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bench7628

How Proximity Marketing Is Driving Retail Sales - 0 views

  • I believe that another “P” - “Proximity” - is most relevant to investors today, as it represents the final connection between companies and consumers
  • InMarket has reported that interactions with advertised products increased 19 times and in-store app usage was 16.5 times higher for users who received a beacon message.
  • Proximity Marketing has tremendous revenue-producing potential, allowing everything from retailers, hotels, casinos and more, to deepen their connection with consumers, encourage more loyalty and greatly improve the customer experience. Importantly, all of these factors combine to make Proximity Marketing a very effective tool to generate higher ROI for businesses and advertisers.
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    • bench7628
       
      It is a description of the production of potential revenue with a deeper connection with consumers that improves customer experience.
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    This article about proximity marketing does description in the potential revenue for retailers, hotels, casinos, and connections with consumers that encourage more guest loyalty.
hectorpachon

A viewpoint on GDS surcharges and the evolving airline distribution landscape | PhocusWire - 0 views

  • The fact is that the current system is old. It’s been around since the 60s and it has serious flaws baked into its older mainframe approach. Not so long ago, research revealed security flaws in PNRs as used by the GDS, which meant they could be easily hacked.
  • This means that travel agents’ bookings are swayed by the airlines they have preferred agreements with. It earns them bonus payments if they reach a certain volume each year. This can skew the equation away from the traveler's best interests.
  • The fact is that three main players still dominate the global travel distribution system.
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  • Recently, there have been disputes between certain airlines and the GDS.
  • Tensions between airlines and GDSs have been further exacerbated with carriers making more from unbundling their fares and then offering services like luggage, food and drink as add-ons. This move has been hugely profitable for airlines -- and has increased airline revenues by shielding these add-ons from middlemen.
  • European airlines have perhaps been most active in exploring models outside the GDS.
  • The fact is that it’s new technology that will guide and change the travel distribution system. Smaller players have more of an opportunity to create innovative solutions that do not involve the big three.
  • They have direct access to consumers and are pushing hard into selling travel. If Facebook opens up its user base of more than one billion people to travel companies you can imagine that many will jump on board.
  • Airlines have been heading towards a merchandising strategy for some time now, increasing profits and shifting from a service provider to a retailer.
  • However, there is no doubt that this is the path they need to take to grow and attract wider sales.
  • The fact is, in order to make these changes successfully they cannot be restricted by financial burdens, outdated systems and old technology. New platforms and systems need to be continuously developed to support them as the airlines’ business model evolves and passengers demand more from their carrier wherever they book their tickets.
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    Some argue that the GDS is a fair system. It it does enable travel agents and clients to access travel data, make price comparisons, access special rates and book travel. The big 3 Travelport, Amaadeus, and Sabre do generate billions of dollars of global travel sales for travel providers. The fact is though that the current system is old, dating back to the 60's, has serious flaws, and can be hacked. It is also biased as travel agents bookings are swayed by the airlines they have preferred agreements with, which can skew the equation away from the traveler's best interests. Having 3 Big players with a virtual travel monopoly is not an ideal situation. Carriers are fighting back and airlines are changing strategy. Tension between airlines and the GDS caused by disputes has European airlines exploring models outside the GDS. To make the changes successful they cannot be restricted by outdated systems, old technology or financial burdens.
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    It discusses the high fees of the GDS and the fact that their system needs to be upgraded. Also, the challenges airlines face with paying those fees and ways the airlines are making additional revenue without having to pay fees to the GDS.
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    Due to the high fees some airlines were or are paying to the GDS companies, they are re-thinking their strategy to get more revenue out of the passengers, in order to mitigate the lost of revenue for not being anymore in an open GDS market like Amadeus. Amadeus knows they are the big gorilla in the market with a 44% of the share, compared to Sabre or Travelport, the other two leaders in the GDS market.
uhey77

Despegar acquires Mexico's Best Day Travel Group for $136M | PhocusWire - 0 views

  • Argentina-based online travel agency Despegar is boosting its position in Mexico with the purchase of Best Day Travel Group for $136 million.
  • this makes the transaction the largest in the Latin American travel intermediary space in terms of revenue and will allow it to increase its revenues by 25%.
  • 75% of Best Day’s revenue is generated in Mexico
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  • 95% - of its revenue comes from the sale of packages, hotels and other travel products sold direct to consumers online and through call centers and at more than 200 kiosks.
  • “This is a significant milestone in our consolidation strategy that started with the acquisition of Viajes Falabella,” says Damian Scokin, CEO of Despegar.
  • We are acquiring a company with a solid strategic position and a successful track record that provides significant opportunities to strengthen Despegar’s presence in Mexico and to grow its business to customer value proposition.”
  • Despegar says a portion of the purchase price is payable on a deferred basis and includes a variable component of about +/- 10% based on future performance. The transaction is expected to close during the first half of 2020.
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    Founded in 1999, Despegar went public in 2017 and now operates in 20 countries. Despegar's unique competitive levers combined with Best Day's expertise in wholesale hotel offerings and destination services, will further enhance the value proposition. Best Day also has strong partnerships with leading travel vendors.
yimengliu

Ways to Drive Direct Bookings For The Modern Traveler. - Tuesday, 29th August 2017 at 4... - 2 views

  • It’s important to have a revenue strategy in place to ensure that your total CPA (cost per acquisition) remains as low as possible for all bookings. When it comes down to it, direct bookings are often the key to growing your revenue.
  • When your customers move online, you need to be there too. Hotels will always be brick-and-mortar establishments (at least until virtual reality gets much further along!), but they still need a strong, active online presence.
  • The internet is key to growth, and a direct booking strategy is the most cost efficient way to grow online.
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  • Beyond the technical details, here are two tried-and-tested SEO strategies you can use for your hotel: Focus on link quality, not quantity
  • Look at your social channels.
  • Video marketing is key when it comes to mobile.
  • Social media creates a dialogue with your potential guests. Contests are popular among millennials, and vivid imagery in your posts will grab attention.
  • If guests are turning to the internet for all their travel needs – and many are – it’s time to use the internet to attract their interest and get your hotel more direct revenue.
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    This article discusses the strategy of drive direct booking for attracting the millennial travelers. There have 5 key insights into the millennial market and the ways to gain the revenue for the hotels. The hotel has to learn how to drive direct bookings through technologies. Market trends are changing fast, especially in hospitality industry. Thus, the hotel owners need to focus on finding the strategy that can help themselves to gain the income. The big benefit of direct booking is hotels can pay less to maintain our own brand website than pay OTAs and other third parties. First of all, the internet is the key that can help the hotel growth the demand. According to the U.S. Census Bureau, Millennials have overtaken Baby Boomers as the America's largest generation. Hotel owners have to know that 90% of millennials go online every day. Thus, we have to move our attention to online as well. Second, hotels can take advantage of search engines. Almost everyone would like to use the search engines every singer day. For example, "Just Google it" has become a common refrain for the younger people. No matter search hotels, restaurant or airplane tickets. That is the best way they must be used. Just like the article mentioned "hotels should focus on quality, not quantity" of their website. Third, mobile phone or smart phone, the best hotel for the Millennials, that must be the hotel can provide the best technology in order to help them to save times. For example, my favorite hotel in Las Vegas is Aria. They provide the smartphone check out and check in service. Customers would like to choose the online service in order to avoid the line. Last, video marketing and social media. I believe the video can attract customers rather than the pictures. The article mentions that "2016 is going to be the major year for video on mobile". For customers, social media is the best way to let them know the hotels better. They will read the feedback from other travelers.
nunes305

PCI Compliance for HOTELS: What you need to know (PCI-DSS) - 2 views

  • In Spain, one of the world’s leading travel destinations, hotels accounted for a $2,995 million revenue in 2017, showing an annual growth rate of 6.0% In France, it reached $4,946 million, and UK recorded a $5,746 million revenue the same year.
  • The growing contribution of the hotel segment to the GDP of many countries worldwide, among with the increase in revenue and data theft, made credit card security a top concern. As a result, the PCI-DSS security standard became an essential consideration for hotels, becoming absolutely obligatory fromf 2018.
  • t defines the best practices for card security that every company should implement, affecting all hotels independently from their size or location. The purpose is to reduce as much as possible the risk for fraud, data theft, identity theft, and other threats.
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  • As a global industry that generates an overwhelming revenue of 550 billion dollars annually, the hospitality industry seems to be one of the most attractive segments for credit card breaches and data theft.
  • Credit card storage – many hotel managers are under the wrong impression that only digitally stored credit card information must be protected, but this is not true. In fact, under PCI Compliance and privacy laws, all paper documents containing personal data must be physically secured and adequately restricted at all times.
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    PCI Compliance for HOTELS: What you need to know (PCI-DSS)
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    Thanks for the summary. It's comforting to know that countries in Europe are getting on board with being PCI compliant, one less thing to worry about when using credit cards internationally for booking, shopping or entertainment.
jlewinsky

Facial Recognition Market Expected to Reach $9.6 Billion Worldwide by 2022 | News | Hos... - 0 views

  • According to a new report published by Allied Market Research, titled, World Facial Recognition Market - Opportunities and Forecasts, 2015 - 2022,  the global facial recognition market is expected to generate revenue of $9.6 billion by 2022, growing at a CAGR of 21.3% from 2016 to 2022.
  • North America is expected to dominate the market throughout the forecast period, owing to the high expenditure on security systems by government agencies in the region.
  • Facial recognition technologies include 2D, 3D, and facial analytics. The 3D facial recognition technology segment holds a significant share in the world facial recognition market, owing to its high accuracy in terms of recognizing facial features as compared to the 2D facial recognition technology.
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  • 2D technology is also widely used due to its low installation cost and operational ease as it uses 2D appearance
  • Among the component segments, hardware accounted for the maximum revenue share in 2015, owing to high cost of 2D and 3D cameras. The facial recognition software market is estimated to grow at a CAGR of 23.9% during the forecast period. Development of effective and efficient facial recognition software applications is expected to drive this market.
  • In the year 2015, homeland security contributed the highest revenue share, accounting for around 21% of the overall market revenue. From a growth perspective, intelligent signage is likely to be the most prominent application of facial recognition, anticipated to witness the highest CAGR of 25.1% during the forecast period.
  • North America offers lucrative opportunities for market growth, exhibiting a huge demand of facial recognition technology for homeland security and criminal investigation.
  • Some of the leading players in the facial recognition market include Cognitec Systems GmbH, NEC Corporation, FaceFirst, Inc., and 3M amongst others.
  • These players have adopted product development, acquisitions, agreements, and partnerships as their key strategies to strengthen their market position and expand their geographical presence. For instance, in 2015, Cognitec Systems GmbH launched and incorporated a superior version of the face recognition algorithm B9 in FaceVACS-DBScan, one of the its leading facial recognition products.
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    According to this article the technology of facial recognition is expected to grow tremendously by 2022. Also, mentioned industries such as homeland security who has been using this form of technology since 2015. When comparing the 2D and 3D technology, 2D technology is more widely used due to its low cost and ease of use. The use of 3D technology has its place in the industry as well due to its ability to recognize facial features more accurately than 2D technologies.
mannypjr

How Restaurants Can Minimize the Impact of COVID-19 - 0 views

  • This article presents strategies and tips to help restaurants minimize the revenue impact of the coronavirus, and for driving new revenue where possible.
  • make your restaurant as clean as possible.
  • Send a message to your customers that your restaurant is a haven from what’s outside.
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  • Lower rates of walk-ins and new bookings mean that you should plan to overbook more than usual.
  • Stay on top of stimulus options
  • Analyze POS data for food cost savings
  • Partner with nearby restaurants
  • In general, make sure your team has a plan in place for dealing with a sick customer. Protecting your employees and making the other customers feel safe remains your number one priority.
  • Even if diners end up going to restaurants less frequently during this period of social distancing, they might still come together for notable calendar events, such as Easter, Passover, Mother’s Day, Graduation celebrations, and so on.
  • Market your restaurant as a safe place to gather.
  • Engaging your regulars is going to be critical during the coronavirus. These are the people who probably already see themselves as part of your community.
  • Offer your community a safe place to come together, get to know them, serve them. You will inscribe a place for your restaurant in your community’s shared history.
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    This article is about how restaurants can use new and creative ways to minimize the impact of COVID-19. Specifically it gives some great ideas and context around cleanliness, flexibility in reservation policies, identifying cost saving opportunities, and unique ways of driving revenue.
Yuting Peng

Get More from Your PMS - Hotel Management Network - 0 views

  • For most hotels the key technology is the Property Management System (PMS). Often, it is referred to as the single most important IT application for hotels.
  • PMS is the central data infrastructure of the hotel, handling the administration of all of the guests, their profiles and bookings, as well as the revenues generated.
  • a large under-use of the range of the PMS functionalities, and consequently a low return on investment from the PMS software. This may be explained by the lack of training or could be explained by lack of access to other data/functionalities (perhaps, controlled by other departments) or the complexity, albeit perceived complexity, in attempting to extract cross-functional / departmental data.
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    Nowadays, most hotels are using PMS as their key technology in property management, which referred as the single most important IT application for hotels. PMS works as the central data infrastructure of the hotel, handling the administration of all the guests, their profiles and bookings, as well as the revenues generated. Besides PMS, hotels also use CRS and EPOS to fully maximise the benefits of the system. To obtain the maximum function of PMS, we came up with some ways to solve the problem. Firstly, there are already many PMS providers available on the market that provide various solutions with a large number of functions based on the changing needs of hotels. Many hotels today do not use all the functions of PMS, which will lead to low return on investment of the PMS software. Secondly, hotels are lack of awareness and exploitation of the full range of PMS functionality. This under-utilisation inevitably costs hotel operators in financial terms, as they are paying for functions that they do not use. 
Bing Kwok

Hotel Industry Trend: Mobile Proximity Marketing Gives Hoteliers and Their Advertisers ... - 0 views

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    This article talks about the new tool for the hotels to reach out to their customers, an interaction with their guests only through mobile phones. and this shows that the future of hotel marketing is going to evolve even further. One of the reasons why this would be helpful is because of the way everyone communicates today. of all the mobile phones used today, 95% of them have bluetooth, and another interesting statistics is that 98% of guests switch on the television within five minutes of entering their room. hotels customers are primed for information and offers. Proximity marketing enables guest engagement, it offers what the guests want the most. This type of marketing has a tremendous potential of generating revenue, by establishing stronger roots of connection with their customers. So basically it provides instant connection, manage campaigns and transactions in real time, advertise smarter, no delivery fee and no privacy issues. all this along with growing customer acceptance of location based services will open new opportunities for the for proximity marketing, not only for hospitality but for others too.
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    Changing technologies provide a new way for hotels to interact with guests. Increased interaction engages the customer in a hotels promotion. Exclusivity generates interest and repeat business, and instant measurement gives hoteliers capabilities traditional advertising never could alone - instant customization and measurable reaction at no cost. With technology that allows digital signs to 'talk and interact' with nearby mobile devices, providing mobile users with information and incentives at exactly the time they need them, hotels and advertisers can transform their in-room TV and digital signage into interactive consumer touchpoints. The result is a true consumer interaction, which evolves in real-time. Hotels can deliver branded content to guests within a certain location. Proximity marketing has tremendous revenue-producing potential, allowing hotels to deepen their connection with guests, encourage more loyalty and greatly improve the customer experience: all of these factors combine to make proximity marketing a very effective tool to generate higher ROI for both hotels and their advertisers.
jazminesnyder

India's Modi Seeks More Investment From U.S. Tech Sector - US News - 0 views

  • India's burgeoning tech sector is responsible for creating more than 400,000 American jobs
  • business deals between firms in the two countries have generated $22.5 billion in tax revenue for the U.S. since 2011
  •  the report should dispel the stereotype that India’s IT sector “takes jobs away from the U.S.”
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  • “neither country can achieve their nation’s economic vision without the other.”
  • easing the process for skilled Indian workers – including college students educated in the U.S. – to be able to obtain visas so they can join American tech companies.
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    The main focus of my article is about the financial connection between India and the U.S. The article discusses a few key issues about India and their tech support in relation to the U.S. It tells us that "India's burgeoning tech sector is responsible for creating more than 400,000 American jobs, according to a report released Monday that prompted calls from leaders in both nations to reform business practices so the industry remains a bright spot in an often unreliable global economy". The article goes on to list some more interesting statistics. For example, "The new study from the National Association of Software and Service Companies, a trade group representing Indian technology firms, said business deals between firms in the two countries have generated $22.5 billion in tax revenue for the U.S. since 2011". I feel that these two statistics are important because in too many cases, Americans feel that "foreigners" are coming to the U.S. and "stealing" all of our jobs. That is clearly not the case with every situation, as the article points out. The article further explains that India is seeking to ease the process of coming into the U.S. to work. They feel that if they are providing their highly skilled techs to come work here and/or gain their American education here than the process of getting the visa should be much more lax than it is for other countries. I don't know if I agree with that one, but I understand their point.
mandalysha

CBRE: How hoteliers are controlling communications costs | Hotel Management - 0 views

  • A new report from CBRE analyzed the costs of phone and internet service within the information and telecommunications systems department of nearly 3,000 hotels
  • The report, which examines data from 2015 through 2019, found a significant upward trend in telecom-related expenditures.
  • the data also revealed a steep decline in revenue generation from charges for phone calls and internet access
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  • From 2015 through 2019, total operating expenses increased at a compound average annual growth rate of 2.2 percent at the properties in the study
  • During this same period, the hotels’ cost for telecom service increased at a CAGR of 9.7 percent
  • As part of efficient cost control, organizations within the industry are undergoing IT audits
  • Individually, the cost of phone service rose by a CAGR of 5.7 percent
  • The 9.7 percent combined CAGR for telecommunications cost is more than three times the CAGR for any other individual hotel department cost during the same five-year period
  • Telecom costs increased the most in the upper-midscale (CAGR 21.5 percent) and upscale (CAGR 13.9 percent) chain scales
  • the cost of internet service increased at an average annual pace of 16.1 percent
  • organizations are upgrading certain technologies
  • consolidating telecom vendors across portfolios
  • Owners may be able to upgrade a Dedicated Internet Access to current market pricing—saving 20 percent in the process—while improving the speed capabilities by 200 to 300 percent
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    A report from CBRE analyzed the costs of phone and internet services within the information and telecommunications systems department of nearly 3000 hotels. There is an upward trend in telecom-related expenditures with a decline in revenue generation from phone call charges and internet access. Three ways to control these costs are undergoing IT audits, consolidating vendors across portfolios, and upgrading technologies.
marble_bird

Hotel_ITSec.pdf - 0 views

shared by marble_bird on 15 Jul 20 - No Cached
  • During the past decade, information technology (IT) has significantly changed the way the hotel industry controls and manages operations. While many technologies have been utilized, some newer technologies have emerged in the literature and in practice, and many of them impact the hotel’s security.
  • Among the results, this study identified a gap between hoteliers’ understanding of IT budget adequacy and the adequacy of installed IT security systems.
  • Advancements in technology are increasing at a remarkable rate. As technology becomes more important, organizations that do not keep up with these advancements could lose business opportunities to other competitors that do
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  • The four leading technologies which have showed a high adoption rate from the industry and have received attention from academia are: self-service, wireless, green, and security technologies. The advantages of these technologies for hoteliers include enhanced customer services and operational efficiency (Doyle, 2007), decreased guest wait times, more efficient methods to settle bills (Singh & Kasavana, 2005), reduction of energy costs (Meeroff & Scarlatos, 2007), and protection of sensitive customer data and credit card numbers
  • In addition, exploring the influential factors of security system usage will provide greater depth of knowledge with respect to why some hotels have adopted more security systems than others.
  • there is still a lack of understanding of the nature of risk associated with inadequate IT security, especially among operators of hotels that do not have their own IT departments.
  • Self-service technologies are commonly defined as devices or applications which permit users to produce a service independent from the direct involvement of the service provider (Meuter, Ostrom, Roundtree, & Bitner, 2000). The use of self-service technologies in the hotel industry has grown considerably, especially in the areas of self check-in, in-room check-out, and foodservice kiosks
  • IT systems refer to general support systems such as mainframe computer, mid-range computer, and local area network.
  • Some of the most significant wireless technology applications involve the use of mobile handheld devices, such as personal digital assistants (PDA), tablet PCs, and cellular phones, or RFID (radio frequency identification). RFID utilizes computer chips and antennas, allowing the chips to wirelessly communicate with a receiver.
  • While the major usage of RFID in the hotel industry was for inventory control purposes, it also has the potential to be utilized in ways that can provide more conveniences for the guests.
  • Other possible uses include placing RFID tags on items of high value as a means of theft prevention or integrating tags into guest loyalty cards for easy identification
  • IT investment that lowers environmental impact and IT that manages the environmental impact of other systems are commonly referred to as “green technology”
  • Many hoteliers might think becoming more environmentally friendly will cost more for their hotels. However, it has been demonstrated that “going green” is not only the right thing to do for the environment but also provides tangible bottom-line benefits for hotels by reducing consumption of energy and water, as well as other related costs.
  • Some of the risk factors involved include reliability, security, and privacy issues
  • A hotel with more technologies being utilized will install more security systems than those with fewer technologies.
  • Many of these attacks involve attempts by thieves to gain access to customer credit card data, and these attempts constitute a major portion of the risk inherent in IT security
  • if a system is breached and the merchant is not PCI compliant, the merchant then is responsible for all costs associated with improperly used credit card information taken from that system (Kress, 2008). These losses could bankrupt a business if the security breach goes undetected for even a short time.
  • IT security systems are those measures taken to protect the confidentiality and integrity of proprietary data.
  • two main paradigms of adoption are believed to occur: bottom-up adoption and top-down adoption.
  • Thus, it is reasonable to assume that organizational factors (e.g., financial factor, human resource) will influence the implementation stage of security systems at a hotel.
  • A hotel with sufficient IT budget will install more security systems than those with insufficient IT budget.
  • That is, if a hotel does not have its own IT department, it will have a negative influence on successfully installing or maintaining necessary security systems.
  • A hotel with its own IT department will install more security systems than those without.
  • Overall, the state of IT spending on security continues undiminished because managed security services are required for almost every application (Communications News, 2007).
  • risk associated with a breach of IT systems security (e.g., network break-ins) is very high. Consequently, no sector of the business community is exempt from attacks on their IT systems, with an attack being defined as a technique used to exploit a system’s vulnerabilities.
  • Given the importance of security and privacy at a luxury hotel, this study expects luxury properties to have installed more security systems than other segments
  • Most hotel employees use their property management systems for hotel operations and should be able to check their e-mails.
  • To justify the low response rate, previous studies which have compared response rates of mail and e-mail for surveys were reviewed.
  • the large majority of respondent properties do not have their own IT departments. Second, the people making IT decisions generally do not have IT backgrounds or training. Third, the large majority of respondent properties have little more than firewalls or antivirus software to protect their proprietary data, and these systems alone are not adequate to meet PCI standards, as they do not take steps to encrypt and protect cardholder data, maintain a vulnerability management program, implement strong access control measures, regularly monitor and test their networks, and maintain an information security policy as required by the Security Standards Council.
  • The respondents were asked to select from a total of fourteen securities related systems
  • The profile of the respondents revealed that they were experienced hoteliers with more than ten years experience in the industry
  • Fifty-three percent of the respondents reported that they were with chain hotels that would be considered mid-range properties with an average of 175 rooms (median of 107). Over 80% of the respondents reported working in operations, while fewer than 4% reported working in either IT or engineering (Table 1).
  • Nearly 70% of the respondents’ properties did not have their own IT department (69.2% did not have, and 30.8% had their own IT departments, n = 234, missing data = 10).
  • Fifty-three percent of them (n = 244) thought the most important goal for hotel technology would be enhancing the customer’s experience.
  • second identified goal was utilizing technology to help generate revenue (41%)
  • differentiate properties from their competition (20%), to lower expenses (16%), and to increase security (6%).
  • Internet kiosks in the lobby represented the most frequently used self-service technology (36.5%, n = 244), followed by kiosks for airline check-in/board pass
  • With respect to security systems currently in use, antivirus security systems represented the most frequently used security system (92.2%), followed by hardware firewalls, software firewalls, physical security, and encrypted login security systems.
  • intrusion detection was the most frequently identified system (15.6%), followed by vulnerability assessment scanning (13.5%), Internet scanning (13.1%), antivirus (11.5%), digital ID server (11.5%), and nonreusable passwords (9.8%; Table 2).
  • Thus, the hypothesis was supported that there was a linear relationship between the three factors and the adequacy of security systems.
  • The positive standardized coefficient (β) of .389 indicates that there was a statistically significant (p < .001) linear relationship between IT usage (the number of wireless, self-service, and green technologies a hotel was using) and the adequacy of security systems
  • The study revealed certain things of interest, the most significant of which is the need for greater emphasis on IT security among hoteliers.
  • only about 30% of all respondents reported having their own IT departments. Since budget hotel properties are extremely unlikely to have an IT department, it is highly likely that the very large majority of IT decisions throughout the industry are being made by hotel operators for whom IT is not their primary area of concern.
  • Furthermore, the focus of hoteliers for future IT implementations is enhancing the guest experience (53%) and generating revenue (41%). Very few respondents (6%) identified increasing security as a 5-year IT goal.
  • While almost all respondents use information systems as part of their jobs, very few are trained in the development, maintenance, and secure use of these systems.
  • no correlation was found between the respondents’ perceived adequacy of their IT budgets and the adequacy of installed security systems, as adequacy of IT budget did not appear as a significant term in the regression analysis.
  • Nearly 10% of respondents do not have so much as anti-virus protection for their systems, and nearly half do not even take simple physical precautions to protect their IT systems.
  • we note that no correlation exists between the respondents’ perceived adequacy of their IT budgets and the number of installed IT security systems, as the number of installed systems was not a significant factor in the regression analysis.
  • The sample obtained in this study represented the targeted sample: over 80% of the respondents were working in hotel operations. Furthermore, the purpose of this study was to explore hotel operators’ insight of technology usage, IT budget, and security measures rather than to confirm existing theories or to generalize the results.
  • it is reasonable to conclude that the respondents did not have an adequate understanding of the nature of the IT security hazards facing them for the average property does not have installed systems adequate to meet PCI standards, yet they reported having adequate budgets.
  • In order to adequately protect proprietary data, one must have an understanding of network security, which is an understanding apart from software functionality.
  • Properties with their own IT departments, however, reported that they had a higher number of installed IS security systems than did those properties without their own IT departments.
  • roperties without their own IT departments, in particular, have a less adequate understanding of their IT security needs than may be necessary.
  • This study found hoteliers’ lack of attention to security provision, training in IT, and PCI compliance can place hoteliers at great risk. For example, the cost of a single incident at a noncompliant property could result in the loss of the entire business.
  • It will be useful to examine the reasons why luxury properties are more likely to employ adequate security measures to determine whether this greater use is attributable to better understanding of security issues or some other factor.
  • The study was limited by the nature of online surveys; the response rate was quite low. Future studies could test the proposed research model via paper-based mail surveys to increase a response rate.
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    This article covers a study performed on various hotels to determine management's level of IT knowledge and security implementations in relation to the hotel's IT security budget. The article discusses four types of technology impacting the hotel industry and how management responses to trending technology can affect a business, particularly in terms of a data breach and overall security. The study finds that an alarming percentage of hotel managers are not adequately informed on the risks and procedures of IT management and security, and many do not have proper IT security measures in place despite having an appropriate budget.
jingyaoxie

Hospitality Solution - 1 views

  • POS systems have revolutionized the Hospitality industry. The deployment of these systems have decreased service times and increased efficiency of the orders.As a result, the hospitality industry is able to provide better and efficient services to their guests. Further, these systems help the hosts differentiate themselves from their competition; thereby increasing their market share and improving their revenues.
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    POS systems have become a key in the hospitality industry. With these invention the hospitality industry, is able to provide the best and efficient service to their guests. Also, POS systems allows to have the correct information on profit, inventory, etc. In the market, we have hundreds of companies that are competing in providing the best prices and services....
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    There are so many reasons why a business should choose to go with a point of sales. The ability to track and record sales, marketing and promotional sales allows you to gather data from previous promotions and security is also a plus for adding a point of sales. You can monitor sales without being present; instead of focusing on ensuring that employees don't take money, POS would allow you to perform other jobs within your role.
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    This article discusses only the positives of POS systems. I do agree with the fact that there are many advantages of these systems such as monitoring sales. These systems are also cost-effective and convenient. However, I personally would have liked to see some disadvantages in the article, even though I do feel that these systems are very advantageous to the hospitality industry.
  •  
    POS systems have revolutionized the Hospitality industry. The deployment of these systems have decreased service times and increased efficiency of the orders.As a result, the hospitality industry is able to provide better and efficient services to their guests. Further, these systems help the hosts differentiate themselves from their competition; thereby increasing their market share and improving their revenues. Moreover, these systems help the industry in managing compliance & regulations into their business practices. Hospitality is the act or practice of reception and entertainment of guests with kind and generous liberality. It is a relationship between a guest and a host. The hospitality industry includes hotels, restaurants ,casinos,catering, resorts, membership clubs, conventions, attractions, special events,and other service for travelers and tourists.
  •  
    POS systems have revolutionized the Hospitality industry. The deployment of these systems have decreased service times and increased efficiency of the orders.As a result, the hospitality industry is able to provide better and efficient services to their guests. Further, these systems help the hosts differentiate themselves from their competition; thereby increasing their market share and improving their revenues. Moreover, these systems help the industry in managing compliance & regulations into their business practices. Hospitality is the act or practice of reception and entertainment of guests with kind and generous liberality. It is a relationship between a guest and a host. The hospitality industry includes hotels, restaurants ,casinos,catering, resorts, membership clubs, conventions, attractions, special events,and other service for travelers and tourists.
Shiyuan Peng

Wi-Fi firm looks to hotels, universities - 0 views

  • The United States wireless network provider Meru Networks Inc is eyeing the Chinese market with the company expecting its revenues in the Asia-Pacific region to double in the next two to three years.
  • The country's thriving hospitality industry and higher education institutes will be the biggest customers for Meru
  • China has been one of the fastest developing markets for Meru because of increasing demand despite slowing gross domestic product growth
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  • Meru is hoping the next-generation of Wi-Fi products will boost sales in China
  • China's education industry could be a safe place to find profits.
  • Meanwhile, the rapid-growing hospitality industry in China is likely to become another gold mine for Wi-Fi providers.
  • The number of five-star hotels in the country hit 651 in January and there are another 500-plus luxury hotels waiting to open
  • The association estimated that the nation's five-star hotels could exceed 1,000 by 2015.
  • Chinese telecommunications carriers have been able to develop their own third-generation telecom standards. Overseas communication network providers seem to have trouble adapting to the different industry standards.
  • The company is trying to team up with China's telecom carriers to better develop the market.
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    Because of increasing demand, China has been one of the fastest developing markets for Meru--an American wireless network provider. The company expects that its revenues in the Asia-Pacific region will double in the next two to three years. The company thinks that China's education industry could be a safe place to find profits and the rapid-growing hospitality industry in China is likely to become another gold mine. It is estimated that China's five-star hotels could exceed 1000 by 2015. However, China has a habit of adopting its own communication standards so that overseas communication network providers seem to have trouble adapting to the different industry standards. Therefore, Meru has reached a decision to cooperate with China's telecom carriers to better develop the market.
chern331

Hotel Property Management Systems: Roadmap and Recommendations - 0 views

  •  The 2019 Smart Decision Guide to Hotel Property Management Systems (click here to access), offers a migration path for hoteliers to keep in mind along the journey toward a next-generation PMS.
  • Putting the right technologies and data foundation in place is only half the battle won. Having the right business processes, organizational resources and performance metrics in place also rank as critical success factors.
  • Focus on data analysis and business intelligence
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  • The insights gained from the tools can have benefits ranging from improving marketing, sales and customer service effectiveness to generating competitive intelligence
  • Simply put, hoteliers need to understand relative channel performance at a granular level and place their bets accordingly.
  • Focus on building a revenue management strategy and culture
  • The strategy should be built upon a solid foundation of revenue goals using targeted RevPAR, GOPPAR (gross operating profit per available room) and other relevant metrics for tracking progress.
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    Starfleet Research, a leading technology research company has released their 2019 decision guide on how to maximize efficiency on a hotel's PMS. The research company argues that according to emerging trends, it is wise to invest in data analytics and developing strong revenue management strategies. Competition is growing everyday, and in order to have an advantage over the market, businesses need to go past the surface of regular PMS, and utilize those with advanced insight tools. The guide provides hoteliers with unbiased information on choosing the best PMS to beat out competition.
jmelilli

Investigation: How airlines gain an edge through pricing (Part One) | PhocusWire - 0 views

  • If airlines work to address these shortcomings, we estimate they could
  • These tactics are already employed by other industries (notably online retail), and with the increasing power of advanced analytics, airlines can profile customers in ways not possible just a few years ago.
  • If airlines work to address these shortcomings, we estimate they could
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  • A proactive scrape of individual markets and testing of new price points would pinpoint the optimum market equilibrium.
  • Precise and detailed forecasts would allow a near-perfect calculation of an acceptable minimum price for the core ticket to capture the rest of a customer’s spending on ancillaries.
  • Amazon’s method, backed by a pricing team of 16 experts and 1,400 developers wielding two acres of underground servers operating with machine learning, generates custom prices based in part on an individual shopper’s attributes.
  • And targeted, customized offers generated with the help of advanced analytics would create additional revenue streams.
  • airlines can calculate exact profitability and the likelihood that the passenger will purchase ancillary products.
  •  
    This article describes the potential in the airline industry for practicing revenue optimization based on the data they collect from their customers and using it to tailor their prices. The argument is that these companies already have much of the data stored they just are not currently using it to its full potential in this digital age. The benchmark the author uses is Amazon. This is part 1 of a 2 part series. 
snesbeth

Top 6 Benefits Hotel Property Management Systems Provide To Your Business - 0 views

  • making hotel property management systems (PMS) vital for hoteliers striving to boost their revenues.
  • Hotel property management systems can automate them, creating opportunities for the stuff to better serve their guests and visitors.
  • in some cases decrease or eliminate time spent on time-consuming tasks and operations, allowing hoteliers to focus on the bigger picture.
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  • provides scope for easy and clear communication between all departments, ensures that they all are functioning effectively and efficiently, saving time and offering guests and visitors an improved and more personalised experience.
  • Hoteliers can advertise across many channels from the large online travel agents (OTAs) and global distribution systems (GDSs) to individual retail travel agents.
  • manage all bookings within one system generated through these third-party channels (OTAs, GDSs, social media, metasearch) and avoid making major mistakes that could negatively impact the guest experience.
  • allow hoteliers to implement effective data-driven revenue management strategies, requiring the tracking of key performance indicators
  • helping them make better business-mix decisions and generate more revenue.
  • PMS solution helps hotel staff perform tasks and processes, such as check-in/out, guest requests, housekeeping status, room maintenance, bookings, billing option with ease.
  • property management systems provide great possibilities of flexible remote access from anywhere and at any time.
  • Hotel businesses should realise these benefits and focus on digital solutions designed to meet their operational needs and boost their profit.
  •  
    The article basically discusses six different ways how PMS's help shape and make the lives of hotel owners much simpler because they take a way most of the behind the scenes thinking action that is needed to run a fully operational hotel. Which ultimately gives the hotel owner more time to consider ways to satisfy their guests to persuade them to keep coming due to the exceptional customer service that may be given.
yuqiongliang

Website, GDS and OTA: the right mix in distribution channel investments - Insights - 0 views

  • Here is a summary of the trends in three online distribution channels used in the hospitality industry: websites, Global Distribution Systems (GDS), and online travel agents (OTAs).
  • The Internet has made marketing more measurable and accountable with different metrics and analytics that show the contribution of marketing to the bottom line. The most critical measures of marketing are the customer acquisition cost (CAC) and the customer lifetime value (CLV), which at times can be difficult to understand and quantify.
  • The CAC is the price a hotel pays to acquire a new customer, which can have a significant impact on RevPAR performance and asset value growth. The CLV is a prediction of the value a business will derive from its entire relationship with a customer.
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  • CAC = Marketing Campaign Costs/Total Customers Acquired
  • CLV = Gross profit from all historic purchases for an individual customer
  • f managed skillfully, the hotel’s website could yield the lowest CAC and the highest CLV as it permits the hotel to have a direct interaction with the customer which could lead to a long-term relationship.
  • Each online distribution channel plays a different role in the hotel’s marketing program:
  • The hotel website is the most critical marketing tool because it can deliver a message that is both relevant and appealing to the target customer.
  • A responsive web design provides an optimal viewing experience by adapting the website to mobile phones, desktop computers, and tablets. A responsive design is an advantage because a wide range of devices are used to make hotel reservations.
  • This could be a significant advantage for a hotel considering that mobile bookings have increased by 42% in the last two years, accounting for 25% of total bookings made in the Americas, as reported by TravelClick.
  • hotel website that contains relevant, unique, engaging, and accurate information will be able to dominate SEO.
  • Online Travel AgentsThis channel has the highest cost for hotels given the bidding process and the commission structure in place, typically amounting to 15% to 30% of revenues generated.
  • Branded hotels typically have agreements and commission structures in place with different OTAs.
  • Most OTAs feature a pay-per-click sponsor listing through a bidding process that typically ranges from $0.25 to $2.00 per click, depending on the market.
  • Each OTA uses a slightly different algorithm to position and rank hotels in the results screen. Regardless of the OTA used, hoteliers should implement the following techniques to position their hotel with the highest possible ranking:
  • The more information we know about customers, the more we will understand how to attract them to hotel properties. Hoteliers need to understand the electronic distribution environment and develop a comprehensive pricing strategy to maximize revenue and profit. Maximizing profitability can only be possible by extracting intelligence on the day-by-day activity of these channels and analyzing the possible displacements.
  • It is important for hotels to ease the booking process for travel agents by including the right type of information and rates in the GDS, and by keeping hotel information current, including all attractions and points of interest that attract guests.
  • Measuring the distribution channelsDemand360 is a market intelligence tool from TravelClick that provides exclusive information and in-depth reports on projected future demand for a hotel’s specific competitive set.
  • GDS provide pricing, availability, and reservation functionality to a world-wide market of consortia, who can book airline, car, hotel, and other travel arrangements for their customers.
  • Here is a summary of the trends in three online distribution channels used in the hospitality industry: websites, Global Distribution Systems (GDS), and online travel agents (OTAs).
  • The most critical measures of marketing are the customer acquisition cost (CAC) and the customer lifetime value (CLV), which at times can be difficult to understand and quantify.
  • the hotel website reflects and emphasizes the hotel’s image and competitive edge
  • OTAs can boost occupancy in need periods and help diversify a hotel’s client base by introducing guests that otherwise might not have considered staying at that particular hotel
  • the GDS connects hotels with consortia, which are global associations of travel agents that provide hotels primarily with major sources of corporate business.
  • A vanity domain name with an independent website that reflects the hotel’s unique personality can be an advantage for a branded hotel operator to include relevant information about their particular submarket and the property.
  • The advantage of this distribution channel is marketing exposure. If a hotel is incapable of filling certain days using other channels, even higher-cost OTAs would be considered a benefit.
  • GDS provide pricing, availability, and reservation functionality to a world-wide market of consortia, who can book airline, car, hotel, and other travel arrangements for their customers.
  • It is important for hotels to ease the booking process for travel agents by including the right type of information and rates in the GDS, and by keeping hotel information current, including all attractions and points of interest that attract guests.
  • The GDS distribution channel remains an important part of the industry, and it can have a significant impact on the amount of commercial demand captured.
  • Data mining will help managers understand how many room nights are being booked and the typical season and day of the booking, which will in turn help them recognize how to maximize profit from these accounts and avoid displacing higher-rated demand.
  • GDS channel advertising opportunities are also available to increase the exposure of the hotel on the GDS
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    Hotels rely on the information that is accessed through different intermediary systems that give each property information on their customers, as well as insight on their comp set. OTAs play a key role in assisting properties generate revenue, they have different processes in place such as pay per clicks or commissions involved when bookings are made through their websites. Marketing plays a key role in both OTAs and a properties direct website. Websites must be user friendly, easily accessible and have the ability to function on a mobile device. Majority of bookings are made online and and increasing amount are being made through a mobile device. Ensuring that each of these platforms creates a welcoming environment for each potential guest maximizes the chances of them booking.
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    An effective marketing strategy starts with knowing your customers and your goals. it is important to understand how to attract online shoppers, increase conversion rates, and have data mining tools to understand the customer's preferences and booking patterns to be able to develop a long-lasting relationship.OTAs and GDS remain an essential part of the industry, as they provide marketing exposure to a wider range of market segments.
dbake008

How to use QR Codes in Hotels as a Marketing or Guest Service tool, also after Covid-19 - 0 views

  • What are QR codes? QR codes (short for Quick Response Code) contain data used to point towards your hotel website or any other form of information you want to provide to your hotel guests.
  • QR Codes have taken the hospitality industry by storm, and can be seen used anywhere from restaurants menus to playing a role in sharing information about health and safety measures
  • Is it just a FAD, or will the use of QR codes stay after the COVID-19 crisis is over? How can hotel managers efficiently use QR as a communication tool as well as creating revenue generating opportunities including creative examples to use QR codes
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  • Providing a quick and easy method to access information, QR codes offer great opportunities for hotels to drive revenue, record guest preferences (read further here on smart tips to capture guests information and emails) as well improving guest experience by providing useful information to guests throughout the property.
  • The key in using QR codes comes down to added value.
  • QR codes in various ways including on: Cards in the rooms Announcements in elevators At the concierge desk and message boards in the lobby (inspiring guests with tips on where to dine or ideas for which activities to do)
  • Upon scanning the QR code, they will be diverted to the hotel website’s blog which contains the latest events, restaurant tips, attractions and activity recommendations, our favorite shops, etc. From here the guest can also navigate to any social media pages.
  • Being creative and thoughtful about the use and placement is important
  • be careful not to make it feel like a generic discount with no boundaries set to time or without a “real” discount that makes it worthwhile.
  • The benefits include: Cost saving and better for the environment with less paper waste More customizable and more frequent updates possible Higher degree of available information with “hover over” effects as a tool to have a clean design. Great for showing allergenic information for example, which usually gathers up quite the list to be able to fully show on a traditional menu.
  • Loyalty programs and call to action for downloading the Hotel App
  • ontactless payment is a hot ticket right now everywhere
  • In summary, it can be said that QR codes offer great ways especially for driving revenue and improving guest experiences. 
  •  
    This article examines all of the highlights that using a QR code for your hotel of business establishment.
sharline86

How technology is revolutionizing property management - Spacewell - 0 views

  • There are many property managers who are realizing that software can help them make their properties more profitable.
  • It is also projected to grow at a CAGR of 7.6% for nine more years, until 2028.
  • CRM modules can especially help users find customer information immediately. Since their information search time is reduced, their productivity is increased. With this, organizations can save upwards to $6 million a year, according to research by IDC.
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  • Thus, customer satisfaction levels can go up or stay at a high point, enabling the property to become more profitable.
  • With those insights, they can optimize and improve their services and make sure that tenants experience only the height of comfort.
  • Apart from that, organizations can also employ analytics to discover patterns and relationships between various aspects of the business. It is useful for forecasts, which can help the property management to be ready for any event in the future.
  • Hence, businesses can extract deeper insights and meaningful patterns. This can help them gain a competitive edge in their field since they are able to uncover new opportunities and find answers to questions.
  • A property management app can harness this and enable owners or managers to predict when leads are ready to rent, lease, or upgrade their current property. Property management software can also use analytics to personalize interactions–gearing the conversation towards tailored offers and services. With this, it is possible to win over more tenants as you show them how to provide great online customer service your way.
  • In the field of property management, this can be applied to document management, contract management, and portfolio management. You can configure workflows for those processes and ensure that everyone in your organization adheres to best practices.
  • Instead of calling or visiting the property office to lodge their requests, they can simply pull up the property mobile solution. Therein they can create service requests that is processed smoothly by the app so that your maintenance team can take care of them in order.
  • There are platforms that support the real-time monitoring of units and properties using IoT sensors. With this, there is no need for property managers to rely on other interfaces to watch the sensors’ status. Instead, they can access the data directly from the property application’s screen.
  • Additionally, IoT sensors can offer insights into the performance of spaces and buildings. Using those, the management can transform spaces to make them more likable for tenants. This way, they can attract more people and keep a steady stream of revenue.
  • These integrate innovative technologies that change the way property administration is done–shorter waiting times for both the manager and clients, better market predictions, accurate numbers and no more paper-pushing. As a result, managers can take care of their core responsibilities that include tenant screening, rent setting and collection, property maintenance, and budgeting.
  •  
    This article details some of the ways Property Management Systems are expected to grow in the next decade through CRM solutions, analytics, automation, & IoT sensors. These measures will reduce time, increase productivity, increase customer satisfaction, and most importantly generate more revenue.
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