Hospitality Industry
-
Is hospitality a lousy employer?
*Trigger warning - this post contains potentially upsetting content*Is hospitality a lousy employer?A colleague recently lamented that none of Thailand's top 50 employers of choice are in the hotel business (link in the description). This came as a surprise given that hospitality is one of the main industries in this tourism-driven country.There may be bias in the selection of samples, and the ownership and business structure of a hotel corporation may make it difficult to think of it as a single major employer. Still, there are systemic and historical problems with the hospitality industry that may make one hesitant to recommend hotels as good places to work. Here are the key…
-
The top pitfalls that hotels must avoid in 2023
Everyone I speak with is upbeat about the coming year. This year may be the closest to normalcy since the pandemic. It is easy to get carried away or feel laid-back. Here are some things hotels should be aware of:Revenue versus budget: As the year progresses, demand may be higher than anticipated. It may be lower in rare cases. The benchmark should be market performance, not budget. RGI is the best option.Over-reliance on social media: Just because you have complete control over what you post on this channel does not mean it is the most effective. There are ads galore, and their reach is shrinking as personal content is prioritized.…
-
What are the most important review sites for hotels?
For hoteliers, TripAdvisor and OTA reviews have always had a higher mind share. According to ReviewPro, TripAdvisor’s 2022 share of reviews hovers around the 10% mark. Close to 73% of all hotel reviews come from Google and Booking. Let us zoom out a bit because the review ecosystem is much larger than just hotels. According to a recent Reviewtrackers report (link in the comments section), 88% of business reviews (not just hotel reviews) are found on just four websites.Google (73%).Yelp - 6%Facebook - 3%TripAdvisor - 3%👉🏼 Thanks to Android phones and Google Maps, Google can prompt users to write reviews based on the locations they visit.👉🏼 It is part of a…
-
Top ten questions to ask your OTA market manager
Most hotel team members meet or call their OTA market managers on a regular basis. It is important to keep them on their toes in order to maximize the revenue potential for your property.👉🏼 Can you influence my ranking and how much does it matter?👉🏼 Will the promotion or discount generate incremental revenue?👉🏼 How can I raise volume while keeping the average distribution cost per booking stable?👉🏼 How can I increase or maintain my market share?👉🏼 Will the increased advertising add to my existing commission or margin (distribution) costs?👉🏼 What can I do to reduce unilateral discounts, vouchers, and point-of-sale offers?👉🏼 What am I doing wrong in comparison to my…
-
Don't post anything until you've answered these questions
Most hotels and businesses are preoccupied with what they want to sell and say. They scarcely pause to ask, "Is this what the customer wants?" If you do not answer the following questions before posting any content, you are doing it incorrectly. (website, social media, a blog, email, advertising, and a press release) What issues or pain points are you addressing for your guests? How does it express your brand and unique selling points? Do you address them as individuals? What would you think of the material if you were the guest? What do you want the visitor to do after viewing the content? The more questions you can confidently…
-
Steal this Hotel Marketing Content Framework
Everyone knows how important it is to have the right content for the right guest at the right time. However, most hotels struggle with content and advertising strategies. I hope this helps hotels be a little more strategic about what they put out there. I should add that this should be a source of inspiration. Make it your own by customizing it.What are your content difficulties for social media, advertising, your website, and your blog?
-
What Characteristics do the Best Social Media Managers Share?
Social media is a very important way to get the brand's message out, connect with guests, and make sales. My team was in charge of setting the strategy and guidelines and hiring social media talent at the property level. Here's what the great ones do.
-
Digital Marketing Managers are from Venus, and Revenue Managers from Mars
Here is a cheat sheet for digital marketing managers. If you want to know what your revenue manager means, this is it. Rate hurdle Minimum order value Group ceiling Maximum order quantity (specific product) Average daily rate (ADR) Average order value Average length of stay (ALOS) Average quantity Segments Sell channel categories Revenue per available room (RevPAR) Average revenue (per store) Total revenue per available room (TrevPAR) Total revenue per (available store) Gross operating profit per available room (GOP PAR) Gross profit per (available store) Net revenue per available room (NRevPAR) Net profit per (available store) Revenue generation index (RGI) Market (click) share Market penetration index (MPI) Market share ranking …
-
Revenue Managers are from Mars, and Digital Marketing Managers from Venus
Here is a cheat sheet for revenue managers. This is what your digital marketing team or agency means when they talk. Prospecting 🟰 Demand generationImpressions 🟰 InfluencingWebsite visits 🟰 Direct guests (potential)Engagement 🟰 Tentative (guests)Bounce rate 🟰 WashBooking funnel 🟰 Sales process (online)Conversion rate 🟰 Pricing effectivenessConversion window 🟰 Lead timeCPA (Cost per acquisition) 🟰 Distribution costGeotargeting 🟰 POS (Point of Sale)One way to learn something new is to find a way to link it to something you already know.What would you like to add to this list?
-
Five hotel jobs (mostly commercial) that will disappear in the next five years
⭕ (Director/Manager) Sales/Sales & MarketingWhy: Because the majority of business has moved online. Traditional DOS/Ms can only contribute 10-20% of (offline) business.Indicators: Rather than DOS/Ms, more hotels are hiring well-rounded commercial leaders.The way forward is to expand into the dynamic rate world, managing OTAs and bed banks while also bringing revenue management skills to the table. Alternately, specialize in MICE, corporate, series, and group business.⭕ Revenue ManagementWhy: Revenue management systems are becoming more sophisticated and affordable. AI will even be able to address shocks caused by rapid trends or strategy changes.Indicators: Global brands no longer employ this position at the property level. Clusters are also being used by more properties.…
