Revenue Opportunities – What Can Your Hotel Do?
This week is all about the opportunities for your hotel’s revenue strategy. We’ve found benchmarks for the reservation process across the United States and Europe for you to compare your hotel to. Take a look and see where you stand!
After that, dive into one of our most-anticipated annual articles – 8 Key Revenue Strategy Trends for 2017. Our Head of Revenue Strategy has taken a look at what’s ahead. This year, it’s about using technology smartly, adopting it more widely, and keeping eyes – and minds – open.
Lastly, we found a few short guides to help you get the most from your hotel. Take a look at the guide to capitalize on website traffic, and 5 ways to use data to increase revenue!
Pick your favorite article, and dive in:
In pursuit of Triptease’s mission to help hoteliers recapture guest relationships and increase conversions on their websites, they conducted a small piece of research. They asked hoteliers across the United States and Europe to describe their current approaches and attitudes toward the reservation process.
Check out the results below, from who handles reservations to ambitions for chat bots:
Revenue managers’ drive to progress and develop brings optimism, possibilities and opportunities.
This benefits the travel industry at large, and certainly the hotel industry in particular. Tourism accounted for approximately 1 in every 11 jobs globally in 2016.
The key to how successful progression in revenue management will be lies in how well hotels embrace and adopt changes, and how quickly they do so.
Travel marketers spend a huge amount of time trying to get people on to their brand’s booking channels but should they instead spend more time improving these channels? A new white paper suggests that closing the loop is the most profitable thing marketers can do.
In 2017, it’s clear that the hospitality industry needs to prepare for even more disruptions that will unfold over the coming year. Airbnb, OTAs, start-ups, big data companies and loyalty program changes will remain the focal points to stay across this year.
As a hotel digital or revenue manager, you could get caught up in the hype, continue the passive trend of waiting for another player to make a bold move, and then take 18 months to ‘assess the opportunity.’
Innovation is the key idea that is shaping corporate life. Hospitality firms are not indifferent to the changes occurring at the level of their competitors, the fast-paced market, or emerging technology breakthroughs.
Yet, as we have argued before in previous articles, the bulk of the hotel industry is somehow lagging behind. However, a leading group of firms not only keep up with the pace of innovation, but innovate the very way they provide customers with enhanced experiences.
How do top hoteliers think, tinker with and discover a more innovative, personalized and memorable customer experience? We have analyzed several innovative approaches from leading hotels.