Though average daily rate in U.S. hotels continues to grow year over year, hotel operators are not so eager to increase room prices these days.
STR and Oxford Economics forecast ADR will increase by 1.9 percent this year and 2.2 percent in 2020.
While an increase is usually viewed as a positive, the joy is muted in the hotel industry. STR noted in August that inflation coupled with increasing room supply are outpacing the rise in hotel revenue.
Hotel operators are experiencing what STR calls “an absence of pricing confidence.”
So, you don’t want to increase your room rate but you need to make more money.
How do you do that? You upsell. You offer additional products and services to guests who have already booked at your property.
Think you do not have anything to offer besides a clean room and free breakfast? Think again. Generating extra revenue by upselling is possible no matter the location, type and size of your hotel.
In today’s episode Lodging Leaders talks to experts in upselling in the hospitality industry.
You’ll hear from Geoffrey Toffetti, president and chief marketing officer of Frontline Performance Group, and Jason Bryant, founder and CEO of Nor1.
They talk about the art and science of selling upgrades and when to engage the guest with offers. And they give tips on ways to increase incremental revenue that goes straight to your bottom line.
This is the second of a two-part update about people, campaigns and programs that are furthering the mission to promote more women into leadership roles in the hospitality industry. In this episode we touch base with Jagruti Panwala and Rachel Humphrey who are in top leadership roles at AAHOA, the world’s largest hotel owners association read more
A new study by McKinsey & Company and LeanIn.Org reveals that over the past five years Corporate America has made some progress in gender diversity, including increasing the number of women in leadership. Although that finding is promising, women remain underrepresented in business leadership across the board and continue to lack access to opportunities available read more