Hotels Food
Data & Analytics Help In Distributing Hotel Inventory
The Internet had an impact on almost every industry out there and how could the hotel industry be an exception to this revolution. Traditional booking mechanisms like phones and agents have been replaced by OTAs, brand websites, and other channels. Some channels are more profitable or we can say less costly than others are. Hotels have to continuously make sure that they are using the most profitable channel to sell their inventory to maximize revenues. Yielding and Pricing strategy has the prime role to play in determining which channel shall be used to maximize revenues. However, some hotel revenue managers…
Hotels Food
Unleashing the Power of Hotel Technology
In today’s digitally-driven world, the hospitality industry is increasingly leveraging cutting-edge technology to revolutionize guest experiences and streamline operations. From property management systems to online booking platforms, hotel technology plays a pivotal role in enhancing efficiency, personalization and overall guest satisfaction. Let us delve into the diverse facets of hotel technology and how it is reshaping the landscape of the hospitality industry. 1. Property Management Systems (PMS) for streaming operations Property management systems are the backbone of hotel operations, encompassing various functionalities like reservations, guest profiles, check-in/out, billing and more. PMS software automates and centralizes these processes, allowing hotels to…
Hotels Food
Total Revenue Management and the Mi$$ed Opportunities
Written by: Katerina Papadima Total revenue management is not a new concept, but it is one that hoteliers will embrace more for the years to come. To implement it, though, we first need to define it. What is total revenue management? Extending Revenue Strategy Across All Departments and Guest Journeys Revenue managers have been focused on maximizing room revenue, and for a good reason: it is the highest contributing revenue stream. In the post-pandemic era, as travel levels surged and properties were running below full capacity given the staff shortages, we saw hoteliers pushing rates. As the effect of revenge…
Hotels Food
Spotlighting Past Hall of Fame Inductees
Recognized for being industry pioneers, inductees to the HFTP International Hospitality Technology Hall of Fame are the individuals behind much of the hospitality industry’s technology developments. Since 1989, 51 innovative and influential professionals have been selected to be a part of this venerated group, and this Spring, nominations are once-again being accepted for 2023 nominees. The deadline to apply is April 17, with inductees recognized at the upcoming HITEC Toronto on June 27. Jeff Edwards, also a 2023 inductee, said, “Being inducted into the Hall of Fame is a true career honor, as it is a recognition by my industry…
Hotels Food
Bhanu Chopra Recognized As ‘Founder Of The Year’ At Entrepreneur India’s Startup 2023 Awards
Noida, March 14th, 2023: RateGain Travel Technologies Limited, a global provider of SaaS solutions for the hospitality and travel industry, announced today that its Founder and Managing Director, Bhanu Chopra, has been recognized as ‘Founder of the Year‘ at the recently concluded Startup Awards powered by Entrepreneur India. In its fourth year now, the Startup Awards have been recognizing the best talent in the startup world since 2018 and have seen leading startups compete for recognition every year, where winners are decided by an eminent and diverse jury. Today India is the world’s third-largest startup ecosystem, with more than 84,012…
Hotels Food
Three Questions All Hospitality Accountants Should Ask Themselves
Written by: Shane Middleton“There has to be a better way!” We hear it all the time – even in the accounting department. The truth is that we are always hardwired to want more and better. We are always looking for that miraculous, game-changing “easy button,” not realizing that often we don’t get the most out of what we have right in front of us. Why do we do this? Two truths tend to arise in this scenario. Either we do not like to admit we are doing things wrong, or we realize that we can change, but the work of…
Hotels Food
Resort On-line Bookings Can Be Extra Worthwhile –
The individuals are uninterested in the pandemic, and so are the hoteliers. Nonetheless, the pandemic did bless the lodge business with one thing precious: a hike in direct on-line bookings. With extra searches initiating from private hand-held gadgets, metasearch are getting a lion share of searches permitting clients to discover a number of manufacturers with just a few clicks Nonetheless, the foundations of on-line lodge reserving have modified fairly a bit, and you want to perceive the market to get with the occasions. This text breaks down the present state of on-line lodge bookings and sheds mild on some methods…
Hotels Food
Occasion Know-how Developments: 6 to Know for 2022 and Past
Figuring out occasion know-how traits “and adopting probably the most beneficial ones” offers planners and venues the aggressive benefit. Research present that utilizing occasion know-how can improve attendance by 20 % and improve productiveness by 27 %. However with new occasion applied sciences rising continuously, how are you aware which of them to think about? From design by means of debrief, we have got you coated with the occasion know-how traits it’s worthwhile to know for achievement. Uncover prime occasion know-how traits for planners and venues alike: 1. Stay translation By the rise of digital occasions, planners have been in…