Only price is valued over positive reviews in online travel booking
A poll has indicated that user-generated content in the form of positive reviews on sites like TripAdvisor is increasingly becoming the make or break factor when it comes to online travel booking, with more than one quarter of consumers identifying it as the most important factor.
http://www.eyefortravel.com/news/europe/only-price-valued-over-positive-reviews-online-travel-booking
OTA debate stresses better channel management
What’s the topic that never ceases to pack a room or stir up emotion? The role of online travel agencies in hotel-room distribution.
http://www.hotelnewsnow.com/Articles.aspx/5702/OTA-debate-stresses-better-channel-management
Five Reasons to Bet Big on the Asia Pacific Online Travel Market
The Asia Pacific online travel market has reached a tipping point. With the region’s online leisure/unmanaged business travel market surpassing 20% of the total market in 2010, online travel is no longer in its infancy. Double-digit growth is projected through 2012, and momentum is building.
http://www.phocuswright.com/library/fyi/1659?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+PhoCusWrightFYI+(PhoCusWright%27s+FYI)
Northstar Travel Media acquires PhoCusWright
Northstar Travel Media, a leading business-to-business information company serving the travel and meetings industries, has acquired PhoCusWright, a premier global travel, tourism and hospitality research and event business.
http://hotelmarketing.com/index.php/content/article/northstar_travel_media_acquires_phocuswright
The future state of revenue management
According to STR’s Randy Smith, the single biggest problem the industry is facing right now is the way we’ve trained our customer base to constantly seek a deal, to constantly negotiate, to constantly look for the lowest price.
http://www.hotelnewsnow.com/articles.aspx/5671/Demand-pricing-QA-with-STRs-Randy-Smith
Newshound: Trends and Reports – Hotel Online Distribution
European online travel industry grew 11% in 2010
http://hotelmarketing.com/index.php/content/article/european_online_travel_industry_growth_11_in_2010
http://www.comscore.com/Press_Events/Press_Releases/2011/6/Online_Travel_Audience_in_India_Jumps_32_Percent_in_Past_Year
http://www.traveldailynews.com/pages/show_page/43550-Chinese-market-shows-continued-year-on-year-growth-in-RevPAR-for-the-first-four-months-of-2011
http://press.pegs.com/News-Releases/Business-Travel-Dips-in-April-15f.aspx
http://www.hotelnewsnow.com/articles.aspx/5607/8-trends-shaping-the-US-hotel-recovery
Bookings via online travel agencies comprise just 37% of global online travel sales, versus 63% for suppliers. The channel mix is not expected to change through 2010, although supplier websites, which represented two thirds of the global market in 2008, lost share during the global recession.
http://www.phocuswright.com/library/fyi/1652?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+PhoCusWrightFYI+(PhoCusWright%27s+FYI)
Newshound: Trends and Reports – Hotel Online Distribution
The updated lodging forecast released today by PwC US shows that the lodging recovery is expected to continue at a solid pace in 2011, driven by balanced growth in industry occupancy and average daily rate.
http://origin-pwc.pwc.com/us/en/press-releases/2011/Solid-RevPAR-Growth-Anticipated-to-Continue.jhtml
Asian hotels continue to see double-digit gains
Hotels in the Asia Pacific region experienced mostly positive results in the three key performance metrics during April 2011 when reported in US dollars, according to data compiled by STR Global.
http://www.traveldailyasia.com/IndustrySpecific/Detail.aspx?Section=56630
US hotels enjoyed close to 10% profit increase in 2010
While 70 percent of the properties in the Trends® hotel financial sample enjoyed an increase in revenues in 2010, only 60 percent were able to convert that into more money in the bank, indicating that the turnaround in industry performance has not occurred evenly across all sectors of the U.S. lodging industry.
http://www.4hoteliers.com/4hots_nshw.php?mwi=8640
Who are my ‘true’ hotel competitors?
While the question will continue to linger, technology, resources and analytics will continue to evolve. This will undoubtedly provide us with greater insights and strengthen the position of individuals involved in those lively boardroom discussions.
http://www.hsmaieconnect.org/blog/Who_are_my_true_competitors
Social media significant traffic source for 78% of travel sites
Social media is a ‘top eight’ driver of traffic for 78% of travel sites according a recent study of the “digital competency” of travel brands, with airlines and hotels dominating the leading brands in the study.
http://econsultancy.com/us/blog/7538-social-media-significant-traffic-source-for-78-of-travel-sites?utm_medium=feeds&utm_source=blog
Europeans using new media more to organise and manage their holidays
Europeans are organising more and more via the Internet in preparing their holidays, with 57 percent of them claiming to reserve mainly via the Internet, according to a new study.
http://www.eyefortravel.com/news/europe/europeans-using-new-media-more-organise-and-manage-their-holidays
Road to Effective Channel Management – Part 1: Understanding today’s scenario
Heads in beds is the key driver for all hotels – we know that if you don’t have the occupancy to meet running costs then you will become another of those properties closing each week. The recession has bitten hard but it’s also the result of a much more competitive hospitality industry.
Today’s world requires a much more aggressive approach to sales and distribution. Your hotel needs to be visible, it needs to be value driven and it needs to be easy to book.
You may have developed clever ancillary revenue strategies, improved your customer service or completed a major refurbishment of your rooms – but without a clear distribution, pricing and revenue strategy you will continue to struggle against stronger and more knowledgeable hoteliers.
City markets are becoming more volatile with hoteliers selling on an average of 10 websites, some sell across as many as 24 or more, are you matching this sales technique?
Hoteliers can update their rates up to five times a day to secure their much needed occupancy levels, you too need to ensure that your rates are consistently reflective of market conditions and you do not price yourself out.
To help assess the effectiveness of your hotel’s channel management techniques, you need to measure and benchmark your current strategy.
We no longer sell rooms, we sell products. For the guest it’s the entire experience from researching accommodation, booking, checking-in right until check-out.
Start by finding out what people already think of your product by looking at guest reviews. This will also give you more information about your guests – who they are, what they like, age, and lifestyle – from a review you can build a whole personality profile.
Once you have identified your target audience and what you are selling, you then need to market it. You wouldn’t market a business suite to leisure travellers, so you need to make sure you are visible in the places corporate travellers’ book.
You need to know what other hotels are charging, make sure that you know the exact value of your product against others. It is important that your walk-in rate is different to your online rate; this will help you secure more bookings in advance while maintaining integrity.
Check out Road to Effective Channel Management Part 2.
Newshound – 05/05/2011
Global Hotel Market Proves Resilient in March
http://www.etravelblackboard.us/showarticle.asp?id=98408
http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=149598
http://www.ameinfo.com/263959.html
http://www.traveldailynews.com/pages/show_page/43037-Local-OTAs-rule-India%E2%80%99s-growing-online-travel-market
International Sales Meet 2010
Our VP International Sales, Keith Povah, organised a very thorough but fun and engaging itinerary. Surrounded by our Management Team and Board of Directors, our sales managers demonstrated their success over the past 12 months and the opportunities that lie ahead.
Our new VP RTCorporate, Keith Watson, told me “The ISM managed to combine the sharing of information amongst a large team with the chance to get to know them better in a non-work environment. The sessions allowed for many different topics to be covered, which for a new starter is a great introduction.” Having only been in his role for a few weeks it seems this was the perfect intro to the madness of the Tiger!
Casey Davy, our UK Sales Manager (while he had to stay home – no international travel for him) said “There were great training sessions to expand and reinforce product knowledge, opportunities for knowledge sharing, and exercises to help develop individual skill sets and overviews of strategic sales and marketing plans. It was also an opportunity for Management to share with the team the big picture, corporate goals, and development within our budding company.”
While our US team did get to travel halfway across the world, from Orlando our Sales Manager Sandy Fanucci also a new member of the team said: “I have been in sales for over 9 years and have participated in many Regional/National Sales Meetings. I have to say this is honestly the first one I enjoyed as much as I did. The meeting format was perfect. Sitting in meeting rooms all day, consecutive days in a row can be very rigorous for someone that’s used to being on the go. So the fact that we got what we needed from a full day’s meeting then a “day break” in between with LOTS of fun was ideal.“
The ‘day break’ she is referring to was a day of Paintball. All members of the team conscientiously participated. The groups, split in two, came out winning four games each – although the hot dogs were much to be desired.
Following the ISM, the team is now back at their desks rapidly working through developments and ideas that came from the session. It’s non-stop for the Tiger!
eRevMax Football Tournament 2010
The Hotel Industry Forum 2010
Arabian Travel Market 2010
Czech Hotel Association Event 2009
In the last week of November (25th – 27th November 2009) I attended an event organized by the Czech Hotel Association. As a RateTiger representative I was eager to see the kind of turnout the event would witness and I am glad to say that it was not a dismal show. With over 260 member hotels and companies present, it provided a good opportunity to meet many hoteliers.
The event included three full day conference with networking evening parties. Some of the discussion topics included recent developments in global economy and its impact on Czech Republic, tourism market in the region as well as scenario in Czech hotel industry compared to the EU states and rest of the world. The presentation hosted by STR Global turned out to be really interesting allowing hoteliers to see how others have remained resilient in tough economic conditions.
Hotel Managers from different cities in Czech Republic were present at the event with a good section of them representing Prague. I met with many of them and was glad to hear they considered RateTiger to be a leading channel management solution provider and wanted to know about our new products and features.
Overall it was a great experience with excellent networking, lots of new contacts and the opportunity to create further awareness about the products. It was good to know the importance of the Hotel Association’s event given that various senior members from many hotels were there. I look forward to attending the event next year.
Aldona Kaczmarczyk is Sales Manager – Eastern Europe at eRevMax and is responsible for sale of RateTiger products in the region. Aldona can be reached at aldonak@ratetiger.com