Weekly Insights. June 29, 2024

Weekly Insights. June 29, 2024

Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (Jun 23 - Jun 29, 2024).

Alex Kapichin

How the right asset management firm helps optimize hotel investments

Partnering with an asset management firm can help maximize investor returns and property values. Asset management is particularly important in the current environment where macroeconomic conditions are in constant flux, geopolitical issues continue to intensify, and domestic monetary policy has considerable implications. The following article outlines how the right hotel asset management firm will help optimize the return on your hotel investment.

Strategically upselling hotel rooms to boost revenue

Effective upselling strategies enhance experiences, is tailored to the guest and doesn’t feel like a hard sell. Importantly, it should be conducted over the lifecycle of that guest and increase their likelihood of rebooking.

Let’s break down the strategy.

5 ways hotels can use generative AI to improve their direct channel

In this blog, we’ll dive into how hotels can leverage Generative AI to improve their direct channels. From streamlining content creation to enhancing guest interactions with chatbots, optimising websites, breaking language barriers, and creating personalised experiences, we’ll explore the ways AI can elevate your guest experience and drive revenue growth.

5 powerful ways to use automated SMS

Effective communication with guests is a cornerstone of exceptional hotel hospitality. For boutique hotels aiming to provide a personalized yet efficient guest experience, leveraging automated SMS can be a game-changer. Let’s delve into why SMS is so impactful and explore five powerful ways to incorporate it into your guest communication strategy.

Hotel overbooking: Solutions and strategies for success

It might sound counterintuitive, but a hotel overbooking strategy can help hotels run efficiently. It’s often used to reach maximum occupancy and generate extra revenue.

That said, it’s risky. As such, it’s essential that a hotel business implements a well-thought-out overbooking strategy. Here’s what you need to know about overbooking practices.

The next revolution: Direct-first independent hotel brands

Maintaining a strong hotel brand is essential for long-term success in the hospitality industry, as the behemoths Marriott, Hilton and Accor prove. Robust brands provide stability and reliability, crucial during uncertain times. Smaller brands and independent hotels invest in guest experience, but often not in their brand. Despite the convenience of third-party platforms, small brands and independent hotels have the opportunity to run a direct-first strategy by controlling their brand and safeguarding their digital presence, inventory, and customer relationships.

HITEC Charlotte 2024 innovation report

In this article we break down the most exciting innovations from HITEC in a skimmable format broken down by department to quickly help you find new tools and features for your hotel business.

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