How Hotels Can Increase Share of Wallet With Incremental Offers
Jos Schaap | June 17, 2021
By Jos Schaap In simple terms, share of wallet (SOW) is the percentage of a customer’s total spending that is captured by a business. For hoteliers, once a guest has made a booking, the ultimate goal is to maximize the revenues that the guest generates for each stay. The key to achieving this goal is understanding the guest’s continuously shifting mindset around cost. The potential of conversion of every purchase opportunity after initial reservation acquisition is dependent upon finding the right context to present the offer. It would seem logical that travelers are willing to spend for a better experience. In fact, a national surv...
Hersha Hospitality’s Independent Collection Partners With Duetto
Duetto | October 27, 2020
Leading hospitality investment firm selects Duetto's Revenue Strategy Platform for its collection of luxury and lifestyle hotels. San Francisco, October 27, 2020 — Hersha Hospitality Management (HHM) has deployed Duetto's Revenue Strategy Platform across its entire Independent Collection, a growing portfolio of boutique, lifestyle, and luxury hotels across the United States. HHM is one of the fastest-growing management, investment, and development firms in the hospitality sector, with 135 hotels and more than $1 billion in managed revenues. The "Independent Collection," which represents its luxury and lifestyle division, has 20 p...
ResortPass Data Reveals Daycation Guests Are the Fastest-Growing New Revenue Opportunity
ResortPass | January 29, 2020
Hotels and resorts of all types see big profits by inviting guests looking for wellness, relaxation, bleisure, romance, and family-friendly day experiences using property amenities without staying overnight Santa Monica, California (January 29, 2020) – The Santa Monica-based company, ResortPass, is at the center of an emerging daycation trend sweeping the hospitality industry. As the leading day guest program for hotels and resorts, ResortPass revealed their latest findings, validating that day bookings are one of the fastest-growing new revenue streams for properties of all types. Data released by the company indicates that ResortPas...
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