Hotel Budget Plan: Are you Ready for 2023?
No time to lose, next year is almost here. And a good plan isn’t made overnight. How far are you with your targets, budget, and plan of attack for next year? What REVPAR and GOPPAR do you need to achieve? Is your plan for next year complete, and does it describe all actions in detail? Does everyone on the team know what the objectives are and which steps to take to get there?
Did you make your new hotel budget already or are you right in the middle? What methodology are you using? Are you simply adding a 3% to 5% each month based on last year’s performance? Or are you really putting your teeth into it and drilling down per segment, per channel, per account, and per day?Now is the time to take action to build your hotel budget plan! Read through our step-by-step guide explaining how to get ready for 2023 with our hotel management company´s best hotel budgeting practices.
Hotel Marketing Plan & Strategies for 2023
Today's traveler's journey is more fragmented than ever. With the recent proliferation of new travel super apps, distribution Goliaths such as Google and Expedia updating their ranking algorithms at a frantic pace, and the seemingly unstoppable growth of metasearch engine traffic, building and executing an effective hotel marketing strategy can seem intimidating. Maintaining a holistic, cross-channel approach is essential and always is highly-recommended by our hotel management company.
10 Solutions to Challenges the Hotel Industry faces in 2023
In 2022, there are many challenges faced by the hotel industry, which may quickly feel overwhelming to address. However, as a hotel management company, we have seen that with the right approach, tech stack, and process streamlining, hotels can drive their success in 2022 and beyond.
Top Hospitality Industry Trends in 2023
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.
10 Ways on How to Improve Hotel Operations
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.
How Google Hotel Ads is Penetrating the Hotel Distribution Vertical, and the Opportunity this Presents for Hotels
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.