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.
Current Industry Challenges and Future Outlook – Revenue Management for Apartments and Vacation Rental Businesses
It is no news that the vacation rental business has exploded worldwide thanks to the sharing economy. With the industry generating billions and billions of revenue per year, providers for related services have popped up like mushrooms. To be able to separate the wheat from the chaff we have composed a number of basic principles that apply to revenue management for vacation rental business or apartments.