Total Revenue Management is a much-discussed concept in hospitality, but in reality it has produced a great deal of confusion. Put simply, it is the revenue management of all revenue sources in a hotel, encompasses every single hotel income stream.
How can hoteliers use some of the learning in success stories such as Uber and Grab and apply them to our hospitality ecosystem to make us better? The answer lies in ease of use for the consumer, from booking to checkout.
Michael Bennett, Senior Vice President, Global Marketing of Cendyn discusses ways AI is improving guest data so that operations staff can better interact with guests and improve personalisation, loyalty and ancillary upsell.
Tracking key performance indicators is the secret to success in the hotel industry, yet many hotel managers who think they have KPIs really don’t, because they aren’t using them effectively. Here are the KPIs you need on a daily basis and why you need them to have an accurate pulse on your business.
It may seem counter-intuitive, but effective chatbot implementation within hotels can create a more personal and seamless experience for each visitor, without stealing precious time from your employees. This small perk can help staff improve customer experience in other areas where bots can’t be used.
The hospitality industry has been struggling with a talent shortage for years. A 50 cent raise, a better lunch break, or a more consistent work schedule can be all that it takes for another hotel to come along and poach your best team members.
Getting your hotel leadership team excited about accounting is like someone thinking it’s fun to go to the dentist. Your average person wants nothing to do with it because they have a predisposed notion that it’s yucky, boring and better left for someone who has a hard time walking and talking at the same time.