profit

Just over a year after the pandemic, the global hotel industry is slowly stirring from hibernation and seeing at least modest gains in traveler demand

We look at cost implications and revenue opportunities these create and how, by understanding breakeven and modelling, you can see if they are profitable

Hoteliers need to look at all hotel spaces available to them, but being on-property daily can make it difficult to see the opportunities that could exist

Though global travel remains stunted, some regions are showing signs of sustained performance positivity. Include AsiaPac and the Middle East on that list

Getting the right rate strategy is crucial and flexibility will be needed for a while. Perhaps the days of non-refundable or advance payable rates are over

There are numerous of ways to ensure you’re in the best position to maximise your revenues, ready for recovery when you start welcoming guests back

As with any revenue plan, successful agility is not determined by knowing what specific outcome will occur, but by understanding all possible outcomes

A hotel P&L is key to understanding strength and weakness. Hoteliers can identify areas of underperformance and tweak strategies geared to improvements

Key is to build a strong loyal guest base, as this drives down customer acquisition costs significantly and increases customer lifetime value

Key to streamlining hotel operations for more profit is to look at hotel KPIs holistically. With benchmarking numbers in hand it’s easier