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Global Newsletter: February 11, 2021 4Hoteliers.com ~ Click title to read the article Thursday, 11th February 2021
Recovery rates for Asia Pacific IVA growth varied and uneven to 2023, Happy Chinese New Year! and the paradigm shift in revenue management.
Recovery rates for Asia Pacific IVA growth varied and uneven to 2023 Thursday, 11th February 2021
By the end of 2023, international visitor arrivals (IVAs) into and across the Asia Pacific region could return to 96% of the volume of foreign arrivals received in 2019, at least under a mild scenario.
The less fortuitous medium and severe scenarios, however, could see those proportions reach just 74% and 49% respectively, at that time.
This is according to the full report of the Asia Pacific Visitor Forecasts 2021-2023 released today by the PATA, where three growth prospects for international visitors into and across 39 Asia Pacific destinations are made, covering mild, medium and severe scenarios >> Three companies combined account for 67% of the projects in the total US construction pipeline 11 Feb 2021 : The franchise companies with the largest US construction pipelines at year-end 2020 are Marriott International, followed by Hilton Worldwide and InterContinental Hotels Group (IHG) >> Six Senses Botanique opens in Brazil 11 Feb 2021 : Today marks the official entry of Six Senses Botanique into the Six Senses portfolio. This emerald lies at the confluence of three river valleys in the heart of the Mantiqueira Mountains, known as the 'mountains that weep' due to the abundance of springs and rivers >> Let's welcome the Year of the Ox: Happy Chinese New Year! 11 Feb 2021 : We are entering soon the Year of the Ox and we would like to take this opportunity to wish our readers and their families a happy and prosperous new year ahead >>
Data Science: The Paradigm Shift in Revenue Management Thursday, 11th February 2021
What is a paradigm shift in revenue management?
I am often asked to explain what a paradigm shift is, as it relates to hospitality demand forecasting in revenue management and, as a data scientist, I have difficulty explaining the meaning in a simpler way.
Creating forecasts that are not (or minimally) based on historical data, but using forward-looking data, is a truly complex analysis exercise, especially in the tourism industry and in revenue management >> The Show Starts When the Phone Rings 'Everything that happens leading up to the sale is part of the customer experience >> The Problem Isn't the Employee, It's the System There are plenty of employee surveys that point to the number one reason people quit their jobs. Many people think it’s money, but it is actually due to a lack of appreciation from their boss >> In case you've missed it: Global eNews of February 10, 2021 Accor announces the global launch of 'Accor Key', Marriott opens its 50th hotel in the Shanghai region and hospitality trends that require a shift in strategy >>
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