NextGuest Digital | September 30, 2019
Budgeting season is a time to analyze your hotel’s marketing and technology initiatives from the previous year and set a new plan in action to start off 2020 on the right foot. When putting together your budget, think about upgrades your property needs to make regarding your digital technology and marketing strategy. It’s important to have an idea of where the industry is heading and keep forecasted trends for the upcoming year in mind when deciding how you want to allocate your marketing dollars. Budgeting should be looked at as more of an action plan to give your hotel a clear picture of where your money will be going each month and ...
Magnus Friberg | October 1, 2018
By Magnus Friberg Autumn isn't the only season that is taking shape right now — for hoteliers, budget planning season is fast approaching. Budget management is always top of mind for hoteliers, but no time more than now, as CFO's and Controllers work to predict expenses and allocate spend for the upcoming year. The question on everyone's mind becomes — where will 2019 investments go? Renovations? Technology? Staffing? Marketing? FF&E? During the budgetary process, there are a number of variables to consider. Primarily, hoteliers tend to focus on guest-facing CAPEX initiatives in the form of property updates — think...
Gary Isenberg | November 9, 2017
By Gary Isenberg As summer tumbles into fall, hotel asset managers grapple with the annual challenge of reviewing and approving budgets for their hotel or hotels. As they leaf through page after page of a budget submitted by management and cobbled together with input from all facets of hotel operations—from housekeeping and food and beverage to maintenance and marketing—asset managers ought to look beyond the spreadsheets and revenue projections to conclude whether they are reading a great story. In the case of a hotel budget, the tale being told is that of the asset's revenue goal for the coming year and how it will achieve...
Hotels Should Already be Planning Their 2018 Summer Marketing Campaign, According to Industry Experts
Magnuson Worldwide | October 10, 2017
London UK/Spokane WA - October 10, 2017 - High season might have just drawn to a close but hotels should already be planning their marketing campaign for 2018, hospitality expert Magnuson Worldwide says. In a highly competitive sector, independent hoteliers are often too busy focusing on other areas to really put the time and resources necessary into effective marketing strategies. But they have the power to transform a hotel and deliver greater success. The summer months bring a huge number of opportunities for boutique hotels looking to expand their current customer base, with many local areas playing host to events and festivals. How...
the Author & HeBS Digital | August 23, 2017
A quick look at macro and micro travel trends in preparation for the fall budget planning season By Jason Price, EVP, HeBS Digital Budget season is fast approaching and next month HeBS Digital will publish its annual Smart Hoteliers' Guide to Budgeting for 2018. This popular guide provides hotel marketers with a blue print on where, what, and how for driving the direct online channel and shifting share away from the OTAs. The planning process should take a macro and micro view of the travel economy because the broader market does affect the economic conditions of your local and regional destination. Moving into 2018, travel supply a...
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