Operating hotels for over more than a decade and a half with the Xotels team, we have noticed that many hotel owners and investors do not always see the need to engage with a hotel asset manager to oversee the strategic management of their lodging business. But if you're not an industry insider, or are not up to speed with the rapidly evolving complexity and competitiveness of the hospitality industry, you might find yourself with a missed opportunity of optimizing profitability as well as mitigating risk exposure. Hotel Asset Management plays a key role in achieving a strong return on investment.
Hotel low season revenue has long been considered to simply be an unfortunate fact of the industry. It brings less demand and, therefore, lower revenues too. But the industry has changed so much in such a short space of time, and hotels no longer have to accept that low season automatically means slow business.
By adopting a proactive stance and implementing a series of tried-and-tested tactics, your hotel can blossom in what traditionally is considered low season. Read on to discover our five best practice steps to attract guests and increase hotel revenue during a low occupancy phase at any time of the year.
OK, so you have decided to realize your dream and open your own hotel. You have thought out an amazing concept delivering unparalleled guest service. The next step would be to write a hotel business plan. It’s like a road map to the opening. However, as a seasoned Hotel Management Company, we have seen that this is where most entrepreneurs get stuck.
We are very proud of the team of Revenue Management experts we have built over the years at Xotels. Together we have built an inspiring company culture and offer great career opportunities. At our core, we are a dynamic company that constantly grows and innovates by striving to challenge the status quo. We would like to share with you some hospitality career success stories.
Rather looking at it from a ‘company’ perspective, we asked 3 members of our superstars why they joined our team, and what it is like to work at Xotels.
A recent study by Walker predicts that the customer experience (CX) will overtake price and value as the most important unique selling proposition (USP) for customers by 2020. For hotels, it is therefore essential to focus on providing an exceptional guest experience. Read on to discover how you can improve your guest experience and increase hotel direct sales by 50% as a result.
Bleisure has become a booming customer segment for hotels. “Bleisure” is a portmanteau of the words business and leisure, and refers to corporate travellers which also add leisure activities into their stay. It is also known as “bizcation” or “workcation”. The typical question that guests are asked, “Are you traveling for business or leisure?” will likely soon require the third option of bleisure. Discover how to attract bleisure guests to your hotel in this brief 5-step guide for hotel operation, revenue management, and hotel marketing professionals.
It has been a while since we covered this topic, so I thought it would be good to have another look at forecasting in hotels. With reservation lead time changing in key markets we operate in, it is becoming more challenging to forecast accurately.
And still it is essential to give our operational departments a realistic financial outlook to run the day to day operations of the hotel as cost effective as possible. And also owners and investors need to have insight and the right expectations on the financial performance of their hospitality business.
It has been a few years since Xotels is operating in Italy now. And we wanted to share some of our successes in terms of hotel revenue management strategies with you.
Before entering into the market we were faced with the same hurdles as always. Owners and managers were concerned we did not know the market, and did not have first hand local experience.
Of course as a strategist these concerns are not valid to us, as we analyze demand patterns, performance KPI and and other statistics to optimize a business. And regardless of where it is located, the methodology and best practices of revenue management do not change.
So how did we do? Let me share some case studies of our hotel performance in Italy with you.
Amsterdam has a problem with over-tourism: we all know that. With 3 Billion € revenue per year generated by travelers, you'd expect search volume for queries such as "Hotels in Amsterdam" to have skyrocketed over the years, wouldn't you? Well, get ready to be disappointed. What if I told you that traffic for such query has, instead, been plummeting, and its volume is now half of what it used to be back in 2014?
So how do you adjust you hotel marketing strategy?