In over ten years of helping hotels to open and remodel successfully, we have seen time and again at Xotels how indispensable a feasibility study is. We have also seen how many would-be hoteliers simply assume that their vision will succeed, without conducting any notable research on building a hotel business that will be consistently profitable and competitive. In this article we look at the steps involved in carrying out an effective hotel feasibility study.
Over the last year, we have expanded into a new and very exciting segment of the tourism industry. We have taken on the revenue management for a camping site and holiday park in the UK. We have adapted our methodology to the specific requirements of this lodging type, and the results are incredible. We would like to take you with us through our journey of the last few months implementing yield and dynamic pricing at Lady’s Mile in Devon, United Kingdom.
As a hotel’s guest review score has a significant impact on the RevPAR performance of a hotel, we place great emphasis on online reputation management in our hotel revenue management strategies. As a little refresher, we asked our friends at TrustYou for some practical tips on how to tend to your hotel's profile online. Here the first in a series of articles on this topic.
How can you keep property stakeholders easily and well informed about overall property trends and decisions that revenue managers make? This is one of the main questions we tried to answer when giving shape to our vision, based on which we started building Hotel Scienz. And we are bringing answers to this question -and to other industry challenges- with our revenue management solution that we’ll exhibit at ITB Berlin 2017.
2016 has brought Xotels to new levels, it was a year of growth in many ways. We have expanded our portfolio with some amazing new hotels, and have been able to increase financial results of our hotel portfolio in a significant way.
2016 was again a very dynamic year, with many changes in the hotel & travel industry. Chains have merged into mega-chains, book-direct is becoming popular on meta-search channels, chains are pushing for direct business etc. But what has been popular in the world of Revenue Management?