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Creating a Revenue Management Culture

“Eventually, everything connects – people, ideas, objects. The quality of the connections is the key to the quality per se.” Charles Eames A Common Hospitality Situation Crystal Mountain Resort, a popular family-run property in Michigan with 247 privately owned cottages, condos and homes, found itself in an all-too-common situation. Marketing was creating high-volume promotions through …

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Profitability Strategy #3: Improving Guest Service While Increasing Reservations

From 2014 to 2015, Narrowcast captured over 8 million vacation rental calls, equating to over 38 million minutes of dialogue with guests. That’s an average of 4.75 minutes per call. A comparable standard for visitors to vacation rental websites is hard to come by and, frankly less meaningful. No matter the multitude of analytics available, …

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Profitability Strategy #2: Build Loyalty to Increase Repeat Guests

Guest loyalty has become synonymous with programs, but genuine guest allegiance does not arise from programs with their complex points systems and rules. True loyalty arises from a relationship; it is built by connection. The benefits of achieving true loyalty are many, but when it comes to profitability, in particular, loyal repeat guests are essential. …

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Understanding Guest Acquisition: Thinking Beyond Marketing Spend

According to new research by Kalibri Labs, the cost of acquiring hotel customers through marketing and distribution channels is rising at twice the rate of hotel revenue growth. Online marketing expenditures and third-party commissions receive the most airtime when it comes to breaking down guest acquisition costs and proposing remedies, but there is more to …

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What Booking on Google Means for Hotels

Travelers now have the option of booking a hotel room directly through Google, Google+, and Google Maps. While the “Book on Google” feature is currently in the beta phase, it speaks to the ever-increasing competition for market share. While there are benefits to this facilitated booking arrangement, when it comes to direct bookings — and …

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Inbox Avalanche? 3 Ways to Turn VR Inquiries into Gold

Can you ever have too much of a good thing? Vacation Rental Managers (VRMs) may be tempted to answer “Yes!” when they gaze at the avalanche of email inbox leads. What’s going on here? Shifts in the hospitality market have put vacation rentals on the map like never before. The Sharing Economy has more travelers …

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3 Travel Trends & How Your Property Can Take Full Advantage

We’re gonna have happy holidays in the hospitality industry this year and here’s why: Trend #1:  Business is good. Business is very good. The conference circuit this fall reflected an economic uptick across the board – hotels, resorts and vacation rentals. Smith Travel Research (STR) reports 46 months in a row of RevPAR growth. Better …