Nordic Revenue Forum
Leading the industry leap to the next level
The travel industry has endured a lot over the last two years. The devastating impact of the pandemic, compounded by growing regional political instability and a precarious global economic outlook, has changed the way the hospitality industry operates. For hoteliers, and their commercial teams, their work has never been more challenging.
In the middle of challenges, however, there are also opportunities. If you can spot them.
The hotel and MICE industries have been through a turbulent time, but now we’re moving in the right direction once again. Travel restrictions are finally a thing of the past in most countries. Both leisure and corporate travel are seeing a healthy pick-up in many regions – much to the delight of hoteliers and event management professionals. In order to benefit from this positive trend and to overcome some of the post covid challenges I have gathered some of my best tips and thoughts for the year to come.
If you’re not the one who promote your hotel on the web, someone else will do it… and you don’t want that to happen. Hospitality industry counts many OTAS that can promote your rooms on their platform, but with a very high-level commission for you. To maximize your revenue, you must increase your direct bookings and therefore attract people on your own website: starting with your existing customers or guests who have heard about your hotel.
Revenue Management or revenue optimization, has its roots in the airline and hotel industry, but in recent years has gained a foothold in the restaurant industry as well.
In the hotel industry, revenue management is especially visible in pricing, I remember discussing the topic with a colleague in the industry, he said that this is what we have been doing since the 70s; back then it was called Happy Hour!