The unofficial definition of Revenue Management used by insiders is 'the art of turning away business'. This certainly does not apply during the current Covid-19 (coronavirus) global healthcare crisis, and the economic downturn the hotel industry is facing in its aftermath.
Hotel low season sales have long been considered to simply be an unfortunate fact of the industry. It brings less demand, and therefore, lower revenues too. But the industry has changed so much in such a short space of time, and hotels no longer have to accept that low season automatically means slow business.
It's that time of the year again when searches for queries such as "Hotel Marketing Trends 2020" or "Year in Review" literally explode. It looks like, every December, we all transform into new-year-resolutions-freaks.
A recent study by Walker predicts that the customer experience (CX) will overtake price and value as the most important unique selling proposition (USP) for customers by 2020. For hotels, it is therefore essential to focus on providing an exceptional guest experience.
Bleisure has become a booming customer segment for hotels. "Bleisure" is a portmanteau of the words business and leisure, and refers to corporate travellers which also add leisure activities into their stay.