Group items tagged

The article discusses the advancement of digital payments as a direct result of the pandemic. It discusses how cash use is on a steady decline as nearly a third of US adults said they typically make no purchases using cash. Lastly, it emphasizes on how Millennials are the ones leading the charge toward a cashless future and how the impact of the pandemic has led companies like Apple, Square, and Paypal to outstanding performances in the contactless segment.

The article describes how the pandemic accelerated the adoption of technology for many people and how it shifted the needs of people looking for short-term/hotel stays. Companies that thrived during the pandemic were the ones that offered things that began trending as people needed to stay away from others and inside for large periods of time: contact-less experiences and apartment settings rather than traditional hotel rooms. As we move forward from the pandemic and travel begins again, hoteliers will need to re-evaluate their technology and invest in guest experience software tools so their hotels can compete with the new trends in hospitality spaces.

Sabre Corporation has teamed up with BYHOURS, the leading international platform for hotel microstays, in order to provide Sabre's agency community the ability to sell rooms by the hour through BYHOURS' Sabre Red App. Travel agents using Sabre's GDS will now have access to BYHOURS' content in order to meet the new demand for microstays from buyers who want more options with regards to their stays. This agreement comes as the hospitality and hotel needs have shifted due to COVID-19 conditions that include needing to work and meet remotely and has increased interest in leisure staycations and stopover travel. Customers have the ability to select check-in time, length of stay and pay the time they use the rooms. BYHOURS is headquartered in Barcelona and has a second office in Mexico City which serves as the hub for Latin America and the U.S. The agreement with Sabre reinforces their objective to open up the North American market.

The article basically discusses the differences between investing before and investing now since the internet has been born. Previously, people had to try and gather as much information about the company they were interested in investing in by going to the library and reading as much as possible but now it is easier for investors to search a company up and gain all the information they need and more to invest in that company just by entering keywords. Therefore, the internet has changed the investing game completely and even lowered the amount in fees that brokers pay immensely.

Throughout this article, they are expressing new factors in which event planners are deciding their locations for events. They are also describing what is important to them now, and how things are changing in the world of event planning. With the shifts in the generations and technology we are trying to do more with less and get more creative, it is all about standing out and making things easy for the guests.

The article by Shiji Group (2020) focuses on how companies can utilize technology in responding to post-crisis operations, increasing their competitiveness in their respective industries. In itself, the Shiji group is a software solutions company that provides its services in the Food, hospitality, entertainment, and retail industry. The company was founded in 1998 and currently employs approximately 5,000 individuals in its over 80 subsidiaries. As of 2020, Shiji Group serves approximately 200,000 restaurants, 74,000 hotels, and 600,00 retail businesses (Shiji Group, 2020. To this effect, the Shiji Group (2020) provides that the utilization of point-of-sale software and technologies is the best suit technological alternative for foods and beverages companies in the post-crisis period. In this line, the article indicates that the best alternative in implementing such technology is ensuring that the company's systems can communicate effectively. In this line, Shiji Group (2020) notes that approximately 65% of all purchasing decisions are affected by the availability of point-of-sale features, modules, and functionalities. Shiji Group (2020) further provides one of the transitioning alternatives: the utilization of cloud-based technologies that provide secure, convenient, flexible, and open application programming interfaces (APIs). Some of the accrued benefits include better customer experiences due to software ease of use, multi-function applications and reports building, and capacity to alter the software and hardware accessibility. Having noted these advantages, Shiji Group (2020) provides an example of its software business partnership with Barstock Exchange. They focused on helping Food and beverage businesses extend their capacity through the upgrading of its technological base. This was achieved through the upgrading and integration of the point-of-sale software and their cloud-based software functionality, hence increasing their operational capacity and effi

This article showed us 5 cloud trends coming up over the horizon in 2020. They are multi and hybrid cloud environments will continue to grow; retaining compliance in an increasingly complex environment; organizations will make it a priority to control cloud costs; solution-focused partners; a continued shift to tech on demand.

As technology develops, the fast- food industry has relied on drive-throughs for orders. Drive throughs throughout the United States have grown 33 billion in food sales from 2010-2015. Present-day technological advancements are faster than ever. There has been a shift in lanes ways these fast- food restaurants are relying solely on mobile technology for ordering. Consumers can order on their phones and pay for their meals prior to arriving at the restaurant. Restaurants are also offering curb-side delivery service, where they can notify the restaurant when they arrive, and wait in their cars. Restaurants have recognized the importance of shift to a virtual experience, such as data ordering frequency and patterns. This can benefit repeat customers, and sales. However, mobile ordering can possibly not have the ability to limit a surge in demand of orders. Overall, as technology advances, this can assist companies with serving their customers.

Accounting trends in the hospitality industry are always evolving with technology. Hotels are looking for technology that will catch their data and analyze it all while delivering it in a more user friendly app. Apps, Automation & Analytics are the A's of hotel accounting and technology.

Accounting cannot be without data. In my opinion it is mainly about data analysis. With automation and analytics, it will be more reliable and descriptive. Apps helps mainly in its portability and time efficiency.

The article talks about three future trends called A's - apps, automation, and analytics. It makes examples of their function and works. In my opinion, the A's can use in any industry, not only in hospitality. They can help us work more efficiently and shorter working hours.

The article talks about three trends that are happening now within the hospitality industry relating the accounting topic.

The paradigm shift of technology is shaping the hotel business and powering up the operational and financial performance. we witness increased automation and intelligence in Hotel Accounting Services out there. The robust Hotel Accounting Software even leverage the Business Intelligence, in delivering the insights on key performance indicators . Accounting Software can not only help hotel saving cost but also can help hotel increase productivity

The article discusses advantages and disadvantages of the potential usage of robots in hospitality-related companies. Robots can make people's jobs easier. They should be wisely programmed to communicate with humans. Robots are also used to collect data for future research and analysis.

Nowadays, using robotics in hospitality has become a trend. Although it has proved that robots were not only suitable to do dangerous or repetitive work but also dealing with human guests. Robots can do the work of making humans happy. There is a concern for them in the hospitality field that robots will replace humans and make humans lose jobs. However, according to the article, it is not always accurate since sometimes using robots can make the service more organized and systematic and attract more guests, thus maintaining the needs for human workers. Looking ahead, robots would be data goldmines in the nearest future. They do not replace people, rather, they are tools used by people.

This article discusses how travel agents are starting to increasingly use GDS to book for their clients. The article also talks about how people are looking for the best price and care more about that than the advertisement. Hotels want their guest to direct book through their website in order to not have to share profits with others. Hotels pay fees to be on these websites and travel agents are starting to use it more. The article emphasizes the role that GDS has come to evolve to.

In the modern world we live in today, hotel guests are expecting their rooms to have up to date technology. Hotels are shifting towards more convenient ways of checking in such as self check in and mobile booking. Many hotel bathrooms are even receiving technology upgrades as well.

With Covid-19, being able to perform a self check-in and having a smart room is pertinent. Being able to choose amenities before arrival on a mobile app for example, will be preferable.

This article mentions ways in which an owner can detect if theft is taking place at his restaurant, ways in which this could be prevented and also what do in the case of an actual theft.

This article have mentioned the reality that restaurant theft and embezzlement are pretty common and are causing problems, yet the most owners and managers are not willing to deal with the issues with law enforcement. The reasons include unwilling to ruin the employees' lives and the threshold of establishing a theft case. However, the article suggested that seeking advice from accountants (preferably CPAs) and lawyers is a brilliant way of dealing with these issues. It can give the owner better understandings of the situation, and deal with the wrongdoers in a cleverer way.

This article is about Southwest expanding their GDS game. They are going to enhance their relationship with travel agencies and corporate customers.

Southwest Airlines had long resisted using GDS. It has been known for only allowing direct booking through its website. Last year, Southwest began to significantly increase the amount of tickets offered through GDS. This is viewed as good move for Southwest to help increase sales for the Corporate Travel market. This shows that GDS continues to have a use and airlines who did not use them are now willing to use them to help sell their inventory especially in the wake of COVID-19.

Ted Turner, George McKerrow Jr, and Charlie Ayers led a panel discussing the local and national benefits of making eco-friendly changes at restaurants. While there is a strong push from customers to eat at sustainable restaurants, "the challenge is convincing them (the restaurants) that being green won't hurt profits." The easiest baby step that seems to have the most ROI is simply changing the lighting in the restaurant to energy-efficient light bulbs. At Ted's Montana Grill, this switch saved his company $80,000 in the first year. Other small changes to consider would be to move to plastic-free straws and biodegradable takeout containers. But those things cost money and may be out of reach for many restaurants. Some places are taking it a step further and incorporating sustainable materials into the restaurant design and decor. The last major suggestion from this panel is a large scale shift in fossil fuel subsidies. If those can be removed, green energy can become a more competitive field and thus offer restaurants another alternative and opportunity to become green.

Event planning and in-person meetings have been affected by COVID-19. Event planners and venues are taking major efforts to begin hosting in-person group functions again. To begin safe meetings again, industries have implemented increased levels of safety precautions. One of these steps industries are taking is thermal scanning. Thermal scanning is a product that gives an indication of COVID-19 symptoms. Venues are industries are expected to provide this service to stay ahead of the game. Hotels such as Wynn Las Vegas have implemented thermal cameras at entry points throughout the hotel. At my office, we have also added thermal cameras at entrances to the building. Majority of events have shifted virtually until there is a vaccine. Event diagramming tools can provide event planners with photo-realistic site tours in 3D. Event diagramming can also display to potential clients a diagram of thermal scanning stations, and social distancing floor signs. Event diagramming is a diagramming tool where you can update existing layouts. Overall, it can provide future clients with the satisfaction that events can deliver their vision while maintaining safety guidelines.

This article takes you through why your restaurant may want to switch to a Cloud-Based POS. There are many positive attributes associated with making the switch, such as; data accessibility, cheaper operating costs, easier upgrades, less frequent downtimes, increased security, and adaptability. If you are a growing business, the Cloud would grow with you.

Cloud based POS systems can be apprehensive at first, but we are always satisfied once we are able to se the technology work to keep the business safe, effiecient and also more profitable. Cloud based POS systems are speedy and saves a lot of time which frees up staff to do other things in the establishment.

This article discussed the benefits of switching from a localized POS system to a cloud-based restaurant POS. The article touched on how cloud-based systems provide real-time data and how that instant data could provide a management team real-time solutions. You can save so much time and money by identifying issues before they even arrive. I found it very interesting that with cloud-based systems you have the "ability to add on a mobile POS unit that provides a number of benefits." With this option, your servers do not have to run back and forth to a POS station. They simply have the option in the palm of their hands. It also decreases the time spent waiting for a check or credit card to return to the table. This not only increases guest satisfaction, but helps with table turnover. The article also touched on how cloud-based POS systems are "better enabled to grow with you." They are super adaptable and the article mentioned that restaurants can update their menu whenever, launch new loyalty programs, and help with more precise inventory tracking. This article also touched on setup, increased security, staff accountability, and the ability to make better business decisions due to the cloud software being able to provide extensive business insights. Finally, the article touched on POS cost and how " upfront costs are kept to a minimum and monthly subscription fees are lower." It also ended with a case study about Homegrown Hospitality Group and their switch from Aloha to Upserve Cloud-based POS. It was very interesting and I'd recommend everyone read the brief two paragraphs about how the switch changed their business trajectory.

Events and event planning are evolving into new, dynamic formats. Old models are falling away and technology is giving both planners and event participants an opportunity to grow and revisit the underlying ideas about how event spaces work. "It's been fascinating watching just how fast things have changed," said Brian Solis, principal at Altimeter Group, at a New York conference this year.

This article talks about the ways that technology is changing event planning and events themselves. Event attendees are now looking for more engaged experiences, rather than the old way of merely attending an event passively. Social media plays a huge role in how attendees interact with and even plan an event. Participants can interact with and engage with event speakers now more than ever, with participants sending questions to the speaker via social media or other technology that allows for the speaker to answer audience questions in real time. Data personalization allows for event attendees to receive information about the event, allowing them to be involved in the planning process and during the event itself, whether it's through Bluetooth or geofencing technology. Event attendees can take advantage of augmented reality technology to engage in activities. Wearable technology is becoming increasingly popular, as it allows attendees to get information quickly and easily without any real input on the attendee's part. Mobile apps are now becoming more commonplace for events, as it's easy, efficient, and convenient. Drone technology is now being used at events, whether to take pictures or to stream the event to people who could not attend.

As the world has moved forward with technology, so to has the world of events and event planning. Planners are able to connect with the guests on a whole different level and events have the technology to be able to keep the attendees engaged and interacted. From flying drones to social media, technology has helped selling events a much easier process.