“NEW WEEK. BRING IT ON.”
This week we have summarised following topics for you:
Enjoy and have a happy, sunny and successful week!
Laura and Jess
– by Oaky
In the face of numerous challenges, including inflation, recession, staff shortages, and rising operational costs, hotels are gearing up to achieve revenue targets in 2023. To help hotels optimize their revenue management strategies, we sought advice from Duetto, an award-winning revenue management software solution for hotels. Here are the key pointers we found:
To drive more direct bookings, hotels should focus on optimizing their websites for search engines and ensuring a seamless user experience. Being listed on major Online Travel Agencies (OTAs) is essential, but not at the expense of direct bookings. A well-optimized website coupled with good user experience will lead to increased brand awareness and more direct bookings.
Data-driven decision-making is crucial in revenue management. By staying informed about booking trends and using historical data to identify revenue opportunities, hotels can implement personalized offers and boost conversion rates. Collecting and analyzing guest data also enables hotels to improve in-stay guest experiences through better personalization.
Keeping up with market demand and competition requires continuous monitoring and real-time pricing adjustments. Revenue management systems like Duetto’s GameChanger provide advanced pricing analytics and segmentation tools. Utilizing Open Pricing methodology allows hotels to set rates independently for different room types, distribution channels, market segments, and stay dates, maximizing revenue opportunities without missing any booking opportunity.
Automated upselling can significantly impact a hotel’s profitability. Solutions like Oaky help present upselling opportunities to guests throughout their customer journey, generating additional revenue per guest on average. When combined with an RMS, dynamic pricing can be applied to room upgrades, early check-ins, and late check-outs, enhancing profitability further.
By understanding guest segments, hotels can tailor offerings, pricing, and services to meet specific needs, leading to improved customer loyalty and retention. Automation tools like Oaky simplify the process of segmenting guests and offering tailored experiences and upgrades.
In addition to these pointers, hotels should avoid common pitfalls in revenue management in 2023:
In a challenging hospitality landscape, implementing smart revenue management strategies is crucial for hotels to thrive in 2023. By combining data-driven decision-making, dynamic pricing, and automated upselling, hotels can enhance profitability and deliver a personalized and memorable experience to their guests.
Read the full article here.
– by Re:Guest
The article from Re:Guest emphasizes that newsletters do not directly serve the purpose of selling, but rather can create the foundation for high sales figures. The key lies in establishing a strong relationship between the business and the guest, which positively impacts booking and purchasing behavior.
To create newsletters that have a sales impact, personalization is crucial. This is achieved through a CRM system that automatically profiles guests and provides relevant data for sales campaigns. Detailed knowledge of the guest’s interests, such as preferred timeframes, vacation themes, activities, and additional services, is essential to achieve high open rates and move away from mass emails and mundane content.
The option for guests to choose their preferred channel (email, Re:Guest Messenger, WhatsApp) for receiving newsletters significantly increases sales success. Customers using the Sales Campaigns module with WhatsApp achieve up to 12 times better results compared to email distribution.
However, successful newsletters are not solely guaranteed by auto-profiling and multi-channel approaches. A strategic approach to newsletter marketing, thoughtful planning of distribution, and the creation of compelling content are crucial. A free whitepaper titled “Newsletters that Sell: The Ultimate Guide” offers further information and tips to maximize sales potential.
Here you can read the full article.
– by Cendyn
The article discusses the recovery of business travel and the rise of bleisure travel, emphasizing the need for hotels to adapt to changing travel trends. According to industry statistics, bleisure travel is not a passing fad, with 89% of global travelers wanting to add leisure time to their business trips. Business travel has been trending upwards year over year since 2019, indicating a positive trajectory for the industry.
Hoteliers can capitalize on these trends in several ways. Firstly, by attracting both business and leisure travelers, hotels can maximize their occupancy rates throughout the week, ensuring a steady stream of guests and revenue. Secondly, bleisure travelers tend to extend their stays, providing hotels with more room nights booked and increasing overall revenue. Thirdly, these travelers are more likely to spend on additional services and amenities, offering hotels opportunities to generate ancillary revenue. Lastly, delivering a positive bleisure travel experience can contribute to building customer loyalty, leading to repeat business in the future.
To effectively capitalize on these travel trends, hoteliers should leverage an integrated B2B and B2C CRM system. This approach allows for marketing automation, tailored marketing and communication strategies for different guest segments, and a centralized data source for enhanced guest experiences. Additionally, integrated business intelligence helps avoid data silos and enables better decision-making based on insights from various traveler types.
By embracing these strategies and being customer-centric, hotels position themselves as forward-thinking and well-prepared to cater to the evolving preferences of modern travelers.
Read the full article here.
– by opensmjle.
Booking accommodations online has become an everyday practice, and travelers seek convenience and a seamless booking experience. Here are the key features of a successful and user-friendly online booking process:
Conclusion: A good online booking process caters to the needs of modern travelers for convenience and a seamless booking experience. Intuitive design, easy navigation, mobile optimization, clear presentation of accommodation offerings, secure payment processing, and guest reviews are crucial factors to enhance the booking experience and gain guests’ trust. By considering these features, accommodation providers can optimize their online presence and boost the success of their direct booking strategy.
Read the full article here.
HIC NEWS OF THE WEEK – KW33