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Geographic information systems (GIS) are powerful tools when married to data.It is useful to analysis the trend and patterns of hotel operation with RevPAR and other STR database. To divide segments in the whole hospitality market with different color is one of its special advantages to other hotel software

Hotel bookings made through the Global Distribution System, in 2018, increased drastically. The success also means that the ADR return was also largely increased. Despite its major success in 2018, the article advises hungry hoteliers to look for options that will have a high ADR return, in order to maximize RevPar performance.

I wonder what the growth stats would be for this fiscal year?

Property management systems (PMS) were originally only for front desk needs like booking reservations, checking guest in and out, charging accounts, and managing room assignments. The newer PMS systems have enhanced the check in and check out process, maintenance and housekeeping management, and accounts receivable management. The check in and check out process has been enhanced by the newer cloud based PMS systems by giving the front desk the ability to provide service anywhere and anytime. It is more accessible and can update room statuses in real time. As housekeeping cleans rooms the room statuses are updated through their mobile cleaning device into the PMS system. Also, the PMS system allows the front desk to communicate with the maintenance and housekeeping staff for last minute guest request and complaints. The cloud based PMS system also allows the front desk to have access to revenue management. This way the front desk can have access to accounts receivable and update it as payments come in from previous guest. This enables faster and more accurate billing for guest. As technology advances it is important for the hospitality industry to stay updated so that guest and employees needs are met. Keeping up with the technological trends allows companies to remain competitive.

This article tell us what is PMS and what benefits it can brings to the hotels operation. Automating daily operations and administrative tasks is an important part of achieving customer satisfaction as it helps provide reliable and quality service time after time. A hotel is a complex system that encompasses the activities of many departments, and every operation must be tracked

More than a "platform that enabled a hotel or group of hotels to manage front-office capabilities", modern PMS is "a critical business operations system that enables hoteliers to deliver a seamless guest experience" by integrating many other systems. PMS offers many kinds of benefits to hoteliers, including improving housekeeping services and revenue management. The deployment of PMS is also a consideration. While most PMS systems were on-premise, there do have cloud-based ones that reduces cost in an innovative way. It also helps in enhancing customer lifetime value and increase RevPAR and ADR.

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. 

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.

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. 

This articles describes the importance of E-commerce and social networking on the hospitality industry. The social sites like facebook, twitter and instagram has proven beneficial for the marketing of the hospitality industry. Individuals post their experience on these networking sites, which indirectly helps in marketing of the hospitality firms. The use of internet and hotel website has proven, to increase the revenue of the hotels, many people book directly through the hotel websites, which increases the revenue for the hotels as well save the commission paid to the travel agents. The loyalty programs introduced by various hotel, took a new shape all together after internet became the major source in these hotels. It was convenient for the guest to check how much points the have in their account and the tier level. The hotels also started offering guest extra points to their account, if they booked the room directly through the hotel website. This resulted in an substantial increase in the RevPar of the hotels.

This article is very interesting because it breaks down everything about investing in the hospitality industry. Hospitality is one of the few properties that shift in supple and demand can be felt immediately. The article explains that hotels have no lease agreement so they are able to market on a daily basis. This is why they are able to raise the prices on the rooms. I really like how the article describes the key metrics used to evaluate hotel performance. The article also explains recent changes in the hospitality industry that have brought to the market new types of hotels. It is important to note that the two core customer groups that fuel demand are tourism and business travelers.

This article talks about how property management systems have changed over the years. Previously the main purpose of the PMS system was focused on back-of-the-house functions like guest registration and housekeeping. Now some PMS systems are equipped with everything from the ability to automate transactions with travel agents to in-room entertainment. These systems are enabling hotels to better serve their guests. Typically full-service hotels and resorts would require more complex PMS systems, but smaller select-service could manage with simpler systems. The overall goal of a PMS system is to increase profitability and RevPar. These new systems are more streamlined across all operations, which enables hotels to meet their goals.

"Today's systems now generally include channel management capabilities, including a web booking engine and global distribution system connectivity to automate transactions with booking agents. Many systems now integrate with third-party technologies like point-of-sale (POS) software, accounting software, keycard and access control systems, self-service kiosks, internet and telephone systems and in-room refreshment (minibar) and entertainment applications. Some systems now come with marketing and sales tools for creating targeted promotions and campaigns based on individual guest profiles, behaviors and preferences. Some systems also include robust data analysis capabilities for generating business intelligence, including insights into emerging trends. Built-in customer relationship management features can help engender higher levels of guest satisfaction, which invariably leads to not only more repeat stays but also a larger volume of positive brand advocacy - e.g., favorable reviews on TripAdvisor and other popular sites - ultimately translating into increased hotel occupancy rates and revenue per available room (RevPAR)." This article explains the advancement of PMS systems in contrast to the traditional POS software and its limitations. Todays PMS systems offer not only booking capabilities but operational room features as well. Market capabilities are now also available directly from these new PMS system which were previously handled elsewhere.

My article was very interesting and it was about the evolution of hotel PMS over the past 10 years. Early generations of hotel property management system only had the necessary features and functions like room inventory maintenance and housekeeping assignment. But now some PMS have been developed to meet the end-to-end needs of modern day lodging properties in ways that could be difficult to imagine a decade ago. Some systems now even come with marketing and sales tools for creating targeted promotions and campaigns based on individual guest profiles, behaviors and preferences. With the help of technology, property management systems for hotels have great opportunities to be improved because the goal of every software should be to provide the best service for the guests based on their information.

The article talks about the integration of a new system called Rainmaker and RoomkeyPMS. The trend of using the "cloud" is ongoing, as RoomkeyPMS is software that is "cloud-powered" which helps to facilitate the way the front office handles their operations. Rainmaker integration with the PMS, on the other hand, is to help the back of the house. It is meant to increase hotel bookings and "streamline operations and revenue optimization processes". Highlights the first boutique hotel in Charleston, The Spectator Hotel, are the first to adapt this new collaboration to improve the way data is being accessed. Based on the article, the hotel is using these cloud based systems to be able to offer more innovative service to their consumers especially when it comes to how revenue is being handled. I think that having to cloud systems working together can be kind of difficult especially when they serve two different purposes. But with that being said, both softwares seem to work for the best individually. Having the ability to try this out on a smaller boutique hotel would be for the best because it allows hoteliers to conduct analysis for the systems on a smaller scale.

According to this article, there is a common misconception that Travel Agents always book through GDS's and that they are the reason for increase in GDS bookings. This is false. As years pass, Travel Agents are losing their value over the online world that now consumes everyone's time. According to the article, in 1995 there were approximately 35,000 accredited travel agencies and last reported, in 2015, that number dropped to 12,780! I personally thought that Travel Agents were the main reason for the grand majority of these GDS bookings, but in the article they mention a fair point - Travel Agents have access to GDS, but if rates are lower elsewhere, they will not book through the GDS. It is important for a hotel property to track what rates they are showing on all channels.

This is one of the topics that has greatly affected the hotel industry. When guests seek the lowest rate possible, we are losing potential revenue and considering a travel agent seeks commissionable rates, our net profit is much less than the displayed rate.

This is an informative article, published by Sabre, on how to utilize certain technologies and stay agile during Covid-19 in the hotel business. It emphasizes how to keep and maintain a hotel during these trying times. Never stopping trying to improve and to keep an eye on all aspects of sale, occupancy, and position in the GDS. It's important to keep everything in the perspective of short and long term solutions.

This article describes accounting software functions within the Hotel industry. The article states that "Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry". It is said that when selecting accounting software, you must identify what results you are looking for from the software; and also the functions that you are able to receive. You must also understand the needs of your property, and industry. The article also discusses various decision criteria, which is a part of the selection process. Some of these criteria's that you must look out for are: annual revenue, budget, location, multiple sites, national or international locations, in-house verses outsource operations. I love the fact that this article also discusses the functions of hotel accounting software. Some of those functions that were stated are: account payable, account receivable, and payroll. The article also brought up some trends about hotel and lodging accounting software. One of the trends that stand out to me was the fact that some companies hand over their entire accounting responsibilities to major accounting companies or, accounting firms; this is referred to as outsource. Having a accounting software is a very beneficial asset for a company.

The hospitality industry has had steady growth, with increasing demands for internal controls and financial accountability. Accounting software is crucial in measuring and tracking the hotel's profitability. Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. So it's important for hotel manager to choose the suitable accounting software. This article tells how to select hotel accounting system properly. Including the decision criteria used in selection process, areas of functionality in hotel accounting software and standards used for accounting and auditing in hotel industry, etc.

Hotel managers are often faced a lot of problem to deal with the accounting system. Now hotel manager can manage all of the accounting responsibilities by use hotel accounting technology. Using Web-based hotel accounting software can save your business money . The functions covered in all of the accounting systems.

This article caught my eye because I think we can relate to the hotel projections for Miami this year. It basically states that everyone wants to be in Miami, and I can see why. I also agree with the topic the article touched up on: Miami is a melting pot. It is, as it states, a "...commercial hub linking the United States to Latin America..." I think that the rising tourism in Miami can help increase revenue and can eventually continue to market Miami is such a positive light. Yes, every city has its flaws but I think Miami will continue to bring in tourists and hopeful residents. 

Starfleet Research, a leading technology research company has released their 2019 decision guide on how to maximize efficiency on a hotel's PMS. The research company argues that according to emerging trends, it is wise to invest in data analytics and developing strong revenue management strategies. Competition is growing everyday, and in order to have an advantage over the market, businesses need to go past the surface of regular PMS, and utilize those with advanced insight tools. The guide provides hoteliers with unbiased information on choosing the best PMS to beat out competition.

Currently Hotels are trying to maximize their direct bookings and minimize the use of GDS & travel agents. However, this may not be beneficial in the long run because the use of travel agents is on the rise again. Travel agents are not only valued for their expertise, but appeal to the luxury segment of travelers who will bring high rates.

This article explains hotel revenue management and how to streamline the revenue of your property. Revenue management is the marketing and selling of your hotel products to guest. It could be the selling of rooms or additional products your hotel may offer. Every traveler wants to see the value of there dollar spent.

Hotels rely on the information that is accessed through different intermediary systems that give each property information on their customers, as well as insight on their comp set. OTAs play a key role in assisting properties generate revenue, they have different processes in place such as pay per clicks or commissions involved when bookings are made through their websites. Marketing plays a key role in both OTAs and a properties direct website. Websites must be user friendly, easily accessible and have the ability to function on a mobile device. Majority of bookings are made online and and increasing amount are being made through a mobile device. Ensuring that each of these platforms creates a welcoming environment for each potential guest maximizes the chances of them booking.

An effective marketing strategy starts with knowing your customers and your goals. it is important to understand how to attract online shoppers, increase conversion rates, and have data mining tools to understand the customer's preferences and booking patterns to be able to develop a long-lasting relationship.OTAs and GDS remain an essential part of the industry, as they provide marketing exposure to a wider range of market segments.

This article is a big time eye opener how robots are already in place taking away plenty of jobs in every department. I highlighted some of the jobs they are currently doing and how much labor cost money the hotels are saving. Yes we love the new technology but it can also be a little intimidating once they start eliminating jobs. It really points out what we may not find obvious on how majority of the hospitality companies are already in use with artificial intelligence technologies. I believe in 10 years the world will be a complete different place and robots will take over for the most part!