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 Decision Support - Revenue Management
Based on real-time demand forecasting by market micro-segment and an optimization model, Yield Management (also known as -Revenue Management- or -Real-time pricing-) is an economic technique used by many hotels to calculate the best pricing policy for optimizing profits generated by the sale of a product or service, based on real-time modeling and forecasting of demand behavior per market micro-segment. This section provides an overview of trends and developments in this field of expertise.
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 The Spa & Wellness Revolution
The spa industry is currently booming. Growth rates in the US are in the region of 25% per annum and, despite limited data, are thought to be even higher in the UK and Europe. At the same time, surveys show that hotels' spa department profits grew by approximately 50% and that high-end spas generate revenues in the region of US$30-40 per occupied room. In general hotel spa guests are not very price sensitive and adding a spa often means more guests, who spend more money and are more likely to return. And of course a quality spa facility helps enhance a hotel's overall competitiveness by distinguishing it from the competition.
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 Tsunami Strikes Tourism in South East Asia
After Bird Flu, SARS and Bali terrorist attacks... Asia tourism in parts of Southeast Asia will be devastated by the economic aftershocks of the earthquake-triggered tsunamis. Thai Tourism and Sports Minister Sonthaya Khunpluen estimated that some 200,000 employees in the tourism sector, the country's no. 1 foreign exchange earner, are expected to lose their jobs due to the disaster. Visit this Indepth section to learn more about the immediate impact as well as background articles, images and video coverage.PATA Foundation Tsunami Recovery FundMoney pledged to the Fund will directly help rebuild the skills and livelihoods of tourism employees in the affected region | Donate Now! | About the PATA Foundation
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 Industry on Strike
Right now, unions in San Francisco, LA and Washington, D.C are coordinating strikes to put pressure on national chains in contract negotiations. Given a history where hotel workers in each city have generally fought individual battles against the multinational hotel chains, this is an impressive ramping up of national strategy. But the real power of the move is that a key demand of negotiations in each city is for a two-year contract.
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 Meetings & Conventions Business
In 2004, aggregate economic growth of the North American and European meeting industry—combined with a resurgence in international travel—points to a welcome upturn. The overall size of the meeting industry will grow in 2004, with likely increases in indicators such as budgets, employment, proposal activity and employee training.
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 Design & Lifestyle Hospitality
While the hospitality industry has historically been slow in consumer trend innovations, this is changing with the proliferation of boutique/design hotels. This section provides a variety of information resources around this irreversible trend in hospitality. Featured sections include streaming interviews with design-hotel leaders and trend-setters, related events, related news, and an overview of architecs from around the globe... check back weekly for new updates.
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 Safety & Security Matters Post 9/11
Consumers are increasingly aware, lawyers are ever more litigious and the media increasingly willing to expose any safety or security weakness in a hospitality organisation or tourist destination. The hospitality industry is now realising that they not only have a moral obligation, but also may need to implement new safety & security strategies to be prepared to cope with incidents that can involve their clients.
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 Understanding Online Distribution
Unmistakably, consumers both in the leisure and business segment, are giving a clear sign to established lodging brands. The question remains whether The Next Wave of Distribution Technology actually Drives Incremental Room Nights or whether it represents a continued trend of Diluting Price? This INDEPTH area provides you with background information such as interviews and consultant articles, related books, related press releases and more...
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