Have you begun your Spring cleaning? As nature blooms, we take the opportunity to weed out all of the aspects of our lives that have become unusable, providing more room for growth. Ideally, we welcome change, whether big or small, and develop an open perspective on what's to come.
Below are some articles and resources on trending topics in the hotel industry:
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New Accounting Standards Call Attention to OTA Revenue
By Cindy Braak and Raymond Martz, Hotel News Now
Starting on 1 January 2018, there will be several changes to the accounting and financial reporting standards that will impact the hotel industry. Owners and operators need to prepare now to ensure these accounting changes don’t negatively impact their bottom lines.
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Outlook: Hospitality Poised for Growth in Bookings in 2018
By Gregg Wallis, Hotel Business
The hotel sector is projected to sustain 5-6% growth throughout 2018, setting up the industry to hit a record-breaking $170 billion in gross bookings, according to the “Deloitte 2018 Travel and Hospitality Industry Outlook.”
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F&B Credit and No One Comes into My Room? Sold
By Bryan Wroten, Hotel News Now
More and more hotel companies are starting to do something I wish could have become more widespread years ago: allowing guests to decline daily housekeeping in exchange for different perks.
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Finland, Norway and the aurora borealis! Having been brought up in Canada, you would have thought that I have seen the northern lights, or aurora borealis, more than once in my lifetime, but that simply wasn’t the case. On a recent trip to Lapland, we traveled from Finland to the northern most region of Norway, specifically to see the “lights.” We weren’t disappointed!
Electrically charged particles are discharged from the sun and travel at high speed in all directions. That solar radiation is drawn into the upper reaches of earth’s atmosphere by its magnetic poles and collides with gasses such as nitrogen and oxygen—causing incredible displays of color and form…like curtains of dancing light.
Of course, on that trip we also had a chance to witness fine hospitality. While accommodations were sometimes rustic (but always very clean) and there were some language barriers (in Finnish, hyvää päivää means “hi,” for example), everyone we encountered was polite, accommodating and genuinely happy to see us. Given the chance, I’d go back in a heartbeat. This experience helped me realize that hospitality, just like good leadership, is really about how we make others feel.
Photo credit: Glass Igloos at Kakslauttanen Arctic Resort
www.kakslauttanen.fi
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Introducing Joseph Purtill, Director of Revenue Strategies
Joseph brings with him a comprehensive blend of revenue management and operations experience to the Revenue Matters team. Prior to joining our team, Joseph managed a portfolio of hotels as a Multi-Property Revenue Manager with Wyndham Hotel Group, where he took a well-balanced approach to driving RevPAR index for his clients. Throughout his career, Joseph has worked at various properties ranging from the economy segment through 4-star luxury boutiques, perfecting the art of customer satisfaction. His calm and rational thinking combined with innovative ideas, and influential leadership make him a valuable contributor to our clients' revenue performance objectives.
Since becoming a member of the Revenue Matters team, Joseph has learned to incorporate the influence of strategic branding into revenue strategy to create optimal results for production. He is a new member of Boston’s HSMAI chapter, helping to grow the Revenue Management discipline within the industry and perfect the art of revenue management. And, he continues to help to empower guest loyalty through innovative experiences enabled from creative packages, promotions, and incredible teams that bring the experiences to life.
What you may not know, but would love to find out:
- Joseph's favorite pastime is cooking different style cuisines. He finds it very exciting to learn!
- The best place Joseph has ever been to is Villefranche, France. The food is amazing and it is so tranquil there.
- A night out on the town with Joseph always includes a late night snack. It is the best part aside from friends.
- The best concert Joseph has ever rocked out at is Coldplay, A Head Full of Dreams Tour.
- If Joseph could choose any superpower he wanted, it would be time travel. He has so many questions about what happened and what is going to happen!
- Joseph never leaves home without his phone, he has to track his steps for the #fitbitchallenge.
- Joseph expects nothing less than the best in everything he does, making him the perfect person to have on your side.
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In-Depth Property Review
Professional athletes rely on coaches and specialists to help them perform at peak levels. Smart revenue management practitioners do the same. Revenue Matters offers a valuable service that quickly gets to the heart of any impediments to optimal revenue performance—an in-depth property review. Equally important, this review validates for management and ownership what is working well at the property.
We follow a comprehensive agenda that takes into account all aspects of the revenue management function. We then deliver both a broad overview of key opportunities along with a very specific course of action designed to positively impact revenue performance for your property.
Give yourself a competitive edge!
Call 303.690.9116 or email us at info@revenuematters.com for more information. |
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Fitness Challenge 2018
March marked the beginning of the Revenue Matters Annual Fitness Challenge, designed to not only improve the health of our employees, but to also implement a creative way to provide donations to our sponsored charity ~ Feeding America. So far, we have collectively walked over 2,700 miles, bringing our donation total up to over $700 in contributions!
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The Hotels Network - Complimentary Trial
The Hotel Network provides the tools and software needed to better convert direct bookings on your website. Targeting the right audience with the message that relates best to them is a key component to The Hotel Network's success. Also included are the only customizable price compare tool in the marketplace, and real (positive) consumer reviews which, combined, reassure guests they’re booking the right hotel, at the best price available. Hotels have full access to a self-serve campaign platform as well as a 24-7 tracking dashboard which also reports on disparities with OTAs. Monthly enrollment is affordable, and The Hotels Network is currently offering a complimentary 30-day trial where they will show a lift in conversion rates immediately (usually up to 15% - 40%).
To find out more, ask your director of revenue strategy or go to:
www.thehotelsnetwork.com.
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Do you know how Revenue Matters can help build your revenue?
Watch this quick 2-minute video to learn more! |
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