Tuesday, July 17, 2018

Marketing

The top 5 myths in hotel marketing right now

Sometimes, ignorance is not bliss. In hotel marketing, having outdated assumptions or incorrect information can cost your hotels millions in lost revenue… and perhaps even cost you your job. So we’ve put together a quick list of 5 current myths we see being perpetuated in the hotel marketing world: Myth #1: OTA revenue has no cost We placed this at …

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Give guests less options, not more

Travellers today prefer simple transactions and are driven away by clutter, especially a clutter of choices. Studies show that when people are faced with too many options, they experience decision paralysis. Meaning, they delay making a decision and a purchase for days, weeks and months. Or worse, decide not to make a decision at all! Go through your own booking process and …

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OTAs hitting hotel owners where it hurts: real estate values

A new report from the AHLA has sent a ripple of concern through many hotel owners. According to the report, entitled: Demystifying the Digital Marketplace, “the revenue retained by US hotels after paying all customer acquisition costs declined by almost 0.4% or US$600 million… That US$600m in additional cost would have contributed directly to net operating income. Using an 8% capitalisation rate …

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Six things scaring the $%#@ out of hotel marketers this Halloween

For Halloween, we asked hotel marketers from coast-to-coast, representing properties of all sizes, what they’re most spooked about right now. Here is what they said: 1. Unrealistic goals on tight budgets Hotel marketers have always had notoriously full plates. Now, those plates aren’t just full – they’re stacked sky-high with multiple marketing priorities to oversee, manage and implement. This upcoming year, …

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One task every GM should do right now to increase group sales revenues

With group demand growth having levelled off or declined in most hotel markets, general managers and directors of sales are looking for ways to capture more of the market share of the business that is still out there. As I have explored many of my previous articles, the hotel sales environment has changed dramatically in recent years, yet hotel sales …

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How to ask for EVERYTHING you need to achieve your hotel’s budget goals

Hoteliers usually only think dollar amounts when working on their budget. How much will this marketing technology cost? How much should we dedicate to advertising spend? How much will our hotel website design cost? But, here’s the surprise: you are not restricted to only asking for marketing funds during budget time! If you need more marketing staff or outsourced vendors to help you achieve your …

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How guests can amplify your hotel marketing budget

There is no one we trust more than a friend or family member. According to Nielsen Media, 83% of people say they trust recommendations from family and friends over all other forms of marketing. This is the modern anti-advertising dynamic that has enabled TripAdvisor to grow into a global powerhouse; making past guest reviews critical to your property’s success. And …

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How to manage your rates over a key event

What if there were two Grand Finals happening this weekend: rates are high but the city is not full and it is Wednesday….  What should you do?  Hold or drop? First, ask yourself a few questions then do a little research: What is my financial goal over said event? Am I aiming for a revenue target or am I aiming …

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How to benefit from joining a brand in 2016

In a sector set to boast the world’s largest hotel company thanks to that Marriott-Starwood merger, branding has become more competitive than ever. This means that properties thinking about joining a brand have more leverage and benefits to gain than they may have done several years ago. Not only are the big mega-brands vying for your attention but there is a …

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How to identify guest segments with your hotel’s data

Here’s how you can use data to identify your future guests within your guest database, and use technology to get them to book directly. Time-poor urbanites For time-poor urbanites, examine each guest’s booking window and booking device. They tend to do things last-minute, because they don’t have the time to plan ahead. A booking window of 1-7 days, especially if done through …

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