The Way Forward After A Tumultuous Decade - By Ragsdale Hendrie
Our Retail world was pretty well whacked in the last two years, and 2010 will be a year of rebuilding our Brands with a new Value Proposition.
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The Internet has brought dramatic changes to the way customers search for and book hotels, and increasing online sales may be the way to boost hotel profitability without drastic rate slashing. Travelers are using the Web to find the best deals on hotel rooms, so hotel managers should be welcoming those customers online by offering them the best rate possible at the very moment they are searching. Faster and faster broadband connections, new cloud computing technologies, and a travel data explosion on the internet are reshaping the way travelers buy hotel rooms. Smart hoteliers who are investing in the latest technologies will outbid their competitors who cannot keep up with the new revenue management solutions of the next decade.
In year-over-year measurements, the Asia/Pacific region's occupancy grew by 2.2 percent to 68.0 percent; average daily rate increased by 1.2 percent to US$129.46; and revenue per available room jumped 3.4 percent to US$88.05.
In year-over-year measurements, the industry's occupancy fell 5.4 percent to end the week at 33.8 percent. Average daily rate dropped 8.0 percent to finish the week at US$85.78. Revenue per available room for the week decreased 13.0 percent to finish at US$29.02.
The compendium presents summaries of all 2009 CHR publications in one convenient package. This includes Cornell Hospitality Reports, Cornell Hospitality Tools, and Cornell Hospitality Roundtable Proceedings.