Tag: hotels with restaurants near me
Innovation helps employers hurt by worker shortages
Used to be, if you wanted to order takeout from Mac’s Seafood, which has multiple locations on Cape Cod, you had to call them up. And Mac Hay, the owner, said those conversations could get long. “You’d ask a question as a person who’s taking the order, they’d turn around and ask the people in the room, ‘Did we want to add onions?’ And then it’s like, oh, my God, you’re waiting there, and you’ve got five people on hold,” Hay said. Then, during the pandemic, Mac’s Seafood adopted online ordering. Hay estimates it’s saved five to seven minutes of…
10 Strategies for Big Hotel Chains to Stay Ahead
The travel industry is an ever-evolving sector, constantly shaped by technological advancements and changing consumer preferences. For big hotel chains, with their global presence and abundant resources, staying ahead in this dynamic landscape requires adaptation and embracing new strategies. So, how can big hotel chains optimize their businesses to ensure future success? Well, the solution lies in a clear focus on key areas such as distribution strategies, sustainability initiatives, connectivity incentives and technology partnerships. Here are my top 10 recommendations for hotel chains to stay ahead of their peers. Idea 1: Embrace Technological Innovations To remain competitive, big hotel chains…
The Future of Rate Parity in the Hospitality Industry
In the dynamic hospitality landscape, maintaining rate parity remains a critical concern for the hoteliers. What is rate parity? Nothing but the practice of selling equal rates across all distribution channels, including direct booking websites, OTAs, and offline sales channels. Rate parity is key to ensuring fair competition as it guarantees that consumers receive consistent pricing, regardless of the channel through which they book. However, hoteliers must overcome some obstacles to preserve it. Rate leakage is one of the main challenges that hotels face. It occurs when unauthorized channels offer lower rates without the property’s consent, leading to rate disparities…
Adapting Hotel Business Strategies: Shifting Dynamics and Optimistic Outlook
In the video, Saurabh Prakash — Group Senior Vice President, Commercial (Global) at Millennium Hotels & Resorts — discusses the changes in responsibilities and strategies adopted by the hotel industry during the pandemic. With a volume-driven approach, hoteliers aim to secure as much of the leisure and retail business as possible. Prakash highlights that nearly 80% of Millennium’s business was driven by the retail sector at that time. However, with the recovery of corporate business, there is an expectation of a shift to a 60-40 distribution between retail and meetings, incentives, conferences, and events (MICE) and group bookings. Prakash expresses…
Managing Hotel Demand During Special Events
Special events such as concerts, conferences, sports tournaments and festivals attract a surge in demand for hotel accommodations. While these events present lucrative opportunities for hotels to boost revenue, they also come with unique challenges. Successfully managing hotel demands during special events requires strategic planning, effective inventory management, and exceptional guest experiences. In this blog, we will explore valuable tips and strategies to help hotels navigate the highs and lows of managing demand during special events. Understanding the Impact of Special Events on Hotel Demand Special events have a significant impact on hotel demand, creating both opportunities and challenges. Key…
The Impact of Seasonality on Hotel Revenue
Seasonality is a crucial factor that significantly influences the revenue of hotels. In the hospitality industry, demand fluctuates throughout the year due to various factors such as weather, holidays, events and travel patterns. Understanding and effectively managing the impact of seasonality on hotel revenue is essential for hoteliers to maximize revenue, optimize operations, and deliver exceptional guest experiences. Let us now explore the key aspects of seasonality and its profound effects on hotel revenue. The Nature of Seasonality in the Hotel Industry Seasonality refers to the recurring patterns of high and low demand that hotels experience throughout the year. It…