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WHEN IT COMES to growing hotel revenue, size does not matter. Economy hotels and micro-inventory properties are experiencing one of the biggest booms in recent years, thanks partly to a massive resurgence in small group travel, changing economic trends, and the staying power of global "return to travel". CBRE noted economy and midscale hotels recovered to 2019 performance levels by 2021, and properties with fewer rooms may benefit from lower operating costs when compared to their big-box brethren-though they also tend to have fewer resources with which to hire revenue professionals. Revenue managers are driving the charge for better operating returns. Many are taking the lessons they learned from their success at larger hotels and applying these truths to the industry's smaller properties. These revenue managers leverage new technology and strategies, options that small hotels with smaller, cross-functional staff haven't fully embraced. However, competition among economy hotels and properties tends to be fierce, requiring new action, especially with recent economic pressures and a downward 2023 RevPAR forecast of 0.2 percent in recent data shared by Tourism Economics . Modern revenue management practices and technology can provide these hotels with many benefits and significant competitive advantages. Small hotels need to avoid the erratic rate shifts of the past and capitalize on new trends as they emerge. By embracing strong revenue management systems and discipline in these properties, operators can realize greater control over a typically inconsistent space. Room Enough for Revenue The most common misconception about revenue management's place in hospitality is that it is the domain of large or full-service hotels. This is simply not the case today. No two hotels are the same, in practice, with key differences always existing between the layout of a property, its location, third-party partnerships, and so on. Every hotel has different r

In a cutthroat market, to keep going - every business needs to have a competitive edge over contenders. The scenario in the Hospitality and tourism sector is nothing different, where lot of players can be seen battling for customers and for the bigger market share. Unlike before, with too many Hotels around competing with each other, the customers have a lot on platter to choose from and almost everyone today has the tendency to select nothing but the best service providers in the market. Price was, has been and would always be a prime concern for customers. Earlier when the choices were limited (in terms of service providers), the customers had no option than going for whatever they used to get in the market at the FIXED price asked by the suppliers. However, with the change in market scenario and entry of new players (and the trend is continuing), the customers have the power and they are the ones that have the final say in everything. In such a scenario (in an exclusive buyer's market), it becomes imperative for Hotels (companies) to be flexible in/with their approach towards customers. Irrespective of income group or standard of living, every customer has concerns about pricing. Who does not like best deals in anything? The customers would always look for highest quality products/services that come with the best price tag. The Hotels that befit the requirement of customers with respect to quality and pricing have fair chance of winning them, at the first place. In order to price better and win customers to their business, the Hotels need to know what their competitors are doing and what their pricing or customer strategies are. Watching and following business rivals is very important, because if both (hotels) are offering similar quality services and if one has a better pricing then customers would go with that supplier where they are getting better deals. Hence, to avoid losing customers to business rivals, hotels need to stay ahead of competitors and t

HOTEL OWNERS NAVIGATING industry changes wrought by the pandemic face no dearth of challenges: the decline in business travel, competition from home rental apps and ongoing labor shortages are just a few. Too often, the people owning the hotels - many of them small business owners - are figuring out how to adapt to the new hospitality landscape with added complications from the hotel brands that should be their partners. While many hotel owners have struggled to maintain their livelihoods since the pandemic began three years ago, some big hotel chain franchisers sold hundreds of millions of dollars' worth of loyalty point value to credit card companies under a system that often fails to adequately reimburse the franchisees. That is the thanks these hardworking franchisees got as they worked hard to keep hotel doors open. It does not have to be this way. Generations of franchise owners have successfully embraced entrepreneurship through the franchising model. Franchising allows budding entrepreneurs to adopt a known brand name and comprehensive business strategies in exchange for a portion of the revenue. This partnership has nurtured our industry: Hotels owned by our members employ 1.1 million Americans and contribute $368 billion to the economy. But the franchising relationship needs to be a two-way street to be truly successful. That is why we must ensure that the franchise industry engages in sustainable practices that recognize and safeguard the contributions of small business owners.

FLEXIBLE SUPPLIER CONTRACTS and cost-effective cloud solutions provide homegrown mid-segment hotel brands in India a competitive edge over international counterparts, according to a recent study by Hotelogix, a cloud-based hospitality technology provider. The paper notes that Indian brands understand local culture and traditions better than international ones. Hotelogix's whitepaper, The Rise and Rise of India's Home-grown Mid-segment Hotel Brands, revealed that domestic mid-segment brands control about 60 percent of India's total branded rooms. These brands are leveraging management contracts and franchise models as growth strategies, gaining an edge over international chains. Also, homegrown brands with smaller inventories can expand rapidly in cities with populations between 10,000 and 99,999, where 80 to 85 percent of demand is domestic, making it difficult for international brands to establish operations.

CHOICE HOTELS INTERNATIONAL reported improved performance for Country Inn & Suites by Radisson following its integration with Radisson Hotels Americas. The brand saw a 19-point RevPAR Index increase, a 20 percent rise in direct online contribution and year-over-year revenue growth from group and business travelers. Radisson Americas brands have seen increased digital traffic and higher booking conversions, driving new hotel commitments, including 38 Country Inn & Suites additions in two years, Choice said in a statement. "Country Inn & Suites by Radisson has performed well above the goals we set out for the brand when it joined the Choice family of brands two years ago," said Judd Wadholm, Choice Hotels' senior vice president and general manager for upper-midscale, midscale, and economy brands. "We are committed to a long-term strategy to give this brand an even stronger edge in the competitive upper-midscale segment and to unlock additional channels for our owners to help grow their revenue."

INDEPENDENT HOTEL OPERATORS must refine their strategies to stay competitive in 2025 amid labor shortages, price-sensitive travelers and the growing dominance of branded hotels, which now account for 72 percent of U.S. properties, according to Cloudbeds. Furthermore, independent hoteliers are focusing on 2025 as the "year of optimizing performance." Cloudbeds' 2025 State of Independent Lodging Report provides a data-driven analysis of the global independent lodging segment, highlighting key trends across often-overlooked property types. "Hospitality is fundamentally human-and independent properties represent its heart and soul," said Adam Harris, Cloudbeds' cofounder and CEO. "Cloudbeds is helping these businesses transform challenges into opportunities, proving that being independent doesn't mean being alone. Together, we're building a future where independent hospitality businesses don't just survive-with access to technology like Cloudbeds Intelligence, they lead the way forward."

Today's hoteliers face new challenges. IBIS World reports that there are now over 100,000 hotels and motels across the United States-meaning that the competition is greater than ever before. Further, the cost of delivering a unique and exciting guest experience continues to rise in tandem with the cost of hotel operations. So, hoteliers are tasked with finding sources of revenue beyond bookings. That's where new technology comes in. AAHOA owners can harness the power of technology to address modern challenges, so you'll be better positioned for success-no matter what the future holds. Start unlocking new revenue streams today According to a report by Oracle and Skift, nearly half of executives expect non-room revenue to account for an increasing share of their hotel's revenue by 2025. In-room TVs are a great way to drive non-room revenue-today and tomorrow. With new technology, you can use screen space to promote any paid amenities such as room service, spa services, on-site casinos, and more.You can also sell paid on-screen advertisements to local establishments like restaurants, amusement parks, or museums. There are even opportunities to promote larger affiliate partners and collect extra income when you refer guests.

Chad Goodnough is now senior vice president of sales, strategy, and innovation at Stonebridge Cos. In this role, he will drive revenue, market share and RevPAR growth for Stonebridge's portfolio through sales strategies. He joins from HRI Hospitality, where he was senior vice president of sales and marketing, Stonebridge said in a statement. "Chad's expertise in the hospitality industry and ability to drive results in competitive markets make him a strong fit," said Rob Smith, Stonebridge's CEO and president. "We are excited to welcome him and look forward to the strategies he will bring."

ACCOR HAS SELECTED IDeaS as its global revenue management software provider for its portfolio of more than 5,600 hotels across 110 countries. IDeaS will "future-proof" Accor's revenue management strategy to provide a competitive advantage, the companies said in a joint statement. "We are thrilled to be selected as a global partner to drive Accor's commercial revenue platform transformation at a moment of unparalleled growth and opportunity for the company worldwide," said Ravi Mehrotra, IDeaS' cofounder and chief scientist. "In a new era of innovation and consumer and product diversification, we are pleased to bring IDeaS' market-leading automation, pricing approach, and a singular focus on holistic revenue optimization to Accor's diverse brand portfolio."

PEACHTREE GROUP RECENTLY introduced new branding, logo and tagline, "Guided by Intuition, Grounded by Expertise." The branding update aims to project the company's integrated investment strategies and service platforms. This change consolidates the company's varied brand portfolio, renaming Stonehill as Peachtree Group Credit and Peachtree Hospitality Management as Peachtree Group Hospitality Management, the company said in a statement. "The new branding has given us a competitive edge in attracting top-tier talent, ensuring a consistent influx of the best minds and skills to navigate an ever-changing business landscape," said Greg Friedman, CEO and managing principal of Peachtree Group. "Moreover, our strategic branding approach, aimed at consolidating our diverse range of businesses, is poised to unleash even greater untapped potential within our investment platform. This platform, already proven in its value in the hospitality sector, has played a pivotal role in our expansion and diversification into other real estate sectors and ventures."