Weekly Insights. October 12, 2024

Weekly Insights. October 12, 2024

Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (Oct 6 - Oct 12, 2024).

Alex Kapichin

How to keep even the most challenging customers happy

This article highlights how emotional intelligence (EI) is key in managing difficult customers, particularly in the hospitality industry. By recognizing emotions, empathizing, and regulating responses, staff can turn negative interactions into positive outcomes. The piece emphasizes the importance of soft skills training to improve customer satisfaction, build loyalty, and reduce public complaints. EI is presented as a critical tool for fostering better human interactions, even in high-stress environments.


How AI search platforms may change travel marketing

The article discusses how AI's integration into search engines is gradually evolving rather than revolutionizing travel search marketing. Despite initial excitement, AI has only slightly shifted market shares. New AI-native search engines like Perplexity and You.com are emerging, offering detailed, "clickless" answers. However, challenges remain in transitioning advertising dollars and maintaining relevancy. While AI search is expected to grow, Google's established dominance, data resources, and extensive travel industry relationships will likely keep it at the forefront.


Uncover common hotel rate parity issues to combat disparity

This article addresses the challenges of hotel rate parity, which occurs when room rates differ across distribution channels. It explains how rate inconsistencies can erode guest trust, hurt direct bookings, and impact a hotel’s revenue. Common causes of rate disparity include unauthorized OTA promotions and technical issues in updating rates. It also offers strategies to combat rate disparity, such as improving dynamic pricing, optimizing internal processes, and using specialized monitoring tools.


Data driven revenue management for hotels

This article discusses how data-driven revenue management is transforming the hospitality industry by using real-time data and algorithms to optimize pricing, enhance forecasting, and improve guest experiences. It highlights the shift from traditional manual methods to automated systems that adjust rates dynamically and emphasizes the continued importance of human expertise in interpreting data and making strategic decisions. Combining technology with personalized service helps hotels increase revenue while maintaining guest satisfaction.


Hotel property management systems: Products and features

This article provides an in-depth overview of hotel property management systems (PMS), detailing key features such as reservations, front desk operations, housekeeping, and integrations with third-party tools. It discusses different PMS products, explaining how they enhance operational efficiency by automating tasks, managing guest data, and optimizing revenue. The article also highlights the importance of cloud-based solutions and mobile accessibility for modern hotels aiming to improve guest experiences and streamline operations.


Golf revenue above PAR and POR for hotels

The article discusses how hotels with golf amenities are increasingly driving revenue above traditional metrics like PAR (per available room) and POR (per occupied room). It highlights strategies that maximize golf-related income, such as optimizing tee times, offering dynamic pricing, and creating bundled packages that attract both leisure and corporate guests. These methods help increase profitability and enhance guest experiences, especially for resorts and hotels that rely on golf as a major revenue stream.


The crucial role of property photography in crafting a hotel's brand identity

This article highlights the importance of high-quality property photography in shaping a hotel's brand identity. It discusses how well-executed photos, including 360-degree tours, drone imagery, and lifestyle shots, can enhance guest engagement, boost bookings, and provide a competitive edge. The piece emphasizes the balance between aesthetics and accuracy, the involvement of hotel teams in the process, and the impact of social media. Emerging trends like user-generated content and real-time social photography are also explored.


Follow on LinkedIn

Disclaimer

Comments


HSMAI Academy HSMAI Academy