Direct Booking Growth Tips for the Back Half of 2024
Adam and Larry Mogelonsky | March 27, 2024
Amadeus and Duetto Expand Collaboration
Duetto | March 12, 2024
Revenue Strategies
Wherever You Go, There Is Artificial Intelligence
Klaus Kohlmayr | April 24, 2024
By Klaus Kohlmayr It’s a daily occurrence to see mentions of Artificial Intelligence (AI) throughout multiple industries, including the hotel space. And why not? AI systems can effortlessly perform tasks associated with the cognitive functions of humans, and rather than reducing jobs, AI applications seek to enhance employment opportunities. The hotel industry is one of the most promising business sectors that can leverage the power of AI. This is due to the ongoing processing of vast amounts of data to better understand the underlying demand patterns or elevate pricing strategies. AI is also a growing opportunity to improve business ...
Duetto and Shiji Enhance Integration With Folio Data
Duetto | April 18, 2024
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Will AI Replace Hotel Revenue Managers? Answering the Million Dollar Question
Andrew Rubinacci | April 17, 2024
By Andrew Rubinacci, Chief Advisory Officer of FLYR for Hospitality Never in human history have we had access to as much data as we do today. In recent years, the tools and strategies we use to process and understand insights derived from this data have become one of the hottest commodities – and with good reason. Organizations are able to harness the power of data to gain a deeper understanding of their operations, customer behaviors, and market trends, unlocking competitive advantages. Data-driven decision-making is the new normal. And while the hospitality industry has always used data in its revenue management strategies, AI can...
Cheval Collection Selects IDeaS G3 RMS at Eight Additional Luxury Serviced Apartment Properties
IDeaS | April 17, 2024
Extended stay and serviced apartment properties utilize revenue optimization to handle the complexities of varied length-of-stay offerings LONDON — April 17, 2024 — IDeaS, a SAS company and the world’s leading provider of hospitality revenue management software and services, announced today it has expanded its relationship with the Cheval Collection to a total of ten properties. Building on a strong, established relationship from successful implementations of G3 RMS at its Edinburgh properties, IDeaS’ capabilities helped clear the way for wider adoption within the Cheval portfolio. As Cheval expanded its portfolio, the managemen...
The Future of Hotel Distribution Channels: Seizing Opportunity in Channel Disruption
Jochen de Peuter-Rutten | April 4, 2024
By Jochen de Peuter-Rutten, Youri Sawerschel The hotel distribution channel landscape is undergoing a seismic shift. Online travel agencies (OTAs) that once leveled the playing field for independent properties now dominate, their economic muscle squeezing hotel margins. Metasearch engines commoditize the search experience, making standalone properties indistinguishable. Meanwhile, the growth in alternative lodging threatens hotels' grip on the accommodations sector. Yet within this disruption lies opportunity for savvy hoteliers. Emergent technologies now enable hotels to tailor the guest experience as never before. Strategic partnershi...
10 Booking Trends & Stats That Every Hotelier Should Know to Drive Guest Experience and Revenue in 2024 and Beyond
Andrew Rubinacci | April 3, 2024
By Andrew Rubinacci Many of us grew up on the precipice of a new digital era, an inflection point after which innovations seemed to multiply to uncover possibilities that our younger selves might have dismissed as fit for a more distant future—if we imagined them at all. In 2024, innovation seems to be waiting around every corner, and no industry is exempt from its influence and subsequent transformation. The hospitality industry is now in an undeniably important state of flux: a widespread upheaval of legacy processes and platforms to make room for big tech and big ideas. Although hotel service will always have traditional roots and ...
Direct Booking Growth Tips for the Back Half of 2024
Adam and Larry Mogelonsky | March 27, 2024
By Adam Mogelonsky, Larry Mogelonsky As we’re moving into Q2 2024, the peak summer leisure months will soon be upon us, which often has a tendency to impede new tech deployments. One consummate drive is the great push for a channel shift towards your own website and away from third parties, foremost among them being the OTAs. While we need drivel on about the benefits, we’re all familiar with the boost to net revenues from reduced customer acquisition costs (CAC) as well as the heightened loyalty, ability to segment or remarket and the general trend that the average direct-booking guest spends more onsite. Now, however, with the ris...
Why Democratizing Data Is the First Step to Successful Revenue Performance
Andrew Rubinacci | March 21, 2024
By Andrew Rubinacci Today, most hotels possess more data than they know what to do with. And like most businesses that have jumped on the “data-driven” bandwagon, they quickly find themselves overwhelmed by the sheer quantity of data they end up with (to the point that some of what’s collected may fly under the radar). Case in point: 2.5 quintillion bytes of data are generated every single day. And roughly 90% of all the data ever created was developed in the last two years. So, there’s definitely no shortage of data. When such a plentiful supply of data is available, why are over half of the hospitality industry’s busine...
Should Revenue Management Be Involved in Reputation Management?
HSMAI | March 18, 2024
By Monika Morrobel, CRME, CHDM, Area Director of Revenue Management, Pyramid Hotel Group, HSMAI Revenue Optimization Advisory Board Member Recognition of Reviews as Influential Decision Drivers: Consumer behavior is heavily influenced by reviews, with a staggering 95% of potential guests considering them before making a booking. Direct Correlation Between Reviews and Revenue: Even marginal improvements in positive reviews can lead to substantial revenue gains, with a mere 0.5% increase potentially translating into a remarkable 25% boost in revenue. This underscores the tangible impact of reputation management efforts on the bottom lin...
Amadeus and Duetto Expand Collaboration
Duetto | March 12, 2024
Hotel tech leaders expand partnership to deliver greater insights and efficiencies for hotel revenue teams. March 12, 2024 - Duetto, the leader in cloud-based Revenue Strategy solutions, and Amadeus, a leading global travel industry technology partner, today announce an expansion to their strategic relationship. The evolution will provide Duetto customers with seamless access to data from Amadeus' Demand360+® and RevenueStrategy360+® solutions directly within the Duetto platform, enabling hoteliers to make smarter, data-driven decisions to optimize their business. The expanded partnership will enable Duetto customers to: • Gain a...
How To Get Revenue Management Right for 2024
Ahmed Mahmoud | March 11, 2024
By Ahmed Mahmoud The hotel industry is an ever-changing landscape, like many other industries, it has been unpredictable over the past few years, especially in regards to revenue management with unprecedented growth and innovation. From advanced reservation systems to personalized guest experiences, technological advancements have played a crucial role in shaping the way hotels, resorts, restaurant and others provide their services to customers. As we approach the year 2024, it is time to look ahead and explore How to Get Revenue Management Right for 2024 with the top trends set to further transform this dynamic industry, where the sec...
IDeaS Unveils Portfolio Navigator for Multi-Property Revenue Management Automation
IDeaS | March 5, 2024
Ongoing innovation results in a powerful solution to enable efficient revenue management at scale BERLIN—March 5, 2024—ITB Booth #110 Hall 8.1 (Messe Berlin) IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today the release of G3 RMS Portfolio Navigator, the next innovation in multi-property revenue management. Portfolio Navigator provides powerful automation to identify, prioritize, and act on the most important revenue-impacting decisions. This reduces execution costs by enabling multi-property and corporate revenue leaders to deploy and manage revenue strategy q...
Hotel Brands Check Into New Verticals
February 29, 2024
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A Smarter Way to Save: 8 Ways That Hoteliers Can Increase Compliance and Reduce Annual Spend
Johannes Vocke | February 28, 2024
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Cloudbeds and IDeaS Forge Innovative Partnership to Deliver an Integrated Revenue and Hospitality Management Solution
Cloudbeds | February 27, 2024
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FLYR Hospitality and RateGain Enter Technology Partnership
FLYR | February 27, 2024
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How a Wellness Property Renovation in Tremblant Canada Boosts Revenue
Adam and Larry Mogelonsky | February 21, 2024
By Adam and Larry Mogelonsky For every Canadian living in Ontario, Quebec and eastwards, the town of Tremblant two hours north of Montreal is a ski mecca with numerous hotels, chalets, lodges and vacation rentals centered around a short strip styled like a charming French alpine town. The focus of today’s case study is the crown jewel of this village’s hospitality scene: the 312-key luxury Fairmont Tremblant. Opened in 1996, renovations are a necessary aspect of the business and to keep pace with evolving guest demands for exceptional onsite experiences. How does a flagged resort do this right in 2024? At the luxury end, it’s ...
Hospitality Revenue Management: 10 Ways To Boost Hotel Income in 2024
EHL | February 7, 2024
Despite signs of recovery in 2023, the hospitality sector's 2024 outlook is unpredictable. Deloitte's Hospitality Industry Outlook 2023 identified the hospitality sector's key challenges for 2024 as a drop in consumer confidence, continuing labor shortages, and the inability of hotels to raise prices despite escalating costs. However, by leveraging strategic hospitality revenue management, hotels can navigate these hurdles and even drive revenue growth in the coming year. While the effectiveness of these hotel revenue management strategies will vary by location, audience and the economy; here are ten effective ways to increase your hotel'...
The Importance of Lobby Renovations for the Guest Experience
Adam and Larry Mogelonsky | February 7, 2024
By Adam Mogelonsky, Larry Mogelonsky Renovations are necessary, but so is controlling expenses. This can often lead to value-engineering where every element needs a quantifiable justification towards revenue performance. And yet, hotels don’t quite work that way. Even as data scientists, revenue managers and the like extol their metrics as the be-all and end-all of operational success, true hospitality nevertheless perseveres as an artform. The lobby is one such area where emotions run high and there’s no clear line between capex and profit. Numerous properties that are already in, or aspire to be in, the hospitality hall of fame ha...
Beyond the TV: Hotel In-Room Entertainment Has Evolved
Robert Mandelbaum | February 6, 2024
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Quoting Higher Rates and Overcoming Objections Regarding Rate/Availability Restrictions
Doug Kennedy | February 6, 2024
Doug Kennedy’s Next Training Webcast; Complimentary Registration Now Open Sponsored By Travel Outlook, Better Talent, and Track Hospitality Software Register your team and participate live, or view the recording, of Doug Kennedy’s next 40-minute training webcast scheduled for Monday, February 19, from Noon – 12:40 pm EST. REGISTER HERE “As many resorts, vacation rental companies, and hotels enter the peak booking season, now is a great time to train your reservations team on tactics for successfully selling the higher rates that your revenue managers have most likely rolled out this year,” said Kennedy. Due to today’s h...
IDeaS Appoints Ibrahim Saba as Principal Sales Director in the Middle East, Expands Regional Presence
IDeaS | January 31, 2024
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AI-Augmented Decision Intelligence: The Next Paradigm Shift in Hospitality Revenue Management
Andrew Rubinacci | January 25, 2024
By Andrew Rubinacci Artificial intelligence is everywhere. It’s making inroads into practically every field of human activity. It’s integrated into search engines, word processors, and various apps likely installed on your smartphone in your pocket. And there’s a reason for the tech’s proliferation: it is incredibly adept at analyzing data much faster and at a much larger scale. In the hospitality realm, most people consider revenue management to be something that only humans can do effectively. Now, with the advent of AI, that’s no longer the case. As technology continues to advance, there is a growing trend toward enhancin...
U.S. Group Revenue Recovery in Q4 Hits 110 Percent According to Hospitality Group and Business Performance Index by Knowland and Amadeus
KNOWLAND | January 25, 2024
Group business up across key metrics in 4Q2023, providing stability for hotels going into 2024 ARLINGTON, Va. — Jan. 25, 2024 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and Amadeus, a global leader in hospitality technology, today present the metrics from the companies’ Hospitality Group and Business Performance Index (the “Index”). The fourth quarter of 2023 demonstrated that group business in 10 of the top markets in the U.S. has recovered 110 percent compared to the same time in 2019. Group bookings are calculated using occupancy and average daily rate (A...
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