Data Quality Vital To Total Revenue Forecasting
Data Quality Vital To Total Revenue Forecasting — By Michael McCartan

Duetto · 24 May

Total Revenue Forecasting (TRF) enables hotels to get a better picture of both rooms revenue and ancillary revenue in order to plan more strategically. This may be in terms of resourcing. For example, anticipating demand before it arrives can enable you to spend marketing money more accurately. It can show where demand is weak, not only in rooms but also in other revenue-generating areas of your hotel.

Hotel Expiration Dates: Fact or Fiction?
Hotel Expiration Dates: Fact or Fiction? — By Mark Lewis-Brown

Vertical Booking USA · 24 May

Expiration dates: they're super common in some industries - they are regularly seen on consumer-packaged goods, food and drinks, medicine, etc. - but the idea of an expiration date isn't often applied to the hotel industry.

How Smartconcierges Can Make Every Guest Moment Matter and Improve the Guest Journey
How Smartconcierges Can Make Every Guest Moment Matter and Improve the Guest Journey — By Raj Singh

Go Moment · 23 May

Today, brands are essentially collections of experiences. We're in an era where people remember moments and experiences, not ads or logos. In this age where "CX is the new UX," there are six common objectives in the digital transformation of travel's customer experience that hotels need to consider as part of their strategy to build their brands through personal interaction. These objectives include frictionless interactions at every touchpoint, the ability to communicate through preferred/multiple channels, personalization, reducing problems while improving wonder and delight, inspiring loyalty, and accommodating the needs of the new generations of travelers. This is all in addition to delivering traditional standards of exceptional hospitality like welcoming guests by name, responsiveness, affability, following up on requests, creating ambiance, and so forth. It's a tall order to sustain essential guest service levels while crafting the ideal digital experience.

Hotel Tech: How to Use It to Gain a Competitive Edge
Hotel Tech: How to Use It to Gain a Competitive Edge — By Lillian Connors

Bizzmark · 23 May

In today's extremely competitive business environment, hotels miss no opportunities to attract new guests and get a running length ahead of the competition. One of the main weapons in their arsenal is technology. Constantly expanding opportunities to improve customer satisfaction, hotel managers have their sights at using technological solutions to their advantage. Here are a few effective examples.

The Virtualization of an Amenity: A New Way To Delight Your Guests
The Virtualization of an Amenity: A New Way To Delight Your Guests — By Adam Hoydysh

Plum · 22 May

Any hospitality professional knows that the modern traveler wants it all - but they also want it delivered in a faster, more efficient, and more attentive manner. As our world continues to change and adapt under the influence of increasingly automated, smart technology, consumer expectations, and trends are shifting in tandem. What was once the industry standard has, in many cases, been replaced by tech-enabled enhancements that provide instant gratification, simplified touch-points, and personalization. Consumers are used to ATMs at the bank instead of tellers, checking in for airplane flights online, and they are now looking for that same efficiency when they arrive at a hotel. No one wants to wait in line for the front desk anymore. Travelers especially are increasingly in favor of self-service platforms, and technology which taps into (and leverages) their data for a more refined, meaningful experience. This is further exemplified by studies revealing that when it comes to hotel guests, 63% prefer tech-enabled lobbies, and 84% prefer mobile check-in and check-out. However, in the case of hospitality, this brings hoteliers to a conundrum, of sorts. Sure, the modern guest craves an experience that is primarily defined by efficiency and instant gratification - but what about those traditional markers of great hospitality? If hotels empower guests to bypass the front desk and classic touch-points entirely, are they then missing out on the opportunity to engage with those guests? How can hotels find the balance between service that is as efficient and streamlined as it is attentive and memorable? Traditionally, the front desk marks an opportunity for hotel staff to make a lasting first impression; welcoming the guest by name to make them feel appreciated and at home. This was also a prime opportunity for staff to offer certain 'wow' moments, raging from personalized upgrades to complimentary glass of wine or champagne for loyal guests. Of course, these meaningful moments could be easily thwarted in the case of lines and frustrating delays or missed opportunities for personalization. If this is the dilemma which gave life to the self-service movement, allowing hotel staff to better focus their service efforts and guests to bypass notoriously time-consuming touch-points, how can hotels still go the extra mile for incoming guests? And to take this a step further - and by a step further we mean, what if we could extend this into each guest's room? As a matter of fact, we think there is - with the transformation of in-room beverage service by way of single-serve red or white wine by the glass via Plum. As hotels continue to evolve their in-room F&B strategy from traditional mini-bars with next-generation in-room appliances such as by the glass wine, we realize the unique opportunity to virtualize an amenity. That memorable gesture of a complimentary glass of wine offered at the front desk, whether to welcome a guest, reward loyalty or recover guest service, can still be fulfilled even without that physical touch-point at check-in. Considering that 80% of luxury hotel guests drink wine regularly, this represents an especially appealing service offering for leisure and business travelers alike. Now, let's tie this back to the initial discussion of the self-service model. The increasing guest demand for self-service technology is largely rooted in the desire for an efficient, seamless experience that offers enhanced autonomy. Ultimately, guests like to be in control - to be provided a service, yes, but in control. With the help of an in-room wine appliance, hoteliers can go the extra mile for guests with a special offer that is (a complimentary pour for example) completely self-service. Using the in-room device, guests can easily serve themselves a glass of red or white wine, chilled and on demand.

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Yelp Launches Green Practices Initiative to Highlight Restaurant Sustainability Efforts, Reduce Plastic Waste
Yelp Launches Green Practices Initiative to Highlight Restaurant Sustainability Efforts, Reduce Plastic Waste

green lodging news · 22 May

Yelp has launched a Green Practices Initiative to begin surveying consumers and understanding how to better assess the sustainability of a restaurant

Finding a Cloud-Based PMS Solution That Will Take Your Hotel Business to the Next Level
Finding a Cloud-Based PMS Solution That Will Take Your Hotel Business to the Next Level — By Brittany Berger

HospitalityTechGuru · 21 May

Cloud technologies date back to the 1950s and we only learned about them during the 90s when "cloud computing" was introduced. Ever since the start of the 2000s, cloud solutions have been adopted commercially with constant growth. When it comes to the hospitality industry, cloud-based hotel PMS solutions are the manifestation of the cloud.

Ten Golden Rules to Improve Guest Experience with SMS
Ten Golden Rules to Improve Guest Experience with SMS — By Mathieu Pollet

LoungeUp · 21 May

SMS is one of the most personal communication channels and by far the fastest one. It would seem only logical, therefore, that highly-personalised service providers like hotels would use this type of communication to ensure their guests have a great stay. Surprisingly though, most hotels don't use SMS at all to interact with their guests.

How Sabre Is Tackling Its Airline Tech Challenges
How Sabre Is Tackling Its Airline Tech Challenges

skift.com - Digital · 21 May

Sabre has sold operational tools to airlines for years, but the business unit became complacent. CEO Sean Menke has revved up the travel tech company

A new way of thinking about property management systems: the API first approach
A new way of thinking about property management systems: the API first approach — By Margaret Ady

apaleo GmbH · 20 May

Imagine if every time you wanted to install a new app on your smartphone, you had to call the maker of your phone to ask about it, then schedule a date far in the future for one of their representatives to come to your house, get it working on your phone, and charge you heaps of money in the process. You wouldn't stand for it, right? Then why go through a similar process when working with your property management system (PMS)?

This German Startup Aims to Have a Fleet of Jet-Powered Flying Taxis by 2025
This German Startup Aims to Have a Fleet of Jet-Powered Flying Taxis by 2025

skift.com - Digital · 19 May

Lilium's five-seat aircrafts can operate in pilot or drone mode, but the company must raise more venture capital dollars for it to reach its goal.

Navigate the Pitfalls Motel Valuations – Part 1
Navigate the Pitfalls Motel Valuations – Part 1 — By Rodney G. Clough

HVS · 17 May

Independent, budget motels are often operated by resident owners that are talented at running efficient, safe motel operations but lack sophisticated and complete financial models that generate proper reports upon which to base purchase and valuation decisions. It is important for a buyer to understand that available financial information may not tell the full story, and relying solely on what is available may sell short the profit potential of the hotel and, ultimately, its true value. In Part 1 of this series, I discuss the importance of deriving a proper revenue estimate and testing its reasonableness against the norms for the neighborhood and market.

RevPAR Is Only One Piece of the Picture
RevPAR Is Only One Piece of the Picture — By David Eisen

HotStats Limited · 17 May

Imagine you're scouting a young baseball player or footballer—someone experts have pegged as the next Derek Jeter or Lionel Messi. You can't, however, just take their word for it; you have to see their performance for yourself and also dig into the numbers—into how they rate statistically.

How Hotels Can Embrace the Experience Economy
How Hotels Can Embrace the Experience Economy — By David Millili

runtriz™ · 16 May

Atif Rafiq begins his tenure at MGM Resorts this month. A departure for a casino hotel operation that would typically hire from within the industry, Rafiq's background isn't in hotels at all. Instead, his most recent position as chief digital officer and global chief innovation officer at Volvo Cars signifies a shift in the way MGM is thinking about hospitality, moving away from traditional approaches and toward digital experiences. As Rafiq tells Skift, "Being a Silicon Valley native in tech companies, I want to think about how to bring the digital and physical together. I'm looking at it how a tech company would look at it."

Beware the 7 Warning Signs You Have an Outdated Hotel PMS
Beware the 7 Warning Signs You Have an Outdated Hotel PMS — By Ryan King

StayNTouch Inc. · 16 May

The success of modern hotel brands is often directly correlated with the technology and procedures put in place to support their staff and operational structure. Favoring legacy systems over newer, more innovative platforms can negate a hotel's ability to provide the hyper-personalized and seamless experience guests now expect. Unfortunately, this is an all-to-common crux within the hospitality industry. Simply put, without the right tools and infrastructure in place, hotel staff won't have access to the resources they need to provide a guest experience that leaves a lasting impression. This discussion becomes especially important when we look to the heart of any hotel's operational structure - the PMS system. However, today's PMS is noticeably different than in the past - and it has never been more important for hotels to keep ahead of the technological curve. After all, technology is key to managing every stage of the guest journey. With this in mind, we've compiled a comprehensive breakdown of the seven primary warning signs of an outdated hotel PMS system. Hoteliers, beware - these shortcomings could be standing in the way of your property's true potential! 1. Your Lobby is Filled with Lines, Rather than Happy Guests Long queues to the front desk were once a frustrating staple of the hospitality industry 一 but fortunately, those days are behind us. With the help of modern PMS systems, your property can offer guests complete autonomy over their on (and off) property experience with a choice between high-touch service, mobile check-in/out, keyless entry and self-service kiosks. Not only do guests appreciate being able to choose their preferred service model, but this ensures there are no unnecessary delays or complications derived from front desk lines and over-extended staff. If you're still using a legacy PMS without a mobile component, your guests will certainly notice...while they're waiting in line to your front desk. 2. Updates are Never Automatic - But Always Costly Perhaps one of the most notorious traits of legacy PMS platforms is their lack of automated updates. Systems that are not cloud-based or easily integrated will constantly require costly manual updates and upgrades, that often require a technician to install. And Every time you add a new app or features change, your legacy system will require a new update or configuration. Fortunately, mobile PMS systems can future-proof their hotels' business, through automatic upgrades and open APIs. Even better? No surprise, or hidden costs due to manual upgrades down the line - that's all taken care of, automatically and without interrupting your regular operations. Your property will be empowered to grow with unlimited interfaces while staying ahead of market trends.

Why is Hotel Technology Lagging Behind the Rest?
Why is Hotel Technology Lagging Behind the Rest? — By Jos Schaap

josschaap.com · 16 May

Let's imagine you walked into the office of a digital marketing agency in anticipation of a job interview, only to notice that employee desks were equipped with cumbersome, old school PC monitors paired with dial-up internet. Upon further inspection, you realize that rather than using the cloud for storage, they still rely on floppy disks. And the company phones they provide are not smartphones, but (brace yourself) - flip phones. Of course, this paints a rather preposterous picture when we consider the stark contrast provided by the tech-savvy landscape in which we currently live. If anything, we find ourselves in something of a perpetual state of the digital revolution - industries across the globe are transformed, time and time again, by emerging technology. The days of dial-up modems, floppy disks, MP3's and CD players, tube televisions, Blockbusters (and so much more) are behind us. In their place, we welcome a hyper-digital age in which instant gratification, enhanced efficiency, self-service, and uninhibited digital connection are the norm. From Netflix to Uber Eats and Apple Music, artificial intelligence to voice-activated assistants, virtual reality and more, the digital landscape has never looked more promising and expansive. Now, if you did walk into the office described above, you would probably find yourself asking, "How can you consider yourself a digital agency, without modern digital resources? How do you serve your clients effectively?" Nevertheless, it's this precise line of questioning that hospitality professionals must face, as we acknowledge our industry's longstanding reputation for slow technological adoption. Today, when a traveler arrives at the airport, they expect to be greeted with a choice: self-service, or in-person service at the desk. Airlines have successfully streamlined their operational structure to cater to both a low-touch and high-touch experience that not only empowers each traveler to choose their preferred service model but better supports their staff. The check-in experience has become almost entirely automated; often, agents are only needed for assistance when an exception arises. However, despite this digital evolution showcased across our industry counterpart, hotel front desk processes have hardly changed over the last 100 years - and the front desk is only one piece of our (now stale) pie. In a 2015 article coined by Buzzfeed speaking to the hotel industry's "race to escape the dinosaur age", Mariah Summers wrote: "How many times have you entered your room at a large chain hotel, thrown your luggage down to relax, and noticed the antiquated stereo system with an iPod dock from three models ago perched on the bedside table? Next to it lies a paper room-service menu and a clunky, ancient telephone to use if you want to order up a late night snack. And this encounter comes after you've just spent the better part of half an hour waiting in line to show your identification, leave your credit card for incidentals, receive your room key, and navigate your way into a scene straight out of 1999." This outward resistance to technological change has become something of an industry-wide, accepted truism. However, if the hospitality industry is founded upon the on-going provision of exceptional guest service, how can we expect to thrive without implementing modern guest service technology? How can we best serve our guests, if we aren't investing in the technology and service style they prefer? After all, the solutions we need exist; they are finally (undeniably) within reach - so, why are hotels lagging behind? Is it a lack of budget or innovation? The fault of the franchise model? A general apprehension of new, digital systems? In my experience as a hospitality professional, I've become hyper-aware of the reluctance many hotels express in the face of change. Migrating beyond the legacy systems that were once our operational backbone to more flexible, intuitive solutions requires investment and the dedication of resources to adopt new operational processes. While these shifts may seem intimidating or costly at first glance, we have to remember that every successful service or product, regardless of industry, has found (and maintained) their success through continued evolution. Within the customer service landscape, it is (unsurprisingly) the customer that ultimately decides the course that a business takes. And if a prospective company refuses to adapt to those expectations, another business will, and customers will follow. Airlines took this realization and applied it to their operational model, adopting the modern, self-service technology that travelers crave with the understanding that, in the long run, that investment would: • Reduce costs • Create a more streamlined and efficient operational structure • Establish a smoother, more efficient check-in experience for travelers • Keep airlines on par with digital standards across other industries Banks have also committed to on-going technological adoption, redesigning their customer experience to empower a self-service model that implores instant gratification and 24/7 efficiency. Exceptional cases aside, customers can manage their banking needs entirely from their phone, PC or at a self-service ATM. Much like airlines, banks understood that this operational overhaul with updated technology would reduce costs and establish a far more positive customer experience. Lastly, let's turn our attention to an especially nostalgic example - Blockbuster. Driving to the closest Blockbuster and picking out a movie on Friday night was once a beloved family staple; and yet, it has been made entirely obsolete. With the emergence of Netflix, Crave TV, Apple TV (and more), we now simply hit the download button on our phone or TV to watch the latest movie anywhere, at any time. In all three examples, the process of service has transitioned from the use of an agent or service representative to a self-service experience that is supported and delivered by digital technology. So, why haven't we? The hospitality industry finally has a wealth of technology at its fingertips, with solutions available to offer:

How to Add Value to Your Hotel Asset
How to Add Value to Your Hotel Asset — By Carrie Russell

HVS · 16 May

At the most basic level, the value of a hotel is based on the property’s net income divided by a capitalization rate. As such, one has two possible levers to adjust as a means of increasing a property’s value: either increase the property’s net income or decrease the capitalization rate.

The Future of Artificial Intelligence in Customer Support
The Future of Artificial Intelligence in Customer Support — By Laura Tubbs

TeamSupport, LLC · 16 May

We live in an era where technology is advancing so quickly that it's hard to keep up. Think back to ten or even twenty years ago when you needed to get to a business meeting. You had to print out your plane ticket, rental car information, and sometimes even directions on where you needed to go.

Yes or No: Is a global guest profile the future of travel?
Yes or No: Is a global guest profile the future of travel?

eyefortravel.com · 15 May

Privacy, security and unwanted competition are among the challenges and ultimately consumers must decide but questions remain.

Why You Should Choose Automated RMS
Why You Should Choose Automated RMS — By Aymeric Erulin

Aymeric Erulin · 14 May

After writing my last article (Three ways to upper your revenue management game), I was surprised by a few questions I received from hoteliers doubting that automated RMS could do a better job than a senior revenue manager. Hence, my profound belief that the industry should adopt automated RMS, the software will not fully replace a revenue manager whose mission will go far beyond pricing & planning.

Converged CRS And PMS Are Finally Here! Now What?
Converged CRS And PMS Are Finally Here! Now What? — By George Roukas

Hudson Crossing · 14 May

Much has been written recently about the convergence of central reservation systems and property management systems. There are two reasons for all the writing: first, because it represents such an improvement in how hotels process their bookings and manage stays, and second because we've been waiting for over a quarter century for these converged systems to appear. Now that it looks like convergence is finally going to happen, let's consider its context and look ahead to convergence's wider implications:

How the Travel Industry Should Up Its Online Game To Win Over Millennials
How the Travel Industry Should Up Its Online Game To Win Over Millennials — By Josh Camire

UserTesting · 14 May

Millennials aren't only the first generation to come of age in the new millennium, they may be the most travel-crazy generation ever.

How Social Media, Ride Sharing Can Help Hospitality
How Social Media, Ride Sharing Can Help Hospitality

Hospitality Technology Magazine · 14 May

The smartphone seemingly finds itself in the daily narrative of almost every business model. And that’s because, well, the millions of things you can

The Best 5 Wine Apps
The Best 5 Wine Apps — By Tom Gearing

Cult Wines · 13 May

Like a fine wine, we’ve got better with age and now wine apps are a thing. The world of wine can be overwhelming, intimidating and complex with ‘vionology’ confusing beginner wine enthusiasts wishing to learn more. Luckily, the experts at Cult Wines (www.wineinvestment.com) have put together a list of the best 5 wine apps to use when choosing your next drink.

Renovation Extraordinaire: The New Award-Winning Statler Hilton, Dallas TX
Renovation Extraordinaire: The New Award-Winning Statler Hilton, Dallas TX

Hotel Business Review by hotelexecutive.com · 13 May

The Statler opened in 1956 as a 1001-room hotel, convention center, and gathering place for the "Who's Who" to lodge when visiting Dallas. Notable gu

Guest Satisfaction: Integrating Data to Influence Intent to Return and Recommend
Guest Satisfaction: Integrating Data to Influence Intent to Return and Recommend

Hotel Business Review by hotelexecutive.com · 13 May

Guest satisfaction data, while critical, will do little to increase intent to return and recommend if an operator lacks the ability to view it in the