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So Many Conferenes, So Little Time
Seminars, conferences, and vendor briefings are back. After almost three years, it is as if the floodgates have opened. I grapple with the question of attending them or allowing team members to do so. I tend to be ruthlessly picky about the conferences that I attend and the speaking engagements I accept. The general rule of thumb is that the benefits of attending should outweigh the immediate demands of my daily work. These are the decision-making strategies that work for me. Why should I attend? Will I gain any new knowledge? Is it currently pertinent? Which of my present initiatives, plans, or activities will benefit from the event? Are the attendees and speakers worth…
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The Low-Hanging Fruits: Is your hotel using these tactics to generate more revenue?
The majority of hotels in Asia are pleased with the resurgence of business. Given the scarcity of demand over the past two years, hotels are grateful for any business, regardless of the costs involved. This is a fantastic opportunity for numerous middlemen to seize control of the marketing and distribution. Chronic under-investment in technology and marketing even before the global pandemic exacerbated the situation. Now, post-COVID, most hotels do not appear to be in a hurry to change this status quo. A smart hotelier would focus on increasing the investment in new digital technologies that guests now expect. From web experience technology (website), content hub, CRM, CDP, marketing automation, a…
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Are We Still Talking about Rate Parity in 2022?
The Landscape The rate parity situation seems to be worse than before. The technology allows for IP-based or user behaviour-based pricing. An enormous amount of data, pressure to convert and competition mean a lot of coupons and unilateral discounting. Many OTAs have turned into marketplaces where rates can be sourced from third parties. Demand is shifting so quickly that most hotels are finding it difficult to balance online vs offline and short-term vs long-term rates. New players like Lazada, Shoppee, Megatix, Line and Hungryhub selling vouchers have further muddied the waters. Implications The properties serious about rate parity are playing a game of ‘Whack a Mole’. Price anchoring at a lower point adds to the downward pressure. Direct strategy and…
