The Tricycle of Guest Service Excellence: A Perfect Model For Remarkable Experiences
Doug Kennedy | October 4, 2024
Crafting a Unique Employer Brand for Today’s Talent Market
Veronika Mercier | August 14, 2024
Smart Strategies
Hotel Sales Negotiating Training, Circa 2020
Doug Kennedy | June 24, 2019
By Doug Kennedy As a conference speaker and trainer, I am finding that one of my most requested topics lately is hotel sales negotiating techniques. Based on the initial inquiries received, I get the impression that many hotel leaders still view negotiating as being a separate part of the selling process such as it was originally taught in 1990’s era training. These days, successful negotiating starts from how one handles leads at their “intake point,” which is important in order to maximize effectiveness further along in the sales engagement. First, let’s look at where in the sales process negotiating is taking place in the era...
Hospitality Financial Leadership: Zero Based Expenses – How to Plan and Manage
David Lund | June 24, 2019
By David Lund I help hotels manage their profits more efficiently and in the hospitality world, there are only two main cost types that need a system and a strategy to properly control them. The two culprits are payroll and expenses. In this piece, I am going to talk about expenses, namely a process for establishing and managing your expenses on an ongoing basis in real time using a zero base. Zero based expenses are nothing new. Here is the definition from Wikipedia. Zero-based budgeting originated in the 1970s. Many businesses will budget and plan out things to maintain financials. In the past, businesses would only look at specif...
Why Amazon Should Acquire Airbnb, and It’s Not for the Love of Travel
Jason Price | June 20, 2019
By Jason Price Amazon has set the chessboard to succeed in the travel vertical – in a way that is not expected. Up until now Amazon’s foray into the travel vertical has been lackluster at best. Starting in 2012 and running for three years was Amazon Local, a Groupon-like business model for local travel providers. The steeply discounted "flash-sale" quickly ran its course with customers and never presented a sustainable economic value to the supplier community. In 2015, the launch of Amazon Destinations offered locally curated, weekend get-away vacation packages. Short excursions by car have its appeal but the two-fold punch of custo...
Learning From the Past: Inoculating the Incentive Travel Industry
Rick Garlick | June 20, 2019
By Rick Garlick It has been a decade since the recession of 2008-2009 painted incentive travel as an example of corporate excess and waste, and the impact of that shift in mindset continues to ripple through the industry. Incentive trips, corporate events, and meetings were not only cancelled that year, but companies continue to be mindful of this perception, being more budget-cautious less likely to reinstate or explore these programs. What was lost during this time was how well-designed incentive travel programs are profit drivers, rather than cost centers, driving productivity and revenue. It seemed like no one was able to effective...
The Time Between Reservation and Arrival Is the Biggest Missed Opportunity for Revenue
Larry Mogelonsky | June 19, 2019
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) It’s financially prudent to have a good channel mix so your rooms appear wherever guests are looking and booking. While getting the reservation is a consummate top priority, we are often missing what falls immediately after in what’s known as the prearrival phase. With some exceptions in the groups segment, this time period is rife with opportunities to capture more revenue from incoming guests, whether that be through room upgrades, amenity purchases or merchandising. Before you investigate tech vendors that can help you leverage this gap, the first step is to understand post-p...
How to Maximize Hotel Revenue in 3 Easy Steps
David Eisen | June 19, 2019
By David Eisen A hotel operator, a hotel owner, and an asset manager walk into a bar… sounds like the setup to a terrible joke, right? But growing and maximizing revenues is no laughing matter, especially in a listless RevPAR environment. According to a recent equity note from Baird, RevPAR growth expectations in the U.S. have declined by 25 to 50 basis points since the beginning of the year. HotStats data shows that 2019 Q1 RevPAR was up 1.2 percent over the same period last year; in Europe, RevPAR was only up 0.7 percent over the same period. The data are clear: Rooms revenue is waning, and not growing at the same pace as in years p...
Why Don’t Luxury Hotel Brands Truly Differentiate? Have They Run out of USPs?
Jochen Ehrhardt | June 18, 2019
By Jochen Ehrhardt When Steve Rubell and Ian Schrager, once famed co-owners of Studio 54 in New York, opened the Morgans Hotel in 1984 followed by the Royalton and the Paramount Hotel, both designed by Frenchman Philippe Starck, they created instant hits by ushering in a new era of so-called Boutique (Lifestyle) Hotels with “lobby socializing” like never seen before. These cool, hip, and chic spaces drew a crowd of like-minded hotel guests, including the author, as well as residents. For the first time, “luxury” became affordable and hotel bars were no longer money-losing must-haves but New York’s most sophisticated gathering ...
Hospitality Financial Leadership: Lies Financial Leaders Tell Themselves
David Lund | June 18, 2019
The Lie: My Balance Sheet Accounts Can Go a Month Without Being Completely Reconciled By David Lund It is the worst lie financial leaders can tell themselves. Nothing is more important than the health of your books. If your books are not caught up and if your account reconciliations are not clean and up to date, nothing else you do in your financial world matters. Period. Full stop. It’s paramount as a financial professional that you never ever let a month go by where you have not completely reconciled the books. You can’t do a clean close without having your accounts reconciled. Preparing the month end statements and not having ...
Loyalty Is Poised for Disruption: How to Award Loyalty the Right Way
Sara O’Brien | June 18, 2019
By Sara O'Brien Traditional points-based loyalty programs have been around since 1983, emerging as a unique way for major brands to build stronger relationships with their most valued customers. At the time consumers found them appealing and interesting, allowing hotel brands to generate buzz and additional revenue. But much has changed in the last 40 years. Technology and A.I. (Artificial Intelligence) have evolved to be able to deliver things people want when they want them. Netflix recommends which movie you’d like to watch next and Amazon can tell you what you should buy for your child’s birthday this year. Yet, so many hospital...
TraknProtect Captures Coveted “Judges’ Choice” Award at E20X (Entrepreneur 20X) Competition at HITEC 2019
TraknProtect | June 18, 2019
Leading innovator of employee safety button technology selected by a panel of judges as winner of top industry award recognizing innovative startup companies in the hospitality sector Minneapolis – HITEC Booth #3017 – June 18, 2019 – TraknProtect, a leading provider of real-time location technology purpose-built for the hospitality environment, has continued its winning streak, claiming the top industry innovation award in this year’s Entrepreneur 20X (E20X) competition at HITEC Minneapolis. Selected by an expert panel of judges comprised of hotel technology professionals, TraknProtect was honored with the Judges’ Choice Award, ...
HSMAI ROC: NextGuest Partner Insights Workshops You Won’t Want to Miss
NextGuest Digital | June 17, 2019
Hospitality Sales and Marketing Association International will be hosting its annual Revenue Optimization Conference on June 18-19. The 2019 HSMAI ROC conference is part of The Hospitality Industry Technology Exposition and Conference, which is being held this year in Minneapolis. This event is designed for hotel marketing and revenue leaders to learn about fresh and innovative initiatives that will drive revenue for their hotel and stand out in the hospitality industry. The conference is the largest of its kind in the world. Fresh from its recent rebrand, NextGuest will be in attendance and speaking about the latest in hospitality. Former...
What Is TRevPAR (Definition and Why It Matters)?
David Eisen | June 10, 2019
By David Eisen In a previous blog post, I took aim at RevPAR. My pursuit: to puncture the long-held notion that it’s the most exemplary data point to consult within the hospitality industry. And, according to one comment, I succeeded in doing so (thank you, Don Weintraub, you made my mother very proud). My thesis was not that RevPAR is obsolete; following it is still necessary, especially since RevPAR tracks revenue derived from the rooms department, the largest source of revenue for a hotel. It’s akin to tracking cap rates when investing in hotels—one data point but not the end-all. RevPAR (a combination of rate and occupancy) is...
Hospitality Financial Leadership: Conducting Financial Operations Reviews
David Lund | June 10, 2019
By David Lund Hands down one of the best experiences I ever had in my career was being part of the team that reviewed the financial performance of the hotels in my region. The reason I enjoyed it so much, and have such great memories, is because I learned so much at each one and not only did I learn about the business of hotels, I had a lesson in people. The review team consisted of my boss, the hotel GM, the hotel Controller and me. In addition to the four of us, one by one the other executives or department heads would be in attendance or be called when it was their turn to review their area. The examination was a low-tech event. No P...
Walking In Your Customer’s Shoes
Courtyard by Marriott | June 10, 2019
By Shep Hyken You may have heard the expression, “Take a walk in your customer’s shoes.” The idea is that you put yourself in the customer’s position and see the situation through their eyes. This is good advice for those who have customer-facing responsibilities. You may have heard other versions of this expression. One of the more humorous versions is, “Walk a mile in your customer’s shoes, and once you’re a mile away, you can say anything you want about the customer and they can’t hear you.” I said it was humorous. I didn’t say it was right. Recently, I was speaking at a convention in Philadelphia, where I h...
Beekeeper Joins Panel of Experts at NYU to Discuss Operations and the Guest Experience
Beekeeper | May 30, 2019
Operations Workshop XIV to investigate how improving the employee experience can lay the foundation for delivering an exceptional guest experience San Francisco, May 30, 2019 — Next week during the 41st Annual NYU International Hospitality Industry Investment Conference, a group of industry experts will discuss "Investing in the Guest Experience." Operations Workshop XIV, to be held on Monday, June 3rd at 4:00 p.m. in the Booth/Edison Room of the New York Marriott Marquis (fifth floor), will take a 360-degree view of the customer. Moderated by Jennie Blumenthal, Principle of PwC, Hospitality and Travel, panelists will discuss how ...
Hoteliers, Take Note: Millennials Own Your Future
Ryan King | May 30, 2019
The first truly digital generation has the most buying power and is increasingly more vital to the labor force By Ryan King, Director of Strategic Partnerships – StayNTouch Hoteliers, we have news for you. Millennials – that group of individuals born between the early 1980s and the early 2000s – own your future. Understanding millennial consumers has become a significant discussion point across industries over the last few years. Why? Because they are the first truly digital generation with more buying power of any other demographic before them. With $600 billion in annual buying power and notably different purchase m...
Cendyn and MS+ CT Hospitality Partner to Assist Hotels With the Guest Experience
Cendyn | May 29, 2019
Wednesday May 29, 2019 – Munich, Germany – Cendyn, the World's Leading Hotel CRM Provider, and MS+ CT Hospitality, a leader in professional hospitality service delivery, have announced a collaborative initiative that will enable hoteliers to provide them with the best possible services, based on their needs, to enhance the guest experience throughout their travel journey. MS+ CT Hospitality started from two passionate hospitality industry professionals who had an objective to match the world's top experts in the industry with every hotel. Their goal is to strongly impact team motivation, performances, guest satisfact...
Hotel Design Trends: Adaptation Is Key!
Jennifer Luo | May 28, 2019
From eco-consciousness to wellness and smart-rooms, design is an incredibly powerful tool hoteliers can leverage to differentiate themselves and cater to ever-evolving guest demands. By Jennifer Luo With the growth of private home bookings through a variety of digital platforms, such as Airbnb, hotels face a fierce competition to win customer demand. With a stronger focus on their overall experience, hotel guests today have higher expectations and the ever evolving landscape of travelers have brought about a slew of changes within the hospitality industry. Now, hotels are reshaping the look, feel and appeal of their properties, using ex...
Hospitality Financial Leadership: Benchmarking and Key Business Indicators
David Lund | May 28, 2019
By David Lund This thing in the title of this piece, I want to say was a fad that died already. Benchmarking and KBI's were all the rage a decade ago and now, today, you don't hear much at all about their usefulness or how to create them. There is a good reason they have fallen out of sight in the hospitality industry – read on to find out why. In a former corporate life, I was the author of a quarterly exposé of benchmarking for approximately 50 different measurements for about the same number of hotels. I thought the information was revealing and it created a path forward for "continuous improvement." In this piece I am g...
How Hotels Are Going on a Fitness Kick
JLL Real Views | May 28, 2019
Working out in a hotel is no longer a choice between a treadmill in a small gym, laps of the pool or a 7am yoga class. With health and fitness an engrained part of modern living, a growing number of hotel chains are making it easier than ever to squeeze in a workout when away from home. So easy in fact, the equipment can be right next to the bed. Hotel brands such as DoubleTree by Hilton offer guests Five Feet to Fitness rooms with exercise bikes and keep-fit stations, while Westin by Marriott and Even Hotels by Intercontinental are offering guests bedrooms with training equipment from weights and yoga mats to TRX straps. "Waking up to ...
How to Register Your Front Desk Staff to Become “Certified in the Heart of Hospitality”
Kennedy Training Network | May 23, 2019
In the era of online reviews and social media, guest experiences at the front desk impact the financial success of your hotel. First impressions formulated at check-in bias guests' overall opinions, whether for better or for worse. If you're looking to refocus your team on the essentials of hospitality excellence, it's easy to register your staff to become Certified in the Heart of Hospitality. For a fee of just $995 total, you can certify up to 3 managers and 6 front desk colleagues; additional staff can be certified for $99 each at any time. Here's How It Works: First, KTN presents a live "kick-off" webinar f...
A Sense of Place, Welcome and Hospitality
Larry Mogelonsky | May 22, 2019
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) I recall the last time I stayed at what would categorically be a cookie-cutter hotel. Performing my typical inspection as a casually walked the halls and entered my guestroom, nothing seemed out of place, yet something was still missing. The hotel in question proudly touted its recent renovation for which I can confirm this fact given the scent of fresh paint, glue, wood and new upholstery. The doorman performed in strict accordance with his title while the receptionist at the front desk was upbeat while still remaining matter-of-fact. Arriving after the dinner hour, the corridors w...
Why You Should Integrate SMS in Your Hotel’s Engagement Strategy
Mathieu Pollet | May 21, 2019
Ten Golden Rules to SMS Hotel Guest Engagement By Mathieu Pollet INTRODUCTION SMS is one of the most personal communication channels and by far the fastest one. It would seem only logical, therefore, that highly-personalised service providers like hotels would use this type of communication to ensure their guests have a great stay. Surprisingly though, most hotels don't use SMS at all to interact with their guests. We have been working with hotels and implementing data management solutions and guest engagement solutions for years, and today we want to share some tips on how to improve the guest experience, engagement, and loyalty. FACT...
Hospitality Financial Leadership: What Do Indy Car Racing and the Hotel Business Have in Common?
David Lund | May 20, 2019
By David Lund I am a big fan of professional car racing. I follow the major series; Formula One, NASCAR and my favorite times 10 is Indy Car. When I think about what I like so much around the Indy Car Series there is a parallel to the hotel business that I think needs to be exposed so people will have a better understanding of why Indy Car is so special and how being successful in the hotel business is kind of the same. You might think I'm stretching things here just a little, but I promise you I'm not. Indy Car, in my opinion, is the purest form of auto racing on the planet because you need to be multi-disciplined as a driver. It is un...
