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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.
atutt002

Beyond Pricing bags $42.5M to develop pricing tech for short-term rentals | PhocusWire - 1 views

  • “Our customers make up the majority of the short-term rental industry but don’t have the resources to invest in their own software
  • help them maximize both revenue and occupancy while maintaining a competitive edge
  • Beyond Pricing dynamically prices more than 150,000 listings in more than 7,000 cities around the globe; it has priced more than $2 billion in bookings.
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  • the short-term rental industry is still under-penetrated
  • short-term rental software.
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    This article sheds light on an under-developed and growing section of the hospitality industry: short-term rentals. Focusing in on an emerging software company, the article reviews the need for pricing and revenue management software not only in hotels but also in short-term rental listings. "Beyond Pricing", an emerging revenue and pricing software, is currently creating tools for this specific market to increase revenue through strategic pricing
bruss031

Flight prices dip amid COVID. Will it impact holiday travel? - Los Angeles Times - 0 views

  • This month, domestic airfares are down 5% from September 2019 and international fares down about 8%
  • Prices for flights to Europe are at a five-year low, down more than 30% compared with the same month in 2019, according to the travel website.
  • For the first time since COVID-19 took hold in spring 2020, travel demand this summer began to match and briefly surpass pre-pandemic levels
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  • But in the last few weeks, airlines have reported a steep drop in demand and an increase in reservation cancellations.
  • The average domestic round-trip flight costs $260, down from $290 at the end of August
  • The average round-trip price of a flight to Europe from the U.S. is $565, down from $665
  • In its own Sept. 9 investor update, Delta Air Lines said “initial revenue expectations were predicated on an acceleration of business travel through the September quarter. The pace of business travel recovery has paused as companies delay or scale down initial office reopening.”
  • “Most airlines have said Thanksgiving and Christmas and year-end holidays remain solid,” Unnikrishnan said. “So far, people are not canceling their holiday plans.”
  • Domestic round-trip airfares around Thanksgiving are priced at an average of $300, up 23% from 2020 ($245) but down 11% from the pre-pandemic 2019 fares ($335), according to Hopper. The average domestic round-trip airfares for travel around Christmas are $430, up 71% from 2020 ($250) and up 10% from 2019 ($390).
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    Airlines around the world are sadly continuing to battle the ever lasting effects of the Covid-19 pandemic. Currently domestic airfare prices are down 5% since September 2019 and international fares down 8%. These price drops are expected after summer month travel exhaustion, although these prices are at a lower price than 2 years before. The biggest question within the industry right now is whether or not prices will see a steady uptrend in the coming months as we approach the holiday season.
Melissa Krajewski

Travelport agent survey finds support for GDS ancillary sales - Travolution.co.uk - 0 views

  • Corporate and leisure travel agencies can expect more technology to help them sell airline ancillaries after a global survey found high levels of support for this service through GDSs.
  • Agents understand that as the airline product continues to evolve and ancillaries form an increasingly significant role in the purchase decision and buying process, travel customers continue to look to agents to support them in purchasing itinerary solutions.
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    This article discusses what travel agents think about the enhanced ability of both corporate and leisure based travel agencies to sell airline ancillaries because of improved Global Distribution Systems' technologies. Ancillaries are products and services that airlines sell to gain additional revenue on top of your ticket price. Ancillaries have become increasingly popular in the airline industry because of the sky rocketing price of jet fuel. To keep ticket prices down airlines are "unbundling" items from the overall experience. This presents them with an opportunity to turn a profit by charging fees for bags (carry on, checked, additional), on board food and drink, credit card purchases, headphones. It seems like everything you encounter from when you arrive at the airport to when you disembark the plane has a fee. This phenomenon is especially present in Low cost carriers such as Spirit, Air Tran, Jet Blue, etc. However there are consumers who disagree with this additional costs as is apparent in Southwest's continuous marketing campaign. I'm sure everyone has seen the commercials with Southwest representatives 'flagging' down unnecessary fees in order to promote their 'bags fly free' campaign. Anyhow the reason I am explaining ancillary revenue is because travel agents are now starting to sell more ancillary products such as hotel accommodations, travel insurance, rental cars because of GDS technologies. They can track the sale of fees through EMD (Electronic miscellaneous Documents) which is the current industry standard. In the article some agents state that the EMDs are hard to understand and use. I believe until the EMDs become "seamless and easy to use" there will exist some hesitation to sell airline ancillaries. However on the other hand the article states that Travelport is working towards a simple and uniform platform called Travelport Universal API/Desktop. Once this comeplete perhaps more agents will feel comfortable selling ancillaries. This is a goo
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    Diigo keeps cutting off my descriptions... This is a good start to acknowledge the opinions of travel agents using GDS to sell airline ancillaries but the arguments were confusing and hard to follow. From reading the article I would address ethical concerns that airline agents may have in selling ancillary revenue for commission since 44% of those polled did not impose fees for attaining the additional products and services. I understand the airlines need to stay in business with the increase of jet fuel prices but there must be some way to avoid imposing the fees besides raising ticket prices and laying off employees (American Airlines announcing 13,000 layoffs).
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    I still remember when most airlines used to include breakfast or dinner for their passengers including alcoholic beverages well that doesn't happen any more. I believe when Travelport Universal Desktop becomes available it would become more clear to travel agencies the transaction process and for the consumers what products and services they are ofering.
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    I too miss the days of free sodas and peanuts. "Sigh-" sometimes its the little things in life that bring the most joy. I agree I think the new Travelport Universal Desktop will be a valuable tool if utilized correctly.
Chris Cardoso

Hotel Telecommunications Strategies - 6 views

  • No matter what telecommunications strategy a property takes, one thing is for certain, it needs to be a different one from the past.
  • The guest now has a variety of choices for communicating including fax over the Internet, e-mail, cell phones, calling cards and now even Internet-based phones. 
  • Assuming that the wireless reception quality is acceptable, it is very difficult for the hotel to compete on a cost basis.
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  • Given the hotel’s advantage in quality over the guest’s portable devices, the proper packaging of services will lure even the most avid self-contained guest back to using the hotel’s telecom services.
  • Hotels are unable to compete on price with devices that the guest has brought with him.  What the hotel can do is offer a better experience at a reasonable price to entice guests to use the hotel’s telecom infrastructure.
  • Attracting the Guests to Use the Hotel’s Telecommunication Services
  • The guest now has a variety of choices for communicating including fax over the Internet, e-mail, cell phones, calling cards and now even Internet-based phones.   All these alternatives offer a less expensive means of communicating than using the traditional hotel guestroom phone and other services such as fax.
  • No matter what telecommunications strategy a property takes, one thing is for certain, it needs to be a different one from the past.
  • The guest now has a variety of choices for communicating including fax over the Internet, e-mail, cell phones, calling cards and now even Internet-based phones.   All these alternatives offer a less expensive means of communicating than using the traditional hotel guestroom phone and other services such as fax
  • No matter what telecommunications strategy a property takes, one thing is for certain, it needs to be a different one from the past.
  • Attracting the Guests to Use the Hotel’s Telecommunication Services   Hotels are unable to compete on price with devices that the guest has brought with him.   What the hotel can do is offer a better experience at a reasonable price to entice guests to use the hotel’s telecom infrastructure. No matter what cell phone the guest may carry or what service provider is used, no wireless connection is as good as a land-line connection
  • Guests had little choice back then but to use the guestroom phone and grumble about the cost.
  • Assuming that the wireless reception quality is acceptable, it is very difficult for the hotel to compete on a cost basis .
  • Assuming that the wireless reception quality is acceptable, it is very difficult for the hotel to compete on a cost basis
  • Another concern among hoteliers is what can be termed the self-contained guest
  • Another concern among hoteliers is what can be termed the self-contained guest
  • Theoretically, the self-contained guest needs no hotel telecommunications services .  
  • Theoretically, the self-contained guest needs no hotel telecommunications services
  • Guests had little choice back then but to use the guestroom phone and grumble about the cost.
  • Hotels are unable to compete on price with devices that the guest has brought with him.   What the hotel can do is offer a better experience at a reasonable price to entice guests to use the hotel’s telecom infrastructure. No matter what cell phone the guest may carry or what service provider is used, no wireless connection is as good as a land-line connection
  • The early 1980s marked the beginning of an era of profitable hotel telephone departments.  The advent of call accounting systems (thanks to deregulation) enabled hoteliers to easily mark up calls to a profitable (some say too profitable) level.  Guests had little choice back then but to use the guestroom phone and grumble about the cost. This era has come to an end.  With few exceptions, most hotels have seen between a 15 percent and 25 percent drop in telephone revenues over the last five years.  The main reason for this decrease is guest choice.  The guest now has a variety of choices for communicating including fax over the Internet, e-mail, cell phones, calling cards and now even Internet-based phones.   All these alternatives offer a less expensive means of communicating than using the traditional hotel guestroom phone and other services such as fax . A fax machine in the guestroom was considered a premium amenity for many years.  With the Internet explosion, however, the machines have seen less use.
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    No matter what telecommunications strategy a property takes, one thing is for certain, it needs to be a different one from the past. The early 1980s marked the beginning of an era of profitable hotel telephone departments. The advent of call accounting systems (thanks to deregulation) enabled hoteliers to easily mark up calls to a profitable (some say too profitable) level.
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    Nowadays, people have many choices for communicating including fax over the Internet, e-mail, cell phones, calling cards and now even Internet-based phones. Hotel guests are restricted by the largest telecommunications service providers from making long distance collect and credit card calls to countries other than their home country. The guest is not able to complete his desired call from the guest room telephone. In addition to frustrated guests, this generates absolutely zero revenue to hotels. What the hotel can do is offer a better experience at a reasonable price to entice guests to use the hotel's telecom infrastructure. The hotel can use some systems to reach this goal, such as the BBG Communications. It can increase revenue for every international operator assisted call. It assumes all responsibility for billing and collection of all calls. It has over 500 multilingual, live operators servicing customers. The most important thing is there is no cost and risk to the hotel, because the BBG assumes all associated cost and responsibility.
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    This article is talked about hotel telecommunications in the 21st Century. No matter what telecommunications strategy a property takes, one thing is for certain, it needs to be a different one from the past. The early 1980s marked the beginning of an area of profitable hotel telephone department. Few years later, this area has come to an end. The main reason for this decrease is guest choice. Later on, guests have a variety of choices for communicating including fax over the Internet, e-mail, cell-phones, calling cards and even Internet-based phones. All these alternatives offer a less expensive means of communicating than using the traditional hotel guestroom phone. With the time passed by, hotel telecommunications update and improve better and better. Nowadays, High-speed Internet access is fast becoming an expected amenity. This the revolution for hotel telecommunications in the 21st Century.
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    This article that is written by Geoff Grisworld. Talks about how telecommications has changing in the 21st century. One of them being hotel. Hotel takes a big advantage in telecommication because there is always a change in the communication system. That is why hotel have to upgrade their system often. This is why hotelier organizes packaging deal when it comes to communication system from using the phone to HSIA. This is a few system that is always need to be change constantly, so the hotel can offer a better experience at a reasonable price while they are enjoying their stay.
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    This article speaks about the growth and development of telecommunication within the hospitality industry in the 21st century. "No matter what telecommunications strategy a property takes, one thing is for certain, it needs to be a different one from the past," the article states. Since the 80s hotels utilized their telephone department to offer a service for a profit. Because there was little to no competition with communication, this was profitable as guest pretty much had no choice but to use the phone service provided at a set cost by the hotel. Today, however, we see a shift in technology now where everyone has communication at their disposal via smart phones, Internet and other communication tools. With this happening, "it is very difficult for the hotel to compete on a cost basis." (Griswold) It also explains how high-speed Internet access (HSIA) is almost seen as an amenity anticipated by the guest and has worked in the hotels' favor. The article goes on to describe the "self-contained guest" that carries a smart phone, small printer, notebook computer and technology of their own which allows them to virtually have no use in the hotel telecommunications services. So what does this article suggest for concerns as such? Hotels are to attract guests to use their telecommunication services. By offering packaged deals at affordable prices, Griswold believes hotels will be able to be the ideal option for telecommunications services. After viewing this article, I realize how hospitality industry workers think about those they serve all the time and should always display it. Even though the hotel is trying to make money by charging for Internet and phone services, they wish to market the service as the best option for the guest. The Internet connection would be faster provided by the hotel over a smart phone is one feature they wish to advertise. This type of mentality is smart yet should be withheld throughout the industry and always show that the
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    The early 1980s marked the beginning of an era of profitable hotel telephone departments, because guests had little choice back then but to use the guestroom phone and grumble about the cost. Nowadays, guest has a variety of choices for communicating including fax over the Internet, e-mail, cell phones, calling cards and now even Internet-based phones. All these alternatives offer a less expensive means of communicating than using the traditional hotel guestroom phone and other services such as fax. And high-speed Internet access (HSIA) is fast becoming an expected amenity in 21st century. Today hotels are unable to compete on price with devices that the guest has brought with him. What the hotel can do is offer a better experience at a reasonable price to entice guests to use the hotel's telecom infrastructure.
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    This article explains how much are creating incentives for hotel guest in an effort to get them to use the technology that the hotel provides.
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    In modern society hotel need more attrahent thing increase revenue. The traditional way may lose competitiveness, like telephone services. Because almost everybody using personal cell phone and more and more people prefer to use internet to communicate such as email and skype. In my opinion if hotel build some telecommunications use internet such as physical skype phone and provide cheap service that may be attract more people to use that.
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    With the emergence of "self-contained guest," hotel telecommunications departments must change its offerings because old strategies no longer apply. A self-contained guest is one that does not need the traditional amenities hotels would offer for telecommunications, such as fax machines and printers. Guests now look for a fast, free internet connection as an amenity. Some may not even need wifi, because they have a faster mobile service that they use. Even hotel telephones, guests no longer want to use the land line and pay hotel fees to make a call. Cell phones have eliminated that need (even for international calls). So hotels must not stay the same, and must change their strategies for producing revenue from their telecommunications department.
Yekaterina Ponomareva

IDeaS Revenue Solutions Announces Intuitive, Affordable Pricing System for Limited-Serv... - 0 views

  • IDeaS Revenue Solutions Announces Intuitive, Affordable Pricing System for Limited-Service Hotels
  • the leading provider of pricing and revenue management software, services and consulting to the hospitality industry, today announced the IDeaS Pricing System™ (PS).
  • IDeaS PS enables hotel managers to more accurately forecast occupancy, quickly set daily room rates, and ultimately make more competitive pricing decisions for their hotels.
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  • revenue lift
  • Customers of IDeaS PS will benefit from the following:
  • Increased time and energy
  • High impact initiative
  • Enhanced brand value proposition
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    The article talks about one of the most popular provider of pricing and revenue management for hospitality industry, which announced today a new pricing system -IDea. It offers effective and affordable pricing to any hotel. System is well-known by simplified and intuitive approach and requires minimum training and interaction to learn and operate the system.
ning sun

The Effect of Yield Management on Hotel Chains - 0 views

  • The basic concept of yield management is based in the economic principle of supply and demand: when supplies are short, prices go up; when supply is high, prices go down.
  • way to rate a hotel's performance is by determining its REVPAR, or Revenue Per Available Room.
  • The yield manager's job is to maximize the revenue per available room by selling rooms to the right customers, at the right price, at the right time.
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  • For example, a hotel that makes $6,000 one night with a total number of 100 rooms has a REVPAR of $60.
  • City hotel managers must take it upon themselves to learn about the corporations in their area and make personal connections with these corporate executives, learning their business cycles.
  • to stay competitive in today's market, any hotel that wishes to be successful must learn how to apply yield management techniques to their particular situation
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    this article summarizing the importance of the revenue management. it explains that to maximize the revenue, hotel have to see the rooms at the "right price to the right people at the right time". it also explains the difference in price based on the seasons, or business cycle. it encourages managers to recognize when the demand will go up and adjust the price accordingly. 
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    Yield management is a process by selling limited quantity of goods to create maximum profits. Successful yield management requires a manager to sell, such as hotel room, at the right time, right price, to right customer. To achieve this goal, manager should understand what the purpose of hotel, what the category of hotel, and why customer choose their hotel rather than others. And also should know the market principal about price fluctuate during off season and busy season. So it is necessary to know well about yield management in order to survive in the fierce competitive environment.
Qianqian Kang

Pricing intelligence tools offered by OTA's... to trust or not to trust? | By Ira Vouk ... - 0 views

  • Please don't misunderstand, compset data plays a big role in Revenue Management decisions (logically, those prices are what forms the market situation at any given moment) but one should never ignore the importance of internal hotel data like booking pace, group business on the books, number of vacant rooms, etc. It is impossible to build optimal pricing strategy without having this data on hand.
  • While many of those pricing intelligent tools offer valuable insights on the regional market situation, they shouldn't be used by hoteliers as a direct guidance for setting their room rates.
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    This article brings us into a deep insight of whether pricing technology offered by OTA is reliable or not. Firstly, two views should be considered before answering this question: one, there is a conflict of interest between an OTA and a hotel property; two, what data goes into their formulas, where it comes from and is it sufficient to make reasonable pricing recommendations. The author provided deep analyses for these two main point and came to the conclusion that: being sure that you know the game rules before utilizing those free pricing intelligent tools.
Patty Ferrer

Is Orbitz steering Mac users toward pricier hotels? - CNN.com - 0 views

  • (CNN) -- Is Orbitz trying to get Mac users to book higher-priced hotels?
  • "What we have found is ... that Mac users are 40% more likely to book four- or five-star hotels than PC users," Harford said. "That lines up with (the fact that) Mac users are typically more willing to spend more money on higher-end computers."
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    The equipment we use in technology such as out computer is not a determent of what prices we pay. Orbitz is showing mac users higher prices on hotels simply because they use a mac instead of a PC. The CEO states thats not a fact but facts prove that mac users are 40 % most likely to book a 4 or 5 star hotel. The engineers from Orbitz are experimenting with predicting what the consumer will search for and not giving mac users a higher price on hotel nights. Technology has now become a sterotype is how consumers are feeling by the futy posted in twitter. At the end of the day the consumer can search for different hotels prices and rooms no matter if a mac or pc user.
Nicole Dudley

GDS usage on the rise as travel demand grows - 0 views

  • Industry leaders’ speculations that the global distribution system is dying a slow death have lingered for the last decade, ever since online-travel agencies made their debut in the hotel distribution space.
  • A study conducted by the American Society of Travel Agents in 2009 found the percentage of member travel agencies that used the GDS channel declined from 98% in 1999 to 79% in 2009.
  • However, despite the decrease in GDS usage amid the most recent global economic downturn, hotel companies and travelers still find value in the channel, according to sources interviewed for this report.
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  • Sabre Travel Network, for example, saw an increase of more than 7% in its GDS bookings during the first quarter of 2012 over the same period last year
  • “And it’s a steady trend that’s gone up over the last several years,”
  • Many hoteliers are attempting to leverage those increases in demand through dynamic pricing models, which offers clients a percentage off a hotel’s best available rate on each travel date as opposed to a fixed, negotiated rate for the year
  • But that does not mean leisure travelers are not using the GDS as well.
  • “If they are shopping online with (the OTAs), then they are using the GDS
  • Indeed, overall demand has increased from both leisure and corporate travelers
  • Corporate travel demand is primarily responsible for that uptick
  • “Hotels that have typically had a negotiated rate for each corporation can actually work better with corporations with dynamic rates, as long as they are able to ensure they are giving that corporation access to whatever the deal of the day is
  • One of the trends she is seeing in the GDS channel is the increase of combined business and leisure trips
  • . “People are traveling for business in parts of the world and extending it to stay for leisure.”
  • There’s more opportunities for hotels to put promotions, put leisure opportunities on there … It enables hotels to really take value of the GDS.”
  • More and more, Kennedy is seeing corporate account managers ask: “What would you offer our travelers for their weekend stay if they wanted to stay longer or extend?” “What can you offer for group rates?”
  • The GDS is not going away any time soon because of the unique solutions it provides for hotels and travelers alike
  • For instance, it is better-suited to handle incredibly large look-to-book ratios
  • The GDS also provides enhanced marketing support
  • Although these and other benefits will continue to attract hoteliers’ inventory, Cole said the GDS would provide additional value if distribution costs were lowered
  • Travel-management companies are coming up with many security reporting and informative ways to show corporations where people are at any point in time, which can be important for insurance purposes
  • “Insurance companies are also pushing today that (companies) know where their employees are,” which the GDS facilitates,
  • The pricing model provides corporations with a lower rate when demand decreases but also gives hoteliers the opportunity to achieve higher rates when demand increases, Kennedy said. “It’s a win-win for both sides.”
  • Many hoteliers are attempting to leverage those increases in demand through dynamic pricing models, which offers clients a percentage off a hotel’s best available rate on each travel date as opposed to a fixed, negotiated rate for the year,
  • Corporate travel demand is primarily responsible for that uptick
  • Sabre Travel Network, for example, saw an increase of more than 7% in its GDS bookings during the first quarter of 2012 over the same period last year,
  •  
    This article is about the current rise in the use of the GDS system again. This rise has been seen primarily with corporate travelers, but has also been used by the leisure traveler. While GDS usage percents dropped from 98% in 1999 to 79% in 2009, it has slightly started to increase again. Sabre one of the larger GDS companies has seen a 7% increase in use of the system in 2012. Hotels have tried to give companies better rates to their consumers, for example as more corporate travelers are extending their stays from a business trip and then turning it into a leisure trip for a few more days. This gives the traveler a lower rate a night at the hotel, as they are staying for more nights. Overall, while there was a decline in the use of GDS because of the OTA, there is now a slight increase, bringing life back to the GDS system.
  •  
    This article gives an in depth explanation of the importance of GDS's in the hotel industry and the increased usage of the GDS due to the rising travel demand. The American Society of Travel Agents conducted a study in 2009 and found the percentage of member travel agencies that used the GDS declined from 98% in 1999 to 79% in 2009. A significant portion of the decrease was due to the economic downturn, but regardless hoteliers and travels still found value is the GDS channel. According to Sabre Travel Network, there was an increase of more than 7% in GDS bookings during the first quarter of 2012 over the same period last year. The demand for corporate travel is the main reason for the increase. Many people that are traveling for business want to extend their trips for leisure. This allows hotels the opportunity to adjust their pricing strategies by putting travel promotions for leisure for the business travels as well. Many people utilize the GDS to find the most affordable prices, but it is also beneficial to hoteliers as well. Elaine Kennedy, one of the two interviewed in the article, stated the pricing model provides corporations with a lower rate when demand decreases but also gives hoteliers the opportunity to achieve higher rates when demand increases, which ultimately is a win-win for both sides. The GDS also provides many opportunities for hotels to cut costs. Robert Cole, the other person interviewed in this article, stated "The GDS also provides enhanced marketing support….immediately when you use the GDS to put your product, your service, your room, your rate, you're getting it in front of an audience without using your own marketing budget." According to Robert Cole, the GDS is not going away any time soon because of the unique solutions it provides for hotels and travelers alike. I believe this article was very informative on how the GDS is currently being utilized and where it is going in the future. It basically helped answer question 3
ypere044

The Software Algorithm That Turns Hotel 'Lookers' Into 'Bookers' - 0 views

  • n't they just lower their prices to fill all their rooms?
  • The problem for them (and hotels too) is determining how low to go to sell any empty inventory. They can't, so they don't.
  • Miami start-up helps hotels determine this ethereal price-point and maximize the revenue yield for each property and its rooms.
  • ...4 more annotations...
  • REVPARGURU
  • they took financial industry software algorithms traditionally used for predicting derivatives and other complicated financial vehicles and then applying them to hotel room rates and availability. This maximizes the revenue/profit yield
  • a shift from offline to online.
  • 'Live P&L'
  •  
    The article "The Software Algorithm That Turns Hotel 'Lookers' Into 'Bookers'" poses questions about the pricing algorithms in the airline and hotel industry. It then introduces and explains the software developed by Bruno Perez and Jean Francois Mourier called REVPAR GURU. In essence, the software is a revenue management system that analyzes data points online and internal factors within the company to provide suggested price-points to maximize profit. I believe that this software simplifies the job of the revenue manager because with the software they no longer have to agonize over data about reaching capacity at the highest room rate, they now focus on the data given by the software and its suggested prices. The idea for the software stemmed from the fact that we are going through a shift from offline to online in our society and more and more people are now doing their bookings online. I believe that this software has the right idea and is available at the right time during the shift to online. As more and more companies adapt, adjust, and use the online world, this program will continue to succeed. 
ysuarez123

Want to Relax in a Nice Hotel for 15 Minutes? An App Can Make That Happen - The New Yor... - 0 views

  • By-the-hour hotel rooms aren’t a novel concept.
  • But while these brief rentals are traditionally found at budget hotels, the enterprises today involve higher-end properties and are targeting middle-class to affluent customers for considerably different purposes
  • The guests who might book these rooms, he said, include travelers with layovers, corporate travelers who need a quiet place to work and don’t have an office in town, and locals who are seeking some downtime during the day and find it more convenient to check into a hotel near where they are rather than go back home
  • ...5 more annotations...
  • Dayuse.com, available for 4,000 hotels in 22 countries, also partners with three- to five-star properties, with a three-hour minimum on reservations.And now, with the app Recharge, users can book rooms by the minute at luxury properties in New York City and San Francisco
  • Recharge’s customers — more than 30,000 as of November — are mostly locals and include mothers who want a clean place to nurse their babies or pump their breast milk, people seeking a quiet space to take a phone call and those seeking a midday reprieve. “We’ve even had fathers who need to change their child’s diaper and would rather do it in a hotel room than in a coffee shop bathroom,
  • According to the company’s research, a 250-room property can get almost 275-rooms’ worth of revenue in one day from these short stays
  • Every hotel listed on Recharge’s app has a service fee, ranging from $30 to $50. The more luxurious the hotel, the higher the fee. After the service fee, per minute prices for the stays range from 50 cents to $2.
  • Recharge is easy to use and has an appealing list of hotels. In a market in which companies sell stays at properties for small chunks of time, the brand’s by-the-minute feature helps it stand out
  •  
    This article focuses on new hotel apps, focusing on Recharge, that let you rent upscale hotel rooms by the minute/hour. As the article states, this is not a new concept and has been offered in the pass usually at motels. This app looks to change the demographic of those looking to rent hotels for a small amount of time. The app is already active in popular cities around the world, they aim to only work with 3-5 star hotels. I downloaded the app and thought the pricing was a little concerning, but it goes back to the demographic the app is targeting. Recharge aims to appeal to travelers with long layovers, business people looking for a quiet spot in between meeting, sight seers that may need a nap, and even mothers looking for a safe place t publicly breastfeed. Their pricing is right in line with their target demographic as the cheapest price is usually around $30 per hour, and there is always a service fee; the author of the article talks about staying in a hotel for 15 minutes and paying $65 dollars. Personally the pricing is a huge setback, but business wise it makes sense. You are covering the cost of housekeeping having to go in and reset the room, and front desk reprogramming the keys/ handling check in and check out. While I think the system could create a bit of a challenge for hotels in terms of making if something is ready and clean or not, it is another opportunity to increase revenues. This app especially during the slow season for hotels, could help them fill their less desired rooms, if only for an hour. It is similar to a restaurant way of thinking "How many times can we flip this table (room) in peak hours". I may not use the app, but if I was traveling with friends and splitting the cost, I would definitely take the opportunity to pay a few bucks to nap in a 5 star resort.
nbakir

Is 2020 the Year of the GDS? | By Scott Falconer - Hospitality Net - 2 views

  • Technology can play a major role in helping properties win more bookings, through advertisements, display, and keywords
  • It will be interesting to see how GDS usage and other distribution channels continue to evolve throughout 2020.
  • The overall contribution of GDS bookings indicates that it is still a very relevant and growing channel and often delivers the highest ADR.
  • ...8 more annotations...
  • However, certain keywords can and do drive them to book a property, such as "price", "offer", "rate" and "discount". Globally, 4 out of 10 survey respondents agree these types of words would encourage them to book.
  • In our survey, 7 out of 10 agents say it's important to include icons with the words "free" or "complimentary" in ads. In 2020, hoteliers should review their current strategy for the GDS and consider whether they are using the platform to its full potential.
  • Rate parity (ensuring that the same room is priced identically across all distribution channels) will continue to be of utmost importance.
  • Our research shows that 9 out of 10 travel agents rank rate parity as 'very important' or 'important' in their search.
  • When the GDS does not offer full rate parity, 6 out of 10 travel agents actively book away from that hotel property.
  • Travel agents are booking hotel reservations on the GDS in record numbers, from 42 million ten years ago to 79 million in 2019. On average, they book 22X more room nights than consumers, making the GDS a prime channel for hotels looking to increase revenue.
  • the GDS does not offer full rate parity, 6 out of 10 travel agents actively book away from that hotel property.
  • ordin
  •  
    This article speaks on how GDS are doing in the age of 2020. Not only does it talk about how its doing over all but it also goes over how they remain successful with the new times. Keeping up with changing demands and trends.
  •  
    This article talks about how GDS system usage has been and continues to increase over the years. While many owners prefer direct bookings on their site. GDS has been increasing at a faster rate than other channels which are used by travel agents. Hotels need to e using the GDS platforms in 2020 and beyond to maximise the benefits that it brings.
  •  
    Scott Falconer's article, "Is 2020 the year of the GDS," entails discussion of the survey results of the DGS site as the most sued and rapidly growing site for booking by travel agents. Falconer also advises hotels and other travel agents to optimize the use of the GDS site to increase bookings and therefore profitability. In discussing the survey results, Falconers also suggests the GDS increase its potential by maintaining parity, observing prices, and promotions are critical in its continued growth. Falconer's finding first indicates that GDS usage has significantly grown in the past ten years. The author notes that by 2019, the number of travel agents using the site of GDS to make bookings had increased from 42 million to 79 million between 2009 and 2019 (Falconer). In the recent past, Falconer argues that the ratings and growth in usage of the site provide hotels with opportunities to grow revenue as the site makes 22 times more bookings than consumers. Through surveying with 900 travel agents, Falconer concluded that GDS is a prime channel for bookings because of its recent fast growth compared to other alternative booking sites. Secondly, Falconer notes that there is a need to stabilize the parity rates for the GDS channel to succeed. Based on the survey, most travel agents indicated that parity rates are influential to the decision to book a facility using the GDs site or others. Therefore, Falconer advises the GDS management to ensure the consistency of the price that properties offer to clients on other channels. The services listed in the sites are available as indicated at the property. In this case, the GDS can improve booking experience by clearly stating commissions, discounts, or cancellation policies at the site to increase the availability of information to the clients regarding the nature of commitment and expected services as the promised value. Falconer also highlights the importance of adver
jackyreis

Price Comparison: 7 Best Event Registration Software - 1 views

  • Price Comparison: 7 Best Event Registration Software
  • How to Choose Event Registration Software
  • Key Features
  • ...25 more annotations...
  • Reputation
  • Attendee Engagement
  • Extra tools 
  • Pricing
  • 1. Eventbrite
  • Pros: Eventbrite is a software that is commonly used across industries. It’s a good choice for a small social event or party as well.
  • Cons: This software may be good for event registration but lacks attendee engagement functionalities. The fee has also been steadily increasing. 
  • 2. Whova
  • Pros: This event registration tool may be a good option especially for European events. It is a robust software for large enterprise-level conferences and trade fairs.
  • Cons: If you expect fewer than 50 attendees, or if your event is a wedding or party, Whova may not be a good fit.
  • 3. Xing Events
  • Pros: Whova has almost the lowest per-ticket price in the industry, capped at $5, so it is a great option for higher ticket prices. It also offers a suite of features that significantly boost attendee participation and interactions through the event app. Two birds, one stone (read more: save money on event registration tool & double audience participation).
  • Cons: It offers an app for event check-in, but similar to other traditional brands, its strength may not be in offering modern mobile technology for audience engagement and attendee networking.
  • 4. Brown Paper Tickets
  • Pros: They work well with charity events, performances, and various non-profit / school events.
  • Cons: This software may not be a great choice for mid- or large-scale conferences, and some customers have complained that the reporting is not very robust.
  • 5. Wild Apricot
  • Pros:  It may be affordable for a small community’s regular gatherings. It has various pricing options for different types and sizes of organizations. It is integrated with Whova all-in-one attendee engagement and logistic management system, so you can easily sync your registrant information with Whova.
  • Cons: If you only have an annual event and do not need to manage membership, it may not be a good fit for you.
  • 6. Ticketleap
  • Pros: This event registration software is simple to use and works well with relatively small events and performances.
  • Cons: It doesn’t offer the complex organizational tools of conference registration software, so it might not be a good fit for large, multi-day, multi-track conferences.
  • 7. Constant Contact
  • Pros: Constant Contact easily integrates with other systems (e.g. Whova, Eventbrite) so you can build invitations and registration into your email marketing campaigns.
  • Cons: This is an unnecessary solution if you don’t intend to send many emails to your contacts, as you will still need to be an Eventbrite customer to use the registration feature.
  •  
    This article was able to summarize all the different event registration softwares that are available currently and their pros and cons. It gives you a good idea on what software you would prefer for your company depending on what they have to offer.
Manali Rabari

Hotel Room Rates Undergo Closer Inspection by Corporate Buyers - 4 views

  • Corporate buyers will be able to gain greater control over hotel room rate negotiations and compliance with the inclusion of intelligent rate parameter data in their benchmarking reports. RateTiger’s introduction of rate filtering technology to its award winning rate data product, RTCorp, will provide direct hotel pricing comparisons in line with hotel product type.
  • Corporate buyers will be able to gain greater control over hotel room rate negotiations and compliance with the inclusion of intelligent rate parameter data in their benchmarking reports. RateTiger’s introduction of rate filtering technology to its award winning rate data product, RTCorp, will provide direct hotel pricing comparisons in line with hotel product type.
  • orporate buyers will have the business intelligence to match travel expenditure to their budgets and give travelers greater flexibility of hotel choice based on Best Available Rates (BAR).
  • ...3 more annotations...
  • “Corporate travelers are noticing fluctuations in Best Available Rates (BAR) online and need to compare these public prices to their negotiated contracts to ensure they are getting the best deal
  • Corporate buyers will have the business intelligence to match travel expenditure to their budgets and give travelers greater flexibility of hotel choice based on Best Available Rates (BAR)
  • “Buyers need to shop rates that are comparable to their purchases, by setting simple filters that identify room types and meal plans, etc therefore making more accurate price comparisons. Crucially all filters are shopped regardless of the specific view defined. This allows the user to change the parameters after the shop without the need to shop again, making more detailed data available faster.”
  •  
    As technology continues to advance, companies are looking into what works well for what kinda consumer. RateTiger is targeting corporate consumers, who want to be in control of room rates and have the ability to negotiate better deal based on services provided. RTC uses RPS, rate parameter shopping that searches thru hundreds of travel sites, hotel brand sites and GDS offeres corporate buyers, OTA's and travel companies the opportunities to build a rate around the best room rate for the perks and services, in comparison to what the public pays.
  •  
    Excellent Article!...While corporate travelers are noticing fluctuations in "Best Available Rates (BAR)" I can only imagine that hotel owners and stakeholders are seeing a decrease of revenue caused by the ADR (Average Daily Rate). During the recession hotels had to re-shape their thinking and lower Corporate Room Rates to stay afloat; these changes caused the ADR to be lower than usual. As the economy improved, it has been harder for companies to re-negotiate corporate rates in an attempt to increase the ADR and profits for owners/stakeholders. http://www.bcdtravel.com/global/show_document.asp?id=aaaaaaaaaadsveg
  •  
    This technology will provide business travelers the ability to compare hotel prices based on the type of rooms. This will help the customer in customizing their own needs during travel, while being price savvy. The traveler also has the ability to have default settings that will meet their own room specifications.
Dalton Draper

Integrating e-commerce into a hotel's overall business strategy - 0 views

  • commerce should be a compliment to every part of a hotel's operations. All staff members need to be briefed on the advantages of taking a collaborative approach to e-commerce
  • needs to understand the correlation of stellar customer service on online guest reviews and the ability of a hotel to sell its products online.
  • sales departments
  • ...16 more annotations...
  • understand the advantages of using e-distribution channels to aid travel agents and offline sales and get involved in the process
  • But hotels are trying to use e-marketing more effectively as well as focusing on social media outlets to lure prospective customers to their direct channels
  • At the end of the day, the channels that provide the most conducive environments to consumers (i.e. price, ease of use, accessibility) will win the business.
  • What do you think is the most critical aspect of integrating e-commerce into a hotel's overall business strategy?
  • Maximising direct business is most critical as it is the most profitable strategy for a hotel.
  • Ratings and reviews are a trend that is becoming more and more important. I've read that nearly 50% of consumers won't choose a hotel until they read a review. Hotels and brands need to consider this.
  • Earlier this year, an e-commerce professional mentioned that customers do not like pre-made packages, they love to package themselves by cherry picking on different sites.
  • The packaging site of tomorrow could just be a travel shopping cart that lets you add different components from different sites then price it for you when you are ready and even finding the lowest price and you are ready to book.
  • Price and quality are now more transparent than ever and sites that are more transparent will enjoy more conversions
  • Online travel shopping is still in its infancy. What we need to do is facilitate what consumers really want.
  • As an industry, we are not very sophisticated regarding our need for and requirement of intermediaries. In dire times, we are very aggressive with them
  • we must understand the true cost of bookings through each channel.
  • We need to understand when we need them and when we don't so we can minimise cannibalisation.
  • We need balance. There should be a partnership. It's unfortunate that intermediaries feel they need to cannibalise. Margin and share of business needs to be fair for both entities.
  • Which according to you is going to be biggest development in the travel distribution space this year?
  • Mobile. There has been quite a bit of traction, and we have plans of our own for this space.
  •  
    This interview talks to Gareth Gaston, senior VP of Global E-comerse in the Wyndham Hotel Group, about recent trends in E-comerse.He believes that E-comerse should be apart of every department in the hotel, Front Office, Sales, Marketing, and the departments should help the Online Travel Agencies to draw more guest. Mr. Gaston believes that hotels need to start to create a partnership with online travel agencys(OTA) and begin to create a better system for price consolidations online rather than fight them at every turn for overbooking or under-pricing.
Yi Pan

IHG invites corporate accounts to embrace dynamic pricing - 0 views

  •  
    Highlight: IHG (InterContinental Hotels Group) is inviting preferred business accounts across Asia Pacific to move to a dynamic pricing model, guaranteeing corporate travellers to always pay less than best unrestricted rates at its InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express in the region. My Description: InterContinental Hotels Group is making efforts to turn its original accounting and pricing system into a more dynamic and flexible one, which can make more market-sensitive hotel rates according to the demand situation. Currently , IHG is trying to increase the scale of market-sensitive rates to the traditional contract rates. Therefore Corporate travel managers should feel confident they have access to the best possible rates in hotels of IHG. This model guarantees they will pay less than any other unrestricted rates. One advantage of this market-sensitive accounting and pricing system to annualized rates is to respond to unexpected market condition. This dynamic pricing system will not only help corporate managers to reduce related costs but also bring more convenience to corporate travelers as the increase of booking channels. The application of IHG's dynamic pricing system bring many positive feedbacks, especially as these corporate customers usually end up paying less than their RFP-contracted counterparts
jmelilli

Investigation: How airlines gain an edge through pricing (Part One) | PhocusWire - 0 views

  • If airlines work to address these shortcomings, we estimate they could
  • These tactics are already employed by other industries (notably online retail), and with the increasing power of advanced analytics, airlines can profile customers in ways not possible just a few years ago.
  • If airlines work to address these shortcomings, we estimate they could
  • ...5 more annotations...
  • A proactive scrape of individual markets and testing of new price points would pinpoint the optimum market equilibrium.
  • Amazon’s method, backed by a pricing team of 16 experts and 1,400 developers wielding two acres of underground servers operating with machine learning, generates custom prices based in part on an individual shopper’s attributes.
  • Precise and detailed forecasts would allow a near-perfect calculation of an acceptable minimum price for the core ticket to capture the rest of a customer’s spending on ancillaries.
  • And targeted, customized offers generated with the help of advanced analytics would create additional revenue streams.
  • airlines can calculate exact profitability and the likelihood that the passenger will purchase ancillary products.
  •  
    This article describes the potential in the airline industry for practicing revenue optimization based on the data they collect from their customers and using it to tailor their prices. The argument is that these companies already have much of the data stored they just are not currently using it to its full potential in this digital age. The benchmark the author uses is Amazon. This is part 1 of a 2 part series. 
lamia elachchabi

Marketing and e-business for the tourism industry - The Globe and Mail - 0 views

  • Marketing and e-business for the tourism industry
  • With increasing competition in the tourism industry, successful entrepreneurs know that a good marketing plan is vital to success.
  • Tourists and enthusiasts have quickly adopted the Internet as a preferred means of shopping for excursion and destination venues which allow them to quickly compare accommodations, aesthetics, services offered, and prices.
  • ...8 more annotations...
  • E-mail newsletters and promotions: Consent of the recipient is essential - and the frequency should not be intrusive.
  • Build traffic through Web links with other sites
  • Get involved in discussion sites related to your specialty
  • Simplify off-season bookings: offer online reservations
  • Extend the season through auction-style sales of fringe-season packages
  • customers and by advertising in high-draw areas. Increase a Web site's marketing pull: form a marketing ring of related operators
  • Generate more customer attention and create related product marketing opportunities: become a source of information on your area or industry
  • Grow profitability: analyze customer information to optimize marketing efforts
  •  
    Marketing and E-business for tourism industry A good marketing plan is important to the success of businesses. There are several guidelines and ways to use electronic medium to stay competitive. A business has to always take care of the existing customers and their needs without forgetting to attract new customers. Tourists are using internet to shop for new destinations so an online presence is very important for consumers so they will be able to find out information about the business. There are several guidelines to consider: * Promptness people expect to get a response within a reasonable time. * Quality means that your website should be able to compete with other websites on the internet and this means that it should have good quality photographs and professional tone to the websites. * Consistency means a good consumer service and a professional image. There are many ways to promote services online: email newsletters and promotion, building traffic by working with other websites, offer deals, get involved in discussion sites about the industry you are in. During an off season bookings, simplicity of booking should be a priority. Tourism operators should join travel and tourism "mall" to offer their products and host their site and use these low cost services. Companies can also promote their products online by offering auction style sales that helps consumers have some kind of control over the prices of the different services in tourism. One of the perks of online shopping for travel services is the price transparency and the fact that costumers have choices of different prices in front of them. Company should Increase a web marketing pull by offering different services and also advertising with other companies. Promote and minimize the costs of the services by adding "do-it-yourself" features. A list such as: A FAQ, maps of location of other area attractions and local guides for rental outlets. To improve the way you market your products and
Fang Shu

Google Hotel Finder revisited - 7 views

  •  
    This is an interesting article about Google, who is quickly becoming a big name player in just about every business segment out there. The article addresses Googles new search tool called Hotel Finder, which is still in testing phases. This tool is designed to make it easier for users to find, compare, and book hotels, by drawing on a map around an area they want to stay in a certain location or city and it lists the hotels in the search area, with prices, availability, star rating's and reviews. In addition it lets you filter the results by price, price compared to usual, Hotel class, and user reviews, and allows the user to book directly through the hotel or through an intermediary site with a click of a button. This article also talks about a possible downside to Googles new service in the online travel agency segment. The article explains how some are concerned, because Google is placing comparison ads in premium space on top of the Google search results for hotels, which when clicked by a user takes the them to the full Google site and pushes OTA sites like Expedia, Hotels.com, and Orbitz and hotel websites farther down the search results list, which is making them pay more for premium Comparison Ads. Also the OTA's are concerned about how the Price Per Click may go up, making the OTA's pay more to Google. I went on and played around with Hotel Finder, and I have to say it is very easy to use, and allows you to really customize your experience and pick exactly where you want to stay. http://www.google.com/hotelfinder/#search;l=miami+florida;d=2012-01-22;n=1;v=l;r=0;s=m;fv=
  •  
    I love the part of the Google Hotel Finder about the comparison ads that help me know how much I would pay if I book the same hotel from other websites by only visiting one Google Hotel Finder website. I hate to search the same hotel on different websites to choose the best price. It costs me much time to make a plan of travel. The page of Hotel Finder is clear and easy to understand how to use it. All results of hotels would be sorted by price and I could get best price fast. Yesterday was my first time to use Hotel Finder and I used it just like I already knew how to use. I don't need to spend much time to study the search website and the page has several recommended words to help me get what I want.
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