Size really isn’t what matters, when discussing industry data

It’s been an exciting week for Revenue by Design. We have just launched our new website – take a look here www.revenuebydesign.co.uk  and busy preparing for next years conference ‘Revenue Manager in Evolution – Profit Manager, Data Strategist or Inventory Manager?’ Save the Date – 13th February 2018, London! More details here

In addition, we have been catching up with industry news – which centres on data management, optimising your Google presence and the market dynamics facing UK hoteliers. Catch up on the latest below!

When it comes to capitalizing on industry data, size isn’t what matters.

business documents on office table with smart phone and digital

The omnipresent data discussion needs to move from the volume of data to using the right types of data, with an infrastructure that can effectively leverage it. Then hoteliers can confidently reach ambitious profit goals. Paul Van Meerendonk from IDeaS shares his views on the ongoing data debate

Read more of Paul’s views on Data Management here

Hotelier’s Action Plan to Maximize Revenues from the Google Ecosystem

GOOGLE PAGE

Optimising the power of Google can be one of your best marketing strategies – but can also be hugely overwhelming. Read this excellent overview from HEBS Digital as to the Google Ecosystem and how you can make it work for you.

Click here for more information

Ideal distribution plan balances OTAs, direct channels

Woman Touching Screen Electronic Tablet Hand.Project Manager Researching Process

Presence on all distribution channels and access to guest data – just a couple of the take outs from the recent panel discussion at the Hotel Data Conference in Nashville. Read more about what the industry experts had to say about creating the optimal distribution strategy.

Read more about how to balance your optimal distribution strategy

The changing dynamics of the UK Hotel Market

LONDON

With so many factors impacting the UK Hotel market, hotels need to recognise there is no room for a ‘one size fits all’ approach.  this week, Michael McCartan of Duetto has presented an overview of key market challenges facing UK hoteliers.

The 6 key market changes facing UK hoteliers

 

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.

What do 71% of revenue managers believe their job title should be changed to as a more accurate reflection of their role ?

A growing school of thought within the revenue management community believes that ‘Profit Management’ would be a more accurate reflection of their role as the focus moves to optimisation of GOPPAR.  Read more below. And while the rest of the working world seems to be on holiday, Expedia has been busy making headlines with the launch of Expedia Powered Technology, a suite of technology products designed to assist hotels with multiple aspects of their business. A big shift indeed. Read on.

Changing role of the revenue manager

Brainstorming concpets.

As the role of the revenue manager continues to grow, 71% of revenue managers believe that the discipline should be recognised as ‘profit management’ with the emphasis moving away from RevPAR and TRevPAR to measures exposing the profit each guest contributes to the bottom line. Read about this and how the role of the revenue manager is changing in Eye for Travel’s latest report.

Click here to read further

Expedia launches new toolkit for hotels

Global Strategy Virtual Icon Innovation Graph Interfaces.Young Business Team

Expedia expands beyond distribution as its launches Expedia Powered Technology , a suite of products to assist partners industry challenges. This shift aims to assist hotels in the areas of loyalty, revenue management and MICE bookings.

More information on Expedia Powered Technology here

Hotels May Try to Counter Airbnb’s Rise With Bets on Tech

Human resources concept on tablet with hologram

The recent Hotel Data Conference in Nashville failed to reach consensus about the impact of Airbnb on the hotel market. However, leading figures within the industry gave their views as to how the threat of Airbnb might be addressed  – and tech initiatives and personalisation featured high on the list.

Read more here

Time for a Digital declutter ?

Keep it simple business concept for marketing, creativity, project management.

Avoid creating the ‘Paradox of Choice’ on your hotel website – simplification could be the answer to driving those much sought after direct bookings.  Get ideas as how to streamline the Book Direct experience on your hotel website here.

How to simplify the online experience

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.

 

 

 

 

 

 

 

 

 

So much more than cute cat videos….an insight into Facebook’s search functionality

In this weeks round up, we look at the search functionality of Facebook. With a user base that now exceeds 2 billion…..yes that’s right, 2 BILLION monthly active users, any insight into this phenomenon and how it can assist business is welcome. Also, a hotelier’s guide to Metasearch, hotel technology simplified and our keynote speaker from our conference earlier this year, Benjamin Habbel, talks data disruption.

Is Facebook the next Google? Facebook’s search functionality explained

facebook

With a recent study citing word-of-mouth and Facebook are the two largest sources of travel inspiration for millennials, we cannot ignore the reach and influence of Facebook on consumer behaviour. This article from Leonardo attempts to unravel the complexities of the search functionality behind this cultural behemoth.

Click here for more info

Hospitality: When Disruption Checks In

Benjamin Habbel, founder of Voyat, Vice President of Business Development at Intent Media and keynote speaker at ‘Seize Opportunity in Disruption’ (the industry leading conference we hosted in February – click here to see what you missed! ) provides an overview as to how embracing data disruption can bring its own benefits to the hotelier and the bottom line.

Read Benjamin’s thoughts here

The direct booking movement is moving to meta – what hoteliers need to know

Woman on Laptop

Triptease has put together a Hotelier’s Guide to Metasearch that includes everything that a hotelier needs to know about listing on metas.

Get up to speed on all things metasearch here

The Four Pillars of Hospitality Technology

Woman Touching Screen Electronic Tablet Hand.Project Manager Researching Process

The vast array of technology solutions now available to hoteliers can be overwhelming. Here, Larry Mogelonsky, leading hospitality consultant, attempts to provide clarity and focus when assessing the seemingly limitless technology options available to manage your hotel.

The Four Pillars of Hospitality Technology

 

Also don’t forget, our best in class training programmes are all set for the Autumn ! Visit our agenda here and commit to professional success and personal development as you enter 2018 !

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.

‘Don’t just look at the guy next door; run your own race’. How relevant is the traditional competitive set ?

Unsurprisingly, the 5th Annual Revenue Strategy Summit in Washington DC has provided much of the thought leadership week. Thank you to our friends at Duetto for this succinct summary of the key take outs from the conference which include Cindy Estis Green of Kalibri Labs questioning the value of the traditional competitive set. In addition, there is the spotlight on Rate Parity from leading figures in revenue management – and tips for independent hotels to stay in the game.

Hot topics from this years annual Revenue Summit

The Future is Now, Strategic Vision

Rate parity, the increasing importance of China as an inbound market, Airbnb (obviously) and the relevance of today’s revenue management metrics all made the agenda this week as industry leaders discussed the most pressing issues in the industry today. Read Duetto’s overview of the conference here.

Read the key takeouts here

Revenue management: Using data integration to move from tactics to strategy

Woman Touching Screen Electronic Tablet Hand.Project Manager Researching Process

Over the last decade, technological advances have changed the role of the revenue manager. What tools do revenue managers now need, to support this shift from tactical pricing management, to a more strategic commercial focus?

Click here for more info

The great Rate Parity debate continues !

PRICING

Hear the thoughts of four leading revenue managers on the turbulent rate parity battleground within Europe and what the future holds. No one ever said it was going to be easy!

Click for to read more

Revenue driving strategies independent and boutique hotels can’t afford to ignore

Entering hotel room

Without the marketing budgets of the large chains, independent and boutique hotels need to look at factors such technology, the relationship between meeting and event space and rooms, and the effective use of digital marketing if they are to optimise their revenue strategies

Click here to read more

 

Also don’t forget, our best in class training programmes are all set for the Autumn ! Visit our agenda here and commit to professional success and personal development as you enter 2018 !

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.

Which hotel departments are integral to a successful revenue management strategy ?

This week we look at how important it is that all your staff recognise their part in delivering the revenue strategy, building bridges between marketing and revenue management, and what are the real challenges for today’s hoteliers ? Read on !

8 ways you can engage your entire staff to become Hotel Revenue Generators

Chef

For those that think optimal revenue management is solely impacted by the work of your revenue specialist in the depths of the back office, its time to think again. Revenue management should run through the very heart of all of your hotel operations. Read the first part in a series from Rate Gain exploring how to develop this mentality throughout all departments within your hotel.

Read more here !

Seeking harmony between marketing and revenue management

Binding commitments

The relationship between marketing and revenue management is not always a harmonious one.  The importance of online as a distribution channel has meant that it is more important than ever that revenue management and marketing foster a cohesive working relationship. Here are some tips for a more effective and collaborative partnership.

Bridging the gap between marketing and revenue management

The challenges facing today’s revenue manager

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A recent Eye for Travel Survey reports on the factors that are proving to be the biggest challenges for today’s revenue manager. Competitor activity comes top of the list, followed by the impact of unforeseen events. Can you relate to the issues that challenge revenue and distribution strategies on a daily basis ?

What factors are impacting today’s revenue manager ?

 

What is the link between mobile bookings, OTA’s and guest satisfaction?

mobile-stratgey

Loyalty programs drive direct bookings, mobile bookings have doubled in the last 3 years and bookings through OTA’s have a lower guest satisfaction score. So says the findings in this year’s J.D. Power 2017 North America Hotel Guest Satisfaction Index Study. This means a mobile strategy is more important than ever for hotels.

Click here to uncover the findings of the study

Struggling to meet budget ?  Doing well but feel you could be doing so much better ? 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.

The important change to ‘rate parity’ practices that 47% of hoteliers know nothing about

This week’s round up of industry matters making the news, hopes to bring some clarity to metasearch channels, offer guidance on mobile and explores some recent legislative changes designed to promote increased competition – and what they mean for hotels.

Competition watchdog urges hotels to take advantage of demise of price parity

PRICING

Recent research indicates that 47% of hoteliers were not even aware that Booking.com and Expedia relaxed their insistence on rate parity, even though we are 2 years down the line. But they have – and hotels are urged to take advantage of this by becoming more competitive.

Read more here

Hotelier’s guide to optimising mobile

Man using his Mobile Phone in the street, bokeh

We all know mobile is growing with pace, and should be considered as important as desktop as a booking channel. But if confusion still abounds regarding what you need to be doing to ensure you are optimising this growing channel, this article should provide some pointers in your quest to be ‘mobile friendly’.

Mobile tips you can’t afford to ignore

Why the European Commissions ruling against Google is important for hotels

GOOGLE PAGE

The European Commission has recently fined Google for employing unfair practices by preferencing its own shopping comparison service at the top of the search results. What led to this decision ? What does it mean ? And why it matters to hotels.

Discover the importance of the recent ruling

Which metasearch channel is best for your hotel ?

So what?

The metasearch landscape can be confusing. Functionality changes and upgrades can pass hoteliers by, and it can be hard to stay ahead of each channels offering. Hopefully, this handy comparison will help !

Uncover which channel is best for your hotel

The importance of human intervention when managing your revenue strategy

Businesspeople sitting together using digital tablet

While technology is undoubtedly a vital part of the revenue manager’s toolkit, it should not be implemented at the expense of human intervention. Ideally, technology should facilitate automation, freeing up the revenue managers time to focus on strategising and optimising key dates and periods of high demand.

How technology and the human element can work hand in hand

Don’t let your revenue management challenges keep you awake at night. 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.

 

 

 

 

What are the key revenue management challenges keeping independent hoteliers awake at night ?

This week’s round up of our favourite industry news we look at the challenges faced by independent hotels when managing their revenue management function. We also look at the dominance of Google in the metasearch arena and hear from industry leaders as to the trends impacting hotel distribution, and direct bookings.

 

The revenue management challenges faced by the independent hotel

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Independent hotels face a unique set of challenges when implementing their revenue strategy. Here, in the second in a series of articles from Net Affinity, both internal challenges, and those from the within industry are examined,  and guidance  offered on how to manage them.

Revenue management challenges for the independent hotel

 

Google’s rapid rise in the metasearch space

Woman Touching Screen Electronic Tablet Hand.Project Manager Researching Process

 

A recent report by Fastbooking indicates that Google’s investment in Hotel Ads is reaping rewards as their rise to dominating the market shows no signs of slowing down.

Read more about Google’s growth here

 

The 5 key factors propelling hotel distribution

Man using his Mobile Phone in the street, bokeh

At the recent NYC International Hospitality Industry Investment Conference, experts discussed the future of hotel distribution. Unsurprisingly, technology dominated the agenda with mobile, data capture and voice search all featuring in discussions.

Read more here

 

Revenue management for the inexperienced

Businesspeople sitting together using digital tablet

Revenue management is too crucial to be ignored even if you are not a revenue manager or don’t have the scope to hire one. Here are some guiding principles for the non-revenue manager to ensure you are optimising your profitability.

Click here for the ‘Beginners Guide’

Driving Direct Bookings – the CEO’s speak

Hotel receptionist with phone and guest

While leading hospitality CEO’s are all in agreement as to the value of direct bookings, their approach as to how to drive these can differ. Read what industry leaders have to say here.

Read the thoughts from the top here

 

Don’t let your revenue management challenges keep you awake at night. 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.