RezRecover by CartStack Solves $10B Problem for Hotels, Resorts: Booking Abandonment
RezRecover by CartStack | June 21, 2022
Revenue Strategies
Hotel Technology Investments Now Stronger Than Ever
Duetto | June 28, 2022
Software as a Service provider Duetto sees year-on-year record growth of 84% in rooms added as hotels embrace technology adoption and innovation to best prepare for the future San Francisco, June 28, 2022 - Duetto, the hospitality industry’s leading software as a service provider of revenue strategy solutions, has seen a rapid increase in hotels adopting its cloud-based technology solutions. Today, the company announced a record-breaking 83.8% increase in rooms signed in the calendar year 2021 versus the calendar year 2020. The record growth continues, with recent signings from all four geographic regions Duetto operates in, including...
IDeaS Introduces Channel Forecasting for G3 RMS, Delivering Pivotal Insights Into Channel Demand and Costs
IDeaS | June 23, 2022
Industry-first Channel Forecast Dashboard will help hoteliers maximize the profitability of commercial strategies MINNEAPOLIS—June 23, 2022—IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today an industry-first Channel Forecasting Dashboard for IDeaS G3 Revenue Management System (RMS), empowering more profitable decision-making across all channels. Available to clients with channel costs loaded into G3 RMS, the Channel Forecast Dashboard provides hospitality organizations with an unrivaled ability to monitor and manage channel performance and costs to better un...
Amadeus Expands Partnership with Aimbridge Hospitality with Exclusive Business Intelligence Endorsement
Amadeus | June 22, 2022
Leading, global hospitality company will use Amadeus’ full suite of industry-leading business intelligence to gain a consolidated view of global portfolio performance and enhance forecast projections based on forward-looking market insights. Today’s fluctuating markets and traveler behaviors dictate a hotelier’s need for real-time data to adapt to trends and identify every available revenue opportunity. With data spread across systems, hoteliers can sometimes experience information overload and challenges in extracting actionable insights. Aimbridge Hospitality, a leading global hospitality company managing a portfolio of over 1,5...
RezRecover by CartStack Solves $10B Problem for Hotels, Resorts: Booking Abandonment
RezRecover by CartStack | June 21, 2022
Leveraging great success in the eCommerce space, CartStack enters the hospitality industry in full force to offer best in class booking recovery solution RezRecover MINNEAPOLIS, MIN (June 21, 2022) – Hospitality and travel companies across the globe are wrestling with the multibillion-dollar issue of booking abandonment, also called reservation abandonment. Founded in 2013, the leading eCommerce sales recovery platform, CartStack, has developed RezRecover to solve this costly problem for operators of hotels, resorts, and multi-property groups. The travel industry has seen a notoriously high rate of shopping cart abandonment. Data fr...
Hotelier’s Last Untapped Potential for Profitability in 2022: Improving Website Conversions
Max Starkov | June 17, 2022
By Max Starkov Background: As the digital customer journey continues to become increasingly more complex, hoteliers need to be looking for more impactful ways to engage, convert and retain their best potential guests. Today’s typical online travel consumer is exposed to over 250,000 micro-moments a year and undertake a complicated journey of 45 touchpoints (websites, apps, content) via multiple devices before making a hotel booking (Google). Hotels are not just competing with OTAs, their competitive set, and short-term rental accommodations on platforms like Airbnb, Vrbo, Booking, they are also competing with every micro-moment that ...
Knowland and Uniguest Partner to Provide Hotels With Seamless Data Integration Across Disparate Sources
Knowland | June 16, 2022
Partnership delivers a universal interface, the Knowland Connector, to streamline data acquisition and expand the Knowland data set ARLINGTON, Va. — June 16, 2022— Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and Uniguest, a global leader in digital engagement technology, announced today a technology partnership resulting in the Knowland Connector, an innovative interface making data integration with the Knowland Platform seamless across property-level systems. The partnership addresses the ongoing challenges of complex and fragmented data across the hospitality tech...
Swire Hotels Turns to IDeaS for a Unified Revenue Management Solution Across Properties
IDeaS | June 15, 2022
Singapore — June 15, 2022— IDeaS, a SAS company, the world’s leading provider of revenue management software and services, announced today that Swire Hotels has selected its G3 Revenue Management System (RMS) to unify its group approach to revenue management across a portfolio of seven hotels globally. Swire Hotels is a group of seven properties under two brands including The House Collective and EAST, with locations in Hong Kong, the Chinese Mainland, and the United States. As a group, Swire Hotels previously approached revenue management on an individual property level, which led to different vendors and systems being used across i...
The Dewberry Charleston Sees Monumental ADR Growth & Time-Savings With IDeaS: A Case Study
IDeaS | June 8, 2022
Inside and out, The Dewberry Charleston is a manifestation of founder John Dewberry’s vision of “Southern Reimagined™.” The 155-room independent hotel was brought to life by a team of architects and designers who shared Dewberry’s mission to present Charleston, South Carolina from a uniquely personal perspective. The result is a thoughtfully imagined juxtaposition of past and present that redefines what is possible when historic preservation is paramount. A Revenue-Minded GM Dewberry’s general manager Kristie Rasheed originally joined the property as director of revenue & profit optimization during the hotel’s pre-open...
Hotel Property Taxes – An Opportunity to Cut a Cost
Robert Mandelbaum | May 26, 2022
By Robert Mandelbaum and Mark Whitney According to the March 2022 edition of CBRE’s Hotel Horizons® national forecast report, the total revenue for a typical U.S. hotel is not expected to return to pre-COVID 2019 nominal dollars until 2023. Accordingly, hotel owners and operators continue to seek ways to control expenses. One potential reduction opportunity is property taxes. Based on a sample of 3,400 hotels from CBRE’s Trends® in the Hotel Industry database, U.S. hotel property tax expenditures declined by 13.0% from 2020 to 2021. This decline put 2021 property taxes 9.9% below 2019 levels. Unfortunately, this compares u...
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...
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