Leading Through Change – Be the Spark!
Jeff Bzdawka | April 7, 2022
Amadeus Unveils Five Defining Trends for the US Group Travel and Events Industry in 2022
Amadeus | April 6, 2022
Revenue Strategies
Duetto Delivers New Rate Management Experience
Duetto | May 25, 2022
The software as a service provider of revenue strategy solutions rolls out several innovations to its award-winning GameChanger revenue optimization application. San Francisco, May 25, 2022 - Duetto, hospitality’s leading software as a service provider of revenue strategy solutions, announced today a series of new features for GameChanger, its award-winning revenue optimization application. The New Rate Management Experience (NRMX) features are designed to enable revenue teams to work more strategically, consolidating all rate publishing pages into one single, unified view. “We’re excited to unveil new features to improve the...
The Title and Role of Revenue Manager Should Be Transitioned to “Revenue Generation Manager”
Doug Kennedy | May 18, 2022
By Doug Kennedy If you asked most hoteliers to write up a job description for the position of Revenue Manager (RM), chances are the responsibilities listed would focus on controlling and “managing” revenue, as opposed to generating it. For example, the first tasks that most will think of would likely be setting rates and restrictions for transient segments, determining channel mix, calculating revenue-per-guest opportunities by segment, managing OTA’s and other electronic distribution channels, and providing sales staff with quotes for groups and functions. It is time for the lodging industry to reimagine both the title and role...
International Youth Convention Hotel Increases Room Revenue by 8.64 Million RMB After One Year With IDeaS
IDeaS | May 18, 2022
IDeaS Consulting helps build revenue culture within the International Youth Convention Hotel leading to revenue growth of 8.64 Million RMB Beijing — May 18, 2022— IDeaS, the world’s leading provider of revenue management software and services announced today that its partnership with the International Youth Convention Hotel in Nanjing, China, was able to grow all revenue related KPIs during a difficult COVID environment and revenue increased during the past 12 months by 8.64 million RMB. IDeaS provided extensive revenue management consulting services and implemented G2 RMS at the hotel. Revenue management is not only important dur...
Knowland’s Meetings and Events Report Indicates 323 Percent Increase Over April 2021
Knowland | May 4, 2022
Meeting’s volume shows signs of continued momentum as the industry recovers ARLINGTON, Va. — May 4, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released its monthly meetings and events data for April with a significant increase of 323 percent over April 2021. Despite the normal cooling factor of the Easter holiday, there was still a 3.7 percent recovery of events from March to April 2022. • Average attendees greater than 2019 levels – Attendees were ahead of 2019 levels for April with the average number of attendees per event at 118, compare...
Zoox Smart Data Approaches 30 Million Online Traffic Connections for Q1 2022
Zoox Smart Data | April 29, 2022
The results for the period from January 2022 through March 2022 continue to prove the reach and effectiveness of the data collection and strategic marketing platform from Zoox. ALPHARETTA, GA – APRIL 29, 2022 – Zoox Smart Data (“Zoox”), an international provider of technological solutions that harness big data to build customer profiles from existing Wi-Fi networks, today announced its internet traffic results for Q1 2022. Guests connecting to hotel Wi-Fi networks enhanced by Zoox reached just under 30 million connections, further showing the reach that hotels around the world have with their current targeted marketing efforts. ...
myDigitalOffice Expands Platform to Now Include Revenue Intelligence Data With Acquisition of Focal Revenue
myDigitalOffice | April 28, 2022
Hotel performance management leader myDigitalOffice acquires Focal Revenue to bring additional visibility across hotel portfolios with curated hotel revenue insights. Bethesda, MD, April 28, 2021 / myDigitalOffice, the world’s fastest-growing hotel performance management platform, today announced the acquisition of Focal Revenue, a hospitality revenue intelligence software company. With this acquisition, myDigitalOffice significantly expands its capabilities to offer more granular hotel revenue insights while bridging the gap between sales, marketing, and revenue teams. Focal Revenue is the industry's only business intelligence soluti...
IDeaS and RMS Cloud Enhance Technology Partnership to Further Automation of Pricing Decisions
IDeaS | April 20, 2022
Two hotel technology leaders work together to optimize revenue for all hotels Singapore—April 20, 2022—IDeaS, the world’s leading provider of revenue management software and services, and RMS Cloud, a provider of property management software and scalable technology for the hospitality industry, have today announced an enhanced partnership to maximize occupancy and increase revenue for hoteliers through an advanced technology integration that provides superior visibility into rate strategy and drives smarter decisions to achieve greater revenues. Through this partnership, IDeaS and RMS Cloud have built a two-way interface between R...
UpStay Continues Global Growth Momentum With Expansion Into North American Hospitality Market
UpStay | April 19, 2022
Leading provider of advanced upselling technology to unlock new revenue streams for North American hoteliers with industry’s first risk-free yield enhancement platform. TEL AVIV, ISRAEL & NEW YORK, APRIL 19, 2022, — UpStay, a leading provider of advanced ancillary upselling technology solutions for the hotel industry, today announced the expansion of its global operations to serve the revenue growth and experience-enhancing needs of hoteliers throughout the North American market. Benefitting from a leading presence in several international markets, UpStay’s entry into North America follows an aggressive company growth strategy t...
For Hotels, Revenue Is the Sprint, Profit Is the Marathon
HotStats | April 18, 2022
Usain Bolt is a sprint legend. At 9.58 seconds, he holds the world record in the 100 meters, making him the fastest human to ever put on running shoes and garnering the well-deserved nickname “Lightning Bolt.” The short time it takes to go 100 meters differs vastly from the longer time it takes to run a marathon. The 26.2-mile stretch is typically completed in a little more than two hours by champion distance runners. In the hotel industry, revenue is a sprint and profit is a marathon. For a runner like Bolt, all that matters is running fast—the revenue. So when the gun sounds, all he cares about is getting to the finish line as q...
Hospitality Financial Leadership: Why Your Hotel Needs a Daily “Pick-Up” Report
David Lund | April 18, 2022
By David Lund You might be reading this and saying to yourself, “Well, for sure every hotel needs a daily pick-up report.” But I bet you would be surprised how many hotels do not use their pick-up report and or they do not use it properly. They are missing the financial opportunity that a good strategy around the daily pick-up represents. I have never and will never profess to being any kind of an expert at hotel revenue management. I strictly see myself as a novice. The purpose of this piece is to point out how to use the daily pick-up report to inspire and invigorate your leadership team around the financial aspects of your busine...
Rating Rate: How Hoteliers Made the Right Decisions This Time Around
HotStats | April 7, 2022
One of the bright spots for the hotel industry amid the pandemic was the ability to hold—if not drive—average daily rate, particularly in leisure-led, drive-to markets. It is something that evaded hoteliers during prior calamities, including 9/11 and the Global Financial Crisis of 2008, when hotels slashed rates in an attempt to win back demand. It proved a faulty strategy. But understandable: The knee-jerk, common-sense reaction to depletion of demand is to do whatever it takes to offset that reduction. That means filling rooms by any means and the biggest lever hoteliers have at their disposal is rate. The problem with that move is t...
Leading Through Change – Be the Spark!
Jeff Bzdawka | April 7, 2022
Inspiration for Global Meetings Industry Day By: Jeff Bzdawka, CEO Knowland To recognize Global Meetings Industry Day, it seemed appropriate to speak about our industry recovery and the importance of embracing a leadership style that offers encouragement, especially during periods of ongoing uncertainty. We kicked off 2022 with great hope of a return to a near-normal year. Unfortunately, as world events unfolded around us, we found ourselves once again wondering if things would ever return to normal. Or even what “normal” means today. As industry leaders, however, it is our job to avoid getting caught up in the onslaught of negat...
Amadeus Unveils Five Defining Trends for the US Group Travel and Events Industry in 2022
Amadeus | April 6, 2022
• Forward-looking on-the-books hotel group occupancy rates for 2022 in the US already match the total made in 2021, and outperform 2020 • Data points to significant uptick, particularly in unique markets, but bookings will be smaller in both size and value with shorter lead times As hoteliers evaluate their group business opportunities for 2022, a new report from Amadeus combines hotelier insights with Amadeus business intelligence data to reveal the key trends that will guide the group travel and events market in the year ahead. According to Amadeus’ Demand360® data, 2022 is showing a significant rise in group travel booking ...
Knowland’s Meetings and Events Report Indicates March Meetings Up 55 Percent From February
Knowland | April 6, 2022
428 percent increase over March 2021 and significant growth for the second month in a row in 2022 marks a turning point for meetings and events market ARLINGTON, Va. — April 6, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released its monthly meetings and events data for March. Meetings volume from February to March increased 55.5 percent. Even more significant is a 428 percent increase over March 2021. Individual recovery metrics (average attendees and average space used) are level with 2019. Additionally, March 2022 achieved a 47.5 percent recovery of eve...
IDeaS RevPlan Total Revenue Forecasting Module to Be Piloted by Loews Hotels & Co
IDeaS | April 6, 2022
Hotel brand embarks on a journey beyond rooms revenue management toward total profit optimization with IDeaS MINNEAPOLIS—April 6, 2022—IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today Loews Hotels & Co will pilot the total revenue forecasting module in IDeaS RevPlan, a cloud-based tool that streamlines forecasting and budgeting processes for rooms, food and beverage, and other income. Loews has already successfully leveraged RevPlan’s automated financial forecasting capabilities for guest rooms, gaining significant time savings across its portfolio. The...
What Hoteliers Can Learn About Revenue Management From Shark Tank
Steve Lapekas | April 5, 2022
By Steve Lapekas In any industry, the measure of a brand’s success can be attributed to a number of factors, but perhaps none more important than revenue. In simple terms, a business is either profitable – or it’s not, and the ability of a company to consistently drive profit will, in many ways, determine the likelihood of its success and staying power. Let’s take, for example, Shark Tank, the popular reality TV show in which bright-eyed entrepreneurs pitch their business ideas to a panel of venture capitalists in the hope of securing investments and business advice from them. Throughout each episode, viewers are intro...
Knowland Helps Kimpton Hotels to Maximize Group Revenue
KNOWLAND | March 30, 2022
Leading data provider delivers actionable insights and market analytics to bolster meetings and events revenue growth for top boutique hotel company ARLINGTON, VA — March 30, 2022 — Today Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced Kimpton Hotels & Restaurants has renewed its long-standing relationship with Knowland. The boutique hospitality company’s executive team relies upon Knowland’s market analytics to gain insights into group business trends and help it better manage and grow its portfolio. The Knowland platform helps individual properties bet...
Hospitality Financial Leadership – Top 10 ‘MUST DO’ Separation of Duties and Controls
David Lund | March 28, 2022
By David Lund In your hotel internal controls are a mission critical element you must have up and working well to adequately safeguard your assets. If you forgo these controls, you leave yourself wide open for – and I hate to use this word – fraud. That is right. People who work for you are much more likely to steal from you if you do not protect what is yours with proper and effective controls. That fact is just the reality of being in business and the world is full of horror stories of those who trusted too much. As Theodore Roosevelt said, “Risk is like fire: If controlled it will help you, if uncontrolled it will reach up a...
Gillis Sales Reports $23M in Actual Revenue for Hospitality Clients in 2021, Increases New Business by 40 Percent
Gillis | March 16, 2022
Remote sales and training become key priorities as hotels address today’s labor shortage DALLAS, March 16, 2022 – Gillis Sales, a remote sales and training organization for hoteliers, reported today that it generated $23M in actual revenue for its client base in 2021 while increasing its client base by 40 percent since the beginning of the pandemic. These numbers indicate that hotels are seeing the benefits of investing in sales to increase profitability as travel resumes. Even as the labor shortage continues, leisure and corporate travel are increasing. To keep up with demand, Gillis is seeing an increase in business as hoteliers t...
Travel in 2022: Addressing the Demands of a New Era
Robert Rauch | March 9, 2022
By Robert Rauch This year marks an exciting point for hotels within reach of 2019 numbers. Many select-service and resort hotels fit this profile, but the majority of hotels should see great growth in 2022. What is the landscape? Threats to the Industry The greatest threats to the travel and tourism industry include new supply; Airbnb, Vrbo, and similar short-term rental companies; interest-rate increases; oil prices and terrorism. Reduction of visa issuance, global economic stability and economic growth by inflation are other concerns. Russia, China and Iran are all threats to stability in the Middle East, Eastern Euro...
Lily Country Club to Implement IDeaS Revenue Management System Ahead of Demand Resurgence
IDeaS | March 9, 2022
Newly opened Norwegian golf resort partners with industry-leading RMS provider to complete powerful technology stack LONDON — March 9, 2022 — IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today that the Lily Country Club will implement IDeaS Revenue Management System (RMS) at its 507-room Norwegian golf resort—the third-largest hotel in the Oslo area. Since opening in May 2021, the Lily Country Club has fared well with domestic leisure demand but sought an automated revenue solution to expedite its time-consuming pricing processes and maximize revenue ahead of the...
Hotel Industry Says Automation & Integration Vital to Recovery
Duetto | March 8, 2022
The latest survey from Duetto reveals nearly 78% of hoteliers will increase their investment in hotel tech in the next three years San Francisco, March 8, 2022 - The digitization of the hospitality industry has been underway for decades, but the past two years have accelerated tech adoption in hotels across the globe. Duetto surveyed hoteliers worldwide to gauge the hotel industry's sentiment and priorities regarding revenue management, revenue tools, and technology innovations. The overwhelming response was that automation and integration are seen as key to future success by the majority of those working in a hotel revenue function...
Knowland Reports Significant Growth in February Meetings Volume, Up 340 Percent Over February 2021
Knowland | March 3, 2022
Meetings increase 48 percent from January to February 2022, a significant sign the world is ready to get back to the business of meeting in person ARLINGTON, Va. — March 3, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released its monthly meetings and events data for February. Meetings volume from January to February increased 48.1 percent. Even more significant is a 340 percent increase over February 2021. Individual recovery metrics (average attendees and average space used) are now level with 2019. If the year continues at this pace, volume levels wil...
Knowland Announces Expanded Partnership With Aimbridge Hospitality
Knowland | February 23, 2022
Best-in-class management company turns to data analytics to ramp up group sales and gain a competitive advantage ARLINGTON, Va./PLANO, Texas — Feb. 23, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced today that Aimbridge Hospitality, a leading global hospitality company, has expanded its partnership with Knowland to provide access to meetings and events data for sales teams at the property level. Management companies such as Aimbridge Hospitality are turning to Knowland to increase group revenue, improve sales team productivity, and better understand ma...
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