Hospitality Management
Article | July 18, 2023
Leverage upselling and cross-selling techniques to elevate hospitality & tourism businesses. Discover the strategies used to boost revenue by adapting upselling and cross selling techniques in hotels.
1. Introduction
2. Cross-selling Vs Upselling: Which One Is More Optimal?
2.1. Defining the Two Techniques
2.2. The Key Differences
3. Combining Both the Techniques to Improve Revenue
4. Importance of Implementing the Techniques in Hotel Businesses
5. Conclusion
1. Introduction
The hospitality industry is highly competitive, and hotels must find ways to boost revenue beyond room rates and taxes. The key to success in this field is to tailor offers to each customer and encourage them to spend more than they had planned. Cross-selling and up-selling are two effective methods of increasing sales.
This article explores these methods' nuances in the hospitality sector. By dissecting the advantages of cross-selling and upselling, we can better understand when it makes sense to implement these tactics for maximum profit. The potency of upselling and cross selling techniques in hotels to improve the business and offer enhances guest experiences.
Cross-selling Vs Upselling: Which One Is More Optimal?
In the hospitality industry , maximizing revenue and enhancing guest experiences are paramount, and whether to prioritize cross-selling or upselling is a question. While often used interchangeably, these sales techniques hold distinctive positions within the buyer journey.
2.1. Defining the Two Techniques
Upselling is a sales approach that offers customers a higher-priced or upgraded service or product that aligns with their interests and preferences. In the hospitality industry, it may encompass enticing guests to upgrade their room selection, such as transitioning from a standard room to a mini-suite, either during the booking process or afterward. Additionally, it may involve presenting guests with hotel packages that provide added value and amenities compared to standalone bookings. The aim is to elevate customers to a higher price category and ensure they enjoy an exceptional stay experience.
On the other hand, cross-selling entails encouraging guests to purchase supplementary products or services related to their existing purchases. For instance, this could involve offering a spa package or a romantic dinner to enhance their stay. Cross-selling opportunities in the hospitality industry can include add-on activities like city tours or bicycle rentals, in-room extras such as upgraded amenities or specialized equipment, on-site spa and fitness services, food and beverage options such as dining discounts or meal packages, and other hotel services like complimentary parking or transportation.
2.2. The Key Differences
1. Strategy: Upselling focuses on communicating value to customers, persuading them to opt for a higher-priced or upgraded service or product. The emphasis is on showcasing the benefits and added value of the upsell, ensuring customers see the value in paying extra for a superior experience. On the other hand, cross-selling aims to appeal to impulse buying by enticing customers to purchase additional, related products or services that complement their original purchase.
2. Timing: Timing is crucial in both upselling and cross-selling. With upselling, the timing is most effective when done pre-arrival, ideally a week or two before the guest arrives at the hotel. This allows customers to anticipate their upcoming stay and consider upgrading their room or adding extra amenities. Cross-selling can be implemented post-booking, such as during check-in or through targeted email campaigns when customers have already committed to their initial purchase and are more open to additional offers.
3. Value Perception: Upselling techniques relies on effectively communicating the value and benefits of the upgraded or higher-priced offering. Guests need to see the value in paying extra for the enhanced experience. In contrast, cross-selling often involves appealing to customers' desire for convenience or enjoyment by offering travel management services that enhance their stay without necessarily requiring a significant increase in expenditure.
3. Combining Both the Techniques to Improve Revenue
Cross-selling is the most effective post-booking and can be implemented in various ways. Firstly, it can be done at the hotel reception during check-in, where guests can be offered add-on items. Secondly, sending an informative email before arrival to highlight additional services is another compelling cross-selling opportunity. Lastly, when guests express interest in a particular service, it presents an opportunity to introduce them to other relevant options.
Upselling, however, is particularly effective when implemented pre-arrival, ideally a week or two before guests arrive at the hotel. This technique can be deployed during the browsing and booking, where customers can be presented with room upgrades and add-on items. It is also fruitful to inform customers about better room options at affordable prices before their arrival, tapping into their anticipation for their upcoming vacation. Furthermore, during check-in, providing guests with information on enhancing their stay by spending a little extra can generate additional revenue.
To combine the power of both techniques efficiently, companies must employ specialized software. This software automates room upgrades and the promotion of additional ancillaries, providing customers with the convenience and freedom to choose and bid on attractive upgrades before arrival. Advanced customer journey analytics, such as software offers, enable personalized product offers, increasing sales and hotel revenue.
4. Importance of Implementing the Techniques in Hotel Businesses
Implementing upselling and cross-selling techniques is vital for hotel businesses, apartment rentals, and hostels. Hotel upselling techniques and cross selling techniques establishments possess unique opportunities to capitalize on these strategies, similar to how airlines offer seat upgrades, meal additions, and car rental options. When choosing accommodations, travelers invest considerable time and thought into finding a place that aligns with the desired ambiance of their trip. As hosts, this presents an ideal opportunity to offer additional products and activities that complement the property's offerings.
Unlike airlines, hotel properties often indicate the activities that guests might be interested in, allowing hosts to select the most relevant products to offer. This could involve tailored offerings such as private guided tours to popular tourist attractions or unique underground graffiti tours based on the guests' preferences and digital travel persona.
By providing personalized offerings that cater to the customer's needs, hotel businesses enhance the overall guest experience and deliver excellent service. Activities constitute the third-largest segment of the travel industry and are continuously growing. With data revealing that 46% of travelers engage in sightseeing tours, it becomes evident that upselling and cross-selling will play an increasingly significant role in the hospitality industry.
5. Conclusion
In the incredibly competitive hospitality industry, implementing upselling and cross-selling techniques is crucial for hotel businesses. By understanding the nuances and distinctions between these strategies, hotels can target customers strategically and increase revenue streams beyond room rates and taxes. Cross selling techniques encourages impulse purchases by offering additional products or services related to the initial investment. By combining both techniques with specialized software, hotels can personalize their offerings, automate their promotions, and provide a seamless experience for their guests. This strategy not only increases revenue but also caters to guests' various preferences, resulting in increased satisfaction and loyalty. As the activities segment of the travel industry continues to expand, the importance of upselling and cross-selling in hospitality management is anticipated to continue rising. In addition, deploying innovative business travel technology solutions can improve hotel businesses in hospitality industry.
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Travel Technology
Article | May 5, 2023
A recent study stated that the travel industry faced an estimated $519 billion loss in 2020 due to the pandemic. Some of the challenges that most companies came across are managing travel expenses, maintaining travel and expense process flow, using the right expense management solutions, and more. As the travel industry is getting back in business, it is overcoming challenges sturdily.
To simplify travel and expenses process flow, managers need instant and effective travel and expense management solutions to organize travel plans, submit expense reports, and control overspending on their travels. Before you dive into details about solutions that can improve the travel and expenses process flow and logistics of your company, here is a brief about travel and expense management solutions.
An Overview: Travel and Expense Management Solutions
Travel and expense management solutions are only relevant businesses that need to control the travel-related expenses of their employees. These solutions help you in understating the integrated spend data and deliver a better user experience. Other than this, these solutions can also help with:
Making clearer and smarter data-driven decisions
Encouraging policy compliance automatically into travel and expense process flow
Saving time to collect data from expense reports automatically
Simplifying budgeting
Forecasting a more accurate data of the spend
How Can You Streamline Your Travel and Expense Management Process?
Automated travel management software can help your employees and finance team use the travel and expense management solutions for their benefit. But how? Here are the reasons to support:
Employees could:
Effortlessly manage receipts and submits the details of corporate travel
Submit digital travel and expenses report instantly using a centralized travel and expense software
Maintain compliance with the existing reimbursement policy for corporate travel and expenses in your company
Finance teams could:
They can create transparency in corporate spending reports by using travel management software and its automatic function.
They can have better control over their travel expenses.
5 Ways Travel and Expense Management Solutions Can Help Companies
Travel and expense management solutions give all travel and expense management services easy access to align in one place. By doing this, you will be able to gain more control over services and enforce compliance. Here are five ways your business can effortlessly adopt new travel and expense management solutions and help you win challenges faced during the pandemic.
Review the Selected Solutions
Before you implement a travel and expense management system, it is vital to review preferred travel and expense management solutions that your business requires. This will help the travel expenses workflow align seamlessly and make employees understand what it takes to manage the entire travel expense scenario accurately.
Conduct Surveys
If you are going to switch the old travel expenses method and adapting advanced travel and expense management solutions, it is crucial to survey the users who have used the solution and know its performance. This survey will help your employees to know if the chosen travel management software suits your requirements. The next step is to keep an eye on the most frequent and critical users, which will help you to have a clear insight into new trends that are being followed in terms of managing the workflow efficiently. By this, you can also implement it in your company. It also helps identify where your process needs refinement to facilitate efficiency in the expense management system.
Prioritize the Must-haves
The next step should include the collected input from the survey for setting up the foundation of priority of needs. In this case, creating a checklist is an ideal option. Prioritizing the best travel management software with apt travel and expense management solutions according to your workflow can help you select the right travel expense software for your organization.
You can select travel and expense management solutions that consist of:
Report building automation
Auto fill options
Remote access
User-friendly interface
Helpful support
Mobile functionality
Quick international payment
Introduce Demo Sessions
If you use an advanced global travel and expense management system, it is recommended to provide demo sessions of the preferred travel and expense management solutions to your team. The demo sessions could be an opportunity for your team to witness travel and expense management services created from reputable travel management software in action. With this, you can know about a host of details about the implementation of travel expense software, integrations, user training, travel and expense process, and its flow. This contributes towards the successful adoption of a travel expense system and proves the abilities of the travel and expense management solutions selected by you to scale your business as it grows.
Choose a Solution
Once you have organized multiple demo sessions of various global travel and expense management solutions, it's time to choose the best travel expenses management software that fits your company's culture and requirements. Take a good look at the pros and cons of the final travel expense planner you consider for integrated expense management solutions to combat your existing challenges. Being cautious while choosing the right global travel and expense management solutions will benefit your employees, and they will be able to use it for the company's advantage at a much faster pace.
Frequently Asked Questions
What you should know about expense management software?
Here are some benefits of an expense management software:
Ease of access
Minimum manual intervention
Higher cost savings
Faster reimbursements
Eco-friendly process (no paperwork)
A simple process that simplifies workflow
Encourages errorless work and delays
Your employees can find the best travel and expense management solutions using various expense travel management software.
How to manage travel expenses?
There are several travel and expense management solutions to manage travel expenses. Here are some ways in which you can manage your travel expenses:
Keep a track of expense details
Plan ahead before setting a policy
Stay aware of the policies
Have an effective approval process of expense
Organize spend data
Why use an expense management software?
An expense management software helps a business ease expense reporting, manage other aspects, and deliver the right travel and expense management solutions. It offers efficient workflow to the finance teams while recording expenses, data, approvals, controlling costs, and more.
What are the most crucial features to manage expenses?
The most crucial features to manage expenses are:
Real-time policy checks
The seamless expense reporting process
Digital audits
Advanced level of data analyses
Easy approval process
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Hospitality Management
Article | June 20, 2023
Embark on transformative journey through top hospitality management certification in the tourism and hospitality industry. Elevate career prospects with industry-recognized hospitality certification.
The hospitality industry is a dynamic and fast-growing sector that requires skilled professionals to deliver exceptional guest experiences and drive business success. Whether you are an aspiring hospitality professional or a seasoned industry expert looking to expand your knowledge and enhance your career prospects, pursuing a hospitality management certification or course can be a valuable investment. Hospitality management courses are short-term, specialized training programs designed to offer learner with a comprehensive understanding of hotel management and the hospitality industry.
1. Management Foundations in the Hospitality Industry
Experience a transformative journey in hospitality management with the hospitality management certification, Management Foundations in the Hospitality Industry. This advanced course caters to industry experts, equipping them with a comprehensive understanding of motivation, leadership, communication, decision-making, and effective human resources management. Delve into service-driven excellence, ethics, social responsibility, and enhancing consumer experiences. This course consists of four modules covering resource allocation, talent recruitment, interviewing, employee training, performance appraisals, and liability avoidance. To solidify your knowledge, the course features curated readings, interactive discussions, and practice quizzes. Elevate your professional prowess and unlock new horizons in the dynamic hospitality industry.
2. Guest Service in Hospitality and Tourism
Enhance your hospitality and tourism industry expertise with the exclusive certification in hospitality management, Guest Service in Hospitality and Tourism. This advanced course caters to industry experts, equipping them with essential skills and knowledge to excel in customer service. Dive into the intricacies of greeting guests with finesse, responding adeptly to complaints, and creating unforgettable experiences. From maintaining composure in challenging situations to demonstrating empathy, you'll master the art of exceptional service. With this course, you can learn and leverage practical strategies to handle common grievances, ensuring guest satisfaction at every turn. This certification program will unlock a world of opportunities in the dynamic field of hospitality management.
3. Introduction to Hospitality Management
Embark on a transformative journey with a certificate in hospitality titled, Introduction to Hospitality Management. As you transition into a managerial role, renowned restaurant consultant Mike Ganino shares expert insights in this comprehensive online course. Acquire essential skills, from preparing for your first day as a manager to effective task prioritization, delegation, and confident leadership. This 30m 35s online course will help you to optimize staff rostering, master multitasking, and ensure exceptional service standards. Gain expertise in handling challenging situations with demanding customers and effectively respond to customer feedback. With this course you can unlock new possibilities and elevate hospitality management career.
4. Hospitality Management Cornell Certificate Program
Uplift in the hospitality industry with Hospitality Management Cornell Certificate Program. As one of the premier hospitality courses developed by the renowned School of Hotel Administration at Cornell University, this advanced certification equips industry experts with the essential skills and best practices to excel in management roles. From finance and marketing to team building and guest loyalty, you will gain a comprehensive understanding of every facet of hospitality management. The course allows one to learn from renowned experts and participate in virtual Zoom sessions, exploring the industry's trending topics. This certificate program is for a duration of three months, divided into weekly modules of three to five hours per week.
5. Teamwork in the Hospitality Industry
Embrace the power of effective teamwork in the dynamic hospitality industry with the comprehensive Teamwork in the Hospitality Industry course to improve your work experience. As a hospitality industry expert, one must understand teamwork's crucial role in enhancing work experiences and driving success. In this microlearning program, organized with four lessons to fit seamlessly into a busy schedule, you'll develop the essential teamwork skills required to thrive in the fast-paced hospitality environment. From understanding the significance of effective communication within teams to practical applications and navigating noisy environments, this course empowers you to elevate collaboration and deliver exceptional results.
6. Understanding Travel and Tourism
One of the best hospitality and tourism management certifications, The Understanding Travel and Tourism, a course published by NuYew, is one of the best hospitality management programs to enhance expertise in the thriving world of travel and tourism. This course provides a platform for learners and industry experts to gain valuable insights into the travel industry's fundamentals, benefits, and terminology. Acquire the essential skills necessary for success in this dynamic field and discover renowned global tourist destinations and attractions. In addition, the course also includes the intricacies of business travel, hygiene standards, food safety, and event planning within the hospitality and catering industry.
7. Accounting and Financial Management for Travel Agencies
Overcome the difficulties of managing the travel and hospitality businesses' accounting transactions or financial statements with Accounting and Financial Management for Travel Agencies. Designed to help industry experts boost their financial management skills, this course will equip you with the knowledge to navigate accounting transactions effectively, interpret financial statements, and make strategic decisions that drive profitability. With the combination of practical case studies and interactive simulations, the course has been created to develop a deep understanding of accounting principles and learn proven strategies for financial success. Whether aiming to meet investment requirements or comply with industry regulators like IATA, this course ensures you have the skills to manage the agency's financial health.
Summing Up
Learning has become more accessible and convenient than ever before thanks to the advancements in technology. By embracing the listed hospitality management courses, individuals can equip themselves with the necessary skills and knowledge to thrive in the ever-evolving landscape of the hospitality industry. As we move forward, it is evident that continuous learning and upskilling will be crucial in staying relevant and competitive. The online hotel management certification allows professionals to adapt to the changing demands of the industry and stay ahead of the curve. By harnessing the power of digital platforms and innovative learning methods, individuals can unlock new opportunities and pave the way for a successful career in hospitality management.
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Hospitality Management
Article | June 19, 2023
Discover the future of travel at the Hospitality Management events. Upcoming hospitality conferences 2023 & 2024 will have experts share insights about the rapidly evolving hospitality industry.
Warehousing and distribution play crucial roles in the logistics industry. To enhance the expertise and gain a competitive edge, professionals must attend logistics conferences in 2023, including the Supply Chain Management and warehousing conferences and events. These gatherings offer a platform for industry leaders to exchange ideas, learn from experts, and explore the latest advancements.
The following warehousing conferences and events will provide tailored discussions on warehouse optimization, inventory management, and process improvement.
1. PRSA Travel and Tourism 2023 Section Conference
June 20-23, 2023 | Madison (Wisconsin)
The PRSA Travel and Tourism Conference, presented by the PRSA's Travel Media, the global media network, will be held in June this year at the Monona Terrace Community and Convention Center in Madison, WI. This annual conference will bring together industry professionals to address evolving media and public relations changes. With notable speakers like Amy Alipio and Kelly Barbrey, attendees can gather timely strategies, resources, and diverse perspectives to excel in hospitality, tourism, and event management. Media and professional development experts, including esteemed speakers such as Amy Alipio, Kelly Barbrey, Casey Barks, Andrea Braustein, and Tykesha S. Burton, will impart their insights and expertise, providing attendees with timely strategies, resources, and diverse perspectives.
2. HITEC: The Hospitality Industry Technology Exposition and Conference
June 26-29, 2023 | Toronto (Canada)
HITEC is one of the leading hospitality conferences for tourism and hospitality industry leaders. HITEC showcases cutting-edge technology tools that support the breadth of hospitality operations. With an unparalleled education program curated by top industry experts, attendees gain invaluable insights about the latest travel technology and solutions. Notable speakers such as Shawn Kanungo, Amandeep Sarna, Bharat Patel, Frank Wolfe, and Michael Levie will share their expertise, enhancing attendees' knowledge in hospitality management and tourism hospitality. HITEC 2023 promises to be a transformative experience for professionals seeking to stay at the forefront of the hospitality industry.
3. The Hospitality Show
June 27-29, 2023 | Las Vegas (US)
The Hospitality Show is an exciting new addition to hospitality conferences that aims to bring together the entire tourism and hospitality industry with a shared goal of optimizing hotel operations for efficiency and profitability. With a focus on networking opportunities, industry leaders, senior executives, hotel brands, owners, operators, management companies, developers, investors, and technology partners will convene at this one-stop shop for collaboration. The show boasts an impressive lineup of speakers, including Kat Cole, Adm. William H. McRaven, Anthony Capuano, and Larry Cuculic, who will provide valuable insights and expertise about hospitality management.
4. Hospitality Upgrade’s CIO Summit
September 6-8 2023 | Austin (Texas)
A hospitality management events’, CIO Summit is designed for tourism and hospitality industry leaders. Over two days, this exclusive event will offer a unique blend of networking opportunities, insightful programs, and immersive social events. Participation is limited to top technology leaders from major hotels, casinos, cruise lines, management companies, and timeshare companies, ensuring a small peer networking experience. With its successful track record since its launch in 2002, the CIO Summit has become a prominent gathering for over 400 hospitality CIOs. Notable speakers such as Greg Duff, Vaughn Davis, Kelly McGuire and others will share their expertise, providing industry leaders with valuable insights and innovative strategies. For professionals in the hospitality industry, the CIO Summit in 2023 promises will be an invaluable platform for networking, knowledge exchange, and to stay ahead of the curve in the ever-evolving world of technology and tourism hospitality.
5. Gartner IT Symposium|Xpo
September 11-13, 2023 | Gold Coast (Australia)
The Gartner IT Symposium/Xpo 2023 conference addresses the needs of CIOs and IT executives in the tourism and hospitality industry. In a time of intense economic and social volatility, organizations in the industry must find innovative ways to drive efficiency, scale productivity, and pioneer new business models. By participating in this global gathering of experts and peers, attendees will gain valuable insights, expert guidance, and real-world examples to shape the future direction of technology in the hospitality industry. Key topics to be covered include business transformation, cybersecurity, AI, customer experience, data analytics, and executive leadership. With esteemed speakers like Holly Ransom and Mathew Luhn, this event will equip industry leaders with the knowledge and tools to navigate the ever-changing technology landscape and drive success in the hospitality industry.
6. Hotel & Hospitality Expo Saudi Arabia
September 10-12, 2023 | Saudi Arabia
The Hotel & Hospitality Expo Saudi Arabia is a highly influential hospitality management events and trade conference that serves as a gateway to explore the future of Saudi Arabia's hospitality industry. With a comprehensive market report, this event will delve into the key trends, industry dynamics, and the development of giga-projects, offering invaluable insights for industry leaders in the tourism and hospitality sector. By attending this expo, professionals can network with leading experts, conduct businesses, and stay updated on the latest industry developments. The event will feature conferences where hospitality leaders can share their expertise and host the prestigious Saudi Hospitality Awards. With participation from numerous local and international brands, the expo will be a valuable platform for professionals to source relevant products and services to enhance their operations in the hospitality industry.
7. Digital Travel Summit
September 12-13, 2023 | South Carolina (US)
The hotel conference and trade event, Hotel & Hospitality Expo Saudi Arabia, plays a pivotal role in shaping the future of the hospitality industry in Saudi Arabia. Industry leaders in the tourism and hospitality sector can expect valuable insights from the event's comprehensive market report, which will explore key trends, industry dynamics, and the development of giga-projects. Attending this expo will allow professionals to network with top experts, engage in business opportunities, and stay up-to-date with industry advancements. Additionally, the conference will feature renowned speakers such as Kate Powell, Priya Rajagopal, Steven Paganelli, Derek Schoen, and Andrea Cole, who will share their expertise and contribute to the knowledge exchange. By participating in this event, industry leaders can get access to source relevant products and services to elevate their operations within the hospitality industry.
8. Skift Global Forum
September 26-28, 2023 | New York City (New York)
Skift Global Forum 2023, the flagship global conference on the business of travel, is set to make its return to New York City. This tourism and hospitality conference will offer invaluable insights into the future of the tourism hospitality industry. With a focus on the theme 'Connection in the Age of AI,' the conference will delve into the evolving relationship between generative AI and the travel industry. Notable speakers such as Ariel Cohen, Glenn Fogel, Christopher Nassetta, Jason Calacanis, and Gary Morrison will provide unique perspectives and inspire industry leaders to navigate the dynamic landscape of the hospitality and tourism industry.
9. The Phocuswright Conference
November 13-16, 2024 | Florida (US)
One of the renowned hospitality conferences, Phocuswright Conference, has catalyzed innovation and business growth for over 25 years. It will offer industry leaders an unparalleled platform to immerse themselves in professional development, advocate for innovation, and cultivate talent. The event will further foster valuable connections with an influential and elite group, providing inspiration and insights to drive success in the dynamic landscape of the hospitality and tourism industry. Notably, the conference prioritizes sustainability by fully offsetting the carbon footprint of the entire event, including every attendee. With esteemed speakers such as Timothy Hughes, Tania Platt, Nadim El Manawy, and Mary Li, industry leaders will be able to gain valuable knowledge, expand their networks, and stay ahead of the rapidly evolving hospitality industry.
10. 4th International Conference on Tourism Management and Hospitality
March 01-03, 2024 | Vienna (Austria)
The Hospitality Conference 2024 is known as the International Hospitality and Tourism Management Conference (ICTMH). It is the fourth edition of the conference this year and promises that it will be a gathering of industry leaders, academics, and professionals. Attendees can expect to engage with world-renowned experts who will present their groundbreaking research on critical topics such as customer experience, medical tourism, economic sustainability, ICT and tourism, social media marketing, and tourism law. Notable keynote speakers, including Dr. Hsuan Hsuan Chang, Dr. Kelly La Venture, Prof. Dheeraj Sharma, and Prof. Koustab Ghosh, will provide valuable insights and expertise, ensuring that industry leaders will return the conference equipped with fresh perspectives and ideas to elevate their organizations and shape the future of the hospitality industry.
The hospitality management events and conferences mentioned in the article provide a promising outlook for the future of the tourism and hospitality industry. These gatherings serve as crucial platforms for networking, knowledge sharing, and collaboration within the industry. By attending hospitality conferences and hotel conferences, businesses can gain insights into tourism and hospitality management, explore new trends, and learn about innovative strategies for success. These events also focus on tourism and event management, providing valuable opportunities to stay updated on industry developments and form partnerships.
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