Daniel Shapiro, director and founder of the Harvard International Negotiation Program, has negotiated some of the most challenging conflicts with heads of state, corporate executives and even families. Shapiro recently joined us on the Knowledge@Wharton show on Wharton Business Radio on SiriusXM channel 111 to talk about his new book on the subject, Negotiating the Nonnegotiable: How to Resolve Your Most Emotionally Charged Conflicts.
Your booking engine is more than a place of transaction or a page for your guests to check prices, room types and availability. Your hotels booking environment also holds a goldmine of free data, but only if you take the time to unearth it.
Its all too easy to blame OTAs for your hotels shrinking profits by pointing fingers at their costly commissions and frustrating policy of withholding customer contact information. But, in reality, the biggest battle you face isnt so much against the OTAs, but rather the mindset of OTA customers.
For most hoteliers, establishing rates is a rational, practical task based on analysis of the market and historical trends. But, your hotels bottom line could be missing a key dimension when deciding on room rates: price psychology.