🏨 Luxury hoteliers: There's a new article from Jason Freed over on International Luxury Hotel Association's new website that discusses how to maintain a healthy bottom line by shifting focus to cost reduction. With recent forecasts pointing to flatlining demand and increased pricing pressure, Freed says many luxury hotel owners and operators find themselves re-evaluating plans for the remainder of 2024 and beyond. Real-time data utilization, allowing leadership to regularly revisit expense projections to maintain profit margins, has become crucial. Check it out! #TotalProfit #ILHA #LuxuryHotels #Hospitality #HotelData
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Thank you for sharing, #ILHA. Economic headwinds and downward pricing pressure mean operational efficiency and cost-cutting are going to be the name of the game for the near term. There are things you can automate and ways you can reduce spending that won't hurt all the progress you've made on improved guest experiences. Some ideas below!
🏨 Luxury hoteliers: There's a new article from Jason Freed over on International Luxury Hotel Association's new website that discusses how to maintain a healthy bottom line by shifting focus to cost reduction. With recent forecasts pointing to flatlining demand and increased pricing pressure, Freed says many luxury hotel owners and operators find themselves re-evaluating plans for the remainder of 2024 and beyond. Real-time data utilization, allowing leadership to regularly revisit expense projections to maintain profit margins, has become crucial. Check it out! #TotalProfit #ILHA #LuxuryHotels #Hospitality #HotelData
Data Helps Luxury Hoteliers Reduce Costs and Operate More Efficiently
https://theilha.com
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5 Star Hotel Organizational Chart: Creating 5 Star Hotel Hierarchy. https://lnkd.in/dcPDxaeu #hotels #5starhotelorganizationalchart #hotelorganizationalchart #5starhotel #hotelbooking #directbooking #onlinebooking #hotelrevenue #revenuemanagement #onlinemarketing #digitalmarketing #hotelmarketing #sales #marketing #reservations #bookingengine #channelmanager #otas
5 Star Hotel Organizational Chart: Creating 5 Star Hotel Hierarchy
https://www.revfine.com
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Curious about the latest trends in loyalty programs? 📈 Read the recent post from our board member about loyalty programs and branding. #Hospitality #LoyaltyPrograms #IndustryInsights
Loyalty can't be measured, but results can. In 2023: - Hotel loyalty programs contributed over 50% of room nights sold. - Loyalty point redemption revenues increased 11% y/y - Loyalty members per room increased 6.4% y/y And all for less than a cup-of-coffee-PAR, exact figure in the report. In most cases, is "to brand or not to brand" even a question? Leave your thoughts in the comments below. Christine Bang, Robert Mandelbaum, Cole Mortland, Jennifer Bainger, Erin Mulvania, Darice Fichter Rose, Tommy Crozier, Marriott International, Hilton, Hyatt Hotels Corporation, Accor, IHG Hotels & Resorts, Choice Hotels International, Wyndham Hotels & Resorts, CBRE, CBRE México, CBRE Valuation and Advisory, CBRE Hotels, #cbrehotelsresearch, ILHA East Coast Chapter, USA, International Luxury Hotel Association
Hotel Loyalty Programs: Betting on the Law of Large Numbers
cbre.com
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https://lnkd.in/gdS4w9Gk Today’s leading hoteliers are adding a more comprehensive analytics metric into their performance assessments: Revenue Per Available Guest (RevPAG) #PMS #Hospitalitytechnology #hotels #RevPAG
Measuring hotel metrics beyond RevPAR with RevPAG
https://www.traveldailymedia.com
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Loyalty can't be measured, but results can. In 2023: - Hotel loyalty programs contributed over 50% of room nights sold. - Loyalty point redemption revenues increased 11% y/y - Loyalty members per room increased 6.4% y/y And all for less than a cup-of-coffee-PAR, exact figure in the report. In most cases, is "to brand or not to brand" even a question? Leave your thoughts in the comments below. Christine Bang, Robert Mandelbaum, Cole Mortland, Jennifer Bainger, Erin Mulvania, Darice Fichter Rose, Tommy Crozier, Marriott International, Hilton, Hyatt Hotels Corporation, Accor, IHG Hotels & Resorts, Choice Hotels International, Wyndham Hotels & Resorts, CBRE, CBRE México, CBRE Valuation and Advisory, CBRE Hotels, #cbrehotelsresearch, ILHA East Coast Chapter, USA, International Luxury Hotel Association
Hotel Loyalty Programs: Betting on the Law of Large Numbers
cbre.com
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https://lnkd.in/gH4HSfXX Today’s leading hoteliers are adding a more comprehensive analytics metric into their performance assessments: Revenue Per Available Guest (RevPAG) #PMS #Hospitalitytechnology #hotels #RevPAG
Measuring hotel metrics beyond RevPAR with RevPAG
https://www.traveldailymedia.com
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"Bifurcation across the hotel industry continued in July, with demand growth in the economy segment trending down year to date while the upscale and upper-upscale segments performed well compared to the national average." #dshhoteladvisors #hotelindustry #hospitality #hotelperformance #hotels #hotelbusiness https://lnkd.in/ebvgUn8D
July Hotel Performance Shows Meager Year-Over-Year Gains
costar.com
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First-quarter U.S. hotel performance can be volatile, but analysts say it’s important to remember all the factors at play that create waves in the first place. Read on. #hospitality #hotels
What March US Hotel Performance Data Didn't Tell You
costar.com
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https://buff.ly/3RrnyOT Beyond Room Rates: A New Era with Attribute Based Selling #hotels #hoteliers #hotelrevenue #roomrates #attributebasedselling #revenuemanagement
Beyond Room Rates: A New Era with Attribute Based Selling
https://revenue-hub.com
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https://buff.ly/4eaYqVH Total Revenue Management and Role in Hotel Profitability Strategy #hotels #hoteliers #hotelrevenue #revenuemanagement #totalrevenue #totalrevenuemanagement #hotelprofit
Role of Total Revenue Management in Hotel Profitability Strategy
https://revenue-hub.com
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