The end of the year means extra focus on hotel budgeting strategies for 2018. While the end-product is an estimated financial statement for the upcoming year, the process begins with a marketing plan. Robert Mandelbaum, contributing author at Hotel Management, shares useful insights in his article, “Understand Your Local Market When Making 2018 Budget.” Research
No matter who you are, what you do, or where you live, it’s safe to say feedback is always essential.
If you’re a teacher, you need feedback regarding your methods, and whether or not they’re working.
If you’re a golfer, you need feedback to improve your game to win more often.
If you’re married, feedback is essential to keeping the marriage strong and successful.
For hoteliers, feedback is beyond important – it’s key. The purpose of the hotel is to provide a comfortable and enjoyable experience for the guest, which will then bring in revenue. If the guests are not having said comfortable and enjoyable experience, then the revenue will diminish.
Hotel guest feedback is the link between the experience and the resulting revenue. The great news is that there are ample ways to get feedback for your hotel, you just have to be willing to receive it! Here are a few of the simplest channels of feedback.
Now that 2016 is coming to a close, it’s the perfect time to reflect on our top three most popular hotel operations related blogs. If your hotel strives to perform even better in 2017, then it’s a great time to find a little motivation and guidance in one of the following blogs:
- Published in Blog
Choosing the Right Hotel Management Company is Imperative to The Success of Your Hotel. Here’s What to Consider.
Whether you have a hotel already, are in the process of acquiring one or have plans to build one in the near future, you’re going to want to everything within your power to maximize your investment, right?
Most everyone needs the services of a hotel at least once in a lifetime. For the majority of us, hotels are utilized much more regularly than that.
The point is – hotels are an integral part of our society.
Except there are a vast amount of hotels to choose from. Hotels are everywhere and one could argue that at times there are more hotels than people who need them.
What does this mean for your hotel? It means that your hotel needs to stand out to your target guest.
The elusive millennial travelers… the group every hotel wants to attract, yet only some are skilled, or lucky, enough to succeed.
Just to be sure we’re all on the same page, let’s define who the “millennial” traveler is: aka Generation Y, millennials are essentially young adults born after the early 1980s and are well-versed in technology, own anywhere from 1 – 10 “devices,” and are active on just about every social media channel.
So now we know more or less “who” the millennial travelers are, how do we, as hoteliers, attract them? What are millennial travel trends?
Though it may be more fun attracting leisure and transient travelers, group and meeting business make up a substantially larger piece of the revenue pie for hotels. Often times, group and business events make up nearly 50% of a hotel’s revenue – that’s some serious cash! Most likely you’re already well aware of the revenue percentage your hotel receives from groups and meetings, but are you equally as aware of every ancillary income opportunity? Do you have the most profitable strategies and practices in place, that will help positively impact your bottom line? As we head into the new year, it’s imperative that your entire management team has the knowledge and tools in order to hit every revenue goal throughout the year. Heed the following advice and practices, and you will be one of the profitable hotels exceed all revenue goals for 2016.
Group business represents an enormous percentage of hotel revenue, and without it, or enough of it, the bottom line severely suffers. Unfortunately, hotel’s frequently neglect marketing themselves to attract group bookings, and focus instead on the leisure travelers. All business is good business, but there’s more bang for each buck when it comes to large
Keeping up with the constant evolution of marketing, and all of its related tools can be tricky at times. Between Google constantly changing the rules of the game, shall we say, and the ever-changing social media scene, how can an organization know where to allocate resources, and where to pull back?
The Good, The Bad, and Especially – The Ugly. Why Responding to EVERY Review is Essential to Your Reputation.
Feedback, constructive criticism, or maybe just plain old criticism. Are you shuddering at the thought? If you are, stop, because though it may be hard to take sometimes, it’s essential to the success and well-being of your hotel. That’s right, criticism whether good, bad or even ugly, is a necessary tool for you and your
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