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Lybra at Travel Tech USA & Canada Masterclass

New revenue management strategies to help North American hotels

Lybra’s Revenue Management Expert, Erik Muñoz, Featured in Travel Tech USA & Canada Masterclass

On March 10, Erik Muñoz, CCO at Lybra, was one of four panelists on a Revenue Management panel at Travel Tech USA & Canada, the largest travel technology education event worldwide, which was created to teach North American hoteliers about the significant benefits in investing in operational technology today, to establish a strong foundation for a better financial future, tomorrow.

During the session, Erik – joined by other experts from RM Hub, eRevMax & Uplift Hospitality – discussed new revenue management strategies to help North American hotels reach financial recovery more quickly.

A few of Erik’s HOT tips:

  • All hotels in North America should check out TripAdvisor Plus! It presents great benefits for hotels, as a way to increase demand to their property – and because it’s still new, there’s a great opportunity to be an early adopter and capture more of the demand for travelers who are ready to restart traveling again.
  • Many North American hotels are worried about how to compete with vacation rentals, RV-rentals companies or campsites, but Erik’s advice was that hotels needed an important change in their mindset in today’s challenging times:

“Your competition isn’t Airbnbs or other vacation rentals, campsites, RVs, etc.; your competition is actually other hotels in your destination because customers are looking for a very different thing when booking a vacation rental vs. a hotel.” 

Erik also offered a few tips to make hotels more attractive to guests who might (generally) prefer vacation rentals to hotels:

  • Communicate about all of the cleanliness procedures that your property has implemented to calm customers’ fears.
  • Create exclusive, interesting, personalized experiences for guests at your property. Provide better-than-average customer service and travel experiences, because that is one of the reasons that people choose vacation rentals (over hotels). For example, leave a free bottle of wine, along with a list of your favorite “local hot spots” to help guests have as much of a local’s experience as possible. 

Watch the full Travel Tech USA & Canada Masterclass to hear all of Erik’s revenue management tips for North American hoteliers here!

To book a one-on-one meeting with Erik Muñoz to learn more about Lybra’s Assistant RMS, please visit traveltech.space/en/lybra-tech/

 

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