Hospitality executive, George Dfouni discusses the pros and cons the travel industry faces during a presidential election year.

The travel industry experiences a unique set of challenges and opportunities during a presidential election year. Uncertainty often surrounds economic policies, international relations, and global stability, influencing both consumer behavior and industry dynamics.

One primary factor affecting the travel sector is the economic policy proposed by presidential candidates. Debates over taxation, government spending, and overall economic direction can create an atmosphere of financial uncertainty. This uncertainty tends to make consumers more cautious about discretionary spending, including travel expenditures.

Furthermore, George Dfouni explains, international relations play a pivotal role in the travel industry. Political rhetoric and policy proposals related to trade agreements, immigration, and diplomatic relations can impact the ease and attractiveness of international travel. Changes in these areas may result in shifts in tourism patterns, affecting destinations that rely heavily on foreign visitors.

Security concerns also come into play during election years. Political campaigns often focus on addressing perceived threats, and discussions around national security can influence travel perceptions. Increased security measures or geopolitical tensions may lead to altered travel plans, with individuals opting for destinations perceived as safer or avoiding regions with heightened risks.

Government regulations and policies related to the travel industry can be subject to change during a presidential election year. Candidates may propose alterations to visa processes, transportation regulations, or public infrastructure investments, all of which can have direct consequences for the travel sector.

The state of the economy, particularly employment rates and consumer confidence, is another critical factor. A presidential election year can be marked by intense debates on economic policies, and the outcome of the election may shape the overall economic landscape. Strong economies generally contribute to increased travel as consumers feel more financially secure and willing to spend on leisure activities.

George Dfouni states: “It's worth noting that the travel industry is adaptable. While uncertainty may initially create a cautious atmosphere, once the election results are clear, businesses often adjust to the new political landscape. Clarity on economic policies, international relations, and security measures provides a more stable foundation for both industry professionals and travelers.”

Presidential elections also offer opportunities for the travel industry. Campaign events, rallies, and conventions attract large crowds, creating a surge in demand for accommodations, transportation, and local services in host cities. This influx of visitors can boost the economies of these areas and highlight the significance of the travel sector in supporting various local businesses.

In conclusion, George Dfouni adds: “The travel industry during a presidential election year is inevitably influenced by the uncertainties and debates surrounding economic policies, international relations, security concerns, and government regulations. While challenges arise, the industry also seizes opportunities presented by campaign-related events. Adaptability is key for both businesses and travelers as they navigate the evolving landscape shaped by the outcomes of the elections.”

Hotelier George Dfouni explains why Staying in a Hotel is a Superior Choice Over Airbnb

Introduction

The way we travel and find accommodation has been transformed by the emergence of the sharing economy, with Airbnb at the forefront. While Airbnb offers unique and often more affordable lodging options, George Dfouni argues that staying in a hotel is generally a superior choice for travelers due to factors such as reliability, safety, amenities, customer service, and regulatory compliance.

I. Reliability and Consistency

One of the primary advantages of staying in a hotel is the reliability and consistency it offers. Hotels are well-established businesses with standardized service levels, quality control, and professional management. When booking a hotel, travelers can expect a certain level of service, cleanliness, and comfort that is consistent across the brand or star rating.

On the other hand, Airbnb listings can vary significantly in terms of quality, cleanliness, and reliability. Each property is managed by different hosts, and the experience can be a gamble, with travelers often unsure about what to expect. While some Airbnb hosts are excellent, others may not meet the same standards as hotels, leading to inconsistent experiences.

II. Safety and Security

Safety and security are paramount concerns for travelers. Hotels are equipped with various safety measures, including 24/7 reception desks, security personnel, and surveillance systems. These features help ensure the safety of guests and their belongings.

George Dfouni further explains “In contrast, Airbnb properties may lack the same level of security. There have been numerous reports of security issues, such as break-ins and unauthorized access, in some Airbnb accommodations. While Airbnb has introduced safety measures, including host verification and property inspections, the standards and enforcement can vary, making it difficult to guarantee a secure stay.”

III. Amenities and Services

Hotels offer a wide range of amenities and services designed to enhance the guest experience. These may include swimming pools, gyms, on-site restaurants, room service, concierge services, and daily housekeeping. These amenities and services contribute to a more comfortable and convenient stay.

Airbnb, while it offers unique lodging experiences, generally lacks the extensive amenities and services that hotels provide. Most Airbnb listings do not offer the same level of convenience or on-site facilities. Travelers may miss out on the convenience of having access to dining options, fitness facilities, or daily cleaning services.

IV. Customer Service

Customer service is a vital aspect of any accommodation experience. Hotels are staffed with trained professionals who are available around the clock to assist guests. This high level of customer service includes attending to guests’ needs, providing information and recommendations, and resolving any issues promptly.

Airbnb relies on the hosts to provide customer service, which can be highly variable. While many hosts are accommodating and responsive, there is no guarantee of consistent and professional customer service. In cases where issues arise during a stay, travelers may find it challenging to get a prompt resolution.

V. Regulatory Compliance

Hotels are subject to strict regulatory standards and safety regulations. They must meet requirements related to fire safety, accessibility, and hygiene, ensuring that guests are protected and provided with a safe environment. Regulatory compliance in hotels provides peace of mind to travelers.

Airbnb operates in a more decentralized manner, and the regulatory environment for short-term rentals varies significantly from one location to another. This can lead to uncertainties regarding the legality and safety of Airbnb listings. In some cities, there are concerns about Airbnb properties operating in violation of local laws and regulations.

VI. Accountability and Liability

Hotels are accountable for their operations, ensuring that they maintain a high standard of cleanliness, safety, and service. They have liability insurance to cover accidents or damages that may occur on their premises. This accountability offers travelers protection in case of unforeseen events.

In the case of Airbnb, the accountability and liability structure is less clear. While Airbnb provides a host guarantee and host protection insurance, the coverage may not be as comprehensive as what hotels offer. The responsibility for ensuring safety and addressing issues falls more on individual hosts.

Conclusion

In conclusion, George Dfouni states “while Airbnb has revolutionized the way we find accommodation and offers unique lodging experiences, there are compelling reasons to choose a hotel over an Airbnb property. Hotels provide reliability, safety, consistent quality, extensive amenities, professional customer service, and regulatory compliance. These factors make hotels a superior choice for travelers seeking a secure and hassle-free accommodation experience.”

It’s important to note that the choice between a hotel and an Airbnb may depend on individual preferences and specific travel needs. Some travelers may value the authenticity and local flavor offered by Airbnb, while others prioritize the comfort, reliability, and peace of mind provided by hotels. Ultimately, the decision should be based on the traveler’s priorities and what they seek in their accommodation experience.

Facing Adversities in Life and Achieving Success

Facing Adversities in Life and Achieving Success

Life is a journey filled with ups and downs, challenges, and triumphs. It is a rollercoaster ride where adversity often plays a significant role in shaping who we become. Adversities, whether they are personal, professional, or circumstantial, are inevitable. They test our resilience, determination, and ability to adapt. However, it is not the adversity itself that defines us but rather how we respond to it. Through determination, perseverance, and a growth mindset, individuals can transform adversity into a stepping stone towards success.

Adversity comes in various forms and can strike at any time. It might be the loss of a loved one, a debilitating illness, financial hardships, failure in one's career, or any other unexpected life challenge. These adversities can be emotionally, physically, and mentally taxing. However, it is essential to understand that adversity is a universal human experience. No one is immune to it, and it is not a sign of weakness. In fact, it is often through adversity that individuals discover their inner strength and resilience.

Support systems are also crucial when facing adversity. Whether it's friends, family, mentors, or support groups, having a network of people who can provide emotional and practical support can make a significant difference. It's important to lean on these connections during tough times, as they can offer guidance, encouragement, and a listening ear.

Persistence is perhaps the most critical factor in turning adversity into success. It's easy to become disheartened when faced with repeated setbacks, but those who persist despite adversity are the ones who often achieve greatness. Persistence involves setting clear goals, breaking them down into manageable steps, and consistently working towards them.

In conclusion, facing adversities in life is an inevitable part of the human experience. Adversities can take many forms and can be emotionally, physically, and mentally challenging. However, it is not the adversity itself that defines us but how we respond to it. By accepting adversity, maintaining a positive mindset, developing resilience, seeking support, and persisting in the face of setbacks, individuals can transform adversity into a stepping stone towards success.

Throughout history, countless individuals have demonstrated the power of determination, resilience, and persistence in the face of adversity. Their stories serve as inspiration for us all, reminding us that even in the darkest of times, success is possible. As we navigate our own journeys, let us remember that adversity is not the end but a turning point on the path to greatness.

Hotel Brand?? hmmm

If Hermes opened a hotel, I think we would be able to guess accurately what it would be like. If Marriott, Hilton, Hyatt, or Intercontinental Hotel Group came out with a bag we’d have no clue because they simply don’t have a brand, they are simply a good piece of real estate with a logo. If I swapped the signage on a hotel at that price point you couldn’t tell if you were in a Marriott, if you were in a Hilton, or Hyatt, the lobby, the hallway, the room, I don’t know where I am. No brand.

What it means to have a brand is you’ve made a promise to people. They have expectations. If that is distinct you’ve earned something. If it’s not distinct, let’s admit, you make a commodity and you’re trying to charge just a little bit extra for peace of mind. The problem that these hotels have is sort by price. If I go online now to find a hotel it’s simple, sort by price. Why would I pay $200 extra to go a block or two away? I don’t.

The value of a brand is how much extra am I paying above the substitute. If I’m not paying extra, you don’t have a brand. When we think about what brands ought to do to move forward, the most important thing is to not worry about your slogan or your logo., it’s to worry about the substance, product and service that matters for people who care. Find the people who care, the smallest viable group you can live with, and figure out how to give them a product and service that matters.

My boutique hotel might charge double what other hotels might charge, for less. But it’s only less by their measure. It’s way more by the measure of someone who cares about the product, service, and value and how hip it feels to walk into our bar. They’re not investing in a room with like three power outlets or an unhealthy breakfast, they’re investing in throwing a party in a place where you also can sleep while you’re on the road, a place to be seen at, a place that employ people that will make you feel special.

My hotels and others few like it have a brand and this is the reason some people pay extra for.

Nurturing Harmony between Work and Personal Life

In the modern world, the ever-increasing demands of work and personal commitments often leave individuals struggling to find a harmonious balance between the two realms. Balancing work and personal life is not just a matter of time management; it is an art that requires careful consideration, adaptability, and self-awareness. Achieving this equilibrium is vital for overall well-being, as it not only enhances productivity and job satisfaction but also fosters healthier relationships and improved mental health.

One of the key aspects of maintaining a work-life balance is setting clear boundaries. Establishing designated work hours and sticking to them can prevent work from seeping into personal time and vice versa. Equally important is learning to say 'no' when overwhelmed with commitments, both at work and in personal life. Prioritizing tasks and knowing when to delegate can help prevent burnout and ensure that time is dedicated to meaningful pursuits.

Furthermore, technology, while facilitating connectivity and productivity, can be a double-edged sword in the quest for balance. Employing technology mindfully by limiting after-hours work emails or notifications can help individuals detach from work during their personal time and focus on cherished moments with family and friends.

Employers also play a vital role in fostering work-life balance. Companies that promote flexible work arrangements, telecommuting options, and family-friendly policies demonstrate a commitment to their employees' well-being. Providing employees with opportunities for personal growth, such as paid time off, sabbaticals, or access to wellness programs, can further contribute to a healthier work-life integration.

On a personal level, cultivating hobbies and engaging in activities that bring joy can serve as a healthy outlet for stress and aid in maintaining a sense of identity outside of work. Regular exercise, mindfulness practices, and spending quality time with loved ones can recharge one's physical and emotional batteries, leading to increased productivity when returning to work.

Moreover, communication and support within relationships are paramount in the pursuit of balance. Openly discussing the challenges of balancing work and personal life with family members and friends can lead to greater understanding and empathy. Encouraging each other to prioritize self-care and supporting one another's goals can create an environment of mutual growth and fulfillment.

In conclusion, achieving a harmonious balance between work and personal life is a continuous journey that requires constant evaluation and adaptation. By setting boundaries, leveraging technology mindfully, promoting workplace policies that prioritize well-being, and nurturing personal passions, individuals can strive for a fulfilling and sustainable balance. Cultivating an environment of open communication and support within relationships further contributes to the ultimate goal of leading a rich and satisfying life, both professionally and personally.

Remote Work - Pros and Cons

The Consequences of Remote Work: Transforming the Workforce and Redefining Productivity

In recent years, the concept of remote work has gained tremendous popularity, thanks to advancements in technology and a shifting global landscape. Remote work, also known as telecommuting or working from home, has revolutionized the traditional work model, allowing employees to perform their duties outside of the traditional office setting. While remote work brings about several benefits, it also has significant consequences that affect both individuals and society as a whole. This essay explores the consequences of remote work, ranging from its impact on work-life balance and productivity to changes in the job market and urban development.

1. Work-Life Balance:

2. One of the prominent consequences of remote work is its potential to enhance work-life balance. By eliminating the need for commuting, remote work allows employees to save time and reduce stress associated with daily travel. This newfound flexibility enables individuals to spend more quality time with their families, engage in personal pursuits, and maintain a healthier work-life equilibrium. However, it can also blur the boundaries between work and personal life, leading to longer working hours and difficulty in disconnecting from work-related responsibilities. Striking a balance becomes crucial to prevent burnout and maintain overall well-being.

3. Productivity and Performance:

4. Remote work has a significant impact on employee productivity and performance. Many studies have shown that remote workers often experience higher levels of productivity due to reduced distractions and increased autonomy. The absence of a physical office environment fosters individual focus and encourages self-motivation. Furthermore, remote work offers opportunities for individuals to create personalized workspaces that enhance concentration and comfort. However, remote work can also present challenges, such as potential feelings of isolation, lack of face-to-face interaction, and difficulty in collaboration. Organizations must adopt effective communication tools and strategies to mitigate these challenges and ensure optimal productivity.

5. Job Market and Skills:

6. The rise of remote work has altered the dynamics of the job market. Geographical boundaries are no longer significant barriers, as remote work allows companies to hire talent from diverse locations. This opens up opportunities for individuals in rural areas or regions with limited job prospects, creating a more inclusive job market. Moreover, remote work demands certain skills, such as self-discipline, time management, and digital literacy. Employees need to adapt to virtual collaboration tools and remote communication platforms to thrive in this new work environment. Upskilling and reskilling become crucial for individuals to remain competitive and relevant in the evolving job market.

7. Urban Development and Transportation:

8. Remote work has the potential to reshape urban development patterns and transportation systems. As more employees opt for remote work, the demand for office spaces in city centers might decline. This can lead to a repurposing of commercial real estate and a shift towards mixed-use developments. Additionally, reduced commuting can alleviate traffic congestion and decrease the strain on transportation infrastructure. However, these changes may also pose challenges for businesses that rely on in-person interactions and networking opportunities that thrive in urban environments. Balancing the advantages of remote work with the need for social interaction and collaboration remains a critical consideration.

Remote work has far-reaching consequences that extend beyond the confines of traditional office setups. While it offers numerous benefits, including improved work-life balance, increased productivity, and expanded job opportunities, it also presents challenges such as maintaining work-life boundaries and fostering effective collaboration. To harness the full potential of remote work, organizations and individuals must adapt to the changing dynamics, acquire new skills, and prioritize strategies that promote well-being and productivity. As remote work continues to shape the future of work, careful consideration of its consequences is essential to ensure a balanced and sustainable work environment. #remotework#work #business #productivity

Investing in the Hotel Industry

Investing in the hotel industry can be a lucrative venture for those who are willing to put in the time and effort to research and understand the market. With the right approach, investors can capitalize on the ever-growing demand for travel and hospitality services, and benefit from the stable returns that the industry can offer.

The hotel industry has been growing steadily over the past few decades, with tourism and travel becoming more accessible and affordable for people from all walks of life. This has led to an increase in demand for hotel rooms, especially in popular destinations such as major cities, tourist hotspots, and business hubs.

One of the main advantages of investing in the hotel industry is the potential for steady and predictable returns. Unlike other industries that may be more prone to economic cycles and market fluctuations, the hotel industry has a relatively stable demand for its services. People will always need a place to stay when traveling, and hotels can offer a convenient and reliable option for both leisure and business travelers.

In addition to stable returns, investing in the hotel industry can also provide opportunities for capital appreciation. This can occur as a result of a number of factors, including improvements in the quality and reputation of the hotel, strategic marketing and branding efforts, and the expansion of the hotel's services and facilities.

There are a number of different approaches to investing in the hotel industry. One option is to invest directly in a hotel property, either as an individual investor or as part of a group or syndicate. This can involve purchasing a hotel outright, or investing in a partial ownership stake through a real estate investment trust (REIT) or other similar structure.

Another approach is to invest in the shares of a publicly traded hotel company. This can provide exposure to a diversified portfolio of hotel properties, and may offer more liquidity and flexibility than direct property ownership. However, it is important to carefully research and evaluate the financial health and performance of the company, as well as its management team and competitive position in the market.

Regardless of the approach taken, it is essential to conduct thorough due diligence and analysis before making any investment decisions in the hotel industry. This can include researching the local market conditions and demand drivers, evaluating the quality and reputation of the hotel property or company, and analyzing the financial performance and projections of the investment.

Another important consideration when investing in the hotel industry is the potential risks and challenges that may arise. These can include changing market conditions, shifts in consumer preferences and behavior, regulatory and legal issues, and unexpected events such as natural disasters or pandemics. It is important to have a comprehensive risk management strategy in place to mitigate these risks and protect your investment.

In conclusion, investing in the hotel industry can offer a range of benefits for savvy investors who are willing to do their homework and carefully evaluate their options. With the right approach and a thorough understanding of the market, investors can benefit from stable returns, potential capital appreciation, and exposure to the growing demand for travel and hospitality services. However, it is important to approach any investment in the hotel industry with caution, and to carefully evaluate the risks and potential challenges that may arise.

What Makes You A Successful Business Leader

Becoming a great business leader is a journey that requires a combination of qualities, skills, and experiences. A leader is someone who inspires and motivates their team to achieve a common goal, and a great leader is one who does this consistently and effectively. In today's rapidly changing business world, great leaders are needed more than ever, and with the right mindset and approach, anyone can become one.

The first quality that a great business leader must have is integrity. Integrity means doing the right thing, even when no one is watching. A leader with integrity is someone who is trustworthy and honest, and who sets an example for others to follow. This quality is essential in building and maintaining a strong relationship with employees, customers, and other stakeholders. A leader who lacks integrity will quickly lose the trust of their team and will find it difficult to achieve their goals.

Another important quality of a great business leader is vision. A leader must have a clear and compelling vision of where they want to take their business and how they plan to get there. This vision should be communicated to the team in a way that inspires and motivates them to work towards its achievement. A leader with a strong vision is able to make difficult decisions, as they have a clear understanding of their ultimate goal.

In addition to integrity and vision, a great business leader must also be a good communicator. Effective communication is key to getting the most out of a team, and a leader must be able to articulate their ideas and plans in a way that is easy to understand and follow. A leader must also be an active listener, and should be willing to listen to the concerns and opinions of their team. This not only helps to build trust, but it also allows a leader to make better decisions, as they have a better understanding of the perspectives of those around them.

A great business leader must also be able to lead by example. This means that they must be willing to do the things they expect of their team, and must be willing to work hard and make sacrifices when necessary. A leader who is not willing to put in the effort themselves will find it difficult to inspire and motivate their team to do the same.

Finally, a great business leader must be adaptable and open to change. The business world is constantly evolving, and a leader must be able to change and adapt to meet new challenges and opportunities. This means that they must be willing to learn and grow, and must be open to new ideas and perspectives. A leader who is stuck in their ways will quickly fall behind, and will be unable to achieve their goals in a rapidly changing business environment.

In conclusion, becoming a great business leader requires a combination of integrity, vision, communication skills, a willingness to lead by example, and an openness to change. These qualities, along with hard work and dedication, can help anyone become a great leader who is able to inspire and motivate their team to achieve great things. By adopting these qualities and continuously working to improve, anyone can become a great business leader who is able to make a real difference in the world.

NYC Hospitality Industry Needs Business As Usual

There’s no question about how the COVID-19 pandemic impacted the workflow of millions of business people around the globe. People were sent to work from their home offices or kitchen counters and video conferences replaced in-seating meetings. While this shift definitely took some adjusting, it appears as though a large portion of the U.S. workforce is now clinging to the concept of working from home permanently.

In fact, according to sources cited on USAToday, a large portion of those who have been working from home for the past year indicated they would quit their jobs if forced to return to the office. The fact of the matter is that there is more at stake involving the concept of business people returning to the office than their convenience and comfort. 

 While many are enjoying flexible hours from home, there is a whole industry that continues to suffer after the pandemic. Hotels throughout New York City have been severely impacted by the lack of business travel and tourism throughout the city. To remedy this situation, here are our thoughts on the importance of business people returning to their office towers and why it’s better for companies to require their employees to return.

Nothing Beats In-Person

It’s understandable why many business people across New York City, along with the rest of the world, have grown to enjoy the concept of working from home. However, many reports have indicated that work-from-home productivity over the year has dropped since the first few months of the pandemic. 

 As discussed on Forbes.com, it is possible that workers fell into an initial “panic productivity” phase once their work environment changed. Then, once the rush wore off, many shifted into a less motivated state when the rush wore off. 

 Employees are more productive when surrounded by their peers and supervisors where they can feed off of each other’s energy and feel the healthy pressure of in-person feedback. In addition, business outings such as educational and celebratory gatherings at hotel conference rooms  are also known motivators to build workplace culture and employee buy-in.

Irreplaceable Benefits of Business Travel

There is no hiding the fact that the hospitality industry was hit the hardest when businesses sent their employees home and all business travel ceased. While it may be saving businesses quite a bit of money to not send their employees on business trips, it is quite possible that they are losing out on the value that business travelling brings to the company.

 Business people who were regularly sent on business trips reported that business travel was one of the major perks of their job. Not only were they able to see new places and break up the monotony of a normal office day, but they were also afforded exclusive opportunities through the process of meeting new people face-to-face. 

Resuming business travel not only offers endless benefits to companies, but it would also be a sure way to kickstart the economy. Suffering hotels have had to downsize staff and even raise their prices in an attempt to survive the pandemic. Receiving a regular flow of business travelers would reverse those negative side effects. 

Tourism Will Follow

 Allowing business people to work from home indefinitely would be detrimental to the hospitality industry and the economy as a whole. From chefs and concierge professionals to maintenance workers and technicians, hotels pay the checks of a wide variety of professions. As you can imagine, hotels shutting down permanently would massively contribute to unemployment rates.

 Now that we know more about COVID-19 and much of the world is now vaccinated, it is becoming more safe for business people to return to office and continue normal business travel operations. Business travel will always be seen as more essential than tourism travel. However, tourism travel is sure to pick up again once the world becomes reaccustomed to staying in hotels, flying planes, meeting in conference rooms, etc. With the proper precautions, the business world is ready to return to normal.

Hotel Revenue Management: How can you increase the revenue of a Hotel?

Hotel revenue management is an important part of this business industry, as adjusting the prices according to the guest pattern is the core part of this business because optimal price rates mean more customers which will cause a raging increase in the business profits.  

But the thing that makes revenue plan more successful is to have full information, good planning tips but more importantly, the revenue strategies play the main part because it makes you more clear-minded and concentrated. Following are the best and profitable hotel revenue management strategies that can make your hotel business shine. Following are some of the best and profitable hotel revenue management strategies that you can adopt for effective outcomes for the hotel.

What is exactly is Hotel Revenue Management? 

Revenue management is a very important subject in hotel management as it acts as a profitable strategy for the economic status of the hotel. The whole revenue management discussion can be shortly summarized by this famous quote that is “All a revenue manager needs to accomplish is to sell the right room to the right person at the right time and price through the most suitable platform”. 

In even simpler words, revenue management is a procedure through which you introduce the best and preferable price rates according to the requirements of the customers so that they can make the most sales and profits. The best way to put together your revenue strategy is by going through the data analytics, customer performance, older price distribution so that the hotel management team can come with better prices and ideas which will help you maximize the revenue and hotel business.  

Also, the revenue strategy does not depend upon one kind of customer, you have to plan it by keeping that a larger community with different values will approach your hotel and you have to make them convince of the revenue strategy.  

Hotel Revenue Management Strategies

Here are the best hotel revenue management strategies that can benefit you for the best and optimal results and statistics: 

·      Proper communication means: 

Communication is essential when you are in a business where the core part is people reviews and demands so, having a messaging box is very necessary that should be open all the time so that people can engage with you without any kind of distribution or interruption. This revenue strategy helps the customer to get every kind of detail on the new and updated strategy so that they can experience it.  

·      Targeting strategy: 

Targeting the audience is a very well-known revenue strategy as it helps you to get to know what type of guests you are going to have and to deal with so that you can develop the revenue management plan according to guest requirements so that you can have a better result in sells and profits of the hotel business. 

·      Do direct bookings

The direct booking strategy is one of the successful ones as it assists you to deal with the customer's hand to hand rather than a third party like an OTG platform because they keep a commission and also it not let you stand alone as you always have to be dependent. So, when the customer does direct bookings via your hotel website, it helps you with better profits and response.  

·      Programs to increase repeat guest arrivals: 

Loyalty programs are a thing that hotel owners take very lightly, but it can be a very good reason for a successful revenue management plan as it enables you to make gestures for the guests like customizing gifts, sales, discounts, special entrance drinks, etc. it makes the guest happy and satisfied with your hotel services.  

This strategy makes the old guest and also the new ones come again and again after seeing such good and sentimental loyalty programs.  

·      Active hotel websites: 

Nowadays, people are more active on their smartphones rather than checking paper or even tv so, it is best for the hotel to have an online website where they can showcase their hotel, the revenue plan, and the services they provide so that people can interact with them. This hotel management strategic plan helps you to engage with the customers globally and locally which will increase the hotel revenue even more and the customers also have every information about your hotel which enables them to trust you and choose your hotel.  

·      Develop an online reputation: 

Having an online reputation is very significant nowadays, as we all know how today’s world work today, we do everything online, likewise, most people now do the online booking as it is convenient and they can get all the information regarding the hotel services and offers through reviews and websites. 

So, having a good online reputation is very important, make your old customers give reviews and ratings about their experience, etc. so that the new customer can make their decision easily which will affect the success of the hotel revenue management plan as well.   

·      Work in cooperation with other departments: 

It is important to involve other departments such as sales and marketing, art team, etc. so that everyone can corporate in developing the hotel revenue so that it can be suitable to all and the whole hotel staff teams can be agreed on the revenue. This strategy helps you to gather more ideas from the hotel staff through various perspectives which can be helpful throughout the revenue procedure. 

·      Do a calendar checkout: 

Do a calendar checkout means to know about all the events and festivals that are coming, also that events related to other areas and countries so that you can develop the revenue strategy revolving around those specific dates so that you can able to attract more travelers and visitors that time around.  

·      Pay attention to reviews: 

Reviews are very important for a good hotel image and the customer usually lookout for the reviews before doing bookings as they want to know what other people have to say about your hotel management services so it is important to get reviews from your previous customers and also pay more attention towards them which can result in more hotel room sells and optimized revenue.  

·      Include local business partnerships: 

This is also a very unnoticeable strategic plan but it is very effective in having a more enhanced revenue management plan as to when you include or do partnerships with local businesses like tour guides or amusement park owners, you can offer discounts on the tickets which can get the attention from the customers which will directly have a positive impact on the revenue plan.  

·      Do SEO optimization: 

Search engine optimization plays an important role in almost everything nowadays, because people are more aware of what is happening online rather than physical and SEO is a technique that is making the work easy for brands and businesses to stand out so that people can approach them and use their services. 

So, your online hotel website must be fully SEO optimized which will result in more traffic and customers to reach your revenue strategy and help you to increase the hotel earnings.  

·      Competitor Analysis:

It is very important to do a competitor rate analysis as it helps you to check what other hotel owners are offering so that you can develop such rates that are attracting the right customers and succeed in earning the best revenue. You can update the rates chart by what the competitors are offering which will create a clear image of what to add and what to avoid in your hotel revenue management plan.  

·      Understand the value market: 

The most important thing about revenue management strategy is the price value because it is all the matters. After all, the customer is only going to judge your whole hotel service depending upon the price you offer. So, be good with knowing the value market and also to develop in regards of that so that you can offer the best of the best to your customers. 

Why Revenue Management is Significant in the Hotel Industry? 

Revenue management sets the core for profitable business plan for the hotel which means it is very important for the hospitality industry to have and to acquire as; 

·      Through revenue management, you can manage the selling costs as in, you can calculate them according to the demand and related factors like season time, the number of travelers, etc. and can lower them when the demand is low. That is how the hotel resources and staff will be optimal used when there is the proper need not when the things are not required. 

·      The best thing about this specific management scheme is that it helps the hotel owner and team to understand what their customer demands and wants rather than just anticipating and thinking on their own. The customers appreciate the hotel service, even more, when they know that they take their requirements seriously and put them to actual work. 

·      Revenue management enhances the hotel branding, it not only assists you to get the best pricing rates for the property but also makes sure that the maximum RevPAR for the hotel.  

·      When you have revenue management that is formulated by going through all the details very preciously like previous data analysis, customer preferences and reviews, season time, etc. You can have a revenue plan that will not help you with the best business but also win against the competitors which are important when you are in such an industry where the competition is always at high stake.  

·      You can also extend your business when you know that the revenue strategy is going well and the profits are high. 

Tips to Enhance your Hotel Revenue Management Strategy: 

Here are some tips that will help you to optimize the hotel revenue management strategy for effective and efficient outcomes: 

·      Accumulate the right data: 

Data collection is the most important step in developing revenue management as it helps you to calculate the price rates and strategic plans but the common mistake that most hotel owners do is collecting more information than needed, so they end up with a messed-up revenue plan. So, it is best to focus on the right data that will assist you to have the right revenue and right demands.  

·      Do mapping and location research: 

When you develop a revenue strategy, studying mapping and forecasting is a need as it further helps you to have a perfect plan that will attract the desired guests and customers for your hotel. It also gives you an idea about the traveler's perspective from where they are coming and what they want where they are going to stay, so it depends upon the information regarding the locations and mapping. 

·      Embrace pricing strategies: 

Pricing is the major part of revenue so having a proper strategy about it is very much required. So, try to embrace the pricing strategies as much as you can and formulate such strategies that are easy to manage according to what the customer wants and has to offer.  

·      Focus on the distributing channels: 

Having a good revenue strategy is not enough until people are not well aware of it and it is obvious if they do not know about it, then how they will reach out to you. So, focus on the disturbing channels like having a proper hotel website and various channels like online accounts on various sites so that people can know what you are offering and how they can reach you.  

·      Learning about the market: 

You cannot develop a revenue management plan unless you study the market so that you can know what the rates that are going around are and how the customers are reacting to it. So, a revenue plan with potential can only be formulated after doing full homework about what is going in the market at present.  

The Bottom Line

Hotel revenue management is a new technique or strategy that is being very profitable for the hotel industry which is proven by the higher statistic rates and improved selling profits. With this evolving world, the booking patterns and guest demands are changing every moment, so strong and valuable revenue management will make your hotel business more enhanced and successful.  

This management strategy is not anymore just a basic plan for the hotel but now it is imperative and crucial to have for optimum financial benefits and improved hotel reputation. This hospitality industry is getting bigger day by day so, having revenue management will surely make you stand out in the crowd.  

How to Be a Successful Leader

As we gain experience, build businesses, and earn responsibilities, we have no choice but to increase our leadership skills. Every organization needs a leader to direct the charge for successful execution. But how can you be a good leader?

You might be eager to lead or you might be reluctant. But everyone who is faced with influence has to decide what kind of leader they will be.

The best leaders serve others. Servant leadership inspires more people, gains more influence, and respect, which all turn into a successful leadership model.

Put People First

When we think of serving others, we might think of being polite or asking how we can help. But we have the opportunity to dig into a deeper level of leadership that puts people first.

This means knowing each person’s short and long-term goals for their life (with and without the company in the picture). You support them. You listen to them. People feel valued at the company and they feel you care for them.

This practice creates a vibrant workplace for great results.

Lead with a Vision

How can people follow if they don’t know where to go? Putting blinders on people doesn’t help them and it makes it harder for you to lead. One-step-ahead leadership produces an insecure work environment, not knowing the main goal of the company.

By being transparent and sharing the vision, people know what you plan on doing. They too get inspired and take a sense of ownership. If leaders position their vision as a WHY, or a big- picture mission, employees will take it to heart.

For example, if a brand sells mattresses, they aren’t selling better sleep. They are giving people much-needed rest so that can wake up, conquer their world, and give their full self to their families and careers. That’s something people can believe in and feel like they make an impact.

Lead like a Teacher

As leaders, we often say things and hope others understand them well enough to implement them. If you have ever taught a class or group, you know this usually doesn’t work.

Lead like a teacher by teaching or sharing the information, then show them how to do it, then do it together, and ultimately, give them the freedom to do it themselves. Provide feedback to improve and reinforce their effort.

Give Away Authority

Delegation can mean a lot of things. You delegate too little and get overwhelmed. You delegate too much and seem to lose control. You are too hands-off in management or too hands-on. It’s a balance that is hard to get right.

Instead of delegation, think in authority. Don’t give away roles. Give people full reign over their responsibilities within the boundaries you set.

You have a team that was chosen for a reason. When you layout guidelines and establish clear expectations, let them run with the mission, using their creative and innovative ways to solve and execute the project.

They will take ownership of it and treat the responsibilities given to them as their own.

George Dfouni truly believes Leadership is about people. When we put this at the center of everything, we can be successful leaders.

Virtual Is No Longer the Answer: Hospitality Looks to Hybrid Solutions

When the pandemic hit the industry, everything shook. The U.S. lost 4 million jobs in hospitality. We were one of the most vulnerable: an industry that prides itself on great service and personal interaction. Thanks to the amazing workforce, our grit, and perseverance, we made it through. 

The companies that fared the best in the beginning were already involved in innovation and forward-thinking processes. Most of these had virtual solutions. Their successful virtual strategy took off and grew. What was their advantage? They innovated before they needed to.

These virtual businesses already had customers and guests that were familiar with the process. Unlike many companies during the pandemic, they did not have to educate customers or train staff on how to use it. They didn't need a new marketing campaign to notify the market. They benefited from future-thinking strategies.

Today, virtual is no longer the future. It is expected and if your company is not utilizing the technologies available, now is the time to catch up before it’s too late.

In 2020, Americans spent 7 minutes more on average on social media, despite a concern they were spending too much time on it the  year before. The attitude of "time well spent" and needs are changing. People want physical interaction and virtual solutions that are on-demand and integrated. 

Hybrid solutions give guests the option for physical and virtual interaction harmonized together.

“Business opportunities are like buses, there’s  always another one coming.” – Richard Branson

   What This Means 

Imagine you are hosting a conference for business leaders. 

You have limited occupancy at the convention center . People are restrained by time and location. But people also crave localized and intimate interaction, so you have it available. You also have a virtual option which multiplies your occupancy.

Now imagine a hybrid setting. Someone walks into the conference and meets people. They quickly get connected to a Slack channel where they can easily chat with people at the center or far away online. They hear the main speaker give her talk. During breakouts, you go to a designated area and join a virtual session with people on-site and people from all over the world. 

Anyone who has disabilities with additional on-site needs can easily get captions and aids through the virtual technologies available. 

When you visit some of the sponsored booths, you see something you like. Perhaps you have more detailed questions that the representative can’t answer right away. No problem. They give you a tablet that video calls one of their specialists. You save time and can make the best decision. 

You walk away and see some merchandise. You want it but your luggage can barely close. So you scan a QR code, purchase it, and it arrives at your home in three days.

Your colleague joins you virtually because she’s had to travel for business to manage one of your accounts. She has a great time and wants to meet some of the attendees in person. She uses a localization feature that connects her with virtual attendees in the same city. The following day they meet at a coffee shop and finish the conference together. 

How We Can All Utilize Hybrid Solutions

“There is incredible value in being of service to others .” Elizabeth Berg

Now you have a quick idea of what the future could look like. Many brands are already doing it and the technology exists. The only step is to invest in the strategy, resources, and training to make it possible. 

It’s important to start simple. We don’t want to create fancy features and options without a purpose. Decide what your guests need and how you can fulfill it from wherever they are and whenever they want it. 

The world has changed. Before the pandemic, most of us closely interacted with people. The pandemic put everyone home and much of the workforce moved into work from home environments. Today, social preferences are split, and needs and habits have changed for society.

A hybrid strategy positions us for the future.

Five Ways the Hospitality Industry Will Change Post-COVID-19

Last March, the hospitality industry took a dip that couldn’t have been anticipated. Suddenly, no one was traveling, and trips that had been on the books for months were off indefinitely. Over a year later, countries around the world are beginning to lift their travel bans, and while the world hasn’t returned to “normal,” we are beginning to see how hotels and others in the hospitality industry are reacting to the pandemic. 

In many cases, the changes we’ve seen over the last year may be here to stay. Let’s take a look at how 

1.    Local travel will be favored over international travel 

If you’ve considered a “staycation” or domestic travel in the last 12 months, you’ve hopped on this trend. For the next few years at least, international travel will not appeal or be available to certain groups of people. Americans, in particular, are not permitted entry to over 100 of the world’s countries at the moment. While it is possible to enter countries under certain restrictions, it is often easier and safer to default to domestic travel. 

2.    Contactless is now everywhere

Staying at a hotel is a drastically different experience than it once was. Avid travelers were accustomed to visiting the front desk and having contact with hospitality personnel through nearly every stage of the process. However, to promote social distancing and elevate property-wide hygiene, hotels have rolled contactless programs. If contact between guests and employees can be avoided, it will be. In many cases, this means using an app to check-in, get your key, or request services. 

3.    Road tripping has become ever more popular

Road tripping spiked in popularity last summer. People still wanted to “get away,” but they did not want to board an airplane or any other form of communal transport. Using a personal vehicle opens up the world and allows anyone with a car to explore the world and personalize their trip during this period of uncertainty. 

4.    Sustainable travel will be prioritized

Do you remember the first few weeks during the pandemic last year? No one was commuting to work or flying across the world, and carbon emissions were at an all-time low. The positive impact of this on the environment was so significant that it made national news. As travel makes its come back, sustainable travel will undoubtedly be a priority. Hotel and other hospitality organizations will prioritize sustainable measures and regulations for an eco-friendly future. 

5.    Traditional tourism will be discouraged

The hospitality industries are now encouraging anyone who will be traveling to dive into off-the-beaten-path destinations. Instead of Athens, Barcelona, and Rome, try Thessaloniki, Zaragoza, and Padua. These alternative destinations in the world’s most popular countries will help reduce over-tourism and crowding in urban hotspots. 

Final thoughts

We’d be lying if we said hotels and hospitality would return just as they were pre-COVID-19. The pandemic has made its mark on modern times, and it’ll continue to impact how we act and travel for years to come.