Timothy R. Wiersma

2 weeks ago | hospitalitynet.org | Max Starkov |Timothy R. Wiersma |Vassilis Syropoulos |Alessandro Crotti

Recently, the Switzerland's price watchdog (Der Preisüberwacher / Le surveillant des prix) ruled that Booking.com's hotel commissions were "abusively high" and ordered the OTA to lower them by 25% for Swiss hotels. Some industry executives and revenue managers applauded this ruling and called it "a bold move that was overdue." Their arguments are that hotels have been squeezed for years, commissions haven't evolved with the market, etc.

Dec 10, 2024 | hospitalitynet.org | Timothy R. Wiersma

Hoteliers who harness the potential of BI and AI to shape effective strategies will be the ones who succeed in the years ahead. With margins increasingly tightening, simply following market pricing and trends risks falling into the trap of trying to recover profitability in the wrong areas. Recently I was engaged with an independent hotel located in a major urban market in eastern Canada.

Apr 24, 2024 | hospitalitynet.org | Timothy R. Wiersma

In a recent conversation I had with an asset manager who was underwriting a hotel in the metro Atlanta area, it was determined that for each incremental 50k of profit achieved, the hotel asset value went up approximately 600k. Imagine if your revenue team fully understood this.

Nov 23, 2023 | hospitalitynet.org | Timothy R. Wiersma

Ever wonder where the expression “that is like trying to turn the Queen Mary” comes from? It is actually a UK-based metaphor and comes from the fact that large ocean liner vessels, like the Queen Mary, can take up to 10 nautical miles to slow down enough before they can initiate a turn. How many of us find ourselves in situations like this as we try to turn a hotel asset position around? One of the more challenging assignments in my career was working for a big box hotel in downtown Toronto.

Nov 23, 2023 | bytes.hitec.org | Timothy R. Wiersma

— By Timothy R. Wiersma - Principal | Revenue Generation, LLC. 23 November 2023 Photo: Revenue Generation LLCEver wonder where the expression “that is like trying to turn the Queen Mary” comes from? It is actually a UK-based metaphor and comes from the fact that large ocean liner vessels, like the Queen Mary, can take up to 10 nautical miles to slow down enough before they can initiate a turn. How many of us find ourselves in situations like this as we try to turn a hotel asset position around?