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.
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.
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?
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.
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.
Expectations. I hear this word from almost all GMs, controllers and hotel executives. It’s the wrong word and it’s not an effective way to manage. In our lives, few things make us less productive and more distant than other people’s expectations of us. Expectations are everywhere in our work and personal lives and people detest them. Who are you to have an expectation of me?
What does innovation mean to food and beverage specialists, given their respective working structures and cultures? AccorHotels' CEO of global F&B, Amir Nahai told a recent panel discussion at Ecole hôtelière de Lausanne that, for the hotel group, innovation is all about getting closer to their customers.
The emergence of smart technologies and their interaction with the hotel and B&B market has resulted in future growth prospects becoming less apparent. With the rise of apps such as Airbnb and Hostelworld becoming players in the market, this is compromising the traditional hotel space’s ability to compete competitively in the market.
The taxi pulls away from the driveway and a deep sigh of relief washes over you. This troublesome guest has finally left. Which hotelier doesn’t experience this time and again: Having to accommodate guests that make it pretty difficult to be a gracious host. From arrival to departure it’s all about their unmet expectations and their disappointment.
Today, upwards of 95 per cent of people look to online review sites when making travel plans and before booking their hotel stays. Those who don't read the reviews are apt to rely on the ratings systems to make their selections. According to estimates, a one-star increase in a hotel’s rating can translate into a 10 per cent increase in bookings and revenue.