Today's Revenue Management thought:-
Social Media reviews are impacting channel conversion & loyalty.
While some loyalists will stay true to a brand - weighed with a loyalty card in their wallet - casual preferred brand travellers will begin to weigh social media versus brand loyalty and factor price even more as part of their decision criteria.
One can see the almost instantaneous effect of a bad review, with an immediate dip in conversion, which then affects booking windows and channel-shift strategies.
Social media is a constantly evolving platform to engage with travelers. Hotels that connect that engagement to revenue management strategies and find ways to incorporate this intelligence into their day-to-day revenue plans will lead their competitive sets and ultimately find themselves ahead on the bottom line.
Have a profitable week.
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