Blogs

September 7, 2023

Hotel Management Company Investments in Staffing, Maintenance and Renovations Reflected in Overall Guest Satisfaction, J.D. Power Finds

After several years of incredibly challenging business conditions, which caused much of the hospitality industry to scale back on capital expenditures, hotel management companies have started making serious investments in renovations, maintenance and staffing. According to the J.D. Power 2023 North America Third-Party Hotel Management Guest Satisfaction Benchmark,SM released today, those investments are paying off in the form of strong satisfaction scores for quality of the guest room and staff service. In the span of a year, staffing has gone from being the biggest pain point for hotel management companies to one of the greatest strengths. “Despite continuing labor shortages, this is a testament to the efforts of the industry to ramp up hiring and training during the past several months. Interactions with staff is one of the most important components of a hotel stay and guests are noticing that they are getting better service. Andrea Stokes, hospitality practice lead at J.D. Power Following are additional key findings of the 2023 benchmark: Anticipation is everything: The most important key performance indicator when it comes to guest interactions with hotel staff is anticipation of guest needs. Across all third-party hotel management companies evaluated, hotel staff met that goal in 82% of guest interactions. Work still to be done on hotel lobbies/common areas: Hotel guests are looking for modern and unique design when it comes to hotel lobbies and common areas. Currently, just 13% of branded hotels evaluated are meeting these criteria. EV charging emerging as important feature: While the most important technology features of a hotel are good quality Wi-Fi and plenty of USB ports for charging devices, availability of EV charging stations is also starting to influence hotel selection and satisfaction. Overall, 19% of hotel guests say they need to have an EV charging station at their hotel but only 6% say they’ve actually used hotel-provided EV charging. Benchmark Ranking Davidson Hospitality Group and Dimension Hospitality rank highest in a tie in overall guest satisfaction, each with a score of 725. This is the second consecutive year that Davidson Hospitality Group ranks highest. HEI Hotels and Resorts (714) ranks third. The North America Third-Party Hotel Management Guest Satisfaction Benchmark was redesigned for 2023. Now in its fourth year, the benchmark evaluates guest satisfaction with branded hotels that are operated by the largest third-party management companies. It is based on six factors (in alphabetical order): communications and connectivity; food and beverage; guest room; hotel facilities; staff service; and value for price. The benchmark includes third-party hotel operators with more than 14,000 branded hotel rooms under management and is based on 3,942 guest responses for branded hotel stays from May 2022 through May 2023. For more information about the North America Third-Party Hotel Management Guest Satisfaction Benchmark, visit https://www.jdpower.com/business/third-party-hotel-management-guest-satisfaction-benchmark. — Source: J.D. Power About J.D. Power J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies. J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com. Industry RankingsReputation ManagementUnited States
September 7, 2023

Hilton Sandestin Beach Golf Resort & Spa Launches $35M Renovation

Hilton Sandestin Beach Golf Resort & Spa — Photo by Hilton Northwest Florida's iconic resort launches first stage of a multi-phased property-wide refurbishment. Hilton Sandestin Beach Golf Resort & Spa, an all-encompassing resort located along Northwest Florida's emerald coast, has announced a $35M property refresh. Comprised of three separate phases, the renovations kicked off with a complete room redesign, set to be completed and available for bookings later this year. The hotel's full property-wide renovation is set to conclude prior to spring break of 2024. The renovations began with an overhaul of the different room categories to offer visitors a coastal beachfront home-away-from-home. The first stage in this two-year refresh started in the winter of 2022, the new accommodations will enhance stays for guests of all ages with a bunkbed enclave, making family getaways more comfortable and accessible. Advanced features such as motion-censored lighting underneath beds, upgraded charging stations throughout the room or suite, and elevated vanity stations with deluxe lighting have been implemented to create a more enjoyable stay. Building upon the resort's already tranquil aesthetic, the remodel enriches the brightness in each guest room with a warmer set of blues and crisp white for contrast. The 590 total rooms and suites are modified by floor and spaced out during the different renovation stages across each of the hotel's two towers, Emerald and Spa, to avoid disruption for guests. A revamping of the six on-site dining outlets, three swimming pools, beachfront deck space, full-service Serenity by the sea Spa, main public spaces, and more will take place in the second and third phases of the resort's renovations. Hilton Sandestin Beach holds a long-standing reputation for creating memorable stays for guests of all ages. Drawing in many travelers for repeat visits in addition to providing unique dining and spa experiences for those living in the surrounding community, the resort looks forward to further surpassing expectations with the complete property refresh. Hotel website Hilton Sandestin Beach Golf Resort & Spa4000 S Sandestin BlvdMiramar Beach, FL 32550United States +1 850-267-9500 Miramar BeachFloridaUnited States
August 7, 2023

RateGain announces the appointment of Peter Strebel as its New President for the Americas

Dallas - RateGain Travel Technologies Limited, a global provider of SaaS solutions for travel and hospitality, today announced the appointment of Peter Strebel as its new President to lead the Americas region. Peter, a two-time CEO, in his last role, was the Chairman of Omni Hotels & Resorts, providing strategic counsel to the company before serving as the company’s former President, Chief Marketing Officer, and Senior Vice President of Sales. Named as a Top CEO on Glassdoor, Strebel was responsible for guiding the company through the pandemic crisis, leaving the brand in a prime position to capitalize on the rebounding trends and changes in the industry. He also played an instrumental role in creating and driving innovative branding, communications, marketing, and business development strategies to increase awareness, capture market share, and build revenue for the luxury hotel brand. In between his time with Omni, Strebel served as Executive Vice President and Chief Marketing Officer for the Wyndham Hotel Group and was promoted to President of the company before returning to Omni. Strebel sits on the board of directors for the American Hotel and Lodging Association (AHLA), as well as the board of trustees for the Incarnation House in Dallas, Texas. Peter will be replacing the outgoing President, Chinmai Sharma, who spent half a decade with RateGain, playing a key role in scaling its Americas business and providing overall strategic guidance for RateGain’s growth in the region. Over the last few years, through strategic acquisitions, RateGain has consolidated its position in the enterprise segment in the Americas region, with the region contributing significantly to the company’s top line. A lifetime hotelier and an advocate of new technology, combined with Peter’s deep understanding of the industry and extensive experience in the region will help RateGain accelerate growth as it looks to double its revenue in the next three years. Welcoming Peter to RateGain’s leadership team, Bhanu Chopra, Founder, and Managing Director of RateGain, said, The next phase of RateGain’s growth requires a leadership team that can help us outsize the impact we are making on our industry, and I am quite certain that Peter will help in bringing that to RateGain. His experience in leading operations, sales, and marketing will be critical for us to drive more well-rounded growth as we aim for our next big goal. I would also like to take this opportunity to thank Chinmai for his leadership and belief in RateGain. The work he has done in scaling the business and identifying new business opportunities leaves the Americas team far better positioned for success, added Bhanu. Commenting on RateGain, Peter Strebel said, I have built a career by continuously identifying new areas of investment and innovation to change the status quo, and I believe that RateGain is also trying to do the same for the hospitality industry. The opportunity to do that for over 100,000 hotels excites me about this opportunity. Peter is based out of Dallas where he lives with his wife and enjoys spending time with his family. About RateGain RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with 2800+ customers and 700+ partners in 100+ countries, helping them accelerate revenue generation through acquisition, retention, and wallet share expansion. RateGain today is one of the world's largest processors of electronic transactions, price points, and travel intent data, helping revenue management, distribution, and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises, and ferries drive better outcomes for their businesses. Founded in 2004 and headquartered in India, today RateGain works with the Top 23 of 30 Hotel Chains, the Top 25 of 30 Online Travel Agents, and all the top car rentals, including 8 Global Fortune 500 companies, in unlocking new revenue every day. For more information, please visit www.rategain.com. Forward-looking Statements Certain statements in this release are forward-looking statements, which involve some risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words "planned,' "expects,' "believes', "strategy,' "opportunity,' "anticipates,' "hopes', or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, data services, and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptance of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages. RateGain PR+91 120 4246781
August 7, 2023

Sandpiper Hospitality to Manage Courtyard by Marriott Fort Collins, CO

Sandpiper Hospitality – a Virginia-based hotel management company with vast expertise in the extended-stay segment – is excited to announce that it has been awarded the management contract for the Courtyard by Marriott Fort Collins. The hotel is owned by a subsidiary of 44 Group Hospitality Investments. The stylish Courtyard by Marriott Fort Collins offers a prime northern Colorado location, offering easy access to Colorado State University, New Belgium Brewery and downtown Fort Collins, which served as the inspiration for Main Street USA at Disneyland. The hotel features 112 spacious guest rooms, all with luxury bedding, a well-lit work space and complimentary WiFi. Amenities at the dog-friendly hotel include an indoor pool and hot tub, outdoor fire pits, a fitness center and a convenience store. The hotel will undergo a major renovation starting later this year. Sandpiper Hospitality is approved by Marriott International, IHG Hotels & Resorts, Choice Hotels International, Wyndham Hotels & Resorts and Extended Stay America to manage their select-service and extended stay brands and now manages over 10 different brands in its burgeoning portfolio. “We are thrilled to add this Colorado hotel to our portfolio and look forward to a successful long-term relationship,” said Sandpiper Hospitality Vice President of Business Development, Victor Cruz. “This is our first third-party management contract for a Marriott-branded hotel and we see great potential to continue expanding the Sandpiper Hospitality footprint with third-party management. Our team is deep, talented and extremely focused on client ROI.” Sandpiper Hospitality continues to expand its roster of hotels, adding 17 new properties to its management portfolio in the past 12 months, including three newly developed Wyndham Hotels & Resorts properties in Texas. The additions include a first-of its kind dual-branded La Quinta Inn / Hawthorn Suites in Pflugerville, TX, along with the WoodSpring Suites Orlando I-4 & Convention Center in Florida for new client Sunburst Hospitality. Sandpiper Hospitality has a portfolio of over 60 hotels open or under contract with over 20 under management for third-party clients. Sandpiper Hospitality continues to demonstrate its unique ability to combine a flexible approach to third-party management with extra-ordinary financial results for its investors and clients. For more information, please visit www.sandpiperhospitality.com.
July 7, 2023

STR: U.S. hotel results for week ending 1 July

U.S. hotel performance fell from the previous week, but year-over-year comparisons improved, according to STR‘s latest data through 1 July. 25 June through 1 July 2023 (percentage change from comparable week in 2022): Occupancy: 69.9% (+4.1%) Average daily rate (ADR): US$156.27 (+1.5%) Revenue per available room (RevPAR): US$109.18 (+5.7%) Among the Top 25 Markets, St. Louis saw the highest year-over-year increases in occupancy (+22.2% to 71.6%) and RevPAR (+39.3% to US$96.46). Philadelphia posted the largest ADR lift (+16.4% to US$170.53). The steepest RevPAR declines were seen in New Orleans (-25.1% to US$119.12) and Miami (-10.2% to US$112.20). About STR STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets. For more information, please visit str.com and costargroup.com. Markets & Performance
July 7, 2023

WMF – 170 Years of German Innovation

WMF celebrates 170 years! Since its foundation in Geislingen, Baden-Württemberg, WMF has stood for metal craftsmanship, outstanding quality, sophisticated design and decades of experience with professional tools. From pure metal processing at the beginning, a comprehensive portfolio has developed in the three business areas of consumer products, coffee machines for the professional sector and hotel equipment. In doing so, WMF maintains its values and traditions, but always keeps its finger on the pulse of the times and focuses on groundbreaking innovations. Over the years, this has resulted in a considerable number of milestones, patents and design icons. In 1853, mill owner Daniel Straub and the Schweizer brothers founded the Straub & Schweizer metal goods factory in Geislingen. In 1880, the company merged with the Ritter & Co metal goods factory to form the Württembergische Metallwarenfabrik. Today the brand can look back on 170 years of change and success and is proud to still bear its roots and heritage in its name: WMF - Württembergische Metallwarenfabrik. WMF offers cooking, drinking and eating culture at the highest level. More than 100 million people worldwide use WMF products every day. They use them in their kitchens at home, enjoy freshly prepared coffee specialities or stylishly served dishes in restaurants and hotels. In every case, award-winning design, perfect functionality and premium quality ensure a culinary experience. In the professional segment of the catering and hotel industry, WMF Professional Coffee Machines and WMF Professional Hotel Equipment are the leading global players. The topic of design determines all areas of the WMF brand. Design is not a mere formality, but is seen as a whole that combines aesthetics, function and utility. In this way, many years of expertise and a passion for metal as a material lead to high-quality aesthetics that are particularly durable. The traditional origin from Germany, iconic design, metal craftsmanship as well as expert know-how in the production of coffee machines and equipment for the professional sector form the four pillars for every creative idea and product development. WMF uses its anniversary as an opportunity to celebrate its origins in Geislingen and its wealth of experience. Typical for WMF: It does not remain a mere retrospective, but spans the arc to groundbreaking developments of today. “170 years full of innovative spirit and fantastic milestones - that is a special achievement. Happy Birthday WMF! I am very happy to be able to work for a company with this history," says a delighted Oliver Kastalio, CEO at WMF. "And I am equally proud that we continue to develop the values of the founder, the demand for design and high quality with our products in a contemporary way. We are aware of our precious heritage and yet we are always looking ahead. Because - we still have a lot ahead of us." Three business units Refined tableware and products for the kitchen at home or coffee machines in upmarket restaurants and hotel equipment – for WMF, as a premium brand, in its three business units, only the best is good enough. With the promise “Designed to Perform,” WMF Professional Coffee Machines emphasises the technically outstanding and reliable performance of every WMF coffee machine, from fully automatic machines to automatic portafilter solutions right through to fully automatic filter machines. A distinguishing feature of the products for the B2B segment is quality “Made in Germany”. Besides, with more than 320 technicians, WMF has the largest in-house service organisation in Europe. WMF Professional Hotel Equipment has a range which meets even the highest requirements and offers products for hotels and restaurants in premium quality and numerous design variants. From cutlery and glassware to serving equipment or table decoration right through to a flexible modular system for buffets, the product range includes all you could wish for optimum guest service.Right from the beginning, the range for end consumers stood for special moments of indulgence and for design “Made in Germany”. From hand-forged knives to premium cookware or state-of-the-art electrical appliances for almost any application. The products are designed to make every moment of their use special – from preparation to cooking to eating and drinking. A subsidiary of Groupe SEB Since 2016, as a subsidiary of the French Groupe SEB, WMF has been part of an international teams of 33,000 employees in over 150 countries, who are responsible for 31 brands from the consumer and the professional segment. With its successful blend of accumulated experience and passion for innovation, WMF not only has a similar corporate history, but also shares many key values. At the same time, WMF remains true to its roots as a premium brand with headquarters in Geislingen and 170 years of experience. Quality Outstanding quality is one of the cornerstones of the company, which places high demands both on its products and on itself, from the selection of materials, craftsmanship and design through to consulting expertise. The internationally renowned quality seal and designation of origin “Made in Germany” applies to a large proportion of the value chain. WMF manufacturers at sites in Germany, in Europe, and works with hand-picked suppliers and partners worldwide. The company has a global quality organisation which inspects all goods, tests them in accordance with statutory requirements and ensures compliance with its own consistently high standards. Production sites in Germany Since its founding, WMF has been closely connected with the region Baden-Wuerttemberg. With three of its sites, WMF has made a clear commitment to Germany as a production location. In Hayingen, Riedlingen, Geislingen and Birkenfeld, cutting edge technology and traditional craftsmanship come together. At the company’s headquarters in Geislingen, WMF Professional Coffee Machines manufactures a wide range of coffee solutions – for hotels, restaurants and catering companies or offices and bakeries and for all business ideas in which premium coffee concepts play an important role. WMF Professional Hotel Equipment, the premium supplier of products for the perfectly laid table and the buffet, is based in Birkenfeld. In Hayingen, WMF manufactures knives whose key feature is the exclusive Performance Cut technology, while the Riedlingen site is the competence centre for glass ceramics and the WMF Fusiontec series. Approximately 800 patents From the very beginning, WMF had a special feeling for the combination of tradition and innovation – and as a result, it has developed many unique materials and technologies over time. To date, WMF holds approximately 800 patents and is a pioneer both in the area of products for end consumers and professional coffee machines. The portafilter concept “WMF espresso,” for example, raises barista-made coffee to a completely new level when it comes to process reliability. As the first machine of its kind, the WMF espresso combines the flair of Italian portafilter concepts with the consistently high coffee quality of a WMF fully automatic coffee machine, while the “WMF AutoClean” system revolutionises and simplifies machine cleaning. Both the coffee and the milk system of the WMF fully automatic coffee machines are cleaned automatically, reliably and hygienically, at preset times and with no intervention needed. This brings a real time-saving, because it frees all employees from unpopular cleaning tasks. At WMF, new hardware components or software solutions are always developed with the aim of generating real added value for operators and end consumers – an aim which dovetails perfectly with the values of “Made in Germany”. Design as brand essence Exceptional design was an integral part of the company’s history right from the start. Clear silhouettes, a love of detail, hand-picked materials and harmonious surfaces are the characteristic features of WMF design. And the focus is always on the user. The intention is for the products to offer an emotional experience while preparing and cooking food and beverages. Today, WMF’s internal design team works on products in all product categories. Dialogue with specialists from widely ranging fields plays a key role here. Around 600 prestigious national and international design awards are evidence of the high standard and great importance of design at WMF. 1853 – 2023: WMF milestones WMF Professional Coffee Machines If we journeyed back through time to the last century, we would see the WMF pioneers, company founder Daniel Straub and his team, manufacturing the world’s first hotel coffee machine. Just a few years later, in 1927, a large-scale series of commercial machines left the premises of what was then the metal goods factory Straub & Schweizer in South Germany, paving the way for the triumph of German engineering. The first major breakthrough came in 1932 with the “WMF 1000,” a robust coffee machine with intuitive control. In 1954, the company set up an in-house customer service – unique in the industry. The high-quantity coffee machine “Programat” with its electronic control was launched in 1969 and became a further technological milestone. Process reliability through automation remained a central topic at WMF in the decades that followed. “Bistro,” the first speciality machine, which was launched in 1994, was an impressive example. Its success was only exceeded in 2005 with the WMF “Presto,” an inexpensive entry-level model which found a ready market. Today, the solutions portfolio of WMF Professional Coffee Machines contains the ideal coffee machine for every customer concept, including innovative customer touchpoints and intelligent data analysis. Innovative serving concepts ensure absolutely reliable coffee preparation processes – both in serviced and self-service operations. For the coffee concepts of the future, the award-winning technology platform “WMF CoffeeConnect” guarantees comprehensive collection and analysis of performance and service data from the linked WMF machines. This gives rise to digital environments that are used for the online monitoring of coffee quality, production readiness and machine availability as well as for the flexible creation of sales offers or smart maintenance. With digital solutions such as “WMF Smart Remote” and “WMF Payment Solutions,” WMF is also taking giant strides towards the future. Fully automatic cleaning system “WMF AutoClean,” which ensures hygienic cleanliness independent of personnel and opening hours, and various cooperation projects with “robot cafés” show that WMF is already firmly focused on the future. WMF Professional Hotel Equipment For restaurant and hotel managers all over the world, WMF Professional is a highly valued partner – both in front of and behind the scenes. The key strengths of the traditional brand are innovative, high-performance and stylish complete solutions for arranging and serving foods and beverages. WMF Professional’s range thus meets even the most exacting requirements, offering products for hotels and restaurants in all qualities and many design variants. From a wide range of cutlery and glassware to serving equipment or table decoration in various materials through to a flexible modular system for buffets and a large choice of tableware, the product range includes everything that is needed for optimum guest service. The milestones of the past years include: WMF Quadro With the modular buffet system QUADRO, launched in 2017, WMF Professional confirmed its commitment to profitability, flexibility and elegance. With QUADRO, hotel and restaurant managers can present dishes for breakfast, lunch or dinner to optimum effect. The key to individuality here is maximum scalability of elements in GN format, with high-quality optics, haptics and material characteristics. SYNERGY & STYLE LIGHTS With its first own tableware collection, SYNERGY, and the lifestyle range STYLE LIGHTS, launched by WMF Professional in the year 2021, chefs and restaurant managers are now able to realise dining concepts on a perfectly laid table and display them to best effect. TRUE FLAVOUR WMF Professional’s latest coup is the glassware collection TRUE FLAVOUR. The stylish crystal glasses are perfect for serving coffee specialities of all kinds. Thanks to the use of a new manufacturing process without double-wall glass, it is now possible to pour boiling hot beverages into crystal glasses.q
June 7, 2023

Hospitality Industry Leader, Estella Hale, Joins HotelIQ as Chief Commercial Officer

Atlanta, Georgia – HotelIQ – the leading business intelligence (BI) and analytics platform, which gives hoteliers access to accurate, consistent property data across siloed business operations, facilitating collaboration to identify new revenue opportunities – is very pleased to announce the appointment of hospitality industry veteran, Estella Hale, as Chief Commercial Officer (CCO). Estella comes to HotelIQ with more than 20 years of experience in the hospitality industry, primarily working in leadership roles at various hospitality technology companies. As CCO at HotelIQ, Estella will be working closely with Founder and CEO, Apo Demirtas, to execute the company’s overall strategic vision and oversee commercial operations. Specifically, Estella will be leading the commercial and customer experience teams, overseeing product positioning and will be responsible for developing a go-to-market strategy that will maximize HotelIQ’s market share and ensure sustainable growth. “I've chosen to join the team because HotelIQ Decision Cloud is a product that I am proud to represent and which I fully believe in,” said Estella. “Decision Cloud is not just a BI and analytics tool; the HotelIQ team has created a true collaboration platform that will help hotels break down the silos that have always existed between the revenue management, sales and marketing departments and, by doing so, enable them to work together, more effectively, to identify revenue opportunities.” In her more than two decades in the travel industry, Estella has been widely recognized for her ability to guide technology companies through their initial launch phases, through to investment or acquisition. “Estella has an impeccable reputation in the hospitality technology industry and I’m very proud to have her leading our commercial team,” said HotelIQ Founder and CEO, Apo Demirtas. “I know that Estella’s in-depth industry knowledge, network of connections and experience in leadership enablement and innovation, will be key ingredients in our ability to establish HotelIQ as the expert in business intelligence in the minds of potential hotel clients, and, as a result, execute our ambitious plans for growth over the coming years.” Prior to joining HotelIQ, Estella led strategic sessions at Deloitte’s Greenhouse®, designed to accelerate innovation, inspire and advance teams to achieve their vision. In addition to her time at Deloitte, Estella has worked in executive leadership roles at leading hospitality industry companies including, SHR, iHotelier and Whiteboard Labs. Estella has a master’s degree in Technology Commercialization from Texas McCombs School of Business, which is the program that initially gave her the passion for the commercial leadership work that she is now so highly respected for. To find out more about Estella Hale, her new role at HotelIQ or to arrange an interview, please contact Jennifer Nagy at [email protected] or +1.786.420.1160. About HotelIQ HotelIQ is a leading global hospitality technology company, composed of former hoteliers and data scientists, offering the most sophisticated analytics and business intelligence platform for global hoteliers. HotelIQ's Decision Cloud, powered by its Decision Intelligence architecture, enables hoteliers to make better, faster business decisions, even across siloed operational departments and, as a result, increase revenue. The solution makes it possible for hoteliers to better understand their property's key performance metrics, create and manage forecasts and budgets more effectively using AI powered proprietary predictive models and identify opportunities to increase bookings and revenue, while eliminating time-consuming manual data analysis. Using Decision Cloud, sales, marketing and revenue managers now have access to consistent, high-quality property data, via easy-to-use dashboards and comprehensive reports, making it possible for the teams to work together to identify new revenue opportunities – without leaving the solution's digital workspace. Find out more about HotelIQ's Decision Cloud at www.hoteliq.io. Jennifer Nagy+17864201160
June 7, 2023

The Hotel Profit Playbook: Data-driven Strategies to Move Beyond Rooms Revenue

BETHESDA, MD. – MDO, in collaboration with Stayntouch and Revenue Analytics, has released "The Hotel Profit Playbook: Data-Driven Strategies to Move Beyond Rooms Revenue," a special report aimed at redefining the way hoteliers approach profit management. The Hotel Profit Playbook introduces the concept of Total Profit Optimization, defined as the act of broadening operational strategies to include focus on all the revenue-generating areas in a hotel, and then measuring the flow through of each of those outlets to determine optimal profitability. In recent years, hotel owners and operators have shifted from top-line data collection and analysis to making more decisions around driving bottom-line margins. Understanding labor and amenity costs, analyzing non-room revenue trends, and centralizing data from all revenue sources is arming hospitality leadership with the right data to make more profitable decisions. Key insights in the report include: Implementing a more holistic revenue analysis that goes beyond rooms revenue Applying revenue management principles to ancillary outlets like F&B and spa services How TrevPAR could fundamentally reshape hospitality thinking Understanding and measuring profit margins at each outlet across a property Centralizing data to empower hoteliers to make more profitable decisions "I think hoteliers are ultimately going to want to focus on areas where you can manage expenses better," says Raquel Ortiz, Director of Financial Performance at STR, in the report. "Rooms and F&B are definitely more labor intensive and have more expenses tied to it, but golf and spa, which are more experiential, you can control the labor a little bit more and you can have larger markups on the products." The Hotel Profit Playbook is a call to action for all hotel owners and operators to embrace these changes and rethink how to measure success, to not only survive in this rapidly evolving industry but to thrive and achieve optimal profitability. Click here to access a free copy of The Hotel Profit Playbook: Data-Driven Strategies to Move Beyond Rooms Revenue. About MDO myDigitalOffice (MDO) is the world's fastest-growing hotel data platform, providing nearly 10,000 hotel owners and operators across the globe with centralized, digital access to their most critical documents and cross-functional performance metrics. Through integrated data feeds, document workflow management, and award-winning custom dashboards, hoteliers are able to reach greater levels of profitability by operating more efficiently, improving budgeting and forecasting, and reducing their environmental impact. Learn more at www.mdo.io. Jason FreedHospitality Data EvangelistmyDigitalOffice View source
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