Weekly Insights. May 25, 2024

Weekly Insights. May 25, 2024

Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (May 19 - May 25, 2024).

Alex Kapichin

EC designates Booking.com as a “gatekeeper” - Reason for Hotels to Celebrate?

On May 13, 2024, the European Commission (EC) designated Booking as a "gatekeeper", similar to how it previously branded Google, Facebook, Microsoft, Amazon, TikTok, etc. "Holidaymakers will start benefiting from more choice and hotels will have more business opportunities," declared Margrethe Vestager, EC's Executive Vice-President in charge of competition policy. One of the results of this designation by EC is that Booking can no longer include rate parity clauses in its agreements with hotels. In other words, hoteliers can now publish promotions and lower rates on their websites than what they provide the OTAs with.

What's your take? Will European Hotels benefit from this decision?

Hospitality for society: Managing hotels in times of war

Insights from a recent EHL panel event on 'Managing Hotels in Times of War', where the spotlight shone on hospitality from a different perspective. What changes for a hotel General Manager when a crisis situation hits? What emerges in terms of new leadership roles and operational requirements? Dr. Inès Blal recounts the highlights from this moving and illuminating panel discussion with seasoned professionals in war zones.

Hotel financials: Key changes in USALI 12th Edition

The 12th revised edition of the Uniform System of Accounts for the Lodging Industry (USALI) fundamentally enhances the transparency of financial and operational aspects in the hospitality industry. To quote Sir Arthur Conan Doyle's iconic character Sherlock Holmes, “It is a capital mistake to theorize before one has data.” Embodying this wisdom, the updates in USALI provide a robust framework for data-driven decision-making and increased transparency, aligning closely with evolving business needs. These are thoughtful changes, designed to align with the shifting demands of the hospitality industry - these changes support the enhancement of customer experiences, the advancement of corporate sustainability programs, and the integration of digital marketing strategies, ensuring that each decision is backed by clear, actionable data.

5 common revenue management pricing mistakes and how to fix them

Ask a hotel staff member who isn't a revenue manager about a revenue manager’s daily tasks, and they'll most likely say they 'set rates' or 'raise rates,' or something to that effect. While this is a significant part of our role, it's easy to overlook the in-depth analysis that underpins each pricing decision to get to the sticker price. If you get too fixated on solely pricing, it can be very easy to lead your hotel astray and deliver sub-optimal revenue outcomes.

There are countless pitfalls you can wind up in when it comes to finding that perfect price-point. In this article I’m going to give you 5 that I see most often.

Top 5 reasons for booking engine abandonment and how to fix them

In this blog, we’ll delve into the top reasons why potential guests abandon their bookings. By understanding the 'why' behind these drop-offs, you can implement strategies to keep your guests engaged and committed to completing their reservations. Get ready to turn those near-misses into confirmed bookings and boost your hotel’s conversion rates.

A practical guide for hotels to embody sustainability

This article provides a concise guide on how hotels can effectively implement a sustainability framework, focusing on the three main pillars of sustainability: 1. People, 2. Planet, and 3. Profit—and how to accurately report and communicate these efforts to stakeholders and customers.

Transforming your hotel website into a room-selling powerhouse

A hotel’s website has become a must for selling rooms online. It allows hoteliers to get direct bookings and to reduce the share of OTAs on their turnover.

The final goal is to convince the traveler to book on your website and not elsewhere. That’s why, on your website, you must provide future customers with the most pleasant booking experience possible.

This is done by providing relevant information to the internet user on your hotel website. Find below some elements that will allow you to better sell your rooms on your site.

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