TOP NEWS

🔔 Gianni Di Fede, Senior Vice President at Radisson Hotel Group since 2017, aimed to enhance revenue operations. Radisson has structured global revenue management that extends from global to local levels. The Revenue Club, with technology partner Duetto, held its first post-pandemic meeting in Gran Canaria in June. Radisson's Corporate Support Office comprises teams for revenue management, distribution, and business intelligence, with specialized units like rate loading, five-year planning, and revenue operations. Madri, St Petersburg, and Dubai serve as Global Centres of Excellence for their respective regions. EMMA, Radisson's technology platform, integrates core functions and utilizes Duetto. Cluster operations help manage revenue in multi-hotel cities by applying unified strategies, while local input involves flexibility and empowerment at the hotel level.

📦 Restaurants must meet customer expectations with efficient ordering systems across online, mobile, and phone channels. In-house delivery control ensures quality and standards are met, while statistical data shows that 67% of consumers avoid third-party apps due to fees, 23% desire better delivery tracking, and 51% are influenced by coupons and promotions. Investing in technology like advanced POS systems and integrated online ordering can maximize profits, reduce errors, and increase customer loyalty.

🏨 Ashley Dora, VP of operations at Valor Hospitality, identifies opportunities for automating hotel operations, especially in food and beverage departments, to save time and costs. Implementation is property dependent, with ROI varying based on time saved in communication and processes. Richard Valtr, founder of Mews, advises defining clear goals and integrating modern technology, while Adam Tuttle of Yipy emphasizes the importance of user-friendly platforms and upfront work to simplify staff usage. Beta testing and anticipating learning curves are crucial for successful implementation. According to an IDC analysis, Mews’ technology saved 5,000 administrative hours and increased front-desk staff efficiency by 24% in the summer, equal to the workload of around 12 full-time employees.

🍕 Hoteliers, including Steve Palmer of The Indigo Road Hospitality Group with 35 restaurants, are reimagining the traditional food and beverage model to boost profitability. Palmer's hotel restaurants aim to resonate with the local community and have managed to generate 50% of the revenue in four hotels. Guy Reinbold from Meyer Jabara emphasizes profitability through banquet catering which offers the highest return. Jack Paul of Twenty Four Seven Hotels adopts a "beverage forward" model for higher ROI. To reduce labor costs and waste, executive chefs like Ysaac Ramirez of Drift Hotels utilize cross-utilization of ingredients and serve smaller portion sizes. Menu engineering and technology play roles in cost management, with software like Margin Edge assisting in controlling expenses. Hospitality leaders suggest flexible staffing approaches, like employing part-time students and cross-training employees, to adjust to fluctuating occupancy and F&B demands.

💸 Independent hotels grapple with OTA dependency versus direct bookings for revenue maximization. OTAs like Booking.com, Expedia, and Airbnb charge commissions of 15-30%, yet offer increased visibility, marketing clout, and trust. Direct bookings ensure higher profit margins, data ownership, and guest loyalty but require marketing investment and have limited reach. Strategies include enhancing direct booking channels, offering exclusive benefits for direct bookings, leveraging guest data, using OTAs strategically, targeted marketing, and a rate parity strategy. Balancing both channels is crucial for sustainable growth and reducing OTA reliance.

🏖️ The global market for travel experiences is valued over $1 trillion, with destination visitors spending approximately $1.1 to $1.3 trillion on experiences, representing about 30% of the market. Paid, structured tourist activities total $250 to $310 billion annually, growing more than 14% per year by 2025. Despite this, nearly half (47%) of experience bookings still occur offline. A McKinsey survey highlighted that 52% of Gen Zers splurge on experiences, contrasting with 29% of baby boomers. By June 2024, 78% of experience operators receive at least half of their bookings through platforms. However, challenges persist, including the frustration of over 47% of the experience bookings still not being digitized.

🏠 Dusit Hotels, part of Dusit International, to open Devarana Sakleshpur, Karnataka – A Dusit Retreat in March 2028, the first Devarana hotel beyond China, with 75 luxury villas (25 with private pools) in India. Moxy, under Marriott International, launches second Florida hotel, Moxy Miami Wynwood, with 120 rooms and a 3,000-square-foot event space. U.S. hotel industry sees occupancy at 60.8% (+1.9%), ADR at $154.99 (+1.2%), and RevPAR at $94.22 (+3.1%); Tampa and New Orleans report significant increases. ME by Meliá opens ME Malta in St. Julian’s, featuring 113 rooms and 27 suites, with a rooftop bar to debut in 2025.

📊 Duetto Revenue Strategy Forum (RSF) Greece 2024 convened at One&Only Aesthesis for a half-day event, focusing on how data and technology can empower hotel revenue teams and drive growth. Dr. Aris Ikkos noted a 9.9% year-over-year increase in Greek tourism by August 2024, despite a 7% drop in average spending per visitor. AI was highlighted for its role in predicting guest behavior and optimizing pricing. The Hellenic Chamber of Hotels emphasized the urgency of digital transformation for Greek hotels to stay competitive.

🏰 Alexandra Alves Gaspar, a Glion Executive Master’s in Luxury Management and Guest Experience graduate, focused on olfactory branding in her thesis titled “What the Nose Knows: Exploring the Invisible Sense in Shaping Luxury Experiences”. Positioning scent as a key player in luxury branding, she highlights the power of smell in creating immersive brand experiences. Olfactory memories are highly retentive, with a 65% accuracy over a year, and strategic scent use can increase retail sales by 11% and customer satisfaction by 20%. Emotionally connected customers are 52% more valuable than satisfied ones. Alves Gaspar emphasizes the importance of a scent being congruent and consistent with a brand’s identity, using Eden Rock – St Barths and its collaboration with Diptyque as an exemplary case of olfactory branding.

🏄 Dr. Barbara Czyzewska recommends luxury ranch vacations in the USA to lift spirits during fall. In the 19th century, ranches became integral in America, with livestock grazing on over a quarter of US land. King Ranch in Texas is the largest at 825,000 acres, housing approximately 35,000 cattle. Paw’s Up Resort in Montana, founded by the Lipson family in 2005, offers glamping with personal butlers. Brush Creek Ranch in Wyoming spans 30,000 acres, providing all-inclusive experiences with outdoor activities and gourmet cuisine. The Ranch at Rock Creek in Montana offers an authentic working cattle ranch experience. Whiteface Lodge Resort & Spa in New York reflects luxury lodge décor and provides pampering spa treatments. These destinations offer a blend of adventure and luxury, keeping the American West spirit alive.