Looking for the best hospitality articles to read?
Well, then you have come to the right place…
We have compiled a list of our most-read hotel revenue management consulting articles that will ensure you are fully up-to-date with the latest insights, tips, and best hospitality practices.
Here is our list:
Most Popular & Trending Hospitality Insights
1. Top Hospitality & Hotel Trends in 2024
What a better way to start off with our top list than with our Top Hospitality & Hotel Trends in 2024.
In this article we will be covering everything from shifts in consumer behaviour and expectations to hotel concept trends, bringing you up to speed on the latest hotel developments and hospitality trends.
2. 20+ Revenue Management Tips on How to Increase Hotel Income & Profit
In this article we focus on a key development in Revenue Management: Total Revenue Management.
We discuss key methods of improving a hotel’s bottom line by looking at all business areas, including marketing, sales and even concept development.
With a collection of 20 of our most valuable insider tips, we explain how you can create an outstanding platform to maximize your hotel’s revenue.
3. How To Increase Hotel Revenue in Low Season
We discuss how periods of low demand can be tackled by adopting a proactive stance and implementing a series of tried-and-tested tactics, to make your hotel business blossom again. Read on to discover our five best practice steps to attract guests and increase hotel revenue during a low occupancy phase at any time of the year.
4. Revenue Management in a Crisis or Economic Downturn
This article is all about being in full guerrilla warfare mode.
Competition is tough, prices have dropped and you are battling competitors for each and every room. Scraping rooms is the mindset that sets apart the real fighters…
These tips should help you navigate through this crisis.
5. How to Forecast Hotel Revenue with Optimized Precision
With reservation lead time changing in key markets we operate in, it is becoming more challenging to forecast accurately.
We discuss how to critically reflect on the achieved results that can take place, and if any potential optimization can be achieved in the future by adjusting strategy.
Our Essentials – Hotel Management Fundamentals
This short list consists of essential insights for anyone looking to open a new hotel business or improve their hotel’s performance.
6. Hotel Business Plan
OK, so you have decided to realize your dream and open your own hotel. You have thought out an amazing concept delivering unparalleled guest service.
The next step would be to write a hotel business plan. It’s like a road map to the opening. However, as a seasoned Hotel Management Company, we have seen that this is where most entrepreneurs get stuck.
We discuss every step necessary to create a great hotel business plan and the challenges you might face.
7. How to Read your Hotel Profit & Loss Statement or PnL
We can tell you how important it is to control every detail of your business’s finances, both on the revenue and cost side.
Hotel Management isn’t merely about strategy. There are many layers, each of which require your undivided attention.
To accomplish this step and provide the best platform from which your hotel will succeed, the key is to prepare and execute a carefully structured profit and loss statement.
In this article we review a Hotel P&L sample based on the Uniform System of Accounts for the Lodging Industry (USALI), a rich resource that provides numerous key insights for hotel managers.
8. How to Start a Hotel Business
For many people, starting their own boutique hotel or luxury bed and breakfast is like a dream.
Most are drawn by the charm of hospitality and see it as a chance to start a new beginning. But opening a hotel business , just like any new company, is more difficult than it might seem at first sight.
We discuss every critical step to open your own hotel and highlight challenges you might face.
A great read as well for anyone looking to re-evaluate their hotel performance and optimize for better results.
9. Hotel Market Segmentation
A thorough rundown of all the aspects of hotel market segmentation.
An essential component needed to apply a hotel revenue management is market segmentation.
It allows you to target and market to a variety of consumer groups with different behaviour with an offer that matches their needs and budget level.
10. Hotel Feasibility Study
What is a hotel feasibility study and do you need one?
In this article we look at the steps involved in carrying out an effective hotel feasibility study.
We have also seen how many would-be hoteliers simply assume that their vision will succeed, without conducting any notable research on building a hotel business that will be consistently profitable and competitive.
Make sure to also check out more from our FREE knowledge base:
Hope you enjoyed reading and learning from our content and, as always, stay tuned for more hotel management tips and insights!
Cheers,
Patrick Landman
PS If you need help with your hotel, click here: Hotel Revenue Management Consulting
