The hospitality industry has undergone a seismic transformation since 2020. This period of change is set to continue through 2022 and 2023, with shifts in demographics and technology, and the post-pandemic transition to a new normal all playing decisive roles. As a hotel management company with clients around the world, we have seen these trends in the tourism and hospitality industry take shape and evolve.
If you´re reading this, chances are you´re looking for ways to improve your hotel´s operational performance - and you are unsure what actions to take and which tasks to prioritize. And understandably so, since creating a successful hotel business is anything but a straightforward - cookie-cutter process, and success definitely doesn't come overnight… It requires careful planning, prioritization and dedication to achieve great results for a hotel.
Running operations as a hotel management company for a diverse portfolio of independent and boutique hotels in a variety of cities and countries, we have seen the same concerns pertaining prioritization and decision making. There is always room for improvement on numerous aspects of the business, whether it is making the right decisions, optimizing work processes, providing higher quality service, or aligning departments and objectives.
Google is taking the hotel industry by storm to gain market share and grow their advertising revenues. We will take a look at how Google is penetrating the hotel distribution vertical with Google Hotel Ads, and what opportunities this gives in terms of hotel revenue management and marketing.
Standing out from the crowd has always been a perpetual task demanding full attention of any hotelier, but has become even more apparent in the post Covid-19 era.
The countless marketing, sales, and operational tools available in the market have allowed hoteliers to gain quick returns in the past, but unfortunately mediocre strategies and cookie cutter approaches won't cut it anymore.
This brings us to the real question: ¨which hotel management actions will truly help us to differentiate ourselves from the rest of the hotel market and thrive in the post Covid-19 era.¨
QR Codes have taken the hospitality industry by storm, and can be seen used anywhere from restaurants menus to playing a role in sharing information about health and safety measures.
We will share our insights as a Hotel Management Company:
One of the components needed to apply a hotel revenue management is market segmentation. It allows you to target and market to a variety of consumer groups with different behavior with an offer that matches their needs and budget level.
It is now more important than ever to make every guest's stay be as fulfilling and enjoyable as possible for your hotel. It is simply too great a risk to lose revenues as a result of bad reviews, having to issue refunds, or through other issues that generate guest complaints.
In this article, we reflect on where such issues may arise, how to measure, and how to take fast, effective action allowing you to manage your hotel in the best way possible.
If you would like to invest in a hotel and are doing your research, at XOTELS, a company specialised in Hotel Asset Management, we would like to share some giveaways and a list of Top 10 tips to make wise decisions when investing in a hotel.