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Capital Expenditures in Technology

This article will give you the basic skills necessary to evaluate a proposed IT investment.These skills can be used in any industry including hospitality. At the beginning, it explains some basic IT investment analysis terminologies. Then it introduce two IT investment analysis methods: NET PRESENT VALUE; PAYBACK PERIOD. It also contains some link that would teach us how to use EXCEL to calculate data.

This article explains how important it is to analyze and interpret new forms of IT technology to make the best purchase or investment. The articles starts by describing terms used in IT Investment. The first term is Capital Expenditure, which is any expenditure not for the usual maintenance and upkeep of the hotel or restaurant. For example, a Capital Expenditure would be obtaining a new PMS or renovating your banquet facility. The next term is Depreciation, which everyone should know is the amount of money lost on an investment of the course of its life. The third and fourth terms are Cash Flow and Discount Rate. Cash Flow is "the movement of cash in and out of the business", and Discount Rate is "analysis based on the dollar being worth more today than in 5 years". The second part of the article talks about investment techniques used. Many methods are used to help make sound investment decisions like NPV. NPV is Net Present Value, which is an assessment of long-term profitability of the investment made by adding together all the revenue over its life and deducting the costs involved. Another technique used to evaluate an IT investment is the Payback Period. This helps to evaluate how long it will take to make back your initial investment in the IT. The article goes into grave detail on both of these methods and believe this article can be very helpful for hotel/restaurant managers and owners when determining which investment should be made.

Proximity Geofencing marketing allows company to micro-target people based on where they go. Digital geofences can be placed around the perimeter of a location and will send passerby's advertisements regarding that location. Beacons run off bluetooth resulting in more indoor use due to range capabilities.

Thanks for sharing this article on Proximity Marketing Geofencing Versus Beacon Marketing. I learned quite a bit from this post, for example, the benefits of Proximity Geofencing Marketing; particularly, a) the ads will continue for up to 30 days after persons leave the location, b) this technology is compatible with multiple types of devices and c) less set-up time is required.

"Green computing, also called green technology, is the environmentally responsible use of computers and related resources. Such practices include the implementation of energy-efficient central processing units (CPUs), servers and peripherals as well as reduced resource consumption and proper disposal of electronic waste (e-waste). One of the earliest initiatives toward green computing in the United States was the voluntary labeling program known as Energy Star. It was conceived by the Environmental Protection Agency (EPA) in 1992 to promote energy efficiency in hardware of all kinds. The Energy Star label became a common sight, especially in notebook computers and displays. Similar programs have been adopted in Europe and Asia."

The article "Why we care about location marketing" discusses the pros and cons of location based marketing. Location based marketing delivers ads and offers to audiences based on their location by using 3 primary methods: geofencing, geotargeting, and geoconquesting. This in turn increases foot traffic, helps boost customer loyalty, and gives insight into what a customer wants; however there are certain concerns such as privacy concerns. All in all, in 2022 advertising via mobile devices captured the largest share of digital advertising at $34 billion.

The article discusses the pros and cons of the GDS. It also addresses the role it plays for helping smaller businesses in standing out to a large group of potential customers. Furthermore, the GDS has gone through many changes since the 1970's, but it is still thriving and overcoming new obstacles today.

Nothing ground breaking from what we have already heard. But the lack of response from the majority of the industry to implement is astonishing.

Rapid Check-in, Easy & secure payments, Personalized Guest Experience, Quick Payment all sounds really good but there's other uses, tracking employees.

This article talks about the biometrics in hotels. For example, In China, there is facial recognition to check into the hotel. Facial recognition can also be used as a "room key" as well.

With the advancement of technology in the hospitality sector, much has been adopted to fit the new environment. And as technology aid, the interactive sense of technology across hospitality, some of the major trends that have begun to manifest are shaping the industry and the sector. Technology modified the advancement of utilities and different facilities to transition from electronic to digital in the 21st century. And thus, evoking the need for keyless entry. Hotels with integrated technology can allow guests to access their rooms through smartphones, kiosks, and sometimes plastic cards as keys. The initialization of voice command services such as Amazon's Alexa has been brought to offer a comforting experience as guests can interact and request reservations through Alexa. Robots have been used to adjust the scenes and operations of smart hotels. Thus, every facility within the environment becomes accessible in a digital way. This is also supported by advanced security and digital amenities, which offer numerous growth opportunities.

Technology and Event Management

As the hospitality industry embraces the need to optimize performance with technology, it, therefore, assigns technology a significant role in its productivity. The article thus engages an appeal of how technology is monetized to aid the success of next-generation hotel sales and event management software. With the alteration of the market to fit and adopt the use of technology, it increases its chances of seizing opportunities to aid in the determination of space utilization, to better capitalize on the in-demand spaces that are available. The suitability of having to compare multiple venues, for cost and suitability aligns with the nature of overcoming the shortcomings of the market. Thus, the article is rudimental in highlighting such cases.

this article goes over the ExhibitForce technology features offered to event planners and the award they won for best technology. ExhibitForce is another example of the Cloud-based trend. they streamline event planning services together to make a more effective workflow. their services are available 24/7 and have a wide reach worldwide!

today i want to introduce the event2mobile. it is an industry-leading platform that allows event managers to give attendees a clear understanding, acquire the events information and participate the events through their mobile devices. event2mobile is used by global media groups as well as private events of Fortune 2000 companies across APAC, Europe and North America. people can install this app in their mobile phone. they can create a account and update your personal information in the app. you can invite other friends in this app like facebook. also you can comment the events and give some advises through the app. moreover this app can support the events survey after you attend the events and you can evaluate the events. also, the app provide the location of events and events details. finally, this app can make the guests enter the events more easily.

Event planning is the process of managing a project such as meeting, convention, trade-show, ceremony, etc,.This includes budgeting, establish timelines, food and beverage, developing theme, etc, which is time consuming. Thus, it is important to invest in a technology that support your day to day operations.Investing in a technology as great benefits such as it will save time when using an event management software it automatically records and tabulates data. It also keeps a track of your guests and help to eliminate human errors. A customer relationship management (CRM)platform can be use to keep notes on the guests attending the event. Overall it makes your job more fun. The article focus on the technology trend in event planning such as measuring engagement, facial recognition, viral reality and crowd screening,

I've known about this software since it won the Hotel Tech Report awards for the best Property Management System (PMS) of this year. Worth reading, this page explains all of its functionalities and the benefits that a software like this can offer to hoteliers. It's a great platform to investigate and discover where the present and future of hospitality are going.