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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.

This particular article on hospitality and tourism accounting states that the global travel industry is expanding at an accelerated rate. Although there are high demands in corporate travel and high level of satisfaction in the economy, the ever growing industry is vulnerable to many risks given by its consumers. Just as much as the guests utilizing these hospitality services are becoming more pressing towards great prices and expressing concern in the quality of service they receive, hotel businesses are adamant about increasing awareness in cost and profit. To balance all these exclusive challenges, hotels are insisting on being educated and equipped with the most up-to-date technological advances to keep up with the ever demanding industry. With this in mind, the article states three methods to conquer the challenges faced today. The first method is to utilize a cloud based system to keep track of all the innumerous activities present to keep the business running. Due to the fact that a hotel is run by an overflowing amount of employees, all with different jobs and tasks, all using different systems respective to their departments, and require several types of pay (part-time, full-time, tipped employees) methods, it is a challenge to keep things efficient without a proper system. This is the reason why the article recommends using a cloud based system to keep track of the daily labor costs, overtime management, daily payroll transactions, and incorporate easy accessibility to reporting functions. The cloud based system will be beneficial in keeping everything in record beginning from the moment an employees clocks in to the end where they receive their paycheck, as well as, the ability to manage transactions. The second method is to centralize all the various sources of data. Hotels have a countless amount of data being stored. That can range from guest satisfaction satisfaction survey and comment reports, PMS data, to financial reports. With all these busy ac

The article discusses how hotels can overcome accounting obstacles. Firstly managing payroll is cumbersome, so a cloud-based reporting system can provide an easy way to monitor labour and manage overtime, and daily payroll transactions. Secondly, hotels have a difficult time to read data as data can come from a huge variety of sources: STR reports, PMS data, satisfaction surveys, comments. Hotels need a centralized dashboard which combines all critical accounting and performance data to assist hotels in making better decisions. Lastly, the article talks about hotels needing a back-up accounting team in case of disasters. In-house accounting teams may not be able to tackle on one-time event disasters and there must be a back-up team in place in times of urgency. The author, Scott Watson, executive vice president of sales and marketing at a cloud-based financial platform, sees that hotels are becoming more "cost and profit conscious" and I agree with him. Technology solutions are what hotels are craving right now to increase revenue, minimize costs, and maximize profits without sacrificing service quality.

This article helps guides hotels in how to overcome challenges when it comes to the accounting department in any situation that deals with staff tracking, how to decipher intricate data, and what to do in emergencies. The article details the usefulness of the Cloud and keeping track of staff members that are FOH and BOH that are both hourly and salary. That the accounting department could simply look them up in the cloud rather than searching through paperwork to understand exactly what their role is in the hotel and pay them accordingly. The article also goes over how having multiple centralized data sources can help accountants understand information from reports, guest satisfaction questionnaires, and other forms of reporting to pinpoint exactly what needs to be changed to become more efficient in the company. Lastly, the article covers how having back up accounting teams could be a definite positive just in case of emergencies (i.e. weather) so accounting can still be in progress no matter what situation occurs and the hotel can run smoothly.

This article touches on the technologies incorporated in events today that make every day life experiences better, faster and more efficient. It was mentioned that a large majority of event planners believe that using event related apps increase the guests satisfaction levels. Applications like kyazoonga, an online ticketing provider for event planners and customers, are becoming more and more prominent. A new trend for event technology is using data insights about customers.Using this information they are able to hone in on their target market and use it to help drive whatever they believe will help their next event be a success. Customer loyalty programs are also becoming a trend as well as the use of social media to better access past, present and future guests.

The hospitality industry is a major target for cyberattacks, resulting in sensitive guest information being compromised. When these attacks happen it leaves guests restless, because they know or believe their information is not safe. This article discusses this issue and how security can be improved to avoid these attacks.

The article titled, "Improving data security in the hotel industry lets guests sleep peacefully" shows how the breach of data security can be anywhere. As technologies improve, so do ways in which cyber security can become at stake. According to this article, "Hotels are obligated to maintain the physical security of guests and their belongings during their stay-if guests don't feel safe staying in their room or leaving their belongings there, they won't continue to patronize that hotel brand. The same thinking applies to data security: If guests aren't convinced that the hotel is keeping their personal and financial data secure, they will take their business elsewhere". Thus, hotels need to make sure they are safeguarding information such as their payment information as well as other confidential information. Hackers are becoming even more sophisticated, where they can target specific industries, such as hotel industries since guests speak with hotel representatives over the phone to provide payment information. In the even that a hotel's data has been compromised, what is its responsibility? First, they should send the client a letter of apology, and then handle the complete process efficiently, so the client can at least feel they re supported. The avoidance and handling of data breach is becoming even more common nowadays with the rise of technology.

Hotels are starting to see a trend in high technology that are becoming more appealing to guests. Two hotels in China began using facial recognition to check in there guests in 2018. The article states that because of the good feedback from guests that enjoy these high-tech hotels, this technology will become mainstream in the hospitality industry by 2025. Despite all of the excitement behind the new facial recognition and the big role artificial intelligence will play in hotels, some industry professionals believe that it takes the personality out of the hospitality industry.

The article reports the state of Hawaii's hospitality and tourism industry is beginning to become more aware of how going green initiatives will effect the economy in a positive way. A management member of a consulting firm stated the efforts the hospitality and tourism industry need to be known to the community, guest and the staff of the hotels. He feels the research, figures and strategies need to be posted so everyone understands their role in the advancement of the states main industry's desire to become more sustainable. Hawaiian Airlines along with various hotels are reducing waste and sourcing more local items with in their outlets.

The article describes about the importance of telecommunication in the hotel industry. It also mentions the importance of choosing the right equipment, so the guest is connected to their friends and family. It also provide us an information that it is necessary to have an appropriate vendor so there is no problem once the equipment is installed in the properties. The equipment should also provide a wide range of network which would support all of its guest staying in the hotel.

Telecommunication has become the forefront in the hospitality industry, and it is a increasingly a vital priority for customers. Whether guests travel for business or pleasure, they always want to stay connected to their family and friends. In order for the hotel industry to choose the right telecom equipment that will fit the customers needs but also the hotels needs, they need to the following; effective and user-friendly telecom equipment, reliable and secure messaging software, and ample but dependable internet access. Hotel guests want the ability to feel right at home or right and their workplace when they are staying on hotel property, so having the best equipment available to a guest not only in their hotel room but also in other areas, such as library, conference room, pool area, restaurant, or even a bar. The guest wants to feel like they are handling their work business with no software or network interruptions, no matter what area in the hotel they decide to work from. With technology being such a top priority in the hospitality industry or any industry for that matter, ensuring customer satisfaction and repeated business, will anticipate a clients needs.Most importantly, before purchasing your in-room telecommunications equipment, it's best to have a good idea of your current and future telecommunication needs. Telecom equipment for the hospitality industry includes a variety of options. The most cost-effective approach is to acquire equipment with only the options you need or foresee a forthcoming need for.

Telecommunication is becoming more important in hotels in general. Choosing all the right equipment and stuff is great but if you dont have a great network to run all this equipment to allow your guess to telecommute. This will allow meeting planner to coordinate events for those not able to travel to meeting and still get the necessary information from the conference there colleagues are attending. It be very interesting to see where this will go.

"The Motorola Solutions 2011 Hospitality Market Barometer reveals that 91 percent of hospitality decision makers realize the increasing importance of mobile and wireless technology, while 78 percent recognize the role mobility plays in ensuring a competitive advantage for their business. As a result, hospitality venues are investing in new technology, as well as powerful wireless networks to handle greater data volumes and increasing demands for high-speed access from the customer and mobile workforce. "

The article analyzed why hotels do investment to It in 2011. It concluded three main reasons, which are elevating the guest experience, empowering the mobile worker, and enabling operational efficiency. It's already 2013 now and things can become different. Hotels should invent carefully according to its specific necessary and customers' necessary.

Dear team! I found an article, very old but to me, very actual and interesting about how the Internet Technology is improving and progressing, and the investment bring benefits only. In 2011 , only 4 years ago, we can see that the companies were having a clear plan to improve the communication system. By introducing wireless, tablets, WLANs , to improve network reliability... Today we have it all on hands. We are using all the devices online , wireless and with no problem to access. No cords on the floor, no telegrams ... Internet technologies is a big progress in our century and is developing and growing, by leaving some of us behind. :)

This article discusses the future of PMS systems as the author sees them. It is hard to think that properties would be able to switch PMS systems so easily due to many years of data being stored on the system. Companies like Marriott and Hilton have massive PMS systems that would have to be transferred. While I could see these systems moving to the tablet systems, it would take quite a bit of work to do so. Training would still be ab issue as well, but the updated systems would make it a quicker training process.

As the world becomes more dependent on technology, the opportunities to exploit or steal one's personal information becomes easier and easier. Passwords and pins can be stolen. Manager cards can be handed out or duplicated. Bio metric information is the one thing that remains a secure way to ensure proper protocols are being followed. Short of cutting off someone's finger, it is impossible to duplicate an individuals bio metric information. This is proving to be a very cost effective means of ensuring compliance to company procedures. The savings in time card fraud, or improper void protocol outweigh the expense of implementing the system. I believe that this is a sign of things to come, as our world transitions to a more electronic state; Bio metric information is the only secure means of insuring the actual "user" is the one performing the specific task.

This concept is very interesting as I deal with timecard fraud often. However, without the option of over riding or using a paper time correction, I wonder if it would actually waste some time waiting for a manager to come and fix the problem.

As a manager, I prefer the biometric option for punching in and out of employees. The only problem I have seen with this technology for employees is for those that work in laundry or dish washing areas. The constant exposure to heat and water on their fingers causes their fingerprints to distort temporarily. I find that I have to utillize less dominant fingers to make it work for these associates. I have made it mandatory for any associate to speak with a manager if they do not punch in or out correctly.

Information technology has become extremely important to the hospitality industry. It has helped with customer service, financial status, and in many other ways. With so much changing with information technology it is vital that companies keep up with all these changes in order to not fall behind. As stated in the article if information technology is implemented correctly it can help a company become the most efficient it has ever been. This has also helped improve the communication between companies and their investors, now communication can be done via email or call in a matter of seconds. As I stated above it has also improved guest service and communication, this includes apps, messages and allowing guests to have immediate assistance with any of their needs. When you improve customer service and create an open window for communication, it brings in more guests to want to stay with your company and give their business to you. Not only this but, technology has helped companies save money by needing to provide less staff. This is why information technology has helped so many companies succeed financially.

It seems that stores have just begun to jump on the self-checkout process. However, the self-checkouts are old news, the technology that is coming out now, known as "Grab and Go" is creating an even more automated process. This technology can allow you to take an item off the shelf (update inventory immediately) and simply walk out of the store, without ever having to take out your wallet. Spending money is becoming easier and easier, allowing consumers to consume more than ever. Some pros of this technology include, customer loyalty (personalizing the customers experience), lower overhead (saving money on labor costs and extending hours), and reduces shrinkage (real-time inventory tracking). Technology is improving so quickly that it is hard for companies to keep up and stay up-to-date. For example, the self-checkouts have just become a norm; how long until they are fully replaced by "Grab and Go?"

In the future, jobs will look different, allowing more and more people to work as digital nomads from anywhere in the world, including onboard planes thanks to the high-speed in-flight Internet. They will want to have a platform to be able to book any kind of transport, be it air, ground or sea on an on-demand basis. And this is exactly what kiwi.com is building with the Virtual Global Supercarrier.

This article highlights the topic of Data Mining and the way in which companies use it to become informed and discover new ways to become more effective. Data Mining can be used to increase revenue, cut costs and identify growing trends. This article will feature key examples from major companies such as Oracle, Wal-Mart and the NBA, all of which use Data Mining to enhance their business performance. 

E-marketing is also known as Internet marketing, web marketing, online marketing or digital marketing. As we know, digital marketing gots lots of advantages. The first one is content marketing. The issue in this strategy is The key issue in this to get the content right. This strategy needs to be engaging and captivating so as to draw an audience. The second strategy is SEO (search engine optimization). This strategy aims to improve the rankings of the company. The third strategy is the SEA. (Search engine advertising) This can achieve this almost instantly. The fourth one is expanding your social media presence. The social media marketing strategy will aim users for social networking sites including Facebook, Twitter, Instagram, Snapchat, Pinterest, and LinkedIn. The fifth one is email marketing. Email marketing requires creativity. The sixth one is e-reputation. A good e-reputation marketing strategy is multi-disciplinary that often requires input from digital marketing and public image consultants. The last one is user experience. Good user experience is determined by several factors.

In all sectors of economy the hospitality industry is affected the most by digital trends. Content marketing should be a big focus for hospitality like the photos, videos and articles you post about your business. SEO or search engine optimization should be used to improve rankings on search engine results page. Expand your social media presence but post 3-4 times a day with content that is relatable to the current trends going on.

This article goes over how in todays world technology is how everyone one is communicating and because of this digital marketing is the way in. They go over seven reasons why its so beneficial to utilize.

Brendan Ciecko is the founder of the Cuseum software. This software was created because Ciecko identified a problem with the technology that museums have or lack thereof. "I was working with a number of museums and was constantly hearing of the frustrations when it came to providing a certain level of experience to visitors on site" (Ciecko). The technology or procedures used in the museum were generally outdated. Now with this new software, guests can download the app on their phone and are able to navigate through different tools and options that the particular museum has for them. The guests will be able to select tours through exhibits that are available at the museum once they walk in. The article also mentions the new product that Ciecko has invented, digital membership, which makes the membership process for the museum more convenient. This makes the process of any application type service in the museum digital. It not only makes all of these processes faster but it also saves paper. In my opinion, I think this a great app. I currently work at a museum and I believe that creating an app that enhances customer experience right when they walk in is worth investing in. It provides guests with highlighted tours and exhibits that are available. Though people at the museum can simply tell the guests where to go and give information about the exhibit, they can easily find it on the app to locate what they are mostly interested in. The app also works as a great marketing tool for museums. It allows visitors to share their favorite items or exhibits on their social media sites and allows them to participate on interactive discussion boards. I think this will help promote specific exhibits, especially if there are tags on the post like #AviationExhbitit or #GizmoCity. Those "tags" are exhibits that I have in my current workplace. With adding a guest's location to the app, it prompts the guests to sign up for a membership. The guest will no longer have to go

This article makes me proud to work in the hotel industry. Of course, there's financial motivation for being energy efficient, but hey, we can pretend we also do it because it's the right thing to do. As long as owners and operators see opportunities to continue to reduce energy costs, they won't stop. I have to believe that hotels will continue to look for ways to become even more efficient to the point of eliminating their carbon footprint. The hotel business is one of the few industries that have a strong incentive to dramatically reduce energy costs. The fact that the EPA's ENERGY STAR program is working on a new, hospitality-specific scoring system in response to the industry's specific needs and growing demand is pretty cool. I can see such a system becoming measurements for bonus payouts like market share is with Smith Travel Research and further accelerating the work around sustainability in hotels. A great point is also made regarding the retention of employees. The article argues that employees will feel that management cares about their health and well-being. But I would also say that employees want to work for hotels that do what's good and right for our world. You want to work for the good guys. Individual travelers, companies and meeting planners are more and more looking to stay or do business with hotels that are eco-friendly. Thirty six percent more travelers are expected to choose more eco-friendly travel options than they did in 2016. That statistic should definitely get the attention of owners currently in the process of planning a new hotel. If you want a competitive advantage from the day you open your doors, fill up that building with green initiates and let the green slide right down to the bottom line.

This article talks about the future of event planning. The efforts hotels will have to make to be competitive in the industry. It also talks about the technology that will have to be offered such as VR (virtual reality).

This article is very interesting because it lists all the ways that event planning will be in the future because of technological advances. It talks about autonomous staff, 3D shopping, made-to-order venues, personalized longevity health spas, pop-up hotels, supersonic air travel, sustainable hotels, personal travel avatars, and DNA authorization. The article describes the benefits and downfalls to each one and puts emphasis on the fact that these advances are closer than we can imagine.

Technology is in the hands of nearly every person this day and age, so why not take advantage of it? When it comes to hospitality people love to see pictures to see both the venue and the experiences people are having. it lets them imagine their own personal experience and creates a ideas to set up their own personal experience. Digital Marketing also allows to build relationships with clients an is a great place to advocate. It also allows for influences. On top of that, it will allow for people to see exactly what functions, features, attributes, etc. is going on without the hassle of having to call and find out. Technology also allows for easy work for the employees. They are able to use smart watched or portable tablets so they can be mobile with assisting clients and guests with their needs and questions. Digital marketing allows for testimonials of the great place it is.

This article introduces 2017 digital marketing trends for the hospitality industry. The first trend is visual content. Instead of the explanation contents, pictures will influence more to catch customers' attention considering the characteristics of the hospitality industry. Second, social media becomes a great intermediate between potential customers and the business. The business in the hospitality industry should be involved in social media to expose their brand and build client relationship. Third, virtual reality becomes popular to demonstrate the various functions and features lively. Also, adopting wearables or using storytelling production can be a new trend as a marketing tool. It can produce ancillary revenue and get customers more engaged in brand concept. Lastly, digital marketing should be monitored and evaluated for sales trends, supplier orders and employee overtime in a real time to improve more marketing strategy.

Tshifhiwa Tshivhengwa stated "the biggest challenge that comes with technological advancement is the probability of replacing existing staff with a technological device, since the device can do the same job just as well." This statement holds true for every single country in this world. The more technologically advanced we become, jobs will start to be replaced by technology that could do it just as well if not better than a human. For instance, the new check-in kiosks are becoming more and more a hit, and as they do you'll see hotels switch to them quicker to cut labor cost. Investing into I.T. in the hospitality industry is an everyday gamble because today they could come out with something that could be better of us at the front desk but tomorrow they could release something 10x better than this.