Guest Post - 10 Minutes News for Hoteliers - Page 2

6 min

Guest Post: RMS vs Revenue Managers… Who…

🏨 Revenue Management Systems (RMS) automate hotel pricing in real-time, based on data, to ensure competitive rates. RMS analyzes data 24/7, forecasts demand, segments customers, and updates rates across channels. Revenue Managers strategize pricing, analyze data manually, and align pricing with hotel goals. A duel between RMS and Revenue Managers ends in a tie with a score of RMS = 2 / Revenue Manager = 2. Collaboration between both ensures strategic and tactical revenue maximization, leveraging RMS for data processing and managers for strategic decisions.

1 min

Guest Post: Amazon Prime Day success…

💰 Mike Putman, CEO of CTS, credits the success of the e-commerce subscription economy to its global strength, as seen with Amazon Prime Day. The travel industry is adopting similar models, offering monthly or annual subscriptions for services or discounts. CTS's report, "The Age of Travel Subscription," provides eight steps for success in this realm, emphasizing business discipline, value, low acquisition cost, recurring income, market resilience, tailored benefits, customer service, and data retention. With the travel subscription economy's initial phase ending, timely action is crucial for market players.

6 min

Guest Post: A step-by-step guide to…

🏨 Hospitality businesses set short- and long-term goals focusing on key metrics such as Revenue per Available Room (RevPAR), occupancy, and average daily rate (ADR). Utilizing property management system (PMS) reports, hoteliers analyze historical data and booking behaviors to fine-tune distribution and pricing strategies. Regular tracking of occupancy, ADR, and RevPAR, while comparing with market performance, aids in adjusting rates. Implementing a revenue management system (RMS) automates tracking and updating pricing, suitable for properties of all sizes. Reviews and value-for-money scores on OTA sites also influence pricing decisions. Pricing strategies should be reevaluated 3-4 times a month or more, depending on property size and market competition.

3 min

Guest Post: Time to rethink loyalty and…

✈ Loyalty program participation among travelers dropped from 66% in 2019 to 52% in 2023, according to Airport Dimensions research. Travel brands are being urged to evolve their loyalty strategies, leveraging AI, data analytics, and mobile integration to offer personalized and seamless experiences that resonate with the modern, connected traveler's lifestyle. The focus is on cultivating long-term loyalty through personalized experiences and advanced technology, ensuring relevance and responsiveness to travelers' evolving needs.

3 min

Guest Post: How tourism brands can attract…

🏖 Global anti-tourism protests are highlighting the unsustainable pressure tourism puts on local services and housing in places like Barcelona and Dubrovnik. Solutions include promoting off-peak travel, with 62% of adults planning to holiday outside peak seasons in 2024, up from 2023. Visit Idaho's '18 Summers' campaign has seen double-digit annual tax collection increases and a 38.6% rise in overnight arrivals. Effective tourism marketing necessitates culturally relevant, precisely executed global brand platforms and agile digital and social media strategies, as 58% of travelers use social media for travel research.

2 min

Guest Post: Why tour and activity companies…

🏀 Sports tourism is a rising trend, prompting tour and activity companies to adapt with new strategies. To leverage this, companies are advised to diversify activities, comply with local regulations, ensure operational flexibility, and utilize technology for enhanced experiences. By doing so, providers can improve satisfaction and inclusivity for sports tourists, potentially leading to increased success.

4 min

Guest Post: Normal service has resumed and…

🚢 In the early days of e-commerce, the cruise industry faced challenges in integrating online and offline booking processes. Twenty years ago, the author leveraged their graphic design and tech skills to automate cruise selling, optimizing staffing for Cruise411.rt. Today, technology allows any travel agent globally to sell cruises by normalizing content across cruise lines, enabling consistent customer experiences online and in-store. Direct bookings are encouraged by cruise lines, yet agent participation remains crucial. The cruise sector has bounced back post-pandemic, with 2023 surpassing 2019 and further growth expected in 2024. Emerging markets like the Philippines and Indonesia are now significant players, with demands for regulatory compliance across geographies being met through process normalization.

2 min

Guest Post: Hotels playing data catchup…

🏨 Marriott utilizes natural search effectively with AI in hospitality. The industry struggles with data quality and privacy issues, essential for AI success. Transparency in data practices is crucial for consumer trust. The AI integration debate focuses on efficiency versus maintaining human interaction. Knowledge grows on AI as a team member, not a replacement—concerns for AI in luxury spaces due to service expectations. The travel industry faces a critical period for AI's role in enhancing or detracting from hospitality and travel experiences.

3 min

Guest Post: Pilotless problems – The impact…

🛫 In the travel industry, human-driven internet traffic accounts for 51.1%, while malicious bots constitute 44.5%. Bot traffic has increased from 37% to 44% in the past year, negatively affecting airlines by engaging in unauthorized scraping, seat spinning, loyalty program account takeovers, and credit card fraud. To combat these threats, the industry must implement multi-layered defenses, including advanced bot management, continuous monitoring, public and private API security, collaboration for collective security, and customer education on bot risks.

4 min

Guest Post: Beyond first class

🏖️ Post-pandemic, travel demand surged, with a significant increase in luxury travel budgets. Industry research indicates a continuous rise in luxury travel interest. Tara from Resfeber Travel, Inc. highlights a trend for personalized and unique experiences. Luxury travel is defined by an acute attention to detail and unparalleled service, with the expectation of having every whim catered to. A Phocuswright survey found that 55% of travel agents' clients are affluent, seeking bespoke services. Travel agents play a crucial role, with 85% of luxury travelers preferring agents for personalized bookings. Their expertise and connections are vital for planning and support, offering access to exclusive experiences beyond the scope of average travelers.

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