Imagine that you are eagerly organizing a weekend getaway for your daughter's 16th birthday. You're on the hunt for a boutique luxury resort, ideally located within a two-hour drive from your home, to accommodate her and her 100 closest friends for an unforgettable celebration. Given her immense love for Bollywood, you're seeking a venue that can truly make her feel like a celebrity on her special day. Your checklist includes booking 50 double-bed rooms, 5000 square feet event space capable of hosting a dinner for 100 guests with live entertainment, and a facility that can sustain a vibrant dance party well into the night.
Revenue managers, being the savvy bunch that they are, know that outliers are important. How they and their colleagues respond to these exceptionally slow or busy days in their forecasts can have a profound impact on their ability to meet key revenue and profitability goals.
So naturally, when the “The Big One” is coming to town they tend to sit up and take notice.
Whether it comes in the form of the Olympics, the Super Bowl, the World Cup or an international superstar’s latest tour arriving in town, a major event is sure to keep hoteliers on alert for the best ways to capitalize on and adapt to the extraordinary market fluctuations that come with it.
The hospitality industry is currently discussing the need to break down silos and transition to a commercial organization. While many articles suggest that the revenue manager should lead the commercial team due to their superior understanding of the hotel business, it's important to note that even revenue managers must continuously develop their knowledge in marketing, sales, and operations to become great leaders of a commercial team. In this friendly blog post, we explore how each role in the commercial team contributes positively to the hotel's success.
Your property assets should be as profitable as possible. Key to this is knowing what factors will influence an asset’s performance in the future and what strategy can be put in place to maximise this. Through our research and expertise, we’ve identified four key market trends owners and developers should consider in 2024.
I recently did a study on customer reaction to variable pricing in restaurants, particularly with regard to delivery pricing. I found the results quite interesting and hope that you do as well!
In the aftermath of a robust resurgence in the travel industry throughout 2023, hotels are gearing up for a transformative 2024, marked by shifting consumer preferences and the rise of cutting-edge technologies to help hotels address increasingly complex consumer and operational demands. This article explores the top 10 trends poised to redefine hotels and the wider travel and hospitality landscape in the coming year.
In the foreseeable future, digital wallets will be more widespread than physical ones — if it’s not already the case in some regions. No business can ignore this novel payment method, and the tourism sector is no exception. This article explores how digital wallets function and what value they bring at different stages of travel payment workflow.
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