Hello and happy Monday! 😊
Here are the freshest and hottest news in the hospitality industry:
Enjoy your reading and have a wonderful week!
Laura and Jess
– by SiteMinder
Don’t miss this exclusive insight into German travellers’ preferences, key foreign markets and how to generate more bookings.
SiteMinder surveyed over 10,000 travellers in 12 countries about their travel intentions, booking behaviour as well as their expectations for their next accommodation. Hear the results from Andreas Kastl (SiteMinder) and Martin Gahn (Top Gahn) as they present key insights for German hoteliers.
What to expect:
Don’t miss it: October 11th at 11:00 AM – 12:00 PM!
Register now for free: https://bit.ly/45dFS23
– by Oaky
Hotel market segmentation is a vital aspect of a successful hotel revenue management strategy. This article outlines a comprehensive 7-step guide to effective hotel market segmentation. Here are the key takeaways:
Understanding Hotel Market Segmentation:
Hotel market segmentation involves grouping guests based on shared characteristics to provide personalized experiences and maximize revenue.
Common Market Segments in the Hotel Industry:
Typical segments include Transient, Corporate Negotiated Rates (CNRs), Local Negotiated Rates (LNRs), Group, Wholesale, and Others (e.g., influencers). Segments can also be based on geography, demographics, psychographics, and behavior.
Importance of Hotel Market Segmentation:
Segmentation benefits include identifying new business opportunities, personalizing offers, boosting ancillary revenue, maximizing revenue from profitable segments, targeting the right audience in marketing efforts, implementing effective pricing strategies, and generating positive reviews.
Steps to Set Up Guest Segmentation:
Common Guest Segmentation Profiles:
Consider segmenting guests like Backpackers, Retirees, Families, Solo travelers, Couples, Vacationers, Adventurers, Medical tourists, and Business travelers.
You can read the whole article here.
– by Gauvendi
In every generation, there’s a “golden age” of travel marked by technological advancements. Today, we’re in the midst of a new era, with artificial intelligence (AI), including generative AI (GenAI) and machine learning (ML), revolutionizing travel. This technology is reshaping everything from trip planning to communication during disruptions and even frontline decision-making through live simulations and virtual reality.
Travelers are increasingly reliant on digital devices, with a 70% increase in screen time since 2013, accelerated by the COVID-19 pandemic. Despite this digital shift, travel remains a profoundly human experience. The travel industry has a unique opportunity to define this human-centric experience in the digital age.
Although travel companies aim for exceptional service, the average traveler often faces inconsistencies, delays, and stress. Digitally enabled travel can bridge the gap between expectations and reality.
Even smaller travel companies can leverage new technologies thanks to a growing ecosystem of service providers. According to McKinsey Digital, embracing digital and analytics can lead to significant potential improvements in earnings for companies across industries, including travel.
This report encourages travel companies to reimagine their businesses, set higher aspirations, and ensure long-term stability and growth. It offers use cases and success stories from 17 companies, providing insights into how technology is transforming the travel industry.
Read the full article here.
– by Cendyn
Key Takeaways:
Read the full article here.
– by The Hotels Network
Key Takeaways:
Here you can read the full article.
HIC NEWS OF THE WEEK 42