Weekly Insights. April 20, 2024

Weekly Insights. April 20, 2024

Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (Apr 14 - Apr 20, 2024).

Alex Kapichin

The balancing act: The symbiotic relationship between hotel asset management and revenue optimization

As we view this unique relationship between owner representatives and revenue leaders, let’s explore why there are still silos today, discover ways to overcome the communication gaps, and better understand how the two groups can take advantage of the strengths each brings to the table to fully optimize the asset value.

Artificial intelligence is revolutionizing not only traditional sectors but also reshaping the very essence of hospitality and service industries. The potential for transformation is vast, yet it's imperative to advance cautiously, striking a delicate balance between technological advancement and preserving the human touch, which remains the cornerstone of the service sector. As we navigate this paradigm shift, let's try to understand the boundaries and challenges of AI application and adhere to strategic investment guidelines. Doing so not only unlocks the boundless potential AI holds but also addresses the legitimate concerns facing many stakeholders in these industries.

AI is already emerging as a game changer in the hospitality industry, reshaping guest experiences and revenue strategies for hoteliers. Shifting to AI-driven platforms like chatbots, visitors expect immediate, relevant information, transforming online interactions. This article explores the impact of these technologies on the booking journey and 2024's hospitality landscape.

Hotel Revenue Management: 3 mistakes you should avoid when benchmarking

As a revenue manager, you know that assessing your hotel's performance is crucial to staying competitive in your market. But how do you know if you're truly keeping up with the competition? This is where benchmarking comes in.

Pricing strategies & tips for independent hotels

When it comes to managing hotel revenue, it’s important to recognize that different travelers will pay different prices for the same room under different circumstances. Rather than offer the same price to everyone, then, hotels should strive to charge the right price to the right guest at the right time. 

Here are some key pricing strategies to consider.

How to attract bleisure travellers to your hotel

Read this blog as we walk you through the ins and outs of bleisure travel and help you make some good revenue out of this rapidly growing segment.

The revenue management guide to room rate profitability

Revenue management is the science of annual profitability increases. It’s a complex process that considers demand, fixed and variable costs, and the hotel’s online reputation before establishing room rates. Revenue management isn’t siloed. It looks at data across departments and understands the context for those numbers.

In this article, you’ll better understand the analysis of revenue management so you can apply them to your hotel’s profitability.

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