|July 2004 - Considering all current channels
of distribution available to hoteliers today, the internet may be the most
powerful if managed correctly.
In today’s internet savvy community, online travel sites are quickly replacing the role of the traditional travel and reservation agents. A trend first realized in North America, it is now spreading rapidly to Europe, South America and other continents around the world. The internet simply affords most consumers a more efficient booking tool for assessing a hotel’s value, hence the recent dramatic shift in the way consumers do business.
Given the need for hotels to aggressively market themselves on the web, it is not uncommon in a competitive market for a hotel to work with big, medium and small travel websites alike. Such practice is identical to five years ago when hotels would work with big, medium and small travel agencies. If your hotel does not show up on a travel website the consumer can not book it. Thus, for aggressively marketed hotels, it is not uncommon for them to work with 5, 10, 20, 30 or more online travel distribution channels.
Top Five Sure-Fire Hotel Revenue Killers:
1. RATE PARITY OR RATE INTEGRITY ARE QUESTIONABLE OR INNACURATE - When a consumer or meeting planner finds a different rate for your hotel on every website they begin to wonder WHY, as well as question the integrity of both the hotel and the online travel website. This will surely turn business away from your property today and possibly into the future as well.
2. POOR SITE PLACEMENT - Failure to develop a strong relationship with each travel website’s market manager will most likely leave you off the front page of their website. How often do YOU look past the front page? MOST IMPORTANTLY --- how often do YOUR customers look past the front page?
3. FRUSTRATION WITH THE CURRENT YIELDING PROCESS, CAUSING RESISTANCE TO YIELD - Hoteliers are not yielding their online travel websites as often as they should, because the current yielding process can be extremely overwhelming. However, more frequent yielding will increase awareness, which will immediately lead to more money for the property’s bottom line. Infrequent yielding will leave money on the table.
4. UNAWARENESS OF EACH WEBSITE’S MARKUPS AND PRICE ROUNDING METHODS - Markup awareness must be part of your strategy. Many hotels managing travel sites only have a general notion of how each website calculates markups. Lack of attention to such a critical detail can be financially devastating to your hotel’s financial performance. Look on your contracts or ask your market managers about their website’s markup and rounding methods, specific to your hotel.
5. LIMITED ONLINE EXPOSURE, NOT APPEARING ON ENOUGH WEBSITES - Do NOT restrict the number of websites your property uses. Hotels who are overwhelmed with the amount of websites they currently deal with do not want to add any more --- however; limited exposure results in limited bookings. Simply put, if the internet consumer finds your competitors, but cannot find your hotel on an online travel website, they will not book at your hotel. More websites equals more business.
Amazingly, today’s hotels can obtain and manage increased internet exposure through hundreds of websites, as well as maintain accurate and competitive Rate Parity through the use of the EZ YIELD.COM channel management system.
EZ YIELD.com™ provides the hotel the ability to Simultaneously Update Rates, Allotments and Inventory Restrictions on ALL of their Internet Wholesalers.
IT’S as EASY as 1, 2, 3
LEARN MORE ABOUT EZ YIELD.com™, and see a LIVE DEMONSTRATION at www.ezyield.com.
Henry Danish, CEO and Co-Founder of EZ Yield.com stated that “EZYIELD.COM is proud to set the standards and committed to be the innovators and leaders in the online travel website management industry.” “EZYIELD will allow you to manage more online channels and spend less time doing it. Save your time and drive your sales. It’s that EZ.”
About EZ Yield.com:
|Also See||CHIP Hospitality Manages Online Travel Distribution Channels with EZ Yield / June 2004|
|Meet The Gold Standard to Manage ALL Online Travel Websites – EZ Yield.com, Inc / June 2004|
|A Cinderella Story - EZ Yield Evolves from the Garage to The Standard in Online Distribution Channel Management / June 2004|
|Have You Hugged Your Travel Website Market Manager Today? / June 2004|
|Affinia Hospitality of New York Finds the EZ Solution to Managing All Those Travel Websites / May 2004|
|Is Your Hotel’s Online Revenue Falling Behind? Learn the 5 Basic Steps to stay ahead / April 2004|
|Top Ten Pitfalls for Hoteliers To Avoid When Managing Online Travel Sites / March 2004|
|Hoteliers Aggressively Maintain Rate Parity through Multiple Distribution Channels / March 2004|
|How Can I Efficiently Manage All Those Travel Sites? 5...4...3...2...1...DONE!!! / February 2004|
|How do I Successfully Manage All These Extranets - Top Hoteliers Find A Way / February 2004|
|Top Talent Flocks to EZ Yield / December 2003|
|EZ-YIELD™ Signs Mutual Marketing Agreement with First Internet Travel d.b.a. 1800USAHotels.com / October 2003|
|Interstate Hotels & Resorts Finds the Solution to Managing All Those Extranets / October 2003|
|How do I Successfully Manage All These Extranets - Top Hoteliers Find A Way / June 2003|
|EasyRMS Ltd. & EZ Yield.com Form Strategic Alliance and On-line Product Integration / April 2003|
|New Internet Tool Boosts Online Revenue, Exceeds Hoteliers’ Wildest Expectations / Sept 2002|