The Endless Summer Marketing Campaign
It’s that time of year when hotels are eager to maximize their summer holiday months, enticing guests to purchase more premium rooms, stay longer and spend more while onsite. But how can marketing and revenue management target their unique offesr to the potential guests with the greatest chance of booking?
Free Sell or Free Fall?
Contrary to any widespread belief, hotel meetings and events space does more than just sell guestrooms. In fact, for many hotels, the profit potential of this revenue stream is so significant that it can contribute 40-60% of their total profits. When it comes to leveraging this event space strategically, however, it’s often one of the most overlooked opportunities for substantial revenue generation.
Bridging the Industry With Neil Corr
Neil Corr, IDeaS senior advisor in EMEA, discusses the different ways today’s hotels can achieve intelligent revenue strategies in a Big Data-driven world.
Revenue Technology Needs to Take Risks
The inherent nature of revenue management is mathematical and scientific. But while revenue management and specifically, the hospitality industry, might drive forward with advanced principles of science and math, its survival depends largely on its heart.
Why Cancelling & Re-Booking is Killing Your Revenue
Why do guests cancel and re-book hotel reservations? Well, that’s easy: Because they can, and because it makes economic sense—people don’t want to spend more money than they have to. In the eye of the traveler, freeing up money on a hotel stay frees up money to spend on other enjoyable aspects of a trip.
Sunday Night Fever
With the 40th anniversary of “Saturday Night Fever” upon us, Vanity Fair recently described the pop culture movie as a “fun 70s curiosity with pitch-blackness.” The special anniversary release of this iconic film not only elicits nostalgic memories of obnoxious white suits and slick dance moves, but it also leaves me thinking about hotels and their Sunday night pricing. You see, Sunday nights can also be considered a fun curiosity with a bit of pitch-blackness.
Smart Space Technology for a Smart Revenue Strategy
IDeaS recently announced the acquisition of Smart Space Strategy Limited, a company that pioneered a cloud-based, visual strategy management solution that analyzes the business trends and performance of meeting and event space. This is an exciting acquisition for IDeaS, since it allows our company to further support hotels in developing a holistic and profitable revenue strategy across their entire organization.
Bridging the Industry With Digna Martinez
Digna Martinez, IDeaS senior advisor, talks about when total revenue management is going to happen, how organizations need to roll it out, and why hotels need to facilitate organizational change to do so.
Turned Down For What?
Today’s market environments have reached merciless levels of hotel competition. New and re-branded hotels are popping up on virtually every corner. Industry consolidation catapulted distribution giants like Expedia and Booking.com into online Goliaths. Airbnb and other sharing economy wunderkinds have progressed well beyond some kind of side hustle, posing a legitimate threat for stealing market share – especially over high compression time periods.
The Vast & the Various: Your Guest is Driving, Buckle Up
As an industry, we have debated tirelessly over the pros and cons of focusing on driving more direct bookings. One can argue just how profitable direct bookings are in relation to the alternative. Hotels are being hit with countless solutions to help them drive more of the business they want.