Weekly Insights. February 17, 2024

Weekly Insights. February 17, 2024

Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (Feb 11 - Feb 17, 2024).

Alex Kapichin

Hotel call center 101: Elevate the guest experience and drive direct bookings

A hotel call center introduces customers to your property. It’s the first impression that will set the tone for your guest experiences. That’s why it’s important to have an effective hotel call center that answers questions quickly, books reservations consistently, and resolves issues satisfactorily. Let’s explore the inner workings, top challenges, and invaluable tips for building a successful hotel call center that wins business and generates revenue.

Hotel brands: Who owns what?

This comprehensive guide breaks down the top hotel chains, groups, and conglomerates, detailing key facts and statistics to help you research potential employers or education pathways.

Beyond traditional budgeting: Why forecasting drives hotel success

The traditional budgeting approach is proving increasingly inadequate in today's fast-paced and unpredictable market, where traveler behaviors, economic conditions, and competitive landscapes can shift in weeks. It's time for the hospitality industry to explore a more dynamic and responsive way of financial planning – prioritizing forecasting as the foundation for a truly effective budget. This shift will enhance adaptability, increase profitability, and empower data-driven decision-making – crucial advantages in today's market.

9 pricing strategies to consider implementing at your independent hotel to drive revenue

Establishing optimal room pricing at your hotel is the foundation for a successful business and underpins the practice of hotel Revenue Management. But, there is a lot to consider when devising an effective hotel pricing strategy, it can be hard to know where to start.

How to choose the best social media platform for your hotel

Social media can be overwhelming, with many platforms, a variety of formats and various audiences in every direction. As consumer preferences continue to change, so does the digital landscape. And you need to be visible where your guests spend their time online.

Being present on the right social media platforms can transform your hotel's digital narrative. It’s not about being everywhere, it’s about targeting the right people. Are you connecting with the right audience? 

Dynamic pricing for restaurants: Unpacking growth in F&B revenue management

Dynamic pricing in restaurants is not just a strategy; it's a transformative approach that ushers in a host of compelling advantages. At the forefront is the enhancement of profit margins. This smart pricing method allows restaurants to fine-tune their prices, ensuring they hit the sweet spot where they're as high as the market can bear but still remain fiercely competitive. It's a delicate balance that, when achieved, seals the gap where potential profits might otherwise slip away, a crucial tactic especially during economically challenging times.

Proactive vs. reactive approach in hotel commercial strategy

In our dynamic industry, the challenge of adopting a proactive versus a reactive approach in commercial strategy is more important than ever. Traditionally, commercial strategy teams have primarily responded reactively to shifts in the market, focusing on managing rates and filtering inbound business. However, this approach is no longer effective as we focus on increased profitability and asset value. In this blog, we delve into why a proactive strategy, aimed at intentionally targeting a profitable business mix, is crucial for driving profitability and how commercial teams can adapt to this paradigm shift.

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