Maximizing revenues for your hotel in this age of lower occupancies and ADRs is the smart thing to do. Many hoteliers are struggling to create the internal processes and systems to successfully sell ancillary services.
Cost optimization and profitability: Cost-optimization has always been a central notion in revenue management. That being said, the pandemic brought renewed attention to the topic. Today, more than ever, proper cost control is crucial to navigate these difficult waters and prepare for the "new normal.
Nature and its ecosystem services are at the center of the hospitality business proposition: from food and beverage offers to guests' enjoyment of natural landscape at a destination. Nature is not only a 'capital' component available to businesses, but a source of solutions to mitigate and adapt to climate change and protect biodiversity while ensuring the well-being of staff and guests alike.
Everyone agrees that 2020 has been the "annus horribilis" for the world and in particular the hotel industry. However, despite having to tackle unprecedented challenges, many companies grasped that the crisis also presented a unique opportunity to re-invent and re-imagine their business.
According to the Global Travel Staffing Barometer, due to the pandemic, travel companies around the world have laid off or furloughed over half a million people, and the number of LinkedIn users in the hospitality space applying the #opentowork hashtag to their profiles grows day after day.
From the days of holidex, Fidelio v6 and Micros 2700 we have for the last 30 years been adding technology upon technology in hospitality. In my last classes with my students (online), one reoccurring question was always, "why is there not one solution that can do everything".
The discussion around the pros and cons of rate parity has been around for almost a decade now. Regulations on the issue are, at best, patchy, with some countries where RP clauses are strictly prohibited (such as France, Austria, Italy, and Belgium), partially prohibited (Germany and Sweden), announced (Switzerland), or still unregulated (US and Latin America).
Outsourcing companies are tipped to be benefitting from the current arduous environment characterised by occupancy fluctuations and labour shortages. Yet the problems are no different for external parties and some of the economies of scale inherent in the hotel are delegated down the line.
Google recently announced that they are going forward with their plan to block third-party cookie tracking through Google Chrome (Chrome commands 63% of browser market share). What this means exactly for hotels is not totally clear.
COVID has hit the global hotel industry hard. But as with every crisis, new opportunities surface. During the financial crisis of 2008/09, we saw Airbnb and Uber emerge.
Hospitality Net's World Panel is a thought-leadership platform where hospitality-industry opinion leaders share insights, views, ideas and reactions on important issues and events currently affecting the hospitality business. Each panel is made up of a select group of experts, and industry leaders who, by invitation, contribute succinct commentary on viewpoints which are suggested by panel-champs.
