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Showing posts from April, 2019

5 KEY COMPONENTS TO AN EFFECTIVE REVENUE & PROFIT STRATEGY- Hospitality Minds

Looking to increase revenue in 2019? Get in line. The desire to generate more revenue is nothing new to hoteliers, but the journey toward higher revenues and greater profitability requires hotels to take a more holistic approach; one that implements technology that leverages data from disparate sources to develop actionable intelligence to help stimulate and optimize demand. Let’s take a closer look at five important areas of focus for your revenue journey.

Channel Segmentation Your distribution channels – online, off-line, direct, and indirect – should be segmented and analyzed by guest type and acquisition cost. This lets you to determine where your most valuable mix of bookings and revenue is coming from. With OTAs charging hefty commissions, sometimes as, high as 30 % you want a distribution strategy that drives as much direct business as possible. It’s important to regularly review your channel mix to ensure that it’s profitable and aligned with your property goals.
Optimal Business…

HOW TO GROW HOTEL BUSINESS - Hospitality Minds

Everyone is planning to grow their hotel business but there are many obstacles to grow business in hospitality industry. And this time, we've got just the right tips for you to have your way around the industry.  The hospitality industry is the one which is ever evolving; being at the forefront in comparison with other hotels. Every other day, you will find new competitors and new challenges to grow you business and make your hotel good in comparison with your competitors.   All you need to do is start with new ideas to grow your business. Here are top 5 tips to grow your hotel business.

1.  Work on Online Travel Agents (OTAs) strategies OTAs plays very important role in growing your hotel business online. Every hotelier should build connections with at least 2-3 OTAs for managing hotel business efficiently.  An appropriate hotel description, listing out your amenities and posting clear and relevant images of your hotel will keep you in the forefront and make you visible to others …