From the pressures of a highly competitive marketplace to changing economic conditions, to the evolution of the distribution network - the challenges facing the hospitality are many and varied. In this video, SAS asked a panel of experts to share their views on the issues that will challenge the hospitality
For hotel companies, it is challenging to find new ways to differentiate in an ever evolving marketplace. There is a lot of talk in our industry about the increasing numbers of third party channels and distributors to have entered the marketplace, and how that impacts the hotel company’s core business.
We asked our partners at the Cornell Center for Hospitality Research to poll the research faculty at the Hotel School to understand their guidance about what to expect in 2015. We were also able to get a preview of what the faculty will be working on in terms of research
We asked our partners at the Cornell Center for Hospitality Research to comment on what they are seeing in terms of trends that will impact the hospitality industry in 2015. Cathy Enz, full professor in strategy and The Lewis G. Schaeneman Jr. Professor of Innovation and Dynamic Management at the
I recently read an article that listed the 100 best restaurants in the US - but the article didn't have a map. I decided to use my SAS skills to change that! When it comes to restaurants, I eat out a lot (and by 'a lot' I mean I never
By now you have seen dozens of articles with trends and predictions for what the hospitality industry should expect in 2015. I’m not going to add to those, or rehash them exhaustively here. You’ve all probably read them yourself and gathered the highlights: optimism, more acquisitions, transaction volumes will stay
Well, Analytic Hospitality Executives, the year has once again flown by, and here we sit just before the holidays looking back on 2014, and figuring out what it all means for 2015. I traveled even more than usual this year (if that’s even possible), spending a significant amount of time
Last week, I spoke to Suneel Grover, senior solutions architect for digital intelligence at SAS, about how better data and integration can drive improvements in web analytics. This week I wanted to see how this could be applied for a hospitality company. We decided to tackle a frequently debated topic in
There’s a lot of talk about modernizing hospitality marketing – and most of it is dependent on finally cracking the nut between online and offline guest data and bringing predictive analytics to play. But there is a fundamental problem hampering our ability to do this and it starts with how hospitality
I generally don’t use this blog to air my personal experiences, but recent events have reminded me of a few things that I think would benefit our Analytic Hospitality Executives and their organizations to also be reminded of. This past week, I took my fifth trip to Asia this year.
Last week I had the opportunity to attend the INFORMS Annual Meeting in San Francisco. For those of you not familiar with this organization or conference, the Institute for Operations Research and the Management Sciences (INFORMS) is the largest society in the world for professionals in the field of operations
Big data is of no use unless you can turn it into information and insight. For that you need big analytics. Every piece of the analytics cycle has been impacted by big data, from reporting, with the need to quickly render reports from billions of rows of data, through advanced
By infusing analytics through every phase of the guest journey, hotel managers can help shore up the complicated balance between the guest experience and revenue and profit responsibilities – delivering memorable and personalized guest experiences, while maximizing revenue and profits. To accomplish this, hotels need to be able to collect,
This week I’m going to “fill in” for Natalie to complete our series on “What can Hotels learn from Casinos”? (Look for parts 1 and 2 here and here, respectively) Today I’m going to address pricing. We all know that great entertainment comes at a price, and we also know
I’ve written about using text analytics to capture comprehend and act on the voice of the customer on this blog before. Recently, I recorded a short presentation that outlines how text analytics provides insight from all of the customer experience data that you collect, not just review data from social
Next week I will be presenting at the Cornell Hospitality Research Summit on big data and revenue management. In preparation for the Summit, I have recorded a short presentation that outlines how big data can help augment revenue management. Alex Dietz talks about how big data can help revenue management.
Next week Breffni Noone, Associate Professor, The Pennsylvania State University and I will be hosting a discussion at the Cornell Hospitality Research Summit on how user generated content impacts the purchase choices of the unmanaged business traveler. The discussion will take place on Monday October 13 at 2:15pm in Statler 396.
By Cathy Enz, PhD., Lewis G. Schaeneman, Jr. Professor of Innovation & Dynamic Management, Cornell School of Hotel Administration. It seems that everyone loves to talk about innovation these days, but sadly the overuse of the word to describe minor tweaks and ordinary activities has turned it into a confusing
With the growing popularity and availability of online reviews and ratings, consumers have more information than ever before when purchasing a hotel stay. In order to build effective pricing and positioning strategies, hotel managers need to understand how consumers are using all of this user generated content with price to
Over the last few posts, Lee Ann has been exploring how to marry business strategy with day to day pricing decisions. This week, I’m going to take this discussion in another direction by describing how pricing decisions are made, and the importance of strategic pricing in another industry – sports.
Last week in my post, Revenue Management vs. Price Optimization: Part One, I explored the practice of practice of hospitality revenue management, its origins in the airlines and how it was changed for use in the hospitality industry. This week I will explore how price optimization has evolved and how
Here at the Analytic Hospitality Executive, we are often asked the question “How is price optimization different from revenue management?” It’s a simple question that has become increasingly difficult to answer – largely due to the evolution of revenue management practices, and the very definition of revenue management. In this