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Irine Wallace

University Library: How to drive revenue through property-management systems - 1 views

  • "We don't get incremental revenue from using the PMS, but there is information in there you can use if you want to," said Graham Dungey, SVP of ecommerce, revenue and distribution for Concorde Hotels & Resorts. "The theory is fantastic. You identify the people who spend the most money and where they spend it. Some hotels are quite forward-thinking; they'll make a study of the minibar, see who is buying what items, put corner-store food into a dozen minibars and sell it for twice as much. There is so much opportunity inside the PMS to increase incremental spend on property.
  • "We don't get incremental revenue from using the PMS, but there is information in there you can use if you want to," said Graham Dungey, SVP of ecommerce, revenue and distribution for Concorde Hotels & Resorts. "The theory is fantastic. You identify the people who spend the most money and where they spend it. Some hotels are quite forward-thinking; they'll make a study of the minibar, see who is buying what items, put corner-store food into a dozen minibars and sell it for twice as much. There is so much opportunity inside the PMS to increase incremental spend on property.
  • "We don't get incremental revenue from using the PMS, but there is information in there you can use if you want to," said Graham Dungey, SVP of ecommerce, revenue and distribution for Concorde Hotels & Resorts. "The theory is fantastic. You identify the people who spend the most money and where they spend it. Some hotels are quite forward-thinking; they'll make a study of the minibar, see who is buying what items, put corner-store food into a dozen minibars and sell it for twice as much. There is so much opportunity inside the PMS to increase incremental spend on property.
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    Use of property management system PMS cost money in terms of upfront investment or maintenance or fees for using a vendor's system but the money generated by the use of the system outweighed the costs. Hotel rooms are perishable and any empty room means waste of resource and therefore using PMS to fill up as many rooms as possible is wise. Likewise empty restaurant costs the owner money to cover the fixed cost including the minimum labor to keep it open.
ccpanther88

E-marketing in Malaysia: some are and some are ignorant - 0 views

  • When Uruguayan footballer Suarez bit an Italian player during a match in the Fifa World Cup in June last year, an Indian restaurant in Kuala Lumpur used it as a marketing tool. On that day, Fierce Curry House in Bangsar offered free biryani meals to those who walked in wearing a Uruguayan football jersey. That is e-marketing for you.
  • In December last year, the bakery called Tommy le Baker posted on Facebook a photo of two large baskets of bread with a poster next to them that said: “Take if you need, pay if you want.” The post was shared numerous times over and within a short time the bread was all taken.
  • Scicom Education Group’s head of Creative Services Vernon Adrian Emuang feels positive about social media in Malaysia when compared to other countries in Southeast Asia. “Perhaps (we are) way ahead of others, in terms of widespread public engagement and intensity of online activity,” he tells The Establishment Post. “Essentially, Malaysians seem pretty clued in. The social media landscape is pretty populated which has facilitated marketing and sales efforts that ride on technology,” adds Mr Emuang.
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  • Mr Emuang says: “As a fragmented market, it is hard to build significant numbers. So it is always important to involve cross-border initiatives.” Especially, the tourism and hospitality businesss. “Boutique accommodation places could register with aggregating travel websites like www.booking.com and www.tripadvisor.com.”
  • Under Budget 2015, the government is giving funds for SMEs to equip themselves with IT facilities for expansion purposes and to venture into overseas market using e-commerce. There is RM80 million (US$24.4 million) to encourage the use of new technology, automation and innovation.
  • “In my consultancy practice, I do not see companies incorporating social media in their crisis communications plans, even though it is very evident that many crises today stem from social media or can spread and be magnified through social media channels. It is only after they are caught like deer in the headlights are they likely to change or take social media seriously,” the Trinetizen Media Sdn Bhd director tells The Establishment Post.
  • “The crux of the matter is that social media forces companies to be more open, transparent and accountable to their stakeholders. But the management culture here, especially with family-owned companies, is closed, almost secretive, and opaque.” Time and the need to expand will force many a business to get into e-marketing.
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    Malaysia and Southeast Asia is slowly but surely adapting strategic social media and e-marketing into their small and medium-sized enterprises (SMEs). This article focuses on the opposing views on how these tools are being utilized and adapted to help these small businesses. Scicom Education Group's head of Creative Services Vernon Adrian Emuang is confident that Malaysia is ahead of the games in terms of social media and "widespread public engagement". This may sound like a far cry considering that 64 percent of the SMEs in Mayalsia were not engaging in social media in 2012. Emuang emphasizes the impact that social media can have, considering that SMEs account for 99 percent of the 5 million registered Malaysian businesses. Zeno Group Malaysia's CEO told The Establishment Post that "lack of knowledge is holding back many of the SMEs. They feel they need not use social media for marketing purposes." Emuang also says that many of these companies are not implementing the proper technological infrastructure to support their ecommerce, should they receive an influx of traffic on their servers, etc. He even shamed the customer service that lacks the manpower to follow-up with the volume of customers. Many hotel and lodging businesses are adapting global initiatives, such as registering with Booking.com or Tripadvisor.com. These outlets allow ecommerce to flow to a much wider, international audience, boosting bookings and revenues at venues that wouldn't have otherwise. Julian Matthews, a famous Digital Media Trainer and Consultant, says companies are operating social media on a tactical rather than strategic level. The Trinetizen Media Sdn Bdn tells The Establishment Post that many companies aren't utilizing Social Media for crisis communication-something many companies we are familiar with fully rely on. In conclusion, social media adds accountability and reliability for the companies and their stakeholders.
lazarobenitez

Hotel Ecommerce Could Get a Boost from Data and Analytics - 0 views

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    This formidable article talks about the information hoteliers should use in order to drive more demand towards their business. The article also give an overview on the different OTAs that accumulate important data regarding clients consuming habits.
chinneegyyal

How to Use Events to Grow Your eCommerce Business - Eventbrite US Blog - 0 views

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    This article is about how being a small business is not always easy but Internet has made some parts of it just a little bit easier for small businesses. For the marketing/event management side of it is that anybody could make a business through social media which includes promoting and selling for the business. Now a day, there is more technology use and people are more updated with technology and the advantages of it. Putting together eCommerce and events/marketing breaks things down to make it easier for businesses.
acarter001

E-Commerce Strategies to Drive Restaurant Biz | News | Hospitality Magazine (HT) - 1 views

  • Fortunately, new technology lets restaurants adopt some of ecommerce’s best practices. From an IT perspective, this requires four key elements:   A system to close the loop at the guest level on promotional offers. It’s not enough to have a POS discount key for “Father’s Day promo” anymore. You need to know which dad (or mom!) responded to that offer, what they bought, and who they brought in with them.   The ability (either directly or through your credit card processor) to access payment data in order to identify individual guests when they return. This data set is essential – it’s the lifeblood of ecommerce. Fortunately, the ecommerce players have pioneered safe, secure ways to get at data without compromising PCI safeguards.   A guest-centric data warehouse to store all the key data sets — check level POS data, payment data, marketing data, loyalty program data if available, reservations, online ordering, guest responses, and third party data such as Prizm or Mosaic.   An analytics layer. The requirements here go way beyond static or standardized reporting. Marketing needs to be able to cut data in an ever-changing variety of ways to identify key patterns and segments.   Marketing, in turn, must partner with IT on determining goals. What is the restaurant trying to accomplish and what can be left out? Take joint meetings with IT to look at vendors to help give a sense of what’s possible. But then let IT do their job. Next, build the business case. Moving to a data driven marketing strategy will require shifting budget from other media, or finding new budget dollars. Determine appropriate metrics and the desired payoff. Setting up high level, high visibility “report cards” is critical. For example, “Our 2015 goal is to grow the annual spend of our top three customer groups by 4%, thereby delivering $17.5M of incremental sales.” That will get the CFO’s attention and the goal is doable. Finally, design and execute the marketing plan. That will likely require a trained data and analytics expert, and/or a close partnership with a company that analyzes data 24/7. Either way, it’s important to not over-reach in the beginning. Year one is about becoming familiar with the data, drawing insights, and learning a new language—segments, deciles, annual spend, customer acquisition costs, and lifetime value. The good news is there is usually a great deal of quick wins, such as offer optimization.     Introducing data-driven marketing may seem like a daunting task, but the ability to predictably drive sales should incent even the most cautious. The benefits of bringing an early mover are huge. These restaurants will have more data to work with two to three years out. More data, gathered over a longer period of time, becomes its own competitive advantage. Just ask Amazon.
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    This article speaks to advances which allow restaurants to participate in a better form of ecommerce. Restaurants have always had trouble capturing their guests fully as most guests are in and rewards guests do not provide much detail that is usable. It is possible to gather the information required to properly target guests and encourage them to return with incentives that make sense for them.
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    With all this data available, how do restaurants sort through it all to find out what is truly useful. Deciphering all this information is time consuming, and expensive. As the amount of data we are able to collect increases, so does the need to efficiently interpret and use that data.
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    Many larger restaurant chains already do this, but not to the degree that hotels do. It would be something that would be very expensive for smaller restaurants to do, but might be a great opportunity to drive sales for large chains.
edagt001

The Future of Ecommerce in 2020 - 0 views

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    This article is about ways of how ecommerce is affecting the hospitality industry in the future.
apate114

The Marriott/Starwood "Back to the Future" Technology Decision | By Israel del Rio - Ho... - 0 views

  • decade's-long technology transformation program to move Starwood from its MVS Mainframe technology (Starlink) to modern Reservation, Call Center, eCommerce Web, Property Management and Revenue Management systems integrated with the Loyalty system via SOA interfaces and open system frameworks (system name: Valhalla)
  • dynamic pricing, rapid channel distribution plug-in integration, standardized PMS, Web/Loyalty integration, multifaceted inventory and booking capabilities, advanced amenity search, etc.
  • heIntercontinental Hotels Group (IHG), for example, is currently engaged in a major project in partnership with Amadeus to replace its own Holidex TPF Mainframe reservation system with state of the art technologies by 2018[1]. Wyndham Hotel Group too has announced its intention to migrate its legacy system to a new system being developed by Sabre [2], and Hilton has also announced a major $500M investment to upgrade its technology[3].
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  • Marriott's own system today centers around 1970's Mainframe TPF technology (MARSHA) suitably kept current via the judicious use of the scotch-tape and wires represented by a cornucopia of front-end gateways and the labor intense support of inflexible legacy code, eclectic data bases, hard-coded interfaces, and a veritable zoo of different property management systems crying for better integration.
  • MARSHA stays, and the Starwood System goes away.
  • Back to the Future Transformation Strategy under the principal argument that it will be easier to migrate the 1,200 Starwood properties to the old Marriott system than to migrate the 4,000 Marriott properties to Starwood's 21st Century solution.
  • Given that Marriott is now risking being left behind—especially as it invariably loses the people who forged the Starwood system—it's hard to argue its chosen course of action is in the best interest of its stockholders.
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    This blog article relates to the merger between Mariott and Starwood Hotels. For decades Starwood hotels had been investing in a technology transformation program to move Starwood properties from their old mainframe technology to a more modern reservation system called Valhalla. Valhalla is an all in one system and manages reservations, call center, eCommerce Web, Property management and Rev mgmt systems. One would expect Mariott to migrate their current properties to Starwoods PMS however this was not the case. After the merger Mariott announced that they would be migrating the 1200 acquired Starwood properties to their reservation system. I don't understand why Mariott would do this as this would be a backward move. It's a bit strange because their purchase price for Starwood factored in a $500 million Starwood IP technology value which was not owned by Mariott.
jasdhami95

5 Tips to Activate Your Ecommerce - 1 views

  • Keep Communicating With Your Guests
  • consistent social media updates
  • establish a connection
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  • clearly outline what your property is doing to ensure their safety,
  • Utilize your social media networks to inspire travelers as travel begins to resume
  • re-birth of the road trip and similar drive market demand.
  • keyword rankings have not dropped in kind,
  • Planning for that pent-up travel demand, however, will require a data-first approach.
  • Property's can also run promotions and specials
  • creating your target audiences to deliver relevant messaging
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    This article discusses five ways to stimulate Ecommerce which includes corresponding with guests, remaining active on social media, not letting your SEO go on leave, devising media budgets and targeting, as well as employing the help of an expert. The author emphasized staying in contact with your customers whether it be through your website, social media, or email. The intention is to stay connected with your guest so that when it is time for them to choose a hotel, they will choose yours. Social media can be used as a tool to entice your future guest and keep them interested in your property. Keeping search traffic up for your website will also ensure people continue to look at your property. Keep in mind the kind of travelers that will come to your property, and tailor your advertisements, messaging, and offers to meet the needs of those travelers. And lastly, if needed, do not be afraid to enlist the help of an expert. This article is meant as a guide for getting one's Ecommerce back on track during these hard pandemic times.
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    My opinion on this article is that E-commerce has been a huge hit as of lately and it is time for this type of trend to follow in the hospitality world. There is a huge shift from walk-in business to online bookings and the best way to show guests the improvements to the property would be through email and social media presence. This would give properties a competitive advantage when it comes to OTA bookings.
shannaton

Ecommerce Data Breaches: Real Costs of Security Mismanagement - 1 views

  • In 2013, retail giant Target had more than 110 million of its customers’ credit card and con
  • act information compromised. This breach led to the resignation of its chief executive officer (CEO) and chief information officer the following year.
  • Hackers steal personally identifiable information, like names, addresses, phone numbers, and Social Security numbers to commit identity theft.Attack groups also steal less common information, such as customers’ favorite sports teams, pet names, dream vacation spots, and places of birth to gain access to financial accounts.
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    There has and continues to be constant breaches where hackers tend to use sophisticated techniques to to exploit personal data. With so much at stake ecommerce businesses must heed the warning and take proactive action to secure their data.
jchac014

The Impact of E-commerce on the Travel Industry - 0 views

  • 5 Ways Ecommerce has Benefited the Travel Industry
  • In the past few years, a tremendous change has come about within the travel and tourism industry and e-commerce has completely changed the concept of how people choose the way they travel around too.
  • E-commerce has played the vital role in enhancing the travel industry. Service providers and consumers, both are now enjoying the feasibility of it.
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  • 1. Online Booking
  • 2. Managing Recessions
  • 3. Automation and Networking
  • 4. Additional Global Market
  • 5. Ease of Accessibility
  • The industry of travel and tourism is now dependent on E-commerce, it provides practical ideas to implement and plan anything in advance from cheap solo travel excursions to hefty family holiday packages.
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    The demand for e-commerce has increased over the years, and has played a vital role in the travel and tourism industry. The article lists five ways e-commerce has helped the industry grow by making operations and online booking more feasible.
biancafavilli

ECommerce in Hospitality and Tourism Industry - 1 views

  • New technologies are providing different channels for marketing and management that improve the capabilities of society. And computers are providing faster and more reliable processing with lower cost continually.
  • In Hospitality and Tourism industry, hardware, software, information management, and telecommunications systems have allowed for the processing and information flow amongst organizations. The way in which tourism organizations take advantage of IT tools may determine their future success in the marketplace [4]. We consider the importance of the trend of Information Technology by implementing an effective IT system for advertising, distribution, encouragement and co-ordination of the industry. It is important that Hotel Industry take the lead of the emerging technologies to improve management abilities and develop business plans focusing on the most efficient income of delivering value added products to clients.
  • B2C transactions involve business-to-customer interactions.
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  • B2B transactions involve business-to-business.
  • B2E transactions involve a business and its employees.
  • C2C transactions involve two or more consumers (customer-to-customer).
  • The industry can make profits to many countries and pull foreign currencies into the country.
  • The travel distribution system is currently facing many changes as online agencies such as Priceline, Travelocity, Expedia, etc. have introduced a way to access travel suppliers directly via the worldwide web. In general, Global Distribution Systems have not shown much of an effort toward targeting on-line customers. As an alternative, Customer Relation Systems have remained trustworthy to their travel agency distributors.
  • The Internet is not the full solution to success in the Hospitality and Tourism industry. However, the Internet is the “overall business answer” across industries
  • The success of the Hospitality and Tourism industry will depend upon the abilities to identify and answer quickly to current and potential customer needs
  • Starwood Hotel Group was standing ahead of other Hotels to offer a online “virtual tours” of its properties. This feature provides a site visit to potential guests without having to travel to each property. And now, many well-known hotels are also providing this promotion feature for stand top of the roles to attract potential customers.
  • Google presented the vision of Internet marketing is likely to grow by 2015. Some of them are worth to be informed and aware about.
  • 50% of ad campaigns will include video ads bought on a cost-per-view basis 50% of ads will be bought using this real-time bidding technology to tailor experiences for different viewers Smartphones / mobile phone will be the number one screen for digital brands to engage users There will be at least 5 metrics that advertisers will regard as more important than the “click” 75% of web ads will be “social” in nature such as facebook. Therefore, Ads will be shared, discussed, subscribed to and recommended Multimedia formats enable great creativity and interaction – these will grow from 6% of display ad impressions to 50%, especially for brand building campaigns Digital display advertising is going to grow to a $50 billion industry This forecast shows that competition to attract potential customers via worldwide web will be more and more drastic.
  • World Tourism Organization (WTO) estimates that over 1.5 billion tourists would take international journeys in the year 2020.
  • Another e-Commerce model such as Auction style-pricing models are becoming customer preference, where the customer are able to control the price of the products and services to be consumed.
  • Airlines have a stronger straight link to customers as they compete directly against travel agents [23]. Furthermore, they could have stronger control over the customers due in part to the e-ticketing. In this respect, online technology has replaced the travel agency by adding value via fare shoppers, promotions, and personalized recommendations
  • Customers are almost guaranteed that they will obtain the best price by negotiating via an online agent such as Priceline. But a shortcoming to all of this is that the customer will not understand all of the normal benefits of air tickets as they are sacrificed via online auction purchases. For example, in many cases the travel ticket does not permit any changes or accrual of or without significant penalty charges.
  • Online companies have more of a chance at success in Hong Kong due to the dense population, strong education systems, high credit card and cell phone usage. This leaves room for the future development of the next Priceline or Travelocity in Asia which could pose a major threat to hospitality & tourism organizations. Based on the high volume cell phone usage in Hong Kong, Mobile commerce should be a new trend on next stage. [29]
  • As low cost computer real-time data, fast speed internet access, voice and video communications become a reality, travel agencies may no longer be needed. On the other hand, the Internet challenge can also mean chance. Hotel owners and operators who understand and master e-commerce or m-commerce challenges will be able to jump ahead of online threats from large players such as Priceline. Otherwise, many will find themselves out of business.
  • Information Technology tools have allowed travel intermediaries to expand their role in the industry by presenting opportunities to venture into other markets on a geographical level.
  • Not only should hoteliers focus on the business traveler, but they should also consider whether there are other types of potential target customers as we may find that both young and older generations were sitting in the Internet shops utilizing online services during their vacation as well.
  • Organizations have to invest in the expertise and equipment (Hardware, Software) for building a strong IT base at first.
  • Internet security has been a major issue surrounding the Internet community.
  • Governments are currently addressing Internet based global commerce by considering rules of conduct, guiding principles, laws and taxation. [*30]
  • Today, hotels are distributing their product via more and more channels. How they keep control of availability and price, maintain a consistent level of customer service, in addition to keep their distribution partners up to date at the same time has becomes a complicated and expensive process.
  • The core transactions of our business involve intimate face-to-face interactions, which have certain limitations in regard to the use of e-commerce in the hospitality industry compared with other enterprises
  • It is important to take a look at how Internet technology will affect the future of the tourism industry. Most IT tools are being utilized
  • The hospitality & tourism internet future suggests a universal system where property management systems will eliminate the need for expensive on-site computer hardware/software.
  • Future success for hospitality & tourism companies depends upon their abilities to identify a target market and the strategic opportunities available for survival and growth.
  • It is crucial for hospitality & tourism organizations to stay on top of the roles of the major online players that are posing a serious threat to the industry such as Travelocity, Priceline, Expedia, Yahoo, etc. Their role in the future of hospitality & tourism marketing is crucial to the survival of Hoteliers.
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    This article highlights the different aspects that e-commerce brings to society. It highlights the many ways that e-commerce has affected the Hospitality Industry and the things that can be done about it, and it also highlights the economical and political impact that e-commerce might have on the future of our society (especially the hospitality industry).
anonymous

e-commerce - 0 views

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    This article is about ecommerce in Africa, some countries in this region are not allow to use ecommerce, South Africa is able to use this systems, this also enables the country to generate new ways of commerce beside the walk-in-shop and develop the industry in that continent. Most tourism businesses will opt to do both. Like the display in a walk-in shop, any e-commerce offer needs to be put in front of enough of the right potential customers. So it is vital to consider how much distribution can be achieved, beyond whatever your own website can provide, and at what cost. It also comment other different channels of distribution: Via resellers who sell online direct to the public, Via wholesalers who sell to specialist retail travel agents, Via the Global distribution systems.
brittsengl

Ebusiness and its Advantages - Ecommerce Insights Blog - 0 views

  • Ebusiness has completely changed the way we buy. You’ve probably experienced some advantages of ebusiness as a consumer, but if you’re thinking about starting your own online business, you might be asking, “What are the benefits of ebusiness?” Here are five advantages of having an ebusiness:
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    This article helps explain more in depth of what using E business can do for you when managing online. It tells you the benefits you can get from using this system from people who have already used it. I also like how it outlined and explained how this makes a business accessible, affordable and good for their customers.
Casrine Kelly

Hotel eCommerce in Dubai, UAE & Middle East: eCommerce Articles, Training, Courses and ... - 1 views

  • eMarketing is now a vital part of Hotel & Hospitality business and marketing.
  • Why is eMarketing so important for Hotels today?
  • Accelerating Internet Usage worldwide  • The Internet is the lowest cost hotel booking channel  • Most travellers research hotel stays on the internet
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    Emarketing is important to the hotel and travel industry because most transactions and booking are done online. The article gave reasons why emarketing is so important, because it is cost effective. Emarketing is considered the lowest booking channel for hotels. The article talked about the Middle East, especially Dubai that has the highest internet booking sale. Emarketing is they way to go, it is quick, convenient and can be done from anywhere with an internet connection.
Patrick Montesano

German ecommerce gives Diet Chef food for thought - Telegraph - 0 views

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    UK-based Diet Chef delivers ready-made low-fat meals to some 25,000 customers. With current sales of around 30m dollars in 2011, founder Kevin Dorren is planning an aggressive expansion into Italy, France and Germany.  Issues of payment methods (Germans don't use credit cards online), where to source ingredients, shipping to and from the UK, and whether or not it's blasphemous for an Italian to eat lasagna made in Britain are proving to be quite challenging. 
Hyeyoung Jang

Hospitality eBusiness Strategies to Present at EyeforTravel's Mobile Strategies for Tra... - 2 views

  • Max Starkov, HeBS' Chief eBusiness Strategist will present the session "Mobile Marketing in Travel & Hospitality: the Future is Already Here - an Action Plan for the M-Marketer." Starkov will discuss a range of topics including the Mobile Distribution Channel, why travel marketers should care about mobile, mobile booking sites, an action plan for the travel 'm-marketer', and more. "The mobile Internet has already become a reality and a part of everyday life. Mobile users expect instant access to information and an Internet experience that rivals the one via traditional PCs and laptops -- and hoteliers must respond to this growing demand," said Max Starkov. "What should hoteliers plan for 2010 and beyond? Mobile-ready websites, location-based services, mobile Internet marketing, m-CRM, and mobile apps have already quickly become part of the hotelier's comprehensive Internet strategy."
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    Hospitality e Business Strategies (HeBS), the leading marketing consulting firm for the hospitality industry, today announced the firm will present during EyeforTravle;s mobile Strategies for travel USA conference to be held in Chicago September 16-17. This conference presents about event of the year aiming to educate and inform the travel industry for integration of :mobile" into a comprehensive marketing strategy. According to the HeBS, one of the dominant in mobile strategies in the hospitality industry is the mobile eCommerce recently. It creates and implements mobile-ready websites and mobile internet marketing strategies for the customers. During the conference, Max Starkov will discuss how hoteliers can take advantage mobile channel, how they may implement mobile marketing formats that make the most sense for their hotels, and hoe to apply the latest trends and best practices in their mobile internet marketing efforts so that can realize respectable ROI and incremental revenues growth.
duyt tran

Ecommerce gives a thrust to tourism in Peru - Travelandtourworld.com - 0 views

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    The total online transaction for both inbound and outbound tourism have add up to USD 1,200 million for Peru tourism industry according to National Chamber of Tourism (Canatur). The website has played an important role with a small investment of USD 20,000 can compete with either any tour operator or country's most important operators. The Foreign visitors will continue generate 15 percent more from last year which is forecast to be USD 3.800 million. The reason for a large amount of online tourism transaction is because of the growth of the Peruvian economy increase the number of foreign investment.
kayshap96

How Technology Is Redefining E-Commerce - 0 views

  • The last decade was the biggest in the history of the e-commerce industry.
  • According to eMarketer, China pulled in almost $900 billion from e-commerce storefronts in 2016, with the U.S. earning more than $423 billion in sales revenue. Overall, the e-commerce world received approximately $1.915 trillion in 2016.
  • Redefining The Consumer Shopping Experience
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  • The advent of virtual and augmented reality technologies has provisioned e-commerce vendors with an avenue to display their wares in immersive detail, comparable to the real-life experience.
  • Making Selling As Easy As Buying
  • The traditional emphasis in the e-commerce industry has always been on the shopping experience from the viewpoint of the buyer. In addition to promoting seamless buying, technology is also working to the advantage of the seller. Easy access to instantaneous communication, information transfer, logistics processing and online networking have allowed for remote orchestration of sustainable e-commerce platforms. Sellers no longer have to micromanage every aspect of the e-commerce business or possess the huge start-up capital associated with the sector in the past.
  • Seamless Payment Processing
  • If there’s one other thing that has been the bane of the e-commerce industry, it’s the issue of processing payments made by buyers. It's proven to be either too hard or too expensive to incorporate a payment gateway capable of processing orders from all world markets.
  • With other revolutionary payment solutions like Bitcoin gathering momentum, technology might once and for all eliminate the industry’s payment limitations. The ability to pay through blockchain removes the intermediate middlemen, allowing both businesses and customers to have more control over how they conduct business.
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    This article is describing how technology is redefining E commerce. E commerce has been playing a really big part into everyone's everyday lives, but with technology expanding so is E commerce. For example, technology has been helping with online stores since they are able to show exactly what they are selling with detailed descriptions. Paying methods have also been made a lot easier, and are more reliable. Since technology is not done growing that means E commerce will also be expanding!
espence13

Revenue Management : From the Perspective of the Hotel Industry - 0 views

  • In the hotel and hospitality industry, it is believed that the ideal revenue management is to sell the right room to the right client at the right moment at the right price on the right distribution channel with the best commission efficiency.
  • Today, every bit of data about your room occupancy a couple of years ago can be scrutinized against the specific date and season to determine why you sold your room at that price. And compare it with today's trend and determine the actual cost of the room you should be selling at.
  • Big hotel chains like Marriot were the first ones to understand value and implement the concept of revenue management decades ago. Today, especially in Asia, the developing economies are at a cusp of a technological revolution.
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  • Where cutting edge tech startups and companies in the hospitality industry have tremendous cloud computing power and have built world beating revenue management systems.These systems don't just crunch numbers and generate reports, but they are built on technologies such as AI and Machine Learning to give you, the hotel owner the best possible set of data analysis, to help you make the right decisions.
  • oday we already have the technology to help hotel owners carefully analyze in-house data such as past occupancy rates, general sales, customer segmentation, market share information, and customer satisfaction to name a few. However, external influences such as past weather conditions, holiday seasons, nearby competitors and their prices to name a few are also being analyzed for better price determination.
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    "The Future of Revenue Management " Hotel revenue management is moving front and centre of the overarching business model for many hotels, and this trend is only set to rise further. Revenue management undergoes constant change, more so than other departments. This is because it is rooted in technological capability. Technology will continue to evolve and more sophisticated methods of guest analysis will come to the fore, as revenue managers keep searching for ways of becoming more competitive. This constant change has contributed in large part to the expanding roles that today's hotel revenue manager is charged with carrying out. After all, it is through inventive marketing strategies that hotels can generate business. Ecommerce, social media, client engagement and relationship management have all become central to the revenue manager's job in order to drive business. The hotel sector is probably more competitive than ever before. Hotels aren't only competing with their cross-town rivals, but inter-city and even international counterparts. Online travel agencies, the rise of hostels, and high guest demands make the industry even more competitive. So, hotels are turning to guest analytics; and new technology is making efficient analysis that produces unique, valuable insights possible.
anonymous

E-Commerce for the Hospitality Industry - 0 views

  • The Internet has consolidated itself as a very powerful platform that has changed the way we communicate, and the way we do business.
  • Hotels tend to keep adding promotions, banners to promote offers and special deals.
  • why is hotel e-commerce so important today?
  • ...5 more annotations...
  • Accelerating Internet usage worldwide The Internet is the lowest cost hotel-booking channel Most travelers research hotel reservations on the Internet Social media and online hotel reviews are an increasingly important decision factor The web is the preferred media source for travel information, favored 17:1 over television and 6:1 over newspapers and magazines.
  • E-commerce has been defined as "the buying and selling of products and services by businesses and consumers over the Internet."
  • Paid search. This instantly drives targeted, qualified traffic to the web site and increases conversions. Locally targeted paid search campaigns are a great option. Most of the search queries related to hotels include location as a modifier (for example, Moscow hotels). Identifying top feeder markets and targeting campaigns specifically to those markets will help to increase conversions.
  • People are using mobile devices to conduct searches, as well as share content, connect with friends and browse the web.
  • making sure their site is mobile compatible, and promoting mobile sites across all platforms including paid, social and local.
  •  
    The article is an overview of eCommerce. In how the hospitality industry has been change due and online sales has become an important part of the business. In the way that hospitality companies had begun to try and implement their online presence to bring awareness to their companies or brand. Currently in the modern age the majority of hotel reservations has been done online through the internet. Due to that factor the hospitality industry has shift their focus on marketing from television, newspaper and magazines to the internet.
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