This is the third year that we have updated this subject and it has never been more urgent than this year! Despite the general downward trends in the overall economy there is one factor that will have a profound impact on the hotel industry in particular and the hospitality industry in general – the cuts
Fuel rebates and green issues are consumer hits A June 2008 Prospectiv survey revealed that online travelers could be enticed to spend more on travel if offered promotions, such as rebates on gas expenses. In response, many hotels have been giving out gas rebate cards at higher amounts than ever before-$50, $100 or even $200
The number of travelers booking online is down. What’s up? This year US travel sales booked online will reach $105 billion, up 12% from 2007. eMarketer forecasts that US online leisure and unmanaged business travel sales (including airline, hotel, rental car, vacation package, intercity rail and cruise) will reach $105 billion. Furthermore, from 2007 to
An Action Plan for Monitoring and Responding to Internet Chatter about Your Hotel Hoteliers often ask HeBS how they can monitor the Internet chatter surrounding their hotels and whether or not they should pay for services that offer this type of monitoring. What hotel review websites should you monitor? How often should you check
Regardless of whether RevPAR and bottom-line profits are trending upwards or downwards in your hotel’s market, there’s no better time than the precious present to make profit optimization everyone’s job. Unfortunately too many hotels still think of profit optimization as being primarily the job function of a revenue manager, versus a process that virtually every
Travel bookings are no longer the whole story as advertising and referral-based business models gain ground. Just over half of the top 200 travel Web sites in February 2008 were booking sites. The remaining were referral and media sites, which attract travel shoppers with expert and traveler-generated reviews, metasearch capabilities, and maps of travel destinations.
In today’s economy, one has to be careful about how to spend their money wisely, and this is especially true in the hotel industry. Hoteliers invest their money in marketing to bring in more guests, but in a tough economy, business slows down. So how is it possible for us to thrive, despite slow business?
Key markets, world wide have experience unprecedented occupancies, average rates, and RevPAR for over a decade. New York City and London in particular have experienced average occupancies well over 80% for the past several years, driving record average rates and RevPARs. The immediate outlook remains promising but the future is less bright according to prominent
This topic may not rate high on the ‘sexiness’ meter in a period where hotels are frantically seeking new strategies to generate demand but managers and owners will love it as it gives them information they need to evaluate sales strategies! It is imperative that we focus on new strategies based upon changing habits in
Inaugural Survey by Orbitz and Business Traveler Magazine Concludes Business Travelers Changing Behaviors in Current Economy – 68% Now Staying at Less Expensive Hotels, 79% feeling pressure to cut travel expenditures CHICAGO, June 10 /PRNewswire/ — With a lagging economy causing many travelers to change their ways, more than two-thirds (68%) of those surveyed this
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