Cookies on HFTP Bytes

This site uses cookies to store information on your computer. Some are essential to make our site work; others help us give you the best possible user experience.
By using the site, you consent to the placement of these cookies. However, you can change your cookie settings at any time. Read our Privacy Notice to learn more.

I understand
  • Next Event

    HITEC DUBAI

    Hospitality Industry Technology Exposition & Conference

    December 5–6, 2018
    Dubai, UAE

  • Upcoming Event

    HITEC EUROPE 2019

    Hospitality Industry Technology Exposition & Conference

    April 10–11, 2019
    Palau de Congressos
    Palma, Mallorca - Spain

  • Upcoming Event

    HITEC MINNEAPOLIS

    Hospitality Industry Technology Exposition & Conference

    Minneapolis Convention Center

    June 17-20, 2019

Article by Jason Q. Freed

Best Quotes from Center Stage at Phocuswright

Duetto 16 November 2018
Of all the travel industry conferences, no one could argue that Phocuswright is among the best at getting today's brightest and most influential leaders on stage. The conference kicked off this week in Los Angeles, and if you're not there you can stream most of the sessions on the conference website. We're paying closest attention to what the hoteliers and hotel intermediaries have to say, of course. Here's a rundown of yesterday's highlights from the stage.Maud Bailly, Chief Digital Officer, AccorBailly is in the midst of leading Accor's digital transformation, focusing on streamlining and personalizing the entire guest experience, from booking through on-property and post-stay. She's got big ambitions and she's not afraid to move quickly, testing constantly and scrapping ideas quickly that aren't improving the guest experience. Her challenges are making everything simpler yet at the same time creating experiences that speak to travelers across the globe, when sometimes Western travelers prefer a different experience than Eastern travelers, for instance.Richard Holden, VP of product management, GoogleRichard Holden, VP of product management at Google, discussed the search giant's continued and strengthened mission of providing users with the knowledge and answers that will best help them make decisions. Pressed on whether those answers should come from Google, which has inserted many of its own products at the top of search results, Holden said the company is confident they are striking the right balance between providing organic information and results that deliver traffic to the company's biggest advertising partners. Holden discussed the evolution of Book on Google, a product that allows travelers to reserve airfare and hotel rooms without leaving Google's site, admitting the product name could be misleading and hinting its name may soon change.Jeff Ma, who joined Duetto in October, is best known for his role on the MIT blackjack team, where he and his colleagues used data-driven decisions to play blackjack more effectively and often beat the casinos at their own game. He talked about how data-driven decision are the best decisions, and that there are analytics out there can help entire industries be more successful. Hotels, he said, are just on the cusp of taking all the available data they have - which is now stored in the cloud and easily accessible - and analyzing it to make the most profitable pricing decisions.Ritesh Agarwal, founder and CEO of Oyo RoomsEverything about Oyo is unique, particularly the facts that their founder and CEO is 24 years old and that their business model has evolved from an asset-light marketing and distribution company to a business that is providing capital and tools to renovate poor-performing assets. Agarwal described that evolution by saying his company went out offering distribution strategies to many struggling economy hotel owners, but when they saw the opportunity to help those owners improve their businesses (while generating some returns in the process), it became a no-brainer.Steve Hafner, CEO, KayakHafner is never one to beat around the bush or mince words, so his appearance on stage is always a crowd-pleaser. He tells it how it is, even if that means throwing his own company under the bus by pointing out their challenges and failures. Regarding Kayak, it's clear that Hafner is bullish on the metasearch space, suggesting there's no real advantage for a traveler to bypass metasearch sites and go directly to on OTA. That said, he also readily admitted that Google has the largest advantage in the meta space and could spell trouble for everyone else.RELATED HOTEL REVENUE STRATEGY ARTICLESPredictive Analytics Ace Jeff Ma Joins Duetto6 Things You Might Not Know About Google TravelThe Blueprint for Taking Business Back from OTAs
commercial

Predictive Analytics Ace Jeff Ma Joins Duetto

Duetto 12 November 2018
San Francisco, November 12, 2018 -- With the increasing importance of analytics to hoteliers today, Duetto has doubled down on its commitment to innovation by hiring Jeff Ma as Senior Vice President of Product and Analytics.Ma joins Duetto, hospitality's only Revenue Strategy Platform, after serving as Vice President of Data Science and Analytics at Twitter, where he led the central data science, machine learning and analytics teams. Prior, Ma gained notoriety as the leader of the MIT blackjack team and was the inspiration for the best-selling book "Bringing Down the House" and hit film "21."Ma served for two years as ESPN's first Predictive Analytics Expert and has founded several successful technology companies, including a sports media and analytics startup Citizen Sports, acquired by Yahoo, and a human capital analytics company called tenXer, which was acquired by Twitter in 2015."For my next chapter, I was looking for a business where analytics were at the foundation of the company's value proposition, and I couldn't have found a better fit with Duetto," Ma said. "The opportunity to apply the 'Moneyball' playbook to the hospitality vertical unlocks huge potential for hotels to excel in areas where they have previously struggled. By leveraging data and analytics, Duetto will revolutionize how hotels achieve greater profitability and personalization and market directly to consumers."Duetto's Revenue Strategy Platform brings together core technologies and data to make them accessible through multi-tenant cloud architecture. With integrations to more than 50 technology partners, the platform serves as a foundation for hotel companies to execute the holistic Revenue Strategy championed by Duetto since its launch more than six years ago. By unifying teams around a common source of dynamic data and a company-wide mission focused on profitability, an organization can become more efficient, drive more direct engagement with customers and capture more revenue."Jeff will bring our product team to the next level by matching the best in Silicon Valley with the best vision in hospitality," said Marco Benvenuti, Duetto Co-founder and Chief Marketing and Strategy Officer. "As the pace of change has accelerated and the threats of digital disruption have grown, so have our efforts to help this industry we're so passionate about. Analytics are at the core of what we do, and I'm excited to see Jeff build out a world-class team of data scientists and help shape the industry's only Revenue Strategy Platform."In February of this year, Duetto announced an $80 million Series D financing round led by Warburg Pincus, a leading global private-equity firm focused on growth investing. The company's flagship software-as-a-service (SaaS) application, GameChanger, brought machine learning, new consumer-centric data and the breakthrough innovation of Open Pricing to the industry, enabling hotel companies to independently price all distribution channels, customer segments, room types and stay dates in real time.
commercial

HQ plus, Duetto Announce Technology Partnership

Duetto 1 November 2018
San Francisco, 1 November, 2018 -- Duetto, the hospitality industry's only Revenue Strategy Platform, has today announced its latest technology integration - with HQ plus.The new interface between Duetto's GameChanger and HQ plus enables joint customers to see the current room rate for a list of chosen competitors, as well as showing competitor averages. The interface pulls rates from a wide range of online distribution channels, including online travel agencies, as well as Brand.com sites from competitor hotels.The integration enables hoteliers using Duetto and the HQ revenue hotel market intelligence software to compare competitor rates to their own, up to 365 days in the future. This will assist hotel revenue managers on both short-term yielding and longer-term Revenue Strategy. The ability to accurately benchmark will enable hoteliers to adapt to market changes in real time."We are very proud of our collaboration with Duetto: Now our mutual customers are able to see in Duetto the rates of their comp set, taken directly from our system. It's a very important first step as we work towards offering our customers even more relevant market data to help them boost their Revenue Strategy," said Roland Hehn, CEO at HQ plus."Through this integration, Duetto customers can leverage channel-specific competitive pricing data from HQ plus direct through our Open Pricing solution, GameChanger. This enables hoteliers to optimise revenue at a marketplace level with greater emphasis on channel contribution and lead time," explained Marco Benvenuti, Chief Marketing and Strategy Officer for Duetto.While finalising their technology partnership, Duetto and HQ plus trialled their new integration with Ruby Hotels."We are happy about the integration of two very strong tools we use in our revenue management. The integration of both systems will help us to gain even deeper market insights," said Tobias Koehler, Group Director Marketing & Commerce at Ruby Hotels.ABOUT HQ PLUS HQ plus is the pioneer of Europe's hotel market intelligence revolution. Since its foundation in 2012, the company has successfully brought forward cutting-edge revenue management technologies. It is now Europe's market leader, serving about 2,000 customers with its innovative software, HQ revenue, and is enjoying a steady growth in foreign markets too.HQ revenue is a leading-edge platform in the revenue management technology landscape that provides accurate real-time data to hoteliers and revenue managers. The product is an effective decision-aiding tool and empowers hoteliers with a complete overview of the most important distribution channels. This allows for quick and efficient analyses and timely reactions to shifts in demand and occupancy, putting HQ revenue customers ahead of their game.Visit https://www.hqrevenue.com for more information.
commercial

Revinate Announces Partnership with Duetto

Duetto 30 October 2018
San Francisco, Oct. 30, 2018 -- Revinate, the software as a service (SaaS) company that helps hotels transform guest data into revenue, today announced a partnership with Duetto, hospitality's only Revenue Strategy Platform, to enhance the power of its guest marketing solution. Now, joint customers will be able to use Duetto's platform and its Open Pricing application GameChanger to dynamically price upsells and upgrades driven through Revinate Marketing. The real-time pricing solution will enable personalized offers to maximize conversion and revenue."Duetto shares our core belief that data can be used to optimize guest lifetime value, driving maximum profit for the hotel, all while delighting the guest," said Dan Hang, Revinate's Chief Product Officer. "Having Duetto's platform work with Revinate Marketing means that our customers will drive more revenue with real-time data and personalized offers.""We believe by partnering with other leading technology companies and keeping our platform open and agnostic we can drive more meaningful results for our customers and hotel companies around the world," said Marco Benvenuti, Co-Founder and Chief Marketing & Strategy Officer of San Francisco-based Duetto. "This is a great example of that and the partnership with Revinate brings brand new functionality and real personalization to an industry starved for it."Hotel Spero in San Francisco is one of the first hotels to use the joint solution in its pre-stay communications with guests. Tomo Kakegawa, Corporate Director of Revenue Management and Digital Marketing, says, "We can already see the difference that dynamic pricing and personalized communications can have on upgrade revenue. We're thrilled that these two software companies have come together to innovate and push the limits of technology to help the industry drive more revenue through data."About RevinateRevinate enables hoteliers to transform their guest data into revenue. With Revinate Marketing and Revinate Guest Feedback, hoteliers are empowered to make smarter decisions, resulting in increased direct revenue and guest engagement. The company is backed by leading Silicon Valley investors, including Benchmark Capital, Tenaya Capital, and Sozo Ventures. Headquartered in San Francisco with regional offices in Amsterdam and Singapore, Revinate counts tens of thousands of the world's leading hotels as customers.To learn more, please visit www.revinate.com.
Article by Jason Q. Freed

How Hotels are Putting Their Data into Action

Duetto 19 October 2018
Hoteliers are still in the infancy stages of using the troves of available data to better serve guests and value rooms properly, according to Balaji Krishnamurthy, Chief Strategy Officer with Sabre.Sabre, with nearly 40,000 hotels using some combination of its CRS, PMS or booking engine, offers an interesting perspective on how hotels can collect, analyze and make decisions on the guest and transaction data available today."It's a big opportunity, but there are big challenges," Krishnamurthy said on a recent Sabre webinar, Leveraging Data Insights to Drive Profitable Growth.He says that hospitality businesses had been solely focused on improving the guest experience until about 15 years ago, when electronic distribution and channel management forced hoteliers to start analyzing different types of demand data."Hospitality has been behind other travel sectors for about 10 years," Krishnamurthy said. "There is a lot of catch-up to do, but the opportunity is big in hospitality."What are today's challenges?Today, one of the biggest issues preventing hoteliers from making their data actionable is technology integration. Nearly all of the different systems in a hotel tech stack are generating some sort of data, and the challenge for hoteliers is bringing all that data into somewhere safe where they can analyze it and get a more holistic view of the guest.The data is not always clean, either. With hotels spreading their inventory across so many channels, the data that comes from each of those systems doesn't always look the same. And when hoteliers use legacy, on-premise systems to ingest and analyze that data, many issues can boil to the surface.Where should we be tomorrow?Krishnamurthy says a good data integration platform in a modern cloud environment can wrangle, clean and harmonize the data.This will pay immediate dividends, allowing hotels to see how each of their channels are performing beyond the surface-level metrics like RevPAR, ADR and occupancy.To start, hotel operators must find and hire the people with the right mind-set: curious people who are great problem solvers, he said, adding, "Talent is critical to extract value out of the ecosystem."Krishnamurthy said there are three concrete examples of applying data analytics to solve hotelier challenges:Distribution planning. Use available data and analytics to help determine where and how to spend your marketing budget. A good start is looking at where your customers came from last year.Revenue leakage detection. Because many of today's pricing tasks are manual, Krishnamurthy says, rates either stay static much of the time or are even lowered and never brought back up. Disconnects to important distribution channels often go undetected. Analytics and AI can help avoid that and close the gap on leakage.Demand forecasting. Many hotels still over-rely on historical data to power their forecast and pricing strategy. Advanced revenue systems can aggregate all of your data - including data from outside hospitality like flight information and guest buying behavior - to formulate a recommendation from all the information that's available."Hoteliers are now able to use AI and machine learning to gain greater insight from their data and start to drive dynamic personalization and next-gen retailing and merchandising," Krishnamurthy said. "Last year, airlines sold $80 billion in ancillaries, mostly fees and bag revenue. Think of what hospitality can do. There is a huge opportunity with what you can retail based on your customer's unique need, using the data you already have."RELATED HOTEL REVENUE STRATEGY ARTICLESHow Your Own Data Resets the Hotel-OTA Relationship on Better TermsDuetto Concepts: Data Quality (Video)Hotel E-commerce Could Get a Boost from Data and Analytics

New Technology to Solve Industry Challenges | By Yasean Lee

Duetto 15 October 2018
At Duetto, we take full advantage of the fact that we're true multi-tenant cloud. We can release new updates and enhancements at any time, pushed to all of our customers at once, and with no downtime. It beats building new versions of software and having to ask users to upgrade all the time.But there's the small stuff, and then the big stuff. We release our gamechanging (no pun intended) enhancements -- our major new products and features -- quarterly, because they take more time to build and we take more time to be diligent.Today is the official date of our 2018 Fall Release. While the new features will only affect Duetto users, our Product team enjoys giving regular peeks behind the curtain to anyone that might be interested. We're working on solving real challenges and pain points to drive profitability for hotels and casinos, and often those solutions are aimed at broader industry-wide problems. So by sharing what we're developing for our customers, we hope to also create new relationships so that we can help all hotels and casinos run more profitable businesses.With that said, here's a glimpse into the highlights of Duetto's new tools and features, coming today.New Toggle Helps Hotels More Accurately Price by Room Type.Being able to forecast demand and dynamically yield each of your room types independently of each other is crucial. You know there are times when your suites are in higher demand, or when the majority of guests are asking for rooms with two queen beds, for example. But are you sure you're charging the right premium for these options? In some cases, are you giving away more rooms than you are upselling?A new enhancement called Room Type Pricing Flexibility now gives hoteliers the ability to toggle the order of operations in which rates are calculated, weighting either segment or room type differentials first or second depending on the hotel's unique demands.New Group Forecast Features Improve Displacement Analysis.Helping hotels and casinos with group revenue management has been a major focus for Duetto in 2018.To start, forecasting group business has traditionally been extremely painful for hotels. They often don't have the right visibility into the group sales funnel, such as an accurate picture of prospects, tentative groups and contracted groups on the books. So Duetto's new group forecast module splits your group business into these three buckets, then takes in your hotel's historical conversion rates to help determine a "wash" percentage.With this increased visibility into your total group pipeline, including the number of contracts that will most likely convert, hotels will now know how many groups to actually sign and what rates to offer. While currently in beta at the moment, you'll see this available across the board very soon.Additionally, for BlockBuster users managing groups that request high-demand days, sales directors now see "Alternate Stay Date Recommendations" and are able to quote in real-time alternative dates that meet said demand and may work better within the group's budget.Alternate stay dates help hotels minimize displacement because you can recommend to group organizers the optimal dates that meet a group's needs, and don't displace transient room revenue.Put Guest and Transaction Data into Action.Personalization is the future, and probably should have been here a long time ago. But hotels are often left wondering how to take the first step, because the void in which all your data is floating around is scary to tackle. So it's exciting to announce new features to help hotels not only manage the data that exists, but also start putting personalization into action.Today, Duetto released a feature called "Loyalty Rate Lookup" that allows your booking engine to obtain a loyalty member's ID and quickly find a personalized offer or tailored rate based on that individual's preferences and value to your hotel.In addition, we're partnering closely with Facebook to allow hotels to show dynamic, real-time prices in their Facebook ads. Until now, Facebook ads have been static, not based on real-time supply and demand or true user search behavior, meaning that users who clicked on an ad in their feed would often not find the rate or availability at the hotel's booking engine.Plenty of more features are coming to you today, so if you're a Duetto user, don't be alarmed at all the new revenue capabilities you have. If you're not a Duetto user but want to learn more, please contact us here.RELATED HOTEL REVENUE STRATEGY ARTICLESNH Hotel Group's Change Management Plans Revolve Around Revenue StrategyHow Chumash Casino Resort Makes Room for More Efficient Strategies5 Tips For Running a Successful Revenue Strategy Meeting
Article by Joanna DeChellis

Taking Blockchain from Concept to Reality

Duetto 15 October 2018
That's exactly what innovator, strategist and Chief Operating Officer of citizenM, Michael Levie, hopes to uncover during the panel discussion he will moderate at RSF London on 5 November called, Hype or Hope: Is Blockchain going to change the industry, or much ado about nothing?"We, as an industry, are behind when it comes to new technology," says Levie, who will also offer the keynote presentation on the benefits to hotels of taking a Blue Ocean approach to business. "There's a certain degree of frustration with some feeling these advancements are not for everyone. But whether or not new technologies, like blockchain, are right for your hotel depends on how you upgrade your own architecture and make meaningful use of the opportunity."The biggest and most obvious blockchain benefits center around distribution and data. New platforms could lower costs of acquisition and give hotels greater control over the distribution process. But taking the technology from a pie-in-the-sky idea, as Levie puts it, to an actual tool remains the industry's biggest hurdle.Panelists - including David Brillembourg of Brillembourg Holdings; Charles Ehredt of Currency Alliance; Khalid Ladha of BlockX Labs; and Christian Lunden of Nordic Choice Hotels - will shed light on what they see as opportunities for blockchain in hotels. Levie will lead the discussion and ask each to offer tangible ideas and strategies for how to implement this young, ground-breaking technology based on their own experiences."There are plenty of opportunities for blockchain in hotels," says Levie. "But it all comes down to how realistic is it for this industry to take that quantum leap."The biggest obstacles from Levie's perspective are scale, affordability and purpose.According to a survey by the World Economic Forum, 58% of executives anticipate that 10% of global GDP will be stored on blockchain before 2025. It is therefore imperative that hoteliers pay attention to this technological revolution. And the best way to prepare is to listen to experts take a deep dive into its potential.RELATED HOTEL REVENUE STRATEGY ARTICLESBlockchain: Loyalty and the Next Generation of TravellerThe Definitive Guide to Hotel Blockchain TechnologyRevenue Strategy Report: How Blockchain Could Disrupt Hotel Distribution and Loyalty
commercial

Hard Rock Hotel & Casino Las Vegas Forms Revenue Strategy Partnership with Duetto

Duetto 8 October 2018
Las Vegas - Hard Rock Hotel & Casino has agreed to implement the cloud-based applications GameChanger and ScoreBoard at its 1,504-room property as part of its new partnership with Duetto, hospitality's only Revenue Strategy Platform.With GameChanger, Duetto's flagship Open Pricing application, Hard Rock Las Vegas will be able to refine its pricing and digital-distribution strategies, including a more sophisticated method for room type pricing across its three different towers of guest rooms, suites and penthouses. ScoreBoard, the cloud solution for intelligent reporting, will better enable Hard Rock to build forecasts, budgets and other crucial reports and share them more easily across the organization for faster decision making.Chris McGahey, Vice President of Hotel Operations for Hard Rock Hotel & Casino Las Vegas, said the property had the personnel to adopt a more dynamic strategy for hotel bookings, but its legacy technology limited both Hard Rock's efficiency and the effectiveness of the gaming industry's typical rate setting and reinvestment practices."We were ready to capitalize on opportunities for greater profitability that we recognized but did not have the ability to address," McGahey said. "We're confident that automating many of our tasks and working with data-driven rate recommendations will make us more dynamic and flexible to meet the property's unique needs. This partnership is part of a long-term transformation of our Revenue Strategy culture."Marco Benvenuti, Co-Founder and Chief Marketing & Strategy Officer for Duetto, added: "Hard Rock Hotel & Casino stands out as one of Las Vegas' most iconic properties, offering everything from world-class accommodations and gaming to an unmatched entertainment experience. The strategies that started it all for Duetto were tailor-made for an integrated resort like Hard Rock, and we can't wait to contribute to the success of this team."Hard Rock Hotel & Casino first opened in 1995 and added the Paradise Tower in 2009 and the HRH All-Suite Tower in 2010.About Hard Rock Hotel & CasinoHard Rock Hotel & Casino is Las Vegas' off-Strip playground, just minutes and less than three miles from McCarran International Airport. Hard Rock Hotel & Casino offers an energetic entertainment and gaming experience with the services and amenities associated with a boutique luxury resort hotel. The property is known for its innovative nightlife and music scene, where acts such as The Rolling Stones, Bon Jovi, Paul McCartney, Incubus, Foo Fighters, Carlos Santana, Motley Crue, Guns N' Roses and KISS have all performed.Features of the property include the newly remodeled 11-story Casino Tower, with 640 rooms and suites; 17-story Paradise Tower, with 490 rooms and suites; the 15-story HRH All-Suite Tower, with 359 suites, eight spa villas and seven penthouse suites, which has received the AA Four Diamond Award; 60,000 square feet of casino space, featuring high-limit gaming and Asian-gaming amenities; 110,000 square feet of flexible meeting and convention space, which was named a Smart Meetings 2016 Platinum Choice Award winner; more than $4 million in rare music memorabilia; Reliquary Spa; Kelly Cardenas Salon -- a Paul Mitchell Focus Salon; 4.8 acres of tropical-pool paradise, which was voted as the No. 1 "Best Hotel Pool" in the 2015 USA Today 10 Best readers' choice contest; the world-famous pool party Rehab Beach Club; live music and entertainment venues The Joint, Vinyl and Club Domina, the home of Magic Mike Live Las Vegas; restaurants Culinary Dropout, Nobu, Pink Taco, Mr. Lucky's Cafe, Goose Island Pub, Fu Fu Asian Kitchen, Oyster Bar, Pizza Forte, Dunkin' Donuts and MB Steak; a fitness center; trendsetting retailers John Varvatos, Affliction, Hart & Huntington Tattoo Co., Chill by Hudson, Hootenanny, Bezel, Day + Night and Shine.For room availability and additional information, call 800.HRD.ROCK (800.473.7625) or visit hardrockhotel.com. Follow Hard Rock Hotel & Casino on Facebook, Twitterand Instagram for the latest news and updates.
Article by Craig Weissman

Hospitality Technology's Moment of Truth: Who Will Transform the Booking Experience?

Duetto 28 September 2018
Can you name three great enterprise technology companies in hospitality? Or even one? The answer is likely "no," because most people have never been terribly impressed by the typical experience on a hotel's website.Where are the Salesforces, SAPs or Adobes of the hospitality world? What is hospitality technology missing that these kinds of platforms provide?It's not just that those firms have moved entire industries to the cloud -- though I admit that job is a heavy lift, especially for an industry like hospitality where there's a long legacy of in-house, on-premise systems. I think an essential technology company has to empower the best possible user experience for the end customer. Hospitality technology, on the other hand, has always been built to optimize transactions.There is a real opportunity for hotels and casinos to transform not just the booking experience, but the entire guest journey, and bring the best elements of modern e-commerce to an industry that already prioritizes taking care of people to earn their loyalty.An Industry in TransitionHospitality is hardly alone in this difficult transition from on-premise to the cloud.Take financial services. Customers largely prefer to do most of their shopping, banking and bill paying online. They don't even need to get cash from ATMs, much less interact with a human bank teller or balance a checkbook on paper. The whole sector has had to move online quickly to make it easier and faster for customers to manage accounts.Hotels and casinos seem to be falling further behind as an industry because they tried going it alone on the technology front for decades. It's very complicated to build one system, let alone the many you need, to handle pricing, distribution, payment security and the management of customer data. As a result, it's even harder to make shopping for a hotel room online easy (or enjoyable, for that matter).Even for properties trying to buy the right PMS, CRS or other systems instead of building their own, interoperability is a huge issue. There are so many of them. And integrations among all the disparate pieces in a hotel's tech stack are incredibly difficult, not to mention cost-prohibitive, to build.Rethinking Integrations and DataAt a typical hotel that's been muddling through changes in the hotel technology landscape for the past few years, some systems might be on-premise and some might be in the cloud on a software-as-a-service model. But new solutions simply get bolted on or ripped out, and it's rare for a technology stack to be built as a cohesive platform.All the data a hotel would need today is severely fragmented as well. Crucial information like reservations and folio spending reside in the PMS, CRS and a sales and catering system. Guest data is stored in a separate CRM system, and more is available from third-party analytics sources. Even more could be ingested into an RMS algorithm for better pricing and forecasting, like reputation scores from review sites and market data points like rates your competitors are publishing.Leaving Legacy Technology BehindWhen I left Salesforce to start Duetto with Patrick Bosworth and Marco Benvenuti, we focused on that core challenge of integrating hotel technology systems and data in the cloud. It was a huge undertaking, but we knew it would allow us to solve the fundamental pain point: Typical revenue management systems can't price dynamically enough to maximize a hotel's profitability.We're proud of the work that went into our first application, GameChanger, and its ability to analyze all the data available to hoteliers and leverage it in the Open Pricing philosophy Duetto pioneered. Starting with pricing and operations prepared us for the important work to come.With the foundation in place, we made a critical shift nearly two years ago to fulfill the potential of a fully cloud-based tech stack and focus on the hospitality consumer.We're focused on truly personalizing the hotel booking experience, in particular the booking path, as a potential guest is navigating a hotel's direct channels like the online booking engine. Through dozens of integrations and APIs, the Duetto Revenue Strategy Platform connects our customers to the best vendors in the industry and unifies all the data flowing from a property to its tech stack and back.The guest's experience on property is central to everything a hotel or casino brand stands for. The experience that person has at every touch point along the way, from the time she starts researching a destination to the point where she's browsing your booking engine and finally converts to a reservation, should be just as good and just as important.The process of securing travel accommodations should be equal to, if not better than, what consumers expect from companies like Amazon or Apple. Once you pull up a hotel's website or app, there should be a natural flow of options you're presented with: a personalized price, your preferred room type, and package options that reflect your past behavior and your value to the property. You should be recognized everywhere you go, from different properties or brands under the same hotel company umbrella or from a hotel's marketing partners.Properties benefit in this scenario by keeping a greater amount of profit from the guest's direct booking, rather than paying out a high commission to an OTA. That money can be reinvested into the amenities and on-property experience each hotel and casino is able to provide.The technology firm able to empower this customer-focused strategy in the hospitality industry is the one that will earn a place next to companies like Salesforce or Oracle. That's what motivates me, and the entire team at Duetto, every day.RELATED HOSPITALITY TECHNOLOGY ARTICLES5 Reasons Your Hotel's Conversion Rate is Low -- and How to Fix ItThe Business Imperative for Cloud Architecture in HospitalityHow Can Hotels Better Personalize the Shopping and Booking Experience? (Video)
Article by Jason Q. Freed

Is RMS Technology Actually Holding Hotels Back?

Duetto 14 September 2018
An overwhelming theme in 2018 is that hotel pricing power seems to be a thing of the past. More people are traveling and staying in hotels than ever before, but hotel operators are facing shrinking profitability margins because rates and revenue are not growing at the same clip as costs, such as labor, marketing and distribution.Ask why hotels can't drive ADR, and you'll get blame pointed in several directions, from online price transparency, increased hotel supply and new competition from home-sharing services like Airbnb. But in hallways and breakout rooms this year, I heard a new challenge: technology systems that rely too heavily on competitor rate-shopping and thus recommend severe discounting as day-of-arrival approaches.After some candid conversations, it's evident that some revenue managers and revenue management systems are relying too heavily on competitor prices and rate-shopping tools to make pricing decisions.Honestly, this caught me off guard. How could systems meant to aggregate and analyze data, build an accurate forecast and make profit-driven pricing decisions be in fact suppressing ADR growth?So, I came back with honest questions for Duetto's product team. And it turns out the answer is two-fold: mistakes are being made on both the strategy and the technology fronts.Here's what I already knew: rate shops and competitor pricing data is meant to be a guide and a measurement, not a "demand signal" or the sole data set off which hotels are making pricing decisions. Below, I'll highlight some new strategies and data sets to help hotels make better pricing decisions and ways revenue teams can break themselves from the competitor-driven pricing mold.I also knew that discounting rate to boost occupancy as day-of-arrival approaches is a bad strategy because it sends your competitors into a tailspin and more-importantly trains your customers to either wait to book or cancel and rebook when price inevitably drops.What I was more curious about though, was the accusations that revenue management systems are recommending heavy discounts, and it turns out that is partially true. Some hotels with a one-way integration to a lightweight RMS are in fact weighing rate-shops too heavily and thus overreacting to competitor price drops. Other revenue management systems use a legacy theory called "zero-bid" to shape their algorithms, meaning when demand is not there, the value of the next room to sell is zero. More on that after the strategy discussion.New Strategies to Move Beyond Competitor PricingOn a panel at the Hotel Data Conference, Ash Kapur, SVP of hotel asset management and CRO for Starwood Capital Group, said even with a revenue management system, the biggest challenge for any hotel is dealing with a foolish revenue manager in the comp set. We've all heard similar refrains from hoteliers about only being as good as their dumbest competitor on the street corner.Kapur said a core issue is that hoteliers are looking at market trends and competitor rates before simply evaluating how many rooms they have left to sell."People are starting to price based on these rate shopping tools. No!" he said. "We set the rate. Then we will push it to all channels: hotel website, call center, OTAs. If managed correctly, if you understand the demand channels and your customer needs, then you are able to push higher rates even through the OTAs."Competitive rates are one piece of the pricing puzzle, but many hotels are paying too much attention to their competitors. Whether it is done manually or with an automated system, any strategy relying on competitive rates and competitor data as the primary mechanisms for pricing is flawed, argues Michael McCartan, Managing Director of Duetto."Each hotel has unique demand every day based on its geography, branding, amenities, group business, corporate contracts, online reviews and more. A good forecast considers competitive data, but also other local factors like events, flight arrival information and even web shopping data to more accurately understand overall demand," McCartan writes here. "If you or your revenue management system are primarily focusing on competitor pricing and someone across the street cuts rate for little or no reason, and others follow, it could and probably will lead to a race to the bottom for everyone."It seems as if the No. 1 thing hotel revenue teams can do to drive rate is to stop pricing based on their competitors. Instead, look to the market as an indicator, not a decision-driver, and consider new metrics like GOPPAR and GOPPOR as key performance measurements.What Does Rate-Shopping Technology Actually Tell You?Until recently, it was common practice for hotel revenue teams to call neighboring hotels daily and ask their current rate. Understanding the importance of this data, new technologies were developed to help hotels move beyond manual, static rate shops and provide them with live visibility into competitor rate changes and updates.This insight can be key for hoteliers to ensure rate parity across channels, including brand.com, OTA, wholesalers, etc.But even rate-shop providers understand that room rates should not be set on competitor data alone, and thus provide their data to larger platforms that ingest and analyze additional data sets. Pricing driven by competitor rates as the main indicator sets hotels up for failure. For this reason, lightweight pricing tools without a two-way connection to the hotel PMS for availability and other in-house data sets are fading out of fashion.It's one reason Booking.com shut down its in-house revenue management solution; the necessary integrations were just too complex and costly to build.At Duetto, the pricing application was built to put a much greater focus on finding a price that will make hotels the most money rather than on estimating demand as a means to that end. Rate shops do not influence the pricing algorithm unless a user wants to set up rules where they always sit at a certain position above or below a competitor, and even this strategy is vetted through a complex conversation before implemented.Instead, Duetto prices more holistically by using multiple Demand Signals, relying on price, web shopping data, and other third-party data as the cornerstones. Merging real-time signals with a hotel's historical data provides a better guide.In fact, Chief Marketing and Strategy Officer Marco Benvenuti told me that when he co-founded Duetto and was working with engineers to develop the algorithm, he made sure to buck legacy revenue management trends that were suppressing pricing power."The very first thing that I wanted to do was not to rely on what we call the bid-price approach to pricing. The bid price basically tells you: If I had an extra room in my hotel, what would be the value of that extra room, and traditional legacy revenue management systems base their algorithm on this," he said. "The weakness of that approach, in the modern world with complex distribution, is that [hotel rates] can go very low very quickly if you're not forecasting a sellout. So, if for whatever reason your forecast 90 days out was to approach a sellout, but something derailed that forecast, the bid price reverts to zero."Obviously starting the value of the next available room at $0 is not going to help hotels push pricing power.So, while there are plenty of events and trends that hold back hotel revenue teams from pushing rates, your RMS should not be one of them. If you're dropping rate as day of arrival approaches or relying too much on last-minute discount channels like Hotwire and HotelTonight, challenge your team to identify the causes and revise a strategy to break out of this mold. Proper pricing strategies will help the hospitality industry as a whole fend off disruptors and ensure profitability and longevity.RELATED HOTEL REVENUE STRATEGY ARTICLESExperimenting With Price Elasticity and the Fallacy of the $0 Bid PriceStop Calling it Unconstrained DemandHotel Ecommerce Could Get a Boost from Data and Analytics
commercial

H-Hotels.com Partners with Duetto to Elevate Revenue Strategy

Duetto 5 September 2018
San Francisco, 5 September, 2018 -- Europe's H-Hotels Group has partnered with Duetto, hospitality's only Revenue Strategy Platform, to maximize profitability across its portfolio of 61 properties in the DACH region (Germany, Austria and Switzerland), ahead of expansion into other European destinations.H-Hotels.com is implementing the technology firm's Open Pricing application, GameChanger; its solution for intelligent reporting, ScoreBoard; and its groups business application, BlockBuster, across its entire portfolio.The family-owned H-Hotels Group operates about 10,500 rooms across its own brands, including Hyperion, H4 Hotels, H2 Hotels, H+ Hotels and H.ostels, making it one of the largest hotel operators in the DACH region.Duetto's Revenue Strategy Platform brings together core technologies and data to make them accessible through multi-tenant cloud architecture, powering a suite of applications delivering a holistic Revenue Strategy that increases organizational efficiency, revenue and profitability.H-Hotels.com will use the GameChanger Open Pricing application to yield rates independently by property and stay date, room type, booking channel and customer segment, driving increased revenue, profit and efficiency.Using ScoreBoard, the company will be able to quickly and efficiently produce and share multi-property reports such as financial forecasts and budgets, leading to more accurate reporting and streamlined operations.BlockBuster will help H-Hotels.com to bring together sales and revenue management to effectively yield group bookings and optimise on contracted business."We have a lot of expertise and know-how but appreciate that we need to work with the best technology service providers in order to fully drive our Revenue Strategy. Digitisation is key. Duetto's Open Pricing solution will help us to optimise our rates to take full advantage of market demand. Duetto's solutions will also provide a more in-depth view of how our portfolio is performing, helping us to see opportunities and act upon them," said Alexander Fitz, CEO, H-Hotels AG."H-Hotels is an innovative industry leader in the DACH region eager to adopt the very latest technological solutions. They understand the benefits of operating a cloud-based Revenue Strategy Platform and how it will help them to make better informed decisions to maximise on opportunities. Working together, we look forward to helping them advance their Revenue Strategy," said Marco Benvenuti, Chief Marketing and Strategy Officer, Duetto.H-Hotels.com has plans to expand in Spain, Italy and Hungary, with the company's first property in Budapest currently under construction.About H-Hotels.com Based in Bad Arolsen, Hesse, the H-Hotels chain is one of Germany's largest hotel operators. The family-run company employs more than 3,000 staff, and includes the Hyperion brand, H4 Hotels, H+ Hotels, H2 Hotels, and H.ostels, the most recent addition, all operated under the umbrella brand H-Hotels.com. The group, which has 60 hotels at 50 different locations in Germany, Austria and Switzerland, is enjoying continuous growth. More hotels are planned for cities in the DACH region, and our first location outside of the German-speaking area will be opening in Budapest.Family holidays, weekend breaks, business trips or MICE events: H-Hotel.com locations provide everything travellers need for a modern vacation. Guests can collect loyalty points each time they stay, with our HotMiles bonus programme, and through cooperation with Miles & More and PAYBACK.Find more information at H-Hotels.com/en.
commercial

Guestline, Duetto Announce Technology Partnership

Duetto 30 August 2018
San Francisco, 30 August, 2018 -- Duetto, the hospitality industry's only Revenue Strategy Platform, has entered into a technology partnership with Guestline, provider of hotel IT solutions, with the launch of a two-way integration between Duetto and Guestline's Rezlynx property management system (PMS).Both Guestline and Duetto provide fully native cloud solutions. The seamless integration enables users of both solutions to optimise on pricing, better manage inventory and segmentation, implement personalised offers and streamline the reporting process."As a web native application, we have a lot of synergies with Duetto. The alignment between Guestline and Duetto affords our mutual customers a deeper understanding of their inventory and rates. These powerful insights provide valuable pricing decision support to effectively deliver revenue growth," said Peter Fitzgerald, Director of Strategic Partnerships, Guestline.The high-quality data provided by Guestline's Channel Distribution System to Duetto's solutions, and the real-time nature of the integration, means that hotels can truly adopt an Open Pricing approach to Revenue Strategy, yielding rates independently based on dates, channels, room types and customer segments."In Guestline we have found a technology partner that truly shares our DNA. The integration has been swift, efficient and welcomed by our pilot customer. Guestline's support of our Open Pricing strategy allows us to provide hoteliers with rate recommendations tailored not only to their property but also to the specific guest, setting a new benchmark in personalised pricing," said Marco Benvenuti, Chief Marketing and Strategy Officer, Duetto.The integration with Duetto enables Guestline customers to optimise their Revenue Strategy through Duetto's Open Pricing application, GameChanger; intelligent reporting solution, ScoreBoard; and contracted business optimisation application, BlockBuster.Duetto's Revenue Strategy Platform brings together core technologies and data to make them accessible through a multi-tenant cloud architecture, powering a suite of applications delivering a holistic Revenue Strategy that increases organizational efficiency, revenue and profitability.About Guestline Guestline's multi-award-winning property management, distribution and digital marketing software for hospitality businesses is cloud-based. The software enables hospitality business owners and managers in sectors such as hotels, serviced apartments, pubs, and more, to manage bookings and operations both efficiently and profitably.Innovative technology developments include integration with many leading third-party applications, tokenisation for PCI compliance, website design and additional functionality to improve customer service and capture more revenue.With offices in Europe and Asia, Guestline's systems are used in 25 countries across 5 continents and enables properties of all sizes to achieve maximum occupancy at the most profitable rate.For more information, visit: https://www.guestline.com/
Article by Jason Freed

Hotel Occupancy and Demand are Soaring. Why Can't You Drive ADR?

Duetto 28 August 2018
To illustrate, STR data shows the industry sold 117 million room nights in June, the most ever recorded in that month. June marked 100 consecutive months of RevPAR growth (since March 2010), with average monthly RevPAR growth at 5.8%."This clearly points at very healthy group, business transient and leisure demand, supported by still undeterred GDP growth and low unemployment numbers," said Jan Freitag, Senior VP of Lodging Insights at STR."We're in the best demand environment we've ever seen as an industry," added Isaac Collazo, VP of Competitive Intelligence at IHG, during the Hotel Data Conference last week.Yet, June data also showed year-over-year rate increases of only 2.7%, which is right around the historical average. In fact, for the first four months of 2018, ADR growth climbed higher each month, exceeding 3% in both March and April, which seemed to point to an increase in pricing power. But in May ADR growth fell to only 2.2%.Ask why, and you'll get blame pointed in several directions, from online price transparency, increased hotel supply and new competition from home-sharing services like Airbnb. During a panel titled "What Happened to ADR Growth?" at HDC in Nashville last week, hotel owners, operators and asset managers mentioned each of these factors, in addition to shedding light on new issues leading to rate suppression.Interesting stat from #hoteldataconf: we're probably still in the midst of record demand growth for the hotel industry (maybe another 2 years) but ADR growth still weak #trends -- Tim Peter (@tcpeter) August 16, 2018Are We Focusing on the Wrong Metrics?The panel agreed that hotel managers and franchisors are often incorrectly incentivized to focus on occupancy instead of rate and profitability."We do sellout incentives," admitted Michael Heaton, President of Waterford Hotel Group. "I actually think we've gotten to that point because of how we do displacement analysis, and we're asking operators how often they're selling out."Esther Gayfield, VP of Asset Management for Colony NorthStar, said the practice is not uncommon and often hoteliers will take low-rated business to get to break-even."When we're measuring, we don't always fully understand how this price of business is going to affect things like year-over-year margins," she said. "We're often taking occupancy at the expense of profitability."Gayfield also said asset managers tend to put pressure on operators to maintain their share in the market, and it's easy for them to shoot for occupancy increases to hit those numbers."If we don't sell out and we had a perfect fill last year, then they're afraid to slip in index," she said.To fix this, ensure management is focusing on top and bottom line, said Leticia Proctor, Senior VP of Sales, Revenue Management and Digital Strategies for PM Hotel Group. "You have to be fluid and flexible every day, and maybe at times you need to drive occupancy," she said.Gayfield added that displacement can be brought down to the gross operating profit level, and that sometimes those numbers dispel anecdotal evidence on whether a piece of business is profitable."Management companies are incentivized at the top and bottom lines. Below that, GOP is what the ownership has to focus on, which includes insurance and payments," said Ash Kapur, Senior VP of Hotel Asset Management and Chief Revenue Officer at Starwood Capital Group. "Expenses continue to rise, and we need to focus on a higher rate that will flow through better."The panelists all agreed that a new rate transparency created by an influx of e-commerce hotel booking sites is undermining hoteliers' pricing power. In fact, new data shows the average traveler visits anywhere from four to 18 unique sites before booking."Millennials love to shop and visit multiple sites, and now they're the ones booking lots of hotel rooms," Kapur said. "Years back they did not have TripAdvisor, all they had was directories. Today that transparency shows them how we perform, how we treat our guests, and actually has a greater impact on how we price."Heaton of Waterford Hotel Group said this transparency compels hotel revenue teams to look at paid placement to level the playing field."Why should I book direct if I see rates $150 less on a wholesale channel?" Proctor of PM Hotel Management asked. "We own the rooms, and we own the rate. Now my hotels are having a hard time filling up on weekends and compression nights because of Airbnb."How Hoteliers Can Gain the Confidence to Push PriceWhile the revenue management role looks much different than it used to, Gayfield of Colony NorthStar said she's worried that revenue employees aren't learning as fast as they need to keep up with technology innovations."We put too much pressure on RMs to make the decisions when the GM should also be the Revenue Strategy leaders," she said. "I think it's important to focus on education, from GMs to sales to revenue."Kapur said a core issue is that hoteliers are looking at market trends and competitor rates before simply evaluating how many rooms they have left to sell."People are starting to price based on these rate shopping tools. No!" he said. "We set the rate. Then we will push it to all channels: hotel website, call center, OTAs."Kapur said Starwood Capital has successfully achieved higher ADR from OTAs by understanding where the demand is coming from and by building room type and channel pricing strategies."If managed correctly, if you understand the demand channels, then you are able to push higher rates even through the OTAs," he said."OTAs have forced us get really analytical about this because there's always an expense," Heaton added. "A great way to challenge your GM is to disrupt a revenue management meeting and ensure the discussion ends with net rate."Kapur said that often brand-developed revenue systems aren't syncing up with that strategy."Larger brands have RMSs or platforms where you are not able to maximize ADR potentials," he said. "If we have a team of smart revenue people and can't maximize ADR by room type, why can't we do that?""Brand systems are looking too much at historical data before, say, a bunch of new supply came in the market," Gayfield added. "Everyone says, 'Trust the system. Trust the system.' Well, I have to question the system. You have to understand the data."RELATED HOTEL REVENUE STRATEGY ARTICLESHow Hotels Can Regain Their Pricing Power (Video)Owners, Asset Managers Emphasize Need for Leadership in Revenue StrategyKalibri Offers Guide for Finding Optimal Business Mix
Article by Marco Benvenuti

What Casinos Can Learn from Hotel Revenue Management

Duetto 24 August 2018
It's astonishing to see how far the hotel revenue management discipline has come over the past decade.Ten years ago, revenue management was basically a finance guy in the basement office of the hotel looking at historical data, building a forecast or budget in Excel, layering in on-the-books data and recommending a single rate, which was then manually entered into the PMS. Very few universities had revenue management as a core part of their curriculum, and operations and finance people were finding their way around new data, new technology and learning a new discipline.At the time, I was fresh out of grad school and finding my way around casino revenue departments on the Las Vegas Strip. Back then, the revenue and marketing teams spoke two different languages, and what analytics we could find were cobbled together. OTAs were eating us for lunch, driving both rates and profitability in a downward spiral.When we met as colleagues at Wynn, Patrick Bosworth and I were both stuck in corporate roles. After a while of prodding, though, I was given enough freedom to construct a revenue team on my own terms. Since we started basically from scratch, it afforded us the opportunity to think outside the box, and our first priority was aligning several departments along the same strategies, data, goals and KPIs. Next, we looked for the ability to price each of our room types and distribution channels independently of each other so we could add even more dynamic pricing.It turns out many hoteliers across the world were facing the same challenges. A decade later, hotels -- particularly large brands and operators -- have made significant progress.The revenue team has moved out of the basement and brings analysis to the table that ultimately shapes sales and marketing strategies. The majority of hotels have embraced some type of automation, where instead of keystroking rate changes on a daily basis across all channels, they've invested in some type of technology to assist. And finally, new data sources have become abundant in the hotel industry, allowing revenue managers to make much more educated and segmented rate decisions.It's a transformation we commonly refer to as: "From revenue management to Revenue Strategy."More Opportunities in the Casino Revenue Strategy SpaceNow it's time for casinos to get on board.Not because Duetto thinks it's important to running a successful business, or because we want to sell you the tools to bring Revenue Strategy to life. But because the casino industry is changing fast, from less gaming to more entertainment, and from Las Vegas and Atlantic City to destinations across the country. Revenue Strategy is a proven way to shift your operations with little investment to drive more profitability, and frankly could be a necessary action to sustaining your business for the long term.Look, we already know that the hotel and casino industries are one in the same. Some casinos do not have hotels, but those that do can replicate many of the successes with little to no effort.Open Pricing - or the idea of dynamically pricing your dates, room types and channels independently of each other - is a no-brainer. This will help you segment your guests further and price each segment appropriately based on their value to your property.In comparison to hotels, casinos have even more tools and resources at their disposable to make significant impacts to the bottom line. With access to a guest's Average Daily Theoretical or even gaming spend, casinos can combine that data with Open Pricing and begin dynamically customizing offers and rates based on the total value of each customer.With the right tools, casinos can go beyond the typical comp or no-comp decision and optimize revenue for each booking. Operators can calculate a more appropriate reinvestment number to tailor marketing promotions and enticements.What's Holding Casinos Back?Hotels didn't jump all the way on the Revenue Strategy train right from the get-go, either. It took developing and adopting strategy best practices, as well as developing or purchasing tools to ingest the demand data, build a forecast, analyze it and send myriad rate recommendations to the right systems. All of those pieces and parts have been evolving over the past decade and will continue to do so.The cultural shifts -- trusting revenue teams to drive decisions, aligning departments around revenue goals, adopting more dynamic pricing strategies -- took more time to adapt, and some hotels are still recognizing the value.This is where casinos seem to hit a roadblock.A small number are grasping it, and the results show. When you're using the right data and making calculated decisions across departments based on this data, revenues will improve immediately. Cash revenue is the first to jump, but as you start getting the right players in the doors, total player value will follow and soon your higher-rated guests are driving month-over-month profit increases.Evolving revenue management practices to include new demand signals, automation and predictive analytics was a no-brainer for hotels, and now we're proud that a significant part of the industry has adopted the terminology -- and more importantly the practices -- of Revenue Strategy and Open Pricing.It's time casinos start to embrace the future as well, and it starts with adopting a cultural shift toward a more holistic Revenue Strategy. Here's hoping it doesn't take a decade.Related Casino Revenue Strategy Articles:Tribal Casino Operators: Embrace the DataThe House Wins: Elevating Casino Revenue Management to Revenue StrategyAtlantic City Casinos Hit Summer Hot Streak
commercial

Dorsett Hospitality International, Duetto Announce Revenue Strategy Partnership

Duetto 23 August 2018
Hong Kong, 23 August, 2018 -- Dorsett Hospitality International has agreed to implement several applications from Duetto, hospitality's Revenue Strategy Platform, as it looks to build out its core markets in Asia and expand further in new countries like Australia.Duetto's flagship Open Pricing application, GameChanger, will allow Dorsett to yield room rates independently by stay date, customer segment, booking channel and room type. Dorsett will also adopt Duetto's solution for intelligent reporting, ScoreBoard, which enables users to create and share budgets, forecasts and other crucial reports with a few clicks.The agreement covers a majority of the company's Dorsett Hotels & Resorts and d.Collection portfolio.Rebecca Kwan, Senior Vice President of Sales - Hong Kong & United Kingdom of Dorsett Hospitality International, said the rapidly evolving and highly transparent travel industry drove the need for Duetto's platform, which leverages real-time demand information to help Dorsett's properties make better, faster pricing decisions and quickly share reports, budgets and forecasts."We're at the forefront of changes in consumers' needs and shopping behaviors, because as a vertically integrated company, we design, build, own and manage all of our hotels," Kwan said. "We sought a solution that would empower us to optimize our revenue in an extremely price-sensitive industry and support our rapid expansion."She added that Dorsett is overhauling its website this year with enhanced e-commerce features and the launch of its global loyalty program."Our ultimate goal is to increase direct bookings through our hotel websites," Kwan said. "With the business intelligence solutions offered by Duetto, we are able to be more responsive to the changes of online rates in real time, to make sure our websites always offer the best rates to our guests."Patrick Bosworth, Co-Founder and CEO of Duetto, added: "Dorsett has captured a very attractive niche of four-star hotels in Asia, and we think our Revenue Strategy Platform can capitalize on that potential by making Dorsett's hotels more efficient and dynamic. We look forward to building up both companies' scale in key Asian markets for years to come."Kwan said Duetto's platform will be the Revenue Strategy solution for the hotels in Dorsett's pipeline, with nine more hotels opening within the next couple of years in Malaysia, Australia and the United Kingdom.About Dorsett Hospitality InternationalDorsett Hospitality International is under the Far East Consortium Limited, which has three brands under its umbrella: the upscale and midscale Dorsett Hotels & Resorts and d.Collection, comprising a range of charismatic boutique hotels, and the value-led Silka Hotels. The group currently owns, operates and develops 54 hotels making up close to 12,000 rooms in key destinations such as Hong Kong, Malaysia, Singapore, China, United Kingdom, Australia and Japan.For more information, visit www.dorsett.com.
commercial

Keynote Speakers Announced for Revenue Strategy Forum London

Duetto 14 August 2018
London -- Hotel industry leaders, innovators and strategists will come together to discuss the hot topics of the moment, including Blue Ocean strategies, blockchain and e-commerce, at the fourth annual Revenue Strategy Forum (RSF) London.Organised by Duetto, the hospitality industry's only Revenue Strategy Platform, RSF London 2018 will present a packed programme of debate when it takes place ahead of World Travel Market on 5 November 2018 at the Amba Hotel Charing Cross.Innovator, strategist and Chief Operating Officer of citizenM, Michael Levie, will open with a keynote presentation on the benefits to hotels of taking a Blue Ocean approach to business. He will provide the audience with insight on how to differentiate in a "sea of sameness" and find the blue ocean of profit to succeed.Levie will also moderate a panel discussion on blockchain. According to a survey by the World Economic Forum, 58% of executives anticipate that 10% of global GDP will be stored on blockchain before 2025. It is therefore imperative that hoteliers pay attention to this technological revolution.What can hoteliers learn from Amazon? How does the e-commerce giant always seem to know what to recommend next to their customers? Julien Simon, Principal Evangelist A.I./Machine Learning EMEA, Amazon Web Services, will provide the closing presentation, talking about how A.I. can transform the hotel business."Now in its fourth year, RSF London will continue to challenge Europe's hotel leadership on how their organisations should manage change and embrace new concepts," said Michael McCartan, Managing Director, EMEA, Duetto. "Burning issues such as blockchain, change management and personalised e-commerce are topics that need to be addressed if the industry is to continue to innovate. Those leading the change will be those leading the pack as the industry moves forward."RSF London 2017 was attended by more than 150 hoteliers and senior executives focused on revenue and distribution.For tickets and further information, please visit http://www.rsflondon.com.RSF London 2018 Agenda:Innovator's Insight:Blue Ocean Thinking: Making Competition IrrelevantMichael Levie, Chief Operations Officer, citizenMSpotlight Session:Hype or Hope: Is blockchain going to change the industry, or much ado about nothing?Moderator:Michael Levie, Chief Operations Officer, citizenMPanellists:David Brillembourg, Founder, Chairman & CEO, Brillembourg HoldingsCharles Ehredt, Co-Founder & CEO, Currency AllianceBehind the Brand:Lean Luxury: Delivering a frictionless hotel experienceMichael Struck, Founder & CEO, Ruby GroupSpotlight Session:Boosting Direct Bookings Through PersonalisationModerator:Sam Weston, Marketing Manager, 80Days and Editor of Hotel SpeakPanellists:David Taylor, Chief Commercial Officer, glh HotelsAdam Rowledge, General Manager, Georgian House HotelKelly Cronin, Director of Revenue Management, Interstate Hotels & ResortsTechnology Focus:How AI And Machine Learning Can Transform Your BusinessJulien Simon, Principal Evangelist AI/ML EMEA, Amazon Web Services
Article by Mark Brandau

Owners, Asset Managers Emphasize Need for Leadership in Revenue Strategy

Duetto 10 August 2018
Hotel owners and asset managers led the charge at RSS 2018 for revenue-focused leadership that would help them and the major brands whose flags they carry. A more holistic Revenue Strategy that maximizes profitability is within reach, RSS attendees said, but it requires greater collaboration among all stakeholders, as well as all departments of a property.Highlights from RSS show that hoteliers recognize and emphasize the needs in the industry for greater alignment, leadership development and investment in technology.Aligning the Hotel Industry for Revenue StrategyThe prevailing sentiment about Revenue Strategy, shared by asset managers as well as the brand operators and owners, was that it's an all-hands approach, not relegated to one silo. Andrew Jordan, Chief Marketing Officer for Interstate Hotels & Resorts, said during a panel at RSS that responsibility for top-line goals shouldn't reside only with revenue managers and analysts."Revenue Strategy is way too important to be left to the revenue strategists," he said. "When I think about how our organizations are evolving, it seems like something that is not siloed at all. Not only is it about partnering with sales, marketing and e-commerce, but it's also about partnering with ops first and foremost."Doing so requires hotels to align those departments on not only strategy, but also on incentives and goals, said Nolan Wrentmore, Vice President of Revenue Management for Aimbridge Hospitality."It's about putting together a plan of what we all need to do to achieve a certain goal, whether it's as simple as a budget or STR report results or Net RevPAR," he said. "General managers are the ops leaders, and they need to be really involved. Everybody has to have that common understanding of what our goal is and how we're going to achieve it."Jordan remarked that a property's revenue strategists should be more involved than they typically are in the executive committee. Wrentmore completely agreed, adding that revenue leaders need the soft skills to effectively communicate a strategy to asset managers and owners."We get into situations where we like to explain what happened yesterday," Wrentmore said. "We have to explain why our STR Report sucked last week or month -- because nobody ever asks us about the good ones -- but more importantly, what owners and asset managers want to know is what are we doing about it? What are we strategizing for the future, and when is it going to turn around? People who can explain that are the individuals you need in your leadership team and executive committees."Developing Revenue Leadership for HotelsThinking about this involvement in the hotel's power structure gets hoteliers into thinking beyond revenue management or strategy toward what Bonnie Amato, Chief Revenue Officer of Fulcrum Hospitality, called "revenue leadership.""I actually don't use the term Revenue Strategy anymore; my new conversation point is revenue leadership," she said. "It's about defining what's the next step and leading to it."She added that when a hotel identifies a talented revenue manager, the most important investment to make in that person is leadership training. An expert in one particular revenue management system isn't as useful to a hotel as somebody who can communicate clearly and lead different departments into action."The best leader should lead," Amato said. "It doesn't make the second person any less important, because one person can't do it all."In fact, she said, it's exceedingly rare to find somebody already possessing leadership acumen and command of a revenue management system: "That's not necessarily a natural combination. So far, people have been brought up in one or the other silo and have a weakness in the other."Invest in Hotel Technology, TooAsh Kapur, Senior Vice President and Chief Revenue Officer for Starwood Capital Group, also remarked in the opening panel of RSS that investing in people was as important as procuring new tools to empower them. However, he said, don't short-change needed upgrades to technology and strategy over the long run.For instance, if hotel companies made the needed upgrades to CRM systems, the owners and asset managers of their branded properties would be far better equipped to drive higher gross operating profits, driven by higher average daily rates, Kapur said."It's not about how or where the guest came from; it's about what I do with the guest once he's inside my building," Kapur said. "If I have all the tools that enable my staff to give them a brilliant experience, I know that the next time onwards, whatever channel they use, I will have the ability to increase rates, because I have a lot of guests returning and have better scores on social media and TripAdvisor."A brand can win the buy-in of owners and asset managers, Kapur said, even though all three groups have different criteria for judging an initiative's success. Asset managers want higher gross operating profits, which correlate with higher fees for brands, while the owners need to maximize net operating income.Just as communication remains important for the revenue leader trying to win over ownership, it's also important for brands and asset managers to articulate the strategy to the group that ultimately owns the asset, Kapur said."What shouldn't happen is piecemeal approaches or Band-Aids to fix what's happening outside this technology," he said. "It has to be a concise, well-articulated strategy, and the vision needs to be shared with the hotel ownership group, and then as hotel owners we'd endorse it."RELATED HOTEL REVENUE STRATEGY ARTICLESWhat NOT to Look for in a Revenue ManagerHotel Owners: DORMs Who Drive Profit are CoolHow Should I Build and Organize My Revenue Team? (Video)
Article by Vera Lye

Of Battlegrounds, New Channels and the Need for the Right Strategy

Duetto 10 August 2018
In such company, a discussion about the battlefield with new soldiers will inevitably ensue. This time was no different. The hospitality distribution chain was once again described as a "battleground" - a fight for customers and for ownership of those customers. A panel, entitled "Airbnb vs. hotels vs. OTAs," looking at the upsides and the downsides of the distribution landscape, started off with an astounding prediction - by 2030, Airbnb will be the largest revenue turnover accommodation provider.Not a totally left-field prediction if you take into consideration what Airbnb has already begun to do. With its recent partnership with SiteMinder, it now has access to the latter's listing of 35,000 hotels.In an earlier statement, SiteMinder's managing director and founder Mike Ford said, "In an increasingly-complex and competitive world, SiteMinder's partnership with Airbnb offers a new opportunity for boutique hotels and bed and breakfasts to engage the growing number of travellers who seek exceptional hospitality and an authentic local experience ... now makes it easy for these small accommodation providers to reach the millions of customers who use Airbnb every day."Hotels like Sydney's Old Clare Hotel has already jumped on the Airbnb bandwagon and is featured in its boutique hotel list. "We wanted to explore an additional market, a new demand channel made up of people who are not looking for a traditional hotel. Airbnb customers are different," explained general manager Timo Bures about its decision to list with Airbnb.VERIU Hotels & Suites is also on there. Marta Laguardia, its revenue manager, said the process of distributing through Airbnb is improving. "We used to have to upload our rates manually; Airbnb didn't provide any tools. But now, there are some, although still limited."So how big a threat is Airbnb to the current distribution chain? "There is no need for fear. If you have a value proposition, then you shouldn't be fearful of the growth of any distribution channel. Have a product that you are proud of and that people desire. Look at your product and focus on improving operations and services, and make your product more desirable than, say, an apartment. It is better to do that than spend money on public relations against guys like Airbnb," advised Bures.Moana Heal, group revenue and distribution manager of Wyndham Hotel Group, put it in perspective. "Airbnb is not as big a threat as people think. At the recent Commonwealth Games in Brisbane, a lot of the Airbnb listing was not sold. But hotels mostly did well, experiencing 15-20% higher occupancy."However, a warning was given to the OTAs that typically charge a commission rate that is higher than Airbnb. If Airbnb starts providing the same tools to hotels that OTAs now provide, OTAs could be under threat, said Laguardia.High commission rates being charged for distribution is another familiar refrain. "What's driving rates up is that a few of them are becoming bigger and bigger. Ctrip, Amazon, Google are some that are starting to throw their weight around in travel," said Dai Williams, senior vice president of global partnerships at SiteMinder.With the complexity of distribution increasing with each new and emerging channel, how much more important does that make revenue management and strategy?It was clear from the panel that sat to discuss revenue management and how it can be harnessed for optimal revenue and profit performance that this is a discipline that hotels can ill afford to forgo."We are in the cusp of change. We need to have a Revenue Strategy that looks at more data points and consider transforming the e-commerce experience to derive the right price. We should integrate all silos within the hotel to work towards the same goal," suggested The Grace Hotel's revenue manager Sawaid Saeed."In the past, we were working with a set demand. Now, it is more about generating demand. Revenue leaders should now be assisting in bringing the demand instead," he added.The panelists agreed that hotels need to put in more concerted effort to hold on to the customer and not "give too much away".Sawaid suggested using OTAs as billboards but complete the booking directly. Clare Coyle, director of revenue and distribution at DOMA Hotels agreed."Participate in sale activities by OTAs. Use them to do marketing, but provide more ancillaries or flexible terms to attract direct bookings," said Coyle.RELATED HOTEL REVENUE STRATEGY ARTICLESNo One Revenue Strategy Fits All HotelsHotel Owners: DORMs Who Drive Profit are CoolHow Should I Build and Organize My Revenue Team? (Video)
commercial

PortAventura Extends Revenue Strategy Partnership With Duetto

Duetto 31 July 2018
San Francisco -- Spain's PortAventura has re-contracted with Duetto, hospitality's only Revenue Strategy Platform, after seeing a 12% uplift in revenue in 2017.The five-year contract will see all hotels in the PortAventura portfolio continue to use Duetto's Open Pricing application, GameChanger, and its solution for intelligent reporting, ScoreBoard.PortAventura, which operates four 4-star and one 5-star themed hotels with 2,100 rooms, has been working with Duetto for the past two years. The team there has been so impressed with results that they have re-contracted with Duetto for an additional five years."We're pleased to extend our partnership with Duetto and have been most satisfied by the support model and speed with which new product enhancements are released to all customers," said Fernando Aldecoa, Managing Director, PortAventura.Duetto's superior architecture enabled a Revenue Strategy to be built within the pre-existing technology at PortAventura's hotels, providing a bespoke solution that is tailored to the different types of hotel product on offer."PortAventura has been seeing great results with Duetto, and one of the main reasons for that is the success we have had with room type yielding. With five very different hotels within the campus, there are multiple room types on offer. Through GameChanger, the revenue team has the ability to yield these independently according to demand across the portfolio," said Marco Benvenuti, Chief Marketing and Strategy Officer, Duetto."Room type optimisation has been the lynchpin to the ROI they've seen. We look forward to continuing our relationship with PortAventura and to helping them drive even more business to this unique resort destination."In 2017, PortAventura saw a 19% increase in arrivals to 4.7 million, following the opening of its third theme park - Ferrari Land. In 2018, PortAventura is forecasting more than five million tourists will visit the resort.About PortAventura World Parks & Resort PortAventura World Parks & Resort is the largest family leisure and holiday destination resort in Europe and throughout its 23-year history has welcomed over 80 million visitors. With a privileged location close to Barcelona, the resort operates four 4-star and one 5-star themed hotels (PortAventura Hotels) with 2100 rooms, and a convention centre (PortAventura Convention Centre) with capacity for up to 4,000 people. The range of leisure on offer also includes 3 golf courses (two of which were designed by Greg Norman) and a Beach Club with direct access to the beach. PortAventura World Parks & Resort is also home to a leading theme park and water park and the only Ferrari Land park in Europe, with a range of internationally-renowned attractions.
Article by Mark Brandau

Seeing Hotel Industry Threats as Opportunities Opens Up Revenue Strategy

Duetto 20 July 2018
Properties are fragmented across several different stakeholders. Hotel brands and online travel agencies are racing to consolidate their size and power. Distribution could change significantly if Google, Facebook or Amazon go from having a toe in the water to jumping into the deep end in earnest, as Airbnb has done."The disruption that we've seen is, if anything, accelerating," Bosworth said, kicking off RSS in Washington, D.C., at the Knight Conference Center at the Newseum.Opportunities for HotelsPreviously, the hotel distribution conversation focused exclusively on gains the OTAs made at hotels' expense, he said. But more recently, the sentiment has started to shift, he said, citing the buzz at the NYU Investment Conference and HITEC about the latest moves by Google, Facebook and Amazon in the travel space."What's clear is that everyone's competing to create value for the consumer," Bosworth said. "That trend is unlikely to change. We have new potential gatekeepers in the market, and the costs of distribution will continue to be under pressure."And yet, there are real reasons for optimism, he said."To this point, hoteliers have been so far behind on being able to create value, particularly in online channels, that they've focused on channels that they still control," he said.Many hotels have maintained their base business with frequent business travelers through negotiated contracts, meetings and especially loyalty programs.Conversely, strategies for growing transient revenue and occupancy have eroded, and OTAs took advantage in order to grow their businesses. That's definitely a problem, Bosworth said, but it's also low-hanging fruit for hoteliers with the right mind-set."I think there's actually an opportunity today, where a lot of the intermediaries have become large enough to the point where now the game is being played on their turf," he said. "As new big entrants come in, they're competing for those same customers. It's no longer a duopoly, and hotels have an ability to leverage data and new technology, to be able to compete for those customers while also continuing to protect their own core."Holding Hotel Industry Disruptors at Bay?Hotels may own the inventory and the data that makes the difference, but it's still really hard to change, said Andrew Rubinacci, President of AMR Hospitality Consulting. Brands, owners and asset managers might focus on the current environment and forecast how that might look next year in a static environment.But hospitality is never static, and if properties allow their strategies to stagnate, they lose. As he kicked off his "Reordering the Hospitality Universe" panel at RSS, Rubinacci pointed out that companies recognize the need to change or evolve, but they're unwilling to sacrifice their STAR Report goals or revenue targets in the short term."Typically, if you do something differently, there's a gap," Rubinacci said. "You drop revenues up front, and that's what ends up killing us all."Avoiding that "dip" instead of managing through it is the reason businesses fail, he added. That won't help the hotel industry confront several challenges likely to intensify in the near term, he said, including:New entrants in distribution: Google, Facebook, Amazon and Airbnb are coming, Rubinacci said."If we sometimes get scared by Booking.com or Expedia and what they can do, just look at Google," he said. "Google is the Internet."Chinese companies and consumers: "China is always a good way to see how things could change and be," Rubinacci said.There are several nuances to think about, including the fact that credit cards "really don't exist" among Chinese consumers, who prefer mobile payments like WeChat and AliPay. China's online travel market looks familiar, but with local companies surpassing the global players (Ctrip over the OTA duopoly, Baidu over Google, Alibaba over Amazon).Voice search: While Rubinacci and panelists didn't know if voice-enabled digital assistants like Amazon's Alexa will disrupt hotel distribution right away, he still asked the important questions: "If we think we have a hard time getting on the first page of a website, what happens when there's one hotel [for a voice search query]? And what do you think the commission rate's going to be for you to be that one hotel?"Responding to Hotel Industry ThreatsWill disruption always hurt hotels? Or will it drive needed change that benefits the industry as a whole? As always, it depends, agreed three executives on Rubinacci's panel."At the end of the day, a disruptor is really an innovator," said Alexander Pyhan, Marriott International's VP of Distribution - OTA, Meta and Wholesale. "When you use the example of Uber, they have addressed a consumer need before the consumer even knew they had it. That's why Uber is very successful."While Marriott keeps watch on giant tech companies' forays into travel, it also tries to think about its business differently, Pyhan said. He noted that Marriott and Alibaba have a joint-venture partnership to leverage their "ecosystems" of customers and inventory for mutual advantage."For all the concerns we have about the transient distribution landscape, it's enabled independent hotels to reach customers and thrive where otherwise it would be impossible," said Brian Berry, Senior VP of Sales and Data Analytics for Cvent. "Occupancy levels that we currently run as an industry are unprecedented. Some of it is the better revenue management systems and capabilities we have, but a lot of it is the distribution landscape."Ash Kapur, Chief Revenue Officer for Starwood Capital Group, agreed that competition with and among OTAs has been positive for companies outside the major lodging brands."I think [this disruption] is a positive, if I were to speak on behalf of hotel ownership companies," Kapur said. "It creates more options for hotels from a distribution standpoint. ... It also gives me optionality if I'm a small hotel in a brilliant location with a lot of demand. Do I really need to incur all these brand costs, and should I be flagging it?"He added that hotels aren't the only companies needing to respond to lodging industry threats. Disruption causes the OTAs to compete for more partners and find independents or smaller properties, benefiting asset managers and hotel owners.Pyhan said big brands like Marriott will still need to refine how they address consumer needs, because scale alone won't protect hotels from disruption."The consumer wants a high-quality product that's very dependable, but in today's environment the consumer would also like to see a seamless guest experience aided by technology," Pyhan said. "They want a local, authentic experience. That's where the brands have to evolve. Not only from a hotel perspective, but also from a transactional perspective, engaging the consumer from the research phase, through the booking phase, all the way to the stay and after."That will require legacy hotel brands and independent properties to pick what they do well and always deliver on those promises, Kapur said."Hotels have to move away from this concept of 'channel, channel, channel,' and say, irrespective of where that guest is coming from, you have the ability to own the experience," he said. "You will win that guest, irrespective of how that guest comes to you."RELATED HOTEL REVENUE STRATEGY ARTICLESThe Blueprint for Taking Business Back from OTAs (Whitepaper)Are Airbnb's Latest Distribution Moves Affecting Hotels? (Video)Industry Sea Change Surging Upstream to Major Hotel Brands
commercial

Artyzen Hospitality Group Expands Revenue Strategy Partnership with Duetto

Duetto 17 July 2018
Hong Kong -- Artyzen Hospitality Group and Duetto, hospitality's only Revenue Strategy Platform, have announced plans to extend their partnership as the Hong Kong-based hotelier grows beyond its base in China and opens more branded properties across Asia.Artyzen has used GameChanger, Duetto's flagship Open Pricing application, since 2015 at its two resort properties in Macau: Grand Lapa and Grand Coloane. With this most recent deal, Artyzen will roll out GameChanger to its other two operating hotels, Artyzen Habitat in Beijing and citizenM in Taipei, and implement another Duetto app, ScoreBoard, to all four properties.The company has approximately 10 more hotels in development, including its Artyzen and Artyzen Habitat brands, as well as properties it will open under its joint venture with citizenM Hotels."Building on our momentum in China and accelerating growth across Asia-Pacific requires partners that are able to scale up as fast as we are," said Allan Yip, Artyzen Hospitality Group's Head of Southeast Asia and Vice President of Marketing. "Cloud-based hospitality technology like Duetto's applications make it easier and more efficient to manage our pricing, distribution and reporting. We look forward to implementing our Revenue Strategy further as we expand to important destination markets like Indonesia, Malaysia and Singapore."Artyzen uses GameChanger to yield rates independently by property and stay date, room type, booking channel and customer segment, resulting in prices that maximize profitability and increase booking conversion on its direct channels. With the intelligent-reporting application ScoreBoard, the company will significantly reduce the time it takes to produce and share forecasts, budgets and other vital reports."Artyzen Hospitality Group is a clear leader among hoteliers in Asia for merging authentic cultural experiences with truly luxurious properties," said Patrick Bosworth, Co-Founder and CEO of San Francisco-based Duetto. "The expansion of this partnership will ensure that a scalable Revenue Strategy, capable of executing a modern e-commerce experience, supports their ambitions to spread Artyzen's unique brand of hospitality throughout the region."The four hotels currently open and operating under the partnership comprise approximately 950 rooms.About Artyzen Hospitality GroupArtyzen Hospitality Group is an international hotel management company, with a head office in Hong Kong and regional offices in Macau, Shanghai and Singapore. Since its inception in 2014, Artyzen Hospitality Group has been expanding its portfolio across the gateway cities of Asia Pacific.With four distinctive brands -- Zitan, Artyzen Hotels & Resorts, Artyzen Habitat and citizenM -- Artyzen Hospitality Group offers unique guest experiences that reflect the group's philosophy. Guided by a sensibility that bridges East and West, Artyzen Hospitality Group celebrates the beauty of tradition and the heritage of the communities in which it operates. Artyzen Hospitality Group places a premium on making real connections that build loyalty and trust, and it is a champion of progressive thinking, flexibility and innovation.Artyzen Hospitality Group is a subsidiary of Shun Tak Holdings Limited, a multi-business company that has been listed on the Hong Kong Stock Exchange since 1973. The group complements Shun Tak's extensive interests in tourism and hospitality, which include a sea-land-air transportation platform. Shun Tak also has interests in property and hotel development and was among the first to introduce five-star hotels to Macau.
commercial

RSS 2018: Revenue Strategy Begins With Strong Leadership

Duetto 12 July 2018
Washington -- The sixth annual Revenue Strategy Summit brought together technology innovators and hospitality industry leaders, including brand executives and asset managers, to examine the challenges hotels face in maintaining rate growth and managing a distribution landscape that gets more complicated by the day.The one-day conference, held at the Knight Conference Center at the Newseum in Washington, D.C., combined hotelier-led panel discussions with keynote presentations on voice-activated digital assistants like Amazon's Alexa, blockchain's potential to improve hotel loyalty, and Wall Street investors' sentiment toward the travel industry.In both networking opportunities and educational sessions, startup disruptors like Koddi, Koridor and Skylark shared the stage with leaders from hotel companies like Marriott International, Starwood Capital Group and Red Roof Inn."It's gratifying to see RSS continue to grow in its sixth year," said Patrick Bosworth, Co-Founder and CEO of Duetto, which co-hosts RSS with Kalibri Labs LLC and Silver Hospitality Group. "The hoteliers who joined us for RSS recognized that they're competing with online travel agencies and newer digital disruptors to create more value for travelers. The companies that can achieve this earlier in an evolving customer journey will see continued success."Cindy Estis Green, Co-Founder and CEO of Kalibri Labs, added: "Revenue Strategy is not just the way of the future for hotels -- it's needed in the present, as the digital marketplace that has come to dominate hotel bookings only gets more complex. There are few events like RSS focused on the needs of revenue strategists, who must keep abreast of emerging technologies while remaining proficient in the blocking and tackling needed to target and deliver profit contribution and improve asset values."A prevailing theme several hoteliers brought up during their presentations was the need for what one panelist called "revenue leadership," added Stacy Silver, President of Silver Hospitality Group."The important point our colleagues heard over and over this year is an effective revenue strategy has to start with investments in our people," Silver said. "To that end, we will always strive to make RSS the conference where current and future leaders can learn from each other and guide our industry through whatever challenges or opportunities come next."For information about attending or sponsoring RSS 2019, please email Stacy Silver at ssilver@silverhospitalitygroup.com.About RSSThe Revenue Strategy Summit (RSS) is a one-day conference hosted by Duetto, Kalibri Labs and Silver Hospitality Group, bringing together thought leaders and practitioners to examine forces reshaping the hospitality industry. This innovative conference taps into industry leaders who help elevate the perspective of Revenue Strategy while addressing revenue data, marketing and technology.About Kalibri Labs LLCKalibri Labs evaluates and predicts hotel revenue performance with its cloud-based revenue strategy platform, next-generation industry benchmarking and analytical reports. The Kalibri Labs database, updated monthly, is comprised of guest stay records, including cost of sales and detailed source of business information, from over 31,000 hotels dating back more than 5 years, to give an expansive view of the U.S. hotel industry. The Kalibri Labs team is a seasoned group of executives with deep hospitality industry experience and a passion to sustain the hotel industry's financial health in a highly challenging and dynamic digital marketplace.For more information, visit http://kalibrilabs.com.About Silver Hospitality GroupSilver Hospitality Group (SHG) specializes in building revenues and profitability for hospitality companies through targeted industry relations outreach, creative marketing solutions and specialty events. The firm and its network provide unparalleled experience and relationships in all facets of hospitality.For more information, visit http://silverhospitalitygroup.com.
commercial

Duetto's Michael Skinner Wins 2018 Rakuten Data Challenge at ACM SIGIR 2018

Duetto 10 July 2018
San Francisco -- Michael Skinner, the resident "Data Whisperer" at Duetto, hospitality's only Revenue Strategy Platform, placed first in the 2018 Rakuten Data Challenge and has been invited to present at the 2018 SIGIR Workshop on eCommerce, July 12 in Ann Arbor, Mich.The competition, organized as part of the 41st International ACM SIGIR Conference on Research and Development in Information Retrieval, tasked data scientists with developing a large-scale taxonomy classification to accurately predict the category of hundreds of thousands of individual products in a sample e-commerce catalog. As the winner of the Data Challenge, Skinner will showcase his findings -- including the "Balanced Pooling Views" method he developed -- at a poster session during SIGIR 2018.Skinner won the Data Challenge by developing and applying Balanced Pooling Views, a strategy that enhances the ability of a statistical model to "read" the product titles in the data set and accurately sort them into their appropriate categories."The big takeaway from this experiment is that solving a massive challenge, like classifying a giant e-commerce catalogue, doesn't necessarily need major changes to the standard architecture of common recurrent neural networks," Skinner said. "By focusing on the learning rate -- or how fast the machine 'learns' and makes adjustments -- and experimenting with new ideas that let scientists 'train' the networks with fewer iterations, we can tackle complex problems in a more methodical fashion."Skinner, a graduate of the University of Washington and a former software engineer for Google, said his new method built upon other recent findings in the field of machine learning. Skinner's system description paper for his winning solution builds on several previously published ideas, most notably a recent paper by Jeremy Howard and Sebastian Ruder, which applied similar techniques to traditional natural-language processing tasks."As a tight-knit team of software developers and data scientists, we at Duetto couldn't be prouder of Michael's achievement," said Craig Weissman, Duetto's Co-Founder and Chief Technology Officer, and the former CTO of Salesforce.com. "His contribution to a greater understanding of machine learning's application to e-commerce will move many industries forward, especially our own in hospitality technology."Skinner added that Balanced Pooling Views' unique method, which "reads" any giant data set -- be it millions of product titles in a catalogue or an occupancy forecast for a hotel -- already has influenced new ideas and new approaches to projects underway at Duetto.

Why Personalization Is the Future of Hotel E-Commerce

Duetto 29 June 2018
Personalization in the hotel industry has ceased to be a trend. Today, it's an obligation. Back in 2015, American Express Travel reported that 83 percent of millennials would allow brands to track their habits in exchange for a more customized experience. And earlier this year, Deloitte Consulting published the white paper 'Next Gen Hotel Guests Have Checked In: The Changing Guest Experience,' which noted that "-truly knowing your guests -what they have told you, what they request, what you have learned, and what should be implied -should yield larger results."Today's hotel industry is increasingly taking this personalization message to heart, using new technology-driven tools to help them streamline the booking process and create a more seamless guest experience. When potential guests are shopping on a hotel's website, there's a clear opportunity before a booking is made for properties to demonstrate the acute attention they've paid to individual guests' preferences. This is accomplished by using website personalization technology, allowing hotels to automatically and intuitively suggest particular room categories, package types, and even rates tailored to each user's expectations.
commercial

Inn of the Mountain Gods Announces Revenue Strategy Partnership with Duetto

Duetto 19 June 2018
Mescalero, N.M. -- Duetto, hospitality's only Revenue Strategy Platform, has partnered with Inn of the Mountain Gods, an enterprise of the Mescalero Apache Tribe, to implement three of its cloud-based Revenue Strategy solutions at the integrated resort.The mountain resort on the banks of Mescalero Lake will roll out Duetto's flagship Open Pricing application, GameChanger, to refine the pricing and distribution strategies for its 273-room hotel. Inn of the Mountain Gods will also adopt ScoreBoard, Duetto's application for intelligent reporting, and BlockBuster, which Duetto's customers use to optimize their group bookings and other contracted business."Duetto's core philosophies of casino Revenue Strategy and Open Pricing were born in integrated resorts like Inn of the Mountain Gods," said Marco Benvenuti, Co-Founder and Chief Marketing & Strategy Officer for Duetto. "Even more is possible in today's gaming industry, in particular increasing total resort profitability with flexible reinvestment for players and non-gamers alike. We're excited to work with Inn of the Mountain Gods to put the latest technologies and tactics into practice."Frizzell Frizzell Jr., Chief Operating Officer for Inn of the Mountain Gods, said the resort was drawn to Duetto's Customer Success model for implementing the three applications and ongoing guidance with a new strategy that involves the operations, marketing and revenue management teams."Software requires a great partnership to realize its full potential at the property level," Frizzell said, "and we see Duetto as a true partner, with a support staff that recognizes our most important initiatives because most of them come from the gaming industry. The ability to make our pricing, group sales and reinvestment more dynamic will help our property generate even more profit from our gaming offerings, the stunning views of our hotel rooms and our world-class amenities."In addition to 273 luxury hotel rooms and suites and an 18-hole championship golf course, Inn of the Mountain Gods boasts approximately 40,000 square feet of both Las Vegas-style gaming and meeting and convention space. The resort is also known for its outdoor activities, including big-game hunting and fishing, horseback riding, zip-lining, and skeet shooting.About Inn of the Mountain GodsAn enterprise of the Mescalero Apache Tribe, the Inn of the Mountain Gods is an integrated casino resort located in the picturesque mountains of South Central New Mexico. Offering mouthwatering cuisine, incredible gaming action, chart-topping entertainment options, championship golf and an array of outdoor activities with breathtaking alpine scenery, Inn of the Mountain Gods is New Mexico's premier mountain resort destination.
commercial

Duetto Releases Definitive Guide to Cloud Technology for Hospitality Industry at HITEC

Duetto 19 June 2018
San Francisco -- The foundation for success in today's hospitality industry and for further innovation can't be found on premise at any hotel, but rather in the cloud. The Business Imperative for Cloud Architecture in Hospitality, a new whitepaper from Duetto introduced this week at HITEC, describes four ways the software-as-a-service (SaaS) framework transforms a hotel or casino's technology stack into an engine for growth."The fundamental reason for multi-tenant cloud architecture is about innovation and the speed at which a product evolves and advances," said Craig Weissman, Chief Technology Officer for Duetto and the former CTO of Salesforce.com. "Having personally developed installed software in the 1990s, I can say the difference in productivity as a developer and company is profound."The groundbreaking whitepaper argues that cloud-based systems, integrating through open APIs, will accelerate hospitality's lagging innovation in the race against disruptors like Airbnb and online travel agencies. By automating many pricing, distribution and reporting functions, while making data collected from across the tech stack unified and actionable, new tools can make hotels far more efficient and strategic.To learn how cloud architecture can lower hotels' and casinos' costs of IT ownership, while increasing their scalability and flexibility to adopt new technology, all while securing data more effectively than on-premise systems can, download this new guide from Duetto, hospitality's only Revenue Strategy Platform.Learn more directly from Duetto executives at HITEC and ROC in Houston this week, at Booth #2110. To schedule a meeting with Duetto during the conference, visit http://duettocloud.com/event-hitec-houston-2018.

Request Information

Thank you for your request, we will get back to you as soon as possible.
Close
Please enter your contact details below and we will get back to you with the requested information as soon as possible.
An error occured, please check your input and try again.


CancelSubmit

Newletter

Thank you for subscribing. Your email address has been added to our mailing list.
Close
To subscribe to the HITEC Bytes Newsletter please enter your contact details below.
An error occured, please check your input and try again.
I do want to receive the HITEC Bytes email newsletter.
By submitting this form, you have read and agreed to the Privacy Notice of HFTP.
You may unsubscribe to these emails at any time.
CancelSubscribe