Weekly Insights. November 25, 2023

Weekly Insights. November 25, 2023

Best hospitality industry articles focused on 💵revenue, 📊markets, and 🎯strategy (Nov 19 - Nov 25, 2023).

Alex Kapichin

Top 5 hospitality branding software solutions

Creating a unique brand identity is crucial in the fiercely competitive world of hospitality, as it plays a significant role in attracting and retaining guests. Whether you are managing short-term rentals or hotels, utilizing the right technology can make all the difference. In this blog post, we will discuss the top five hospitality branding software solutions that are revolutionizing the guest experience for property owners, managers, and hosts: Dack App, Duve Guest App, Operto Guest, Hostfully Guidebook, and Touchstay Guidebook. Let's dive in!

What is Web3 Marketing, and how can the industry benefit from it?

Amidst swift technological progress, marketing is undergoing a significant shift from Web2 to the dynamic realm of Web3. However, most people in the industry still do not have a clear understanding of what Web3 Marketing is. How would you define the fundamental differences between Web2 and 3 marketing? What successful marketing campaigns have effectively utilized Web3 concepts such as NFTs, blockchain loyalty programs, or decentralized content distribution? As Web3 Marketing emphasizes more personalized and interactive experiences, how can companies balance innovative approaches and maintain brand consistency? And, more important, how can traditional industries like hospitality, which often rely on personal experiences, leverage Web3 Marketing to enhance customer engagement and loyalty?

How can the “cost of acquisition” be calculated? Should it be our main focus?

Our Industry Expert Panel exists out of professionals within the hospitality & travel Industry. They have comprehensive and detailed knowledge, experience in practice or management and are forward-thinking. They are answering questions about the state of the industry. They share their insights on topics like revenue management, marketing, operations, technology and discuss the latest trends.

The hotel general manager: Time for a new job description?

Through a survey of 116 hotel general managers working in independent and chain-managed upscale and luxury European hotels, we examined how much autonomy GMs actually have to make operational, financial, strategic, marketing and human resource decisions. We also examined the impact that hotel size and GM education and experience have on the GM’s independence.

Our findings suggest that while GMs report relatively high levels of autonomy in their position, these levels do vary substantially across individuals, and particularly across functional responsibilities, management structure and hotel size, and the degree of human capital.

Expert tips on creating long-term value from hotel guest surveys

Hotel reviews and guest feedback are critical for determining what’s meaningful for the guest. We all understand this, because oftentimes the fixes that will generate the most ROI are not necessarily the most expensive. Call it ‘value engineering’ whereby the more guest feedback you get the more you have to go on to improve operations which then translates into more guest satisfaction, the ability to command higher rates and, ultimately, healthier NOI or property valuations.

From hotel revenue management to hotel profitability management

This new focus acknowledges that while revenue is crucial, it is the profitability that ultimately determines a hotel’s financial health and success. Profitability management encompasses a broader perspective, considering factors like cost control, efficient resource utilization, and value creation for guests. It’s a strategic shift from viewing rooms as the primary source of income to understanding the hotel as an ecosystem where various elements like amenities, services, and customer experience play a vital role in generating profit. This approach is not only about earning more but also about spending wisely, optimizing operations, and innovating services to enhance the overall financial performance of the hotel.

Contactless check-in for hotels and best tools

Today, the presence of contactless check-in technology in hotels significantly influences travelers' decision-making when choosing a place to stay. This preference extends beyond safety and hygiene concerns to other considerations as well.

This article describes the main types of contactless check-in systems, their functionality, and the benefits they offer. We provide a review of leading tools for contactless check-in, offering insights into their features. Additionally, the article offers actionable tips for hotels aiming to implement contactless check-in.

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