loyalty
Key PMS Features Independents Must Consider Budgeting for in 2024
Warren Dehan | November 28, 2023
Six game-changing PMS capabilities hoteliers are leveraging for success in 2024 By Warren Dehan The end of the year is fast approaching. Hoteliers are setting their goals for 2024, with increased communication and transparency between departments high on their list of goals for new technology. The current state of hospitality is leading operators to embrace a fast, reactive approach to hotel management, which thrives on nimble decision-making supported by technology and light automation. Technology now exists to help hoteliers run their properties in a lean, more efficient manner than ever before—if their Property Management Syst...
Guest Loyalty Programs Provide, But They Cost
Robert Mandelbaum, Christine Bang | September 5, 2023
By Robert Mandelbaum and Christine Bang Over the years, the fees hotel owners pay to franchise companies have typically grown at a pace greater than the rise in hotel rooms revenue. Most franchise-related fees are charged as a percent of rooms revenue, and therefore, by assessing the relative changes in rooms revenue and franchise fees we can make some assumptions. In 2021, acknowledging the financial stress hotel owners faced during the pandemic, the franchise companies were sympathetic and provided some reprieve. While rooms revenue increased by 55.4% in 2021, total franchise-related fees rose by just 45.9%. Equilibrium returned in ...
Luxury Hospitality: What Makes a Luxury Hotel Today
Dr Suzanne Godfrey | July 5, 2023
By Dr. Suzanne Godfrey Luxury hospitality: what makes a luxury hotel? A palace or a 5-star hotel? Hotels around the world are often referred to as palaces or ‘grand dames’ – vestiges of a bygone era when grand hotels were associated with luxury and glamour. But the concept in its true sense is quintessentially French and in 2010 the French Tourism Office bestowed the title on establishments that met certain specific criteria. So what makes a palace different from a 5-star hotel today – or, for that matter, a 6- or 7-star establishment, although there is no official category as such? Luxury can be defined rationally based on hi...
Hospitality Industry Predictions for 2023
Laura Calin | February 15, 2023
By Laura Calin In the past year the industry has seen a strong resurgence as guests headed back to leisure vacations and business travel started to pick back up. Still, the industry does not look the same as it did before the pandemic, and now innovations that were a necessity at the height of COVID-19 have become mainstays that may never go back. As we move into 2023, we will continue to see hotels leverage technology to not only increase operational and staff efficiency, but also meet changing guest expectations for a high-value, but relatively low-touch experience. Below are the technologies that will likely continue to transform the in...
Lifespan Extension Equals Loyalty Escape Velocity
Adam and Larry Mogelonsky | November 16, 2022
By Larry and Adam Mogelonsky If you’ve spoken to either of us in the past couple years, you know that we’re very bullish on the growth of wellness for hotels. Still in its nascent years is a growing body of scientific research to support the notion of uber-wellness in the form of lifespan extension. And this can have profound implications for hotels in terms of ‘customer lifetime value’ (CLV). First, how we derived the term in the title: Escape velocity is used to describe the speed at which a rocket ship must attain in order to break through the pull of the Earth’s gravity to achieve orbit Renowned futurist Ray Kurzwe...
Accommodation Preferences: Where Do Travelers’ Loyalties Lie?
STR | September 9, 2022
A sense of normality has returned for much of the hospitality industry since the second quarter of 2022 began. Bookings in many leisure destinations are at their highest levels since 2019, and business travel is also making a steady return. While there has been a subsequent and clear lift in hotel demand, it is interesting to see how consumers have viewed hotels vs. alternative forms of accommodation over the last several months. In previous accommodation preference research conducted by STR, consumers showed improved sentiment toward hotels, identified the importance of flexible cancellation rates, and displayed higher tend...
When It Comes to Inspiring Loyalty and Direct Bookings, FOMO Marketing Is Out, and Instant Gratification Is In
Ellis Connolly | April 20, 2022
In today’s fast-paced and competitive landscape, guests have high expectations of convenience and a low tolerance for delays, gimmicks, or friction By Ellis Connelly What is the best way to incentivize behavior? This line of questioning keeps marketers and business owners up at night. Why? Because brands can’t protect their bottom line without generating revenue, and they can’t generate revenue without nudging their customer toward a desired purchase. Hospitality professionals, especially, are familiar with this challenge, as travelers are constantly inundated with options and competing product offerings at every stage of their...
Using Your Loyalty-Reward Program to Improve Word-of-Mouth About Your Hospitality Business
THE PENN STATE SCHOOL OF HOSPITALITY MANAGEMENT | February 16, 2022
UNIVERSITY PARK, PA — February 16, 2022 — New research from Penn State’s School of Hospitality Management found that companies like airlines and hotels can use their loyalty-reward programs to improve word-of-mouth about their business, both online and in the real world. Research has repeatedly validated the well-worn cliché that word-of-mouth is the best form of advertising. Today, unpaid product and business reviews on sites like Yelp and TripAdvisor constitute a digital form of word-of-mouth that is more important than ever to the success of businesses. Anna Mattila, Marriott Professor of Lodging Management in the School of Ho...
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Today's News
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