Weekly Insights. January 28, 2023
Why hotel companies keep adding hotel brands
Hotel companies have been launching new brands again. Hilton Worldwide said on Wednesday it had created its first hotel brand in the economy segment, Spark by Hilton. Accor, the owner of the world’s most hotel brands, said last week it had reorganized itself around its brands. Marriott International, Wyndham Worldwide, Hyatt, Kerzner, and Best Western have created or bought hotel brands in the past several months.
The flurry of activity raises some big-picture questions, such as what drives the creation of hotel brands — and whether there are too many.
To find answers, I spoke with Chekitan Dev, who literally wrote the book on Hospitality Branding.
A hotel guide for avoiding OTA panic and rate parity games
Your revenue strategy cannot be focused on proving that the OTAs are an evil empire, and that only your rate parity games will topple them. The goal of pricing is to make sure that you convert all of your hotel investments into revenue.
Now, if you’re ready, please read on to learn about some OTA and pricing strategies that have delivered millions in revenue for owners and operators that have embraced it.
AI in Hospitality: The impact of artificial intelligence on the hotel industry
Hoteliers who understand how to leverage AI tools to become more efficient and effective will become more valuable than ever. Those who don't educate themselves may find themselves in a more challenging situation.
Now let's dive into how each department within a hotel is being impacted by artificial intelligence.
GOPPAR: The hotelier’s guide to 'Gross Operating Profit Per Available Room'
In this in-depth guide, we’re going to break down GOPPAR. We’ll walk you through what it is, why it’s important, how it’s measured, and how hotel revenue managers can utilize GOPPAR to improve hotel performance.
Hotel automation: benefits & tools to improve operations
If you consider using automation but aren’t confident it’s worth the investment, discover the benefits hotel automation technologies can bring to your hotel. On top of that, we’ll discuss what hotel operations are worth automating in the first place and how to select the tool best suited for your business’s needs.
ChatGPT in Hospitality: What hotel tech experts think
Nowadays, topics like Artificial intelligence (AI) and machine learning (ML) are hot topics for discussion. Thus, it’s no wonder that technology such as ChatGPT has become so quickly adopted by the mainstream. And as content creators all over the internet create noise around it, the virality of ChatGPT is no longer surprising.
Like many other curious tech enthusiasts, our team of hotel tech experts have also explored the capabilities of ChatGPT. We’ve talked to the Hotelchamp team to see how ChatGPT might impact the hotel and travel industries. Read on to find out what experts think ChatGPT can already do to help hoteliers.
Top 10 list for controlling hotel expenses
In no particular order, here are the top 10 control points to ensure you are not missing any dollars in your hotel. Failure to follow these controls will cost you by increasing your expenses. It is not a matter of maybe or not at your hotel. It is a fact.