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anonymous

The High Risk of a 'Wait and See' Approach - Big Think - 0 views

  • On the surface, taking a “wait and see” approach seems to make sense
  • In the past, when we were going through rapid change (not massive transformation like we’re seeing today), a company could use a “wait and see” approach because it was harder for competitors to develop and deploy new offerings quickly, and it was harder for established competitors to change the game or redefine completely
  • Anyone, at any time, can quickly become more relevant than you because the barriers to entry are low and the ability to scale is fast
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  • deciding to “wait and see”—can quickly put you on a path of increasing irrelevancy or a rapid demise.
  • you can see how detrimental a “wait and see” approach can be—how you’re actually missing major new opportunities for sales and growth
  • Blockbuster Video may have changed how we rent movies, but Netflix transformed it
  • This year, many forward-looking school districts across the country are moving away from textbooks and issuing tablets filled with ebooks to students
  • This is a game-changing move, and one that will save the school about $25,000 each year
  • The way you can design for mobile users, engage visitors, increase sales, track people, and improve your rankings with search engine optimization are changing so rapidly that if your site is two years old, it’s obsolet
  • In reality, a “wait and see” approach has much more risk than the action being avoided.
  • Today, new competitors can emerge rapidly, and they can even be from another part of the world. Geography is increasingly less of a hindrance
  • deciding to “wait and see”—can quickly put you on a path of increasing irrelevancy or a rapid demise.
  • We’re transforming all of these things plus more, and if you don’t initiate the transformation, someone else will.
  • To see the difference between mere change and game-changing transformation, consider these examples: Barnes & Noble may have changed bookselling by creating the super bookstore, but Amazon transformed how we buy books and so much more
  • Therefore, you have to evaluate what you’re saying “no” to in terms of potential lost opportunity, because what you could gain by saying “yes” will often outweigh the perceived risk and expense.
  • Because technology is increasing so fast and because we are in a period of rapid transformation are the exact reasons why you can no longer “wait and see” what will happen.
  •  
    This article discussed the importance of being ahead of the curve and why the 'wait and see' approach is not beneficial in most cases. If you 'wait and see' you can become irrelevant very quickly as there are many others out there, in many cases other parts of the world, making new inventions and discoveries daily. This article gave a great example where a school system implemented tables and the amount of money they saved was $25k/year. There are many benefits to staying ahead of the curve and as the article states "If you don't do it, someone else will".
  •  
    A "wait and see" approach has a higher risk than it being avoided. One of the cons is that it can pave the way to a company no longer being relevant. New opportunities for sales and growth may be missed if a company does not begin to evolve quickly.
anonymous

The high risk of "wait and see" by Daniel Burrus - 1 views

  • The high risk of “wait and see”
  • On the surface, it makes so much sense, doesn’t it? After all, we’re dealing with a national and global economy filled with uncertainties … right?
  • Wait and see certainly seems less risky than sticking our necks out. Right? Wrong.
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  • To wait is too late
  • These days, a wait-and-see strategy carries more risk than the action it postpones. Sometimes, a lot more risk.
  • Motorola, Kodak, and Polaroid all played wait and see with the shift from analog to digital. Blockbuster played wait and see with the move to online video.
  • In the past, you could afford to wait and see. It was harder for competitors to develop and deploy new offerings fast. There was time to watch new developments and then react. It was harder for newcomers, let alone established players, to completely change the game overnight.
  • Today we’re in a time of light-speed transformation. Today, new competitors can emerge rapidly, even from completely different parts of the globe. The barriers to entry are absurdly low.
  • Understand:  transformation is vastly different from mere change.
  • “Wait and see” is often rooted in budget concerns. Let’s say someone suggests your company redesign its website. You shoot down the suggestion:  “No, we already have a website that works just fine.” Designing a new site would costs money, while playing wait and see avoid that new expense … right? Not necessarily.
  • Stop waiting, start doing
  • How can we reinvent retail?” They embraced a transformational mindset to redefine retail and extend their brand.
  • In a world filled with uncertainty, it’s easy to fall into a wait and see mindset. But saying “Not now” bears a cost just as high as saying “Let’s do it!” – if not higher. Remember this:  If you don’t do it, someone else will. They’re doing it right now!
pattyjoe10

6 Lesser Known Uses of Beacons in Restaurants | News | Hospitality Magazine (HT) - 1 views

  • allowing customers to order ahead
    • pattyjoe10
       
      Beacons allow customers to order-ahead of time. It attracts a different clientele and allows us to gain others because of a shorter or no waiting time. Like an express line. But they have to make sure the order is left ready by the time customers arrive.
  • consumers today value personalized, contextual mobile engagement, built around their current location, interests and buying preferences.
  • 80% of consumers prefer receiving personalized, context-aware branded content through their mobile app.
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  • Therefore, it is highly likely that, merging mobile marketing efforts with iBeacon technology could result in higher click-through, quicker conversion, more sales and greater loyalty.
    • pattyjoe10
       
      Technology has taken a huge toll on society and business now a day. If our business is keeping itself updated with technology, could mean we are at the top of our game. 
  • Q app
  • busy a restaurant is at a particular time
  • real-time information
    • pattyjoe10
       
      Beacons also allow customers to know exactly how much people are at that exact time at the restaurant or business, and thus waiting time, if any.
  • not overwhelm users with notifications
  • deep understanding of the value offered to customers and deliver it in the best way possible.
    • pattyjoe10
       
      I believe this is one of the most challenging for businesses. Customers (as myself) hate when we get attacked by too much notifications.  If it were useful in anyway or if it called my attention every now and then, buy companies apparently don't pay attention to how customers may feel.  It is very important to use the access wisely and give out information customers really want. Offer what they are looking for, by personalizing.
  • delivering personalized deals and messages
    • pattyjoe10
       
      Attract customers by promoting events or special offers. People like a place they can see as happy and fun. Also, who doesn't like discounts.
  • prevent boredom
  • offer customized discounts for first-time customers, encouraging them to come back often
    • pattyjoe10
       
      I believe this is one of the best efforts to retain and gain customers. Reward the customer who passes by every now and then, with personalized dishes; and reward  first time customers by attracting them with discounts specifically for them.
  • deliver custom menus to valued customers based on previous orders and visit history
  • awarding crawlers
  • ollect massive amounts of untapped data
    • pattyjoe10
       
      Another must. Keep track of everything to better improve employee wages and specifics of customers that are out-and-about.
  •  
    Technology has taken a huge toll on society and business now a day. If our business is keeping itself updated with technology, could mean we are at the top of our game. This article briefly  demonstrates how Beacons can help improve your business by providing how, when and where are customers behaving. For example, Beacons allow customers to order-ahead of time. It attracts a different clientele and allows us to gain others because of a shorter or no waiting time. Like an express line. But  it may become a challenge if the business doesn't know how to ensure a time-effective preparation before customers arrive. Beacons also allow customers to know exactly how much people are at that exact time at the restaurant or business, and thus waiting time, if any. Another advantage would be "push-customized notifications". I believe this is one of the most challenging for businesses. Customers (as myself) hate when we get attacked by too much notifications.  If it were useful in any way or if it called my attention every now and then, but companies apparently don't pay attention to how customers may feel.  It is very important to use the access wisely and give out information customers really want. Offer what they are looking for, by personalizing. It also helps to attract customers by promoting events or special offers and notifying via beacons. People like a place they can see as happy and fun. Also, who doesn't like discounts? A fifth advantage, and as I believe to be one of the best ways to retain and gain customers, is to reward the customer who passes by every now and then, with personalized dishes, and reward first time customers by attracting them with discounts specifically for them. And finally, another must consider, is that beacons help keep track of everything (all happening at a specific given time) to better improve employee wages and specifics of customers that are out-and-about.
  •  
    Technology has taken a huge toll on society and business now a day. If our business is keeping itself updated with technology, could mean we are at the top of our game. This article briefly demonstrates how Beacons can help improve your business by providing how, when and where are customers behaving. For example, Beacons allow customers to order-ahead of time. It attracts a different clientele and allows us to gain others because of a shorter or no waiting time. Like an express line. But it may become a challenge if the business doesn't know how to ensure a time-effective preparation before customers arrive. Beacons also allow customers to know exactly how much people are at that exact time at the restaurant or business, and thus waiting time, if any. Another advantage would be "push-customized notifications". I believe this is one of the most challenging for businesses. Customers (as myself) hate when we get attacked by too much notifications. If it were useful in any way or if it called my attention every now and then, but companies apparently don't pay attention to how customers may feel. It is very important to use the access wisely and give out information customers really want. Offer what they are looking for, by personalizing. It also helps to attract customers by promoting events or special offers and notifying via beacons. People like a place they can see as happy and fun. Also, who doesn't like discounts? A fifth advantage, and as I believe to be one of the best ways to retain and gain customers, is to reward the customer who passes by every now and then, with personalized dishes, and reward first time customers by attracting them with discounts specifically for them. And finally, another must consider, is that beacons help keep track of everything (all happening at a specific given time) to better improve employee wages and specifics of customers that are out-and-about.
  •  
    Creative and a bit scary application of existing technologies. Much like Facebook Messenger, when do we cross the line between convenience and forfeiture of privacy? As part of the industry, the responsibility falls to us to manage the line in favor of our guests. They will know when it has become too much, and we will know very soon after when business evaporates. Provide friendly, targeted service without being too invasive. Remembering orders and having them ready on time is fine. Sending a pop-up message every time the guest passes by in a cab may be a bit much. Consider how many Starbucks messages you could receive in any major metropolitan area. Without proper care, we could be giving a whole new meaning to the word Spam.
Jessica Rodriguez

The High Risk of a 'Wait and See' Approach | Big Think - 1 views

  • seems less risky.
  • In reality, a “wait and see” approach has much more risk than the action being avoided
  • Today, new competitors can emerge rapidly, and they can even be from another part of the world.
  • ...12 more annotations...
  • Geography is increasingly less of a hindrance.
  • eography is increasingly less of a hindranc
  • if you don’t initiate the transformation, someone else will.
  • transformation
  • transformed
  • transformed
  • transformed
  • transformed
  • For example, suppose someone suggests that your company have its
  • website redesigned. You may immediately shoot down the suggestion and say, “No. We’re not investing in that. We already have a website that works just fine.” It seems that the expense of creating the new website comes when you say “yes.” It’s less expensive to “wait and see.”
  • Because technology is increasing so fast and because we are in a period of rapid transformation are the exact reasons why you can no longer “wait and see” what will happen.
  • If you don’t do it, someone else will.
  •  
    This article summarizes the "wait and see" approach and explains why this approach is no longer effective in the business world today. Technology is far too advanced for competitors to not have the ability to hop onto new ideas as soon as possible. Waiting and seeing will put your business incredibly behind since guests will begin to use those companies who have been using the newer approaches first.
tjcamino

15 Benefits of Having Digital Menu Boards in Your Restaurant - 0 views

  • While the core focus of a restaurant might be to serve delicious food, what missed out is the paper menus and restaurant chalkboard on which restaurant invest lot of time and mon.
  • 1. Digital Menu Display Makes Communication Easier
  • It gives you better control over what you want to highlight on your menu which indirectly influences the choices of order of a customer.
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  • use videos or animations that catches more attention and also makes the communication much easier
  • grab user’s attention with videos and animations
  • pdate can be made in a matter of seconds and whenever you want to.
  • 3. Sound Investment Saving Money
  • convenience with an added benefit of cost savings. Since you don’t have to print new menus or promotional material regularly
  • 4. Digital Display Create a More Memorable Experience
  • The right mix of graphics and videos can keep customers entertained
  • enhance the overall customer experience.
  • 5. Better Visibility of Menu
  • 2. Save Time by Easy to update Digital Display
  • ye pleasing than the regular paper
  • 6. 24/7 Support
  • Many restaurants have started opting for 24/7 menus which create an impression on passersby too
  • 7. Boost Sale up to 21-23%
  • said to have boost up sales by 21-23%
  • You can change menu items, prices, and promote specials without having to invest anything more to have your menus changed
  • 8. Promote and Upsell Your New Items
  • sell and promote your newly introduced items on the menu.
  • 13. Reduce Wait Time
  • Moreover a restaurant can use several other things like display fun facts or display promotional material to distract the waiting customers and get them less frustrated.
  • 14. Meet Health Care Regulations
  • display calorie counts next to each menu item.
  •  
    Week 4 Article Summary 15 Benefits of Having Digital Menu Boards in Your Restaurant. This article discusses the positive ways in having a digital menus and explains the benefit it has on the restaurant. The focus of the restaurant should be more on the quality of food being served. Even though there are a lot of restaurant that give you an experience like no other but if the food is not top quality it will be hard to bring customers back. Having this type of digital menus could enhance the guest experience while helping the restaurant increase revenues. Here are ten of the top fifteen positives reasons of having a digital menu boards. 1) Digital menu displays will make communication easier. This starts form the customer directly to the kitchen. It will also allow the establishment to display videos and animations that will catch the eyes of the customers and could highlight specific menu items. 2) Saves time by easy updates on display. The software will allow the restaurant to update the menu very easy. You could add and take away dishes without having to print all new menus. It will also allow you 86 items that are sold out at any time during the shift. 3) Sound Investment of saving money. With the system allowing you to change menus, it will save money because you won't have to pay to print new menus every time you want revise it. 4) Digital displays create a more memorable experience. With having a digital screen, it will allow the customer to stay entertained by having a right mix of graphic videos and allowing them to keep them occupied during down times. 5) Better Visibility of menu. The display on the tablet will allow the guest to see a nice HD screen with colors that will make it easy to see and read. 6) 24/7 support. No matter what time of day, there will be support for mangers to trouble shoot any issues that might be happing at time. 7) Boost sales up to 21-23%. It has been said that having an emenu will increase revenues by allowing the establ
khadija2050

50 Facilities Management Tips and Best Practices - Camcode - 0 views

  • Cut night site lighting. “Depending upon how your site lighting is operated and circuited, you can create an ‘economize mode’ for overnight when the site is at its lowest occupancy. Keep perimeter site lighting on around your property and all entrances and main drives lit.
  •  Replace older lighting with LEDs. “Memorial Sloan-Kettering Cancer Center chose LEDs to replace existing lighting in a parking garage open 24/7, halving the garage’s power consumption. Meanwhile, Mediapolis Community Schools in Mediapolis, IA, also embarked on a retrofit of LED exterior lighting.
  • Implement a sustainable facility design plan. “Sustainable design is more attainable and affordable than it’s ever been, especially when you think in terms of years instead of days and weeks. It’s also worth noting that sustainable design is very well favored among the public, which is an extra incentive for companies interested in reinforcing their reputation as socially responsible and environmentally concerned
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  • Know the total cost of all facility work done both directly and indirectly. “To the untrained eye, the facilities maintenance arm of a business appears to be a black hole of cost. The costs of these FM services add up, and unless discrepancies arise, that is where most of the business analysis ends. However, facilities maintenance managers, who are privy to all of the nuances that make up eac
  • h work order, understand the complexities and overhead involved in this sector of business.
  • Consider less obvious improvements that impact facility energy use. “Some energy-related projects will be more or less hidden from the users and primarily pursued to reduce energy demand, such as chiller and fan-unit upgrades. Such projects may end up providing the building users with better temperature control, but this is not the primary goal of the upgrade
  • Operational changes such as reducing the hours of HVAC and lighting operation, and changing setback temperatures, which require very little expenditure (if any at all) do not directly affect user experience, but can produce large reductions in electricity loads. In general, working with the building operations team to reduce energy use can produce impressive reductions in loa
  • his allows building and facility management professionals to determine whether the cost to improve a particular element of a building or a system in it against the cost savings over the same period. If the cost of an upgrade over its lifetime offers an advantage over the building operational costs it will save, then it’s generally considered a good investmen
  • “Finding the right suppliers to maintain your facilities can be difficult and time-consuming. From janitorial services, to groundskeeping and maintenance supplies, ensuring suppliers are providing apples-to-apples quotes, developing contracts with clear service levels, and validating that supplier quality
  • “Boilers today can reach efficiencies of up to 96 percent using condensing technology; however, a typical building, including new buildings, uses atmospheric type boilers which, for all intents and purposes, are only slightly more advanced than a science lab Bunsen burner. This technology is reliable and it works, but it is expensive to operate
  • An energy audit systematically identifies and develops opportunities to help reduce energy use in an institutional or commercial facility and, as a result, decrease building operating costs. Focusing the audit is imperative for maintenance and engineering managers.
  • “Commercial kitchens are high energy users, consuming roughly 2.5 times more energy per square foot than any other commercial space, according to the US Environmental Protection Agency (EPA).  Of that, as little as 40% is used in the preparation and storage of food, says the UK’s Carbon Trust; much of the wasted energy is dispersed into the kitchen.
  • All commercial buildings are insulated; building codes make it mandatory to insulate up to  a certain level. Unfortunately, because most buildings are put up under strict guidance to budgets, they are usually put up with only the minimal amount of insulation
  • Develop performance measures for your PM process with an emphasis on measuring the amount of PM that is work completed compared to all other work. Total PM hours should be the highest percentage of all the department’s maintenance work. This goal might seem impossible, but over time, it is very achievable
  • “Preventative maintenance is all about planning, plain and simple. Every piece of equipment or machinery at your disposal or under your care should have a schedule of what type of maintenance it requires and when it requires that check-up.
  • “Failure modes are defined as “how something fails.” Let’s use a flat/membrane roof to show an example of what a failure mode is. On a flat/membrane roof, one failure mode may be “penetration of roof membrane,” and the causes of this failure mode could be many. Knowing the failure mode(s) of a specific maintainable item such as a membrane roof and its causes can be key to early detection of roof failure (not meeting the intent of the end user) so the repair can be made before it affects an operatio
  • “Catch small problems now before they become big ones. Addressing small details can add up to huge improvements in appearance and functionality. Ask your facilities services provider, janitorial company
  • You may schedule preventive maintenance based on meter readings on an equipment. However, equipment meters usually do not differentiate between work time and idle time
  • Greasing the rack and pinion of a beam saw, for instance, can cause grease and saw dust to solidify inside the gears over time, eventually preventing them from moving. If you’re unsure which tasks are beneficial to each piece of equipment, ask your equipment representative.”
  • Having spare parts and supplies around the time of a major preventive maintenance schedule is absolutely critical. Asset management software allows you to check the availability of the spare parts for dates when the work orders are due. This report can help you identify parts that are insufficient for the required work orders in the future. If you know which parts you are falling short on, you can order them in advance from suppliers rather than waiting till re-order limits are reached
  • “Appropriate repetition and reinforcement are necessary. The average person is bombarded with more than 300 messages while at work, and multiples of that outside of work, Finney says. Getting a message to land with an audience might take as many as 12 repetitions, in some cases, he says
  • Let’s get together: when you’re designing your facilities, design social spaces for your employees. These might be lunch or break rooms, games rooms, gyms, or even community gardens.
  • While other managers may work to manage clients or staff, your job is to manage facilities and all that occurs in them. Your corporation’s physical assets are just as important as your human resources, and you are the expert in this field. Whether it’s collating data or contributing to the organization’s bottom line, your input is a valuable part of corporate decision-making
  •  “Workplace inclusion has to be clearly defined before any initiatives can be pushed forward. One useful definition of an inclusive office is a workplace in which all staff are treated with respect and have equal access to resources and opportunities. Facility managers should build on this high-level description to create an idea of what concepts like equal access, diversity and fairness look like in their own facilities
  • Space costs money. Knowing that we are moving towards a working environment consisting of virtual or mobile workers, investing time in developing new workplace designs that can suit these new ways of working while increasing space utilization rates can result in impressive cost savings
  • Performing facility maintenance and engineering tasks is like sailing among icebergs. What technicians can’t see will sink them — or their facilities. Thermal imaging technology gives technicians the ability to see the unseen, making it easier to spot failing motors and electrical components,
  • This concept is broadly used to describe our attempt to formally identify in-house talent in many of our labor shops. We identify talent through a competitive selection process based on potential vs. skills and promote our selected personnel to the worker and helper level while training them to achieve appropriate full mechanic level with associated certifications/licenses
  • This directly leads to the client receiving a more fit-for-purpose solution and ultimately receiving greater value which grows a greater relationship.
  • In other words, there has to be a compelling reason based on our mission for why we would submit budgets for anything.” By presenting specific information on how and why you’ve chosen your budget numbers, you can help the C-suite see that your budget is well within reason
  • When you automate the work order process, you remove human error associated with it. Essentially, you’re taking the people out of the process and ensuring nothing gets missed or overlooked
  • “There are many different software options out there than can aid FMs in organizing and streamlining their everyday tasks. This ranges from software designed to help manage all maintenance activities to logging and tracking facility visitors for security purposes. 
  • uch smart sensors, operating costs are dramatically reduced, productivity is enhanced, and occupants’ comfort is improved.
  • “One of the most exciting features of Facilities Management software is the ability to manage heating and cooling remotely, or set a programmable thermostat to move set temperatures up or down throughout the day. Facilities planners love the ability to analyze and explore energy use from heating and cooling systems
  • “Maintenance and facilities administration systems must frequently abide by national and global regulatory requirements. All maintenance administrators face occasional random or audits inspections by regulatory authorities. Maintenance software enables you to prove regulatory conformity and decrease the amount of paperwork and preparation that is needed for an audit.
  • KPIs allude to opportunities and errors in your company. Paired with the Internet of Things (IoT) and energy management systems, KPIs can be used to highlight missed maintenance tasks, greater traffic area of your business or problems with machinery
  • “Closely monitoring energy and water use to reduce building-operating costs is another benefit. By allowing owners to monitor and analyze the performance of multiple systems—air-conditioning levels, lights on automatic dimmers, water usage
  • “A feature that’s gaining a lot of ground is using facial recognition technology to let people in and out of the building. It’s more secure than key fobs or cards, and unlike cards and fobs, you can’t forget your face at home. It’s like batting a triple, or killing three birds with one stone
  • You cannot do your job properly without the correct information. If you don’t have proper records on the state of your facilities, you can’t do your job as a facilities manager.
  • “A surprising number of facilities managers have no true system in place for managing their space.  More than a quarter of everyone interviewed – 28 percent –
  • . It may help significantly with compliance with various industry standards, such as HIPAA in the healthcare industry and Sarbanes-Oxley in the financial field. It can help to document best practices for avoiding accidents, or in the worst case scenario,
  • This method identifies how critical a piece of equipment or maintenance task is to your business and will ultimately show you where it should land in your prioritization process
  • Smartsheet is a spreadsheet that you share with your co-workers, but its features go far beyond Excel. This tool combines the traditional spreadsheet with project management tools, templates, and forms and allows you and your colleagues to access spreadsheets on mobile devices and work on them collaboratively
  • The business world is increasingly embracing a larger remote workforce. Offices are used as areas to collaborate, develop, and design new ideas. The day-to-day work can be, and often is, done from home
  • “Another possibility for cutting costs, say experts, is not just moving staff around, but moving work around also. This means carefully examining all outsourcing contracts to see if they can be scaled back and the work completed by in-house staff
  • “Verify assets from a minimum of two data points, such as the barcode and the item’s serial number.
  • After collecting data and developing a maintenance schedule for your assets, you need to plan for the long-term maintenance of your asset inventory
  • However good asset management and maintenance planning is, there comes a time when an asset reaches the end of its useful life and should be disposed of.
  • “If you’re trying to get a handle of your documents, the first thing you should do is an asset assessment. Detail the condition of all the main equipment and systems, and document those conditions
  • Strategic asset management integrates key relationships between planning and delivery activities.
  • Maximize your use of vertical cubic footage by placing seasonal products or those that move less frequently in harder-to-reach vertical storage areas
  •  
    the article highlights how companies can benefit from sustainable design and gives tips on preventive maintenance
kenziemoody

Technology in the Hospitality Industry - Have We Gone Too Far? | By Court Williams &amp... - 3 views

  • The hospitality industry is changing, and is rapidly becoming super high-tech.
    • kaylaabad
       
      The hospitality industry is changing, and is rapidly becoming super high-tech.
  • On arrival at their destination, guests no longer need to wait in line for the key to their room. They can now check in and out using electronic kiosks, online and mobile check-ins. Automated payments and the use of smartphones for keyless entry, making requests, online purchases, or even placing room service orders makes self-service an attractive option.
    • kaylaabad
       
      Arrival technology - On arrival at their destination, guests no longer need to wait in line for the key to their room. They can now check in and out using electronic kiosks, online and mobile check-ins. Automated payments and the use of smartphones for keyless entry, making requests, online purchases, or even placing room service orders makes self-service an attractive option.
  • With the advent of technology, however, many activities previously performed by live humans have been replaced by automated methods, mainly in the attempt to streamline functionality and improve service
    • kaylaabad
       
      With the advent of technology, however, many activities previously performed by live humans have been replaced by automated methods, mainly in the attempt to streamline functionality and improve service
  • ...23 more annotations...
  • With the rising popularity of online reviews, hospitality guests now have the ability to research any venue to see what others have posted.
    • kaylaabad
       
      Pro:With the rising popularity of online reviews, hospitality guests now have the ability to research any venue to see what others have posted.
  • Both review websites and social media platforms have become active gateways to global opinion, and travelers use these extensively to help them decide where to book
    • kaylaabad
       
      Pro:Both review websites and social media platforms have become active gateways to global opinion, and travelers use these extensively to help them decide where to book
  • Technology is shaping how lodgings and restaurants are found and booked
    • kaylaabad
       
      Technology is shaping how lodgings and restaurants are found and booked
  • Improving a guest's experience depends on the ability to identify the individual guest's preferences. The best way to determine these is by collecting data from first-, second- and third-party sources, combining and analyzing it effectively.
    • kaylaabad
       
      Data has enhanced guest experience: Improving a guest's experience depends on the ability to identify the individual guest's preferences. The best way to determine these is by collecting data from first-, second- and third-party sources, combining and analyzing it effectively.
  • Theoretically, it should improve the customer experience, particularly through the use of data collected by using the various technologies
    • kaylaabad
       
      Theoretically, it should improve the customer experience, particularly through the use of data collected by using the various technologies
  • We have also seen the emergence of cost-saving technologies that not only focus on guest loyalty but also reduce fixed costs and overheads.
    • kaylaabad
       
      Pro: We have also seen the emergence of cost-saving technologies that not only focus on guest loyalty but also reduce fixed costs and overheads.
  • statistics that show an undoubtedly positive response to technology,
    • kaylaabad
       
      Technology in the industry is well received
  • Biometric authentication offers the most secure method of proving identity that's currently available, and the hospitality industry has been quick to realize the need for this level of safety.
    • kaylaabad
       
      Technology has improved security: Biometric authentication offers the most secure method of proving identity that's currently available, and the hospitality industry has been quick to realize the need for this level of safety.
  • guests can now control all the functions of the room from a single device
    • kaylaabad
       
      Pro: guests can now control all the functions of the room from a single device
  • two-thirds of U.S. hotel guest respondents felt it was either "extremely important" or "very important" for hotels to continue investing in technology to enhance the guest experience.
    • kaylaabad
       
      two-thirds of U.S. hotel guest respondents felt it was either "extremely important" or "very important" for hotels to continue investing in technology to enhance the guest experience.
  • it seems travelers of all ages are keen to make the most of online hotel reservations and reviews
  • hey understand the need for (and value of) using technology to support the guest experience, and although they are rapidly embracing many aspects of this brave new world, they still need to be able to consult with a human being if required.
    • kaylaabad
       
      They appreciate t hey understand the need for (and value of) using technology to support the guest experience, and although they are rapidly embracing many aspects of this brave new world, they still need to be able to consult with a human being if required.
  • it seems travelers of all ages are keen to make the most of online hotel reservations and reviews
    • kaylaabad
       
      it seems travelers of all ages are keen to make the most of online hotel reservations and reviews
  • he experience is now facilitated by technological factors,
    • cleon087
       
      The key word is facilitates, I think that technology has enhanced experience but should never replace the hospitality warm feeling aspect.
  • Baby Boomers who look set to remain the most prolific travelers for the next two to three years, and see if the numbers support the theory that technology has improved the hospitality experience.
    • cleon087
       
      I think that technology is becoming a necessity in the hospitality industry. There is a need to be up to date. Especially if you want to attract the new generation of travelers.
  • But is it really an improvement, or has the industry gone too far? Do these changes enhance the guest's experience, or have we forfeited the true meaning of the word "hospitality" in the process?
    • cleon087
       
      I think that the industry is just simply evolving with the times.
  • how much is it taking away from the guest's personal experience?
  • shows the reviews for companies in the hospitality industry are considered 48% more important and valuable than in other industries, which indicates the target audience takes online reviews exceptionally seriously
    • cleon087
       
      I think that this just leads to different opportunities. Now you can show off on your social media how great your hotel is and its advantages. The only negative is how easily someone can write a negative review that might not even be true.
  • from notifications about special deals to managing their loyalty program account.
    • cleon087
       
      Investing in a well designed app for your company is crucial now.
  • The benefits of automation will soon become crystal clear.
    • cleon087
       
      This just helps improve the service and you will still need someone at the front desk.
  • Guests can stream SHOWTIME shows for free through the app, without needing to input credentials or create a subscription. Anyone who prefers not to download the app can operate the same controls using a simplified, in-room remote device.
    • cleon087
       
      I feel like this just enhances the experience and makes it more personal.
  • These have taken off extensively, with research showing one half of millennials, 26% of Gen Xers and 12% of Baby Boomers consider themselves "travel hackers," which means they believe they know all the best ways to use technology for good deals. Chatbots on booking websites enable the user to ask questions without even getting up from the sofa.
    • cleon087
       
      People are spending more time looking for the perfect hotel and for the best price. I know I do this whenever I travel and most of the time becoming a member for something like the Marriott, will end up being the best deal.
  • e, for example, the system can automatically send the conference itinerary and a map of the meeting spaces to his or her device.
  •  
    The Hospitality industry have been greatly impacted over the years by the advancements made in technology. Customers have everything assessable by the click of a button or utilization of an app. Various software is being created to provide for quick and easy service but in turn takes away from the personal experiences.
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  •  
    "All of this indicates that while a hotel offering a truly connected experience is likely to be full of very happy, empowered guests, we can't quite replace the human touch completely just yet." Though technology is taking over the industry, it is important that we not lose or completely replace the humanity of the industry. While technology has enhanced the employee experience and guests do appreciate it, they also like to know that they have a human waiting for them should they have any issues. All in all, technology has improved the industry by enabling a more personalized and empowering experience and increasing the safety of the guests and employees.
  •  
    This article is about the new advances in technology and investing whether it has been taken too far. It analyzes the new advancements such as apps where reservations are made. These new technologies have been made to enhance experience but not replace the warm feeling that hospitality gives you. The article concludes that we haven't taken it too far, instead it has made guest experience better. Especially when it comes to checking in, and not having to wait a huge line when you just want to get to your room.
  •  
    As we learned this week, technology is impacting the hospitality industry. As the article states- "improving a guest's experience depends on the ability to identify the individual guest's preferences." This reminded me of the Smart Bar video we watched this week. Technology can enhance the quality of experience. However, depending on the businness/ company- most people would be unwilling to put a an investment into tech unless they see a significant uptake from the technology. Even though technology plays a major role in the industry, it has not completely took over human interaction.
kmira026

Why You Should Take a 'Wait-and-See' Approach to New-Product Launches - 0 views

  • While most inventors would love to create something completely new, that's not always necessary. Often, it's enough -- and a brilliant marketing tactic, even -- to imitate your rivals and then add a few tweaks.
  • Pandora used imitation and a delayed launch to woo paid streaming-service users with the promise of a more personalized experience.
  • Instead of being first to the marketplace, being last may actually present more opportunities and stability.
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  • Regardless of the solution they eventually offer, entrepreneurs who hang back can avoid early fatal flaws that interrupt fantastic consumer experiences.
  • Poor marketing, uber-techiness and overspending.
  • 1. Watch, look and listen.
  • 2. Use negative sentiment to your advantage.
  • Capitalize on negative press swirling around your competition by waiting to release a similar product.
  • While we love a story of bold innovation, innovation doesn't always keep the lights on. Sometimes, it's far wiser to come in second or third where the spotlight is less blinding -- there, you can see where you're going.
  • 3. Differentiate yourself through great execution.
  • As you read through social media posts and dig into articles on your competition's products, figure out where things went awry. Make sure you don't stumble over the same roadblocks.
  • Apple has merely found a smoother path to streamline a service people want and already use
  • Lyft and Uber have been entangled in a fight like this for a while.
  • When President Donald Trump's travel ban rather circuitously led to #DeleteUber momentum, Lyft took advantage of the opportunity to outshine its rival. Not only did Lyft donate to the American Civil Liberties Union, but it has also enjoyed a 7 percent increase in customers since January 29. Lyft wasn't hasty, and it swung with the popular sentiment pendulum.
  • You might think you have a revolutionary product, but what if the market disagrees? If your top competitor just released a similar product and its sales are flailing, you owe it to yourself to analyze what's happening. Could it be that the market for your product just doesn't exist yet? If so, how can you pivot so you can produce an actual game-changer, not a wannabe?Segway knows all about this challenge: It discovered its product's market was limited by cost and individual desire. By the time it was put to bed, it was no longer a technological marvel -- it was just a punchline. Chances are good that leaders of a company waiting to market a Segway-like creation put plans on hold when they saw the fallout and chose to execute their innovations differently.4. Do the common uncommonly well.
  • leapfrogged over the issues plaguing its competitors, solidifying itself as a smarter, less-glitchy solution for music lovers, thanks in part to what it's calling the Music Genome Project.
    • kmira026
       
      benefit of wait and see approach
  •  
    This article goes into being patient when it comes to launching a new or similar product. Many companies try to be a trendsetter but sometimes taking the backseat is much beneficial. Startup and trial and error runs are ultimately decreased. Reviewing the feedback of others on social media outlets can help make sure you don't stumble over the same issues.
  •  
    This article explains why a wait & see approach is sometimes the best approach for some companies before launching a product in a very competitive market which already has a company providing the same product to consumers. Many companies have waited to see what issues consumers are complaining about when their competitors have launched a product to later launch a better product better than that if the competitors. Such companies are Pandora versus Apple Music, Lyft versus Uber, Apple Cash versus Venmo, QuickPay, and Square Cash.
swhit133

The High Risk of a 'Wait and See' Approach - 0 views

n reality, a "wait and see" approach has much more risk than the action being avoided. Here's why. In the past, when we were going through rapid change (not massive transformation like we're seeing...

https:__bigthink.com_flash-foresight_the-high-risk-of-a-wait-and-see-approach

started by swhit133 on 16 Oct 18 no follow-up yet
anonymous

Future of Global Distribution for Airline Travel - 1 views

  • Imagine if every airline used a separate reservation system to distribute flight information, instead of the familiar global distribution systems (GDS) in place now
  • As travel professionals are aware, Southwest Airlines are not available in most systems for booking reservations. However, they do not negotiate with distribution companies to sell their product.
  • Then travel companies would be charged to have the Direct Connect system in the long run, thus paying for the opportunity to sell American flights.
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  • American suggests that distribution companies begin using Direct Connect, powered by Farelogix. Travel professionals view this alternative concept as having to use a separate system for American Airlines reservations, possibly complimentary on a trial basis to the travel management company.
  • This may be the biggest travel industry news in the United States and beyond, since the deletion of travel agency commissions. There is also the possibility that more consumers will begin relying on travel agents to locate the best airfares.
  • They suggest it will make ancillary fees, such as priority seat and meal fees easier to track for business travel.
  • Imagine if every airline used a separate reservation system to distribute flight information, instead of the familiar global distribution systems (GDS) in place now. Individuals and travel professionals would have to compare flight costs on every reservation website or call each airline separately.
  • If every airline decides to utilize a different system and charge for their product to be sold, then travel companies may have to forward their costs to travelers, hence driving up the price of airfares.
  • American Airlines airfares can no longer be found on Expedia or Orbitz websites, or any site powered by Orbitz. These are two of many airline distribution sites that consumers can compare and book flights they choose. Each did not come to an agreement with American Airlines for a new contract to distribute American Airlines' product.
  • The contracts for the global distribution systems, Worldspan and Sabre, will be up for renewal soon this year. What will happen with American flights and air fares in those systems? Will American not be offered in those systems as well, if an agreement cannot be made? What happens if other airlines decide to join with American? This may be the biggest travel industry news in the United States and beyond, since the deletion of travel agency commissions.
  • Though this is a major obstacle for travel agencies and other travel management companies, travel agencies, being fearful of the outcome for consumers, are ready to stand their ground and protect themselves and consumers alike.
  • As travel professionals are aware, Southwest Airlines are not available in most systems for booking reservations. However, they do not negotiate with distribution companies to sell their product. For the most part, Southwest is self-contained and stands on their own, as far as distribution methods go.
  • As travel professionals are aware, Southwest Airlines are not available in most systems for booking reservations. However, they do not negotiate with distribution companies to sell their product. For the most part, Southwest is self-contained and stands on their own, as far as distribution methods go.
  •  
    It appears that American Airline is about to remove itself from the tradition global distribution system and introduce its own distribution system. American Airlines is advocating for distribution companies to utilize AA direct connect which is a direct link into AA's host reservations system. Currently American Airlines fares are no longer available on Expedia or Orbitz sites. This is because no contractual agreement was reached for the distribution of AA products. Travel professionals are waiting to see the result of this bold move by American as this has great implication for the future of airline distribution systems. If American Airlines pulls away from the mainstream GDS, consumers and travel specialist alike will be faced with the inconvenience of going to a separate reservations system to compare fares. Although travel professionals are now urged to use direct connect on a trial basis, the general feeling is that eventually they will be charged to sell American Airline flights. To defend this move American Airline is only saying that direct connect will make it easier for them to tract ancillary fees like priority seating. It was noted in the article that Southwest Airline for the most part is a stand alone reservations system but they do not negotiate with the GDS companies to sell their flights. It is therefore quite evident that this move by American is really to reduce expenditure by eliminating the middle GDS companies while increasing revenue by charging travel partners for utilizing direct connect. American Airlines clearly wants to globally control their distribution system and maximize revenues. Contract renewal for both world span and sabre are due and the experts are waiting to see if American will renew with them. Sabre is owned by American Airlines so its a wait and see game to see how all this will be panned out. The real problem for the consumers and travel specialists are that if other airlines are to follow this move by American the tra
  • ...2 more comments...
  •  
    Global distribution systems (GDS) are used within the travel industry for the booking of flights a service that was once performed by travel agents. With the introduction of GDS many jobs were loss. Because GDS are contracted services with World- span and Sabre renewal and renegotiation of contracts may pose a problem. There are many pros and cons to the GDS for consumers such as booking of flights anytime and the loss of personal relations with the travel agents. According to Bonnie Burgess, the renewal of the GDS with world-span and Sabre is eminent which might create a problem for consumes if the negotiation falls apart. There was a similar situation Direct TV and the provider of many channels to Direct TV when they could not come an agreement, and, in the final analysis the consumers were the ones who suffered. Southwest and American airlines are two airlines who defended why they felt that booking directly at the website is the best options for travelers. The conclusion, is that there are advantages and disadvantages to the GDS. one of the overarching disadvantage is when there are difficulties with meeting of the minds in contractual negotiations.
  •  
    The article highlighted reports how hard would be for travel agents to work without and Global Distribution System due to difficulty to generate price comparison reports to customers. It is also mentioned that American Airlines Airfares are no longer posted to the two majot websites for price comparison (Expedia and Orbitz). American Airlines will be using another website called Direct Connect which will be complimentary on a trial basis. In order to have full access, customers or travel agents would have pay for a membership. The process will have a higher cost and will be more time consuming. Southwest Airlines is acting the same way. The intention is to avoid comparison and encourage direct booking with the airlines. This difficulties presented by hotels and airlines may require more usage of a travel agent to do research for consumers. GDS's contracts are up for renewal and the concern is whether or not airlines will get into an agreement where rates will still be posted on the system avoiding several searches in multiple sources.
  •  
    This article explains the distribution route American Airlines is taking to sell their flights. Due to not seeing eye to eye with the two most probably used websites for travel, Expedia and Orbitz, American has now taken their products away from both airline distribution sites. American suggest that all travel agencies and distribution companies begin using Direct Connect, which is a system for only American Airlines flights. If this would happen, travel agencies and companies will then begin having to pay for the system in order to sell Americans flights. At the moment you can still book flights through other distribution sites, but until when will that be? They already stopped Orbitz and Expedia, what's not to stop the others. The future of global distribution systems will be up in the air if all airlines choose to sell their own systems to be able to sell reservations. The only positive that was pointed out in this article was that if this system takes over, then more consumers will have to go back to using travel agents to secure the best reservations for flights and such.
  •  
    With the contracts for major global systems, Worldspan and Sabre, being up for renewal in the near future, this article analyses the possible outcomes for airlines, and alternatives should they choose not to forgo continuing use of GDS
anaslip

Most companies taking 'wait-and-see' approach to coronavirus | CFO Dive - 0 views

  • Most companies taking 'wait-and-see' approach to coronavirus
  • North American companies are bracing for negative business impact due to the coronavirus outbreak
  • Despite rising concern of the effect coronavirus will have on their businesses, most U.S. companies are taking a "wait-and-see" approach when it comes to adjusting their executive pay and sales compensation programs
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  • Additionally, a survey from Gartner's risk management practice found that 56% of business leaders rated themselves as "somewhat prepared," for the outbreak, with 11% relatively or very unprepared.
  • Companies are increasingly expecting that the coronavirus will adversely affect their businesses. Yet, because the exact impact of the virus is uncertain, compensation committees and executives are not making immediate changes to their organizations’ pay programs — at least for now
  • 34% of companies expected the virus to have a "moderate or large negative impact" on their business over the next six months. 44% companies say their annual executive incentive plan has been or will be affected by coronavirus, but nearly one in five intends to adjust funding or targets for the plan.
  • A recent survey by Gartner’s risk management practice aligns with Willis Towers Watson’s findings; just 12% of Gartner’s 1,500-plus respondents believe their businesses are highly prepared for the impact of coronavirus, with 26% believing it will have a negligible impact at all.
  • 56% of respondents rated themselves somewhat prepared, and 11% said they were either relatively or very unprepared
  • It’s nearly impossible to predict exactly if or how a particular scenario will unfold or even when
  •  
    This article is a perfect example of this week`s topic. It`s a good illustration of a "wait and see" approach. The article gives you a lot of numbers to support its point.
sanchezgema_

5 Technologies Hotels Should Be Investing Into For 2020 | By Andrew Metcalfe - Hospital... - 0 views

  • A recent study of 2,000 people conducted by Guestline, looked how people book their hotels and the factors involved in room cancellations. It was found that over a quarter of people take into high consideration the quality and detail of a hotel's website (such as photographs and information) before making a direct booking online1.
  • Investing money into your websites simplicity in all stages of the guest journey will help acquire traffic, increase conversion rates and drive more people to book direct. The simplicity of website use (including less re-directs) will result trustworthiness of the potential customer. Hotel management may also find reporting efficient with less redirect windows to consider.
  • An investment in secure payment gateways protects the data of hotel guests, and the hotels credibility. For example, if a guest was to see the wrong value on an invoice, they may become wary of how secure that hotel's payment system is and look elsewhere. A secure payment gateway also checks in advance whether the credit card exists and is covered which could reduce chargebacks. This way, the hotelier can make sure that the booking via the credit card is genuine and at the same time protect the guest's data.
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  • Carefully choosing the right time to upsell a guest's hotel booking is crucial to a hotels' additional revenue stream. After a booking has been made there is a fresh window of opportunity to upsell, as guests will reflect on their budget spend and perhaps feel there is room to spare on extra luxuries and see what they may be missing out on.
  • Having all the data in one system makes presenting and acting on the data much more effective. For example, Amazon don't deliver packages 100% of the time but the rest of the experience they control, making it so easy for people to buy from them. Hotel systems will need to move this way in order to provide similarly strong guest experiences." Says Andrew
  • Consumers are becoming accustomed to self-service systems as they appear across retail, leisure & transport industries. Another study, suggested that guests favour hotel self-service check-in's as it provides a faster service, results in more privacy and waiting time/lines are much shorter3. Hoteliers could consider how their core data system might be centralised as much as possible in order to make it a less complex & more efficient guest journey from booking to check in. Technology such as guest portals can be efficient for customers to retrieve their invoices quickly and will centralise all the data for the hotelier.
  • Omni channel platforms enable you to centralise operational systems, take back control of your revenue flow and transparency of guest data, so hotel management can focus on creating the best experience for customers.
  • In a recent survey of 2,654 consumers by the Travel Leaders Group, 78% of respondents said they would like to see self-service kiosks more widely available for check-in2.
  • many of these will create options to drive people to your website but also more competition. If you can show your offering more easily, make booking slick and then integrate it to an onsite experience it will encourage guests to use you for converting their search to a reservation.
  • Upselling is an important aspect of hotel revenue
  • Hotel payments have adjusted to new legislation and as the move towards a more integrated guest experience aspects through check-in and checkout, invoice retrieval march on the payment aspects will have to dovetail seamlessly and accurately.
  •  
    This article talks about the 5 technologies hotels should be investing into for 2020 in order to stay competitive. The technologies are website simplicity, upselling tech to boost profitability, secure payment systems to increase consumer confidence & credibility, self service and automated check-in, and an omni platform which centralises operations.
  •  
    Hotels are taking new major steps into tech integration as more and more developments are constantly being requested by guest and made by property owners. These I.T investments can help these properties majorly and help increase guest satisfaction. One advantage that many companies can use is it up selling aspect to help push sales. Investing in secure payment options helps with data security and gives the hotel credibility.
  •  
    -Website simplicity -Upselling technology to boost profitability -Secure payment systems to increase consumer confidence and credibility -Self service and automated check in -An omni platform which centralizes operations -In a 2,000 people study, a quarter of people take into high consideration the quality and detail of a hotel's website before making a direct booking online. -Website simplicity acquires traffic, increases conversion rates and drives more people to book direct. -Upselling can happen subsequently through nudge marketing via emails, push notifications of even on arrival at the hotel. -Investment in secure payment gateways protects the data of hotel guests and the hotels credibility. -Also checks in advance whether the credit card exists and is covered which could reduce chargebacks. -In a survey of 2,654 consumers, 78% of respondents said they would like to see self-service kiosks more widely available for check in. -Self check in is faster service, more privacy, and waiting time/lines are much shorter. -Omni channel platforms enable you to centralize operational systems, take back control of your revenue flow and transparency of guest data, so hotel management can focus on creating the best experience for customers.
Emily Bova

Wireless service: Waiters toting tablets, wine lists via Wi-F - 0 views

  • wait staff with iPods and iPads to take food orders.
  • he iPod's point-of-sale system application wirelessly sends the customer' order to the kitchen - free of illegible handwriting.
  • the retail price for his two iPads and 10 iPod Touches, plus $2,000 for the software license. He expects to recover the cost through reduced expenses on pens and paper.
  •  
    Restaurants have been turning more to high tech tools to better their services. A restaurant in Chapel Hill, NC has given its wait staff iPods and iPads to take food orders instead of writing with a pen and paper. Guests can look at photos of the dishes to help them make their decision and when the order is complete, the server can send it wirelessly to the kitchen.  This is a great way to increase customer service and overall satisfaction on both ends. It reduces wrong orders and is a green incentive as it eliminates much of the restaurant's paper use. However, it is a pricey investment to make. The restaurant owner in Chapel Hill said he expects to recover the cost in the long run through reduced expenses on paper and pens.  The wait staff reported they liked this new way of taking orders because they don't have to worry about their writing being illegible or their hand cramping up from writing so fast. It is beneficial for the customers in that it is a more interactive way for them to order and get something they have a better chance of liking since they can see photos. It also eliminates problems seeing a printed menu in dark lighting. Additionally, orders are processed right away so guests don't have to worry about their food taking a long time to come out because the server either forgot to put it in or they were running around doing other things before getting to the POS station. 
LU DENG

Benchmark Powers Expansion with Centralized Accounting Platform - 0 views

  • 3 October 2012 Benchmark Powers Expansion with Centralized Accounting Platform Management by the Numbers: Benchmark Integrates New Properties into Company Management Processes Quickly with ‘Private-Cloud’ Back Office System
  • Successful management comes from by-the-numbers decisions
  • Basing day-to-day management decisions on the numbers is another big part of successful management in today's economy. At one time, we had to wait until month end or later to see property financials. We do not have that luxury today, so we built a centralized 'private cloud' technology hub and data gathering platform. Now our managers make decisions based on month-to-date performance every morning.
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  • Benchmark uses the Internet-enabled Profitvue enterprise back office system from Aptech Computer Systems to centralize property accounting
  • Pinkham said. "For example, we use the Profitvue back office accounting system at all our properties, which include luxury resorts, hotels, and conference centers. The system is Internet-enabled, so the only back-office hardware our hotels need is a PC. The same is true for our front office systems. This is a great savings for our owners."
  • This means when we take over a new property we can quickly integrate it into Benchmark's processes. We simply bring in financial team members from our other properties. They are familiar with the system and chart and G/L. It is a simple process for them to logon to Profitvue and create a new entity. We can have the new property up and running quickly without the usual hardware and software installation, and staff training. This saves time and money, and we can turn the property around much faster.
  • Our private cloud strategy benefits our financial stakeholders, management teams, and guests," Pinkham said. "Aptech is an important part of our strategy and operations at all our properties. They understand hotel accounting and Benchmark's business process and are always ready to support our innovations."
  •  
    Having a clear understand of what makes a great hotel, resort, or conference centre and how to run it profitably is an essential part for a successful management company. Benchmark Hospitality International win the market through its day-to-day management decisions on the numbers. They built a  centralized 'private cloud' technology hub and data gathering platform based on which the managers can make decisions every morning while not wait until month end or later to see property financials. The private cloud helps to reduce its ownership costs and to protect data. Benchmark also uses the Internet-enabled Profitvue enterprise back office system from Aptech Computer System to centralized property accounting.  This is technology plays an important part of hotel operations. The Profivue back office accounting system is internet-enabled, so a PC is the only back-office hardware. The same for the front office systems. It is a great saving for its owners. Since Profivue is flexible enough for Benchmark to have a standard chart of accounts and general ledger for all its properties, Benchmark can quickly integrate a new property into Benchmark's processes. It just bring financial team members from other properties, who are familiar with the system and chart and G/L. So a new property can be ran very quickly without the usual hardware and software installation and staff training. Another advantage of this system is that Benchmark's financial stockholders, management teams, and guests benefit a lot from it, so they always support these innovations, which can later stimulate the company's success. Applying new technology in operation management can help company win a larger market share and develop fast.
cpaez007

New technology coming to cruise ships in the next few years | Miami Herald - 2 views

  • Wristbands, which open doors, come for an additional price but are free for children.
  • The app will also have facial recognition to allow crew to identify passengers. Other features include way-finding navigation — like Google Maps for ships, — the ability to make purchases, request services, book excursions and plan daily activities in-app. The MSC for Me app will also offer suggestions based on guest preferences.
  • The Miami-based cruise line announced earlier this month a new Cruise Norwegian app that will allow passengers to check in ahead of their vacation, book excursions, make dinner and show reservations, and purchase drink packages or other amenities. Unlike the Carnival or Royal Caribbean versions, the app doesn’t change the physical embarkation process, but it does offer the option to go paperless with the documentation needed to go aboard.
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  • Like Norwegian, it will rely heavily on an app component, that, like Carnival, will also be available on interactive screens around the ship, in addition to mobile devices and stateroom TVs. And, like Royal, MSC will have a smart watch with geo-location that is also connected to the app.
  • In January, Carnival revealed the result of an 18-month project aimed at making the cruise experience more intuitive. Instead of largely relying on a smart phone, the company chose to build a “medallion.” The quarter-sized, two-ounce disc contains passenger information, incorporates geo-location services and is personalized with each cruiser’s name and sail date. It can be carried in pockets or worn on wristbands or pendants for an additional cost.The medallion interacts with the whole of the ship, which will be retrofitted with thousands of sensors and interactive screens, and miles of cable.
  • In the short-term, those innovations will looks like this: Guests will check-in through facial recognition technology — not check-in counters, thus eliminating lines. On board, passengers will be able to sign up for excursions, order drinks and make dinner reservations from a new Royal Caribbean app that also will enable crew to find passengers based on facial recognition. The app will partner with Royal’s WOW Bands, similar to Disney’s MagicBands, to open stateroom doors. And, thanks to RFID tags on luggage, guests will also be able to track the progress of their bags to their rooms. As with Carnival, the more passengers interact with the technology, the better equipped the app will be to offer meaningful recommendations.
  • For example, as guests approach their stateroom doors, the door senses the medallion and unlocks it for them. A digital photo wall senses a passenger’s approach — thanks to the medallion — and adjusts to show the cruiser his or her vacation pictures. After a guest requests a drink, either on an interactive screen, a smart phone or other device, crew can find that passenger wherever he or she is on the vessel because of the geo-location in the medallion.The operating system behind the medallion is Ocean Compass, an online vacation profile that passengers create before sailing, where they input their preferences; during the trip, they can add information via onboard screens and personal devices. Crew can also access passenger profiles in Ocean Compass, allowing them to offer relevant suggestions and address passengers by name.
  • Beyond that, Royal Caribbean plans to add virtual reality and augmented reality into the passenger experience. These concepts might transform cabin interiors with images of a starry night or a peaceful sunset displayed on screens on the walls, ceiling and floors. It could also transform dining by introducing virtual reality glasses that can transform the venue into a new landscape based on the cuisine passengers are eating.
  • But with the new technology will likely come privacy concerns. Much of the software cruise lines are introducing also involves capturing passenger information and using it to curate suggestions about what to do.
  • It’s already happening. In 2014, Starwood Hotels announced plans to start using smart phones as hotel keys, with the help of an app and Bluetooth connection. Hilton this year discussed plans to build a “Connected Room” in 2018, which will allow guests to control features of the room through an app, including lighting, entertainment and temperature.
  • It elevates the experience for everyone, not just the highest paying passengers, and not just on its best and newest units. I think it will become the norm...eventually the cruise industry and, not just the cruise industry, but other places, other tourism [entities].
  • The technology aims to ease irritations: the long lines to embark or disembark, crowded bars, the impersonal feeling of a mass congregation of people.
  • Carnival Corporation, Royal Caribbean Cruises, Norwegian Cruise Line Holdings and MSC Cruises — have all come out with tech that promises to make cruising a less cumbersome experience. Most of it incorporates facial recognition and geo-location.
  • In the next five years, the new normal in cruising is going to be a better-connected voyage that will largely do away with lines and waiting — some of the factors that deter travelers from cruising to begin with.
  •  
    The article revolves around new technological concepts that the main cruise lines are adding to the cruising experience. While they have heavily focused on the ships hardware, they want to implement new software that will make the experience more enjoyable and simpler for guests to enjoy. Carnival, would like to implement a "medallion" called the Ocean Compass, that is crossover between the Disney Magic Band, and the band seen at the Universal Volcano Bay water park. It fits the Disney aspect, because it holds information,can open doors, and links guest pictures to the technology. It is similar to Universal, because it informs guests of when to attend something, so that they do not have to wait in a line. Royal Caribbean, likes the band idea that Disney presented, and wants to make bands of their own, that have similar functions that the Ocean Compass from Carnival has. In addition, Royal Caribbean wants to expose their guests to Virtual Reality. They hope to create an immersive experience for their guests, from the comfort of their rooms. Norwegian and MSC are mostly developing smart phone applications, that allow guests to check-in, book excursions, and open rooms. It is obvious that Disney developed a great idea with combining a "magical" band and phone application. The concept is so successful, that other players want to utilize the same formula. Let us see how well it works in the cruising industry.
Melissa Krajewski

Cornell Center for Hospitality Research Examines Daily Deals and Sustainability Issues - 0 views

  • A survey of nearly 200 international hotel operators found generally favorable results for those that had offered a daily deal, also known as a flash deal, according to a study posted by the Cornell Center for Hospitality Research.
  • Piccoli and Dev found that Groupon and LivingSocial were the two sites used most heavily by these respondents, and their top reasons for offering a deal were branding, customer acquisition, and boosting occupancy in shoulder periods. Ironically, the hotels that were avoiding daily deals were especially concerned about compromising brand standards.
  • David Jerome, senior vice president of corporate responsibility at InterContinental Hotels Group, three critical myths are (1) that "green" is expensive, when in fact sustainable practices save money; (2) guests do not care about sustainability, when in fact many guests and group planners specifically look for "green" practices; and (3) hospitality firms can wait to implement sustainability programs, when in fact waiting is costing them both money and business.
  •  
    This article comments on the perceived effectiveness of daily "flash" deals distributed through the internet to provoke the usage of services of a hospitality enterprise. It also addresses current industry challenges hotels face with regards to sustainability and corporate social responsibility. The first Cornell study surveyed approximately two hundred international hotels. The results showed half of the hotels have used the e-Marketing "flash" deals technique while the other half abstain siting concerns of brand reputation. However the issue of dissatisfaction from those hotels who use daily deals is also prevalent. The conductors of the study recommend those who use the deals to "start small," clearly define the reason for the deal and examine every aspect of the deal, including limitations, to increase ROI and satisfaction. If the deals are tailored to fit both the hotel and guests' needs they should attract and retain customers. The roundtable discussion then dives into an important branding issue of CSR. It highlights common misconceptions related to sustainability such as going "green" being being costly, guests not appreciating sustainable efforts, and the "wait and see" approach being smart for implementation. With education and communication the hospitality industry can inform their internal and external customers of their sustainable business practices and increase customer acquisition. Rather than being reactive, businesses should be proactive and concentrate on their "long-term brand focus."
ovila009

Global distribution system (GDS): Complete guide for hotels - SiteMinder - 1 views

  • More than 600,000 travel agents plug into the GDS every day on behalf of companies to book flights, hotels, car rentals and destination activities.
  • Despite the growth of third party online travel agencies (OTAs) like Booking.com and Expedia, the GDS remains the number one way to promote your hotel to the corporate travel market globally.
  • A GDS is a worldwide conduit between travel bookers and suppliers, such as hotels and other accommodation providers.
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  • The history of global distribution systems dates back to the 1960s when a more sophisticated method was needed to keep track of flight schedules, availability, and prices
    • anonymous
       
      This is how GDS started back in the day in order to keep track of things however nowadays it is used for so much more.
  • Hoteliers are always looking at ways to increase their reach to attract more customers, increase revenue, and make a profit
    • anonymous
       
      Hence why GDS is so beneficial for hotel companies and other industries.
  • As soon as a reservation is made on the GDS or an online booking website, the channel manager instantly reduces inventory across all channels, including the hotel’s own website, and automatically delivers the reservation details back into the PMS or central reservation system (CRS).
    • anonymous
       
      Reservations are now made quick and easy with this system. It gives customers a pleasant experience.
  • There are several major global distribution systems that house and process the majority of data from hotels, airlines, and other distributors. These include Amadeus, Sabre, Galileo, Worldspan, Apollo, and Pegasus.
    • anonymous
       
      Here we can see some examples of GDSs.
  • The Apollo reservation system was used by United Airlines until 2012, when it switched to SHARES, a system used by its former Continental Airlines subsidiary.
  • Sabre is seen as a pioneer for online travel agencies, corporate booking tools, revenue management, and web and mobile itinerary tools, to name a few.
  • Galileo traces its roots back to 1971 when United Airlines created its first computerised central reservation system
  • created by other airline groups in an attempt to gain market share in the computer reservation system market.
  • Worldspan is a Travelport platform, and is the technology leader in web-based travel eCommerce, offering solutions for all facets of travel business online. As a leading GDS, Worldspan provides travel distribution, technologies and services for thousands of travel companies worldwide, including travel agencies, corporations, travel suppliers and travel websites.
  • Amadeus has the biggest global footprint of any of the GDSs, with a potential reach to millions of guests.
  • Abacus was founded in 1988 and became a leading provider of travel solutions and services in the Asia Pacific region.
  • Pegasus Solutions pioneered the hospitality reservations industry.
  • The best systems will connect your hotel directly to the world’s most prominent GDSs
  • Using a software provider to tap into the GDS saves a lot of money and time.
  • Essentially, the GDS can increase hotel bookings and revenue by placing hotels on more ‘supermarket shelves’ globally.
    • anonymous
       
      It gives hotels the ability to expand and increase the number of customers they get by exposing them more internationally.
  • there are still more bookings being generated through the GDS than through hotel websites.
  • The GDS is indeed a unique and direct marketing tool for your hotel.
  • booked quickly and efficiently.
  • The GDS can help hotel managers uncover new market segments to promote their products to
  • More travel agents are relying on the GDS to find the best places for their clients to stay.
  • the GDS improves search positioning and displays your brand messaging during the search and booking process
  • Hotels generate more revenue through a GDS because it places the hotel’s information, availability and rates in prominent locations where it is easy for travel agents to find.
  • you can market all of your rooms to all of your distribution channels at one time.
  • Your GDS should help you maximise your bookings and increase your revenue
  • the capability for the GDS to integrate completely with your existing PMS, online booking engine and channel manager.
  • help you make the best decisions regarding your marketing strategy and distribution plan.
  • discover and tap into the most powerful and motivated market segments.
  • trial the GDS for a short time and measure results before continuing your subscription.
  • Because cruise travellers rely heavily on travel agents for their trip arrangements, it’s highly likely any hotel bookings will also be made through this channel.
  • A GDS is a worldwide conduit between travel bookers and suppliers, such as hotels and other accommodation providers
  • Cruises tend to rely on more conventional channels like travel agents to reach and convert guests.
  • With the cruise industry currently in a state of growth, it represents a chance for hotels to get a slice of the revenue.
  • It appears travel agents are driving most of this success, with 70% of cruise bookings made via this channel.
  • Cruises do all the hard work to book their guests but often they will arrive a day or two early or depart a day or two after their cruise, booking at hotels for the extra time.
  • Most prominent is your hotel description
  • you eliminate the frustration of signing up with each individual platform, and you can connect to all of the top providers without paying the individual fees.
  • The GDS is often used to tap into the corporate travel market because it has the ability to present hotels, flights, and car rentals in one simple interface which is convenient.
  • Live rates and availability are sent from a hotel’s property management system (PMS) directly to the GDS and online booking websites via a channel manager.
  • What are the major GDS systems?
  • here are several major global distribution systems that house and process the majority of data from hotels, airlines, and other distributors. These include Amadeus, Sabre, Galileo, Worldspan, Apollo, and Pegasus.
  • There are several major global distribution systems that house and process the majority of data from hotels, airlines, and other distributors. These include Amadeus, Sabre, Galileo, Worldspan, Apollo, and Pegasus.
  • Amadeus GDS
  • Sabre GDS
  • Galileo GDS
  • Worldspan GDS
  • Apollo GDS
  • Abacus GDS
  • Pegasus GDS
  • – like the ones mentioned above – so you don’t have to worry about signing up to each one
  • individually.
  • In one fell swoop you can access all the retail and traditional travel agents you want:
  • There are a few specifications which will greatly aid successful GDS connectivity: Being centrally located Being located close to an airport Room capacity of more than 20 rooms Lodgings that are set up for corporate markets and not affected by seasons
  • Here’s a checklist to ensure you’re using the GDS to its full potential:
  • 1. Pooled inventory
  • 2. Commission-free structure
  • 3. Integration capabilities
  • 4. Comprehensive reporting
  • 5. Ability to target specific markets
  • 6. No lengthy contracts
  • 7. Simple and affordable connection
  • Essentially, the GDS can increase hotel bookings and revenue by placing hotels on more ‘supermarket shelves’ globally. This approach is particularly effective at capturing international corporate travellers. You can gain lucrative international corporate business, particularly if you’re near a major airport gateway or close to government or commercial enterprises.
    • yoevelyn
       
      This article goes into how to optimize the use of GDS for a hotel operation and the author touched on a point we have discussed in the class before: how to market your local hotel to an international audience. The author suggests that adding your property to a GDS can be a cost-effective way to bring those international business travelers, specially if your hotel is near an airport.
  • The number of bookings generated through a GDS generally outpaces that of direct bookings
  •  
    This article goes in depth into GDS. It explains the concept of the GDS is and how eaxctly it works. It also gives examples of some major GDSs. It talks about the benefits of using GDS in hotels.
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    The global distribution system in the hospitality industry is beyond vital in the act of keeping the ball rolling. GDS provides live products and offers to travelers across the globe. Whats really amazing about GDS is that live availability and rates are transferred through a channel manager directly to online booking sites. This allows guests to acquire the best rates the soonest as opposed to waiting to call a hotel or resort to see what they have and at what price.
  •  
    This article shows us everything we need to know about Hotel GDS. It includes GDS in the hotel industry, GDS work way in travel, seven major GDS systems, the way to access leading GDSs with GDS software, GDS conditions of use, benefits of connecting hotel to the GDS, and how to use the GDS to capture cruise travel bookings at hotel.
anonymous

Wait-and-See Could Be a Costly AI Strategy - 1 views

  • Competitive Intensity Matters
  • Sometimes waiting can be a winning strategy, but that outcome depends on the intensity of competition.
  • The Window of Opportunity Will Close Fast
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  • According to our analysis, 50% of companies are likely to find themselves in that position because they will wait to adopt AI until revenue competition precludes cost recovery.
  • The longer they wait, however, the more likely it is that AI gains will dissipate.
cpaez007

The Future of Retail: 6 Ways the Cloud Will Reinvent the Sales Floor - 0 views

  • New web-based, cloud-hosted software-as-a-service solutions are making data available in real time and are poised to unite the digital and physical retail environments, disrupting the retail landscape.
  • Retail management teams can see sales trends develop as they are developing. They can see traffic patterns in real time and be able to see conversion rates at the product level.
  • Making real-time data available on the store floor can change the game.
  • ...4 more annotations...
  • Store associates should always know which styles have been selling on instantly consumable dashboards. Armed with this information, they will be empowered to take action to turn lagging styles into leading styles.
  • Making inventory data available across all stores in real time allows associates to create customer orders for items they want but are not in stock in their store. Fillable orders are instantly visible and ship quickly.
  • Suppose a retail chain has one store that historically underperforms based on average units per transaction. Set the goal of reaching parity with other stores, create an attractive reward for reaching the goal, and make the average units per transaction metric available in real time to all store staff.
  • No longer must there be a physical barrier between sales associates and their customers. No longer will customers be frustrated by sales associates that stand behind the counter and never greet or approach them.
  •  
    Today we will discuss the 6 ways that a cloud based system could change the impact of retail forever. This update will make specific information available in real time, and make the experience better for the guests and the staff members. 1. The system will be able to track the live data from the actual floor of the store. For example, it would be able to tell the items that are actually being tried on, and the ones that are bought. This will be a great advancement in marketing, because it helps the business to figure out what it is that their demographic is attracted to. Second, the employees will have access to this data while they are working. This will make it easier to market items to guests, instead of wasting time trying to figure out what it is that they might be looking for. Third, have a track record of their inventory. Employees will have in depth information of their inventory and the inventory of other stores, all real time. This will allow for custom orders and greater guest satisfaction. Four, the system will be able to track the sales associates who are creating the best sales. The store can use this to create contests and provide rewards to the winners. This increases employee motivation and will to work. Five, mobile point of sales system. We had discussed the convenience of a mobile system with the cloud PMS, and now we can see it with a POS. This will have associates engaging more with guests on the floor, and the guests might not even have to wait a line to receive their products anymore. Lastly, it works for any sized company or store. Pricing and accessibility adapt to the size of the location, and is indeed less expensive than bulky software and hardware.
Jeremy Fairley

Independent hoteliers cautious of Roomkey.com - 0 views

  • Adding independent hotels to Roomkey.com would make the site more comprehensive, said Jeff Low, founder and CEO of Stash Hotel Rewards, a hotel rewards program for independently-run hotels. “My view is I think everyone wants additional channels.” Low said it’s a “wait-and-see approach beyond its initial release to see if it’ll get traction,” he said.
  •  
    When Room Key entered the pantheon of metasearch engines, initial reactions varied. While big chains were seemingly excited for this alternative to third-party search engines, independent hoteliers maintained a reserved skepticism, wondering what place, if any, there will be for them on the site. These independent owners are taking a wait-and-see approach when it comes to Room Key's potential influence on independents and hotel search-engine landscape.
  •  
    Good example of the wait and see method as discussed last week. Be interesting to see how this one plays out for Room-Key as well as the smaller independent chains...
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