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What is hotel management, you might ask? And that's a really good question. The hotel industry is broad and complex, with many stakeholders involved. Did you, for example, know hotels are not just managed by one party but typically have many different players involved in operating the hotel?
Whether youโre a senior hotelier or an entrepreneur in the hospitality sector, understanding what a hotel management company does is essential to thriving in todayโs competitive hospitality landscape. Running a successful hotel demands not only a passion for exceptional guest experiences but also a deep understanding of numerous intricacies to ensure revenue management, finance, marketing, and operations all keep running perfectly.
Letโs uncover the invaluable support that is offered and explore why this collaboration has emerged as a strategic necessity.
In the dynamic landscape of the hospitality industry, generating direct bookings has become a top priority for hotel owners. As a hotel revenue management consultingcompany, we understand the challenges they face in developing effective hotel marketing strategies to drive bookings through their own portals.ย
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One of the components needed to apply in hotel revenue management consulting 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.
The concept of the hotel has existed for hundreds of years. Since the days of stagecoaches, overland exploration and urban growth, entrepreneurs around the world have dived into hotel ownership. They sensed the potential, economic opportunity, purpose, growing markets and prestige. In the modern hospitality industry, not too much has changed. So what are the reasons for hotel investment?Letยดs take a look from our perspective as a hotel management company.
Do you like making decisions with sound info? Of course! So do hotel buyers, lenders, owners and sellers. Making informed decisions about potential or operational hotel investments means using accurate hotel valuation methods. Numerous methods exist, each with good and bad points. Itโs the classic hotel real estate issueโฆ how do you determine a hotelโs value without selling it? Hereโs the guide to hotel valuation methods we put together from our point of view as a hotel revenue management consulting company.
Sustainability is the future of the hospitality industry. It has grown to be a topic of massive interest to both hoteliers and investors. Its positive outcome is immeasurable no matter the scale of the hotel or resort. Looking through our perspective as a hotel management company, we have put together a list of reasons why hotel investmentย in sustainable real estate and eco-friendly hotels is essential. Find out why you should work on reducing your ecological and environmental footprint with your nextย hotel concept project.
About the Author:
As CEO and Founder of XOTELS, Patrick Landman has made it his mission to turn hotels and resorts into local market leaders. XOTELSยด diverse expertise and deep-knowledge across revenue management consulting, hotel management, and hotel consulting, enables us to drive results for independent boutique hotels, luxury resorts, and innovative lodging concepts. Below you will find opinion articles written by Patrick Landman.