Happy Monday :).
Welcome back to our “HIC NOTW,” your news source for the world of hospitality.
The topics for this week include:
Enjoy your reading!
Laura an Jess
– by Oaky
In the world of hotel management, crafting an effective pricing strategy is crucial for success. This strategy involves tailoring room rates and services to attract the right guests at the right prices, all while considering your business goals. The good news is that revenue per available room and average daily rates are on the rise in many markets, presenting an opportunity for hoteliers to maximize their revenue potential.
To shed light on the critical elements of crafting a hotel pricing strategy, we spoke with James Echert and Mike Chuma from IDeaS, a renowned revenue management solution and Oaky partner.
Key Takeaways:
Here you can read the full article.
– by Cendyn
Cendyn, a leader in hotel technology, has made a significant stride in shaping the future of Customer Relationship Management (CRM) in the hospitality industry. On October 10, 2023, Cendyn announced its strategic acquisition of PUSHTech, a pioneering force in hotel CRM services and marketing automation. This move highlights Cendyn’s dedication to advancing CRM with innovative solutions that empower hoteliers to enhance guest relationships and boost revenue.
PUSHTech, a cloud-based Customer Data Platform (CDP) and CRM platform, offers a comprehensive solution for the hospitality sector. It excels in marketing automation, guest journey automation, and sales CRM, allowing hotels to unify and segment databases to increase direct bookings, enhance guest loyalty, and automate guest interactions through various channels like email, SMS, WhatsApp, and social media.
In an era where fostering guest loyalty is increasingly challenging, this acquisition strengthens Cendyn’s commitment to enabling hoteliers to cultivate lasting relationships with guests, ultimately driving loyalty and profitable revenue streams. The integration of PUSHTech’s technology into Cendyn’s portfolio is set to elevate the industry’s CRM standards, offering hotels advanced capabilities in sales and marketing CRM.
Jack Blaha, CEO at Cendyn, expressed excitement about the acquisition’s potential to refine the guest experience and empower hoteliers to provide outstanding service to their guests. Carlos Moncho, CEO at PUSHTech, emphasized the joint focus on driving loyalty and profitability, highlighting the positive impact this acquisition will have on the industry.
This acquisition marks a transformative moment for Cendyn as it takes a significant step towards providing the industry with a next-generation CRM platform. It underscores Cendyn’s commitment to innovation and its mission to revolutionize how hoteliers connect with guests, foster loyalty, and drive profitability.
Full article here.
– by GauVendi
Kurt Inderbitzin and Indrani Pillai, owners of the Cornell Inn and the Lakehouse Inn in Lenox, faced several operational challenges, especially in room bookings and guest preferences. They needed a solution to enhance the guest experience and streamline their operations. Here are the key challenges and outcomes they experienced:
Challenges Faced
Implemented GauVendi Products:
– Internet Sales Engine to replace the hotel’s booking engine.
– Sales Optimizer for automation of restriction management, including length of stays and close-to-stay management.
Outcomes Achieved:
– Reduced phone calls and email requests by 90%, saving over $100,000 in operating costs.
– Increased direct online bookings to constitute 50% of all bookings.
– Introduced user-friendly and transparent booking options, improving guest satisfaction.
– Achieved an 84% upsell rate to higher-value room products, with an increase in upsell revenue per room night of $33.86 USD.
– Upselling through attribute-based selling averaged $9.41 per room and night.
Significant Benefits:
– Reduced labor costs and communication overhead significantly.
– Enhanced user experience, resulting in a 10 times return on investment (ROI) following the implementation of GauVendi’s solution.
– Established clearer booking options, aligning guest expectations from the outset.
Here you can read the full article.
HIC NEWS OF THE WEEK 43