Weekly Insights. May 4, 2024

Weekly Insights. May 4, 2024

Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (Apr 28 - May 4, 2024).

Alex Kapichin

Cracking the code: How hotels can gauge the why behind clicks, bookings and upgrades

In a complex distribution ecosystem where players compete to “own the guest,” hospitality companies direct significant resources to move guests toward a desired action—make a (preferably direct) reservation, join a loyalty program, sign up for a credit card or upgrade a room. Hoteliers have long operated with a general picture of what people value in their stays but continue to struggle with understanding why given marketing tactics yield specific results. Their ability to zoom in to the details behind individual and consumer cohort decisions promises to unlock significant value.

How Airbnb and short-term rentals reshape rural and urban communities

In less than two decades, short-term rentals have thoroughly transformed the hospitality industry, wresting 15% market share from hotels. From a feel-good pioneer of the sharing economy to a $100bn behemoth, Airbed and Breakfast, better known as Airbnb, has revolutionized hospitality from its beginnings in 2007 — creating a whole new market in the process. But what happens to a community when Airbnb comes to town? In this second article of our three-part series, we take a deep dive into the impact of STRs, in particular Airbnb, and how communities are reacting.

Could using algorithms to set hotel rates become illegal?

Is it illegal to estimate what hotel prices might be in the future?

According to some powerful people, it could be. Plaintiffs in several class-action lawsuits argue that merely having access to algorithmically informed price insights amounts to an illegal conspiracy among business competitors — that it’s fair to assume they’ll stop competing and just fix prices instead.

Plaintiffs have gotten mixed results in court so far, but that’s not the big story. Strong signals are coming from the U.S. Federal Trade Commission and the Justice Department’s Antitrust Division.

Dynamic pricing dilemma: How close are hotels to perfect competition?

In this blog post, we will examine how the hotel industry adheres to the model of perfect competition. We will explore the implications of pricing strategies enabled by modern technologies and their potential risks in the context of antitrust regulations. We aim to shed light on the current competitive landscape in the hotel industry and provide insights into the strategic maneuvers that hotel managers and investors could consider in response to these growing legal and economic concerns.

Hotel front desk upselling: How to nail and scale your strategy

While many hoteliers are aware of the benefits of hotel front desk upselling, they hardly leverage it to its full potential. It’s not surprising as there are numerous aspects to get right so that it’s worth the effort. Apart from having a comprehensive knowledge of all your hotel offerings, you (and your front desk team) need to know the basics of human psychology and upsell techniques to close upselling deals successfully.

From highlighting the most crucial communication skills to master to revealing the most widely used upselling techniques in hospitality, continue reading to learn the ins and outs of effective front desk upselling.

Hotel performance metrics: Bullet-proofing your revenue management with effective measurement

This article looks at more than the usual ways of doing RM and calculating hotel metrics. We're going to explore new strategies and find metrics that do more than just give insights. They'll provide practical ways for businesses to grow, become more efficient, and lead in their industries.

How to do an in-depth analysis of my hotel website's performance?

Your website is the pillar of your online marketing and sales strategy, and measuring its results is crucial to adjusting your online sales strategy. We detail for you the essential performance indicators (KPIs) to track and optimize your website and ultimately increase your online bookings.

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