Revenue Management Asia/Pacific – Learn from the success of others in these trending stories from the revenue management industry in the Asia-Pacific region.
Feeling Abandoned? Consider Personalization
Online abandonment is a massive problem for hospitality and travel companies the world over. However, the problem has become particularly acute in the Asia-Pacific market, according to marketing technology firm Ve Global. Ve says their own data suggests more than 90 percent of potential bookings are abandoned before purchase, but there is a solution. The firm found that even small, personalized details can have a major impact on whether a potential client goes through with an online booking. So much so, that tweaks like including a client’s name in an email subject line can dramatically reduce abandonment rates. For anyone involved in hotel revenue management here in Miami, this is a must-read.
Voice Search is Coming
With devices like Amazon Alexa and Google Home exploding in popularity, voice search and greater consumer profiling will inevitably revolutionize online booking. That’s according to Travelport’s Simon Ferguson, who recently delivered an informative speech on the topic in Singapore.
“One in five travel apps worldwide are used in South Korea, and in China, they’ve put in pedestrian lanes for people on their phones. Emerging markets are going to shape the future of travel”, he said.
Of course, these trends won’t stay in Asia, and will sooner or later come knocking at your door. How will this impact hotel revenue management consult in Miami? Read the full article here to find out.
Alibaba’s Fliggy Moves into Thailand
One of Asia’s biggest travel destinations is embracing Fliggy, Alibaba’s own online travel business. Specifically, the Tourism Authority of Thailand has announced plans to partner with Fliggy to develop new technology-based solutions to improve the tourist experience at some of the country’s top attractions. Initiatives range from shiny new electronic ticketing systems to online tour guides. It’s an interesting insight into the future of tech in travel and could have some interesting implications in the distant future for hotel revenue management consulting in Miami and beyond. Read more here.
Six Senses Expanding in Singapore
Six Senses is a fascinating case study for marketing and revenue management alike. The original Six Senses Duxton began as little more than a row of dilapidated shophouses, which were renovated from the ground up to provide modern hotel accommodation. Since then, Six Senses has become something of a poster child for urban redevelopment as a big business opportunity for adventuring hoteliers. The company is now set to rapidly expand in Singapore. Its story is one of authenticity, community engagement, and sustainable business practices. Needless to say, there are also some useful lessons in there about revenue management solutions for Miami. Read all the details here.
Business is Booming in APAC
Great news for the hotel industry across Asia and the Pacific: business is booming. According to the latest data from STR, in Q1 2018 occupancy rates across the region ticked up 1.5 percent, while ADR spiked 3 percent to a very healthy US$112.48. Perhaps more importantly though, RevPAR surged 4.5 percent. The strongest growth was seen in Vietnam, where absolute occupancy levels hit an envious 75.7 percent. That’s the highest national rate for Vietnam since 2007. Read the full story here.