NEWSLETTER MARCH 2011
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LAUNCHING THE HOSTEL REVENUE MANAGEMENT TOOL
The hostel sector has always been regarded as inferior to the hotel sector in terms of professionalism. STAY WYSE will help hostels overcome this hurdle by providing you with a tool which will help you grow your business.
Are you carrying the STAY WYSE logo?
Ever heard of benchmarking and revenue management? Benchmarking is a widely used process in the hotel sector which can help you amongst others, manage your revenue. The idea is to compare your operations against your competitors; operators of a similar size, or with a similar target market. Benchmarking is considered to be a major part of business development as it gives hotels a clear and thorough understanding of which things need to be achieved in order to be the best. The purpose of benchmarking is to learn from others and not to reinvent the wheel. STAY WYSE has partnered with a benchmarking industry expert, the Benchmarking Alliance Nordic AB, ! and developed a benchmarking tool specifically for the hostel sector. The tool will, unlike hotel tools, allow competitor comparisons according to beds and rooms (the hotel sector currently only looks at rooms).! “The backpacker industry needs this new STAY WYSE tool to become as savvy !as the hotel sector . To be able to compare our statistics! to our competitors is crucial in growing our business and should be part of any hostel's strategy.!“ Lorraine O’Reilly – hostelworld.com In summary the tool will allow you to see what your competition is doing and by knowing this you will be able to adjust your rates to increase sales. To gauge the interest for such a tool, STAY WYSE is currently requesting hostel operators to complete the following short survey.
ARE YOU CARRYING THE STAY WYSE LOGO ON YOUR WEBSITE? It was agreed at the STAY WYSE AGM that all members would be required to carry the STAY WYSE logo and link to the STAY WYSE website on their website. A range of STAY WYSE Banners are available online for download for STAY WYSE members. Highlight your membership of the only global forum for Youth Travel Accommodation providers and your dedication to providing safe, clean and affordable travel accommodation to your customers. Don’t forget to link to www.staywyse.org!
Hostel Business Tool Increase your revenue
Hostel Skills Exchange Follow the latest update WYSTC 2011 Barcelona, September 20-23 The Hoscars YHA: Australia Needs You UK to scrap star reviews HI launches new website Welcoming New Members A bed bug sniffing dog Generator Wins
MEET THE BOARD Chairperson
Mr Ulises Ortega Mundo Joven Mexico
Board Members Lorraine O’Reilly Hostelworld Ireland Mikael Hansson Hostelling International United Kingdom David Chapman International Students House United Kingdom Steve Lowy Umi Hotels United Kingdom John Dickson Hostelling International United Kingdom
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Published on Mar 4, 2011
Published on Mar 4, 2011
Containing information on STAY WYSE membership, the latest STAY WYSE newsletter and the executive summary from the latest annual youth trave...