The balancing act: The symbiotic relationship between hotel asset management and revenue optimization As we view this unique relationship between owner representatives and revenue leaders, let’s explore why there are still silos today, discover ways to overcome the communication gaps, and better understand how the two groups can take advantage of the strengths each brings to the table to fully optimize the asset value. Navigating challenges of AI and maximizing value in the service sector Artificial intelligence is revolutionizing not only traditional sectors but also reshaping the very esse ..read more

The future of luxury experiences: Where luxury meets hospitality The luxury industry is undergoing a phase of transformation. While in the past few used to buy luxury items, many more people are now spending their money on high-end brands. Evidence of this can be seen, for example, with the French fashion house Hermès. The market value of Hermès was $199 billion at the end of August. That's over 28% more than the $155 billion Nike brand. Of course, Hermès products are much more expensive, but Nike is a very popular brand and most people have a Nike T-shirt, pair of sneakers or gym bag in ..read more

2023 European hotel transactions HVS discusses the main hotel transactions that took place in 2023 and looks at the trends in single-asset and portfolio transactions over the years. Gaining control of utility costs Over the past four years, utility costs at U.S. hotels have increased at a pace greater than total operating revenue. As a result, utility department expenses increased from 2.9 percent of total revenue in 2019 to an estimated 3.3 percent in 2023. As hotels have struggled to recover from the pandemic, any rise in cost ratios is an area of concern for owners and operators. The good ..read more

The risks of ignoring revenue management’s budget advice Our Industry Expert Panel exists out of professionals within the hospitality & travel Industry. They have comprehensive and detailed knowledge, experience in practice or management and are forward-thinking. They are answering questions about the state of the industry. They share their insights on topics like revenue management, marketing, operations, technology and discuss the latest trends. How to manage cultural diversity in hospitality - A quick guide In this article, we’ll explore some of the many benefits of cultural diversity ..read more

The Benefits of a Small Hotel Management Company The benefits of a large hotel management company may seem obvious. However, when choosing a management company for your hotel, consider looking beyond the obvious and evaluating whether a more personalized and strategic approach is appropriate for your hotel investment goals. This article outlines the benefits of selecting a small hotel management company for the day-to-day operation of your hotel. ITB Berlin 2024 Hotelier's Recap AI innovations took center stage at ITB Berlin highlighting a transformative shift across the hotel industry towar ..read more

Can ChatGPT replace human-created hotel marketing content? Today we are dealing with digitally-savvy, experienced travelers. The prevailing thinking is: If the hotel hasn't invested in describing well their property, services and amenities so that I feel intrigued and engaged, just imagine what state the property itself is in! In the same time, creating this original, authentic, enticing and believable marketing content is expensive. You need professional storytellers - copywriters who are expensive to employ or hire - to tell the hotel story. The question is, can hoteliers replace human cont ..read more

Why high-tech and high-touch is the only way forward in hospitality? Whether hoteliers like it or not, the hospitality industry is moving from low-tech and high-touch to high-tech and high-touch. But what kind of high-touch? Fewer, well-trained and well-paid employees using technology to provide stellar service. Service, which currently the poorly paid and trained employees, overwhelmed by labor shortages and mundane, repetitive tasks simply cannot provide. The question is, how can hoteliers use technologies to reduce their staffing needs and afford to pay their employees living wages, train ..read more

Visuals in vogue: Revolutionizing hospitality & travel marketing Nowadays, travel advertising posters have been replaced mainly by digital pictures and videos. Still, it is worth noticing that the creators of today’s visual representations of travel are also very different from artists such as Dali. Indeed, thanks to social media and streaming platforms, pictures and videos are ubiquitous in our lives. Consequently, creating visual representations, including ones for traveling, is no longer proper for artists or advertisement experts but is within the reach of anyone with a social media a ..read more

Hotel call center 101: Elevate the guest experience and drive direct bookings A hotel call center introduces customers to your property. It’s the first impression that will set the tone for your guest experiences. That’s why it’s important to have an effective hotel call center that answers questions quickly, books reservations consistently, and resolves issues satisfactorily. Let’s explore the inner workings, top challenges, and invaluable tips for building a successful hotel call center that wins business and generates revenue. Hotel brands: Who owns what? This comprehensive guide breaks d ..read more

Hyper-Personalization: the future of hotel marketing Modern consumers expect personalized experiences in many aspects of their lives - from online shopping to streaming services - making it very important that hotels find ways to offer the same level of personalization that travelers expect in their next hotel stay. Due in part to the advances of marketing technology and the wealth of customer data available due to online bookings, hyper-personalization has come front and center, as a must-do for hotels to secure more bookings, encourage repeat customers (more revenue!) and boost ongoing prof ..read more