The future of the hospitality industry is something we all contemplate three years after a global pandemic struck, changing the way we travel and the way we live. We’ve all had to adapt to this new reality, showing that resilience is without a doubt in our DNA. At the heart of this resilience is innovation and technology, which helps us better face these changes and to help us prepare for the future.

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While many industries focus on making and selling products, hospitality is more concerned with delivering service. A hospitality job is one that involves working in a service-oriented industry, such as tourism, lodging, events, transportation, or food and beverage, and performing tasks that foster a relationship with your company’s customers.

Services now comprise a large portion of the US economy, meaning that there’s high demand for hospitality roles at all experience levels. While some entry-level roles, such as server or bartender, tend not to require formal education, more advanced positions, like those in hotel management, have started requiring a college degree. That being said, hospitality can be an excellent industry in which to advance with on-the-job experience. 

Read the full article at: www.coursera.org

The global online travel market is estimated to be worth an impressive $1 billion in 2030. The demand is there, but are you capturing your share of it? To get your piece of the pie, you need to cover multiple hotel marketing channels and optimize them for direct booking revenue.

Hotel marketing channels are the avenues where you interact with your guests (and potential guests). From research to booking to post-stay surveys, there are dozens of touchpoints throughout the guest journey that you, as a hotel marketer, need to engage with.

Read the full article at: www.revinate.com

To succeed in hospitality, you need to focus on operations above all else. Operations is more important than sales, marketing, design, technology, or revenue management. Excellence in hotel operations means happier guests, better staff, and more profits for your investors. I learned this through working with tens of thousands of hotels around the world.

My career in hospitality started working the front desk at a small property on the California coast. From there, I built a hotel marketing website which eventually 70,000+ hoteliers used each month to learn how to increase demand for their properties. I wanted to learn about how to turn demand into revenue, so spent a few years at Duetto, a revenue management company co-founded by the former CTO of Salesforce.com. After that, I spent the past few years working with hotel owners and hospitality real estate investors at Juniper Square. 

Read the full article at: hoteloperations.com

If the past two years have highlighted anything about the travel and hospitality sector, it’s resilience. When COVID-19 hit, hospitality companies were still transitioning into digital- and data-led paradigms and adapting to non-traditional competition; during the pandemic, travel all but stopped in  many places, leaving property owners and managers scrambling.

Now that travel is picking up again, that same flexibility and willingness to adapt will be key – this time, in continuing to deploy technology to meet guests’ expectations and streamline operations. With that in mind, let’s see what trends will be leading the way in the hospitality industry in 2023 and beyond.

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Despite pent-up demand and projected high occupancy rates, achieving revenue targets in 2023 won’t be a walk in the park for hotels. However, smart approaches to revenue management will help improve your hotel’s bottom line.

We sat together with the experts from Duetto, an award-winning revenue management software solution for hotels, to identify the best practices for optimising a revenue management strategy. We also discussed the common pitfalls hoteliers should avoid in revenue management. Here’s what we found.

Read the full article at: oaky.com

Preparing a five-year financial plan for your hotel might sound daunting, but it is all in your head.

Let’s lay it out. You are either dreaming about a business that does not exist yet and you need a plan, or you are up and running and you want to look into the future and pave a path forward. Either way you need to same tools.

The importance of customer feedback and reviews in the hospitality industry

In any type of business you run, retaining customer satisfaction is a major factor to consider for keeping them loyal to the brand. Thus, the importance of customer feedback cannot be emphasized enough for businesses seeking operational excellence.

It is all about the data gathered throughout a customer’s interaction with your company, product or service, be it positive or negative customer feedback. The Horeca sector is known to be a customer-centric industry with the main focus of creating the best experiences for the customers to build brand loyalty. It is vital for any business to obtain additional information from existing clients in order to learn how they perceive its services so that decision makers can boost the satisfaction of existing clients and attract new ones.

Smart digital solutions like Ring n Bring understand the importance of monitoring live feedback and the critical role that these feedbacks play in hospitality. With its simple and effective approach, Ring n Bring assists organizations in obtaining multiple insights to improve their operations, keeping up with market trends, and recognizing emerging customer behavior patterns that are all relevant

Read the full article at: ringnbring.com

In the grand theater of economic sectors, the hospitality industry has consistently played a lead role. A powerful force in the global economy, this industry has been a cornerstone of growth and development in countries worldwide. But it’s an industry that never stays static; it evolves and adapts to the changing demands of travelers and the global scene. Over the past years, we’ve seen dramatic shifts in the way the hospitality industry operates. Be it that your company offers the cheapest weekly rate hotels or large-scale exclusive operations, these changes are not random; they are reflective of larger global trends and shifts in consumer behavior, technology, and sustainability. With an exciting future unfolding, this article aims to explore the trends and predictions shaping the future of travel and hospitality.

Read the full article at: www.hotelspeak.com

The world of travel and hospitality has always been at the mercy of change. Still, few could have anticipated the seismic shifts experienced over the past years. Now, as we look to the horizon, it’s time to examine the emerging trends and predictions in this industry.  One of the most significant trends is an emphasis on experience. As travelers become savvier, they’re looking for more than just a place to stay — they want a truly memorable experience. 

Read the full article at: www.hotelspeak.com

No time to lose, the next year is almost here. And a good hotel budget plan isn’t made overnight.

How far are you with your targets, budget, and plan of attack for next year? What REVPAR and GOPPAR do you need to achieve? Have you gone over what next year will look like in terms of performance, and does it describe all actions in detail? Does everyone on the team know what the objectives are and which steps to take to get there? Did you make your new hotel budget already or are you right in the middle? What methodology are you using? Are you simply adding 3% to 5% each month based on last year’s performance? Or are you really putting your teeth into it and drilling down per segment, per channel, per account, and per day?

Read the full article at: www.xotels.com

Working Collaborative Group Gatherings: A New Segment is Being Defined for Hotels

The concept of a hybrid workstyle is revolutionizing businesses and salespeople. Thanks to recent technological breakthroughs, companies have the option to hire employees from any geographic location, thereby reducing overhead costs associated with office space and equipment.

Read the full article at: lureagency.com

Today’s traveler’s journey is more fragmented than ever. With the recent proliferation of new travel super apps, distribution Goliaths such as Google and Expedia updating their ranking algorithms at a frantic pace, and the seemingly unstoppable growth of metasearch engine traffic, building and executing an effective hotel marketing strategy can seem intimidating. Maintaining a holistic, cross-channel approach is essential and always is highly-recommended by our hotel management company.

Read the full article at: www.xotels.com

No time to lose, the next year is almost here. And a good hotel budget plan isn’t made overnight.

How far are you with your targets, budget, and plan of attack for next year? What REVPAR and GOPPAR do you need to achieve? Have you gone over what next year will look like in terms of performance, and does it describe all actions in detail? Does everyone on the team know what the objectives are and which steps to take to get there? Did you make your new hotel budget already or are you right in the middle? What methodology are you using? Are you simply adding 3% to 5% each month based on last year’s performance? Or are you really putting your teeth into it and drilling down per segment, per channel, per account, and per day?

Read the full article at: www.hospitalitynet.org