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Hui Chen

What's global distribution system? - 5 views

  • A global distribution system (GDS) represents a computerized system used for managing different transactions within the air travel and hospitality industry. At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
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  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • However, due to the fact that GDS’ were originally created to distribute plane tickets, their database structure was specifically designed to store information about this product.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and mor
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • However, due to the fact that GDS’ were originally created to distribute plane tickets, their database structure was specifically designed to store information about this product.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • As mentioned before, one of the first products distributed by GDS was hotel accommodation. Hotels have loaded the information related to their different types of rooms, description and price categories within the airline reservation system database. When this information became available online, thousand of clients started making bookings all around the world. This fact was advantageous for each participant. Hotels benefited from distributing their products to a larger audience, travel agencies had the opportunity of booking more products through their computerized system and GDS benefited from a growth in booking volume, which helped them to lower operating costs.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • Nowadays global distribution systems interconnect almost everything within the hospitality industry, from hotels to car rental companies and travel agencies. There are four major GDS available: Amadeus, Galileo, Sabre and WorldSpan. Some of the advantages provided by GDS are their availability (99,9% of the time), their response times (up to a fraction of a second), their multiple booking capability, as well as their top of the line architecture. On any given day, a GDS will be capable of accessing over 50000 hotels and approximately 1000 airlines. Through GDS systems, people are able to book various hotel rooms, tours, airline seats, cruises and even limousines.
  • The working idea behind a GDS is this: any GDS provides services to an electronic shop for all information related to travel and reservation-related needs. In other words, the GDS has become a very important distribution channel for any product sold through travel agencies. Basically, if a vendor wants to be sold through travel agents, he must be listed on a GDS
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    The first products distributed by GDS was hotel lodging reservation system, such as different types of rooms, description and price categories with the airline system. GDS has been increased on the travel market, such as number of flights. Travel Agencies (TA) also use GDS to offer complimentary products, such as car rental, hotel and other related forms of accommodation, bus tickets, vacation tickets, yacht rides and even flowers and champagne,That means, GDS has become more important distribution channel for nay product through TA. Also TA had more opportunity of more products their own system and GDS system from increase number of booking volume with lower operating costs. It was the first and major goals of GDS being used in the hospitality industry. Even though hopitality ingustry use GDS system, there are few problems, such as show only simple structure. For example, there are 4 different kinds od room and 3 categories od comfort, it means they have 12 different kinds of combination. Because of the GDS database structure, only there 12 combination could be displayed. It took a while to fit all the multiple types of comport rates, rooms and services in GDS standard database structure. Instead of choosing GDS system, they cans choose other alternative system with develop several computerized system to make a database structure closer to product specification. Nowadays, GDS using all of the hospitality industry from reservation hotel rooms to car rentals and Travel Agencies. Through GDS as globally, people are able to to book different kinds of hotel rooms in different destination all around the world, tours, airline seats, cruises and eeve limousines.
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    Global Distribution System were develop and meant only for the airline reservations. The impact of the GDS on the travel industry is that it increase competition, more flights were available and this reduce cost. With the increase and cost reduction travel agents start to see decrease in their earnings they received from airline sales, so with the GDS they were able to book other services such as hotels and car rentals with airline reservations. With GDS it is much easier and convenient to make a reservation from flight, hotel and car rental because everything is link together.
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    Summary of a global distribution system (GDS) A global distribution system (GDS) represents a computerized system used for managing different transactions within the air travel and hospitality industry. Historically, GDS' were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a result, GDS' are now implemented for hospitality industry as whole. The first major impact that GDS had on the travel market was that the number of flights increased which led to increase competition among the players and this brought down the overall prices. The main purpose of a GDS is to provide services to an electronic shop for all information related to travel and reservation-related needs and one of the first products distributed by GDS was hotel accommodation. Hotels throughout the market uploaded the information related to their different types of rooms, description and price categories within the airline reservation system database. When this information became available online, thousands of clients started making bookings all around the world. This fact was advantageous for each participant. Hotels provided GDS with a challenge of fitting all the different sizes, styles, amenities, and etc. It took a while to fit all the multiple types of comfort rates, rooms and services in a GDS standardized database structure. A general strategy was therefore needed. Rather than loading hotel products inside the GDS, the accepted solution was to develop several computerized systems with a database structure closer to product specifications. Nowadays global distribution systems interconnect almost everything within the hospitality industry, from hotels to car rental companies and travel agencies. There are four major GDS available: Amadeus, Galileo, Sabre and WorldSpan.
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    Looking at these numbers it becomes very clear how important GDS are to the hospitality industry, more rooms booked means increased revenues and more jobs for hospitality professionals. I am sure that this technology will evolve and transform so it is important to stay current and understand how to get the most out of it.
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    What's global distribution system? This question is kind of cliché in our group, but this article gives a very good introduction about GDS and it's quite easy to understand comparing to many other articles introducing GDS. This article tells us: How GDS develops from being used only in airline industry to being generally adopted in hospitality industry; What is the working idea behind the GDS; Four major GDS including Amadeus, Galileo, Sabre and Worldspan; Advantages provided by GDS.
kathy_douglas

SEC charges Diamond Foods with accounting fraud - SFGate - 0 views

  • On Thursday, the Securities & Exchange Commission charged Diamond Foods - the San Francisco purveyor of Kettle Chips, Pop Secret and Emerald Nuts - and it former chief financial officer withaccounting fraud, the finding of a two-year investigation into payment schemes involving walnut suppliers designed to "falsify costs ... boost earnings and meet estimates by stock analysts." It's just the latest shoe to drop for a company that was once close to becoming one of the biggest snack food retailers in the world.
  • "Diamond Foods misled investors on Main Street to believe that the company was consistently beating earnings estimates on Wall Street," said Jina Choi, director of the SEC's San Francisco office. "Corporate officers cannot manipulate fiscal numbers to create a false impression of consistent earnings growth."
  • after a three-month investigation, that $80 million in payments to walnut growers in 2010 and 2011 were not properly accounted for, and demanded a restatement of earnings.
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    Diamond Foods was one of the largest snack foods corporations that were involved in an accounting fraud. This was an investigation that was going on for two years that is finally being settled. The former CEO was accused of falsifying costs in order to boost numbers on the stock market. The costs of walnuts had increased, however, former CFO was hiding that fact and misleading the market to let them believe Diamond Foods was beating earning estimates each time. Diamond Foods was acquiring Pringles but fell apart due to the scandal; this would have been a $2.5 billion deal. Talk of bankruptcy, stocks taking a nose dive, and a breach in loans made the banks take a step back, however, the company persuaded them to continue holding out for them. Diamond now has a new CEO and things are slowly starting to turn back around for the company. It's unfortunate that companies feel they have to lie, cheat and steal just to come out ahead. Some companies are getting away with it, but eventually it all goes back around.
lhick022

LEED rating system | U.S. Green Building Council - 0 views

  • LEED is for all building types and all building phases including new construction, interior fit outs, operations and maintenance and core and shell
  • For existing buildings that are undergoing improvement work or little to no construction. Includes: Existing Buildings O+M also includes applications for Schools, Retail, Hospitality, Data Centers, and Warehouses & Distribution Centers.
  • For single family homes, low-rise multi-family (one to three stories) or mid-rise multi-family (four to six stories). Includes: Homes Multifamily Lowrise Multifamily Midrise
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  • LEED recertification is an important step in protecting your building asset. Recertification helps you maintain and improve your building while keeping your sustainability investment in place
  • Platinum 80+ points earned Gold 60-79 points earned Silver 50-59 points earned Certified 40-49 points earned
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    This article is about what can be LEED certified and how to go about getting certified. I just learned about this topic in my Hosp. Fac. Enviro. Sys. class, when I learned about it, I didn't realize that you have to be reevaluate.
mandalysha

How Hotels Can Drive Increased Revenue and Loyalty By Offering a Reciprocal Value Excha... - 1 views

  • As privacy concerns related to data capture reach a fever pitch, consumer data – perhaps better described as the critical currency which powers personalization – is becoming a protected commodity.
  • Over time, privacy and personal data protection concerns began competing with consumer desire for a data-driven, personalized experience.
  • Industries like hospitality, which rely on retrieving traveler information to curate more relevant messaging, offers, experiences, and loyalty rewards, must adjust their approach.
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  • Data is valuable, and it’s due time for hotel operators to establish a two-way value exchange that incentives guests to readily share their information to unlock a heightened experience.
  • hotels cannot offer a great guest experience without prioritizing data protection and transparency; one tier of service (personalization) cannot come at the expense of another (privacy and consent)
  • If hotels elevate their efforts to meet guests’ expectations for customized offers and experiences, and treat personalization as a strategic priority, they will see immediate benefits that deliver long-term results.
  • 80% of consumers are willing to share personal data to earn loyalty program benefits. 70% of consumers are willing to share their data to receive special discounts and offers. 71% of consumers will shop more often with brands or retailers that personalize their communications.
  • Next-generation technology sets the stage for this dynamic by allowing hospitality brands to offer their guests data control and value in a seamless, scalable fashion.
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    With privacy being a concern in the hospitality industry, hotels are incentivizing a customer sharing information with a heightened personalized experience. Customers are willing to share personal data to earn loyalty program benefits, receive special discounts and offers, and will shop more often with those brands that personalize their communications.
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    Even though we are aware that generally, individuals are more inclined to do things when there are benefits to them, this new exchange of data for access to certain benefits has now placed that transaction at the forefront of my mind. This is because schemes are not being applied to secretly obtain customers' personal data, but rather the customers are willing to share them. This exchange is beneficial to guests since they earn travelers' consent, unlock richer experiences, better service, and high long-term loyalty. In my opinion, this is a fair trade. Thanks for sharing this article on "How Hotels Can Drive Increased Revenue and Loyalty By Offering a Reciprocal Value Exchange with Guests."
laura kaczkowski

Green and Eco-Friendly Hotel Amenities - 0 views

  • Mayakoba, Riviera Maya
  • uses no motorized vehicles throughout the entire property. Instead, guests can ride electric golf carts, bicycles, or electric boats on more than nine miles of canals.
  • Palmer House Hilton in Chicago
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  • rooftop garden last summer to provide fresh herbs and vegetables to the hotel’s Lockwood restaurant.
  • “barefoot beekeeping” system, which is a chemical-free, low-impact, sustainable and natural approach to producing honey.
  • the greenhouses El Dorado Royale Resort in Rivera Maya, Mexico hope to produce 211,699 pounds of fresh produce this year
  • can tour the 100,000-square-foot growing space
  • plans his menu around greenhouse ingredient
  • oga Ranch in Napa Valley
  • the sheep make ideal groundskeepers because they are only 24 inches tall at full size, so they can’t reach tree branches or trellised grapes.
  • 2010, the resort has been collecting its compostable food products for the Upper Valley Disposal and Recycling Program, which then processes and shares the rich compost with area vineyards, farms, and resorts
  • Habana Outpost, where diners can ride a bicycle that powers the eatery’s blender
  • If they hop on the hotel’s exercise bike and generate up 100 watt hours of energy, they’ll earn a free meal
  • and is part of the hotel’s larger commitment to eco-friendliness, which includes a CO2-neutral building, solar panels, and groundwater-based heating and cooling systems.
  • their manure helps fertilize the soil,
  • At the Treehotel in Sweden, rooms are constructed without harming the forest, plus they have eco outdoor wood floors and use green hydroelectric power.
  • restaurant lights are powered by wind and solar energy; the staff provide glass flasks instead of bottled water;
  • The Hawaii Island Retreat on the Big Island’s north coast produces its own electricity through solar cells in photovoltaic panels on the roof of the property’s energy building.
  • Lake Nicaragua's Jicaro Island Ecolodge is operated by 2010 World Savers Award winner Cayuga Sustainable Hospitality
  • All of the wood used for construction or furniture came from trees downed by Hurricane Felix, which hit Nicaragua in 2007, and most of the wastewater is recycled to irrigate the trees and plants.
  • guests are given oxo-biodegradable bottles to use during their stay;
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    In the article, "Green and Eco-Friendly Hotel Amenities" it talks about how many different hotels are doing their part and keeping the planet green. The first place that the article talks about is the Mayakoba, Riviera Maya, it uses no motorized vehicles instead the guests can use electric golf carts or electric boats to ride around on the nine miles of canal. "Each resort also has an onsite biologist to lead educational boat tours through the lagoons." At the Palmer House Hilton in Chicago they built a rooftop garden to provide fresh vegetables and herbs for the hotel's restaurant, they are also considering making space to put several beehives, this will lead to a natural approach of producing honey. One of the most interesting and easy ways to stay green was at the Calistoga Ranch in Napa Valley; they have sheep that eat the grass replacing all lawnmowers and on top on that, their manure helps fertilize the soil. It's a win, win solution! In New York they have a restaurant called Habana Outpost and you really have to work for your food, literally. At this restaurant you have ride a bike that powers the eatery blender and if they generate up to 100 watts of energy, they will earn a free meal, such an amazing and creative idea! This "is part of the hotel's larger commitment to eco-friendliness, which includes a CO2-neutral building, solar panels, and groundwater-based heating and cooling systems." At Jicaro Island lodge in Nicaragua, they used all of they wood from trees that were knocked down in Hurricane Felix and they also use a good majority of their wastewater that is recycled to irrigate the trees and plants. Before reading this article, I never knew that so many hotels were doing their part at staying green and I'm surprised by all the new and unique ways that they have come up with, it gives me hope for the future!
Marcos Oliveira

LEED Certification and Other Green Initiatives Can Be Hotel Marketing Coups , by Carl R... - 0 views

  • from becoming airborne. Green Seal is a non-profit
  • prevent particles from becoming airborne. Green Seal is a non-profit, third-party certifier
  • n the United States, hotels represent more than 5 billion square feet of space, nearly 5 million guest rooms, and close to $4 billion in annual energy use
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  • January 2010, only 40 hospitality properties have achieved so-called LEED
  • certification.
  • LEED is a voluntary, third-party green building certification program that awards points to buildings for satisfying certain green building criteria. In order to be LEED-certified, a building has to implement a plan to reduce building operating costs, its environmental footprint, and resource consumption such as water and energy use.
  • developed by the U.S. Green Building Council
  • non-profit organization
  • intended to provide building owners and operators a basic framework for identifying and employing practical and measurable green building design, construction, operations and maintenance solutions
  • LEED for New Construction and Major Renovations and LEED for Existing Buildings: Operations & Maintenance are the programs which have the most applicability to hospitality projects.
  • In addition, each rating system, including LEED for New Construction and Major Renovations and LEED for Existing Buildings: Operations & Maintenance, is organized into six credit categories
  • sustainable sites; water efficiency; energy and atmosphere; materials and resources; indoor environmental quality and innovation in operations.
  • Once the essential prerequisites are satisfied, developers can thereafter chose which optional credits to pursue in order to obtain certification. Certification levels start at Certified and increase to Silver, Gold and Platinum designations.
  • first hotel to receive LEED Platinum Certification was the Proximity Hotel in Greensboro, North Carolina
  • Proximity Hotel uses 39% less energy and 33% less water then a comparable sized hotel. In addition, the Proximity Hotel was able to recycle 87% of its construction debris
  • By using highly reflective concrete and/or open grid pavers, hospitality companies can help reduce the summer cooling loads for their building, which in turn reduces energy use and pollution generation.
  • installation of 100 solar panels on the roof, which heat about 60% of the hotel and the hotel restaurant’s water; use of geothermal energy for the restaurant’s refrigeration equipment; and installation of the Regenerative Drive model of the Otis’ Gen2 elevator which reduces net energy usage by capturing the elevator’s energy and then feeding it back to the hotel’s electrical grid
  • Many hospitality companies have already introduced green initiatives, such as the use of compact fluorescent light bulbs, offering linen and towel reuse programs as well as various recycling programs
  • Not only are these green initiatives environmentally responsible, but should a hospitality company at some future point seek LEED certification, these green initiatives would earn them points in furtherance of the certification process
  • Paving Parking Lots with Highly Reflective Materials or Open Grid Pavers
  • purchased 40% of the building materials and 90% of its furniture locally and even restored 700 feet of an adjacent stream. Proximity’s most impressive features, however, include:
  • Installing High-Efficiency Plumbing Fixtures
  • Landscaping with Native Plant Species
  • native plants reduce more carbon dioxide in the atmosphere than traditional mowed grass due to their extensive root systems and increased ability to retain and store water
  • Green Cleaning – Using Sustainable Cleaning Products, Materials and Equipment
  • A green cleaning program may include the use of Green Seal Certified household cleaners, Green Seal Certified laundry products, micro-fiber cloths, and dual motor vacuum cleaners with HEPA (high efficiency particulate air) filters that prevent particles from becoming airborne. Green Seal is a non-profit, third-party certifier
  • third-party certifier
  • Using Local Materials and Goods
  • While not every hotel or hospitality company may be in the financial position to seek LEED certification or undertake costly capital expenditures, there are numerous green initiatives that each and every hospitality company should be considering to improve their efficiencies while also attracting green conscious consumers
  • A simple Google search of “hotels” and “green initiatives” returns more than 27,000,000 hits
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    In the United States, hotels represent more than 5 billion square feet of space, nealry 5 million guest rooms and approxiamtely $4 billion in annual energy use. As of January 2010, there were only 40 hotels that were LEED certified. The acronym LEED stands for Leadership in Energy and Environmental Design. LEED is a voluntary, third party green building certification program that awards points to buildings depending on their sustainable practice being implemented which includes building improvements, environemntal footprint and water and energy use. LEED was developed by the U.S. Green Building Council, a nonprofit organization. Its main purpose is to provide building owners and operators with a basic framework for developing and implementing sustainable practices. The first hotel to ever be certified according to LEED criteria was the Proximity Hotel in Greensboro, NC. This hote received Platnium status for being able to recycle 87% of its construction debris, purchasing 40% of the building materials and 90% of its furniture locally. Installation of 100 solar panels, use of geothermal energy for the restaurant's refrigeration equipment and instllation of a Regenerative Drive model for its elevators made the Proximity Hotel a benchmark hotel. There are several practices that can make a hotel conserve energy and make it sustainable such as using flourescent lightbulbs, offering linen and towel reuse programs, paving parkig lots with highly reflective materials or open grid pavers, installing high-efficiency plumbing fixtures, landscaping with native plants and using local materials and goods. These will not necessarily lead to LEED certification but will definitely earn points towards obtaining that accredidation. The use of sustainable practices not only helps conserve the environment but also saves money in the long run. Through water conservation techniques, recycling and linen and towel reuse programs, the hospitality industry wins two-fold,
anonymous

Kayak Is Worth $31 With Revenues From Advertising, Hotels Driving Growth - Seeking Alpha - 0 views

  • By providing an easy comparison of fares across various websites, Kayak makes the travel search easier for its users.
  • earns its revenues primarily through advertising and referral fees earned from its suppliers.
  • We estimate the advertising division to contribute close to 55% to our price estimate of $31.05 for Kayak
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  • the company started trading under the "KYAK" ticker on NASDAQ from Friday onwards. We have a price estimate of $31.05 for Kayak, which is at a premium of close to 20% to the current market price.
  • We estimate that the company earns higher revenues from advertising compared to referral fees per query
  • We expect Kayak's online ad revenue per 1,000 queries to go up to $268 by the end of our forecast period.
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    This article, posted on seekingalpha.com discusses the success behind Kayak. Kayak is an OTA that "gives consumers a one-stop research solution to best fares along with other value-added services like flight status updates and pricing alerts." However Kayak's revenues stem primarily from advertising and referrals. The article futher breaks down the percentiles of the profits with ads at 55% and referrals at 38%. Kayak's stock is at a premium and only seems destined to improve. A very interesting graph portrays estimates of its improvements for both ads and referrals.
kathy_douglas

Ebookers launches mobile-focused rewards programme - Travolution.co.uk - 0 views

  • The company claims to be the first online travel agent that will allow customers to earn rewards on flights, hotels and packaged trips all in one place, with both business and leisure travellers being rewarded with discounts, bonuses and exclusive added value services.
  • Company research identified a continued lack of loyalty in the industry as 69% of consumers say they will visit more websites to find the right price and will use more comparison sites (41%) in the next 12 months than ever before to plan their holiday.
  • Ebookers spokesperson Rob Define said “Following extensive research to identify exactly what it is our customers are looking for in a rewards programme, we’re extremely excited to launch Bonus+, a programme that will ensure our customers get instant access to rewards, resulting in a little more sizzle, a lot more zing and a few more ‘oh go-on-thens’ out of their holiday.
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    Ebookers.com has a new rewards program being introduced called Bonus+, with a focus on mobile use. They have done research and developed a program that allows travelers to earn rewards on hotel bookings, packaged trips and flight bookings. Bonus+ offers a membership which has three tiers to their program. If customers reach gold or platinum status, they offer a 24-hr support for hotel bookings and free upgrades at participating hotels. If customers are to book through their mobile app, they receive more discounts on bookings. This concept is very interesting and I'd like to see how much it will effect the status of travel agents. It will be interesting to see how many more companies will try to come out with rewards programs like Bonus+.
kakaboshi

Council Post: New Pay Trends: How Today's Workforce Is Reshaping Payroll - 0 views

  • It’s been over 40 years since direct deposit was introduced, arguably the last major development in the payroll world. It’s amazing to think that, with the speed of technological innovation these days, you have to go so far back to find the most recent payroll innovation that had such a significant impact on both employees and employers.
  • technology has infiltrated the payroll landscape in recent years, innovating time reporting and flexibility in pay. Payroll is also being forced to adapt to a workforce comprised heavily of two types of employees: those who require immediate income, and millennials and Generation Z workers.
  • Paycards According to a 2017 FDIC national survey, 25.2% of U.S. households are “unbanked” or “underbanked.” Those who are “unbanked” do not have any traditional banking relationship (i.e., a checking or savings account), while those who are “underbanked” have a financial institution account but also obtain services from providers outside the banking system.
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  • 78% of Americans who are living paycheck to paycheck and who are financially unprepared for an unexpected expense. They are often hourly employees in service-based industries, such as health care, hospitality, quick service restaurants, retail or nursing.
  • To combat this, many companies are implementing artificial intelligence (AI) for predictive timekeeping, rapid detection of irregularities, and even “smart” time verification based on video feeds and facial recognition. 
  • Research by Aite Group shows the use of paycards is expected to increase through 2022. For employers, these cards, backed by Visa or MasterCard, can provide benefits such as reduced payroll processing costs and the ability to move to fully electronic payment mechanisms.
  • Artificial Intelligence For Time Management
  • Workers increasingly expect employers to be okay with them working on a personal device, rather than a work-issued system. This adds a level of complexity for companies trying to verify payroll hours. Fraud and forgetfulness can lead to inaccurate records and added overhead.
  • Direct deposit of earnings for unbanked and underbanked populations isn’t a viable option, which has made the rise in the use of paycards (debit cards to which an employee’s wages are transferred) an increasingly popular alternative.
  • Payroll Platforms
  • Fragmented systems and data have always plagued the fintech industry, but payroll platforms are helping address these problems. They are making seamless integration a reality and combining features in a single platform. Having a fully integrated system provides a single set of data and a flow that reduces complexity, facilitates changes and ensures consistency across all system components. 
  • Daily Pay
  • A daily pay benefit lets workers track and access their earned wages prior to their next payday.
  • Provides the flexibility to transfer earned wages to paycards (or other payment platforms). • Incentivizes employees to perform accurate and efficient time reporting, as employees can see their available balance increase at the end of each shift. • Integrates with other payroll platforms, providing “plug-and-play” functionality.
  • Challenges Ahead
  • All of these new technologies will face skepticism about whether they can deliver on their promises. In some cases, these technologies will have to win over decision makers who are reluctant to change their ways.
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    This is an interesting article that describes some of the new technology being implemented to improve how employees are getting paid based on the current workforce's spending habits. These include the ability to be paid by debit cards, ability to be paid daily and have the flexibility to move the money around, AI intelligence to keep track of the employees' work hours on their own devices, and integration of many payroll functions into one platform. With so much technological advancement, it seems that payroll management is one that is still behind with many companies still working with the old clock in and out method which is time consuming.
marble_bird

Conditions Associated with Increased Risk of Fraud A Model for Publicly Traded Restaura... - 0 views

shared by marble_bird on 12 Jul 20 - No Cached
  • Many restaurant industry examples provide evidence that as a firm’s internal control structure weakens and deficiencies are found, the opportunity for fraud increases significantly.
  • The main premise of the study tests the application of the fraud triangle framework constructs to publicly traded restaurant companies during the time period of 2002–2014, using proxy variables defined through literature. The proxy variables selected were company size, amount of debt, employee turnover, organizational structure, the Recession, inflation rate, interest rate, executive stock compensation, return on assets, and international sales growth.
  • growing pressures from both passive and active investors to constantly increase their stock value in a competitive world where meeting performance goals are necessary to maintain a competitive edge
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  • To meet targets, it is typical for companies to put additional stresses on their internal control structures by reducing head counts, requiring employees to perform more than one job, and rearranging risk profiles
  • The deceptive and corrupt business practicesofthesecompaniesandothersresulted largely from a failure of corporate governance and lack of ethical business practices, in which internal control mechanisms were circumvented by conflicts of interest that enriched executives and damaged shareholders
  • Deficiencies are often observed through review of the main business cycles: revenue and receivables, purchasing and payables, treasury and stock, and financial reporting
  • Internal controls are often the first avenue of protection in safeguarding assets and thwarting and discovering errors and fraud
  • Some research has been conducted in this area, and findings suggest that companies in the telecommunications, technology, financial, and services industries experience the most difficulty with SarbanesOxley compliance efforts because of increased risk of fraud from industry and company risk factors
  • Therefore, pressure resulting from expectations of financial performance, opportunity to circumvent internal controls, and rationalization coupled with certain inherent industry factors may contribute to increased risk of fraud
  • opportunity to engage in unethical behavior may stem from the macro environment, the operational features, and the specific nature of the business cycles
  • Because of this potential for fraud on the company, shareholders, and the public, examining the conditions that may prompt fraud is necessary for the efficiency of the restaurant industry, and namely, for those passive and active investors that are relying on the financial statements to be true and accurate
  • the restaurant industry is often susceptible to deficiencies because of its inherent characteristics and high control risk
  • Corporate scandals, misappropriation of assets and financial statement misstatement are all very real threats to the restaurant industry.
  • the central focus of this study is to understand the factors that contribute to increased risk of fraud to determine why fraud may occur despite the imposed regulation of the Sarbanes-Oxley Act.
  • numerous researchers have found indication that executive stock option compensation provides encouragements for behavior that is fraudulent or corrupt
  • the study seeks to identify the factors that may provide the optimal criteria to engage in fraudulent or opportunistic behavior, using the incidence of a reported control deficiency as the measurable dependent variable.
  • The fraud triangle is the model that explains the factors that may cause an individual or a company to commit occupational fraud.
  • The differing classifications and definitions of pressure provide evidence that the construct is not directly observable; therefore, researchers in this field have measured the construct of pressure through proxy variables
  • consists of three constructs: pressure/motivation, opportunity, and rationalization. The three constructs offer an explanation as to why management commits fraud, and the dynamic relationship that underlies the acts of occupational fraud.
  • pressure may best be classified into four general types that may lead to fraud: financial stability, external pressure, manager’s personal financial situations, and meeting financial targets (
  • when considering measurements of external pressures relating to debt financing, the financial leverage ratio is the most common measurement of the amount of debt.
  • Both pressures and opportunities are often determined by factors that occur at both the individual and company level (
  • ROA, or asset composition, is an appropriate proxy measurement for the pressure of meeting financial targets.
  • according to the fraud triangle, it can be said that opportunity does not exist unless a pressure exists.
  • nonshareable problems could also motivate groups of individuals, representative of a company’s culture, to commit fraud.
  • Opportunity is described as an atmosphere or temporary environment that enables fraud to be committed, usually with a small perceived probability of being caught or reprimanded
  • In a study of Swedish restaurant companies, it is noted that competition is very high, often resulting in price wars among different companies that reduce prices and then try to compensate through increased sales
  • Some risk factors include the susceptibility of the industry to market changes as well as the nature of the industry, coupled with the specific operations of the company such as whether there are significant or complex international operations; how effective management is at monitoring activities within the organization; and the level of complexity that exists in the organization
  • This environment is therefore dependent on the discretionary income of consumers, and this increased pressure may lead to earnings mismanagement through overstatement.
  • Public companies in the restaurant industry are susceptible to opportunities for fraud on the basis of the aforementioned opportunities
  • The ability to commit fraud in the restaurant industry results from inside knowledge of processes and procedures, and the ability to circumvent controls through weaknesses (
  • strong evidence has also linked the CEO position to fraud when the CEO is also the Chairman of the Board. In incidences like this, the CEO is the dominate decision maker for an organization that may provide an increased opportunity for fraud.
  • The underlying reason for these three categories of increased opportunities for fraud is the state of the internal controls structure, and management’s commitment to strong corporate governance
  • Rationalization is essentially an attitude, belief, or position of the mind or ethical personality that enables an employee or group of employees of a company to intentionally misappropriate assets and then defend their dishonest activities
  • Weak corporate governance structures are often presented through ineffective monitoring of management.
  • A quantifiable means of capturing this could be through review of executive stock compensation measures.
  • excessive use of discretionary accruals may lead to poor audit opinions, providing a rationalized thought for business activities.
  • the nature of the restaurant industry is often described as a periodic, seasonal, and cyclic trade
  • Defining parameters for financial reporting can also have an effect on reducing the rationalized behavior and the opportunity to commit fraud
  • Because these conditions have an obvious effect on earnings and measures of success, this seasonal variability and volatility should be considered when analyzing pressures in the restaurant industry
  • For restaurant companies, this means that rationalizations and attitudes can be managed by assessing the internal control environment and understanding the pressures and opportunities that exist for employees.
  • Some restaurant industry pressures that may impact profitable sales growth include a lack of understanding of the consumer’s perception, including the relevance of existing brands, and delays in opening new restaurants. Likewise, an inability to consider cost pressures, including increasing fees for supplies, utilities, and health care providers contracted by restaurants, as well as an incapability of obtaining economies of scale in procurement, could compress margins and negatively impact sales and operations profit margin.
  • The value in the application of the fraud triangle to the restaurant industry provides an opportunity to extend theoretical contributions that originated from mainstream accounting to hospitality literature, which is severely lacking in the current literature
  • Likewise, restaurant companies that are smaller (and therefore may not have strong internal controls) with increasingly complex transactions create additional opportunities for fraud to be committed
  • competitiveness is a condition that makes meeting financial targets difficult and provides opportunity for fraudulent behavior. External pressure from analysts and investors may create an incentive to misappropriate assets, which, in turn, distorts common financial measures of success such as return on assets.
  • when debt financing exists, in order to address past and future obligations, and remain competitive, restaurant companies are at an increased risk of fraud especially when disruptions in financial and credit markets exist.
  • Studies have revealed that restaurant company victory and demise is eventually correlated to restaurant leadership abilities and intentions; therefore, it can be stated that executives and managers’ intentions are of utmost concern in understanding risk of fraud
  • firms with increasingly complex operations coupled with changes in organizational structure have less resources to put into internal controls and are therefore at an increased risk for accounting errors.
  • .Internationalgrowthissubjecttorisks such as international political and economic conditions, foreign currency fluctuations, and divergent cultures and consumer inclinations
  • This study will focus on the variables most pertinent to the restaurant industry on the basis of the inherent characteristics of U.S. publicly traded restaurant companies, as previously described in this section.
  • a s a result of workforce diversity and the presence of many perceived low-skilled workers. In addition, as companies within the industry respond to declining performance, publicly traded restaurant companies may be subject to activist investors who wish to see a change in the executive management team. If a shake-up such as this would occur, the organizational structure of the company may become unstable, resulting in much greater opportunities for fraud to occur at all levels.
  • this study looks to assess the relation between the amount of debt a company has occurred and the incidence of reported internal control deficiencies.
  • Variables relating to rationalization are present in the restaurant industry when considering the motivations and attitudes of management. It is noted that in difficult times, such as the Recession, aggressive financial reporting tactics may be used
  • this study seeks to understand the effect of substantial stock compensation on increased fraud risk.
  • this study also hypothesizes that poor ROA could increase the risk of fraud, as the pressure provides executive management with the motivation to manipulate earnings.
  • this study suggests that the organizational structure of the company may provide opportunity for increased fraud risk through a unitary tone at the top.
  • this study analysed the disclosures of publicly traded restaurant companies to determine whether a company has a higher probability of increased fraud risk on the basis of the presented variables.
  • The results of the applied probit model reveal for the entire population set of publicly traded restaurant companies that the macroeconomic factors of the Recession, interest rate, inflation rate and unemployment rate all have a significant impact on the increased risk of fraud, as evidenced through a reported internal control deficiency.
  • As noted in the overall model, the results reveal that the model as a whole is a significant fit to the data. Although the company-level variables were not significant in the overall model, external factors were each significant.
  • Therefore, it can be said that the results of this study empirically support the intuition that changes in macroeconomic conditions may impact increased risk of fraud for companies in the restaurant industry.
  • It can be said that there is a significant relation between increased risk of fraud and the macroeconomic factors of interest, inflation, and unemployment rates.
  • from a managerial perspective, the study provides evidence that macroeconomic conditions that might affect consumer demand may increase the risk of fraud for publicly traded restaurant companies.
  • In addition to the high costs of compliance, it is also important to recognize additional managerial characteristics that may heighten the effects of the macroeconomic conditions on increased fraud risk.
  • As indicated by the results of the study, however, many times executive management does not recognize the problems associated with the macroeconomic conditions because of systematic perceptual filters that play the crucial role in the functioning of the company.
  • By focusing on the changing macroeconomic conditions that may have an empirical effect on demand, executive leadership will be able to streamline processes to avoid incidences of reporting internal control deficiencies when exposed to the macroeconomic conditions.
  • In the restaurant industry in particular, information is also not readily quantifiable, which makes it even more difficult to transform into meaningful and timely information for executive management. Particular examples include consumer insights and how well new promotions are received and moved throughout the market.
  • it should be noted that reported internal control deficiencies are indicative of increased fraud risk, but not necessarily conclusive that fraud has occurred. Therefore, just because a company has reported a deficiency, it does not indicate fraud, necessarily.
  • According to the model, the managerial factors are only exacerbated by the presence of macroeconomic factors.
  • the identified conditions could help managers to improve internal control when a high risk factor is realized. The contribution of this study may allow restaurant companies to deter activities that may result in increased risk of fraud.
  • Because the study revealed that the macroeconomic conditions were significant for the entire population of restaurant companies, an area of future research might explore the relevance of the co alignment model (Olsen &R o p e r , 1998) to strategic management decisions to reduce the risk of fraud.
  • for purposes of this study, privately traded companies are excluded. This is a limitation of the study because the results may indicate a problem that is more or less pervasive since the sample is representative of a small number of companies in the United States.
  • the model is limited in application because it does not take into account fluctuations among the variables over time.
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    This article covers the methodology and findings of a study conducted to examine the factors contributing to fraud risk in publicly traded restaurants. The article discusses factors in the fraud triangle, macroeconomic factors, and internal company factors that may contribute to fraud despite protections implemented per Sarbanes-Oxley. The study ultimately finds that internal company factors are insignificant when considering the impact on fraud risk, while macroeconomic factors, such as inflation or unemployment, drastically impact the level of fraud risk that a company may face.
jbrit055

Cloud Computing: Explained for the Hotel Industry - 7 views

  • if you want a more efficient, streamlined back office and happier guests, then “the cloud” can help you meet your goals
  • cloud-based applications are usually a lot cheaper than traditional systems.
  • cloud computing is when you use programs, store files, or access data via the internet rather than on your hard drive.
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  • When an application is “cloud based” it means that it lives on third party servers.
  • Avoids costly and painful installations
  • Eliminates negative depreciation (in fact, the software gets better with age, since updates can be made at any time) 
  • Pushes software companies to consistently earn customer loyalty with innovation and great service
  • No discussion of cloud computing in the hotel industry would be complete without mentioning Cloudbeds, the first property management system startup in years to serve 1 million beds with its software.
  • Hotels that use Cloudbeds log into it directly in a web browser like Internet Explorer or Chrome. This is a big advantage for hotels because you can access the application on any device.
  • When a system is cloud-based, it can innovate faster because changes can take effect immediately.
  • Implementing cloud-based software can make your operations more efficient, save time for your employees, and create more positive guest experiences.
  • Another reason for Cloudbeds’ rapid growth is that their software can easily integrate with other tools. Cloudbeds has an extensive marketplace of integration partners, including Whistle, TrustYou, and Oaky, that it can connect to via an API. Because everything is located in the cloud, a hotel doesn’t need to download any programs or plug-ins to add a new integration. These add-ons can offer upgrades and analyze reviews, among other things, so you can improve guest service and even earn incremental revenue.
  • if you want a more efficient, streamlined back office and happier guests, then “the cloud” can help you meet your goals
  • if you want a more efficient, streamlined back office and happier guests, then “the cloud” can help you meet your goals
  • Implementing cloud-based software can make your operations more efficient, save time for your employees, and create more positive guest experiences.
  • “The cloud” wasn’t created overnight; instead, decades of technological evolution led to cloud computing.
  • Requires minimal upfront investment
  • a cloud based hotel software company like Cloudbeds might choose to rent space with a company like Rackspace to host their application (and yours) or alternatively they might use a service like AWS. 
  • One of the biggest misconceptions about cloud computing is that files and applications don’t live on physical storage servers.
  • AWS tends to be more scalable for fast growing applications but as end users your guests won’t notice the difference so it’s really a matter of preference.
  • If you’ve ever edited a Google Doc or uploaded files to Dropbox, then you’ve leveraged cloud computing.
  • If you use Microsoft Office, you might create a PowerPoint on your laptop (local storage), but when you save the file, it gets uploaded to your Microsoft OneDrive, which is housed in the cloud.
  • Benefits of Cloud Computing
  • lower switching costs for buyer
  • you can sign on securely via any web browser - even if you’re off-site.
  • t the same time, users can submit feedback to Cloudbeds about any bugs or glitches, which the Cloudbeds team can resolve quickly.
  • you may even save some money in your IT budget
  • your hotel can implement a new system seamlessly
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    Cloud computing offers a more efficient way for hotels to keep up with data and programs for their company. When a hotel uses cloud computing, they are able to create more of a positive experience for their guests. It also is extremely helpful to use a cloud-based system because hotels could access their cloud-based application on any device. Cloud-based software also gets better with age because the updates can be made at any time so this will get rid of negative depreciation.
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    cloud computing is when you use programs, store files, or access data via the internet rather than on your hard drive One of the biggest misconceptions about cloud computing is that files and applications don't live on physical storage servers. When an application is "cloud based" it means that it lives on third party servers. Cloud computing provides several advantages over traditional computing: Avoids costly and painful installations Requires minimal upfront investment Allows software companies to focus resources on R&D/innovation Eliminates negative depreciation (in fact, the software gets better with age, since updates can be made at any time) Offers the ability to cancel at any time (plus has lower switching costs for buyers) Pushes software companies to consistently earn customer loyalty with innovation and great service integrate with other tools...These add-ons can offer upgrades and analyze reviews,PIE revenue management tool, a channel manager, a booking engine, and more operations more efficient, save time for your employees, and create more positive guest experiences
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    This article explains what cloud computing is, the evolution behind the technology, and how the hotel industry uses cloud computing. Cloud computing can benefit hotels because they can use any device to log into cloudbeds on web browsers.This type of technology can make everyday operations more efficient, save employee time, and create an overall positive guest experience.
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    This article explains what we've learned of Cloud Computing. The evolution to its upcoming may have taken a while but now it is here to stay. The use of Cloudbeds in the hotel industry has made operations more efficient, save time and money on employees and improves guest experiences. Cloudbeds has expanded its property management system to include: PIE revenue management tool, a channel manager, and more. The use of Cloudbeds is accessible through any web browser, this makes it efficient if you were working at home. Cloud computing is the next innovation we will see more of in the hospitality industry.
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    This article introduces you to cloud computing and its evolution. It also explains how the hotel industry can benefit from using cloud services. "Implementing cloud-based software can make your operations more efficient, save time for your employees, and create more positive guest experiences." Through the use of CloudBeds, a hotel employee can sign on and use property management software securely from any web browser.
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    This article talks about the use and benefits of cloud based software for the hotel industry. It gives a simple explanation of how the cloud works. The major point that I found interesting is the usage of this software and how it is easier for hotels to stay up to date because any update in the system happens in real life at the moment without having to update individually every terminal
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    The article discusses the hotel industry's adoption of cloud computing. By using cloud computing, you can use programs, upload files, and access data over the internet instead of storing them locally. Cloud computing and local storage are used together in some applications. In addition to hardware, software, training, and maintenance, IBM offered an extensive range of services. Due to Cloudbeds' ability to integrate with other tools, they have experienced rapid growth. Integrations can offer upgrades and analyze reviews, among other things, so you can provide better service and increase revenue. By implementing cloud-based software, hotels can stay ahead of the competition, save time for employees, and give their guests a better experience.
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    This article describes what cloud computing is, and what it isn't, so people understand how it can be seen in the industry. The storing of data on the internet has been a huge innovation as it expanded storage beyond the typical storage offered on a device. By switching to this new technology, businesses may minimize future investments as the technology tends to work for many years and only requires quick updates. By researching what your business and customers need, you can make the right choices on whether this investment is worth it or not for your property.
Diya ZHAO

Resistant to the inevitable: How technology is changing the restaurant industry - The N... - 0 views

  • Between the arrival of mobile devices on the table, online reservations, social media, and new payment methods, technology has infiltrated the food and restaurant industry like never before. Some of the advances will serve to improve the experience — both for the industry and for the patron.
  •  According to a recent article in the USA Today, restaurants in San Francisco, Atlanta, Boston, Chicago, and in other parts of the United States are starting to allow patrons to use iPads to place their orders. While this may be a welcome sign for the industry as a whole (which, according to the piece, has been flat due to the economic downturn since 2007), it might not work out so well for the servers who are displaced by a tablet.
  • Payroll is one of the largest controllable expenses in the industry, and keeping it as low as possible can have a huge impact on a restaurant’s bottom line.
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  • Besides replacing menus (and possibly those who take your order from them), tablets have the potential to help hosts deal with incoming patrons who may have reservations.
  • But the use of mobile devices isn’t limited to the serving side of things. They can be used to track inventory, regular checklists, and can go so far as to be used in a similar way we use in our own home kitchens – as a way to help out new kitchen workers get a handle on the restaurant’s menu items.
  • Social networking sites have played a huge role in shaping the views of society on a myriad of issues, and they are also playing a role in shaping people’s opinions of dining establishments. With Foursquare, customers can leave their thoughts on a restaurant
  • The transaction was seamless and didn’t seem at all out of place considering the environment I was in. I mean, I didn’t even think about the notion of having Square in a food and restaurant setting, and here it was.
  •  
    This article is about the new technology trends in restaurants around the US. The article shows how large cities like Chicago and New York are not only using tablets to have customers place orders, but are also using APPS. 
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    Technology has never been more intuitive than it is today, and it's only getting better. It allows restaurant patrons to find restaurants, rate them, and decide where they want to spend their hard-earned money when they go out to eat. It allows restaurant owners to be more efficient and effective in the areas they feel can be streamlined by hardware and software. But if used in the wrong place and at the wrong time, it can do a restaurant great harm - as it can with any industry.
Lu Zhang

E-Commerce News: E-Commerce: Headless Commerce Lets the Product Sell Itself - 0 views

  • Achieving success with digital e-commerce requires a new way of doing things and new level of commerce functionality. The living nature of digital content -- the fact that the product itself and thus the customer can always remain connected to the producer, retailer, publisher or distributor -- enables a powerful new paradigm for a rich, ongoing customer relationship.
  • With digital content, the sale is not over when the transaction is complete. The customer's entitlements live on and must be managed: upgrades sold or authorized, subscriptions terminated or renewed, device or user assignments changed. This management of the digital relationship between seller and customer is not only necessary; it also opens doors to continued revenue and enhanced customer satisfaction.
  •  
    This article discuss about the new approach selling digital products. By this approach the seller will rapidly maximize revenue and earn high customers satisfaction. The digital products, such as software and game, are different from the physical goods e-commerce for the intangible trait. Therefore, the seller don't need to use the traditional sales approach, such as item-based. Instead, in order to increase the revenue and build perpetual relationship with customers, the seller can sell the digital products by various ways or steps, for instance, one article of a e-book at a time, the right to make copies of a game, and time-based rentals of a magazine. When visitors are looking for their products, instead of recommend a specific product, seller should provide a set of related products according to options that visitors choose. This sales approach might need a new technology to manage the website and a platform that support flexible operation. Overall, digital goods seller can take advantage of the special traits of digital content and change the sales way develop loyalty and maximize the revenue.
sining

Time Hotels to further increase ebusiness with better channel management - 1 views

  • "The main challenge today is exposure on the web and trying to control the cost of e-business,
  • With RateTiger we can update all channels in one go.
  • a thought leader in online sales and revenue management
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  • Time Hotels, a group of small, independent hotels in France, has increased its productivity from third party resellers through the effective use of RateTiger's channel management tools.
  • etter control of sales, pricing and production.
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    Rate Tiger is a premium rate shopping and channel management solutions provider. Nowadays, the increasing website necessary directly affect the cost of e-business for the hoteliers. Thanks to the Rate Tiger, it helps hotels to identify the best producing websites, and allow hoteliers manage their inventory allotment to bring more reservation from the e-business. This article use Time Hotels as an example to prove that Rate Tiger's channel management tools really can help hotel to increase the effective of e-business.
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    This article talks about a group of small, independent hotel called Time hotel in France. They use the third party reseller which name is Rate Tiger's channel management tools to increase its productivity. They use this channel to have a better control of sales, price and production. Time hotel hopes to further increase their revenue from online sales. Rate Tiger allow hotels to identify the best producing websites, while also improve the relationship with channels that have a lower commission. Rate Tiger also can update all cannels in one go. This help Time Hotels earn more reservation and better to work with other website. 
Krystal Jost

Are Independent Hotel Operators Leading the Way in Driving Property Management System E... - 0 views

  • Maestro empowers hundreds of high-touch independent operators and hotel groups to grow their business and stay ahead of the competition with innovative technology backed by the industry’s most reputable Diamond Plus service.
  • Lodging Hospitality Management (LHM) uses flag-mandated PMSes for its Hilton, IHG, and Marriott properties, but it relies on NORTHWIND’s Maestro System for its independents.
  • Maestro empowers hotel groups with enterprise-wide system solutions that deliver true centralized management controls on a single database. This enables closer property coordination, cross-property booking and upsell capabilities, and consistent guest recognition at all touch points for all properties.
  •  
    This article focuses on the benefits that Maestro (a property management system) offers to hotels and how it has been benefitting hotels that currently use their system, more specifically, smaller, independent hotels. Most chain hotels and large facilities are required to utilize a flag-mandated property management system. However, independent operators are not linked with these mandated systems, and have a choice as to which system to utilize. Maestro claims to offer Northwind, a service that allows Maestro to be utilized in a cloud-based system, enabling it to host multiple properties and save the establishment money by not requiring them to purchase servers and security, whereas a traditional PMS would have done so. The president of Northwind also states that they strive for their clients to succeed and that it is more of a partnership with those who utilize their service, and their goal is to make a hotel's operations more profitable and efficient. The article continues on to explain the uses and functions of the Maestro system, including being fully-integrates and offering operators loyalty program benefits and the functionality to compete with programs that were solely available to chains. It also tracks points earned and redemption stays as well for those loyalty programs, and claims to minimize errors and save operators money. It also allows integrations that provides social media outlets through the property management system, allowing the user to operate their business simultaneously through different systems. Maestro also boasts that the utilization of their property management system allows hotels to increase their direct bookings through the property for a lower cost than if they were to utilize a different system in which it was not flawlessly and seamlessly integrated with a global distribution system. It seems to be a property management system that enables users to complete many tasks at once, from one location, without having the hassle of
ypere044

Hotel guests spend more on telecom; 38% rise in past two years - USATODAY.com - 0 views

  • The way travelers communicate on the road has changed dramatically over the years, and these changes become evident when analyzing the revenue earned by U.S. hotels from their guests for use of telecommunication devices and services. In lodging industry parlance, "telecommunications revenue" includes monies received from the guest use of hotel room phones, fax machines, and internet connections.According to our research, telecommunications revenue at the average U.S. hotel in PKF's annual Trends in the Hotel Industry survey sample has declined by 79% since 2000.
  • Internet fees help drive growth in telecom revenue
  • Tiered Internet pricing: Here to stay?
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  • to tell us about the state of the industry's telecommunications revenue stream - a stream that includes Internet fees.
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    "The way travelers communicate on the road has changed dramatically over the years, and these changes become evident when analyzing the revenue earned by U.S. hotels from their guests for use of telecommunication devices and services. In lodging industry parlance, "telecommunications revenue" includes monies received from the guest use of hotel room phones, fax machines, and internet connections."
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    This year, travelers are on track to pay U.S. hotels an estimated $1.95 billion in fees and surcharges - an amount that includes unpopular Internet charges. With this in mind, Hotel Check-In asked Robert Mandelbaum, the Atlanta-based director of information services for PKF Hospitality Research, to tell us about the state of the industry's telecommunications revenue stream - a stream that includes Internet fees.
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    Over the years, with technological and telecommunication advances the way we communication while on the road or on vacation has changed. I remember going on vacation as a child and being able to call my grandma from our hotel room once a day because we didn't want to spend too much money on calling back home or getting a voicemail from family members calling while we weren't in the hotel room. Over the years, this has changed dramatically. Now I can go on vacation and call, text, send emails, pictures, and videos to all my contacts with the use of my cell phone or with the use of my laptop in a WiFi area. This article gives insight on the revenue provided by telecommunications as told by Robert Mandelbaum a director of information services. He tells us that internet fees help with the growth of telecom revenue, as use of in room phones has decreased. This is just one way that the changes in technology have affected the industry. In this case, telecommunication advances have had a negative effect on the revenue in telecommunications but its only a matter of time until something new comes around and attempts to restore profit production. 
Emily Bova

RezExchange Launches Direct Integration With Social Marketing Platform Flip.to - 0 views

  • Approximately 15 to 25 percent of guests who book rooms at participating hotels engage with Flip.to, and for every 100 engaged guests, an average of 10 to 20 additional room nights are booked within six months.
  •  
    Hotel Concepts- Brilliant, a leading global provider of advanced PMS, recently announced its integration of Flip.to into RezExchange. For a small monthly subscription, Flip.to acts as marketing platform for hotels, restaurants, and airports. Customers can use it to comment, post feedback, and recommend the establishment to friends who in turn can get discounts. It also allows loyal guests and customers incentives to spread the word. RezExchange allows customers to manage their sales channels directly from the hotel management system and will receive all reservations from these channels directly into their own database. With this integration customers don't have to present printed coupons and any earned incentives are automatically credited to their hotel profiles. Hotels, restaurants, and airports that already use RezExchange and integrate Flip.to into their system will become more streamlined making it that much easier for customers and guests to build up and use their incentives.   L'Auberge Carmel hotel in California is the first property to go live with this integration and thus far, this integration has proved successful. Approximately 15 to 25 percent of guests who book rooms at participating hotels engage with Flip.to, and for every 100 engaged guests, an average of 10 to 20 additional room nights are booked within six months. 
Ligia Elizondo

Four Seasons Hotels and Resorts Earns #1 Spot on L2's Digital IQ Index: Hotels Rep... - 0 views

  • Four Seasons has fostered an environment of innovation and excellence in digital engagement that resonates with our guests at every touch point."
  • The L2 ranking measures the digital competency of 52 hotel brands via 350 data points across four dimensions: Site, Digital Marketing, Social Media, and Mobile.
  • Innovating with Emerging Platforms
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  • L2 is a think tank for digital innovation that helps prestige brands navigate the digital marketing landscape through events, research and advisory services. The L2 Digital IQ Index® is the largest and most robust study of its kind.
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    Four Seasons Hotels and Resorts brand has been recognized by L2 Think Tan's Digital IQ Index: Hotels for the use of plenty digital platforms. By analyzing the needs and wants of guest and potential customers Four Seasons decided to invest in technology obtaining great results. "We are thrilled to be recognized by L2 for our commitment to transforming our guest experience through digital and social media platforms," said Susan Helstab, executive vice president, marketing, Four Seasons. Four Seasons saw the great influence technology has in the way we conduct business and communicate therefore the brand applied the newest technology to create a competitive advantage among its competitive set. "The L2 study reflects just how meaningful this is to the guest experience, and solidifies the importance of Four Seasons continual advancement in the digital realm." Some of the recent innovations Four Season applied to the properties are the new website FourSeasons.com that includes real-time search and videos. It also includes maps, Facebook, and blogs among others. Creating a powerful and global social presence in YouTube, Facebook and Twitter that gives them more publicity, Innovating with Emerging Platforms and Mobile Access "The brand has seen 110% growth year over year of business booked through iPhones and 200% increase via iPads." Four Seasons is attracting more groups, leisure and commercial demand thanks to its technology.
Nicole Spencer

Does This Tech Giant's Strategy Spell Trouble for Travel? - DailyFinance - 0 views

  • has a history of taking a service people used to pay good money for, and simply offering it up for free.
  • online travel agency (OTA) business. Investors in traditional OTAs should be worried.
  • Cutting out the middleman
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  • allows customers to book directly from hotels themselves.
  • hotels bid for this privilege, as bypassing OTAs provides significant cost savings.
  • If Google chooses to allow users to book directly from hotels without a fee to either, however, OTAs would find themselves charging a premium for no added value -- not a pretty position to be in
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    Google, a well-known online search engine has a recent history of taking services that people pay money for and making it available for free to its users. One service in particular that has been recently launched is Google Flights, allowing users to select a travel plan and then go directly airlines' reservation system. The problem here is it has left online travel agency OTA's industries such as Expedia and Priceline.com out of the picture. Such OTA industries earn revenue by either taking a commission from hotel or charging a markup to consumers. This should be a great concern to this industry . Although there are some hurdles for Google-Google users search results are limited for flights as of its competitors; Google's competitors still have established customer relations and brand. Google can overcome these hurdles in a matter of time and OTA's should keep a close eye or find solutions to adapt.
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    Great article! I recently read that Google is taking over the travel market when searching for events using the Google search engine. Pay per click, allows companies to tie into hyperlinks when web surfers an event in the area of their business. Highlighting hotels, car rentals and restaurant conveniently located within the search engine user area.
LU DENG

How EBay Failed In China - Forbes - 0 views

  • In 2004, eBay had just entered China and was planning to dominate the China market. Alibaba was a local Chinese company that helped small- and medium-sized enterprises conducting business online.
  • As a defensive strategy, Ma decided to launch a competing consumer-to-consumer (C2C) auction site, not to make money, but to fend off eBay from taking away Alibaba’s customers.
  • While visiting Alibaba’s headquarters in Hangzhou, I felt the same “insanely great” energy of entrepreneurship as I felt in Silicon Valley.
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  • A new Web site named Taobao—meaning “digging for treasure”
  • Knowing that most small business people would rather watch TV than log on to the Internet, Ma secured advertisements for Taobao on major TV channels.
  • Unlike eBay EachNet, which charged its sellers for listing and transaction fees, Taobao was free to use.
  • According to a Morgan Stanley report, Taobao was more customer focused and user friendly than eBay EachNet.
  • Taobao had also better terms for its customers: it offered longer listing periods (fourteen days) and let customers extend for one more period automatically. EBay EachNet did not have this flexibility.
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    This is a very interesting article. As a Chinese teenager, I can experience all the changes and development of Taobao and how it won Chinese market that the author mentioned in this article. eBay can be successful in an international market, while failed rapidly in Chinese market. Firstly we can see how competitive the online market is. After this we also want to ask why eBay was beaten in China? The author of this article listed four reasons: 1) Compared with eBay, Taobao has better marketing strategies in dealing with local market. At the beginning, Taobao promoted itself through TV ads and later used short messages, which were more popular than Internet in China. 2) Taobao has less limitations on buyers and sellers through the whole process. For instance Taobao charges no listing and transaction fees on its sellers and it's free to register as a user in Taobao 3) Products made in China gives Taobao more chances to sell goods in competitive price. 3)Taobao has better terms for its customers, which helps it o to earn a good reputation and also makes Taobao more flexible in customer service. 4) The way that Taobao lists its items are more customer centric and adaptable to Chinese customers' tastes. E-commerce can bring unlimited chances and is full of adventures. As for me, marketing skills, excellent customer service and high-tech are the same important for a company if it wants to increase the share of market and makes profit. Taobao can be set as a good example in e-commerce history.  
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