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Back to the Futurecasting

IDeaS Blog 25 July 2017
“Roads? Where we’re going, we don’t need roads!” Those famous words were spoken by a confident Doc Brown as his time-travelling DeLorean careened into the future. Doc and Marty McFly were quite the dynamic duo and, thanks to some seriously cool inventions and a great deal of intuition, these two always achieved their desired outcome in the end.

10 data science insights from the Trainline

eyefortravel.com·Requires Registration 25 July 2017
The discipline of data science is not for the fainthearted but at Trainline, an innovative, independent digital rail platform for rail travel, it’s at the heart of everything As head of data science at Trainline, Fergus Weldon, who will be speaking at EyeforTravel’s Smart Travel Data Summit 2017, is at the coalface of innovation. In an exclusive interview he shares ten things he knows about data science today.

5 Tech Nightmares in Hospitality Management (and How to Prevent Them!)

Glion Blog 25 July 2017
Why All Hospitality Management Professionals & Businesses are Vulnerable… In the realm of hospitality, customer satisfaction and fidelity are vital and technology can either nourish or damage that relationship. It’s probably one of the most vulnerable industries for tech fiascoes for three main reasons:

Why travel brands need to up their chatbot game

eyefortravel.com·Requires Registration 24 July 2017
In a final taster from EyeforTravel’s latest white paper on chatbots we find that travel brands still have work to do Chatbots are a potential route to billions of consumers but travel brands are failing to fully take advantage of their possibilities, according to a recent report from EyeforTravel and Travelaer titled Are Bots Worth the Bother?

How Spas are Using Technology to Elevate Guest Service

SMS Blog 21 July 2017
There is both an art and a science to providing guest service, particularly for hotel and resort spas where guests have high expectations. While remaining focused on classic guest service, many spas are deploying technology to assist them in executing their high-touch service efforts. As the dominant generation shifts away from the Baby Boomers towards Millennials, embracing technology to support guest service is one way that spas can be relevant and welcoming.

Shifting Cancellation Policies Creates Revenue Management Issues

Duetto Research Blog 21 July 2017
As expected, once Marriott International implemented new guidelines that in general require guests to cancel reservations 48 hours in advance of arrival, other mega brand companies are making similar moves. The shift, now enacted by both Marriott and Hilton, presents new challenges as well as opportunities for all revenue managers. Extending cancellation policies is the latest in an ongoing trend by hotel companies to tighten their grip on consumers’ booking habits. Until 2015, most chains and properties allowed penalty-free cancellations until 6 p.m. the day of check-in. Then, most chains changed to a 24-hour penalty-free window. Now, Marriott and Hilton might be the leading edge of an industry-wide shift in cancellation policies.

How AI Is Already Changing Business

harvardbusiness.org 20 July 2017
Erik Brynjolfsson, MIT Sloan School professor, explains how rapid advances in machine learning are presenting new opportunities for businesses. He breaks down how the technology works and what it can and can’t do (yet). He also discusses the potential impact of AI on the economy, how workforces will interact with it in the future, and suggests managers start experimenting now. Brynjolfsson is the co-author, with Andrew McAfee, of the HBR Big Idea article, “The Business of Artificial Intelligence.” They’re also the co-authors of the new book, Machine, Platform, Crowd: Harnessing Our Digital Future.

Cyber experts have warned that the travel industry as a whole is particularly exposed to criminal activity

Guestline Blog 20 July 2017
At a special Travel Weekly summit, a group of travel experts examined the growing threat from cyber criminals and what travel firms can do to protect themselves from attack. We heard from experts in cybercrime and data security. It covered fraud, security, cyber-crime, compliance, payments, data, company structures to cope with all this and disaster recovery. In the hospitality industry, as in the wider travel industry, it has become vital that IT security is given priority focus as firms become increasingly global, embrace new forms of payment, outsource to third-party Software as a Service (SaaS) solutions and move to cloud computing. The threat of cybercrime has never been so acute as some major companies outside of the travel sector have found to their cost. Indeed, most recently here in the UK we have also seen the widespread chaos in the NHS that the huge ransomware attack brought about.

Guestline announce partnership agreement with Digital Alchemy

Guestline Blog 20 July 2017
Guestline and Digital Alchemy, a leading provider of CRM solutions in the hospitality marketplace, are pleased to announce a partnership agreement. Digital Alchemy's team of hospitality veterans create industry-leading CRM solutions for hotels, spas, and resorts. Their passion for the hospitality industry has driven them to develop digital marketing solutions that drive revenue and empower property management teams to raise the bar for guests like never before. Digital Alchemy has a proven solution that, when paired with Guestline solutions, will allow properties to drill down into customer data and ensure every opportunity to drive revenue is optimised. They offer pre- and post-stay targeted email communications, including Confirmation Emails, Pre-Stay Reminder Emails, PostStay surveys, targeted email offers and more. Digital Alchemy’s professionals are dedicated to increasing guest engagement while turning your guests into customers for life.

The Importance of Rate Parity for Travel Brands

Koddi Blog 19 July 2017
When it comes to pricing, travel brands are currently facing two sets of online competition. The first is fellow travel brands within their competitive set, with whom they’re vying for visibility and popularity among the same group of customers. The second is their own rates, as represented across the rest of the web from other advertisers.

Sometimes 'Small Data' Is Enough to Create Smart Products

harvardbusiness.org 19 July 2017
When thinking about practical applications for artificial intelligence in your business, it’s easy to assume that you need vast amounts of data to get started. AI is fueled by data, and so it only makes sense that the more data you have, the smarter your AI gets, right? Not exactly.

Positive Profit Performance Through Revenue Culture

IDeaS Blog 19 July 2017
As hotels concern themselves more with rising reservation acquisition costs and the need to competitively differentiate through loyalty programs, unique stay experiences and personalized offers, a sound revenue strategy is even more prevalent. They need to provide strong earnings results each quarter that demonstrates their ability to enact a disciplined and agile revenue strategy that increases net income. The post Positive Profit Performance Through Revenue Culture appeared first on IDeaS.

UK Hotels Encouraged To Vary OTA Pricing

Duetto Research Blog 19 July 2017
The U.K. Competition and Markets Authority has called upon hoteliers to compete directly with the OTAs on price. The CMA has urged hotels to offer a lower price on other OTAs than on Expedia or Booking.com, and to offer extras in the price, such as breakfast. The call to action came after a recent Europe-wide study of hotel, OTA and metasearch site pricing found that 79% of hotels had not varied the price of rooms across OTA platforms since 2015.

Take TV Beyond the Living Room With a Unified, Multiscreen TV-Delivery Platform.

Adobe Digital Marketing 19 July 2017
In Anytown, USA, a family of four is gathering in the living room to watch some TV, but they’re not all watching the same show. Mom and son are streaming Stranger Things on Netflix, Dad is catching the fifth inning of the Cubs game on his iPad, and their ‘tween daughter is glued to this week’s episode of The Great British Baking Show on her smartphone. And, as Mom heads to the gym and the kids leave to hang out with friends, each of them expects their mobile devices to pick back up right where they left off.

The Value of Time for Hotels' Revenue Strategy

Duetto Research Blog 18 July 2017
Hotel revenue managers are tasked with making money, but first they have to make time. Requests for numbers never stop coming in — whether it’s the owners wanting RevPAR performance at a glance or GMs needing an operational forecast — and meeting those needs for reports can take up too much of a revenue leader’s time. But finding ways to automate reports, forecasts, budgets and data visualization gives a hotel company the bandwidth it needs to think more strategically and yield rates intelligently, says Susie Rossi, VP of revenue management and training for Oxford Corporate. She recently led the adoption of ScoreBoard, Duetto’s cloud-based application for forecasting and data reporting, at Oxford’s 18 hotels in Oregon, California, Washington and Idaho.

SnapShot and StayNTouch Partner to Provide Hotels Across the US with a Smarter Analytics Tool

Snapshot Blog 18 July 2017
SnapShot, leading provider of fully integrated applications and analytics for the hospitality industry, announced today that it has joined forces with the American hotel property management systems company, StayNTouch. Through this partnership, StayNTouch customers will have complimentary access to SnapShot’s trademark Analytics dashboard, which provides hoteliers with in-depth insight into their properties’ happenings, on and offline.

Hotel HVAC Systems - What Are My Options? Part 1

Hotels University 18 July 2017
Hotel owners estimate that hotel guestroom energy consumption accounts for approximately 40% to 80% of total building energy use. This is a very high percentage of a hotel’s operating budget so guestroom HVAC systems are not something that should be taken lightly. We often field questions about what HVAC system is right for a hotel so we thought it would be valuable to prepare a newsletter series to explore and discuss these options with you.

Revenue Strategy Forum Hong Kong Prepares Hoteliers for the Next Wave of Challenges

Duetto Research Blog 17 July 2017
When it comes to hospitality analytics, it’s hard to ignore the recent airtime devoted to and levels of interest in the topic of machine learning. The industry has been humming with how machine learning, specifically, helps hoteliers streamline much of their current time-constrained, manual processes – freeing up valuable time to focus on their revenue strategy in the process.

3 ways for hotel revenue managers to beat the competition

eyefortravel.com·Requires Registration 17 July 2017
A new report from EyeforTravel delves into ways that revenue managers can aggregate data streams more effectively The impact of competition is the biggest headache facing revenue managers tasked with creating pricing and distribution strategies, finds EyeforTravel’s latest report - Aggregating Data Streams for More Effective Revenue Management report. In fact, half of the revenue managers surveyed said that their competitors create difficulties when trying to set their own pricing strategy. Unforeseen events are the next biggest challenge for 43.8% of respondents, followed by attribution of the sales channel. The challenge of accurate attribution is an issue that comes up time and again in EyeforTravel research.

How Does Outsourcing Reduce Cost?

EDUCBA 17 July 2017
outsourcingOutsourcing has become an easy and cost effective technique, which is used widely in today’s digitization world. The developed countries prefer outsourcing their business processes to the developing countries like India. Before going any further we first need to know what exactly outsourcing means. Outsourcing is a process in which companies and organisation hand over work to outside vendor. Any work process which can be handled from outside location of the organisation, can be outsourced. This process is also known as offshore outsourcing. Offshore outsourcing allows the organisation to obtain high quality services at a low operational cost.

These Are the 4 Reasons Every Property Benefits From a Channel Manager

cloudbeds.com Blog 14 July 2017
Channel managers are invaluable to properties of all sizes. Once just a “nice-to-have” channel managers have become a virtual “must-have” over the past decade. Large hotels have been using channel managers, or something like it, for decades, but now they’re available at a low cost to even the smallest hostel or boutique hotel.

Competition Authority Urges Hotels to Step Up Pricing Strategy

Net Affinity | Conversion Optimisation for Savvy Hoteliers 14 July 2017
This week, the Competition and Markets Authority encourages hotels to step up their pricing strategy on OTAs. After finding that 47% of hotels surveyed were not aware that Booking.com and Expedia had agreed to drop price parity clauses, they published guidance for hotels on varying their prices across different OTAs. Additionally, data insights have been published to reveal what companies across the travel space should focus on to improve their search visibility. These include a ‘highly browsable experience,’ meaning one designed for easy navigation and focused on relevant content. You can also take a look at articles from the week on becoming mobile-friendly, building hotel loyalty programs, and marketing mistakes.

The Core RM Concept Every Brand Revenue Manager Should Know, But Doesn't

OWL Hotel Analytics and Optimization >> Hotel Analytics and Optimization Blog 14 July 2017
Would it make sense to only know how to do math using a calculator? Even in our hi-tech society, it is not OK to NOT understand the fundamental processes of adding, subtracting, and multiplying just because you have a machine than can figure it out for you. I think most of you would agree with that opinion. Yet, in the Hotel Revenue Management function, the most mathematical function of the hotel industry and one of the most mathematical functions of any industry, most RMs using Brand RMS systems to make rate decisions have no clue how the software calculates forecasts and suggested rates. At best, that’s just odd, at worst, it is outright irresponsible to the hotel’s stakeholders.

The One RM Concept Every Brand Revenue Manager Should Know

OWL Hotel Analytics and Optimization >> Hotel Analytics and Optimization Blog 14 July 2017
Would it make sense to only know how to do math using a calculator? Even in our hi-tech society, it is not OK to NOT understand the fundamental processes of adding, subtracting, and multiplying just because you have a machine than can figure it out for you. I think most of you would agree with that opinion. Yet, in the Hotel Revenue Management function, the most mathematical function of the hotel industry and one of the most mathematical functions of any industry, most RMs using Brand RMS systems to make rate decisions have no clue how the software calculates forecasts and suggested rates. At best, that’s just odd, at worst, it is outright irresponsible to the hotel’s stakeholders.

IDeaS: Taking the Direct Approach

nSight | Humanizing Travel Intelligence 13 July 2017
Today’s highly competitive hospitality environment makes increasing the amount of direct business a hotel secures a top priority for all property owners. Direct business comes with fewer third-party fees, higher profit margins and ultimately supports a hotel’s bottom line, and there are several tactics and strategies that help drive more direct bookings for hotel properties.

Hotel Data Security: Understanding the difference between PCI and PII compliance

Travel Tripper Blog 13 July 2017
Data security is becoming an increasingly important issue in the digital age. In the past few years, companies such as Facebook, Amazon, and Yahoo have all suffered from high-profile breaches that have involved personal details of their users being leaked. When it comes to data security, the hospitality industry has proven to be especially vulnerable to attack. A 2016 report by Trustwave revealed that the hospitality sector had the second largest share of data incidents by industry at 14%. In February 2017, InterContinental Hotels Group announced a series of unauthorized charges had been carried out on payment cards of their guests.

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