The revenue opportunities hiding in plain sight

This week, we're uncovering hidden treasures in hospitality. Explore untapped revenue opportunities hiding in plain sight at your hotel (because every dollar counts), get the deets on Dolly Parton’s dazzling new hotel (a tribute to her iconic charm and legacy) and learn about the transformative power of mentorship in the hospitality industry. Whether you're here to maximize profits, find inspiration or learn from the best, this edition has something for everyone. Dive in!

Fifteen years ago, during her more than six-year stint as an employee of the Hyatt Regency Atlanta, Davonne Reaves dreamed of owning her own hotel. “I just wanted to always have the top position no matter what I was going to do,” Reaves told The Atlanta Voice during an interview. “What’s the top position at a hotel? The owner.” Now, the founder and chief hospitality strategist of The Vonne Group is not only a hotel owner, but also a hotel consultant, asset manager and published author striving to make hotel ownership more accessible to underrepresented Americans. As the new year begins, she shares some of her hard-earned wisdom.

What three things are most important for hotel owners to make sure are in order at the beginning of the calendar year?

Ensuring that financial plans and budgets are in place is crucial. This includes setting revenue targets, managing expenses and planning for capital improvements. A solid financial foundation helps navigate the year ahead with confidence. Also, investing in staff training and development is essential. Well-trained staff enhance guest experiences, leading to positive reviews and repeat business, while regular training sessions keep the team motivated and aligned with the hotel's goals. When you take care of your staff, your staff will take care of your hotel guests and your hotel. Continuously improving the guest experience is vital. This could involve upgrading amenities, implementing new technologies or refining service standards. A focus on guest satisfaction can set a hotel apart from competitors. 

What trends are you seeing in hotel ownership and investment that hotel owners should prepare for in the next five years?

There's a growing demand for sustainable practices in the hospitality industry. Hotels that adopt eco-friendly initiatives, such as energy-efficient systems and waste reduction programs, will likely attract more environmentally conscious travelers. The integration of technology, from contactless check-ins to personalized guest experiences through data analytics and artificial intelligence, will continue to shape the industry. Staying ahead in tech adoption can enhance operational efficiency and guest satisfaction. Diversifying revenue streams beyond traditional room bookings, such as offering unique experiences or partnering with local businesses, can provide stability and growth opportunities. 

What is the advice you share most often?

As the founder of The Vonne Group, the advice I often share is to focus on building strong relationships with guests and the community. Personal connections and community engagement can drive loyalty and create a positive reputation.

Why should more people venture into hotel ownership?

Encouraging more people to venture into hotel ownership opens doors to economic empowerment and diversification. Hotel ownership can be a rewarding investment, offering opportunities for personal and professional growth while contributing to local economies.

Displaced and devastated. If only it would rain in Southern California. Hotels are providing respite and support to those affected by the Los Angeles wildfires, but, notes AHLA Foundation’s president, “It is during moments like these that the hospitality industry shines.”

Is there anything Dolly can’t do? As January 19 is Dolly Parton's birthday, we thought it only fitting to let you know that she’s adding hotelier to her list of many talents after announcing plans to open the Songteller Hotel in downtown Nashville.

Dining, essentials and indulgences — delivered. Hilton has expanded its Grubhub Onsite program to more than 2,600 Hilton properties in the Hampton by Hilton, Tru by Hilton and Spark by Hilton brands, following the success of Grubhub’s partnership at Homewood Suites and Home2 Suites. 

Go green and prosper. Support for sustainable approaches is swelling as hotel operators recognize that investing in energy efficiency can lower operational costs and enhance cash flow.

From dishwasher to hospitality mogul. In this episode of The Hospitality Mentor podcast, Indigo Road Hospitality Group founder and managing partner Steve Palmer discusses the importance of mentorship, the value of developing a strong company culture and the challenges of entrepreneurship.

Position yourself for success

Based on Skift's Megatrends session in NYC last week, marketing and digital teams have one big question to address: If AI is deciding what to show travelers, how do you ensure your brand is chosen? According to chief marketing officer Carla D’Allessandro — who most recently was the CMO for the José Andrés Group and now runs her own marketing services firm — the future of travel planning will hinge on balancing AI, brand authenticity and direct bookings.

Why it matters: The future of SEO is at stake. D’Allessandro says blending traditional principles with new AI-driven realities will power search. “For brands to thrive,” she notes, “the answer lies in a strategic reset — one that prioritizes AI-first search and direct booking traffic like never before.” (LinkedIn)

Hyatt Hotels — Livin’ la vida loca?

Playa Hotels & Resorts is currently the topic of conversation for Hyatt Hotels, which is reportedly looking for a potential acquisition of the prominent operator of luxury all-inclusive resorts in Mexico and the Caribbean. Playa chairman and CEO Bruce Wardinski called Hyatt’s interest “a testament to the strength of our business.”

Why it matters: The deal would broaden Hyatt's already leading presence in the all-inclusive market, an area where rivals such as Marriott, Hilton and IHG are also expanding. After purchasing luxury resorts operator Apple Leisure Group for $2.7B in cash in 2021, the company's footprint then grew to 46 properties in Mexico and 27 properties in the Caribbean, and brought the Hyatt brand into 11 new European markets. “We’re very bullish on leisure travel," Mark Hoplamazian, president and CEO of Hyatt, said on an investor call following the 2021 deal. "It’s proven its resiliency and durability." Looks like his sentiments haven’t changed. (Hospitality Design)

Love Mint Pillow? Then we think you'll also love the Hospitality Daily podcast — your daily dose of actionable hospitality wisdom. Each morning, you'll get one powerful new idea to enhance guest experiences and boost your profits, straight from the industry's most innovative minds.

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• Billion-Dollar Boutique Blockbuster: The Story Behind Lark Hotels’ Joint Venture with Life House
• The Untapped Potential of Catering to Kids, Teens & Families in Hospitality
• Rethinking Hospitality: Bold Moves for 2025 and Beyond
• Hoteliers' Biggest Opportunity in 2025

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Revenue opportunities are hiding in your hotel

For former hotel general manager Christine Malfair, elevating the guest experience comes down to one key tactic. “Take notice of how your guests use your spaces,” she says. Malfair, founder of Malfair Marketing, identifies key marketing strategies most hotels are missing and how vendors can better market to hotels.

Why it matters: Opportunities abound to increase guest spending during a stay. Taking note of where friction is showing up in different spaces allows owners and operators the chance to turn challenges into wins. (Adventures In Business Live!)

Foster team engagement, boost results

Spire Hospitality CEO Chris Russell knows a thing or two about building teams — he once grew a 6,000-employee organization from the ground up in just three years. He’s optimistic about the year ahead, though recognizes that the hard work, dedication and resilience that hospitality employees and colleagues have demonstrated over the past few years are what got us to a place where optimism is possible. He says he’s committed to creating a fantastic working environment, being a stronger leader and creating the type of hospitality environment that he would want to work in every day. He does this by showing appreciation spontaneously, paying fairly and rewarding results, listening more, committing to a peer mentorship program, and ensuring positive departures.

Why it matters: By recommitting to your employees’ well-being, Russell says that you can strengthen your culture, improve your business and create a working environment primed for expansion. “Fulfilled, happy employees are the best to work with, and [I] urge you to consider how you can make the most of opportunities to do right by them in the new year so you, too, can thrive in '25.” (CoStar)

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