And this week’s burning questions are…..

 

…. ‘Is organic search dead?’ ‘Is open pricing the future of revenue strategy ?’  Our round up of this weeks headline making articles attempt to answer these, and other issues, below. Hope you are keeping cool and happy reading !

Open pricing – a new way of thinking about hotel distribution

Global Strategy Virtual Icon Innovation Graph Interfaces.Young Business Team

Open pricing ensures that your hotel never unnecessarily closes off an offer or distribution channel if a room remains open for booking. Is this the new generation of revenue strategy ? Michael McCartan, MD EMEA of Duetto, shares his thoughts

A new way of thinking about distribution

Three digital dimensions transforming the hospitality industry

pexels-photo-241544

This overview from Cedric Michiels, explains how the collaborative economy, the multi faceted world of digital marketing and the impact of Big Data are all having significant effects on the hoteliers role .

 

Read more here

Is organic search dead for hotels ?

GOOGLE GRAPH

The digital landscape is changing with speed. The increasing presence of paid advertising, combined with the growth of mobile as a booking channel have undermined the impact of organic search as a tool in the hotel marketers toolkit. But the travel planing and booking process is a complex one – and there are still ways hotel marketers can manipulate the potential of organic search for their own benefit.

Read how all is not lost with organic search

Search marketing trends you cannot afford to ignore

man-coffee-cup-pen

The top Search Engine marketeers give their industry leading trends that all savvy hotel marketeers need to be aware of. Chatbot, Adwords Next and Audience Targetting are just some the developments that cannot be ignored. Read all about it here

Read more here

If your burning questions are still unresolved, contact us to enquire about our training, outsourced revenue management and problem solving services designed to drive revenues and transform businesses. Contact Michelle on michelle@revenuebydesign.co.uk or on 07718 650 349 to discuss your individual revenue management requirements.

 

 

 

 

 

 

 

 

Why pricing alone is not enough for a winning revenue management strategy….and Airbnb – the hoteliers friend, or foe ?

This week’s industry highlights look at the increasing dominance of both OTA’s and Airbnb in the hotel landscape- as well as the spotlight on the role of pricing in revenue management.

Revenue management is more than just pricing

Global Strategy Virtual Icon Innovation Graph Interfaces.Young Business Team

It is apparent there is still significant confusion in the hospitality industry when it comes to the role of pricing in revenue management. But as this article suggests, pricing needs to go hand in hand with availability management if hotels are to optimise their revenues.

Availability management crucial for successful revenue management

How Chatbots look to impact the hotel experience

smartphone-1894723_1280

In two years time the average person will have more conversations with bots than with their spouse – according to Gartner. How is this going to impact the hotel experience ?

Chatbots and the future of the hotel industry

 

As third party commissions continue to rise, what next ?

Profit, Finance Concept

With a 7% increase in commissions paid to intermediaries over the last year, it would appear that the ‘Book Direct’ initiatives and focus on loyalty programs are failing to reverse the trend. So faced with this, what should hotels be doing now ?

Read more here

Friend or foe -what do leading hotel chains really think of Airbnb?

seller transfers key to the house in hands of buyer

Skift recently interviewing leading CEO’s in the world of hospitality to find out what they really thought of Airbnb and how it’s meteoric rise is impacting the industry.

Read the thoughts of Marriott, Accor and Expedia among others

 

Revenue by Design specialise in training, outsourced revenue management services and project management designed to drive revenues and transform businesses. Contact Michelle on michelle@revenuebydesign.co.uk or on 07718 650 349 to discuss your individual revenue management requirements.

The value of accurate segmentation…and Expedia’s revenue management tool, Rev+, launches in the UK

This weeks round up of industry news making the headlines includes exciting news from Expedia….and could we be looking at a possible  new metric that recognises the value of the direct booker??

 

Expedia’s revenue management tool launches in UK

Global Strategy Virtual Icon Innovation Graph Interfaces.Young Business TeamFollowing its launch in the US last autumn, Expedia bring its much anticipated Revenue Management system, Rev+, to the UK.

Read more here

 

 

How Personalized Is Your Hotel’s Digital Marketing Strategy?

Hotel receptionist with phone and guest

Having attended a marketing conference this week, the personalisation discussion is far from old news. And hotels have a long way to go, if they are to compete with our counterparts in the online retail space.

Read more here

 

Segmentation is crucial to an effective revenue management strategy – make sure you are getting it right

accountant

Well informed, data driven decisions drive a successful revenue strategy – and effective segmentation is at the heart of this. Here are some winning insights into how your segmentation can be improved

 

Read more about the importance of segmentation

 

GOPPAR. TRevPAR. DiBPAR………DiBPAR?!

Businessman thinking

Kalibri Labs research has shown that bookings via a hotel’s website are more profitable by 9% than those on OTAs – should we therefore be looking at a new metric to measure the revenue per available room generated through direct bookings ? DiBPAR ?

The vital hotel performance metric that nobody’s talking about

 

What should hotels be doing to stop losing out to the sharing economy ?

Hotel Lobby

With Phocuswright projecting private accommodation bookings will grow from 12% to 16% of total bookings by next year, there is still much hotels can do to mitigate losing market share.

How hotels can compete in the new sharing economy

 

 

Revenue by Design specialise in training, outsourced revenue management services and project management designed to optimise your revenue strategy. Contact Michelle on michelle@revenuebydesign.co.uk or on 07718 650 349 to discuss your individual revenue management requirements.

Evolving landscapes require evolving strategies

The common theme of this week’s industry highlights is change. Change in digital technology, changes in booking behaviours, changes in the competitive landscape for hotels. But with change comes opportunity- read more below !

 

Digital Revolution within Hotels : The challenges and opportunities

Woman Touching Screen Electronic Tablet Hand.Project Manager Researching Process

The hospitality business, like many other industries, is being transformed by the digital revolution. How can hoteliers navigate these challenges and create opportunity within this changing landscape ?

Read more here

 

 

Latest study highlights the importance of a strong digital presence

Man is shopping online with laptop

As a study by Phocus Wright, indicates that an average of one out of every two online hotel bookers is already using metasearch as the first step in finding their hotel, there is increasing pressure on hoteliers to go online and go digital.

Read more here

A rapidly changing market is driving the need for a revenue rethink

Business People Meeting Growth Success Target Economic Concept

Online consolidation, growth of the sharing economy, new entrants, changes in booking behaviours. The booking market is changing with pace…. and the demand for an intelligent revenue strategy is greater than ever.

Uncover how the savvy hotelier should be prepared for this changing landscape

 

Airbnb Traffic Surges, Surpassing Older Brands -Traffic to the site is up more than 30% since last year

seller transfers key to the house in hands of buyer

Astonishingly, according to data from SimilarWeb, Airbnb,is now drawing more traffic than any other hotel brand or metasearch site. Unsurprisingly, it is millenials fuelling this growth.

Read more here

 

The world of revenue management, distribution and digital marketing is changing rapidly. Staying ahead of these developments is challenging. Revenue by Design specialises in training, outsourced revenue management services and project management designed to optimise your revenue strategy. Contact Michelle on michelle@revenuebydesign.co.uk or on 07718 650 349 to discuss your individual revenue management requirements.

 

How to explain a revenue management strategy that only you know makes sense – and what the ‘Book Direct’ battle really means for European hotels.

This week, our favourite industry articles provide tips on revenue management for independent hotels, ideas to simplify the marketing of your hotel, and how to explain a revenue strategy that you know makes sense, but seems unintuitive to your wider team.  Also, what the Book Direct conflict really means for European hotels.

How Europe’s fragmented hotel market is impacting the Direct Booking War

Tug of war

A recent discussion at PhocusWright Europe highlighted that fact that while over 60% of US hotels are branded, this number falls to less than 25% in Europe’s fragmented market. This makes the nature, and outcome,  of  the Book Direct vs. OTA conflict very different in the two continents. Fragmentation in Europe means that its much harder for hotels to try and increase direct bookings.

Read more from the PhocusWright Europe discussion

 

The 10 Things That Matter to Hotel Marketers Right Now

Businessman thinking

Hotel marketers- don’t get bogged down in all the latest digital and technological developments that we hear about on a daily basis. Elevate yourself out of the confusion with this simple guide to the key factors to focus on to ensure effective marketing of your hotel.

What should your marketing focus be ?

 

The independent hotel’s guide to revenue management success

PRICING

Lacking the power of the large chains when it comes to negotiating with the OTA’s or sizeable budgets to invest in technology, independent hotels have to think and work smart to optimise their revenue strategy. This overview from Net Affinity outlines the what the savvy independent hotel should be focusing on for success.

Click here to read more

 

How technology can optimise every stage of the guest experience

Businesspeople sitting together using digital tablet

Gone are the days where marketeers focused on just the planning and booking stages to speak to guests. Advances in marketing technology means that hotels have the opportunity to impact every one of the seven steps of the customer journey.

How technology can optimise every step of the guest experience

 

How to solve the puzzle of ‘unintuitive’ revenue management

Four Individuals at a meeting

When faced communicating pricing decisions that seem unintuitive to the wider audience, revenue managers often struggle with how to convey the rationale that has led them to follow their chosen strategy. Recently Kelly McGuire, Vice President, Advanced Analytics of Wyndham Destination Network, offered some advice as to the best way to communicate strategies that don’t seem to make sense at first glance.

Read Kelly McGuire’s thoughts here

Changing booking behaviours require new revenue strategies…and the ‘Brand’ vs ‘OTA’ debate heats up !

In our round up of this week’s hot topics, we see more on the impact of of technology on booking patterns and as a result, revenue management strategies. And the ongoing discussion, Book Direct vs OTA’s, becomes ever more interesting !

How technology is shaping a new breed of traveller

mobile-stratgey

Having an understanding and a strategy for digital technology and mobile sites is key to successfully being able to reach the “new” traveller. And hotels need to find the balance between satisfying the self sufficient traveller, and providing exemplary customer service.

How technology is changing customer behaviour

How changes in booking patterns are forcing hotels to rethink their revenue strategies

Picture of man writing data source for demand forecasting on transparent board

Technological advances, a more educated booker and increases in spontaneous travel are all changing the booking patterns for hotels. The rise of the ‘lastminute’ traveller, means that hotels are having to rethink their revenue strategies and consider associated factors such as rising cancellation rates.

Read more here

Marketing automation can transform your Meetings and Events Business

Empty meeting room

Marketing automation in the hotel world has been around for some time. But latest advances, can take your meeting and events business to a new level – and its not as complex as you may think.

Click here for more info

The ‘OTA vs Book Direct’ debate intensifies

Tug of war

Consolidation of the OTA landscape, combined with huge investments in ‘Book Direct’ campaigns by leading hotel brands, means that the playing field in the OTA vs Book Direct debate is changing – and the discussion becomes ever more complex. And according to this article from Phocus Wright, the battle looks to get ever more interesting.

Read the latest insight into the hotly contested debate

The world of revenue management, distribution and digital marketing is changing rapidly. Staying ahead of these developments is challenging. Revenue by Design specialises in training, outsourced revenue management services and project management designed to optimise your revenue strategy. Contact Michelle on michelle@revenuebydesign.co.uk or on 07718 650 349 to discuss your individual revenue management requirements.

Is the traditional revenue manager role outdated, why hoteliers should be selling room features and a record Q1 for London !

Great news for Quarter 1 for London with record RevPAR, helped by a weak pound and late Easter. Also, in this week’s round up, the ongoing evolution of the revenue managers role, some news from TripAdvisor and how focusing on selling room features could satisfy guest demand’s for increased personalisation.

Is the traditional role of a revenue manager outdated ?

Demand Forecasting for Hotels to improve Revenue Management processes - without an automated system

 

As the role of a revenue manager becomes evermore complex, encompassing an understanding of digital marketing, the requirement to price by market and an increased focus on TRevPAR, to name but a few, is the traditional role of the revenue manager as we know it redundant ?

The changing role of the revenue manager

Record breaking quarter one for London !

LONDON

The first quarter of 2017 saw London’s hotel industry posting its highest revenue per available room (RevPAR) for any first quarter on record, according to data from STR. Devaluation of the pound, combined with a late Easter contributed to this. Also interesting to note is that London is the development hot spot of Europe – with 13000 new rooms in the pipeline.

 

Read more about London’s record breaking Q1

Hotels are failing to meet demands for personalised stays – selling room features could be the answer

Entering hotel room

For all the talk of how today’s guest seeks personalisation when booking their stay, the ability to build your own unique experience when booking online does not match expectations – hotels need to up their game and be creative to drive guest satisfaction.

Why hotels have to be smarter about how they sell hotel rooms

A change in strategy for TripAdvisor

Skift reports this week that TripAdvisor management has  decided that it doesn’t want the company primarily to become a hotel- booking site, per se. Instead, it will tilt toward metasearch for now.

Read more about the strategy reversal here

Don’t forget, if you are facing revenue challenges, or believe you are not achieving the level of growth you could be, contact us to find how how our revenue solutions could transform your business. Contact Michelle on 07718 650349 or michelle@revenuebydesign.co.uk to find out more.