Shopper Psychology Performs Function in Pricing Lodge Meals and Beverage
Lodge friends’ expectations for food-and-beverage choices have risen with the record-high common each day charges throughout the nation. However assembly these expectations amid staffing points isn’t any piece of cake.
Panelists on a session titled “Worthwhile F&B? Sounds Scrumptious!” on the 2022 Lodge Knowledge Convention spoke in regards to the shift in eating and ingesting traits over the previous 12 months and the way they’re adjusting to greater visitor expectations.Pricing Utilizing Knowledge
Meals-and-beverage administrators are working extra carefully with income administration specialists to make sure menu objects are priced on the most worthwhile charge.
Whereas most lodge eating places aren’t pushing dynamic pricing fairly but, knowledge being collected no less than weekly helps inform administrators when to alter the menus, mentioned Steve Palmer, founding father of The Indigo Highway Hospitality Group. Flexibility has allowed the corporate to function at present at its lowest meals prices, he mentioned.
The shift in each day pondering primarily based on room charges and raised expectations has compelled food-and-beverage administrators to assume exterior the field to ship on the experiences coveted by friends, Guido Salvatori, senior director of integrations at Duetto, mentioned. Tying all the information collectively could be a problem, although.
“The way to take this knowledge and make sense of it and now begin to have the ability to alter the pricing and be capable of incorporate it into your total technique, it is tough,” he mentioned.
Richard Garcia, senior vp of meals and beverage at Remington Lodges, mentioned his employees combs by its price range every single day to remain on prime of prices. The largest shock within the knowledge shouldn’t be the price of meat and seafood, however the rise in worth of widespread items akin to flour and sugar.
“When you’re not taking note of these primary commodities, I’d extremely recommend you do,” he mentioned.
Learn the complete article at HotelNewsNow (a part of CoStar)
Be a part of Your Fellow Hospitality Professionals On-line in New HFTP Neighborhood Teams
By: Mark Pate Sr., CHAE, CHTP, MBA, HFTP International President
Are you searching for that subsequent position to take your profession upwards the place you need it to go – or maybe looking for to fill a vital position at your organization with the precise particular person? Are you attempting to unravel a seemingly insurmountable drawback at work – or simply questioning if there are different folks on the market fighting an {industry} problem such as you? The perfect reply usually lies in constructing connections.
Because the president of an affiliation, I realized way back the worth of getting concerned in a bunch of execs in the identical {industry} and discipline of labor who can share in your trials, tribulations, successes and progress as you make your method by way of a decades- lengthy profession journey. Associations are an important basis for creating these all-important relationships; they supply numerous alternatives for networking and engagement.
Take HFTP, for instance – I simply joined greater than 6,000 hospitality professionals and stakeholders at HITEC, the most important hospitality expertise occasion on the earth, the place I spent a number of useful days attending events, dinners, schooling classes and toured the exhibit corridor with colleagues and pals , each new and previous. I’m additionally very engaged in my native HFTP chapter and attend the HFTP Florida Regional convention often, which permits me to attach with professionals in my direct space.
Then, there are all the net alternatives to have interaction, and with a strong, international membership, meaning numerous potential new supporters from all around the world – and that is the place HFTP’s new on-line Neighborhood Teams are available in very useful. These neighborhood teams assist you to have interaction in discussions and Q&A based mostly on particular segments of the {industry} corresponding to lodge and membership and matters {of professional} curiosity corresponding to expertise and finance.
Be a part of Your HFTP On-line Neighborhood for Camaraderie, Suggestions and Options in Three Straightforward Steps
Step 1: Ensure you have entry in your pc and cellphone. To get to your HFTP neighborhood teams on on-line, you should be logged into your HFTP on-line account. Go to www.hftp.org to create your account or log in. I additionally encourage you to obtain the HFTP Membership & Occasions app to entry the neighborhood teams proper out of your cellphone! Seek for the app within the Google Play and Apple shops.
After you have it put in in your cellphone, select the HFTP Member App inside the checklist of guides to attach with different members within the HFTP Neighborhood Teams, handle your membership, get the newest HFTP information, message inside the app and extra.
Step 2: Electronic mail [email protected] to request admission to the HFTP neighborhood group(s) you need to be part of. Which industry-focused dialogue do you need to be part of? There are at the moment three teams arrange so that you can select from: Membership Skilled Change, Lodging Finance and Lodging Know-how.
If you’re a member of an area HFTP chapter or affiliation advisory council, it is possible for you to to hitch these choose, invitation-only neighborhood teams, as properly.
Step 3: Get engaged! When you turn out to be a member of your neighborhood group of selection, begin connecting. Ask questions of your fellow hospitality professionals, or lend sage recommendation to another person. That is your alternative to get to know most of the professionals working in direction of comparable targets within the nice hospitality {industry}.
Hope to see you within the dialogue quickly!
Mark Pate Sr., CHAE, CHTP, MBA is the HFTP International Board President and assistant controller & IT director for Highpointe Lodge Company.
Can Proptech Remedy the Asset-heavy/ Asset-light Dilemma?
Written by: Victoria Loing
In a globalized world and really aggressive setting, lodges are preventing to stay leaders of their market. Which manufacturers to develop? How one can retain clients? Which modern expertise to implement? Which enterprise mannequin technique to observe? These are a non-exhaustive checklist of questions resort teams ask themselves to carry out in a continually evolving setting. This weblog will concentrate on the asset-heavy/asset-light technique difficulty and the way innovation akin to property expertise (proptech) can clear up the issue.
Let’s begin with the context: actual property is an asset in hospitality but additionally a legal responsibility.
Resorts have an operations part on one aspect and actual property part on the opposite. The latter shouldn’t be the least vital concern for the resort’s chains. Up to now, resort teams owned and operated properties. The asset-heavy technique permits complete management over enterprise growth administration and is an assurance of reliability for third events. Nevertheless, it’s a capital guzzler and implies a considerable supply of debt.
So, what did resort chains do? They went for an asset-light technique. Marriott and IHG had been the pioneers on this regard. They had been adopted by different huge chains akin to Hilton and, extra just lately, Accor and Hyatt. To present an concept, practically 99 p.c of Marriott’s complete rooms had been managed underneath a administration contract or franchise settlement as of 2020 (Search engine optimization, 2021). The important thing motive for this shift from asset-heavy to asset-light: the pliability. Additional cash flows turn into accessible due to franchising and administration contracts. It ends in new funding alternatives like buyer loyalty packages, expertise and quicker model growth throughout the globe. (Kwok, 2017)
Flexibility – however at what value?
The principal-agent downside: asset-light lodges are giving up management. Lack of consistency can seem throughout the chains concerning requirements and protocols. The house owners don’t all the time assist venture growth concepts and improvements. With 100% possession, these issues wouldn’t be on the desk. However, how can lodges obtain complete possession and management with out going again to the asset-leverage legal responsibility?
The answer: A shared proptech app.
The reply could lie in a property expertise platform based mostly on the shared economic system system just like the Bricks firm in France or BrickX in Australia. The precept of those corporations is to supply easy financing for house owners and easy accessibility to funding in actual property for the final inhabitants, due to a mobile-friendly web site.
As an example somebody desires to purchase a property: 50 p.c might be financed by a financial institution mortgage, and the opposite 50 p.c is split into 1000’s of bricks. Every particular person should buy a brick on-line for as little as $10 USD; there isn’t any possession, however they’re entitled to common royalties based mostly on the renting of the house and might count on an ROI of 10-12 p.c. (Forbes France, 2021)
Think about if this device was utilized to the hospitality sector!
Within the method of Airbnb generalizing peer-to-peer house rental and Uber generalizing rideshare, a shared proptech app could make the resort actual property funding accessible to all. Thanks for an important UX UI design and based mostly on the sharing economic system development, lodges can regain possession with out its drawbacks.
What are some great benefits of such a device?
On the patron aspect:
- Common royalty is earned, or night time gratuity is given within the corresponding resort based mostly on the resort worth appreciation.
- Low danger associated to low funding.
- Simple and new saving alternative device for the patron.
- Involvement of the group within the lifetime of the hospitality asset.
On the resort aspect:
- The brick crowdfunding system results in a decrease debt protection ratio through banks.
- Regain flexibility due to faster liquidity entry.
- Management and possession, resolving the principal-agent downside.
- New loyalty device: consumer loyalty and retention are a classy problem for hoteliers. Suppose somebody can simply spend money on a resort property simply by clicking on an app. It sounds engaging, no?
So, can proptech resolve the principle challenges of the twenty first century for resort teams?
It’s digital, social and inclusive, and aggressive. Higher regulate this modern expertise sooner or later!
This weblog put up tied for Second Place within the Spring 2022 HFTP/MS International Hospitality Enterprise Graduate Scholar Weblog Competitors introduced by the HFTP Basis. Contributors are college students collaborating within the Grasp of Science in International Hospitality Enterprise, a partnership between the Conrad N. Hilton School of International Hospitality Management on the College of Houston, the Faculty of Lodge and Tourism Administration at Hong Kong Polytechnic College and EHL. The weblog posts that obtained the highest scores will likely be revealed on HFTP Join via July 2022. Study extra at HFTP Information.
Victoria Loing is a graduate scholar pursuing the Grasp of Science in International Hospitality Enterprise program, which is in partnership of three colleges: EHL, the Hong Kong Polytechnic College, and College of Houston.
How the Hospitality Business Can Battle “The Nice Resignation”
Written by: Sheheryar Javaid
This text is not going to contact on the influence “The Nice Resignation” has had on the hospitality {industry}, as we’re properly conscious — the main target will as a substitute be on what actions we will take to battle it. Cash shouldn’t be the reply. Many lodge homeowners and operators do not need a lot cash left after the pandemic, anyway. Fortunately, there are a lot of elements that workers are searching for in addition to elevated pay (though it could be good!).
The aim of this text is to focus on a few of these elements and supply a roadmap on how options could be carried out to draw and retain workers. However earlier than we dive into them, there may be one essential factor that resorts want to begin doing extra: really discuss to the workers and hear to know how they really feel and what they want. Employers ought to repeatedly search worker suggestions on what makes their life tough and what options they’ve to enhance it. A constructive suggestions loop will make sure that the setting is simply bettering sooner or later.
Some workers will really feel extra comfy to share anonymously by way of surveys. However most significantly, administration must create an open communication coverage to enhance belief. Many workers don’t really feel comfy sharing what’s on their thoughts with their managers, however this wall must be damaged, through the use of a number of the concepts talked about under.
Get Possession Purchase-in
Accommodations have turn out to be profit-generating investments for all types of possession teams, whether or not it’s a person or a financial institution. So it’s on administration to convey the true monetary influence of re-training new workers and the price of having a burned-out crew. This could generate potential added worth, akin to higher visitor critiques resulting in an elevated ADR.
The administration crew should develop a persuasive proposal with a direct ask and concisely state the issues and options, with their related prices and advantages.
Subsequent, listed here are some examples of what resorts can do to turn out to be a greater place to work.
Make investments Time and Vitality into Tradition
- Consider the Organizational Construction: “Do we now have managers that care about our workers?” This is likely one of the most important the explanation why workers go away their jobs, so it should be evaluated. For instance, acquire suggestions by way of an nameless worker satisfaction survey the place the outcomes are clear to greater degree administration and possession.
- Profession Improvement and Recognition Packages: Anybody can Google a listing of concepts right here, however the perfect factor can be to ask workers what they want and sincerely give particular recognition.
- Making a Enjoyable and Collaborative Tradition: Encourage creativity by way of month-to-month crew constructing occasions like paint nights with wine. Incorporate wellness by way of common yoga/meditation courses. Reward sharing, contests, a birthday wheel — these are additionally good methods to combine and encourage completely different generations. How a lot would these actually price?
- Connectivity: We will be taught from the startup world, who’re consciously making an attempt to create nice work environments. It may be easy issues akin to connecting their workers by way of platforms like Slack. Many resorts have their in-house communication programs, however this may be an choice for particular person departments or unbiased resorts.
- Better Functions: Introduce initiatives to handle sustainability, akin to calculating the carbon footprint from procurement and setting benchmarks, or discover methods to assist the area people.
Conclusion
Despite the fact that the hospitality {industry} has been hit the toughest, we have to pave the way in which for the restoration. This may be seen as a chance to scale back conditions the place individuals are pressured to work till they burn out, and as a substitute, create alternatives for the precise folks to thrive in roles which might be suited to them. McKinsey calls this “The Nice Attraction”. Take a step again. Pay attention. Study. Perceive. Make the modifications that workers need. And measurement the chance. This could result in an industry-wide innovation of worker tradition.
There isn’t a purpose in charge the pandemic or the overworked workers for leaving. If resorts see the chance to make their property an important place to work, they may have the ability to entice the many individuals that also love the {industry}. Some have jumped to monetary companies and retail, however there’s something particular a couple of hospitality setting that you just can’t discover anyplace else. Creating this tradition is what we must always concentrate on.
Everybody has a task to play within the restoration. House owners have to speculate and perceive the state of affairs. Administration wants to higher hearken to their workers and assist them. And workers have to voice their considerations and use their concepts to co-create the precise tradition. We’d like this now greater than ever.
This weblog put up obtained Third Place within the Spring 2022 HFTP/MS International Hospitality Enterprise Graduate Pupil Weblog Competitors introduced by the HFTP Basis. Individuals are college students taking part within the Grasp of Science in International Hospitality Enterprise, a partnership between the Conrad N. Hilton Faculty of International Hospitality Management on the College of Houston, the College of Resort and Tourism Administration at Hong Kong Polytechnic College and EHL. The weblog posts that obtained the highest scores will probably be printed on HFTP Join by way of August 2022. Study extra at HFTP Information.
Sheheryar Javaid is a accomplice on the Hyatt Place Toronto/Mississauga Heart in Ontario, Canada and up to date graduate of the Grasp of Science in International Hospitality Enterprise program, which is in partnership of three faculties: EHL, the Hong Kong Polytechnic College, and College of Houston.
References
The Power of Allyship: Building Bridges of Support and Inclusion
Pride Month is not just a time for the LGBTQ+ community to celebrate their identities, but also an opportunity for allies to educate themselves and advocate for equality. Allyship is a crucial pillar of support, and it plays a significant role in creating a more inclusive society for all. Let us delve into the importance of allyship, emphasizing the transformative power of education in fostering understanding, empathy, and acceptance.
Expanding Perspectives: The Role of Education
Education is the cornerstone of allyship. By seeking knowledge about the LGBTQ+ community, its history, struggles, and accomplishments, allies can develop a deeper understanding of the challenges faced by individuals with diverse sexual orientations and gender identities. Education serves as a catalyst for breaking down stereotypes, dismantling prejudices, and fostering a culture of acceptance.
Challenging Assumptions and Bias
Allyship involves critically examining our own assumptions and biases. It requires recognizing and challenging the societal norms that perpetuate discrimination and marginalization. Through education, allies can confront their own biases and prejudices, allowing for personal growth and transformation. This self-reflection is essential in creating a more empathetic and inclusive environment.
Creating Safe Spaces for Learning
As allies, we have a responsibility to create safe spaces for learning and dialogue. By fostering an environment where questions can be asked, experiences can be shared, and concerns can be addressed, allies can facilitate meaningful conversations. These spaces allow for the exploration of diverse perspectives, leading to increased understanding and empathy.
Using Privilege to Amplify Voices
Allies have the privilege of being heard and respected in various spheres of influence. This privilege can be utilized to amplify the voices of the LGBTQ+ community. By actively sharing stories, experiences, and achievements, allies can help combat erasure and promote greater visibility. This act of amplification contributes to a more accurate and nuanced understanding of the LGBTQ+ community.
Advocacy for Equality
Education empowers allies to become advocates for equality. Armed with knowledge, allies can challenge discriminatory practices, policies, and beliefs. They can engage in meaningful conversations with others, challenging misconceptions and promoting empathy. Allies can use their voices to advocate for equal rights and protections, both on an individual level and within broader societal structures.
Celebrating Diversity
Allyship involves not only acknowledging and accepting differences but celebrating them as well. Education allows allies to appreciate the diversity within the LGBTQ+ community, recognizing the intersections of race, ethnicity, religion, abilities, and more. By embracing this diversity, allies contribute to the creation of a more vibrant and inclusive society.
Pride Month serves as a reminder of the ongoing struggles and achievements of the LGBTQ+ community. As allies, it is our responsibility to educate ourselves, challenge biases, and actively advocate for equality. Through education, we can foster understanding, empathy and acceptance.
Let us use this Pride Month as an opportunity to reflect, learn, and commit ourselves to becoming better allies. Together, we can create a society where all individuals are valued, respected and celebrated for who they are.
RateGain Results for FY23 out; PAT Grows 8X YoY
Noida, May 19, 2023: RateGain Travel Technologies Limited (NSE: RATEGAIN), a global provider of AI-powered SaaS solutions for the hospitality and travel industry, today announced its financial results for Q4 & FY23 ending on March 31, 2023, reporting record revenues and profitability with robust growth and operational efficiency contributing to higher margins.
In an environment where most technology companies are dealing with both growth and cost pressures, RateGain continues to show robust revenue growth at 54.2% YoY to INR 5,651.3 Mn and substantial improvement in operating margins to 15.0% for FY2023, up from 8.3% in the prior year; on the back of operating leverage playing out and driving cost efficiencies across different businesses.
As the travel industry gets ready to move away from legacy technology and tap into the AI revolution powered by cloud, RateGain, one of the pioneers of AI and cloud technologies in travel and hospitality is emerging as a trusted partner for leading hotel chains and travel brands to leverage AI to transform their existing revenue management, distribution ecosystem as well as drive better outcomes from their marketing efforts.
With the advent of new LLM models and the increasing demand for hyper-personalization, travel and hospitality brands would need more data than ever before to deliver a seamless experience while controlling costs and improving ROI on their marketing and distribution efforts.
RateGain is well-positioned to capture this opportunity with over 370 billion data points consisting of travel intent, searches, and rate updates across 700+ partners including leading hotel chains, OTAs, airlines, and car rentals. The variety, volume, and scale of data processing as well as its reliable technology with up to 99.9% uptime makes RateGain ready to help the travel and hospitality industry leverage AI with accurate insights and unlock new revenue through seamless guest acquisition, retention, and wallet share expansion.
The company’s ability to innovate and consistently drive outcomes at scale for customers has helped in recording new contract wins of INR 1,308.0 Mn in FY2023 and has a healthy pipeline of INR 3,810.2 Mn as it goes into the new year.
For Q4FY23, the quarter ending March 31, 2023, compared to the same quarter last year the company reported:
- Operating Revenue at INR 1,829.3 Mn v/s INR 1,078.8 Mn (+ 69.6% YoY)
- EBITDA at INR 322.1 Mn v/s INR 153.6 Mn (+109.7% YoY)
- PAT at INR 337.9 Mn v/s INR 116.1 Mn (+ 191.0 YoY)
- EBITDA margin at 17.6% v/s 14.2/li>
- PAT margin at 18.5% v/s 10.8%
For FY23 compared to the same period last year, the company reported:
- Operating Revenue at INR 5,651.3 Mn v/s INR 3,665.9 Mn (+ 54.2% YoY)
- EBIDTA at INR 845.6 Mn v/s INR 305.6 Mn (+177.0% YoY)
- PAT at INR 684.0 Mn v/s PAT of INR 84.2 Mn (8.1x YoY)
- EBIDTA margin at 15.0% v/s 8.3%
- PAT margin at 12.1% v/s 2.3%
The company continues to have strong customer relationships that are helping in building predictive, stable and sustainable revenue streams. The Annual Recurring Revenue stands at an all-time high of INR 7,745.1 Mn and the LTV to CAC for FY23 came in at 21.3x which is 7x higher than the benchmark for SaaS companies.
Sharing his views on what helped in driving the performance this quarter, Bhanu Chopra, Founder and Chairman, RateGain Travel Technologies, said, “As we complete our first full year of listing, I would like to commend and congratulate the entire RateGain family on a record year. We continue to use AI capabilities to advance our mission of building an integrated tech stack that allows our customers to acquire guests, engage & retain them and have a wallet share expansion. The travel industry continues to witness strong demand across key geographies, we are well positioned to capture and partner with our clients to deliver innovative solutions to optimize their revenue strategy. With continued momentum across all business lines along and our continued investments into RG Labs specially in areas of AI and now Generative AI — we continue to lead digitization of the industry”
Commenting on the key metrics, Tanmaya Das, Chief Financial Officer, RateGain Travel Technologies, said, It has been a standout year for the company in terms of performance across all key areas contributing to record revenue with commendable margin improvement. This is a validation of the underlying business fundamentals and the value we continue to drive for our customers. We witnessed balanced growth across our three verticals with an improvement across all key metrics contributing to a stellar year, which is a true reflection of the efforts of the entire team. Adara integration continues on track, and we are pleased with this new addition to the RateGain ecosystem. With a strong pipeline across verticals, we are well positioned to deliver value to our customers and stakeholders.”
The company continues to add to its headcount and saw a 17.7% increase YoY with a total headcount of 713. With the expansion of the headcount, the company has also been able to reduce its attrition rate which currently stands at 21.1% by leveraging unique upskilling and learning programs to create new opportunities for existing employees.
RateGain also ended the year on a high by increasing its award tally to 13 for the year, being recognized across its people, products, and marketing practices. RateGain was recognized by SaaSBOMi, the leading community of SaaS founders in India as the SaaS Startup of the Year, as well as received recognition by Entrepreneuer.com for its founder, Bhanu Chopra as Founder of the Year.
About RateGain
RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with 2800+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.
RateGain today is one of the world’s largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business. Founded in 2004 and headquartered in India, today RateGain works with Top 23 of 30 Hotel Chains, Top 25 of 30 Online Travel Agents and all the top car rentals including 8 Global Fortune 500 companies in unlocking new revenue every day. For more information, please visit rategain.com.
Forward-Looking Statements
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential, and target dates for project-related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.
Contact Media
Ankit Chaturvedi
[email protected]
Global Head-Marketing
A Virtual Education Preview from Solution Providers
How does an industry that is required to offer a relaxed, discreet, unobtrusive, and unencumbered experience for guests and members, reconcile those goals with offering guests and members a secure environment? Every company is responsible for creating and maintaining a safe environment for its employees.
Understanding that there is potential for danger, hospitality properties need to counter it with preemptive response planning. It is imperative for organizations to implement appropriate security measures, collaborate with local authorities and train staff in proper prevention and reaction methods.
Employers can provide a safe and secure working environment by using a thorough security system including access control systems, CCTVs, keycards, and emergency notification devices, along with training the employees about security procedures, and constant improvement of a safety management system program.
HFTP recently hosted a webinar entitled “Safety Systems and Devices” that focused on some of these security measures and devices designed for the hospitality industry to keep people safe and properly protected. The panel for the webinar included representatives from companies who will be exhibiting their safety solutions in the exhibit hall at HITEC® Toronto 2023. Keep reading for advice from the solution providers who participated in the webinar.
HITEC Toronto will be held at the Metro Toronto Convention Centre, June 26-29. (Visit the HITEC website for a complete list of the 300+ hospitality technology companies that will be exhibiting at HITEC this year. Register to attend today.)
Did you miss the live “Safety Systems and Devices” webinar? Visit the HFTP 2023 Virtual Education Archive Library to watch the recorded session.
Exploring Smart Safety Solutions with:
- Fiona Moloney, CEO at HelloSOS (Visit HITEC Booth #2533)
- Lucie Deuel, CEO at SIGFLOW
- Sandy Murray Hanson, VP of Sales, Hospitality at ROAR (Visit HITEC Booth #1905a)
- David Branca, NE Regional Sales Manager at PinPoint (Visit HITEC Booth #1150a)
Statistics show that by the year 2025, it is estimated that there will be more than 75 billion IoT connected devices in use. We are in the midst of a digital transformation right now, and IoT is leading the way with solutions such as panic buttons, asset tracking, energy usage monitoring, and more. IoT sensors are solving unique and complex monitoring challenges by combining an intelligent network of sensors and gateways with industry-leading monitoring applications, real-time reporting, and instant SMS text message alerts. It is now possible to connect your sensor data to any platform, deploy plug and play solutions, and manage all sensor activity through a single pane of glass.
These IoT devices include wearable panic buttons that are designed to protect hotel workers who may find themselves alone in vulnerable or dangerous situations and can send emergency, location-tracking alerts with the push of a button. According to PinPoint, “hospitality is in the top five most dangerous industries to work in,” with significant percentages of hotel workers indicating: sexual harassment (58 percent), indecent exposure (49 percent), and verbal abuse or violence (10 percent) from guests or customers.
Smart wearables like panic button devices should allow communication between teams, emergency alerts, crisis communication, smart messaging and scalability. When considering this technology, look for a solution that is:
- Developed for the people who are using it.
- Designed with integrity by people who care and is simple to use, private and secure.
- A truly mobile and smart safety solution that cannot be knocked off or removed easily, is discreet to guests, and easy and comfortable to use.
- Multifunctional (able to do more than one thing).
Other important considerations should be made, as well:
- The product should work within the confines of your current business operations.
- Consider the power source. Can it be unplugged, what is the battery life, and is the hardware discrete to guests?
- Confirm the solution’s accuracy and speed, both indoors and outdoors, during active threats (this is paramount!).
- Determine the level of redundancy provided.
- Does it offer teamwide communication, room messaging, improving operations and scalability?
- Is it Union-tested, does it pass these tests, and does it comply with brand standards?
- Are references provided?
Finally, there are a few things you can do for your end throughout the selection and implementation of a new solution:
- Have your priorities and a plan in place, rather than expecting a solution provider to come up with these for you.
- Perform regular updates and equipment checks, much like changing the oil in your car.
- Make sure your staff understands the system, how and when to use it – as well as the culture behind your protocols. Your staff should have confidence in the system. It will only work as well as your staff understands the protocols and procedures behind it.
For more valuable information, watch the webinar recording or feel free to reach out to any of the companies who contributed their knowledge of these security technologies.
RateGain appointed Yogeesh Chandra as Chief Strategy Officer
New Delhi, April 28, 2023:RateGain Travel Technologies Limited, a global provider of SaaS solutions for travel and hospitality, today announced the appointment of Yogeesh Chandra as its Chief Strategy Officer. Yogeesh has worked at RateGain for over 12 years, playing multiple roles in setting up high-performance teams, go-to-market strategy, customer success, and product management with P&L ownership.
As a seasoned strategist with a proven track record of delivering results, Yogeesh has a deep understanding of the travel and hospitality industry, having worked across commercial teams of leading hotel brands.
In his new role, Yogeesh will oversee RateGain’s strategic planning, business development, and corporate strategy initiatives. He will work closely with the executive team to identify and pursue new opportunities, optimize existing business lines, and shape the future direction of the company.
Bhanu Chopra, Founder and Managing Director of RateGain, said “Yogeesh has played an exceptional role in scaling RateGain over the last decade, and his exceptional leadership, strategic arguments, and industry expertise make him the perfect fit for this role. We are confident that he will play a pivotal role in shaping our company’s strategic direction and driving growth to new heights.”
Yogeesh Chandra expressed gratitude to RateGain for the opportunity and said, “I want to thank the management team and the board members for trusting me with this responsibility. Technology and hospitality are both at an inflection point, creating new strategic opportunities for RateGain to grow, and I am excited about the future ahead. I look forward to collaborating with the team and making a meaningful impact on RateGain’s growth trajectory.”
About RateGain
RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with 2800+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.
RateGain today is one of the world’s largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business. Founded in 2004 and headquartered in India, today RateGain works with Top 23 of 30 Hotel Chains, Top 25 of 30 Online Travel Agents, and all the top car rentals including 8 Global Fortune 500 companies in unlocking new revenue every day. For more information, please visit https://www.rategain.com.
Forward-Looking Statements
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential, and target dates for project-related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.
Contact Media
Ankit Chaturvedi
[email protected]
Global Head-Marketing