In general, branded hotels must adhere to the brand’s technology standards, but independent hotels need to keep up with technology, as well, if they are going to remain competitive. Decision-makers need to accept that almost every department on a hotel’s profit-and-loss statement is going to require some type of technology. The plan should start with
Trevor Stuart-Hill shares another Two-Minute Tip, focusing on forecasting in this video. Think about segmentation, group blocks, and your market mix to make changes to your forecasting or budget period.
As with any crisis or "shock" to the hospitality and tourism industry, there is always a period of recovery followed by stabilization. Each shock has its own set of factors that caused the disruption in the first place and therefore the recovery period can vary dramatically by region, market and even by service provider within a market.
By William Perry When hotels started reopening in early summer after being closed for several months due to COVID-19, many rural properties noticed an immediate uptick in bookings. As the summer continued, these hotels were able to implement longer-term stay restrictions with the ability to continuously increase rates due to strong demand. In fact, at
Over time, the disciplines of Revenue Management, Marketing, and Distribution have evolved with the enhancement of technology, changes in philosophical outlooks, and different business strategies. Furthermore, complicated intra-company dynamics and need for specialization have created an environment where revenue management and distribution often operate in one silo, while sales and marketing operate in another, thus
Some recent case studies demonstrate the success that can be had by rethinking these key disciplines and how they can work in tangent.Read the full article below by Trevor Stuart-Hill on Hotel News Now. READ ARTICLE
DENVER, Colorado – June 24, 2020 - In an ambitious drive to maximize revenue for current and future hospitality clients, Revenue Matters, with its unique, holistic approach to revenue management is proud to announce the merger with MPA Digital, a firm with over 30 years of CRM and loyalty marketing experience serving independent properties. “Over
By: Trevor Stuart-Hill May 19, 2020 There is no doubt that “shocks” to our industry bring about significant changes, and COVID-19 won’t be an exception. I believe that guests’ buying behavior and motivations will be very different tomorrow from what they were yesterday. So, how will OTAs fit into this new equation? And, will the
by Kristie Dickinson, CHMWarnick, Kate Burda, Kate Burda & Co, Trevor Stuart-Hill, Revenue Matters | Apr 21, 2020 An asset manager, marketer and revenue-management practitioner walk into a bar (6 feet apart, of course). While this may sound like the beginning of a joke, what we are all facing in the hospitality industry at the
By Trevor Stuart-Hill President & Founder, Revenue Matters & Will Perry Director of Revenue Strategies | April 6, 2020 Summary of Current Situation The World Health Organization (WHO) issued the first situation report on January 21, 2020, noting 282 reported cases with 3 deaths. 91.5% of these cases were found in the Hubei Province in