Effective revenue management includes knowing the needs and wants of groups, communicating with groups, embracing technologies and managing transient travelers.
Hotels see the co-working spaces as a way to build loyalty with both hotel guests and the general public, said Adam Weissenberg, the head of travel, hospitality and leisure at Deloitte.
The new record marked a 30% increase over the previous peak of 1.57 million hotel room nights booked on a single day in 2017.
While revenue management is focused on the whole revenue of a business, including ancillary revenue and spending, yield management focuses on the price and the volume of sales.
Trialling controversial campaigns in a smaller area is always wise and if it proves successful in one market, consider taking it to other suitable ones.
Until the details are finalized, the jury’s still out on the impact of a Marriott-Expedia agreement. But suffice it to say, these frenemies still depend on one another.
Airbnb Inc. and other home-sharing firms won’t have to comply with a New York City law requiring them to turn over renter data until a lawsuit over the issue is resolved.
China’s total construction pipeline continues to be led by Shanghai and Guangzhou with 125 projects/24,403 rooms, and 113 projects/26,897 rooms, respectively.
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