Hospitality financial leadership – Welcoming imperfection

To maximize your effectiveness with your leadership team around the money you would be well advised to accept the fact that it’s an endless exercise. We must see that the idea of mastering the numbers is elusive. This imperfect reality is comforting and seeing the challenge we have as just another endless mountain to climb is very healthy.

By |May 16th, 2017|

Which revenue management technology is best for your property?

For many hoteliers, there is a great deal of confusion about the different revenue management technologies available on the market today. It’s hard to remember which technology calculates rates, which manages inventory, which updates the new prices to the online distribution channels, or if they do both.

Drive direct bookings without using direct links

Increasing traffic to your own website is one of the most important factors for a hotel’s success, as 100 per cent of all revenue from direct bookings are paid to the property with no acquisition cost. It is possible to increase your property’s website traffic by establishing direct links to your site so customers can reach yours via other sites. While this method is efficient, building direct links can be time-consuming and expensive.

By |May 15th, 2017|

The how to versus the want to

The business of managing the hotel finances is not terribly technical or complicated. What makes it challenging is that it’s usually a very large job involving many people. In a 500-room hotel, you can easily have 20+ forecast contributors. The communication system in the hotel is the key to both smooth management and predictive financial results. This is the how to.

By |May 12th, 2017|

How to get started with big data in your hotel

The whole conversation around big data is exhausting. The possibilities are endless. But here we are, every day, worried that we are sitting on a mountain of data but doing very little with it. But is it paralysis caused by these overwhelming possibilities? Or do you just think big data is best left to big hotels and chains?

A successful overbooking strategy

Simply put, a hotel that doesn’t apply overbooking is losing a big chunk of profitable revenue, as normally the high BAR rates are sold last. On days when there is incremental demand, the opportunity to sell 100 per cent of the rooms is there. In a market with lot of incremental demand, hotels need to pay extra attention in order not to lose out on revenues.

By |May 11th, 2017|

Hotel software reinvented: Having it all at your fingertips

In the highly competitive environment of the hospitality industry, there is a common denominator among the various day-to-day hotel management operations – they all need to provide instant gratification to guests without delay. To stay ahead of the competition, you actually need a platform integrating every aspect of your business to let you efficiently adapt to the ever-changing market situation in real time.

By |May 11th, 2017|

What makes the better hotel investment? Luxury or lifestyle?

If you’re looking to buy a hotel, what makes more sense as an investment? A high-end luxury hotel or a lifestyle, boutique establishment? We would all like to be rich enough to buy a trophy hotel in central London, Paris or Singapore. Imagine the kudos in being able to invite your friends round for dinner. But in reality, what presents the better value in terms of returns?

By |May 10th, 2017|

Rechaping the sharing economy with a fair and empowering platform for conscious travellers

traveliko is a booking platform that was conceived by a group of hospitality professionals who saw hotel profits squeezed due to the high commissions paid to the dominant global OTAs, which ultimately had a negative impact on the quality of services provided to guests.

By |May 10th, 2017|

The expansion of master plan communities designed to create balance

The most exciting trend happening in real estate development right now is the emergence of the LIVE, WORK, PLAY, WELLNESS master plan communities springing up in secondary and tertiary markets.  These communities encompass all sectors of real estate.

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