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
Pick Up Your Calls to Pick Up More Bookings!
Doug Kennedy | July 23, 2024
The more important the trip, the more likely they are to pick up the phone. Despite the pundits’ predictions, the phones continue to ring with incoming reservations leads even now in the mid-2020s, and yes, even at branded hotels across all segments. I’m sure some readers are thinking “Well not us. The majority of our rooms are booked online.” Yet if you listen to real phone calls from real callers, as KTN’s QA team does daily through our remote call scoring process, you realize that many people call with questions before booking online, whether at an OTA or the hotel’s direct website. Other guests book first and then call wit...
Channel Management: Unlocking the Full Potential in Distribution Strategy
HFTP | July 22, 2024
By Fernando Vives, Hospitality Labs Ambassador & Chief Commercial Officer at NH Group In today’s competitive hospitality market, the way you manage your distribution channels can make all the difference. Let’s explore the importance of a well-optimized distribution strategy and how it can transform the hotel’s performance. The Importance of a Well-Optimized Distribution Strategy A robust distribution strategy is crucial for reaching a wider audience and maximizing any hotel’s revenue potential. By effectively managing distribution channels, we can ensure that our rooms are visible to the right customers at the right tim...
An Immediate Way to Drive Revenue to Your Hotel’s Top and Bottom Lines
Don Farrell | July 19, 2024
By Don Farrell Who wouldn’t want to make a few hundred thousand more in immediate room revenue and see most of that go to the bottom line? In fact, it may be the largest account your hotel can go after, particularly if you are a focused service property. Where can you find this low-lying fruit and how can you harvest it? Your Single Largest Account is at your Front Desk by Converting More Reservation Inquiries And this is the best form of revenue…..the single room requests that come into your front desk in the form of phone inquiries and walk-ins. Imagine what losing one of your top accounts would look like. With front desk reser...
The Road to Hotel Profitability: Adopting Flow Through + Flex Metrics
HotStats | July 17, 2024
When measuring hotel profitability, two key metrics stand out: flow through and flex. Flow through measures the percentage of additional profit from each extra dollar of revenue, while flex gauges the ability to save profit during revenue shortfalls. These metrics provide crucial insights into financial performance, offering a comprehensive framework for operational analysis. "Understanding flow through and flex is essential for any hotel aiming to optimize profitability and navigate economic fluctuations effectively," says Lisa Martin, Regional Director for Hotel Finance, at Davidson Hospitality. Integrating these metrics into your ana...
BYD Lofts Grows Revenues by 15 Percent With IDeaS G3 RMS
IDeaS | July 2, 2024
SINGAPORE – July 2, 2024 – IDeaS, a SAS company and the world’s leading provider of hotel revenue management software and services, announced today that BYD Lofts Boutique Hotel & Serviced Apartments had grown its property revenues by 15 percent with IDeaS G3 Revenue Management System after adopting the system to automate daily pricing activity and enhance its commercial strategies. BYD Lofts is situated 200 meters from Patong Beach in Thailand. It offers a range of upscale rooms, suites, and fully furnished serviced apartments. In a highly competitive resort and holiday market, BYD Lofts needed to move beyond manual-based revenue ...
Revenue Management in Real Life: The Art of Saying No
Fabian Bartnick | June 19, 2024
As a seasoned revenue manager and a parent, I've come to realize that the principles of revenue management aren't confined to the boardroom or the hotel lobby—they extend right into our living rooms. Today, let's dive into the art of saying no and draw some amusing correlations between revenue management and real-time parenting with my two little darlings, Rafa (10) and Hayden (9). Setting Boundaries: The Hotel and the Home Imagine your hotel as a bustling kindergarten. Your guests, much like children, have high expectations and boundless energy. As revenue managers (RMs) and general managers (GMs), we often feel like the teachers tryi...
IDeaS Now Available on the Oracle Hospitality Integration Platform (OHIP)
IDeaS | June 18, 2024
IDeaS leads the way in integrating at scale as nearly 2,000 initial properties take advantage of faster, smoother implementations MINNEAPOLIS—June 18, 2024— IDeaS, a SAS company and leading provider of hospitality revenue management software and services, today announced that it has reached the milestone of nearly 2,000 properties live on the Oracle Hospitality Integration Platform (OHIP). This integration seamlessly connects RMS solutions, including IDeaS G3 RMS, with Oracle's OPERA Cloud platform, accessible through both OHIP and the Oracle Cloud Marketplace – a centralized hub for enterprise applications. Building upon their 25-yea...
SalesAndCatering.com and LodgIQ™ Announce Partnership To Deliver Market-Leading AI Revenue Management for Group Sales
SalesAndCatering.com | June 18, 2024
Seamless integration delivers powerful group commercial optimization capabilities, empowering hotels to make data-driven decisions that accelerate revenue growth and sales performance. Charleston, SC—(June 18, 2024) –SalesAndCatering.com and LodgIQ™ today announced a new strategic partnership to integrate LodgIQ's revolutionary artificial intelligence (AI) revenue management technology into SalesAndCatering’s award-winning group and event management platform, STS Cloud. Effective group revenue management is critical for hotels seeking to maximize revenue and profitability in today’s competitive marketplace. Both companies will wo...
Hotel Lawyer: New Federal Junk Fee Law – The No Hidden FEES Act of 2023 (HR 6543)
Mark S. Adams | June 14, 2024
By Jim Butler and the Global Hospitality Group® Note: If you are a consumer with a Junk Fee issue, please do NOT contact us! We do not represent consumers against hotels, restaurants, or other business owners. We are part of the fabric of the hospitality industry and are committed to informing, educating, and assisting the industry. We represent business owners, helping them to understand and comply with applicable laws and defending them from consumer charges. HR 6543: The US Congress wants in on Junk Fee regulation for hotels Over the past several weeks, we have written about recent major regulatory developments concerning Junk F...
Agilysys To Speak on “Revenue Beyond the Room” at HITEC 2024 and on “The Agilysys Turnaround Story: 2017 – 2024” at HITEC IC 2024
Agilysys | June 12, 2024
Agilysys SVP Frank Pitsikalis will present Tuesday, June 25th and CEO Ramesh Srinivasan will present Thursday, June 27th ALPHARETTA, GA (June 12, 2024) — Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of hospitality software solutions and services, today announced two executive speaker sessions, one at the HFTP HITEC event June 24 – 27 and one at the HITEC Technology Investment Conference (HITEC IC) June 27 – 28, both to be held at the Charlotte Convention Center inCharlotte, North Carolina, USA. Produced by Hospitality Financial and Technology Professionals (HFTP®), a global non-profit hospitality association, HITEC ...
Aligning Culture With the Bottom Line: How to Create a Commercial Mindset That Will Drive Revenue and Service
Andrew Rubinacci | June 11, 2024
By Andrew Rubinacci “We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.” Jeff Bezos, founder and CEO of Amazon. Almost every person in your hotel should be aware of how sales truly impact your property. Whether at reception, working in payroll, or drawing up employee onboarding SOPs, they need to know that every day is a sales day. Selling can be a human trait, and great things start to happen when your hotel company is tuned into the commerce side of your business. It makes me think of a famous quote that...
Occupancy vs ADR, the Never Ending Discussion in Revenue Management
Patrick Landman | June 6, 2024
By Patrick Landman Since the early days revenue management has been applied in hotels, there has been an intriguing ongoing discussion. What drives more value to the business, ADR, average daily rate, or occupancy? I have been in hotel revenue management consulting since 2006, and it is a question that keeps coming back. ‘How can I make more profit with my hotel?’ Owners that are closely watching the P&L statement are especially keen to understand how they can drive the bottom line of their hospitality business. Which is it? So what is it, Occupancy or Average Room Rate (ARR)? The answer is of course both! As t...
From Base Stays to Premium Experiences: How AI Is Redefining Ancillary Revenue Generation for Hotels
Leo Barrit | May 29, 2024
By Leo Barrit Artificial intelligence (AI) is more than just a buzzword; it's a transformative tool that can revolutionize the hospitality industry. Its practical use can empower hotels to anticipate guest preferences, tailor services accordingly, and deliver them through the right channels. This not only enhances the guest experience but also opens doors to increased profitability. However, it’s crucial to understand and navigate the challenges and considerations of implementing AI to align with a hotel's business goals. The economic gains from AI are not to be underestimated. A study by PwC predicts that the most significant boosts ...
The Opportunities for Highly ADA-Compliant Hotels
Adam and Larry Mogelonsky | May 29, 2024
By Adam Mogelonsky, Larry Mogelonsky The hotel industry has seen an explosion of new brands and sub-brands over the past two decades, and this trend shows no signs of abating. This diversification is driven by various forces, with a prominent rationale being that emergent brands can better appeal to niche interests, microsegments or specific customer identities. We see this trend in the rise of the extended stay category (Home2 Suites by Hilton, Residence Inn by Marriott, Hyatt House) and the growth of serviced apartment or aparthotel brands. Premium and luxury segments have also excelled by focusing on particular value propositions, wh...
Oliver & Bonacini Hospitality Transitions All Restaurants, Catering, and Entertainment Venues Across Canada to Silverware POS
Silverware | May 21, 2024
The diverse portfolio of innovative dining experiences is now self-managing and maintaining their point-of-sale systems with upgrades that include mobile and online ordering and scan & pay for contactless payments Markham, Ontario, May 21, 2024—With an immediate need to update and standardize its point-of-sale systems across 30 restaurants plus event venues and other partners, and enable corporate to self-manage and maintain all systems, Oliver & Bonacini Hospitality (O&B) has transitioned to Silverware POS. Trusted by the most notable brands around the globe, Silverware develops enterprise point-of-sale solutions for larg...
AI and Human Input: Hospitality Leader Andrew Rubinacci Shares His Recipe for Revenue Management Success
Alan Young | May 15, 2024
By Alan Young When I asked Andrew Rubinacci to describe the early days of his illustrious hospitality career, his answer was one you might not expect—“I was a guinea pig,” he’ll say with a smile. “I was, quite literally, the first revenue manager at InterContinental Hotels Group (IHG).” Today, Rubinacci is a well-known name in an industry of hotel revenue and technology experts, bringing over 25 years of commercial leadership experience to the table and a resume that includes a number of executive positions ranging from Chief Commercial Officer at Omni Hotels & Resorts to Senior Vice President of Distribution & Reve...
Ace Parking at Phoenix Airport Credits IDeaS in Helping Modernize Its Revenue and Commercial Management Strategies
IDeaS | May 15, 2024
Car Park clients increased revenue, on average, by 26.3 percent in 2023 while delivering a seamless, personalized, and positive customer experience MINNEAPOLIS—May 15, 2024—Parking is a critical source of revenue for airports. Yet, many operators continue to rely on a one-size-fits-all approach to parking rates, often ceding revenue opportunities to public transportation and ride-sharing services. IDeaS, a SAS company and the world’s leading provider of revenue management software and services, announced today that Ace Parking at Phoenix Airport (PHX) has optimized revenue and operations through investments in its modern technology s...
It’s Still a Seller’s Market, But Don’t Get Greedy
Lynn Zwibak | May 2, 2024
By Lynn Zwibak In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. It was understandable that hoteliers would push rates - a hotel's goal is to maximize revenue and profit, and they had a lot of missed opportunities to make up for. People were so happy to be traveling again that they paid. Sources predict that hotels' pricing power will remain strong. However, we don't need a pandemic recovery to fall into the trap of overpricing. Why do we do this? Misjudg...
Wherever You Go, There Is Artificial Intelligence
Klaus Kohlmayr | April 24, 2024
By Klaus Kohlmayr It’s a daily occurrence to see mentions of Artificial Intelligence (AI) throughout multiple industries, including the hotel space. And why not? AI systems can effortlessly perform tasks associated with the cognitive functions of humans, and rather than reducing jobs, AI applications seek to enhance employment opportunities. The hotel industry is one of the most promising business sectors that can leverage the power of AI. This is due to the ongoing processing of vast amounts of data to better understand the underlying demand patterns or elevate pricing strategies. AI is also a growing opportunity to improve business ...
Duetto and Shiji Enhance Integration With Folio Data
Duetto | April 18, 2024
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Will AI Replace Hotel Revenue Managers? Answering the Million Dollar Question
Andrew Rubinacci | April 17, 2024
By Andrew Rubinacci, Chief Advisory Officer of FLYR for Hospitality Never in human history have we had access to as much data as we do today. In recent years, the tools and strategies we use to process and understand insights derived from this data have become one of the hottest commodities – and with good reason. Organizations are able to harness the power of data to gain a deeper understanding of their operations, customer behaviors, and market trends, unlocking competitive advantages. Data-driven decision-making is the new normal. And while the hospitality industry has always used data in its revenue management strategies, AI can...
Cheval Collection Selects IDeaS G3 RMS at Eight Additional Luxury Serviced Apartment Properties
IDeaS | April 17, 2024
Extended stay and serviced apartment properties utilize revenue optimization to handle the complexities of varied length-of-stay offerings LONDON — April 17, 2024 — IDeaS, a SAS company and the world’s leading provider of hospitality revenue management software and services, announced today it has expanded its relationship with the Cheval Collection to a total of ten properties. Building on a strong, established relationship from successful implementations of G3 RMS at its Edinburgh properties, IDeaS’ capabilities helped clear the way for wider adoption within the Cheval portfolio. As Cheval expanded its portfolio, the managemen...
The Future of Hotel Distribution Channels: Seizing Opportunity in Channel Disruption
Jochen de Peuter-Rutten | April 4, 2024
By Jochen de Peuter-Rutten, Youri Sawerschel The hotel distribution channel landscape is undergoing a seismic shift. Online travel agencies (OTAs) that once leveled the playing field for independent properties now dominate, their economic muscle squeezing hotel margins. Metasearch engines commoditize the search experience, making standalone properties indistinguishable. Meanwhile, the growth in alternative lodging threatens hotels' grip on the accommodations sector. Yet within this disruption lies opportunity for savvy hoteliers. Emergent technologies now enable hotels to tailor the guest experience as never before. Strategic partnershi...
10 Booking Trends & Stats That Every Hotelier Should Know to Drive Guest Experience and Revenue in 2024 and Beyond
Andrew Rubinacci | April 3, 2024
By Andrew Rubinacci Many of us grew up on the precipice of a new digital era, an inflection point after which innovations seemed to multiply to uncover possibilities that our younger selves might have dismissed as fit for a more distant future—if we imagined them at all. In 2024, innovation seems to be waiting around every corner, and no industry is exempt from its influence and subsequent transformation. The hospitality industry is now in an undeniably important state of flux: a widespread upheaval of legacy processes and platforms to make room for big tech and big ideas. Although hotel service will always have traditional roots and ...
