Revenue Experts: 'Don't Be Afraid To Take Risk' on Hotel Rates
Hotel revenue management experts are coping with increased prices for goods and labor by adjusting strategies to balance costs, demand and profitability.
External Articles
Hilton marketer on future-proofing the travel industry
The motivation behind travel has changed, says Ivy Esquero, director of integrated marketing, sales, and product enablement at Hilton Hotels. Ahead of the inaugural Spikes Asia Academy, a three-day (four-hour/day immersive bootcamp from September 14-16, 2022) called The Next, launched by Spikes Asia, the region's oldest and most prestigious award for creative advertising, the marketer from Hilton shares her insights and approaches the hotel used to pivot with new creative strategies and attract customers during the peak of the pandemic. Esquero talks to Campaign Asia-Pacific about the need to future-proof the industry "because nothing will be the same again."
Is Travel Taking The Wrong Approach To Personalization?
It’s fair to say that the travel industry has struggled with personalization, but perhaps it has relied too much on the experiences of the wider retail industry.
Hilton looks to new and emerging customers to re-up enthusiasm for travel
As consumers return to normal travel patterns, Hilton wants to re-energize people’s enthusiasm for travel by offering unique travel experiences.
How Hotels Are Trying To Entice Travelers To Return
From this summer’s air travel chaos to staffing shortages in hospitality sectors around the world, the impact of the COVID-19 pandemic on travel persists to this day.
Influencers are out - authenticity is in
The influencer economy is on the brink of a seismic shift. Catalyzed by the popularity of TikTok and its algorithm, which prioritizes content types over creators, brand marketers and digital agencies are increasingly allocating social media budgets toward user-generated content (UGC) from small creators and away from big-ticket deals with internet celebs. For many companies that pivoted to the UGC model out of sheer necessity during the pandemic—when staging photo shoots and video productions was out of the question—the results have been astonishing.
This hotel brand will pay for its staff's tattoos
In the cut-throat post-pandemic world of hospitality, getting the best employees is everything. Now one hotel group has decided to lure in stellar staff by offering a golden handshake -- of a free tattoo if they stick it out for six months.Germany's Ruby Hotels, which has 16 properties across Europe, is offering new recruits up to €500 ($511) to get a new tattoo, piercing or haircut once they reach six months of employment.And little over a month since the scheme started in June, applications to work with the brand have already gone up by 25% -- despite it being the summer holiday period in Europe."Given the shortage of staff in the hotel industry across Europe, this is a very satisfactory result," Uta Scheurer, Ruby's vice president of human resources, told CNN.
Expedia Group Targets 'High Lifetime Value' Customers
Travel remains a top spending area for consumers even as other parts of the economy are slowing, giving executives at Expedia Group confidence in the future of travel.
Google's Three Best Practices To Capture Travel Demand
The search giant says there has been a surge in queries globally related to travel in the last year. For example, searches for “cheapest countries to visit” were up 7000% between February 22 and April 22 of this year compared to the same period in 2021. Between December 28, 2021, and February 25, 2022, searches for “entry requirements” were up 600%, and searches for “book a flight” were up 70% compared to the same period a year earlier.
The answer is not the number of brands you have on the market, but the relevance of your brands
Interview with Eric de Neef, global Chief Commercial & branding Officer, Radisson Hotel Group. He deciphers with Vanguélis Panayotis, CEO Hospitality ON, the future trends of our industry.
Asian Hotels Look to 2-Tier Pricing for Recovery
The Malaysian Budget and Business Hotel Association recently called for a two-tier system for room rates, with foreigners paying more for accommodation than locals. The mechanism is expected to help Malaysia’s hotel sector generate higher income while remaining competitive in the region. As Thailand plans to raise hotel rates to pre-pandemic levels to ensure survival and faster recovery of the hotel industry, there had been reports that the country’s tourism ministry had also asked hotel operators to implement a dual-tariff structure under which foreign visitors may be charged new rates while locals could enjoy discounted rates. However, the two-tier price system in hospitality isn’t a new phenomenon, and is quite common in many countries. But while it may be effective in the short run to help the hotel industry bounce back after two years of Covid by making the most of those "revenge travelers," stakeholders have their doubts about it being an effective long-term strategy. "This could give rise to way too many tiers for each source market making it more difficult for travelers to decide or determine which product or service is right for them. With the choice now between destinations first then the hotels, travelers could lose interest in even considering the destination," said Kamesh Shukla, executive vice president, Asia Pacific, Middle East and Africa for RateGain....
Hilton Puts Marketing Focus Back on Hotels With New Brand Platform
Hilton Worldwide made two marketing moves on Monday. It formally launched an international marketing campaign that highlights a reliable lodging experience as an antidote to the unpredictability of travel today. In a longer-lasting move, the hotel giant also committed to anchoring its marketing to a catchphrase — “for the stay” — indefinitely.
Hotel Marketing Departments Aim To Capitalize on Bleisure Demand, Shifting Booking Patterns
Hotel sales and marketing departments have revised their strategies to win back guests, particularly business travelers and groups, which have lagged in the recovery of hotel demand from the pandemic.
Travel Brands Expand Tiktok Presence To Reach New Audiences
Travel companies are increasingly turning to video-sharing app TikTok to build brand awareness and attract new customers. As the most downloaded app two years in a row, TikTok holds the promise of global reach, while the video format allows travel providers to transport viewers to a destination while showcasing their brand personality.
How Hotels Are Leaning Into Unconventional Experiences to Bring Back Group Business
“Think outside the box.” It’s a mentality event and hospitality professionals have long leaned into—and during the struggles of the COVID-19 pandemic, have embraced more than ever.
Marketers investing big in influencer marketing
Seventy-four percent of marketers plan to spend at least a quarter of their social media budgets on content creator partnerships over the next 3-6 months, according to a new report.
Hotel Sales, Revenue Management Collaboration a 'Balance of Power' With Common Goal
As both the sales and revenue management divisions at hotel companies become more centralized and lighter-staffed, collaboration is paramount.
CEO of Raffles and Orient Express Stephen Alden on transforming the hospitality group
In the midst of overseeing the rebirth of the legendary Orient Express train, the launch of its sister hotel brand and the planning of 15 Raffles properties down the road, Stephen Alden, CEO of Raffles & Orient Express, grants Prestige an exclusive interview during a work trip to Singapore in April. Mavis Teo reports.
Hoteliers Urged To Prioritize Profits in Distribution Strategy
It’s never been more important for hoteliers to be on top of their overall distribution strategy and mindful of rates on the various channels they sell on, experts at the 2022 HSMAI Revenue Optimization Conference said.
Customer Service The Marriott Way
It was 1927, not quite a century ago, when J. Willard Marriott and his wife, Alice, opened an A&W root beer stand in Washington, D.C. Later that year, the Marriotts added some hot food items to their menu under the name Hot Shoppes. Over the next 30 years, the Marriotts honed their hospitality skills and expanded their restaurant business into food service for airlines. In 1957, they opened their first hotel in Arlington, Virginia. It was run by their son, Bill.