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Avoiding the RevMan Bottleneck: How to Efficiently Manage Your RFPs

The Rainmaker Hospitality and Gaming Blog 19 October 2017
Bottlenecks are an inconvenient part of everyday life. We experience them in traffic, at the store checkout, and especially the DMV. Even though we have to tolerate them in our daily world, we shouldn’t have to put up with the inefficiencies that bottlenecks create when we’re trying to process group business requests for proposals (RFPs).

Netflix and Why the Future of Streaming Looks Like Old-School TV

harvardbusiness.org 19 October 2017
Netflix hit the industry with some bombshell moves this month. First, it announced that it plans to spend $8 billion on original content next year (including on 80 new movies). This is far more than any other online player. Obviously, this is great news for its 100 million-odd customers worldwide.

How machine learning boosts personalisation in travel

eyefortravel.com·Requires Registration 19 October 2017
Data is everywhere but how do you create value for individual users? It isn’t easy but in this case study we hear how data science can deliver more personal results Consider this common hypothetical scenario. A user opens a browser and taps in ‘cheap flights from Boston to London’. Needless to say, what appears first in search are the ten blue links from Google. After some surfing, the user is then drawn to a metasearch engine like Skyscanner, Kayak or Momondo, where flights can be filtered by date and price. Here the cheapest deal is, let’s say, from Norwegian Airlines, and as the meta aggregates offers from various providers, the user again opens multiple links to deals from online travel agencies (OTAs). Time spent on each site is never much longer than around 30 seconds.

Dive in and Discover at the 2017 Annual Convention

HFTP Connect 18 October 2017
As a first-time participant to the HFTP Annual Convention (possibly the first from the Middle East area), I will be looking for all of the insights the event will provide during its three-day agenda later this month. I believe this convention will be the best of its kind (those of an educational and informative nature) and provide tremendous networking opportunities.

AI in the Hotel Industry: A snapshot of the potential impacts

SiteMinder Blog 18 October 2017
The concept of artificial intelligence (AI) is nothing new. It has populated classic novels and films for decades. The theory and imagination always existed for such a creation, but technology was too limited for it to exist in reality.

Five Myths About Property Management System Integrations

SMS Blog 18 October 2017
Integration is a hot button topic in the hospitality world. New systems and opportunities appear each day, while longstanding PMS and CRS providers work furiously to integrate with the latest additions to the hospitality technology landscape. The situation can be frustrating for both the hotelier and the PMS provider. However, everyone has the same goal to ensure that hotel and resort systems communicate effectively. Let’s dispel these five common myths about PMS and integration.

The Future of Revenue Management Series: Revenue Managers

IDeaS Blog 18 October 2017
The function of revenue management within a hotel organization has evolved significantly since its inception. The proliferation of industry data and channels only solidifies what we’ve already realized: revenue management is in the midst of an analytical tsunami.

New Casino Loyalty Feature Will Help you Book More Loyal Guests

Duetto Research Blog 17 October 2017
The Find My Rate app gives you instant access to your guests’ loyalty rates anywhere, anytime. Casino hosts and front desk employees are using it daily to quote personalized rates to guests at their properties by simply entering in their member IDs and stay dates. We’ve added a feature that’s going to help streamline your workflow after a guest has decided to stay with you. The casino host can simply click the “Reserve” button next to the desired room type to add the reservation request to a brand new Reservation Queue screen.

SnapShot and CS-Solution Join Forces to Provide First Class Hotel Analytics to Hoteliers in Vietnam

Snapshot Blog 17 October 2017
SnapShot, leading provider of fully integrated applications for the hospitality industry, announced today that it has entered a partnership with Vietnamese PMS and Technology company CS-Solution. Through this partnership, CS-Solution clients can now use the complimentary SnapShot flagship product, Analytics, which allows hoteliers to apply in-depth analysis of their property happenings, on and offline.

Duetto Announces Revenue Strategy Partnership with Owner of Harry's Home Hotels

Duetto Research Blog 17 October 2017
Duetto, the hospitality industry's leader in Revenue Strategy technology, has partnered with Harry's Home, Adlers and Schwarzer Adler in Innsbruck, run by the influential Ultsch family, to bring the cloud-based applications GameChanger and ScoreBoard to Austria, Germany and Switzerland. 'The DACH region is a place where our company and The post Duetto Announces Revenue Strategy Partnership with Owner of Harry's Home Hotels appeared first on Duetto.

SiteMinder named among The Silicon Review's 50 best companies to watch

SiteMinder Blog 17 October 2017
A decade of market disruption has earned the global hotel industry’s leading cloud platform, SiteMinder, a place on The Silicon Review’s 2017 list of the ‘50 Best Companies to Watch‘. The Silicon Review is one of the leading magazines for business and technology professionals around the world, focusing on innovative enterprise solutions developed by established industry providers.

Pricing Optimization: Leveraging external examples

Sabre Corporation Blog 16 October 2017
Amazon, Google Adwords, and Uber – what do these companies have in common? And, what can your airline learn from them? While the airline industry is vastly different from the sharing economy platforms and online retailers of the world, there is much to be learned from these players about effective pricing strategies. In fact, the majority of leading Internet marketplace companies use dynamic pricing as a solution when confronted with a scarcity of supply.

Technology Holds the Key to Personalized Rate Offerings

Duetto Research Blog 16 October 2017
Seven trending hotel news stories that will have an impact on your hotel Revenue Strategy. 1. ADVANCED ANALYTICS WILL FUEL ABILITY TO PERSONALIZE: According to a McKinsey & Company report, the time is close when hotel marketers and revenue managers will be able to deploy a range of technologies—including predictive analytics, geolocation data and artificial intelligence—to create ultra-personalized (McKinsey calls it “radical”) offers, experiences and pricing to hotel guests. The authors further project that advances in machine learning will improve hotels’ ability to optimize pricing through more accurate analyses and predictions based on market demand signals, local room availability, and a deep understanding of the individual customer’s willingness to pay. Advancements in analytics will also enhance revenue managers’ abilities to forecast business.

The Future Of Guest-Facing Hotel Technologies

Handy Travel Blog 16 October 2017
Guest facing hotel technologies are undergoing a fundamental shift. Over the next few decades guest-facing technology is going to take a central and interactive role in hospitality. We already know it’s going to put a lot of people out of jobs, but still, it’s hard to imagine that interactive technology could ever actually ever take the place of the hospitality industry’s most valuable resource: helpful, friendly people. It is certain, though, that interactive smart technologies will add a new dimension to guest service that we’ve never seen before.

Revenue Management is Key Hub in Hotel Operations

Duetto Research Blog 13 October 2017
There is no more dynamic or interdependent business than the operation of a hotel. It’s an environment that brings together various functions —from food and beverage to housekeeping to maintenance to sales and marketing — all under one roof, and with a common goal of maximizing profitability. And while each function is separate, they must all work together and communicate with each other to create an operation that efficiently meets or exceeds guest expectations while maximizing sales and profits for ownership.

SnapShot Collaborates with RevMax, Vietnam's First Professional Revenue Management Consultancy, to Provide Hotels with Cutting-Edge Analytics

Snapshot Blog 13 October 2017
SnapShot, leading provider of fully integrated applications and analytics for the hospitality industry, announced today that it has joined forces with RevMax, Vietnam´s first professional Revenue Management consultancy. By the forge of this new partnership, RevMax becomes an authorized distributor and reseller of SnapShot in Vietnam. RevMax´s customers can now have complimentary access to SnapShot´s trademark Analytics dashboard, which provides hoteliers with extensive insight into their properties happenings, on and offline.

Calling Hotels: Take a Part in HEDNA Hotel Analytics Working Group Survey

Snapshot Blog 13 October 2017
analytics survey.png As announced during the Dublin conference in June, HEDNA has launched a new Hotel Analytics Working Group, tasked with establishing best practice guidelines that will empower hoteliers to optimize how they collect, store, analyze and action their data to make intelligent decisions about their distribution strategies.

How to increase your hotel's occupancy rate

SiteMinder Blog 13 October 2017
In order to improve your hotel’s occupancy rate, there are a few things you need to consider. For example, you want to know how to calculate your current occupancy rate, how optimal your current rate is, and whether there are specific times you should be focusing on.

Group Pricing: Why the Minimal Acceptable Rate is a Trap

The Rainmaker Hospitality and Gaming Blog 12 October 2017
revmgmtebooks.png By now, we're all familiar with the challenges of forecasting and bidding for group business. While those are all crucial to group business, the most important aspect is, of course, price. As the goals behind group business shift from occupancy to revenue, the process of accurately pricing rooms has become infinitely more complicated. Revenue managers have to consider comp sets, sales incentives, availability, and impacts on transient business before determining a room rate. Due to a lack of technologically advanced tools and the multitude of considerations for group business, pricing rooms has primarily been a tedious, manual process.

When cognitive AI, CRM and mixed reality collided

eyefortravel.com·Requires Registration 12 October 2017
VR and AR are now widely known terms for travel brands but could ‘mixed reality’ deliver something different? Imagine a day when cognitive artificial intelligence (AI) and customer relationship management insights all come together in a digital display on the screen of a pair of slick high-tech glasses? Is this the future of customer service for airlines, hotels, cruise companies and more? Stuart Greif, a senior executive at Microsoft, who is speaking in Las Vegas, whose one area of focus is travel and hospitality, believes so.

[Infographic]Ten Things City Hotels Need to know When Choosing a Hotel Property Management System

Hotelogix Blog 12 October 2017
The selection of an appropriate hotel management system can be a tricky one for hoteliers. With the market flooded with innumerable options, it’s easy to feel a little unsure about the kind of hotel management system one is looking for. Every hotel property has a different set of amenities and caters to varied target groups. While the leading names in the hospitality industry have already moved towards using hotel property management system (hotel software) for automating their daily functions, the small and mid-sized owners are left in a state of debate.

The Top 5 Hotel Revenue Management Trends and Changes in 2018

Xotels Blog 12 October 2017
Hotel revenue management trends move fast. The sector has evolved at a remarkable pace and is set to continue this course. It’s an exciting time to be a part of such a fast-moving industry and hotels can benefit from taking advantage of the new trends that are shaping it.Hotel revenue management trends move fast. The sector has evolved at a remarkable pace and is set to continue this course. It’s an exciting time to be a part of such a fast-moving industry and hotels can benefit from taking advantage of the new trends that are shaping it.

Which came first: the forecast or the price?

IDeaS Blog 11 October 2017
This is right up there with the philosophical riddle, “which came first, the chicken or the egg”. As a metaphor it provides lively conversation and debate, even when the answer may not be as straight-forward or absolute as one would hope.

Hospitality Pricing Differentiators: How to Determine Hotel Room Prices

The Rainmaker Hospitality and Gaming Blog 10 October 2017
In the hospitality realm, pricing is the revenue manager’s tool for exerting control over how and when rooms are sold to consumers. Every room on every booking date is an opportunity for managers to set unique prices that will maximize net revenue. Pricing should be holistic, comprising not only room pricing but the potential total spend of the visit.

'Technology will get you 70% of the way': SiteMinder's Mike Ford speaks at Maximum Occupancy

SiteMinder Blog 10 October 2017
Technology can solve most of your hotel’s problems, but you must overlay it with smart and considered strategies. That’s the message from SiteMinder CEO Mike Ford, who spoke on a panel at Maximum Occupancy 2017, alongside Amadeus and RMS. Maximum Occupancy is an annual event, educating hoteliers in the Australia-Pacific region on the latest trends in travel and technology, as well as key performance metrics and forecasts. Once armed with this vital data, they learn how to implement effective and profitable strategies for their hotel business.

Guestline CTO talks about future proofing your hotel business

Guestline Blog 10 October 2017
Most of the technology industry has moved towards the idea of seamless integration and data flows, enabling richer functionality and greater potential to enhance that functionality too. It is hard to ever fully know how the hospitality industry will evolve in a similar vein. In some ways the sector has been slower – up until now – to adopt the integrated mindset as comprehensively as other industries. For instance, many hotels still host much of their system within their premises, largely due to the need for a physical presence. Encouragingly, more office-related systems are now hosted in the cloud, enabling workers to access systems remotely and therefore also allow the integration of other remotely-hosted systems.

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