Weekly Insights. March 16, 2024

Weekly Insights. March 16, 2024

Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (Mar 10 - Mar 16, 2024).

Alex Kapichin

The Benefits of a Small Hotel Management Company

The benefits of a large hotel management company may seem obvious. However, when choosing a management company for your hotel, consider looking beyond the obvious and evaluating whether a more personalized and strategic approach is appropriate for your hotel investment goals. This article outlines the benefits of selecting a small hotel management company for the day-to-day operation of your hotel.

ITB Berlin 2024 Hotelier's Recap

AI innovations took center stage at ITB Berlin highlighting a transformative shift across the hotel industry towards enhanced efficiency, guest satisfaction, and profitability fueled by new AI features.

Each year, innovative technology and hotel marketing trends affect how hoteliers and their teams target guests. As traveller preferences evolve, new social media platforms pop up, and consumers become more particular about what they purchase, hotels must pivot and adjust their marketing strategies to adapt to changing markets.

In this post, we’re exploring various trends that impacted the hospitality industry in 2023 and what to expect in 2024. From trending digital content strategies to new and innovative hotel technologies, we’re exploring the most profitable and penetrating hotel marketing trends you need to know about.

Hotel CRM software: Key features, best tools, and implementation tips

In the hospitality industry, managing relationships is crucial for business success. Memorable experiences translate into positive reviews, driving more guests to your hotel. A CRM system is indispensable to facilitating good customer service and offering support in reservation management and marketing efforts, among other tasks.

In this article, we explain hotel CRM and explore its core functionalities and the benefits it brings. We will also review five hotel CRM systems and guide you through the implementation process.

Why hotels need to redefine the guest journey's starting point

The guest journey concept has long been envisioned in hospitality as a path paved with inspiration and dreams. Traditionally, this journey commences in the minds of future guests as a flash of inspiration strikes them, whether it be a breathtaking Instagram post, a captivating travel article, or tales of adventures from friends and family. This spark of inspiration is widely acknowledged as the catalyst that sets the entire guest experience into motion, guiding them through stages of planning, booking, experiencing, and sharing their own stories.

However, upon closer examination, it becomes evident that this traditional perspective might not fully capture the guest's initial motivation.

Strategic shifts: How to maximize hotel success in low and high seasons

All in all, the success of the hotel business depends on consistency, and striking the balance in strategies for high and low seasons is your recipe for a profitable year. How to achieve this perfect balance? The answer lies in taking a holistic approach that considers the whole picture.

Transparency & conflict resolution in Airbnb & other two-sided markets

The rise in e-commerce platforms on the digital marketplace has lead to many successful peer-to-peer businesses operating on an apparent trust basis between provider and user. However, as the platforms expand and become distanced from their initial incarnation, the process of maintaining transparency has in many cases been disrupted. In this article, we examine the crucial role of transparency and effective conflict management in sustaining the success of two-sided markets such as Airbnb. As these platforms continue to evolve, addressing these challenges becomes paramount for their continued growth and viability.

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