Weekly Insights. February 24, 2024

Weekly Insights. February 24, 2024

Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (Feb 18 - Feb 24, 2024).

Alex Kapichin

Visuals in vogue: Revolutionizing hospitality & travel marketing

Nowadays, travel advertising posters have been replaced mainly by digital pictures and videos. Still, it is worth noticing that the creators of today’s visual representations of travel are also very different from artists such as Dali. Indeed, thanks to social media and streaming platforms, pictures and videos are ubiquitous in our lives. Consequently, creating visual representations, including ones for traveling, is no longer proper for artists or advertisement experts but is within the reach of anyone with a social media account and smartphone. Thus, we have witnessed in the past years a democratization of visual representation creators in travel, a trend that will keep unfolding in the coming years.

However, before exploring how travel actors, such as hotels and guests, reinforce this trend and understanding why it will keep shaping the hospitality and tourism industry going forward, let’s review some general facts and figures that explain why digital visuals remain prevalent.

What is an Extended Stay Hotel? Your complete guide

The growth of extended stay hotels has reached a record high in recent years as more and more travellers look for safe, comfortable lodging, great atmospheres, and affordable rates. As construction rates for this property type increase, so does the interest in staying in one, hosting events at one, or even running one. But what is an extended stay hotel, exactly? Here’s everything you need to know, including how they work, what types of guests they attract, and much more.

From fear to opportunity: The strategic shift in hotel automation

In the fast-paced world of the hotel industry, automation has emerged as both a lighthouse of efficiency and a source of apprehension. While the benefits of automation in streamlining operations and enhancing guest experiences are widely acknowledged, fears surrounding its implementation and impact on the workforce often hold hoteliers back. This article aims to offer a new perspective on automation, addressing common concerns and highlighting the strategic advantages it brings to the hospitality sector.

Averages are meaningless: Why hotels need more than simple metrics

Averages can be dangerously deceptive. They paint an incomplete and sometimes misleading picture. This can hinder our ability to uncover real insights that drive better decisions. It's time to address the elephant in the room – relying solely on averages in the hospitality industry just won't cut it.

Retail revolution: Driving revenue beyond room rates

RevPar is no longer only tied to room revenue at your property- it’s the total square footage. This is not groundbreaking news, but ask yourself this question. What are you doing to drive revenue separately from your room rate strategy? It is time to invest energy into thinking beyond the room and amenity packages that will lead you to discover ways to drive revenue beyond nightly stay and food and beverage.

Unlocking hyper-personalization benefits in Revenue Management

In an era where consumer expectations are at an all-time high, the traditional one-size-fits-all approach to customer interaction no longer suffices. This is particularly true in the dynamic field of revenue management, where personalization can make or break the customer experience. Enter hyper-personalization, a revolutionary strategy that leverages artificial intelligence (AI), machine learning, and big data analytics to tailor experiences to the individual on an unprecedented level. This blog post delves into the essence of hyper-personalization and its transformative impact on revenue management strategies across various industries.

To brand or not to brand

While some companies in some industries have a tendency to consolidate and eliminate brands, the hotel industry is different. Most of the leading hotel companies with brands, such as Marriott, Hilton, IHG, Hyatt, and Accor, regularly acquire or create new brands or flags. Today, Marriott has 30 flags, Hilton has 22, IHG has 14, Hyatt has 29, and Accor has 40, and that’s just the tip of the iceberg. With so many flags to choose from, it’s easy to overlook another choice – no brand at all. While picking a brand is an obvious choice, the possibility that operating a hotel without a brand may be the better choice.

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