We have some truly great reads for you this week!
Making revenue as a hotel is a complicated undertaking. Back in the day, revenue management meant opening and closing availability and rates. When Online Travel Agents entered the scene, the industry became obsessed with simple adjustments of rates. Today, the playing field is drastically more complex. In our first read we present you five common mistakes that you should avoid. The clock is ticking towards GDPR. Have you already worked out what this means for your hotel or hospitality business? Read number two explains where to pay attention. Have you wondered why you recently saw some flight-plus-hotel feature or car rental and hotel transfer add on on Booking.com website? In case you didn´t know, Booking.com is on the road to becoming a full service online travel agency. Read number three outlines their plan.
Happy reading.
Patrick Landmann has been in the hotel revenue management game for more than 2 decades now and after all these years he still gets anxious to see hotels not performing at their full potential; So he have put together a list of 5 common mistakes made in revenue management in hotels, resorts and hostels.
Although the GDPR applies to any organization or business collecting data on EU citizens, the nature of hotels and the various data holding sources such as OTA bookings and PMS systems escalate the regulation for travel and hospitality industries.
In recent months, it has been experimenting with adding flight-hotel packages, airport taxis, and other services. It is also exploring a revamp of its loyalty program. An expansion would carry risks. Booking.com’s focus on accommodation has partly enabled it to be more profitable and have a more efficient marketing spend than Expedia Inc., the rival online travel conglomerate. Here’s a look at a handful of Booking.com tests and moves.
