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Business

How to Build an Effective Commercial Hotel Organization in 2024

2024-01-16T17:06:53+01:00

A hotel’s commercial team—revenue management, sales, and marketing—is critically important to the financial health of a property. When working harmoniously, these functions combine to ensure a property is filled with high-value guests while minimizing acquisition costs as much as possible. However, “harmonious” is an unlikely descriptor for many hotel commercial teams. 3 Ways to Build an Effective Commercial Hotel Organization

How to Build an Effective Commercial Hotel Organization in 20242024-01-16T17:06:53+01:00

Hotel Marketing Plan: Tips & Tricks for Successful Hotel Marketing

2024-01-25T15:31:05+01:00

Hotel Marketing Plan A hotel marketing plan is a comprehensive strategy outlining how a hotel will attract and retain guests. It's important because it guides the hotel's promotional activities, targets ideal customers, and sets goals for revenue generation. A well-crafted plan is essential for a hotel's success in a competitive market. Key Takeaways Segmentation Analysis: Vital for tailoring marketing to

Hotel Marketing Plan: Tips & Tricks for Successful Hotel Marketing2024-01-25T15:31:05+01:00

Hospitality Business: How to Start a Successful Hospitality Company

2023-12-24T15:16:53+01:00

Hospitality can be a challenging industry for a new business owner. If you're thinking about starting a new business in the hospitality sphere, this is the article for you. Read on to discover everything you'll need to know about the basics of starting a hospitality business, with key tips and important resources to help you get off to the right

Hospitality Business: How to Start a Successful Hospitality Company2023-12-24T15:16:53+01:00

Hotel Budget Plan: Practical Budgeting Tips for Hoteliers

2023-12-24T15:02:08+01:00

A hotel budget plan is a projection of financial earnings and expenditures over a defined period of time, allowing your hotel to understand its financial status and determine how much money is available for planned or unplanned projects. In this article, you will be able to learn more about what a hotel budget plan is and why it is so

Hotel Budget Plan: Practical Budgeting Tips for Hoteliers2023-12-24T15:02:08+01:00

Hotel Asset Management: Definition, Importance, and Practices

2023-12-24T15:08:10+01:00

Hotel asset management can help to maximize revenue, minimize costs, and improve your hotel's brand. By taking a big-picture view of your hotel business and conducting detailed analyses of your hotel's aspects, hotel asset management can take your hotel from strength to strength. Read on to discover what hotel asset management is and what it means for your business. Table

Hotel Asset Management: Definition, Importance, and Practices2023-12-24T15:08:10+01:00

Top 3 Goals for Independent Properties and Strategies for Success

2023-12-20T17:33:29+01:00

They say after the storm comes a calm. However, the storm has yet to pass in the hospitality industry. While seeing the light again is possible, the industry still navigates in turbulent waters. Why? With a fierce competition of over 17.5 million guestrooms in 187,000 hotels (1) worldwide, independent hotels know they have to compete for their share of business

Top 3 Goals for Independent Properties and Strategies for Success2023-12-20T17:33:29+01:00

Hotel Business Plan: Write a Successful and Effective Hotel Business Strategy Plan

2023-12-24T14:53:52+01:00

A hotel business plan is essential for anyone starting a new enterprise in the hotel industry. A business plan is a document that identifies your goals, objectives, and success strategies. It will be the foundation for your new operation. In this article, you'll learn how to create a detailed and effective business plan for your hotel. Table of Contents: What

Hotel Business Plan: Write a Successful and Effective Hotel Business Strategy Plan2023-12-24T14:53:52+01:00

Hotel Market Segmentation: Effective Tips & Strategies for Hoteliers

2023-12-24T14:53:17+01:00

Hotels want to attract as many guests as possible to maximize revenue. One of the best ways to achieve this is to segment the hotel market so that different groups of people can be targeted with different marketing messages, pricing strategies, and services. In this article, you will learn some hotel market segmentation tips and strategies for hoteliers to use,

Hotel Market Segmentation: Effective Tips & Strategies for Hoteliers2023-12-24T14:53:17+01:00

How to Start Hotel Business: 10 Steps for Launching a Successful Hotel Business

2023-12-24T14:54:28+01:00

Deciding how to start a hotel business is always complex. There are many factors to consider: the location, the type of hotel you want to run, the clientele you want to attract and the services you plan to offer, and more. In this article, you'll discover everything you need to know when considering a new hotel business. Table of Contents:

How to Start Hotel Business: 10 Steps for Launching a Successful Hotel Business2023-12-24T14:54:28+01:00

Should Hospitality Marketing be Managed In-House or Outsourced?

2023-12-06T12:39:03+01:00

Question for Our Hotel Marketing Expert Panel Should hospitality marketing be managed in-house or outsourced to an external agency? With many hospitality brands operating with smaller teams, what marketing activities could be outsourced easily? Our Marketing Expert Panel Dustin Caromano - Director of Marketing and eCommerce, Première Advisory Group Tamie Matthews - Revenue,

Should Hospitality Marketing be Managed In-House or Outsourced?2023-12-06T12:39:03+01:00

Cliches About Revenue Management, Guests’ Quality, and Brand Reputation

2023-12-06T13:07:56+01:00

What do hoteliers resist about revenue management? One common pushback is lowering prices below a certain psychological threshold. Yet, it's essential during low demand and pays off later. Some hoteliers believe: "I cannot sell below a certain figure because otherwise low-quality guests will arrive and lower the hotel's image; I prefer to stay empty and not sell." Yet, those who

Cliches About Revenue Management, Guests’ Quality, and Brand Reputation2023-12-06T13:07:56+01:00

The little-known Housekeeping Data That Can Boost Your Hotel Business

2024-01-18T17:05:52+01:00

Are you measuring housekeeping data? You should. Your guests or the activities drive the housekeeping services it takes to run the property. After all, a room must be cleaned because someone slept in it. So, to understand your property's operations, how costs are created, and how to improve, you need to dive deeper into the catalysts triggering your services. And

The little-known Housekeeping Data That Can Boost Your Hotel Business2024-01-18T17:05:52+01:00

Hotel Financing: Learn How to Finance Your Hotel Business

2023-12-24T14:37:46+01:00

Whether you want to construct a new hotel or purchase an existing one, you will need hotel financing to cover the costs. Thankfully, there are a variety of options to choose from. In this article, we will explore these different financing types and provide tips to boost your chances of success when acquiring funding. Table of Contents: What Is the

Hotel Financing: Learn How to Finance Your Hotel Business2023-12-24T14:37:46+01:00

Hotel Management Companies: Top 8 Biggest Hotel Management Companies

2023-12-24T14:46:23+01:00

Hotel management companies are a huge component of the hotel industry. These companies operate hotels for hotel owners. They range from small organizations that operate one or two establishments to large global businesses managing hotels all over the world. In this article, you'll learn everything you need to know about the eight most significant hotel management companies in today's industry.

Hotel Management Companies: Top 8 Biggest Hotel Management Companies2023-12-24T14:46:23+01:00

Hotel Business: Factors to Consider When Starting a Hotel Business

2023-12-24T14:30:32+01:00

Starting a hotel business is an exciting prospect. You'll be entering the hotel industry, an economically and socially important sector offering various opportunities at all skill levels. Before you jump in, though, some essential factors must be considered. In this article, you'll learn everything you need to know as you prepare to enter the industry. Table of Contents: What Is

Hotel Business: Factors to Consider When Starting a Hotel Business2023-12-24T14:30:32+01:00

10 Tips in Building a Business Case for an RMS

2023-12-06T15:04:31+01:00

When you're trying to get your team on board to purchase a revenue management system (RMS), there are a few key things you'll need to keep in mind. Of course, you already know the benefits of utilizing an RMS. Your company will earn more revenue, become more efficient, free up time, and make better-informed decisions. You're already on board. Now

10 Tips in Building a Business Case for an RMS2023-12-06T15:04:31+01:00

What to Include in Your Hotel’s Brand Guidelines?

2023-12-06T15:06:18+01:00

When potential guests interact with your hotel's brand for the first time, they develop an impression within seven seconds or less. Your brand identity is the personality that defines your hotel in your guest's eyes. This includes your visual design, unique selling point, brand values, value propositions, and how your brand interacts with customers. Crafting a solid brand identity builds

What to Include in Your Hotel’s Brand Guidelines?2023-12-06T15:06:18+01:00

Hotel Investors: Pros and Cons of Investing in Hotels

2023-12-24T14:26:22+01:00

Hotel investors can benefit from the potential for high yields, favorable tax rules, and access to hotel facilities while also diversifying their property portfolio. However, at the same time, it is sensible to look at possible disadvantages associated with investing in hotels too. This article lets you learn more about hotel investment opportunities and explore the main advantages and disadvantages.

Hotel Investors: Pros and Cons of Investing in Hotels2023-12-24T14:26:22+01:00
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