Robert Holland, Managing Director UK & Ireland, HotelPartner Revenue Management, discusses the importance of relearning one of the world’s oldest trades, to ensure that independent hotels stay one step ahead of their competition.

Independent hoteliers may not always feel like it, but they are in an incredibly strong position, even when competing with the larger brands, because they can be nimble.

If you are part of a large brand stable, not only are fees adding a cost, but your position in the brand hierarchy means that you are limited in how flexible you can be in pricing. You cannot be cheaper than the brand beneath you. You cannot be more expensive than the brand above you. You know your place. Whereas an independent hotel can be as expensive as a five star hotel or as cheap as a three star hotel; all within the same day.

But to do this, you must constantly educate yourself about the market around you. It is easy to think that the hotel sector has offered the same product for thousands of years - a bed, maybe some food, maybe a bath - and all that has changed, is whether you offer a croissant with the buffet, but the reality is that hotel operations are significantly different, even when you look back a decade.

Think about Seve Ballesteros and the golf clubs he was using in the 1980s. If he was competing against Scottie Scheffler or Rory McIlroy with their modern clubs, he is unlikely to be competitive. Since he was winning tournaments the sport has attracted huge investment from equipment suppliers, introducing a variety of modern materials and infinite options and although it might look like the same game, it’s very different.

The modern GM is undoubtedly an expert in their field. They have risen to the top, but to stay that way and to stay ahead of the brands, they have to stay informed. They have to learn how to use the new tools.

Do the brands employ better GMs? They are bound to say not. Do they have better staff? I don't think so. Do they have nicer bedrooms? Not necessarily. Do they have access to more knowledge about what they're doing? Maybe a little. Do they have better technology? Possibly. So, how can a GM level that playing field? In order to perform at their very best, they have to make sure that they are equipped with the latest innovations and they should understand what they are.

They should be attending industry events to learn about new innovation. They should be listening to their peers about what they are using. They should be speaking to their teams and find out what they know. They need to get a 360 degree view around them, because at the end of the day, as the GM, it's often their decision and they need to be as well informed as possible.

With so much of their business originating through the online channels, they need to understand how these channels work, and they have to keep abreast of the changes within them and what impact they might have on their market. The more they understand about what their competition are about to do, the better they can prepare themselves for it.

If they knew that the hotel next door was undergoing a major refurbishment, they would plan for that, or if they knew that a new hotel was opening around the corner, adding 150 bedrooms, they would plan for that. Being informed means that independent hoteliers can make quick decisions which can have a positive impact on their revenue and which puts them ahead of the competition.

At HotelPartner we believe in combining our decades of knowledge and experience in hotels with  technology and we are exploring AI to further assist as we create bespoke strategies which maximise both revenues and profits. And ensure you stay ahead of the crowd and more than on par with your rivals.

Florian Augustin, Deputy CEO & CCO at HotelPartner Revenue Management, will be joined by Michael Mitterhofer, CEO of ReGuest, in the Social Business Space, sponsored by HotelPartner, at 12:30pm on 15 October to discuss the topic 'People first in an AI world: Crafting guest-centric revenue strategies in hospitality'.

This will be followed on 16 October at 11:45am by the session 'Personalised revenue management meets intelligent guest communication: The secret to optimising your bottom line?' featuring Katherine Doggrell, Co-founder of NewDog PR, Florian Augustin, Deputy CEO & CCO of HotelPartner Revenue Management, and Michael Mitterhofer, CEO of ReGuest.

To learn more about everything happening at this year's show, and to register for your complimentary trade ticket, click here.