Turnover rates in the hotel are just nightmarish. It’s such a massive problem that some hotels find they’re replacing more people every year than there are jobs in the hotel. It’s a crazy situation that has the entire industry perplexed. And it’s costing everyone a lot of time and money. Industry wide, the average annualized [...]
The industry calls it inventory. But for you, it’s your livelihood. So, selling all those hotel rooms as many nights of the year is an absolute must. Yet, figuring out the right mix of business for your specific hotels’ needs is a challenging puzzle. Simply figuring out what rooms to allocate to different potential revenue source is [...]
What is Customer Acquisition Cost (CAC)? We know that you want to get reservations from as many sources as possible, but do you know how much you are making from each channel? That’s one thing many hoteliers simply do not understand. Yes, you may be putting out that same rates on different channels, but all [...]
The hotel industry is in the midst of a technology revolution. And it’s changing everything we know about how we run hotels and service guests. Though it’s a future fraught with challenges, it’s also one chockablock of opportunity. It’s simply a matter of understanding the trends and preparing how to take advantage of them as [...]
Lodging Conference Lessons Each fall, the Lodging Conference is always one of the most interesting and dynamic hotel industry events of the year. This year, many influential executives, owners and developers were in attendance and a record 1,800 people attended the Conference. Here are some of the key takeaways from the event and how you [...]
The typical hotel customer is changing. Technology, social shifts and other consumer trends are combining to create a new class of customer; one that’s savvy, has increased expectations, and knows exactly what they want. To keep up, hoteliers must arm themselves with the latest strategies capitalizing on current and emerging hospitality trends. We know; you [...]
The hotel industry is a forever morphing beast. Fads come and go – think, computer keyboards for hotel room TVs – and that sometimes costs hotel owners a lot of money for little payback. But there are changes in this business expected to be long term trends. Trends that we believe should generally be followed [...]
The hotel business needs human connection more than ever. As society continues to become more and more powered by technology, there’s a big risk of losing the personal element that’s defined hospitality for millennia. It doesn’t have to be that way. But you must approach this new era strategically. The main problem: encroaching technology has [...]
Did you know that according to the Bureau of Labor Statistics, the average employee turnover rate for the hospitality industry was 6.3% in May and 6.0% in June? If that trend were to continue, that would be an annualized percentage of 73.8%. When compared to the 3.45% turnover rate for the same time compared to all [...]
The days of continually setting rates manually are over. Both costly and time consuming, setting rates by hand is not only outdated, but prone to human error. Imagine the savings you can create by eliminating all those people hours changing rates up and down across myriad channels. Plus, automatic rate setting helps to ensure you’re [...]
