Global Asset Solutions · 25 May
Three weeks ago, Marriott International announced they had experienced a data breach, putting the personal data of 5.2 million guests at risk (1). While this number dwarfs in comparison to the data breach of 500 million Marriott and Starwood guests in late 2018 (2), the message is clear: hotels are a target for threats and need to focus on protecting their employees' and guests' data. With the advent of COVID-19, your company's cybersecurity is at higher risk. As employees worldwide switch to working from home, the dangers associated with mobile devices, remote access to core business systems, and poor online practices are increasing. Meanwhile, as seen in Figure 1, hackers have been heightening their malicious efforts knowing that businesses are more vulnerable now (3).
Global Asset Solutions · 11 May
Our industry is currently at a standstill. There is no previous precedent, no historical data to refer to. Revenue Management (RM) systems do not have reliable data to process: they will not work. Most of your positions as Revenue Managers probably did not exist yet during the 2008 Financial Crisis. And you did not expect to handle nor know how to deal with a crisis of this extent. How do you move forward? How can a hotel use RM effectively in a market with little supply and nearly no demand? Here is the solution.