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.…
Resort Chelsea’s Elegant Foyer Bar Pays Homage to Resort Bars Across the World
The historic Resort Chelsea is quietly welcoming guests again via its doorways on West twenty third Avenue. After opening its Spanish-inspired restaurant El Quijote earlier this 12 months, the revamped New York lodge is introducing one other F&B idea for friends to find. Caviar with potato chips and beer cream. – Credit score: Eric Medsker Eric Medsker Extra from WWD “The Chelsea’s at all times felt to me like a grande dame,” says property co-owner Sean MacPherson. “And it felt like the suitable factor was to create the grande dame of foyer bars. And so we tried to honor the…
Sustainable Hotels Shaping Responsible Hospitality
Amidst a surge in environmental consciousness and corporate social responsibility, the hotel industry is embarking on a captivating journey toward sustainability. In 2017, the United Nations declared it the International Year of Sustainable Tourism for Development. As a result, hotels around the world are implementing responsible practices that are good for the environment, and also make money. These exceptional, sustainable hotels excel in energy efficiency, waste management, water conservation, and sourcing local materials. They skillfully combine these elements to create an enchanting and environmentally conscious experience for guests. What sets the Green Hotels apart? These hotels don’t just offer a…
Leveraging the Power of the Metaverse
Written by: Juliette Girardin Event risk management is critical to ensuring the safety and security of attendees, personnel and the venue. It takes time and effort to identify, assess and mitigate possible risks to an event’s success. Yet, because most events are constructed over a few days and only happen once a year, it is difficult to think of all the possibilities. With the rise of the metaverse, the work of risk managers may become more effective and secure. The metaverse is a multi-user virtual area in which people can engage with each other and with virtual items in a…
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…
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…
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…