Third-Celebration Resort Administration Corporations Going through Greater Visitor Expectations as Room Charges Improve, JD Energy Finds
TROY, Mich. – With common every day room charges at accommodations in North America now averaging practically $150—roughly 15% greater than pre-pandemic ranges,1—lodge company have turn into extra important than ever of the décor, facilities and meals and beverage choices offered by the world’s largest third-party lodge administration firms. Based on the JD Energy 2022 North America Third-Celebration Resort Administration Visitor Satisfaction Benchmark,SM launched at this time, buyer satisfaction declines 4 factors (on a 1,000-point scale) this yr, as greater costs drive elevated scrutiny.
“It’s no secret that lots of the main hospitality firms have delay upgrades and deferred upkeep whereas they have been in survival mode throughout the pandemic,” mentioned Andrea Stokes, hospitality follow lead at JD Energy. “Now, nevertheless, as demand has climbed above pre-pandemic ranges and customers are paying document charges for lodge rooms, expectations are rising quickly. Now’s the time for lodge operators to put money into the upkeep and renovations that enhance high quality within the eyes of company.”
Following are further key findings of the 2022 research:
- Total satisfaction declines as bar will get greater: On common, total visitor satisfaction among the many largest third-party administration firms is 837 this yr, which is down 4 factors from a yr in the past. The decline is pushed by decrease satisfaction with room price and charges; décor/furnishings of visitor rooms; and number of meals and beverage.
- Busy entrance desk employees carrying heavy load: Visitor satisfaction with entrance desk employees will increase barely this yr, with these personnel incomes excessive marks for pace of check-in, courtesy and information. Nevertheless, previous to reaching the entrance desk, fewer than half of lodge company (48%) point out being greeted by employees, which is down 10 share factors from 2021.
- Bringing true hospitality again: Past investments in upkeep, fixtures and furnishing updates, service coaching for workers is an space during which third-party administration firms can have a right away optimistic impact on the visitor expertise. When company say lodge employees makes them really feel like a valued visitor, total satisfaction scores are 139 factors greater. When employees reveals concern for visitor wants or heat, honest therapy, satisfaction scores rise 135 factors.
Rating Benchmarks
Davidson Hospitality Group ranks highest in total buyer satisfaction, with a rating of 875. Hospitality Atrium (870) ranks second and Crestline Resorts & Resorts (856)
ranks third.
The North America Third-Celebration Resort Administration Visitor Satisfaction Benchmark, now in its third yr, evaluates visitor satisfaction with branded accommodations which can be operated by the most important third-party administration firms. It’s primarily based on six components (in alphabetical order): arrival/departure; charges and charges; meals and beverage; visitor rooms; lodge services; and providers and facilities. The benchmark consists of third-party lodge operators with greater than 14,000 rooms below administration and is predicated on 3,804 visitor responses for branded lodge stays from Could 2021 by means of Could 2022.
For extra details about the JD Energy North America Third-Celebration Resort Administration Visitor Satisfaction Benchmark, go to https://www.jdpower.com/enterprise/travel-and-hospitality/third-party-hotel-management-guest-satisfaction-benchmark .
1STR Market Restoration Monitor, June 2022.
About JD Energy
JD Energy is a world chief in client insights, advisory providers and knowledge and analytics. A pioneer in the usage of massive knowledge, synthetic intelligence (AI) and algorithmic modeling capabilities to know client habits, JD Energy has been delivering incisive business intelligence on buyer interactions with manufacturers and merchandise for greater than 50 years. The world’s main companies throughout main industries depend on JD Energy to information their customer-facing methods.
JD Energy has places of work in North America, Europe and Asia Pacific. To be taught extra concerning the firm’s enterprise choices, go to JDPower.com/enterprise. The JD Energy auto purchasing software may be discovered at JDPower.com.
Geno Effler
+1 714 621 6224
JD Energy
Bridging Silos in Industrial Groups Publish Pandemic
The 2020 pandemic has affected the world in a couple of method, particularly by way of communication inside a enterprise setting. The world noticed an entire halt in efficient collaborations, and other people had been extra disconnected than ever. Groups that typically labored comparatively harmoniously in particular person had been left on the mercy of zoom and emails.
The truth is, between 2019 and 2020, Professor Tiona W. Zuzul on the Harvard Enterprise College, together with 11 different researchers, studied over 360 billion emails throughout 1.3 billion accounts of 4361 organizations. They found a major enhance in enterprise silos within the yr 2020.
Finally, individuals discovered their method out of the rut to some extent. Nonetheless, bottlenecks persist as increasingly corporations shut down their bodily places of work and go totally distant. In any case, as technologically dependent as we’re, some issues are finest finished in particular person.
Nonetheless, there are methods to bridge the hole – particularly within the lodge trade. Let’s dive in to know how silos can have an effect on us and the way we are able to overcome the challenges connected to them.
Understanding silos previously
Discussing the previous is lower than efficient in an period that’s rightly termed the digital revolution. In any case, the sooner lodge chains hardly ever utilized any expertise. Nonetheless, it’s essential to watch the variations, particularly the significance of the totally different stakeholders and the way it has developed. The truth is, Silos existed previously, too, even with no international pandemic to set off their offshoot.
Most notably, the income supervisor position has seen a quite meek existence previously. The earliest lodge chain methods had no idea of a income supervisor. Historically, knowledge assortment and processing took lengthy hours and induced many points for the workforce.
Later, even when the income supervisor position was launched, the everlasting thought was {that a} income supervisor is an individual who sits within the basement, away from the remainder of the workforce members. They’d little to do with day-to-day operations. Furthermore, they solely reported to higher-ups, such because the gross sales director.
These concepts don’t exist anymore. Income managers are on the heart of a whole lot of the business points of the enterprise. Learn alongside to know extra concerning the evolution of the income supervisor’s position.
Position of the income supervisor
As mentioned above, silos have existed for a very long time, albeit in smaller numbers and at a extra manageable stage. With the pandemic coming into impact, these silos have elevated in quantity, and issues similar to knowledge transparency have taken a backseat.
At this juncture, income managers can step in and take over the discussions surrounding the commerciality of a company.
As we speak, each stakeholder is on a extra equal footing. Therefore income managers do not simply report back to the higher-ups anymore. Furthermore, they’ve turn into the driving power behind any group – whether or not they function from a income administration heart or the lodge website.
Income managers are accountable for figuring out alternatives that support the accommodations in receiving the best enterprise. Additionally they have interaction with the gross sales and advertising and marketing groups to undertake holistic approaches by way of the business facet of the corporate.
Industrial methods to bridge silos
Regardless of the existence of silos beforehand, the pandemic has pressured organizations to essentially consider the place their organizational framework stands at the moment. House owners and majority stakeholders have requested the implementation of issues similar to:
- Consolidation
- Value-cutting throughout departments
- A shift from specializing in income to commercialism
1. Utilizing communication instruments that encourage collaboration
As we speak, newer collaboration software program molded particularly for companies is discovering its method into the mainstream faster than ever. Thus, corporations can contemplate investing in one in all these communication instruments.
Utilizing messaging platforms like Slack or Groups can even provide an area for workers to speak with these not of their instant neighborhood. Inside social media networks like Yammer, Office, or Google Workspace might help foster a sense of group.
Some software program is particularly helpful for facilitating cross-functional collaboration by permitting employees to entry knowledge from outdoors their division. Subsequently, whether or not personnel from varied departments might work collectively on a brand new venture is value contemplating. This supplies for a level of openness that has the potential to tear down partitions and bridge silos.
Furthermore, utilizing a software particularly original to serve the lodge trade, similar to RateGain, will be particularly useful in fixing the issue of monitoring KPIs that time in the direction of:
- Buyer acquisition and retention
- Income maximization
- Integration
2. Encouraging collaboration coaching
There are quite a few enterprise coaching choices, together with those who encourage staff to study new communication strategies. This promotes higher workforce collaboration.
Coaching consultants are sometimes all for deciphering why teams talk with each other within the method that they do. They query staff’ assumptions about others in addition to their views concerning the firm’s tradition.
Some organizations will try and “reprogram” staff’ interpersonal talents. They’ll help them in being extra tolerant of their colleagues.
This encourages of us with a silo mindset to consider the emotions of others who will not be of their silo. Whereas expensive, if the siloing is extreme, it might be the most suitable choice for growing general empathy and eradicating divides.
3. Connecting individuals by way of a standard aim
One of many points with communication silos is the existence of competing pursuits. Workers are break up into totally different teams once they wouldn’t in any other case be. And there’s no situation with it. Nonetheless, striving for an overarching function that promotes the corporate’s better pursuits is essential.
The most effective technique to advertise cohesiveness amongst staff is to attach them to an organization aim. Workers must be inspired to speak on one thing that characterizes the corporate as a complete.
Another choice is for the advertising and marketing division to draft an inside manifesto. This fosters a shared understanding of what the group represents and what it aspires to realize. It could assist maintain employees engaged and assist them visualize their contributions to the group.
The highway forward
The inevitability of enterprise evolution is clear in the way in which enterprise silos have reworked from the times earlier than a income supervisor. Siloing was among the many foreseeable modifications that the lodge trade would witness. With the daybreak of the pandemic, the method has solely accelerated.
However at the moment, we personal the assets to fill this divide and create a stronger office. The income supervisor is the brand new business supervisor who leads the discussions on how accommodations can maximize earnings. And never simply by way of rooms and F&B, but additionally by way of value of acquisition.
They’ve gone from segments to specializing in section channels to drive and maximize the alternatives deciphered because of income managers. The opposite groups use these insights to develop targets that may assist one central aim – driving earnings for the group.
Not solely that, enterprise communication instruments, collaboration coaching employees, and even making a manifesto might help take away firmer silos. This could encourage an setting of camaraderie and togetherness. Nonetheless, the one foolproof option to discover the correct footing in such a state of affairs is by adopting a software similar to RateGain – a software program specialised for bridging gaps within the lodge trade.
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 place to stay; they invite guests to join their important mission and make a difference. The journey towards sustainable hotels envisions a future where making a profit aligns perfectly with the crucial responsibility of protecting our planet.
The prevalence of sustainable hotels is set to soar. Behold the remarkable journey where sustainability ascends. Not only preserving our planet but also igniting revenue growth and propelling guest experiences to unprecedented heights.
Sustainable Hotels: Redefining Hospitality with a Green Touch
As the world awakens to the urgent need for environmental care, sustainable hotels are seizing the moment. With an astonishing 50% of travelers expressing worry about climate change, as reported by Euromonitor International, a profound shift in consumer consciousness is unfolding.
This is an exciting moment for hotels to meet the growing demand for eco-friendly travel experiences. A new era of hospitality is emerging, where sustainability and luxury come together seamlessly, creating a lasting impact on the planet and satisfying the discerning traveler.
Profitability and Responsibility: Achieving the Delicate Equilibrium
Navigating the fine line between profitability and responsibility poses an alarming challenge for sustainable hotels. Nevertheless, industry experts assert that these two facets can coexist harmoniously.
Renowned sustainability consultant Dr. Jane Greenfield emphasizes that sustainable hotels have the power to create unparalleled guest experiences while maintaining profitability.
By aligning their endeavors with the United Nations’ sustainability goals, hotels can focus on economic growth, employment opportunities, cultural diversity, and fostering mutual understanding.
Industry Insights: Thriving on Sustainability’s Cutting Edge
In the fiercely competitive hotel sector, sustainable practices hold the key to gaining a distinct advantage.
According to industry analyst John Smith, hotels that prioritize sustainability not only cater to the demands of environmentally conscious travelers but also carve a niche in the crowded market. Smith emphasizes integrating sustainability into a hotel’s brand identity and effectively communicating these efforts to guests. By doing so, hotels can tap into an expanding customer base that shares shared values and responsible choices.
Unlocking the Financial Benefits of Sustainability
Contrary to the belief that sustainable practices hinder profitability, hotels can actually reap substantial financial rewards. While initial investments may be required, the long-term gains far outweigh the costs. Initiatives such as energy and water conservation, waste reduction, and efficient resource management can yield significant cost savings over time.
Furthermore, sustainable hotels can attract environmentally conscious guests willing to pay a premium for eco-friendly accommodations, providing an additional boost to profitability.
Case Studies: Green Hotels Leading the Sustainable Revolution
A wave of global hotel brands has embraced sustainability and is now reaping the benefits. Take Marriott, for example, which has set ambitious targets to reduce water and energy usage, resulting in remarkable achievements.
Through simple yet effective strategies such as water pressure reduction, guest item reuse promotion, and leak-detecting water systems, hotels of all sizes can immediately enhance their environmental impact and contribute to a sustainable future.
Popular Sustainable Hotels & Their Sustainability Programs
- Marina Bay Sands: Energy Management System
- Marriott International: LEED Dynamic Plaque
- Alila Hotels & Resorts: EcoSmart Sustainability Metrics Tracking
- AccorHotels: Green Key Program
- Henn-na Hotel: AI Robots to Control Energy Usage
- Four Seasons Hotel: AI-Powered Waste Management
- The 1 Hotel Brooklyn Bridge: Smart Energy Management
- Citizen Hotel: Smart Irrigation System
- Hilton Hotels: LightStay Program
- Radisson Blu Hotel: AI-Powered Energy Management
Read More: Technology as a Driver for Sustainable Travel
The Path Forward for Sustainable Hotels: Collaboration and Recognition as Catalysts
Sustainable practices require constant evaluation and refinement to ensure long-term success. Engaging the hotel staff is paramount, as they serve as passionate ambassadors, educating guests and making a difference through small actions.
Guest surveys are pivotal in understanding perceptions and expectations, enabling hotels to tailor sustainability initiatives accordingly. Furthermore, registering with eco-travel platforms and participating in industry awards not only boosts bookings but also offers opportunities to showcase sustainable actions, inspiring others to follow suit.
In hospitality, sustainable hotels embody a lucrative and conscientious path. By skillfully navigating the terrain of profitability and responsibility, hotels can draw in environmentally conscious travelers, elevate guest experiences, and play a pivotal role in fostering a healthier planet. This transformative journey requires collaboration, ongoing refinement, and adept communication.
As the industry progresses, more hotels need to recognize the symbiotic relationship between profitability and sustainability, forging a harmonious scenario where everyone emerges as a winner.
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.
Why is Security Critical for a Booking Engine?
In today’s digital age, cybersecurity is a major concern for any online business. Hotels and other hospitality businesses are no exception. The hospitality industry has seen a surge in online bookings in recent years, and with the increase in bookings, the risk of security breaches has also increased. This is why it is crucial to ensure that your booking engine is secure and that your guests’ data is protected.
So, why is security critical for your booking engine? Let’s take a closer look.
Protecting Your Guests’ Data
The most critical aspect of any booking engine is the protection of your guests’ data. A secure booking engine will protect your guests’ personal and financial information from being accessed by unauthorized individuals or hackers. This includes everything from their name and address to their credit card details.
With the rise of cybercrime, protecting your guests’ data has never been more important. Data breaches can result in significant financial losses and damage to your reputation. Not only can they lead to legal action, but they can also cause your guests to lose trust in your business.
Compliance with Industry Standards
The hospitality industry has strict data protection laws and regulations that must be followed. This includes the Payment Card Industry Data Security Standard (PCI DSS), which outlines the security standards that all businesses that accept credit card payments must adhere to. Failure to comply with these standards can result in significant fines and legal action.
A secure booking engine will be fully compliant with these standards, ensuring that your business is protected from legal action and financial penalties.
Preventing Fraudulent Bookings
Fraudulent bookings can be a significant problem for hotels and other hospitality businesses. They can result in lost revenue, damage to your reputation, and even chargebacks. A secure booking engine can help prevent fraudulent bookings by using various fraud detection tools and techniques.
These tools can help detect and prevent credit card fraud, chargebacks, and other fraudulent activities. This will not only protect your business from financial losses, but it will also help maintain the trust of your guests.
Maintaining Your Reputation
Finally, security is critical to maintaining your reputation. Guests expect their personal and financial information to be protected when booking online. A security breach can result in negative publicity and damage to your reputation. This can lead to a decrease in bookings and revenue, as guests may be reluctant to book with your business.
By ensuring that your booking engine is secure, you can maintain the trust of your guests and protect your reputation in the long term.
Conclusion
In conclusion, security is critical for any booking engine. It is essential to protect your guests’ data, comply with industry standards, prevent fraudulent bookings, and maintain your reputation. By choosing a secure booking engine and taking the necessary precautions, you can protect your business from the risks of cybercrime and maintain the trust of your guests.
A New Era of Training
Written by: Amanda Charreton
Imagine putting on a headset and suddenly finding yourself behind the front desk attending to a guest in need or behind the scenes in the kitchen setting up the perfect tray for room service delivery. Even though virtual reality (VR) first made its name in the gaming industry, this technology has become increasingly popular in different sectors such as medicine and the military. The ability for a user to fully immerse themselves in a lifelike computer-generated environment is now slowly making its way into the hospitality industry. So far, VR has been an indispensable marketing tool for hotels to better manage their guests’ experiences and expectations. With a headset, anyone can be transported to any part of the world and benefit from visual tours and visits to different locations and sites. But what about using this technology for more internal and resourceful purposes? Hilton, one of the world’s largest hospitality companies, has started utilizing VR as a tool to successfully train all of its employees, starting from entry-level all the way up to corporate and executives. After being awarded a number two ranking in World’s Best Workplace in Fortune magazine in 2020, one can’t help but wonder: is VR the source of such success? What are its possible implications in HR and training?
Since the pandemic, one of the biggest challenges faced by the hospitality industry is a labor shortage. Hotels worldwide have had difficulty filling vacant positions, and when they do, most possess little to no knowledge about the industry. Since most come from different fields and sectors, they lack the necessary skills to confidently perform in hospitality. VR calls for a new, experiential way of learning that exposes employees to real-life working scenarios, role-playing and decision-making simulations. They are exposed to the complexity and physicality of all the different aspects of hotel operations, whether it be conflict management with a guest, room service or even learning all the different steps that go into the perfect room cleaning and housekeeping procedures. Nonetheless, can this technology be used for more than just the physical aspect of onboarding? Can VR help employees develop the empathy and emotional intelligence required to operate successfully in the hospitality industry?
With VR, companies can better assess how users handle situations by observing their emotional state, tone of voice, facial expressions, language and vocabulary. As a result, trainers can better evaluate the employee’s performance potential by analyzing their perceptual cues and stimuli to computer-generated simulations. Some hospitality companies are even using this tool as a way to train their corporate and executive-level employees in different coaching, leadership and empathy training programs. By exposing them to the hotel’s day-to-day operations, top-level teams can better understand the complexity of the daily tasks, developing greater empathy and appreciation for lower-level teams. Therefore, companies can now offer greater hospitality services and promote employee development, engagement and satisfaction. From an employer perspective, this type of training allows for more realistic training than classical in-room or e-learning training and onboarding. Employers can benefit from training their workforce at a bigger scale and faster pace, all at a lower cost. As mentioned by the senior director of learning innovation at Hilton, Blaire Bhojwani, the hospitality company was able to reduce its in-class training time from four hours to 20 minutes. PwC, which also uses VR training, has noted training completed at a much faster rate as employees demonstrated greater commitment and engagement to their learning from both a cognitive and emotional point of view.
The use of VR training in the hospitality industry now helps companies bridge the gap between unskilled labor and employee performance. As a result, employees benefit from cross-skill training in housekeeping, F&B procedures and conflict management. And who knows what comes next? As VR continues to expand, we are just beginning to discover all its different opportunities within the industry for customers and human resources.
This blog post received Third Place in the Fall 2022 HFTP/MS Global Hospitality Business Graduate Student Blog Competition presented by the HFTP Foundation. Participants are students participating in the Master of Science in Global Hospitality Business, a partnership between the Conrad N. Hilton College of Global Hospitality Leadership at the University of Houston, the School of Hotel and Tourism Management at Hong Kong Polytechnic University and EHL. The blog posts that received the top scores will be published on HFTP Connect through March 2023. Learn more at HFTP News.
Amanda Charreton is is a student in the Master of Science in Global Hospitality Business, a partnership between three world-leading hospitality management schools over three continents: EHL (École Hôtelière de Lausanne), The Hong Kong Polytechnic University and Conrad N. Hilton College at University of Houston.
Resources:
Seabourn uses VR solution to train cruise waitstaff. Hospitality Technology. (2021, December 17). Retrieved October 25, 2022, from https://hospitalitytech.com/seabourn-uses-vr-solution-train-cruise-waitstaff
Minett, D. (2018, January 22). What virtual reality can teach us about the guest experience: By Dean Minett. Hospitality Net. Retrieved October 25, 2022, from https://www.hospitalitynet.org/opinion/4086237.html
Pougnet, S. (2020, Nov. 11). Virtual reality: An efficient tool for recruiting new talent: By Stephanie Pougnet, Phd. Hospitality Net. Retrieved October 25, 2022, from https://www.hospitalitynet.org/opinion/4101581.html
How Hilton uses Oculus for learning & development: Oculus for business. How Hilton Uses Oculus for Learning & Development | Oculus for Business. (n.d.). Retrieved October 25, 2022, from https://business.oculus.com/case-studies/hilton/
Virtual reality: The future of education? Hospitality News & Business Insights by EHL. (n.d.). Retrieved October 25, 2022, from https://hospitalityinsights.ehl.edu/virtual-reality-future-of-education?utm_source=Youtube&utm_medium=Social&utm_content=VR
Hospitality news. Heart of the House Hospitality. (n.d.). Retrieved October 25, 2022, from https://www.heartofthehouse.com/virtual-reality-training-hotels/
Virtual reality: The future of education? Hospitality News & Business Insights by EHL. (n.d.). Retrieved October 25, 2022, from https://hospitalityinsights.ehl.edu/virtual-reality-future-of-education?utm_source=Youtube&utm_medium=Social&utm_content=VR
Schrier, C. (2021, Sept. 9). Virtual reality training prepares hospitality workers for the next era of Travel. Strivr. Retrieved October 25, 2022, from https://www.strivr.com/blog/accenture-hospitality/#:~:text=Through%20case%20studies%20and%20client,companies%20can%20train%20their%20employees.
Inside Look from the Global Finance Committee
The brain trust of hotel industry experts who are tasked with future planning and development for theUniform System of Accounts for the Lodging Industry(USALI®) is back in full, collaborative force to produce the new USALI 12th Revised Edition. This group, the Global Finance Committee (GFC) sponsored by HFTP and AHLA, recently met in Washington, DC to discuss major financial and operating revisions and enhancements that will be made to the new edition.
In this blog post, Robert Mandelbaum, GFC member and director of research information services at CBRE Hotels Research, summarizes the many notable changes to date:
- The Utilities Schedule (11th edition) will become the newEnergy, Water, and Waste (EWW) Schedule. The subject of a recentHOTEL YEARBOOK articles by HFTP CEO Frank Wolfe, this new Schedule will address increasing expectations from guests, investors and companies for reliable ESG reporting standards, metrics and statistics (read the article to learn more).
- theEWW Schedule will include new required expense categories to capture energy, water, sewer expenditures, waste and contract services. It will also incorporate a recommended schedule for obtaining environmental and greenhouse gas emissions and statistics.
- The definitions for each of the rate categories used for the Rooms Revenue segment have been expanded; and an optionalChannel Mix schedule has been added.
- Enhanced guidance will help users determine if a retail operation selling food and beverages should be considered asFood & Beverage (F&B)revenue or asOther Operated Departmentrevenue.
- New guidance will enhance the tracking of costs associated with services and amenities offered to participants of aGuest Loyalty Program.
- Guidance will be added to theMiscellaneous Income, Non-operating Income, and Expenses,andBalancesheetsections to reflect the latest lease accounting rules and regulations changes.
- Additional expense categories in theSales and MarketingDepartmentwill reflect the many new digital methods used to promote hotels.
Ahead of the new edition, HFTP is introducing a brand-new digital format for the USALI, published via the cloud-based publishing platform Kitaboo. The new digital version of the current 11ththe USALI edition is expected to be available in Spring 2023, and the new 12thedition will be added to the platform once it is released. .
For questions, contact HFTP at [email protected] or +1 (512) 220-4020. Follow news and information on the USALI 12thRevised Edition, on the HFTP website.
How the Hotel and Travel Industry Can Monetize Non-Fungible Tokens
Written by: Dominika Duziak
Editor’s Note: This blog post will feature podcast episodes from the HospitalityVerse Podcast, a new series that discusses the latest trends in hospitality technology, including discussions on the Metaverse, blockchain, NFTS and more.
Remember NFT: one of the hottest buzzwords of 2021? Looks like last year’s hype died down — impacted by the “crypto winter” and the FTX meltdown.
Just to recap: non-fungible tokens (NFTs) represent unique digital assets recorded on a blockchain that certifies their authenticity and ownership. Typically, when we talk about NFTs, we think of digital art and collectibles. Christie’s, one of the most renowned auction houses, sold an NFT image for 69.3 million dollars in an online auction. Since then, the NFT market exploded. Projects like Bored Apes Yacht Club and CryptoPunks made millions in a very short time. Big names from sports to fashion such as the NFL, F1, Adidas, Nike, Prada, McDonald’s and Tiffany’s jumped on the NFT bandwagon. At the same time, it has also drawn a lot of criticism.
Some experts have compared the NFT market to an economic bubble or a Ponzi scheme — and in the second quarter of 2022, the market started collapsing, reacting to crypto market volatility and lack of confidence and trust.
So, does that mean the NFTs are over? Not at all. In fact, the value of the NFTs extends way beyond just a trendy or rare image. This value should be derived from the utility associated with the NFT. While most NFT projects in the hotel industry today focus on art and collectibles (see Marriott, InterContinental and Pullman), we can also see some market players experimenting with other creative use cases.
NFTs have been quickly adopted in the sports industry, and the concept of digitizing the access right or a membership card is currently being explored in travel, as well. Air Europa, for instance, announced their ticketing platform will support traditional and NFT reservation processes. NFT ticket holders will be granted more flexibility and allowed to trade their tickets up to 72 hours before departure. Air Baltic decided to link their “Planies” NFTs with their frequent flyer program as the first step of a bigger loyalty program transformation. Companies like Takyon or Pinktada develop online marketplaces with NFT-based tradeable bookings that allow hotel guests to enjoy lower prices on non-refundable rooms with the flexibility to sell the reservation in case plans change.
NFTs offer an opportunity to reimagine loyalty and rewards programs and boost brand engagement. In this scenario, NFT acts as a gateway to additional perks in both the virtual and physical worlds. SEM9 eSports hotel issued a collection of NFTs dedicated to gamers. Aside from a cool collectible, the token unlocked access to a free hotel night, limited merchandise, invitations to physical and digital events, and other benefits.
Based on my MBA research and interviews with hoteliers in Dubai, I have found that NFT-redesigned customer loyalty programs resonate well with hospitality managers. But there are other ways NFTs can support the business.
In the Hospitality and NFTs episode of the HospitalityVerse Podcast, we dig deeper into the uses of NFTs, exploring the concept of fractional ownership and cause-driven NFT projects that marry innovation with CSR.
These may seem to be very different, but ultimately both have a positive impact on the triple bottom line. “CSR NFTs” can attract millennials and Gen Z, who expect travel and hotel providers to be more sustainable and authentic. Projects like Unchained Elephants support regenerative and responsible tourism, give back to the community, educate and promote a sustainable brand image of participating entities.
While the digitization of a physical property may still be challenging and subject to unclear rules in many geographies (although there are already NFT platforms like Aqarchain in Middle East facilitating individual investments in hotel properties), memberships, loyalty and rewards or cause-driven projects are easier than you would think.
In this interview with Arek Kwoska, the CEO of NFT start-up Collectico Labs, we bust some myths about the complexity and high costs of NFT implementations. Arek says that in a few years NFTs will become as popular and common as emails — and I agree with this statement. With the evolution of blockchain and transition to Web3, we’ll see more real NFT applications driving value to all stakeholders of the hospitality and travel ecosystem.
Dominika Duziak is a host of the HospitalityVerse podcast. She combines product development and product management skills acquired in banking with a passion for new tech to uncover innovation opportunities. During her MBA program in International Hospitality Management at the Emirates Academy of Hospitality Management in Dubai, UAE, Duziak focused on business applications of Blockchain technology in the hotel industry. This research led to the creation of the HospitalityVerse, where hospitality professionals can learn about the latest trends and developments in hospitality technology effortlessly. Head over to https://hospitalityverse.io/ or listen on Spotify or Apple Podcasts. Follow HospitalityVerse on LinkedIn for daily updates from the hospitality tech world.