or franchises a hotel or hospitality company. For all other industry participants, HTNG membership is required.

"Our Operation Is Effortless and Guests Feel It" - Success Stories By Maestro PMS Clients from Large Scale Resorts to Boutique Indies

NORTHWIND-Maestro 12 October 2017
Markham, Ontario -- One size never fits all. That is why Maestro PMS leveraged its experience of four decades in hospitality to develop a property management suite of 20+ integrated modules.Maestro adapts perfectly to large, full-service independent hotels, resorts and multi-property groups, as well as luxury boutiques.This makes Maestro PMS property software ideal and scalable for virtually any operation.Barnsley Resort is a full-service luxury destination located in the Blue Ridge Mountains 60 miles north of Atlanta."Barnsley Resort began using Maestro property software in 2001. It is an excellent system for our complex full-service luxury resort operation," said Jennifer Ball, Director of Operations."Maestro's in-depth client profiles enable us to anticipate the needs of our guests and deliver the high-touch service expected from a resort of our stature. We also use Maestro's Sales and Catering System which is fully-integrated with Maestro Front Office property software."This integration lets my staff easily create professional itineraries for guest events connected with a guest's folio for personalized event management."We will be adding a separate Inn to Barnsley's property. With our entire Resort and Inn on one Maestro platform, our operation is effortless and our guests feel it." Barnsley Resort is known for its beautiful location, championship golf course, spa, equestrian events, sporting clays and quail preserve.Warren Dehan, Maestro PMS President, said, "We developed Maestro from the ground up to manage properties of any size and sophistication."Our property management system shines when installed at complex full-service properties. It easily handles event meeting rooms, spa and property activities and guest requests that deliver personalized guest service. Maestro simplifies dynamic, elaborate packages. Its extensive 3rd-party system integration capability and flexible BI data mining tools give operators the ability to leverage guest and market information to create effective marketing and loyalty programs that increase revenue."Hotel De Anza is a boutique property in San Jose, CA, the heart of Silicon Valley."Maestro is ideal for our operation because it handles all the custom processes our boutique property needs," said Rachel Bauer, Hotel De Anza's Revenue Manager and Front Office Director. "Maestro is very reliable. This is essential for independent operators that don't have an IT person."Reliability is doubly important for Hotel De Anza because most of our guests are tech professionals with no patience for systems that don't work."When it comes to system flexibility Maestro has a team with a 'can do' attitude. This is another plus for unique single-property operations like ours." Hotel De Anza uses Maestro's Front Desk and A/R systems, and Maestro Analytics and Yield Management. The De Anza is near the Apple and Google Conference Centers and the SAP Center in San Jose.Maestro is an all-inclusive hospitality enterprise system with over 20 integrated modules that share a single database and centralized guest profile. To meet the unique needs of independent operators Maestro supports over 600 3rd party vendor integrations and maintains an open API for ease of communication with almost all preferred systems. Maestro is PCI Certified to protect independent operators and their guests.Maestro PMS delivers revenue-generating tools and services that increase profitability, drive direct bookings, centralize operations, and provide personalized guest service to keep guests coming back. Click here for more information on how to reserve, engage and socialize with Maestro PMS.About Maestro PMSMaestro is the preferred cloud and on-premise PMS solution for independent hotels, luxury resorts, conference centers, vacation rentals and multi-property groups. This PCI certified and EMV ready enterprise system offers 20+ integrated modules on a single database including web and mobile tools to increase profitability and enable operators to engage guests with a personalized experience. For over 37 years Maestro's Diamond Plus Service has provided unparalleled 24/7 North American based support and education services to keep hospitality groups operational and productive. Click here for more information on Maestro.

Registration is Now Open for the 2017 HotelTechAwards

Hotel Tech Report 12 October 2017
Registration is now open for the 2017 HotelTechAwards (www.hoteltechawards.com), the industry's only data driven awards platform that recognizes best of breed global hotel technology companies in the eyes of the judges that matter most - their customers.Companies are competing for category leadership across marketing, revenue management, guest experience, operations and sales technology. Hotel technology companies ranging from hardware to software and service businesses like digital marketing agencies are eligible for nomination.Registration closes on November 15th. Voting will take place through January 31, 2018 and winners of the 2017 HotelTechAwards will be announced on February 15, 2018."The shift to cloud has created thousands of innovative hotel technology companies and the mission of the HotelTechAwards is to reward the companies who are most beloved by their customers," says Jordan Hollander, co-founder of HotelTechReport and creator of the HotelTechAwards.Executive leaders from winning companies in each category will receive exclusive invites to HotelTechReport's "Hotel Tech Summit", an invite only executive retreat hosted at the Casa Madrona Hotel & Spa, the historic Bay Area property coined by CNBC as "the hotspot for tech elite meet". Programming for the Summit includes a private boat charter on the San Francisco Bay, winery visits, fireside chats with industry thought leaders and more."Revenue generation and operations have become very complex for hotels, threatening profitability and detracting from the customer experience. The answer lies in innovative technology solutions which can disrupt the disruptors. The HotelTechAwards recognize these technologies and their beneficial impact on the future of our industry." says Mark Heyneker, CEO at Revinate, one of the hotel tech industry's most recognized brands.Learn more at www.hoteltechawards.com

The Top 5 Hotel Revenue Management Trends and Changes in 2018

Xotels Blog 12 October 2017
Hotel revenue management trends move fast. The sector has evolved at a remarkable pace and is set to continue this course. It’s an exciting time to be a part of such a fast-moving industry and hotels can benefit from taking advantage of the new trends that are shaping it.Hotel revenue management trends move fast. The sector has evolved at a remarkable pace and is set to continue this course. It’s an exciting time to be a part of such a fast-moving industry and hotels can benefit from taking advantage of the new trends that are shaping it.

Crowne Plaza Hunter Valley Revolutionizes Hotel Guest Convenience with ASSA ABLOY Hospitality Mobile Access

ASSA ABLOY Hospitality 11 October 2017
Stockholm -- The Crowne Plaza Hunter Valley, an award-winning luxury resort in Australia, has successfully implemented several of ASSA ABLOY Hospitality's innovative security technologies, including ASSA ABLOY Hospitality Mobile Access, VingCard Signature RFID electronic locks and the Visionline online platform. The property, which is situated in the heart of the Hunter Valley wine region, is home to a variety of luxurious amenities, including a golf course, leisure activities and breathtaking views of local vineyards.Prior to the recent upgrade, Crowne Plaza Hunter Valley had a competitor's door lock system installed. As part of an initiative designed to reposition the property as a technologically advanced resort, management sought out innovative technologies that utilize mobile solutions to allow for keyless entry. After conducting research on ASSA ABLOY Hospitality and several other lock providers, hotel leadership opted for ASSA ABLOY Hospitality's innovative electronic locks and mobile solutions, based on its established success in the hospitality industry worldwide."ASSA ABLOY Hospitality's solutions have been at the forefront of the industry for years, allowing hoteliers to create innovative experiences while utilizing the latest technologies," says Paul Bullock, chief engineer at Crowne Plaza Hunter Valley. "We knew its mobile solutions would be able to go to work for us in a way that positioned our property as technologically advanced, in order to create a new type of customer experience while increasing property security."Since the installation, Crowne Plaza Hunter Valley has already seen significant positive results. With keyless entry, guests are now able to conveniently enter their rooms or private villas with their mobile phones, without having to keep track of a physical key. Hotel staff has also seen less guests requesting physical keys now that they have the ability to enter their rooms with a swipe of their personal mobile devices."Mobile Access is already making a difference in the guest experience, offering an innovative way for guests to access their room," adds Bullock. "It also eases congestion at check-in at peak periods, improving staff efficiency and the overall guest experience. Being among the first hotels in Australia to partner with ASSA ABLOY Hospitality in launching mobile key solutions means that we are at the cutting edge of hotel technology, and we are already seeing the benefits."Along with its convenience enhancing features, ASSA ABLOY Hospitality Mobile Access also delivers unparalleled security through its use of Seos technology that serves to assign guestrooms and create encrypted digital keys. These keys are delivered securely and kept safe within a digital vault on the ASSA ABLOY Hospitality app, so unauthorized users cannot gain access to the key or room. Digital keys are transmitted over a secure communication channel only when presented to the appropriate lock.Further demonstrating a priority on guest safety with the installation of ASSA ABLOY Hospitality's Visionline online locking solution, resort staff also now have the capability to remotely monitor all entry activity from one central location. With this feature, management can control who has access to certain areas and when. If it is ever suspected that unauthorized entry has occurred, management can remotely deactivate or restrict access, further increasing property security.For more information about ASSA ABLOY Hospitality and its comprehensive line of electronic in-room safes and locking solutions, please visit www.assaabloyhospitality.com.Media Contacts:Andrea Mane, Plan A Public Relations & Marketing, Inc., Tel: +1 (407) 905-0608, Andrea@planapr.comRiise Walker, Marketing Manager ASSA ABLOY Hospitality, Tel: +1 (972) 692-3167, Riise.Walker@assaabloy.com

Two Roads Hospitality Selects NAVIS to Optimize Direct Channel Revenue

NAVIS 11 October 2017
BEND, Ore. -- Following a comprehensive review of available technology solutions, Two Roads Hospitality has selected NAVIS as their preferred partner for optimizing reservation sales and marketing. NAVIS, currently being used by 16 of their client properties, today announced that they have entered into an expanded business alliance which will benefit Two Roads Hospitality's collection of truly individual hotels, resorts, and vacation residences.Recognizing the positive impact of working with NAVIS, Two Roads has negotiated a preferred partnership which includes customized packages for their properties. Since initially partnering with NAVIS, Two Roads Hospitality's properties have added many millions of dollars in incremental revenue.According to Kathleen Cullen, Senior Vice President of Revenue and Distribution at Two Roads Hospitality, NAVIS' innovative technologies, industry expertise and highly personalized approach have all exceeded expectations. "We've seen over $13M in incremental outbound revenue, captured almost 32K email addresses from guest inquiries who didn't book, and seen an uptick of 5.5 percentage points of average conversion in just the first year of partnership. We are excited about continuing to bring more of our properties on board with NAVIS because those that are using it have been so wildly successful."The strategies that NAVIS enables Two Roads to deploy:Create new revenue streams from existing reservation demandExecute successful outbound revenue campaignsGrow and strengthen marketing databasesEliminate time spent on manual, unreliable reportingImprove reservation team productionAlign marketing to nurture reservation demand and book moreChange business mix room nights from costly OTA/flash sale channels to direct voice businessDeliver higher levels of guest serviceCullen added another important reason for growing the relationship with NAVIS was the seamless alignment. "There is an incredible synergy between their client advocates and our properties. NAVIS actually digs in and contributes to solving business challenges while helping us realize performance goals. It's like having a rock star reservation sales manager, director of revenue and operations director all rolled into one. This is something that definitely differentiates NAVIS."Working with hundreds of hospitality brands and recognizing a need, NAVIS created a new category of software designed to help hotels, resorts, and vacation rentals improve reservation sales and marketing teamwork, drive more profitable direct bookings and extract more revenue from existing demand. The NAVIS system integrates with every major PMS, is 100% cloud-based and complies with the highest-level compliance certification.Kyle Buehner, CEO of NAVIS adds: "We are honored that Two Roads Hospitality has chosen us as their preferred partner, and are excited that property teams across their portfolio will be using our innovative technology to increase direct revenue. They are a visionary partner, and we look forward to contributing to their success on an even grander scale."NAVIS has recently identified an all-new channel strategy that's disrupting the status quo and designed to double bookings. To learn more please click here or visit https://learn.thenavisway.com/open-ebooks/direct-bookings-the-holistic-approach.

Which came first: the forecast or the price?

IDeaS Blog 11 October 2017
This is right up there with the philosophical riddle, “which came first, the chicken or the egg”. As a metaphor it provides lively conversation and debate, even when the answer may not be as straight-forward or absolute as one would hope.

How Hotel Technology Helps This Historic Hudson Valley Inn Do Everything From Feeding Their Geese to Turning Their Rooms

ALICE 11 October 2017
Historic Hudson Valley bed and breakfast, Buttermilk Falls Inn, has selected ALICE's staff communications platform to improve employee communication and coordination across the 75-acre estate. ALICE is the hospitality industry's leading operations technology, connecting every department of the hotel with one platform for all staff communication and guest requests. ALICE recently acquired concierge software provider GoConcierge to augment its technology and customer service offering.Although the Buttermilk property had modernized and expanded its offering many times since erection of the main inn building in 1764 (recent additions include a world-class spa, a renowned farm-to-table restaurant, more accommodations, and a popular event space), improvements to the Inn's technology infrastructure had not kept pace. Prior to implementing ALICE, the Inn's staff relied primarily on walkie-talkies to relay tasks and updates to one another. Not only were there often not enough walkie-talkies to go around, but the property's vast size and topography (a mix of elevations and trees) made communication by walkie-talkie unreliable. Other ways of communicating guest requests and keeping records, like verbal communication (which was easily forgotten) and paper logs (which could be lost or not consistently updated) were similarly fallible. An ailing Property Management System made matters even worse.Now, with all staff departments using ALICE, communication and task management at the Inn has improved substantially, says CJ Hartwell-Kelly, Buttermilk's General Manager. These improvements are evident in the level of service the Inn can now provide its guests, she adds. ALICE is ideal for her property, she tells us, because despite only having 18 guest rooms, the Inn has a large staff (upwards of 100 during peak season) and a substantial number of facilities under management that were previously difficult to align without such a robust communications toolset. (These facilities, befitting of this rural idyll, include an organic kitchen garden and orchard, aviary, apiary, working farm, and livestock barns for the Inn's animal rescue activities.)ALICE has additional benefits for Buttermilk beyond aligning staff on property. The Inn happens to own its own laundromat off-site, and Hartwell-Kelly is pleased that she can now coordinate laundry pickups and dropoffs at both locations through ALICE, thereby streamlining necessary oversight. The GM and her staff also appreciate ALICE for its ability to carve out paper waste and unnecessary printing, which aligns with Buttermilk Falls' commitment to sustainable practices. "ALICE has helped us in all the ways I expected it would and more," says the GM.

Taking back control

By Fernando Vives and Ana Morillo
Does the hotel industry have a firm grip on the issue of cancellations? As NH Hotel Group's Fernando Vives and Ana Morillo explain, if a customer makes multiple advance bookings and only takes a last-minute decision which hotel to actually stay at based purely on price, then factors such as our brand power, customer loyalty, and the guest experience are being left out of the decision making process. Ultimate result: the reinforcement of the commoditization of the hotel business. They argue that we need to take steps as an industry to tackle the issue.

Pivot Hotels Expands IDeaS' Proven Revenue Management Technology to Multiple Properties

IDeaS 11 October 2017
MINNEAPOLIS -- IDeaS Revenue Solutions, the leading provider of revenue management software solutions and advisory services, is pleased to announce the expansion of its relationship with Pivot Hotels and Resorts, the luxury and lifestyle operating division of Davidson Hotels and Resorts.With a growing collection of independent and soft-branded properties within their portfolio - and a partnership with IDeaS spanning back to 2014 - it was an easy decision for Pivot Hotels to continue their trusted relationship with IDeaS.With one of their current properties already leveraging the flagship IDeaS Revenue Management System (RMS), Pivot Hotels selected IDeaS G3 Revenue Management System (IDeaS G3 RMS) for several more of their properties. "We are very excited to transition a number of our hotels to this new, robust system," says Patricia Davis, vice president of sales, marketing and revenue management for Pivot Hotels. "We look forward to the increased customer insights and robust pricing decisions that the advanced SAS analytics can provide."IDeaS' revenue management expertise and leading technology were the best long-term option to empower Pivot Hotels to continue growing. The company is projected to open 5-7 new properties each year and needed a solution that enables each property to make strategic, profitable business decisions."Our greatest excitement is seeing what IDeaS does best: making our shoulder dates stronger. Many of our hotels have an untraditionally longer length of stay, and we look forward to having IDeaS transition those dates from need into high peak days," Davis added."We are proud that our existing relationship with Pivot Hotels has created such a strong platform of trust with IDeaS and our analytics," explains Jane Stampe, the managing director for IDeaS. "Working closely together, we are excited to bring their revenue strategy to a new level for the most profitable results."Read more about this evolving partnership.Tweet this news: @IDeaS_RevOpt expands partnership with Pivot Hotels & Resorts with leading #RevenueManagement tools and services www.ideas.com/about/newsAbout Pivot Hotels and ResortsPivot Hotels & Resorts, the lifestyle and luxury division of Davidson Hotels & Resorts, operates with a deep-rooted passion for continuous innovation, exceptional service delivery, revenue generation, inspired marketing and financial responsibility. Constituted by some of the most accomplished leaders in lifestyle hospitality, Pivot Hotels & Resorts caters to today's experience-seeking, adventure-minded traveler through inspiring design, thoughtful service, and one-of-a-kind experiences at each of its hotels and resorts. Pivot Hotels & Resorts operates eight hotels and resorts across the US with two more in development in Chicago and Nashville. More information may be found at www.pivothotels.com.About IDeaS With more than 1.5 million rooms priced daily on its advanced systems, IDeaS Revenue Solutions leads the industry with the latest revenue management software solutions and advisory services. Powered by SAS and with nearly three decades of experience, IDeaS proudly supports more than 9,500 clients in 111 countries and is relentless about providing hoteliers with insightful ways to manage the data behind hotel pricing.IDeaS empowers clients to build and maintain revenue management cultures - from single entities to world-renowned estates - by focusing on a simple promise: Driving Better Revenue.IDeaS has the knowledge, expertise and maturity to build upon proven revenue management principles with next-generation analytics for more user-friendly, insightful and profitable revenue opportunities - not just for rooms, but across the entire hotel enterprise. For more information, visit www.ideas.com.

Hospitality Pricing Differentiators: How to Determine Hotel Room Prices

The Rainmaker Hospitality and Gaming Blog 10 October 2017
In the hospitality realm, pricing is the revenue manager’s tool for exerting control over how and when rooms are sold to consumers. Every room on every booking date is an opportunity for managers to set unique prices that will maximize net revenue. Pricing should be holistic, comprising not only room pricing but the potential total spend of the visit.

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