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Actual Human Beings Now Booking Travel
How do you explain a 10% bump in leisure and business travel booked through traditional agencies that are staffed by real people? Two reasons: 1. Emerging from the wreckage of the global recession, the...
View ArticleThe Best Way to Handle Variable Pricing?
Broadway-style. In hospitality, a huge part of successfully managing revenue lies in striking that perfect balance between price, inventory/availability, demand–and, of course, anticipating buying...
View ArticleThe Billboard Effect
by Chris Anderson http://youtu.be/GNs17hjUx54 In this interview with VTV, I discuss the results of a research study called “The Billboard Effect”, conducted in partnership with JHM Hotels and Expedia....
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The Pricing Power of User Reviews
A cool article and interview by Patrick Mayock at HotelNewsNow.com on how online reviews and ratings can influence pricing and yield strategies. “Users are communicating with lots of social content,...
View ArticleEmerging, Evolving Channels Are Where It’s At Right Now
by Chris Anderson HotelNewsNow’s Stephanie Wharton interviewed me for this piece on emerging channels. A few highlights: As of May, New York has seen a $33 increase in ADR, while Dallas and Atlanta...
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Recapping the Effect of Online Reputation on Revenue
re-posted via the Revinate blog. Last week, Revinate and eCornell co-hosted a webinar that outlined five ways hotels can improve their online reputation. By measuring their reputation management...
View ArticleIncrease Your Brand Site Bookings with The Billboard Effect
When it comes to online distribution, hotels typically prefer to sell rooms through their own websites. Third-party sites, particularly those of online travel agents (OTAs), tend to be seen as...
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How Staff Efforts at the Property Level Can Increase Your Website Performance
All hoteliers would like to see an increase in the amount of revenue contributed from their website. After all, direct bookings are the most profitable. Here are some quick, easy and fun ways to get...
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The Crystal Clear Benefit of an Opaque Selling Strategy
Opaque online travel agents, which we call opaque OTAs, have recently become an integral part of many hotel properties’ distribution strategy. To clear excess inventory, hotels sell rooms at reduced...
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100% Occupancy? Let’s See If You Can Achieve It
Price and duration, or length of stay, are the two fundamental levers for revenue management. Successfully striking a balance between the two by managing length of stay is how you get your hotel closer...
View ArticleThe Dos and Don’ts of Length of Stay
How far in advance can you predict demand for your hotel? In hotel management, we continually stress the importance of creating demand, rather than simply responding to it. How to do it? Well, proper...
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Revenue Management Strategy: Demand-Control Charts
No matter what size hotel you work in, all successful revenue management strategies are based on the ability to forecast demand accurately and, therefore, predict the optimal rate based on that demand....
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Demand Management: A Deep-Dive
Success in the hotel business hinges on getting demand management right. It’s a key driver in hotel operations, revenue optimization and overall customer experience. Today we give you an entire...
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The Cheapest and Best Approach to Overbooking
This week’s theme on the Hospitality Blog is overbooking. Here’s an exercise taken directly from my eCornell course Overbooking Practices in Hotel Revenue Management. The overbooking-ratio method is a...
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Customer Engagement Touchpoints
This week’s theme on the Hospitality Blog is customer engagement. Here is a section taken directly from my eCornell course Hospitality Demand Management with New Media Marketing. Using the customer...
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Revenue Management: The Parking Lot Dilemma
You can think of revenue management as analogous to parking your car on a very busy shopping day. In the U.S. a day called “Black Friday” is the busiest shopping day of the year, with millions of...
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Upgrades and Upsells: What’s Your Strategy?
We recently had the opportunity to ask Dr. Chris Anderson, associate professor at Cornell’s School of Hotel Administration for his perspective on upgrades and upsells as part of a revenue management...
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Price Positioning Strategies
The Internet has dramatically changed hospitality pricing. Its speed and transparency have removed most barriers between customers and suppliers. With OTAs like Hotwire, Orbitz, and Hotels.com, you no...
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[webinar] Optimize Your Revenue with Online Travel Planning
Did you know that the average traveler visits over 20 websites before they make a booking? How do top digital marketing initiatives like the website (desktop, mobile, tablet), paid search, email...
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The Influence Of Reputation Analytics On Hotel Revenue and Financial...
In his landmark study comparing Global Review IndexTM (GRI) scores with ADR, occupancy and RevPAR performance, Cornell’s Chris Anderson proved what intuition told every savvy revenue manager: A hotel’s...
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