ROOMDEX, Inc · 14 Jul
Traditionally, hospitality has been a conservative industry when it comes to technology given that the focus has always been on face-to-face service between staff and guest. The central location for the majority of these interactions has been the front desk (or Front Office (FO) department). COVID-19, however, is changing all of this.
ROOMDEX, Inc · 16 Jun
In both economics and business decision-making, "sunk cost" refers to costs that have already happened and cannot be recovered. These are different than ongoing costs that are spent on salaries, subscriptions, insurance, etc. The concept is important because sunk costs will stay the same regardless of the outcome of any action or decision you make in the future.
ROOMDEX · 20 May
We are now in the midst of a pandemic, the likes of which few alive today have ever experienced. COVID-19 has spread to every corner of the globe, causing health care and economic devastation. The hospitality ecosystem has been particularly hobbled, with hotels being one of the hardest-hitsectors. Due to travel and social distancing restrictions, the movement of people has come to a standstill in much of the world as countries close their borders to visitors. A recent Pew study found that by April, over 90% of the world's population - a staggering 7.1 billion people - lived in countrieswith some measure of restriction for arriving travelers, with roughly 3 billion people living in countries with borders completely closed to non-citizens and non-residents.