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
How to Create Alignment From a Fragmented Booking Funnel
Steffan Berelowitz | September 22, 2022
By Steffan Berelowitz While leisure and even group travel is starting to rebound en masse, from shifting markets to consumer privacy changes, there’s just no denying the extent to which the pandemic has reshaped the hospitality industry. Major shifts in guest expectations and the role of digitization are impossible to ignore when it comes to preparing for future success. In order for you to understand who your guests are and what they want, it’s important to unify the first-party data you own and build on those insights. However, when that data is trapped in disjointed tech stacks that don’t speak to each other, those insights rem...
What Google “Helpful Content Update” Mean for Your Hotel Revenue Management Strategy?
Ahmed Mahmoud | September 19, 2022
By Ahmed Mahmoud About one month ago and on 18 August 2022, Google announced on their blog a new update in their indexing policy. It’s called Helpful Content, and it significantly changes how Google bots look at websites, blog posts, and other texts that you publish. So, what’s new? In general Google Search is always working to better connect people to helpful information. To this end, Google is launching what they're calling the “helpful content update” that's part of a broader effort to ensure people see more original, helpful content written by people, for people, in search results. Not that long ago, many SEO speciali...
The Road Ahead for Franchise Owners and Technology: A Dialogue With Neal Patel, Chairman, AAHOA, and Dr. Ravi Mehrotra, President and Chief Scientist,
IDeaS | September 15, 2022
With the summer travel season waning and a busy fourth quarter on the horizon for hoteliers, owners and operators continue to focus on maximizing revenue and profitability while confronting a host of critical operating challenges – from inflation to rising operating costs to an acute labor shortage. A highlight of the summer was Converge, IDeaS Hospitality Revenue Summit, drawing a large number of hoteliers and revenue managers to the Lotte New York Palace, July 18-19. The following Q&A is adapted from remarks at the event from Neal Patel, the recently appointed Chairman of AAHOA (Asian American Hotel Owners Association), and Dr. ...
Wine in Nine Steps for Revenues in Autumn 2022
Larry and Adam Mogelonsky | September 14, 2022
By Larry and Adam Mogelonsky If you’ve spoken to us before or we’ve broken bread together, then you know that the two of us are wine nuts. Not only does the beverage never cease to amaze in its production and regional variations, but we write about it for hotels because we see it as a great way for any restaurant to boost revenues. This running column has been all about wine, but alas this age-old alcohol is only a subset of the overall F&B program for any hotel property. After all, a wine strategy is part of a bigger picture – the F&B program – and it must serve the role of generating profit. As well, wine, like all ...
The Top 5 Reasons Why Hotel Guests Look But Don’t Book
Brett Thoreson | September 14, 2022
By Brett Thoreson We are all familiar with ‘buyer’s remorse’ – but what about a buyer’s hesitation? The moment a consumer stares at their digital shopping cart, consumed with quiet contemplation before making the final decision to purchase. As a consumer, we’ve all been there, but as a hotel brand, this moment represents a critical obstacle. Within the hospitality industry, in particular, booking hesitation is incredibly high; in fact, conversion rates for hotel websites average between 1.7% and 2%. Although the travel industry spends billions of dollars every year driving traffic to their websites, 81% of visitors reporte...
S Hotels Turns to IDeaS to Drive Demand and Increase Profitability Across Three Properties in Thailand
IDeaS | September 14, 2022
Luxury hotel group selects IDeaS to obtain greater levels of forecast accuracy and enhanced daily pricing optimisation SINGAPORE — Sept. 14, 2022 — IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced the luxury hotel group S Hotels has implemented its software to enhance the profitability of three key properties in Thailand. The hotels - Santiburi Koh Samui, SAii Phi Phi Island Village, SAii Laguna Phuket – will implement IDeaS G3 Revenue Management System (RMS) to provide greater levels of forecast accuracy, enhanced daily pricing optimisation by room type, and automa...
Choice Hotels Introduces ‘Your Key to Profit’ Resource to Benefit Franchise Owners
Choice Hotels® | September 13, 2022
ROCKVILLE, Md., Sept. 13, 2022 -- Choice Hotels International, Inc. (NYSE: CHH),--one of the world's largest lodging franchisors, is building on its longstanding commitment to increasing owner profitability with a free resource for its hotel owners: Your Key to Profit. Launching in the fourth quarter of 2022, the new platform will centralize all Choice's proprietary profitability tools in an on-demand, mobile-friendly system to better enable success for owners' hotels. "Choice Hotels' award-winning tools, capabilities, and expert advice from revenue management consultants enable franchise owners to quickly execute the right pricing str...
When Nothing Is Normal: Managing Hotel Revenue During COVID-19
PolyU’s School of Hotel and Tourism Management | August 25, 2022
For hotels worldwide, the last year has been marked by countless empty beds and cancelled bookings. The plummet in demand for hotel stays caused by COVID-19 has sent standard revenue management practices into a tailspin. Faced with this unprecedented scenario, hotels can no longer rely on past patterns to forecast demand. They must find entirely new ways to manage revenue. In the first study of its kind, Professor Basak Denizci Guillet and Ms Angela Mai Chi Chu of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University comprehensively evaluate the relative importance of various core processes that feed into r...
Duetto Chosen by Soul Community Planet (SCP) Hotels for Revenue Optimization
Duetto | August 24, 2022
Duetto’s GameChanger and ScoreBoard Products Selected to Scale SCP’s Revenue Operations Across Its Growing Property Portfolio San Francisco, August 24, 2022 - Duetto, the hospitality industry’s leading software as a service provider (SaaS) of revenue strategy solutions, announced today that its revenue strategy platform has been selected by Soul Community Planet (SCP), a purpose-driven Holistic Hospitality company, to optimize revenue across its growing portfolio of hotel properties. Duetto GameChanger has been implemented for SCP Hotel room revenue optimization and Duetto ScoreBoard for business analytics and reporting. “SCP...
Nobu Hotels Selects IDeaS as Preferred RMS Provider for its Branded Properties
IDeaS | August 24, 2022
Rapidly expanding global brand consolidates RMS efforts to increase optimization and efficiency across its portfolio MINNEAPOLIS—Aug. 24, 2022— IDeaS, a SAS company, the leading provider of hospitality revenue management software and services, announced today its G3 Revenue Management Software (RMS) is now the exclusive revenue management provider for Nobu Hotels. The software has been implemented at seven Nobu properties globally and will be the exclusive RMS for all future properties. As a rapidly growing, luxury lifestyle hotel brand, the Nobu Hotels management team decided to implement G3 RMS across its portfolio to help ensure ...
The Damaging Effects of Online Booking Abandonment Go Beyond Lost Revenue
Brett Thoreson | August 23, 2022
By Brett Thoreson Think about the last time you found yourself window shopping. Perhaps you were walking back to your car after lunch with a friend, and while passing by a storefront, something in the display catches your eye. You stop at the window, cupping your hand over your forehead to shield your eyes from the sun and get a better view into the store that spans out behind the display. Now, if it was an item of clothing that you hoped to purchase, and you went into the store, engaged with the sales associate, tried on the item, and brought it up to the cash only to run out the door the moment you were asked for payment – that might s...
Vast New Profit Opportunities With Integrated Business Intelligence
Larry and Adam Mogelonsky | August 17, 2022
By Larry and Adam Mogelonsky Business Intelligence (BI) platforms have become instrumental due to a need to gain more visibility on all the different variables affecting hotel operations by feeding loads of data into one system then generating comprehensive reports for executives to make better decisions. Coming out of HITEC in late June 2022, we can report that hotel-focused BI is about to experience a seismic shift in its decision-making sophistication. Leading the way is the new company Actabl which brings together software solutions ProfitSword (enterprise-level business intelligence), Hotel Effectiveness (labor management), ALICE (...
Meetings: The Black Hole of Hotel Revenue and Productivity
Vikram Singh | August 15, 2022
Meetings are the black hole of productivity. I’m not saying this just to be dramatic. There is plenty of evidence coming your way. Keep reading! I have been attending corporate meetings since my early days in the industry, so we’re talking about two decades now. However, things have recently gotten worse. During the pandemic, the number of meetings we all had to attend sharply increased. A Microsoft Study highlighted a 250% increase in meetings compared with what employees had to deal with before the pandemic. Those who know me know exactly how I feel about meetings. When I get stuck on a long call, I catch myself internally chant...
Hotel Revenue Management Best Practice, Shifting From Revenue Management to Profit Management
Ahmed Mahmoud | August 11, 2022
By Ahmed Mahmoud Good revenue management defines a property's bottom line. ... A profit management strategy determines a property's net revenue, Revenue management in hotels is a practice that has evolved significantly in its relatively short history, demonstrated great success using inventory, capacity and pricing to ‘manage’ revenue and probability, although hotel revenue management doesn’t evolve fast, strategies aimed at improving it develop in tandem with modern business and technological trends. What is the Revenue and Profit Management Role? Revenue management revolves around measurement of what customers from different ...
IDeaS Announces Hyatt Will Deploy IDeaS’ Platform Across Global Portfolio
IDeaS | August 11, 2022
Hyatt will utilize the powerful IDeaS product suite to provide next-generation commercial capabilities MINNEAPOLIS —Aug. 11, 2022— IDeaS, the leading provider of hospitality revenue optimization software and services, announced today a global collaboration with Hyatt to power Hyatt’s commercial revenue platform. Hyatt will deploy IDeaS’ suite of products globally as a key component in the evolution of its commercial stack. A leading hospitality company with more than 1,150 hotels globally, Hyatt will leverage the breadth of IDeaS’ suite of products to embark on a journey towards profit optimization, developing strategic workfl...
IDeaS Hosts Converge 2022 Hospitality Revenue Summit in New York
IDeaS | July 27, 2022
More than 150 hospitality revenue leaders gathered to hear about the latest trends and technology innovations from keynote speakers and IDeaS experts MINNEAPOLIS—July 27, 2022—IDeaS, the world’s leading provider of hospitality revenue management software and services, held its annual Converge Hospitality Revenue Summit, bringing together leaders in revenue, commercial, finance, and technology from around the world. This year’s summit featured keynote speakers from some of the top innovators in the hospitality industry and client discussion panels moderated by IDeaS’ leaders. Keynote speakers included Tyler Morse, CEO and chai...
Hotelier’s Quick Guide to Expedia’s Search & Sort Factors Update
Sarah-Anne Tissot | July 26, 2022
By Sarah-Anne Tissot Competing for guests in our tech-centric world typically includes having a strong and engaging presence on OTA websites. Researching hotels on OTA review sites are often the first step in a traveler’s guest journey, which in turn makes those listings an important aspect of most hotels’ marketing strategy and why the latest change to the Expedia Marketplace is something important for all hoteliers to understand. Starting this August, Expedia Group is releasing new Search and Sort Factors in their marketplace that will affect how hotels appear in Expedia’s search results. These new factors will look at both th...
Hotels Are Filling Up. Guest Stomachs, Too.
HotStats | July 21, 2022
There’s an open secret amongst hoteliers: They love the ‘B’ in F&B. The ‘F’? Well, there’s another word that starts with an F they often used to describe it. That’s because making money on food can be a difficult proposition for some. Unlike alcohol, there are many associated costs, spoilage, breakage—you name it. But as hotel operators have taken better control over the hotel P&L, with brands assisting by making cost-saving concessions, food and beverage has gone from a pejorative to a positive. Anyone who orders a bottle of wine at a hotel knows he or she will be paying an upcharge of as much as 100% or even more ...
How Hotels Can Diversify Their Revenue Streams With Flexible & Mobile Technology
Nicole Dehler | July 20, 2022
By Nicole Dehler, VP of Product at Stayntouch Today’s hospitality market has seen a resurgence in travel demand, but in many ways it’s a much different environment than what existed prior to 2020. For one thing, the cost of labor will begin to rise as hoteliers offer increased wages, benefits and career advancement opportunities to correct chronic staff shortages. Customer demand has also changed, as guests begin to expect higher service levels, more personalization of the guest experience and more widespread adoption of hybrid travel models, such as bleisure trips or short-term rentals. Success in this new hospitality market requir...
Onyx CenterSource Unveils Latest Integration for Travel Agency Affiliates of Booking.com
Onyx CenterSource | July 18, 2022
DALLAS (July 18, 2022) — Onyx CenterSource, a leading global provider of B2B payments and business intelligence to the hospitality industry, today announced the launch of its latest payment platform integration for Booking.com’s affiliate travel agencies. The integration is customized for Sabre-connected travel agencies, enabling them to directly connect into Booking.com and streamline revenue share payment processing for completed bookings sent through the platform. “Onyx has a long-standing commitment to ensuring that our offerings provide significant value to our clients,” said Tony Wagner, Onyx chief commercial officer. “A...
Amadeus Launches New iHotelier® Booking Engine to Enable Increased Conversion and Drive Higher Revenues
Amadeus | July 6, 2022
Early results reveal up to a 25% increase in conversion rates for early adopters of the new iHotelier® booking engine versus previous solutions. Its simplified shopping experience, expanded upsell and enhancement capabilities, and highly configurable booking flow enable a more personalized experience to increase hotelier revenue opportunities. The rapid pace of consumer online shopping has contributed to demand for a hotel booking experience that is simple, intuitive, and personalized to guest needs. Independent hoteliers rely on their booking engines to help improve the Brand.com shopping experience, increase direct conversion rates, and...
Silverware POS Delivering Steller Performance at The Fabulous Fox Theatre in St. Louis
Silverware | July 5, 2022
Flexible solution is enabling management to operate its f&b venues independently with inventory, expenses, and reports viewed holistically under Fox Theatre umbrella Markham, Ontario, July 5, 2022 — Silverware is receiving consistent applause for the performance of its point-of-sale and mobile solutions at The Fabulous Fox Theatre in St. Louis. In addition to hosting Broadway shows, Vegas performers, top pop, rock and comedy concert acts, and classic movies, the famed historical Theatre is home to the Curtain Call Lounge and Stage Left Grille restaurant and has deployed the Silverware point-of-sale solution throughout the 4,500 capac...
Hotel Technology Investments Now Stronger Than Ever
Duetto | June 28, 2022
Software as a Service provider Duetto sees year-on-year record growth of 84% in rooms added as hotels embrace technology adoption and innovation to best prepare for the future San Francisco, June 28, 2022 - Duetto, the hospitality industry’s leading software as a service provider of revenue strategy solutions, has seen a rapid increase in hotels adopting its cloud-based technology solutions. Today, the company announced a record-breaking 83.8% increase in rooms signed in the calendar year 2021 versus the calendar year 2020. The record growth continues, with recent signings from all four geographic regions Duetto operates in, including...
IDeaS Introduces Channel Forecasting for G3 RMS, Delivering Pivotal Insights Into Channel Demand and Costs
IDeaS | June 23, 2022
Industry-first Channel Forecast Dashboard will help hoteliers maximize the profitability of commercial strategies MINNEAPOLIS—June 23, 2022—IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today an industry-first Channel Forecasting Dashboard for IDeaS G3 Revenue Management System (RMS), empowering more profitable decision-making across all channels. Available to clients with channel costs loaded into G3 RMS, the Channel Forecast Dashboard provides hospitality organizations with an unrivaled ability to monitor and manage channel performance and costs to better un...
