Each Friday, the HotelNewsNow.com editorial staff picks the most compelling (or downright gutsy) quote and reader comment from the week. Here are this week’s picks.
Reader comment of the week
In her most recent column on HotelNewsNow.com, consultant Bonnie Buckhiester tackles the hazy intersect of social media and revenue management. Many companies have developed a corporate strategy on the topic, but what’s missing, she argues, is engagement at the property level.
Commenter HeadStand thinks the problem comes down to two basic dilemmas:
I believe the "difficulty" a lot of hotels (and even their parent companies) are having with Social Media boils down to 2 very basic dilemnas: (sic) 1. How do you get your arms around the new 900lb. gorilla on the block? Social media arrives at our hotels with so many different origins, rates, codes, etc - we are mostly guessing as to the empirical ROI. 2. How do I "convert" allegiance to my own hotel/brand, thus making my initial ROI expectations more realistic...more "for the long haul". All of social media is about "groupings". I belong to a certain group because others in that group have a similar job, hobby, ideaology, (sic) etc. Also, the vast majority of vehicles - like Facebook and Linkedin - are about interacting OUTSIDE of "the ultimate social network"...which always has been and always will be - FACE-to-FACE!! As hoteliers, we have seen the evolution of "market segmentation"...all the way back from the 50's with the first Holiday Inns and HoJo's simply "picking them off" the new interstate highway ramps...to the beginning of Holidomes and "Convention Hotels" - becoming a "Destination unto Themselves". We literally "invented" and pro-actively (sic) built what is now 30% of total business in all hotels - "Group Business". Let's get creative and aggressive and make the same pioneer (sic) efforts as we head into the next generation - Let's literally "FACILITATE the Face-to-Face"!!
Quote of the week
Shooting from the hip—or the heart—isn’t the best way for revenue managers to do business. Data can make all the difference, reports Shawn A. Turner in his recap of HSMAI’s latest webinar titled “Use data to drive revenue management decision making.”
Data helps provide further proof about how rate should be adjusted, can increase buy-in from other members of the team, and becomes a way of providing checks and balances during the decision process, said Jon Eliot, director of revenue optimization for Carlson Hotels Worldwide.
“Sometimes revenue management is not questioned a lot,” he said. “Well, maybe the (revenue managers) should question (themselves).”
