In the hospitality industry, the crux of enhancing operational efficiency and meeting ambitious financial targets often lies in the seemingly mundane task of data aggregation. Yet, the challenge of piecing together disparate pieces of data from various systems into a coherent, actionable strategy is anything but trivial. NB: This is an article from LodgIQ, one of our Expert Partners Subscribe to our weekly newsletter and stay up to date Data fragmentation is a common headache. But a cohesive strategy can transform challenges into opportunities. Loir Kiel, longtime Chief Commercial Officer at ..read more

Perfect competition is a term used in economics to describe a market structure where many buyers and sellers interact without any restrictions, and prices reflect the actual supply and demand dynamics. This model is essential for analyzing industries and understanding how closely they follow this theoretical framework. NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date Additionally, it helps identify areas where market behaviors might deviate significantly from this ideal. Examining the hotel industry due to its complex service offerings and s ..read more

The Hospitality Industry Sentiment (HIS) survey is STR’s quarterly study capturing the experiences and expectations of travel industry professionals. This survey began in Q4 2022, and with the fifth edition completed in Q1 2024, some trends have solidified while others appear to be reversing course. NB: This is an article from STR Subscribe to our weekly newsletter and stay up to date Each quarter, we ask our global community of travel industry professionals to rate their overall business confidence over the next three months (short-term), the next year (medium-term) and the next two years ..read more

As renowned author Maya Angelou once said, “People will forget what you said, people will forget what you did, but people will never forget how you made them feel.” This sentiment is at the core of what most hoteliers strive to achieve for guests during their stays, with a keen focus on guest satisfaction remaining an essential element of any successful property’s operations. NB: This is an article from Aptech Subscribe to our weekly newsletter and stay up to date However, with technology’s growing role in hospitality optimization, the companies providing systems and solutions to hotel ..read more

In a significant move for secure online interactions, the European Union just approved a new framework for a European digital identity (eID) this past March. This development underscores the growing importance of digital identity, which encompasses secure online representations of who we are. NB: This is an article from Youverse Subscribe to our weekly newsletter and stay up to date Digital identity is key to accessing services, verifying information, and navigating the ever-expanding digital landscape. The hospitality industry has always relied on manual guest identification for security a ..read more

In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. NB: This is an article from ZRM | Zwibak Revenue Management Subscribe to our weekly newsletter and stay up to date It was understandable that hoteliers would push rate – a hotel’s goal is to maximize revenue and profit, and they had a lot of missed opportunity to make up for. People were so happy to be traveling again that they paid. Sources predict that hotels’ pricing ..read more

We have written extensively about to take your hotel to the next level. As strategy is one of the most essential parts, we would like to share with you a summary of all the top tips we provide. NB: This is an article from Xotels Subscribe to our weekly newsletter and stay up to date The Basics of Managing Revenue In our recent articles about What is Revenue Management and their Free Revenue Management Book for Hotels we explain everything in detail about what the concept of revenue management is all about. In short, revenue management as a disciplined approach that aims to increase the reve ..read more

AI is already emerging as a game changer in the hospitality industry, reshaping guest experiences and revenue strategies for hoteliers. Shifting to AI-driven platforms like chatbots, visitors expect immediate, relevant information, transforming online interactions. NB: This is an article from The Hotels Network, one of our Expert Partners Subscribe to our weekly newsletter and stay up to date This article explores the impact of these technologies on the booking journey and 2024’s hospitality landscape, based on THN’s Chief Experience Officer Michael J. Goldrich’s latest eBook on ho ..read more

In today’s dynamic hospitality landscape, effective communication with hotel guests has become more crucial than ever. Leveraging mobile messaging platforms has emerged as a cornerstone strategy for hotels aiming to enhance guest experiences and streamline communication processes. NB: This is an article from Chatlyn, one of our Expert Partners Subscribe to our weekly newsletter and stay up to date We delve into the multifaceted realm of hotel guest mobile messaging, exploring its evolution, strategies, and best practices for optimal implementation. Introduction to Hotel G ..read more

Today, more than ever, people research any service or future purchase online before making a decision because they can easily access information through many devices and channels. 51.4 % of travelers prefer to scan feedback going directly to the source – the website of the hotel. The second preferred platform for consulting feedback is Google – used always or often by 47.5% of respondents. NB: This is an article from TrustYou Subscribe to our weekly newsletter and stay up to date Why Didn’t My Guest Leave a Review? As you can see, in the age of the Internet, (the act o ..read more