The Time is Now to Maximize Holiday Income for your Hotel Just last month, AAA reported travel volume for Thanksgiving was the highest since 2005. Nearly 50 million people traveled more than 50 miles for the holiday. That’s right, even more people are traveling in 2018 than during the height of the last economic [...]
Be Open with your Rate Management Being flexible with rate management allows hoteliers to think in creative ways that can make hotels more money. The newest iteration of revenue management; understanding the total value of the customer rather than just what they pay on rate. Time for a quick quiz. Which guest is more [...]
It’s time to cozy up to the BAR That’s Best Available Rate, of course, and by focusing a revenue management strategy around Best Available Rate, hoteliers are successfully pushing the average rate charged per room by more accurately leveraging the all-powerful supply vs. demand equation. However, to fully maximize the opportunity to charge the [...]
The hotel industry is often up against it when it comes to room rate management. There is not only revenue per available room (RevPAR) to think about, profits and the bottom line, but also about how to increase RevPAR and somehow attract and please guests at the same time, season by season, even day by [...]
Rapid new hotel development and increased renovations of older properties have transformed local and regional markets across the United States, forcing many hoteliers to consider new strategies to stay competitive. According to Lodging Econometrics, by the end of 2018, the number of hotels and rooms in the United States is forecast to grow by 2.5%. [...]
By now, you’re probably aware that in your hotels, experience is everything. That’s the guest satisfaction mantra as 2017 comes to an end. We know it, you know it, and everyone in hospitality knows this. But frankly, that’s old news. What you need to get the new year off to a great start is an understanding [...]
The new year is approaching and while your guests will be enjoying the last days of 2017 at your property, you might be spending that time planning for the coming year. From marketing strategies to revenue management, to new technologies and distribution partners, this is the time to make important decisions for 2018. So where [...]
If you’re thinking about securing a new cloud-based property management system for 2018, now’s the time to act. By making the switch now, you may be in a great position to secure a full year’s worth of data come the end of 2018. That could be essential for your business. Use that data to help [...]
With hurricanes, wildfires and other natural disasters affecting many areas of the country, it’s a grim reminder disaster can strike at any time. No matter where you are in the country, there are both inherent natural threats, and the chance for manmade catastrophes too. As hoteliers, you must be ready in times of emergency to [...]
We all know sports are a great hotel business driver. Be it the local teams, or planned tournaments, they’re both important and predictable opportunities from which to fill rooms. (see our recent piece on that here). But, all bets are off when it comes to nail biting season enders. Many times, it’s not known until [...]
