July 19, 2018
Expedia says packages are better for hotels than room-only
Hotels are achieving higher average daily rates (ADR) from consumers who book packages rather than just rooms, according to data from Expedia Group.Read more
For as long as the hospitality industry has fallen behind in technology innovation, hotel owners and asset managers have been forced into a very tough spot.
Owners, REITs and asset managers assume heavy costs to adopt new systems, whether to keep up with nimbler independents or lead new initiatives for their hotel brands. They’re also acutely aware of the problems caused by decades of underinvestment in innovation, namely aging technology that can’t execute new strategies. They bear the brunt of rising costs for acquisition and distribution that grow faster than revenue gains.
There always have been activist asset managers who recognized the value of revenue management.
But often that meant holding GMs and DORMs accountable for metrics like RevPAR and ADR. It didn’t necessarily mean getting involved in the push for innovation.
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