Revenue Matters - 1st Quaterly Newsletter 2023

Hotel demand is influenced by economic factors including consumer confidence and gross domestic product. As such, 2023 will likely be a tale of two halves with continuing inflation and interest rate increases, plus downward risk in the housing and financial markets dominating the 1st half of the year. For most of our properties, the US represents a significant source of business. We are assuming that Federal Reserve backs away from its current restrictive policy by summer and anticipate seeing some rebound in the financial markets and early evidence of GDP growth moving into positive territory in the 2nd half of the year, while European markets are likely to trail behind.

So, what does this mean for us in supporting your property? Both strategies and tactics to support those strategies must evolve throughout the year for your revenues to be optimized. Communication and alignment are key. Our team will also bring several cost-saving solutions to you for consideration. The double-entendre “profit from experience” in our tagline is intentional. We fully recognize that it is profit that you take to the bank, so supporting you in that endeavor will continue to be our focus.

Here are some articles to help you face the future with realistic optimism.

Hospitality Headlines

The Return of Business Travel, and the Rise of the Flexcation
By Haley White, Expedia Group Media Solutions
As travel restrictions eased, business travel began to reemerge in 2022. While there are headwinds to full recovery in 2023, one thing is clear: travelers want to get back on the road.

Convention Center Bookings Boost Optimism for Hotel Group Business in 2023
By Trevor Simpson, Hotel News Now
Even with a recession looming over the US economy in the near future, a lodging industry analyst predicts that groups are poised to book more rooms at US hotels in 2023.

How to manage top trends impacting hotels in 2023
By Kimberly Gore, Hub International
Hotel revenue streams continue to grow, but the need for corporate travel still remains. Rising costs and labor shortages also pose a challenge, as hoteliers search to find the best way to increase profit and minimize debt.

Tricks of the Trade

This independent 38-room California property was seeing excellent weekend bookings, but shoulder nights and weekday business was struggling. Discover the approach taken by the revenue team to boost mid-week stays and see their stellar results.

Strategic Partnership

What sets Revenue Matters apart from the rest? The three key ingredients of Revenue Management, Distribution and Digital Marketing. This comprehensive service structure, along with an expert team of directors and analysts, is your ticket to a successful future. Decades of hospitality experience, modern technologies and an ever-expanding knowledge base of ideas and strategies come together to provide you with the tools you need to navigate the road ahead.

Vendor Spotlight

Organizations ebb and flow, and sometimes require the added assistance of someone they can trust to keep things running smoothly. That’s where Tyme Global comes in. With over 10 years of sales and service experience in the hospitality industry, Tyme Global provides a high-quality, low-cost remote partnership to fill the needs of its clients, whether it be in guest services, reservations, sales or back-office needs.

To learn more and start a conversation around your property, visit TYMEGLOBAL.com.

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REVENUE MATTERS
303-690-9116 • info@revenuematters.com • RevenueMatters.com