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  • businessworld304
  • rvwltd
  • Must-Read Tips For A Window Replacement Project - https://bit.ly/3e6gz9E
  • BezlaLLC
  • Top 5 Common Misconceptions in Hotel Revenue Management March 8, 2021|Hotel Marketing The hospitality industry is a very aggressive and competitive field. To remain ahead of the pack, know the businesses you are up against--what they do, how they do things, and what their weaknesses are--because this information will help your decision-making process. By considering your competitors' mistakes and failures, you can spare yourself from committing the same errors. As the famous saying goes, know your enemy and know yourself, and you will always be victorious. But to achieve victory, you must avoid the following missteps: 1. Using the wrong metrics Setting specific metrics to measure the business' performance is indispensable in any field of trade. It can provide reliable data which you can use in making important decisions. However, always keep in mind that not all businesses are equal. Not even hotels under the same chain are the same. In making comparisons with other hotels, you must consider the market segment that you are serving. Only use comparable metrics that you can directly measure against each other. Comparing metrics like revenue per available room (RevPAR) and average daily room rate (ADR) is a common mistake when comparing hotels. Instead of putting them against each other, you need to understand how they work together to boost the business' performance. 2. Keeping outdated systems Many businesses today are highly successful with the help of modern technologies and advanced systems. Being up to date is something that you should be open about if you want your business to stay and thrive in the industry. Don't allow your hotel to be left behind. Stay on top of the newest developments in equipment and systems. Understandably, upgrading and improving can sound menacing and bothersome in the short term. But it's no reason to keep using obsolete methods. Not improving now costs you much more in the future and in the long run. Now, in getting newer and more modern systems in place, you must also learn their features and maximize their use to help the business. Nowadays, the latest platforms, software, and equipment come with innovative programs that can be very practical when suitably used. Utilize them to measure how effective your marketing strategies are and efficiently gauge how well your hotel is doing. Having all the advancements and not being able to use them to their maximum potential is a waste of resources. It simply becomes a lost opportunity to improve the hotel's performance. So, it is essential to adopt, understand and use the available technology as it is designed to be. 3. Avoiding third party booking sites Another thing that you need to avoid is staying away from third-party booking sites. While it is true that you get more significant profits in direct bookings, never underestimate what third-party booking sites can bring to the table. Many people now use online booking and rate-comparison sites when selecting the perfect hotel for them. Just imagine the opportunities your business loses every day if your hotel isn't on that list. The key is to set a perfect balance for these channels and never prioritize only one over the other. 4. Wasting time This is true not only in the hospitality industry but for all things in general—never waste time. Although self-explanatory, there are still many points to consider in making the most of your time. In running a hotel, there are minor concerns, and there are those that require more serious attention. Being the hotel manager, you are responsible for overseeing the business and maintaining its organized system. You must avoid wasting time on insignificant details and always remember to delegate when needed. Being the owner/manager, you need to have the ability to recognize the not-so-significant concerns from the more essential things that require focus. You are also accountable for ensuring that your marketing strategies are carried out while addressing trends and consumer demands. Likewise, to implement marketing strategies efficiently, you need to prioritize and learn how to let go of methods and practices that don't yield results. 5. Being reluctant to change Probably the most important thing that you should avoid is being hesitant and avoiding change. When you are not open to innovation and change, it is synonymous with refusing growth and improvement opportunities. Change may sometimes be seen as a risky gamble because it disrupts routine and puts you outside the comfort zone, but the truth is, there is more to lose in the future if you don't take that risk today. Not being willing to accept change is like saying 'no' to more income opportunities for the business. Changes in the hotel setting can be anywhere from changing the hotel rates, upgrading and improving to a modern booking and database system, renovating and rebranding, etc. Implementing changes in the organization must always be well-thought-of and are evidence-based. It must not be solely based on assumptions and guesses. Along with change, mistakes are bound to happen along the way. It is normal and should be considered an important part of the process. The key to making your mistakes work for your business is your ability to learn from past challenges and using them as bases for making well-guided decisions in the future. If you're looking for more tips on picking the right metrics for your hotel and what you can do to increase your property revenue, call us at +1-888-999-8086. Bezla.com LLC Website: https://Bezla.com LinkedIn: https://www.linkedin.com/company/bezla Phone: +1-888-999-8086 1800 JFK Blvd Suite 300 PMB 91649 Philadelphia, PA 19103 [more]
  • BezlaLLC
  • Top 10 Tips for Outstanding Hotel Revenue Management February 8, 2021|Hotel Marketing Starting a hotel and managing it is no joke. How about improving its performance and driving in revenue? If you're struggling to keep its performance in check and looking into increasing your revenue, here are ten tips for especially for starters: 1.Check your hotel teams' culture. Ensure that your staff is fully aware of your hotel's values. Let them know of your goals and your plans on how to achieve them. These should motivate them and urge excellent performance. 2.Find the right balance between human and technological resources. Remember that your guests will always look for the element of "human interaction." Be updated with technology while ensuring that you don't heavily rely on this one source. Find the balance between two resources and maintain it. 3. Added value. A lot of guests are price sensitive. Prospective guests might see any value-added extra as a big difference. Thus, always strive to provide exceptional customer service, food and beverage packages, free parking, and others. Keep and do what your website says and practice what you preach. 4. Consistently update your website. Set proper expectations for your potential guests. Ensure that media uploaded and written content is updated. More hotel website tips at www.bezla.com/blog. 5. Other distribution channels. Some guests don't go through your website but instead use distribution channels that is usually the case for smaller independent hotels. To ensure the increase of your revenue, look for channels that best fit your hotel; check out their cost, the marketing opportunities they provide, and the technology they use, and do consider how it's apt to your current management systems. Try not to be too tied up with long-term contracts too. 6. Handle direct bookings. This is the total opposite of other distribution channels. Try to grow your own direct bookings because this is more affordable and drives secure customer loyalty. Through this, you can help avoid guests seeing competition other than your own hotel. Most commonly, this is done by hotels through offering discounts on food & beverage offerings, reservations, and futures stays to guests who book with them directly. Check out tip 3 for other things you could offer to your guests. 7. Forecasting demand. Make time to forecast your hotel's costs, needs, and revenues for better planning of your hotel's demand. In addition, this can greatly aid your future marketing decisions. 8. Keep a good record of sales data. Following all the other tips in this list is of no use if you’re not following this one. This is very important to power up the performance of your hotel. Ensure to focus on your quality instead of quantity and contemplate on how it’s going to be recorded and used so the storage of this information is well viable. 9. Consider consumer behavior of guests. Keep up with your guests' current trends and consider these trends when you make big decisions. Consistently monitor your booking process and your guests' demographic trend movements. Also, add in a personal touch by reading your guests' reviews and responding to them. Listening to your guests' feedback or suggestion can greatly help you to improve thus, drive in more bookings and revenue. 10. Always consider your return on investment. Keep in mind what you wanted to attain when you started the business. Do not lose touch with your primary goals and frequently look at key performance benchmarks and make sure that your hotel is at one pace forward. Now, these aren't the only tips you can follow as this isn't complete but these are for starts to help you out in improving your hotel's performance and again, driving in revenue. If you are looking for ways on how to market your property more efficiently and beat the competition, we can be of help. You may reach us at www.bezla.com or you can give us a call at 888 999 8086. Bezla.com LLC Website: https://Bezla.com LinkedIn: https://www.linkedin.com/company/bezla Phone: +1-888-999-8086 1800 JFK Blvd Suite 300 PMB 91649 Philadelphia, PA 19103 [more]
  • Quaghamor
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  • BezlaLLC
  • How to Market Your Hotel with Innovational Concepts January 25, 2021|Hotel Marketing Even if a hotel is already doing well, it’s always a good idea to introduce innovating concepts to the market. Doing so takes the business up a notch and makes sure that it has something unique that sets it apart from others. Coming up with new ways to be different and becoming a trendsetter in the industry can pave ways for greater opportunities. It is understandable that at first, it may seem like experimenting and coming up with new innovations will only add up to higher expenses. Yet, if you think about it, by not taking that chance, you are passing up on the opportunity to be at the forefront. By not taking action today, you are essentially allowing other businesses to come up with it later. If you don’t do it now, one way or another, another business will. In this industry, it is very important to stay ahead of the race. It does not pay to be a mediocre hotel. Before backing out on the idea of innovating, always consider how much you would be losing in the future by being left behind, while your competition jumps on every opportunity to innovate. Having a unique selling point gives any business a head start. Often, it has something to do with where the property is located. However, a reality that you have to acknowledge is that not all properties are in prime locations. But this also doesn’t mean that they should stay behind and perform less. Here are a few tips on how to innovate your business from being a common, ordinary hotel, to a top-drawer choice for guests: Start with having a specific goal What exactly do you want to achieve from the innovation you’d like to introduce? Contrary to common belief, innovation does not always mean you have to spend money. Anything you introduce to provide a better experience for your guests can be considered an innovation. Some hotels focus on making their guests’ stay extremely memorable that there is no need to spend anything on advertising. A remarkable hotel stay is one of the finest selling points that you can have for your business because it practically sells itself. It literally costs nothing, and in today’s age of social media, it is the easiest way to get the word around. Not only are your previous guests sure to return, they are going to make reviews and recommendations to other people, organically creating a bigger pool of potential clients. As you know, word-of-mouth is a very powerful thing in business. And you can never go wrong with having excellent service in your foundation. Consider individual-based service Excellent service comes in many forms. This is because there are different kinds of clients, each with different sets of needs, and it is extremely important to consider these things in laying out your plans, including your staff’s training. A very personalized approach in attending to your guests can create a favorable impression and give them a memorable experience. It can make them feel important and taken care of, and who doesn’t want that? Anticipate issues and have a ready solution Always put yourself in the guest’s shoes. If you were a guest in your own hotel, what kind of accommodation would you have wanted and what personalized service would you have appreciated? It is crucial to have a clear vision of the many possible scenarios and issues that a guest might find himself in, and have a ready solution even before the need arises. Anticipating all potential concerns and being prepared is unquestionably better than having your client flag you for one, and not having an immediate resolution. Know your clientele Are they mostly business people who come in from long flights? Do you get a lot of foreigners who might not be English speakers? Do you market yourself to students or backpack travelers? These are examples of useful questions to start with. These are the kinds of questions that can help you address their unique and individual needs. A good example is handing out complimentary drinks to guests. This service is not uncommon anymore. In fact, it has become a standard in most, if not all hotels. One might think handing out complimentary drinks should be enough to make guests feel welcomed. Actually, it is not. Knowing who your guests are can make a big difference in your client’s experience. It can give you a better clue on what kinds of drinks they would prefer and appreciate. For many customers, these little personal details count and add up to the overall favorable experience that they will remember about their stay. Think of large-scale innovation While paying attention to the smaller details of your customer experience is essential, looking at the big picture and coming up with a service that solves a bigger problem is also important. Large scale innovations usually involve offering a solution to a problem that goes beyond the individual needs of a guest. A perfect example would be the introduction of capsule hotels in Japan in the late 70's. This innovation hit two birds with one stone by solving the problem of having limited building spaces, and catering to guests who choose to be practical and efficient. It has since been a hit not only in Japan but in other countries as well, proving that the introduction of this innovation indeed solved a big-scale problem. Our communities are dynamic and constantly changing. Over time, as people evolve as a community, there will always be a need for something new and different. This means there is always a window of opportunity to introduce an innovation in your business. If you are looking for ways on how to market your property more efficiently and beat the competition, we can be of help. You may reach us at www.bezla.com or you can give us a call on 888-999-8086. Bezla.com LLC Website: https://Bezla.com LinkedIn: https://www.linkedin.com/company/bezla Phone: +1-888-999-8086 1800 JFK Blvd Suite 300 PMB 91649 Philadelphia, PA 19103 [more]
  • olivialewis790
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  • BezlaLLC
  • Revenue Management Tips on How to Increase Hotel Income & Profit November 16, 2020|Hotel Marketing Here are general tips on how to improve the hotel’s revenue: 1. Monitor the hotel’s unconstrained demand The hotel’s unconstrained demand refers to an estimate of the total demand of the hotel. It measures how many rooms can be sold in a given day if the hotel had totally unlimited capacity. For example, when demand is high, such as Christmas, the hotel’s unconstrained demand will likely be higher than the hotel’s capacity. This means one can increase their prices to maximize revenue. 2. Forecast overall demand Another way to increase hotel revenue is by forecasting overall demand. By predicting how many guests the hotel is likely to receive, management can plan ahead and change their prices. If last year, the demand increased during a certain period, management can learn from this and increase their prices accordingly. It’s alright to make mistakes at first, as long as management learns from it, as this will help optimize the hotel’s revenue in the long-term. 3. Turn unused spaces into more efficient rooms If the hotel has unused spaces or spaces not used to its full potential, such as meeting rooms or lobbies, management can think about turning them into co-working spaces or even turning the meeting room into a private events room. The possibilities are endless as there are many creative solutions available, depending on the hotel’s location, size, and type of guests that the hotel attracts. 4. Increase one’s knowledge of the hotel market Knowing the market is a necessity when it comes to managing a successful hotel. Management should identify the hotel’s unique selling points by analyzing strengths, weaknesses, and any new opportunities for the hotel. With this, management will be able to target the potential guests and attract them more. It is also important to stay in touch with the current trends of the market and be one step ahead of the guest’s needs and wants. 5. Diversify the hotel’s room types A hotel can attract many different types of guests, such as millennials and families, so it’s important for management to offer different types of rooms with varying sizes, functionalities, and layouts. Management can also change the room names to make them sound more appealing to different types of guests. 6. Cancellation policies If many guests cancel their bookings at the last minute, hotel profits will go down. Management can either choose not to allow cancellation or charge a fee for cancellation. Either way, it’s very important to reinforce the hotel’s cancellation policy, making sure the hotel can rely on the guests’ reservations. 7. Feedback and reviews The hotel’s reputation depends on the reviews the guests leave after their stay. Reviews are read by potential guests in the future, which means they have a big impact on the hotel’s demand. Answering these reviews, whether they are positive or negative, is a good way to improve the hotel’s reputation. It shows that the hotel management cares and acknowledges the opinions of its hotel guests. Hotel management should also apologize and professionally respond to the negative reviews, and more importantly, try to fix the issues raised by the guests. This will reassure the future guests that the hotel management is working hard in trying to make their future stay as enjoyable as possible. 8. Social media platforms Social media platforms are a great way to reach the potential guest. However, it is important to know how to use them by developing strategies and staying consistent. Once a platform is chosen, management has to decide when and what to post. The post should be scheduled according to the information the hotel wants to share. 9. Upsell the hotel Upsell the hotel by using the right tools. This will encourage the guests to spend a little bit more when they come to stay with the hotel - either online or in person. For example, management can offer room upgrades on the website or in the hotel reception desk as soon as the guests' check-in. 10. Cross-selling Similar to upselling, cross-selling will help the hotel to increase its revenue by offering complementary products to the guests, such as spa visits, excursions, and other activities, depending on the hotel's location and the type of guests that the hotel attracts. 11. Technology Lastly, utilizing technology is a great tool to increase the hotel's efficiency. For example, organizing reservations and managing revenues will be faster if the hotel uses the right systems. However, human interaction is still very important in the hospitality sector so hotel management should not over-rely on technology. In summary, these are just a few of the many ways the hotel can improve its revenue. Should you need assistance or more information, please do not hesitate to get in touch with us at support@bezla.com or calling 888-999-8086. #HotelMarketing #BeatTheCompetition #Bezla Bezla.com [more]
  • BezlaLLC
  • How To Increase Hotel Revenue in Low Season? | Hotel Marketing November 2, 2020|Hotel Marketing How do you manage the seasonality of your hotel occupancy? After the peak season will eventually come the off-peak season, which makes it more difficult to attract guests and reach maximum hotel occupancy. You will have to deal with this every single year. So here are great tips to help prepare for your hotel's off-peak season. 1. Rev up your digital marketing campaigns. Marketing is a great way to attract potential guests. During the off-peak season, think about extending the scope of your digital marketing campaigns. By so doing, you can reach more people and therefore increase your hotel revenue. For example, you can use neutral keywords, initiate targeted display campaigns, or use tools like Google Ad words. 2. Forecast your off-peak months. A great way to prepare for the low season is to determine precisely when it will arrive. Forecasting enables you to better prepare for your hotel management and reverse the low occupancy rates by knowing when the low season will happen. 3. Diversify your target guests. Your hotel might usually attract the same type of guests during the peak season. However, during the off-peak season, you cannot afford to be too selective. Target new guests through more dynamic marketing. For example, you can adjust to customer behavior, needs, and trends. Remember, your hotel is not just for business or leisure during the off-peak season. You can attract a broader range of guests from couples to elderly groups or families traveling with their child, by offering more services and amenities. You can make your property pet-friendly, offer a family package, create co-working spaces, or host corporate events or even weddings. 4. Implement creative pricing strategies. Instead of simply lowering your room rates to attract higher occupancy during the off-peak season, you can consider partnering with local businesses that have the same target guests like you. For example, if you wish to attract families traveling with children, you can partner with adventure parks or cultural attractions for packages and discounts. As we always say here at Bezla, be mindful of the competition. Keep an eye on the market prices but do not hurt your reputation by lowering your room rates too much. 5. Update the training of your staff on revenue-generating strategies. The off-peak season is the best time for you to brush up on your revenue-generating strategies. Your restaurant and bar staff, for example, can be trained on upselling premium products. You can share best practices with your front desk staff in promoting booking upgrades. You can also go through your guest reviews and feedback more rigorously. Ask past guests to leave a review and actively engage with those who have already left some feedback. Take this time to evaluate your hotel operations and learn more about improving your services and amenities. If we can be of any assistance at all in your hotel revenue management, we invite you to get in touch with us by emailing support@bezla.com or calling 888-999-8086. #HotelMarketing #BeatTheCompetition #Bezla Bezla.com [more]
  • BezlaLLC
  • Top 10 tips on How to Write a Hotel Business Plan|Hotel Marketing October 26, 2020|Hotel Marketing How should you write a successful hotel business plan? Once you have come up with an initial concept for your hotel business, it is not at all that difficult to construct a business plan. To prove it to you, here are top 10 tips in writing a top-notch business plan. 1. Summarize your hotel concept. You want to start by summarizing your hotel concept into two parts: your mission statement and goals. The mission statement is usually a one-liner that describes the unique purpose of your hotel. Which need are you trying to address that has not yet been seen out there in the market? Then, set your objectives. What are you hoping to achieve? For example, you might write the average annual occupancy rate that you plan on reaching. 2. Analyze your hotel concept. You have to focus on your unique selling points. As we always say here at Bezla, being mindful of the competition is crucial. You want to draw attention to what distinguishes your hotel from the rest of the market. You should be able to give projections of what the growth rate would be like for your hotel based on its unique selling points and the performance of its competitors. It is pivotal for attracting investors. 3. Analyze your industry. The success of your hotel concept depends on your knowledge of the hospitality industry. Investors will want to make sure that you know the current trends and the state of the market you are entering. Write about how this will affect you and how you intend to optimize positive effects or diminish the negative impact. 4. Analyze your customers. You have to know who your customers are. Describe their geographic, demographic, and socio-economic information. What types of guests are you trying to attract, and what makes your hotel attractive to these guests? For example, highlight how your unique location and specific features may be the perfect fit for your target market. 5. Analyze the competition. After you have analyzed your hotel, the industry, and the guests, move on to analyzing the competition. Learn about your competitors’ strengths and weaknesses as well as their market shares and revenue management metrics such as their occupancy rate and revenue per available room. Once you have finished your analyses, you can move on to the planning stage. 6. Outline your strategic plan. A strategic plan consists of explaining your marketing strategies, distribution channels, and revenue management. It answers how you will attract your target guests. How will you position yourself vis-à-vis other properties in the market? What platforms will you use to promote your hotel? What revenue management systems will you use? What payment and cancellation policies will you include in your agreements? Provide as much detail as you can so you can show your investors that you have a well-thought-out strategic plan. 7. Outline your operations plan. How will your hotel operate? Give the number of staff or supervisors needed as well as their corresponding responsibilities. What level of experience or certifications will they require? Which suppliers or service providers will you hire? Do not forget to describe your inventory management, service standards, and operation manual, if any. Remember, the more detail, the better. 8. Sell your management team. After selling your hotel concept, you need to sell yourself. Write about your management team, their experience, and qualifications. Explain why you are distinctly qualified to run your hotel and why they should invest in you. 9. Outline your financial plan. It is one of the principal parts of your business plan. It may seem complicated at first. However, after analyzing the industry and market, it will be easier for you to estimate your start-up costs, operational expenses, and revenue projections by using revenue metrics, such as revenue per available room, average daily rate, and occupancy rate. Your investors will want to know how much funding you require and how and when you will generate a return on their investment. 10. Set targets for yourself. It is the point where your business plan comes to life. Set a road map for your hotel with specific and measurable activities, such as location setting, permit completion, construction, hiring and recruitment, opening, and the like. Remember, time is money. Any time one of the milestones is met, the investor's risk decreases. Keep your team focused on unlocking each milestone to increase your hotel's likelihood of success. If we can be of any help at all in managing your hotel revenue in any way, you may reach us through support@bezla.com or call us at 888-999-8086. #HotelMarketing #BeatTheCompetition #Bezla Bezla.com [more]
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