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This article outlines some of the procedures that are used in the Hospitality Industry accounting departments. Beginning with document retention, GAAP is followed to comply with how long the documents need to be kept. In keeping documents, data security needs to be in place to protect sensitive information. Internal controls are also important and follow GAAP, so that stakeholders and owners are protected. The procedure is so that the proper allocation of assets are maintained. Revenue recognition is also part of accounting procedures, as revenues may be sorted in various ways as appropriate. Lastly, timeshare accounting being one of the most complicated, due to the different agreements. I found this article to be a good guide in knowing the basic procedures that are followed in hospitality accounting.

This article explains the importance of what a property management system should do. It is said that the PMS is the core of any hospitality company. The PMS gathers information about revenue, guests, staff, and any reporting necessary. Although the PMS is known to manage your company, it should also help with customer service and generate more revenue. I's important that todays PMS systems are available to all on their mobile devices, making it easier for guests. The PMS is also something that needs to be used for both front and back of the house functions, this includes house keeping and human resources. Lastly, this system should be compatible to all other forms of technology. I believe the PMS serves many functions to help ensure a company succeeds.

The article is about PMS acts as a centralized hub of vital information relating to revenue, guest engagement, staff efficiencies, and reporting.

Managing a successful hotel is not easy 一 Hoteliers are tasked with enhancing the guest experience, empowering their staff, and increasing their property's bottom line. It Should Be Mobile-First Modern travelers are going mobile, and mobility is «flattening» the hospitality marketplace. A mobile-first PMS can streamline various touchpoints in the guest journey, such as reducing long lines to the front desk. It Should Play Well With Others No technological platform is an island, and hotels cannot be run on a single siloed technological solution. It Should Optimize Revenue Traditionally, the role of the PMS was to help hoteliers manage their hotel's operational structure. However, today's PMS can do so much more than that.

Proximity marketing and geofencing can benefit hospitality businesses in streamlining and automating operations with reviews, the increase in sales revenue will assist with marketing room-service order. This system improve guest experiences such as room service, wait times.

This article talks about all of the positive benefits of proximity marketing system for the hospitality Industry. How the Industry can benefit from the tools that will bring increase in revenue and improvement of customer services and work. It explains also how geofencing and beacon system will offer benefits to certain business in the industry.

This article discusses proximity marketing within the hospitality industry. Proximity marketing is a growing useful tool. Hotels are among those utilizing proximity marketing. As noted in the article and highlighted in yellow, proximity marketing allows the hotel to reach there guest after they check in. Following check in your phone can be used as increased access to the hotel. Proximity marketing is an enhancement which leads to increased innovation. Per the article proximity marketing is one of the most effective advertising tools to become available for hotels. Through proximity marketing messages are transferred to the guest cell phone. The cell phone access has the ability to lead to increased revenue. The hotel and guest can interact in new ways. This form of marketing caters to guest engagement, provides a new method of communication and allows for guests to receive information. Proximity Marketing is an innovative tool that I believe will continue and grow as the years continue.

Mobile proximity marketing in my opinion will continue more vigorously in the future . This is a captive audience for the hotel to connect with its guests to upsell , inform , drive business to the brand and its affiliates as well as a great tool for guest retention . Undoubtedly , the cell phone has replaced Ipads and computers in the movement for vacation guests for example . A guest would usually not take their laptops to the pool area but will more often than not , take their cell phone. A popup Ad while walking by the boutique or an outlet can stir emotions to visit or purchase that was never planned.

This article discusses how, using proximity marketing and hotels can deliver relevant content to guests' mobile devices at moments of maximum influence, in a contextually relevant environment. With proximity marketing, hotels can advertise to a captive audience without leaving their property or hotel rooms. Messages can be tailored according to the hotel or advertising partner's needs in real-time.

Mark Starkov, President & CEO at HEBS Global provides advice as to how to understand and optimize several tools hotels use for bookings. We live in a world where mobile connectivity is on the rise with no fall in sight. More and more people are spending more time and money on and through these devices, and it is something that our travel and hospitality industries are booming from. In 2014, nearly 40% of web visitors and page views were credited to non-desktop computers. In terms of hotels, these devices can also account for over 20% of bookings and 17% of sleeping room nights. Between 2013 and 2014, hotel revenue generated via tablets more than doubled and booked over 77% more room nights than non-"pure" devices. These stats alone should have all hoteliers seeing opportunity. The world of e-commerce is allowing hoteliers and other travel companies to open up many revenue streams. Between DGS, OTAs, and CRM, we are able to reach a much wider audience and bring in an exponentially larger amount of business. These tools do not work for free, as there are often commissions or subscription fees these companies are compensated for. As valuable as these third-party tools are, it is equally important to invest in your direct-booking outlet. Booking direct business keeps the most money in your pocket. Not only will you get optimum rates, you will also save on commissions, referral fees, etc. Just imagine not having to pay a third-party commission of 10% of a $100,000 dollar piece of business. That's 10 thousand saved. Sometimes, when large corporate events are booked, there can be two referral services involved, resulting in 15% commission payout. In terms of direct vs. third-party business, a hotel could not survive on only one.

This article explains the benefits of Global distributions channels in the hotel industry, The benefits listed are strong continuous annual growth, more corporate bookings, worldwide exposure. and significant revenue stream for any hotel. The most significant point was the topic of an increase in corporate bookings. Large companies use GDS to track their employees travel expenses. This is efficient because companies are able to use this system to manage costs and expenses of travel. Although some hoteliers may say this "dying", it appears GDS is still generating business and revenue for many companies.

ARTICLE SUMMARY Introduction and evolution of Internet has revolutionized the way hotel operators and business in general approach daily activities and strategic planning. Internet is to modern business what electricity was to the industrial revolution. Internet has become a very important tool in generating revenues, lowering costs, increasing productivity, and increasing online visibility and therefore hotel and tourism operators need to utilize this tool to compete and be successful. The future of eMarketing in hospitality and tourism industries is bright and will serve the industry well for many years to come.

This article talks about e-marketing and how it is going to take over the industry. It mentions that the number of people on the interent is increasing and rapidly. E-marketing need to "create interesst, excitement and buy-ins at their hotels". Now with social media, e-marketing is becoming more accessible. "The level of emphasis and extent of experimentation varies greatly by hotel group and location, but growing importance, both for generating revenues, lower costs adn online visibility, is indisputable".

Are you a hotel eMarketer looking for ways to better communicate, educate and develop the role at your property/ies? This article explores some of the issues surrounding these efforts, complemented by a dose of perspective and a generous helping of best practices, all garnished, hopefully, by your own ideas and experiences. By Jitendra Jain

In order to meet the expectation of convenience Internet access for customers, Holiday Inn Resort in Goa has upgraded their WIFI system to be more consistant and turned to IDS-NEXT, which can imporve he existing WiFi facility and develop it as a revenue generating avenue. Several advantages of IDS-NEXT could be like reducing external dependencies, cost efficient and additional revenue channel.

The hotel and hospitality industry has become aware of the green revolution. Hotel guests are now leaning towards hotels that are environmentally friendly. This has lead to hotels establishing environmental programs, growing their our fruits and vegetables for use in the hotel restaurant, non- daily towl and sheet cycling, etc. There has also been an increase in eco-tourism. If the hospitality industry wishes to capitalize on the green revolution they should follow the trend closely.

This article discusses the advantages of having a "green" hotel and how much it impacts the guest experience, in a positive way. From not using chemicals and growing food on site, they have capitalized on a new type of traveler and will find these guests to most likely refer business and be a repeat guest. These travelers know they are participating in "experiential learning" that benefit the environment and provide a more local experience. They are also generating revenue as guests are staying on site and enjoying the local fare, such as food grown on site.

The article goes over the different ways that an Indian company is creating an e commerce platform to transform the way business is done. It goes over the benefits, challenges and impacts that are faced when trying to launch the platform, which is becoming more widely used. With technology providing a bigger platform for the industry, the e marketplace aims to help improve the way suppliers do business, by making it easier to manage sales. The article pointed out that companies who have started to implement the e-commerce have seen 51% increase in revenue, which is remarkable. With all that being mentioned the article does briefly mention how the use of this business aims to provide ways to bring suppliers and buyers to improve the way business is conducted. How the supply chain is handled seems to be the biggest priority of the platform. With e ecommerce being such a major market, the ability to capture the online market is important. I think that the article does not touches upon several points that need be focused on, such as website design and security. Having an operational website that is easy to read and directs the consumer to what they are exactly looking for is one an aspects that affects the way a company does business. I these cases, the quality is as important as the quantity of information that is being given. I went ahead and took a tour of the site and seems easy to use, which is important. The site is generating revenue sales, but with more sales creating more information being stored. Having the ability to adapt to higher volumes of personal information creates a security issue, that would need to be addressed if not handled correctly.

Bartech and it's propriety NeoTray creating a way to have a minibar in a hotel room that allows guests to feel safe and increase revenue for the hotels.

This article is about Hostelworld, which is the global hostel-focused online booking platform and its $3 million investment in a company called Tipi Pty LTD. Tipi provides technology solutions exclusively to the hostel market, enabling guests to check-in and download their keys prior to arrival. Hostelworld is a go-to platform for hostel travellers and have a key focus on investing in the best technology for the hostel market. In my opinion, this article brings out two key points about a couple topics that have been brought out and one that is to come. One being the video about technology revolution and staying ahead of the curve. The other being Proximity Marketing, which is a future topic. By Hostelworld investing in Tipi, it positions them as a market leader in the hostel sector. This will generate a huge revenue growth in the company. In regards to Proximity Marketing, giving customers access to their brand centered platform during their stay, it will increase ancillary revenue and improve guest satisfaction scores.

This article talked about Sabre Hospitality Solution which is the user-friendly e-marketing tool. The Sabre Hospitality Solution will push your internet marketing program to a higher level of performance through the following five essential elements. First, Sabre Hospitality Solutions developed a proprietary Content Management Tool (CMT) based on the needs of the clients. Second, Sabre Hospitality Solutions provides a full e-commerce solution that enables you to build and manage an E-store that generates significant incremental revenue. Third, behavioral targeting engine of Sabre Hospitality Solutions serves potential guests content based on how they are navigating through the Website; and profiles their keyword search that has led them to the Website. Fourth, flash map solution integrates standard interactive components for any set of floor plans. Fifth, Sabre Hospitality Solutions' Interactive Proposal Service (IPS) is a proprietary system that allows a property to respond to RFP's in a highly customized fashion.

Sabre Hospitality Solutions has designed applications and products to push the e-marketing program to a higher level. It offers a wide range of e-marketing tools. Sabre Hospitality Solutions developed a proprietary CMT based on the needs of the clients. This friendly empowering the clients and is widely used in multiple hospitality websites. It also provides a full e-commerce solution that enables you to build and manage and e-store that generates significant incremental revenue. In addition, the behavioral targeting engine serves potential guests content and the flash map solution integrates standard interactive components for any set of floor plans. Finally, it is a interactive proposal service. This unique online presentation of your proposal will ensure your product stands apart form other competitors.

New York Fiesah is an online marketplace that connect NYC event planners and all kinds of vendors in a much easier manner. The event planner signs into Fiestah"s dashboard, they input the items they need and then vendors place bids to fill in those needs. Fiestah generates revenue by taking a 10 percent cut of each transaction. Another thing Fiestah provides for both parties is that the payment is held in escrow until the vendor completesits task, meaning both sides need to get what they want first. This will make sure both parties can get what they want. Testah team has been hard at work building out the marketplace, introducing themselves to lots of NYC business, and trying to get traction. The next thins on the company's long to -do list is to create full merchant profiles with the ability to rate vendors some time in the next few months. Also Fiestah plans to bring its market place to a next city - San Francisco.

The article talks about an online company in New York that was designed by Nurul Yahya called Feistah. It's an online event planning that allow all kind of vendors in a much easier manner then what's described above. The event planner simply signs into Feistah dash board input what "item" they need for event and then vendors place bids to fill in those needs. The company generates revenue by 10 percent cut of each transaction. In the next thing on the company's long to-do list is to create full merchant profiles with the ability to rate vendors sometime in the next few months. Fiesta next expansion is to startup in San Francisco.

This article provides an overview of the importance for hotels to have a centralized function and not outsourcing the hotel accounting, meaning that hotels should not use a third party provider. Companies are compelled to change, to innovate, and in need to keep up with the competition. It says that some hoteliers are choosing to outsource because is trendy, but not always function in their best interest. This article emphasizes the pros and cons, but mostly all the negative results of outsourcing, using other companies to do the work that should be centralized.

https://www.hospitalitynet.org/opinion/4083889.html My article highlights the cons of outsourcing a hotel's accounting system from a third party provider. The author mentions that in the hotel industry, technology is constantly changing and every hotel is trying to stay on trend and "keep up with Jones'". The main issue with outsourcing is the reduced level of service. "In a full-service hotel, the accounting department provides a long list of services: receivables, payables, payroll, revenue control, cash management, systems oversight, audit, food and beverage controls, purchasing, receiving, general accounting and budget/forecasting to name but a few." When you outsource, there is reduced attention to these details. If a hotel's own accounting department handles these daily operation segments, there is less likelihood for error and they will be able to work with the various departments to correct the issues. It also saves tons of money to handle accounting in-house. Another important issue that was raised is that if accounting is outsourced then there is no room for development for an accounting department; no growth, no promotions. A pro is that outsourcing gives a financial manager the ability to focus on the bigger picture and see where changes can be made. If they are bogged down with little details, they might not be able to be the leader the hotel needs.

The article discussions the pros and cons of whether a Hotel should out source their accounting to a third party. The author of this article strongly agrees that Hotels should not out source their accounting. The author finds it "unintelligent move". Many Hotel owners believe it's "trendy" and necessary to out source their accounting to keep up with their competitors. I agree with the author, that Hotel should do their accounting on site. Management would have better control over functions and departments such as; payroll, auditing, food and beverage management.

In the article, "Travel Agents Increase Use of GDS to Book Hotel Rooms," it talked about how the leading global provider of revenue is generating solutions for hotels, it shows how important GDS platforms are to travel agents. "84 percent of respondents indicated that they were using their GDS platform the same amount or more often than in the past, with 35 percent stating that they are using GDS more." Back in 2009, when the last study was conducted, about 26 percents of travel agents said that they used their GDS platform more often than in the past. This study also states that the annual GDS shopping displays will be over $50 million in 2011, which will increase more than a million bookings compared to 2010. There was another survey that was done and they surveyed different travel agents from across the world that were subscribed to a major GDS system. In the survey the travel agents indicated that promotional messages are effective and often prompt bookings. Out of the travel agents they surveyed, 66% said that they were aware of the "promotional messages requested addition information by looking at the screen attached to he promotional message." From this survey it showed that promotional messages are an excellent way to reach travel agents and from reaching the agent, they also reaching the customer, it's a win-win reaction.

I enjoyed the part about brand and promotional messaging, that is always a lure for me. When I see an attractive offer, evern If I'm not interested in booking or going to the destination, I often click on it anyway just to see the offer. It is a very effective marketing tool.

Proximity Marketing is the trend of the marketing sector of the hospitality industry. Based on the statistics, there is a great increase in using proximity marketing recent years. And there are some reasons why hotels choose to use this technology. First, it enables the hotel to reach potential customers and providing electronic forms of advertising. By notifying guests of exclusive promotions hotels have to offer through their mobile phones, hotels and advertisers have a greater chance of customers responding to their advertisements, and therefore a greater ROI on their marketing spend. Second, from the perspective of the hotel, it decrease the advertising cost in terms of decreasing labor cost. It is said that proximity marketing has a tremendous revenue-production potential, and more hotels are engaging in using proximity marketing.

Proximity marketing is the localized wireless distribution of advertising content associated with a particular place. It is now becoming one of the most popular marketing tools in any industry especially in hospitality. Marketing people from hotel industry were looking for new marketing tools past few years. Instead of sending out promotion mails or emails, they need to have better ideas. What they realized is that wish an increase in the use of mobile devices, hotels can communicate and provide better service with guest cell phone. They also realized guests usually watch TV, while they are waiting to be C/I. So hotel is now providing offers while guests are in line. It is a Win-Win situation. The way to find communication is now the key of marketing. Proximity Marketing is a type of eMarketing that will help to communicate with guests with low cost.

According to this article, it said that by the end of 2011, 91% of Americans  owned mobile phones, and Smartphone penetration have been doubled. Obviously, it becomes a trend in hospitality industry nowadays that more and more people use smart phones and tablets. Based on wireless such as bluetooth, it allows hoteliers to interact with customers much easier and more convenient. Proximity marketing is one kind of eMarketing which is very popular in daily life. It is well known that better marketing brings better sales which of course increases revenues of companies. By sending guests nearby informations about promotions and discounts, hotels attract more guests than before. However, too much informations sent to guests will make them sucks and they have no choice to select what they really want. So in my opinion, I think it should be improved.