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
Are You Trapped by the Similarity Effect in Your Hiring Decisions?
Louanne Affolter | May 24, 2024
By Louanne Affolter, Dr. Sébastien Have you ever preferred a candidate because of their similarity to you on various criteria? Did you grow up in the same village? Did they come from the same foreign country as you? Perhaps they also liked running or had four kids just like you? If you preferred and selected this candidate, then you were influenced by a bias called the similarity effect. This effect has shown that the more similar two individuals are, the greater the attraction between them. Wondering whether recruiters might be attracted to candidates with similar personality traits, we recently conducted a study to investigate this ques...
How to Price Buy-Outs of Smaller Hotels in Leisure Markets
Larry Spelts | May 24, 2024
By Larry Spelts Small properties (one hundred rooms or less), especially upper-upscale and luxury boutique hotels in destination markets that are principally leisure with higher ADRs, are often attractive buy-out destinations for certain kinds of groups. This can range from weddings and reunions to corporate and association retreats or incentive travel. The Challenge of Hotel Buyouts for Weekends: Case Study It is essential to good revenue management that opportunity costs be factored into weekend buyouts because hotels that are in principally leisure segment-dominated locations tend to sell out on many weekends perennially, and beca...
HSMAI Takes Commercial Strategy to the Next Level With Commercial Effectiveness Organizational Assessment
HSMAI | May 23, 2024
McLean, VA (April 22, 2024) – The Hospitality Sales and Marketing Association International (HSMAI) has announced the launch of the Commercial Effectiveness Organizational Assessment, a tool providing a structured framework for assessing where a hotel organization’s commercial structure is strong and where improvements are needed. The tool and accompanying report, Taking Commercial Strategy to the Next Level, are a free member benefit for HSMAI members and available to the industry for purchase. The goal of the HSMAI Commercial Effectiveness Organizational Assessment is to allow a hotel organization to assess and score their implem...
Memorial Day Travel Expected to Break Records
U.S. Travel Association | May 22, 2024
Memorial Day Weekend – May 25-27 – is the unofficial kick-off of summer and it is expected to kick start what will be a record-breaking summer travel season. Booking data reveals that theme park and entertainment venues like Orlando and Las Vegas continue to captivate travelers' interest, alongside sunny locales such as Fort Lauderdale, Southern California and Miami. Urban destinations including New York, Denver and Boston also rank high among Memorial Day getaway choices. Both roads and airports will be extremely busy – here’s more on what’s expected for this record-breaking weekend. Road Travel AAA forecasts almost 44 million ...
A Realistic Vision of Company Growth Potential – Without Overstretching
EHL | May 22, 2024
Business leaders must approach the growth process with caution. It involves increasing an organization’s size - its market share, revenue, and headcount. However, it's crucial to remember that bigger is not always better. Growing a business is a journey fraught with risks. It's possible to grow too quickly, diversify into too many service areas, and overstretch. Such actions can strain the organization’s operations and finances, create inefficiencies, and even jeopardize the company's future. While striving to achieve maximum growth potential is important, it must be balanced with careful planning and sustainable practices. As a busine...
Americans Expect to Spend a Record-Breaking $221 Billion on Summer Vacations This Year
Allianz Partners | May 20, 2024
Allianz Partners USA's 16th Annual Vacation Confidence Index Projects Americans' Travel Spend to Reach All-Time High This Summer RICHMOND, Va., May 20, 2024 - Americans continue to signal that travel is splurge-worthy and are again setting new records for vacation spending in 2024. For a second consecutive year, Allianz Partners USA's annual Vacation Confidence Index* found that Americans' total spend on summer vacations is expected to remain north of the $200 billion mark, this year exceeding $221.6 billion. According to the travel insurance and assistance provider, Americans have more than doubled their projected summer vacation...
Why Hospitality Businesses Win by Putting People First – A Mindset Shift
EHL | May 20, 2024
In the hospitality industry, success lies in the ability to integrate strategic business practices with the unique demands of the sector. A people-centric approach should be at the heart of everything you do, both in terms of delighting your guests and attracting and retaining the best talent. However, all too often, the demands of running a business can get in the way. In this article, we explore the key challenges hospitality businesses face and the strategies they can implement to align corporate culture and human values. We also discuss some of the benefits they can achieve by successfully navigating the transformation to become a huma...
5 Practical Ways To Create Instagrammable Spaces in Your Hotel
Debbie Miller | May 16, 2024
By Debbie Miller In the age of social media dominance, providing an experience that’s not only memorable but also shareable is crucial for attracting and retaining guests. You may have a highly engaged online audience along with numerous loyal in-person hotel patrons. But is that audience one-in-the same? Many social media users discover brands they follow online. This means most of your Instagram followers may have never set foot on property. Similarly, those who frequent your hotel may not feel naturally inclined to snap pictures to post on social media. So, what’s the solution? Bridge your Hotel’s Online and Office Experience...
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...
Junk Fees Are Banned in California as of July 1, 2024! What Does the California Junk Fee Law (SB 478) Mean?
Mark Adams | May 13, 2024
By Mark Adams California businesses brace for Senate Bill 478‘s impact. SB 478 was signed by Governor Newsom in October 2023 and became effective July 1, 2024. It cracks down on hidden fees, often referred to as “junk fees” and “drip pricing” (because the full cost is only disclosed drip by drip). It will likely change how businesses approach pricing strategies. Many say it is part of a nationwide response to President Joe Biden’s call to eliminate Junk Fees. What’s in a name? SB 478 or California Junk Fee Law? The confusion starts with how to reference the new law. Many refer to it by the Senate Bill number assigned w...
Putting People First: Business Success With a Human-Centric Approach
EHL Graduate School | May 13, 2024
It's no secret that many employees feel unappreciated and undervalued in today’s workforce. Competition for good jobs is fierce, AI will replace some jobs in the coming years, and the size and complexity of some businesses makes some employees feel insignificant. Embracing a "people-first culture" has become vital as modern talent won't hesitate to seek better benefits and flexibility elsewhere. What is a people-first culture? Organizations must adopt a human-centric approach to workforce management to counteract today’s uncomfortable, and sometimes even toxic, employment landscape. Many studies show that humanizing the workplace improv...
Tourism Tidbits: Travel As an Educational Tool
Dr. Peter E. Tarlow | May 13, 2024
By Dr. Peter Tarlow In the northern hemisphere, the months of May and June not only represent the dawn of summer but the end of the academic year and the start of tourism’s high season. From the tourism industry’s perspective as the academic year wanes, tourism enters into its high seasons. It is also at this time of the year that new tourism educational opportunities begin to emerge. Educational tourism is one of the fastest-growing areas of the travel and tourism industry. It is also one that is too often overlooked by tourism professionals and marketers. Educational tourism is not only for young students. People of all ages...
Overcoming the IT Challenges in Hospitality Operations
Nandika Udupihilla | May 10, 2024
By Nandika Udupihilla Digitalisation is not a new trend within hospitality operations in 2024. In fact, technology adoption and smart solutions has been the backbone of successful hotel operations in the last few years, changing how guest needs are met. Technology plays a key role in streamlining service delivery within hospitality. Technology integration within office operations is also pivotal in ensuring the smooth functioning of hospitality businesses. However, the convergence of smart technology and hospitality operations does not come without challenges. While technology enhances employee capabilities and redefines hospitality ope...
Process Innovation As the Core Engine for Hotel Technology Implementation
Adam and Larry Mogelonsky | May 8, 2024
By Adam Mogelonsky, Larry Mogelonsky Looking ahead to the latter half of 2024, it’s obvious to everyone except for those without the internet that the pace of the world keeps moving faster and faster, driven in part by advancements in technology like GenAI. These innovations, such as MyRealTrip’s AI Trip Planner developed in just two days using ChatGPT, are reshaping industries, especially travel and hospitality. As a result, travelers' expectations are evolving rapidly, and hotels must adapt to stay competitive. To navigate these changes effectively, hotels need to embrace business process innovation (BPI) to streamline operations ...
Hospitality Financial Leadership: $600,000 Trash Can
David Lund | May 6, 2024
David Lund is the Hotel Financial Coach, a thought leader and trainer on using financial data to drive your business decisions and your career. A 30-year hotel vet, David has seen everything, a lot of which he shares in his book, The Prosperous Hotelier. Susan and David talk about railroads, scams, and Russians. What you'll learn about in this episode: Why it is so important to ask questions How to get better at understanding the P&L What railroads have to do with luxury hotels How much time to spend on your expense checkbook What GMs and owners who don't share numbers are up to [00:00:00] Susan Barry: This is ...
Labor as We Know It Is Changing: How Hoteliers Can Fill the Gap
Elad Inbar | May 6, 2024
By Elad Inbar Hotels with Wi-Fi and televisions were, at one point, unimaginable for hoteliers, but as technology evolved, it became necessary for the hospitality industry to follow. Today, we are in the middle of an AI revolution — one that meets resistance from skeptics — but history has shown that early adopters of technology have kept hotels running by adapting to changing consumer needs. Clearly, new technology pays off. Recent research is showing that the robotics market is expected to grow with a CAGR of 12.29 percent in the next seven years, exceeding $225 billion in 2030. With operations being impacted by short staffing and ch...
Millennials and Their Top Five Expectations in Hotels
Estefania Lozada Pinedo | May 6, 2024
By Estefania Lozada Pinedo The rise of the millennial generation (of which I am one) has led to a significant shift in consumer behavior, especially in the travel and tourism industry. I have noticed that millennials prioritize experiences over material possessions, redefining the parameters of satisfaction and fulfillment. As millennials become the most frequent travelers of our time, the hospitality industry must adapt its offerings to align with their unique preferences. This article explores the top five trends millennials look for when staying in a hotel and what aspects can make a millennial consider your place. Instagrammable S...
Business Travel Professionals Show Optimism, Commitment in Their Career Outlook for 2024, According to Latest GBTA Poll
GBTA | April 30, 2024
Business Travel Professionals Show Optimism, Commitment in Their Career Outlook for 2024, According to Latest GBTA Poll Work life balance, contentment and industry opportunity in their roles fuel loyalty Global travel buyers and suppliers also report continued knowledge gaps, desire for clarity and implementation challenges related to New Distribution Capability As the business travel industry continues to show strong indicators toward reaching a spending forecast of $1.5 trillion USD in 2024, the latest sentiment poll released today from the Global Business Travel Association (GBTA) reveals an industry workforce of experienced,...
DO’s and DON’Ts of Selling Tech to Hotels
Terence Ronson | April 29, 2024
By Terence Ronson INTRODUCTION This DOCUMENT outlines challenges CIOs and CTOs face when approached by tech vendors, highlighting communication issues that lead to frustration. It provides DOs and DON’Ts to help tech sellers effectively engage with decision-makers. This advice is backed by Martin's 35 years of International experience, where he managed tech deployment across hotels in the APAC region. His insights are valuable for vendors aiming to successfully market to the hospitality industry, emphasizing best practices for positively impacting guest experiences through technology. These do’s and don’ts are by no means an exhaus...
Should I Stay or Should I Go?: Keeping Hotels Open During Renovation
Cicero Construction | April 29, 2024
While renovations ensure a hotel continues to be a popular destination, it's no secret that renovations can be disruptive for guests. Confronted with this dilemma, a hotel owner is left with the question: “Should we stay open during the renovation or should we close?” The correct answer depends on several factors. Pro: Closing Your Hotel On one side of the ledger, closing the hotel makes good sense. It allows for a far broader scope with work done in less time. Total re-branding of the hotel, a large-scale PIP, or a major build out can be completed on a fast track schedule without concern for subjecting guests to noise or other dis...
3 in 5 Younger Travelers Go the Extra Mile for Live Events, AAA and Bread Financial Survey Finds
AAA | April 26, 2024
New study shows Gen Z and Millennials are willing to travel the farthest and spend the most to attend destination events COLUMBUS, OH (April 26, 2024) – A new study from AAA and Bread Financial finds younger generations are driving a surge in live event travel. Approximately three in five Gen Z (65%) and Millennial (58%) respondents confirmed they have traveled in the past 12 months and/or plan to travel in the next 12 months for in-person events like concerts, sporting events, comedy shows, and book readings that are more than 50 miles from home . This compares to 43% of Gen X and just 27% of Baby Boomers. Going the Extra Mile and Spen...
The Impact of Airbnb Short-Term Rentals on Rural and Urban Communities
Andrew Brenner | April 25, 2024
By Andrew Brenner In less than two decades, short-term rentals have thoroughly transformed the hospitality industry, wresting 15% market share from hotels. From a feel-good pioneer of the sharing economy to a $100bn behemoth, Airbed and Breakfast, better known as Airbnb, has revolutionized hospitality from its beginnings in 2007 — creating a whole new market in the process. But what happens to a community when Airbnb comes to town? In this second article of our three-part series, we take a deep dive into the impact of STRs, in particular Airbnb, and how communities are reacting. Paris moves to regulate STRs In the beginning, STRs were...
FTC Announces Rule Banning Non-Competes
Michael H. Strub, Jr. | April 25, 2024
The U.S. Federal Trade Commission’s recent decision to ban non-compete agreements marks a pivotal shift in employment regulations nationwide. This rule not only prohibits new agreements but also retroactively impacts existing ones. From its broad definition of “worker” to its exceptions and impending legal challenges, understanding the nuances of this rule is crucial for employers preparing for compliance. JMBM Partner Michael H. Strub, Jr. explains the implications of this landmark decision. FTC Announces Rule Banning Non-Competes by Michael H. Strub, Jr., JMBM’s Litigation Group Employers throughout the country should be aware t...
From Wall Street and Silicon Valley to Hospitality Leader: Exclusive Interview and Insights From DerbySoft Co-Founder Feng Ou
Alan E. Young | April 24, 2024
By Alan Young Steve Jobs once said, “The mark of an innovative company is not only that it comes up with new ideas first, but also that it knows how to leapfrog when it finds itself behind.” There is, perhaps, no more relevant sentiment to apply to the hospitality industry – a sector that is continuously molded by the fire of consumer preference yet often utterly resistant to the crashing waves of technological change. Of course, this isn’t a novel observation; hospitality has long been criticized for its slow adoption of new-age technology and processes. However, it is a reality that bears repeating, both to identify the progr...
