We have been faced with this challenge many times, and it seems it oftenboils down to the same. It might surprise you that generally the problem is due to a lack of insight in independent hotels on how the travel industry really works. There is also a shortage of understanding in the business in general. As a result hotel assets become distressed and are in dire need to be turned around.
Location is one of the top selection criteria for travelers when choosing a hotel. And yes, location has a big impact on the demand your hotel will generate, and therefore will influence the price you can ask in the market for your rooms. Hence when starting a new hotel, the site selection process is a key step that should not be taken too lightly.
There have been many new online travel website initiatives launched over the last 2 years. Meta-search and social travel platforms are changing the hotel distribution landscape forever.
Especially websites like AirBnB have shaken up the travel market. However there are a few which might be taking the peer 2 peer travel concept a bit over the top ...
In response to our blog articles on hotel revenue management, we get asked one question very often in particular. 'How do I start a career in revenue management?'. It is posed not only by students nearing the end of their educational program, but also by mid-level managers who have worked in the hospitality industry for a couple of years already. Becoming a hotel revenue manager is their dream job!