SalesAndCatering.com and LodgIQ™ Announce Partnership To Deliver Market-Leading AI Revenue Management for Group Sales
SalesAndCatering.com | June 18, 2024
Direct Booking Growth Tips for the Back Half of 2024
Adam and Larry Mogelonsky | March 27, 2024
Revenue Strategies
Hospitality Financial Leadership – Top 10 ‘MUST DO’ Separation of Duties and Controls
David Lund | March 28, 2022
By David Lund In your hotel internal controls are a mission critical element you must have up and working well to adequately safeguard your assets. If you forgo these controls, you leave yourself wide open for – and I hate to use this word – fraud. That is right. People who work for you are much more likely to steal from you if you do not protect what is yours with proper and effective controls. That fact is just the reality of being in business and the world is full of horror stories of those who trusted too much. As Theodore Roosevelt said, “Risk is like fire: If controlled it will help you, if uncontrolled it will reach up a...
Gillis Sales Reports $23M in Actual Revenue for Hospitality Clients in 2021, Increases New Business by 40 Percent
Gillis | March 16, 2022
Remote sales and training become key priorities as hotels address today’s labor shortage DALLAS, March 16, 2022 – Gillis Sales, a remote sales and training organization for hoteliers, reported today that it generated $23M in actual revenue for its client base in 2021 while increasing its client base by 40 percent since the beginning of the pandemic. These numbers indicate that hotels are seeing the benefits of investing in sales to increase profitability as travel resumes. Even as the labor shortage continues, leisure and corporate travel are increasing. To keep up with demand, Gillis is seeing an increase in business as hoteliers t...
Travel in 2022: Addressing the Demands of a New Era
Robert Rauch | March 9, 2022
By Robert Rauch This year marks an exciting point for hotels within reach of 2019 numbers. Many select-service and resort hotels fit this profile, but the majority of hotels should see great growth in 2022. What is the landscape? Threats to the Industry The greatest threats to the travel and tourism industry include new supply; Airbnb, Vrbo, and similar short-term rental companies; interest-rate increases; oil prices and terrorism. Reduction of visa issuance, global economic stability and economic growth by inflation are other concerns. Russia, China and Iran are all threats to stability in the Middle East, Eastern Euro...
Lily Country Club to Implement IDeaS Revenue Management System Ahead of Demand Resurgence
IDeaS | March 9, 2022
Newly opened Norwegian golf resort partners with industry-leading RMS provider to complete powerful technology stack LONDON — March 9, 2022 — IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today that the Lily Country Club will implement IDeaS Revenue Management System (RMS) at its 507-room Norwegian golf resort—the third-largest hotel in the Oslo area. Since opening in May 2021, the Lily Country Club has fared well with domestic leisure demand but sought an automated revenue solution to expedite its time-consuming pricing processes and maximize revenue ahead of the...
Hotel Industry Says Automation & Integration Vital to Recovery
Duetto | March 8, 2022
The latest survey from Duetto reveals nearly 78% of hoteliers will increase their investment in hotel tech in the next three years San Francisco, March 8, 2022 - The digitization of the hospitality industry has been underway for decades, but the past two years have accelerated tech adoption in hotels across the globe. Duetto surveyed hoteliers worldwide to gauge the hotel industry's sentiment and priorities regarding revenue management, revenue tools, and technology innovations. The overwhelming response was that automation and integration are seen as key to future success by the majority of those working in a hotel revenue function...
Knowland Reports Significant Growth in February Meetings Volume, Up 340 Percent Over February 2021
Knowland | March 3, 2022
Meetings increase 48 percent from January to February 2022, a significant sign the world is ready to get back to the business of meeting in person ARLINGTON, Va. — March 3, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released its monthly meetings and events data for February. Meetings volume from January to February increased 48.1 percent. Even more significant is a 340 percent increase over February 2021. Individual recovery metrics (average attendees and average space used) are now level with 2019. If the year continues at this pace, volume levels wil...
Knowland Announces Expanded Partnership With Aimbridge Hospitality
Knowland | February 23, 2022
Best-in-class management company turns to data analytics to ramp up group sales and gain a competitive advantage ARLINGTON, Va./PLANO, Texas — Feb. 23, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced today that Aimbridge Hospitality, a leading global hospitality company, has expanded its partnership with Knowland to provide access to meetings and events data for sales teams at the property level. Management companies such as Aimbridge Hospitality are turning to Knowland to increase group revenue, improve sales team productivity, and better understand ma...
Hospitality Financial Leadership: Balancing Daily Revenues and Settlements
David Lund | February 21, 2022
By David Lund The hotel business is a form of retail business. Every day we must balance our revenues with our settlements, just like you would if you owned a store. Or for that matter any business that has sales every day and the customers pay for their purchases at the time of the sale. But (and it is a big but) the hotel world and the daily balancing act is different. That’s what this is about, why we are different and what you need to do to safe guard your assets. In this case you need to be able to balance the day’s receipts and keep the accounting on your general ledger nice and neat and most importantly, what we in ...
MOB HOTEL Selects IDeaS for Pricing, Forecasting and Reporting Across Its Growing Portfolio
IDeaS | February 2, 2022
Paris-based hotel group set to drive greater operational efficiency and more competitive rates with IDeaS Pricing System LONDON — February 2, 2022 — IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today that MOB HOTEL will implement IDeaS Pricing System across its growing portfolio of eco-friendly, socially-minded properties in France and the United States. As MOB HOTEL expands, its manual, spreadsheet-based pricing process could no longer be sustained. The hotel’s revenue team selected IDeaS to achieve: • Scalable automation – IDeaS Pricing System automatica...
What Hospitality Statistics Mean to Your Hotel Business?
Ahmed Mahmoud | January 31, 2022
By Ahmed Mahmoud The hotel industry is subdivision of the hospitality industry that specializes in providing customers with lodging services. There are a variety of hotel types that typically can be categorized by size, function, service, and cost. Levels of service can usually be split into three options: limited-service, mid-range service, and full-service. However, some consumers may be more familiar with the star rating system, with one being the lowest rating and five being the highest. When it comes to function some of the categories include business, casino, spa, extended stay, bed & breakfast, and more. In recent years, more an...
Salamander Hotels & Resorts Sees Record Portfolio Performance With IDeaS
IDeaS | January 20, 2022
Founded by entrepreneur Sheila Johnson in 2005, Salamander Hotels & Resorts delivers comfortable luxury through signature, immersive guest experiences. The company is based in Middleburg, VA, and has a small-but-mighty destination-resort portfolio featuring the flagship Forbes Five-Star Salamander Resort & Spa in Middleburg; Half Moon, an iconic luxury resort in Montego Bay, Jamaica; the grand Hotel Bennett in Charleston, SC; Innisbrook Resort in Tampa Bay, an annual PGA TOUR stop; and The Henderson, a sweeping beach resort in Destin, FL. When he was hired, Brian Covington, Salamander’s Vice President of Revenue Optimization, had...
Knowland Revolutionizes Group Business Development With Launch of the Estimated Revenue Calculator
KNOWLAND | January 19, 2022
Improves sales team productivity by identifying opportunities with the highest account value ARLINGTON, VA — January 19, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today enhanced its platform with the Estimated Revenue Calculator (ERC), designed to help hotels prioritize sales efforts based on the total account revenue potential of sales leads. The ERC calculates the total estimated revenue of accounts associated with booking opportunities, featuring detailed spend by revenue category, to streamline sales decisions for optimal revenue and profitability. ...
Hospitality Financial Leadership: Why Is Hotel Accounting Different?
David Lund | January 17, 2022
By David Lund I heard this about 40 years ago and it has stuck with me. I was a newbie cocktail waiter working part time in my hometown hotel. One of my regular weekend customers was the controller and he was telling me he needed an income auditor for the summer line-up. I suggested my brother who was recently out of work at his articling job at a CA firm. He told me rather strongly I recall that my suggestion would never work because my brother had no hotel experience and hotels are different. I pressed him on it and all he could say is, “We have a different way of doing things in the hotel world.” At the time I was in hotel sch...
Resort and Urban Fees: Thinking of Implementing One? Here’s How to Ensure a Successful Execution
Jack Lindemuth | January 14, 2022
By Jack Lindemuth Hotel operational expense growth pacing higher than revenue growth has made it more challenging than ever for many hotel owners to achieve their profitability goals. The pandemic turned the previous labor shortage into a crisis and new types of accommodation, such as Airbnb and Sonder continue to cause disruption. This new industry landscape requires a recalibrated business model for most hotels and resorts to achieve financial success, and one way to do that could be implementing resort and urban fees. While these are not necessarily the silver bullet, resort and urban fees can provide owners and hoteliers with...
Five Easy Tips to Drive Revenue With Local Staycationers
Jayme Schreiner | January 13, 2022
By Jayme Schreiner With the surges of COVID-19 variants still impacting international and long-distance travel, hotels and resorts need to get creative and think local to keep generating revenue. From couples and families to remote workers, most of us just need a break from being stuck at home – and your hotel can be the perfect escape. Creating special programs geared to locals is a great way to buoy ancillary spend while simultaneously setting your property up as an authentic community hub. If you aren’t sure where to start, we’ve compiled five easy tips to help transform your hotel into a haven for local staycations. ...
UpStay Wins 2021 PhocusWright Innovation Award
UpStay | December 21, 2021
UpStay, the first post-booking yield optimization platform for hotels, has won a major international travel industry award at the Phocuswright Conference held in Florida last month. The Award recognizes UpStay as one of the most innovative technology platforms available to the global travel industry today. UpStay, participating for the first time, was selected by the international panel of judges for the Phocuswright Innovation Launch 2021 - Winner: People's Choice Award. UpStay helps hoteliers unlock new revenue while engaging with customers, explained Maína Pietrobelli, UpStay’s Vice President of Business Development, during her...
How to Get Revenue Management Right for 2022
Ahmed Mahmoud | December 16, 2021
By Ahmed Mahmoud As vaccination programs continue to find success against Covid-19, lockdown policies are easing, and hotels are reopening. Tentative steps are being made toward the resumption of international travel – there is now significant domestic leisure travel taking place in a number of countries. With consumers starting to make travel plans, hoteliers should begin preparing their strategy for reopening and a wider recovery. Like most hotel departments, revenue management changed dramatically in light of the last two years’ unprecedented challenges. Established processes were flipped upside down as demand dried up and histor...
IDeaS Unveils Reimagined Consulting Services to Power the Modern Hospitality and Travel Organization
IDeaS | December 15, 2021
Global team of industry experts help businesses prepare to shift from a revenue management mindset to a culture of commercial success MINNEAPOLIS — December 15, 2021 — IDeaS, a SAS company, the world’s leading provider of revenue management software and services, has mobilized its global team of technology experts, change agents, and profit drivers with a renewed focus on sharing deep experience and knowledge to ready hospitality and parking clients for organizational transformation and to maximize revenue and commercial potential. The new-and-enhanced IDeaS Consulting offerings leverage the seasoned team’s global reach to provide...
12 Powerful Hotel Sales Hacks You Can Do Right Now to Close More Group Business in 2022
Ryan Hamilton, Co-Founder, SalesAndCatering.com and Bluebuzzard Technology Group | December 9, 2021
By Ryan Hamilton, Co-Founder, SalesAndCatering.com and Bluebuzzard Technology Group On the 12th day of Christmas, my true love gave to me… the perfect event proposal? As a matter of fact, that is precisely what we are giving you -- 12 tried and true hacks to close more deals in less time because, in the world of hospitality, a strong sales strategy is the gift that keeps on giving. As 2021 comes to a close and we shift our attention to the year ahead, it’s the perfect time to unwrap sales hacks that will not only reinforce your bottom line but will set you up for long-term success. Download the free guide from ProposalPath: 12 Sm...
Revenue Stream Diversification to Drive Hotel Profitability in 2022
JLL | November 29, 2021
CHICAGO, IL – November 29, 2021 – The global pandemic had a drastic and immediate impact on the hospitality industry. As hotel owners navigate the 2022 budget season, an emphasis must be placed on optimizing profitability and mitigating operational risks as travelers return to hotels around the globe. The inaugural annual JLL Hotels & Hospitality Global Asset Management report highlights five recommendations that hotel owners should consider for successful 2022 planning: With greater operational complexities and a lack of historical precedent, owners should consider a shift in focus from RevPAR to Total RevPar to help drive...
3 Winning Revenue Management Strategies, Plus New Skills for Hoteliers
Dr Cindy Heo | November 24, 2021
By Dr. Cindy Heo Revenue management (RM) is concerned with maximizing the revenue performance of an asset by setting different prices and optimizing inventory availability according to the predicted demand. Therefore, one of the key principles of RM lies in the company’s ability to forecast demand, which has been greatly impaired as a result of COVID-19’s unprecedented impact on hotel occupancy and rates. Therefore, revenue managers will need a new set of skills, built on analytical thinking and cognitive flexibility, to maintain the effectiveness of their decision-making in light of greater industry volatility. ...
All (Hotel) Revenue Is Not Created Equal
HotStats | November 22, 2021
A dollar is a dollar; a euro is a euro; a quid is a quid; a yuan is a yuan; and, for the crypto crowd, a bitcoin is a bitcoin—right? Wrong. At least when it comes to how hotels bring in revenue. In that case, all revenue is not created equally. It’s a theme that was championed at a recent IHG Owners Association summit I attended. (I even took a photo of the slide as evidence.) It’s also one of the most pressing issues that has hamstrung the collective hotel industry’s ability to own its own business. Problem Bookings Despite its best efforts, hotels bookings aren’t always made directly with the hotel. In fact, online t...
Hutton Hotel Invests in IDeaS G3 RMS for Stronger Recovery and Competitive Advantage
IDeaS | November 17, 2021
A reevaluation of its revenue management operation leads Nashville hotel to switch RMS providers for industry-leading IDeaS MINNEAPOLIS — November 17, 2021— IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today it has implemented IDeaS G3 Revenue Management System (RMS) at the 250-room, boutique Hutton Hotel just off of Nashville’s popular Music Row. After engaging with IDeaS Consulting services, the Hutton Hotel recognized the many advantages of partnering with IDeaS for its long-term revenue strategy, competitive performance and post-pandemic recovery. • Consul...
Gillis Delivers $17M in Year-to-Date Revenue for Clients
Gillis | November 11, 2021
Dynamic Sales Solution provides increased revenue and profitability even during the pandemic DALLAS, TX — November 11, 2021 — Gillis, a, training and sales performance organization for hoteliers, announced today that its remote, full service sales for hire service – “Dynamic Sales Solution” (DSS) produced $17 million in actual revenue for its clients since January 2021. Hotels that have invested in sales strategies to prepare in advance of the return of travel are already seeing the impact of doing so. The Gillis DSS solution, a full-service, turnkey remote sales team, is designed to meet its clients’ individual, property-spec...
