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galca008

What Are the Accounting Procedures in the Hospitality Industry? | Your Business - 0 views

yourbusiness.azcentral.com/ospitality-industry-28447.html

Accounting Hospitality

shared by galca008 on 27 Feb 18 - No Cached
  • Many of the accounting procedures used by hospitality companies are the same as those applicable to businesses in other industries. Methods for recording cash, receivables and deferred tax assets are similar while industry-specific transactions require special treatment. For guidance, accountants within the industry reference generally accepted accounting principles.
  • Retention periods for important records such as source documents, journal entries and reconciliations are prescribed by GAAP. Auditors must have access to evidence that supports management’s assertions in financial statements, and failure to comply with retention provisions can lead to various negative outcomes.
  • Data security is also a relevant concern, and tax returns, financial schedules and forecasts require safeguarding to prevent unauthorized access.
  • ...6 more annotations...
  • Management must maintain effective internal control over financial reporting to protect owners and other relevant stakeholders. A number of standards related to a company’s control activities are listed by GAAP, and auditors are charged with evaluating internal control on engagements with publicly traded clients. Because cash transactions are prevalent throughout the hospitality industry, segregation of duties is a critical part of efforts to prevent liquid assets from misappropriation
  • Not all cash inflows are recorded as revenue and some are actually carried as current liabilities on the balance sheet.
  • Staying at a hotel or buying a timeshare unit requires some form of upfront payment by consumers and a potential refund when criteria are met. Tips are sometimes aggregated by restaurants and similar establishments and then distributed to employees. Whether transactions are completed by cash, check or credit, hospitality companies must record revenue only when it is appropriate.
  • Vacation ownership interests, contract receivables and resort construction projects are among the line items that require special accounting treatment for timeshare companies.
  • Most timeshare companies sell their units or points via financing agreements, and accounting for mortgages requires a record of accrued interest, advance payments and other related events
  • Timeshare transactions are among the most complicated among all of the recordable events in the hospitality industry.
  • galca008 on 27 Feb 18
     
    This article outlines some of the procedures that are used in the Hospitality Industry accounting departments. Beginning with document retention, GAAP is followed to comply with how long the documents need to be kept. In keeping documents, data security needs to be in place to protect sensitive information. Internal controls are also important and follow GAAP, so that stakeholders and owners are protected. The procedure is so that the proper allocation of assets are maintained. Revenue recognition is also part of accounting procedures, as revenues may be sorted in various ways as appropriate. Lastly, timeshare accounting being one of the most complicated, due to the different agreements. I found this article to be a good guide in knowing the basic procedures that are followed in hospitality accounting.
yuliannab

What is clean technology (clean tech)? - Definition from WhatIs.com - 1 views

whatis.techtarget.com/...clean-technology-clean-tech

shared by yuliannab on 08 Feb 17 - No Cached
  • Clean technology (clean tech) is a general term used to describe products, processes or services that reduce waste and require as few non-renewable resources as possible. The Clean Technology Trade Alliance, a global initiative to drive the expansion of clean tech, defines it as: A broad base of processes, practices and tools, in any industry that supports a sustainable business approach, including but not limited to: pollution control, resource reduction and management, end of life strategy, waste reduction, energy efficiency, carbon mitigation and profitability. The term "clean tech" is often credited to Ron Pernick and Clint Wilder, who wrote a book called “The Clean Revolution: The Next Big Growth and Investment Opportunity.” In the book, the authors identify several main drivers of clean technology:  the current cost of conventional technology the capital being invested in research and development by large corporations a competitive global marketplace a change in consumer attitude which has brought environmental concerns into the mainstream the growing middle-class in China, which is forcing the Chinese government to invest heavily in alternative energy resources. 
    • yuliannab
      yuliannab on 08 Feb 17
       
      There is very little information on even clean technology, but this is the closest that I have seen so far. This article (well, really trying to sell a book) is about global initiative to have clean technology.
kimmumford

The Role of Global Competer Reservation Systems in the Travel Industry Today and in the... - 0 views

GDS CRS

shared by kimmumford on 15 Jan 18 - No Cached
  • the best known global CRSs are AMADEUS, GALILEO, SABRE, and WORLDSPAN with AMADEUS being the only one which is largely owned by European airlines. Together with GALILEO, it is the leading system in the European market. GALILEO, however, also has a strong position in the US market after it merged with an American system. SABRE and WORLDSPAN have been developed in the US. So far, SABRE is the only CRS which is wholly owned by one single airline.
    • kimmumford
      kimmumford on 15 Jan 18
       
      Global CRS's
  • CRSs are systems for purely (information transfer) logistical functions
    • kimmumford
      kimmumford on 15 Jan 18
       
      CRS definition
  • he network of the global CRS AMADEUS has additional 14 network nodes distribers who thus have the latest information about availability at any point in time and can use it as a basis for a new offer. In addition, the system can also store customer related information such as e.g. all services provided to a certain customer, type of payment, service information etc. ♦ Fare Quote & Ticketing: Just like the product presentation, the fare quote, ticketing and voucher generating process depend on the type and the complexity of the services offered. For flights, multiple fares are being offered which differ according to the reservation category, the date of the journey, the day when the reservation was made, the route and the length of the stay. That means that practically each fare needs to be calculated individually. In addition, fare quotes can change daily. The prices of other service providers, however, are relatively fixed so that in most cases, they stay an unchanged part of the offer. For the ticketing, travel agencies receive a fixed number of ticket forms which may only be used after confirmation has been availability of particular reservation categories and possibly the fare. It may, however, be difficult to describe the products of other service providers appropriately with only a limited amount of information. Hotels, for example, have so far only been able to provide information about the price, the size of the bed and its approximate location which alone is not a meaningful description for potential customers. For this reason, it is intended to link the particular offers to visual multimedia technology to be able to provide more detailed information to the customer. ♦ Reservation: The core function of reservation systems and the main reason for developing them is the reservation of offered services in the travel industry. To this end, a so called Passenger Name Record (PNR) or Guest Name Record (GNR) is created for each passenger or each group of passengers. These records contain all services-related customer information. At the same time, this information is transferred to the internal inventory system of all service providFigure 2 Principel structure of CRSs N N P pr S Fare Quote and T Hotel- or Car-Systems Travel Agencies Tourism Tourism Tourism Tourism Stickynote
    • kimmumford
      kimmumford on 15 Jan 18
       
      AMADEUS network modes and criticism of CRS
  • ...5 more annotations...
  • The development of such systems was already started at the beginning of the sixties, the objective being at the time to automate seat reservations procedures of airlines. Today, the largest civil data centers and the most powerful communications networks are being used exclusively for this purpose.
    • kimmumford
      kimmumford on 15 Jan 18
       
      Began for one purpose which is now expanded.
  • Today, the user has direct access to essential travel information and can find further information in all CRSs about trade shows, visa regulations, particular events etc. Furthermore, programs and interfaces have been developed which facilitate the internal administration for each travel agent. Also invoicing, accounting, customer and quota management increasingly depend on the respective CRS. User prompting has significantly improved so that even inexperienced users can easily learn how to work with the reservation procedure. Since more and more PCs are being used in this area modern user interfaces have been introduced.
    • kimmumford
      kimmumford on 15 Jan 18
       
      Additional access for the CRS
  • Another weak point in the CRSs have always been additional functions since such functions would not increase the number of sold flight tickets. O
    • kimmumford
      kimmumford on 15 Jan 18
       
      Weak point
  • There are two approaches which can help to reduce distribution costs. On the one hand, the on-line services provide additional possibilities of cost-effective direct distribution to the end customer. Many airlines now offer access to their internal service provider systems via on-line services and in particular via Internet. This also helps reducing costs incurred by travel agents and fees to the CRSs. O
    • kimmumford
      kimmumford on 15 Jan 18
       
      two approaches to cost reduction
  • he so called “no frill carriers”, one of them being Southwest Airlines, have taken this one step further. In all areas, they avoid unnecessary costs (service, change of bookings, meals, etc.) and merely offer basic services, i.e. to transport a passenger from A to B at the best possible price.
    • kimmumford
      kimmumford on 15 Jan 18
       
      Offer basic services
  • kimmumford on 15 Jan 18
     
    This article discusses the role of CRS and GDS in the travel industry. The author discusses the well known systems used. The authors further discuss the advantages and disadvantages of using these systems and ways to reduce the costs. These systems were believed to be entering extinction; however, there are still uses in the industry.
mkim001

Marketing Hotels Through Social Media Influencers - LODGING - 0 views

lodgingmagazine.com/rough-social-media-influencers

shared by mkim001 on 10 Jun 18 - No Cached
  • mkim001 on 10 Jun 18
     
    There are various forms of e-marketing, and this particular article zooms into the principle of e-marketing through social media influencers, or in other words, social media celebrities. Social media celebrities have a significant amount of followers and dictate what is good, negative, fun, popular, or high quality in different segments- food, places to go, accessories, brands, and etc. They have the power to engage their audience and influence favoritism through their postings. These people often have a large number of followers and provide audiences with an insight of their private and social lifestyle. This article highlights the importance of capturing social media influencers because it can be a great way to market the property. According to this article, traditional form of advertising, or marketing, is no longer becoming as effective. Social media influencers have far more power than businesses believe. It is important, before a business dives in to capture a social media influencers interest, to dictate whether or not the influencers' number of followers are "real" and not "bought." Usually influencers will have a number over 50,000 followers, and a micro-influencer will have an average between 1,000 and 50,000 followers. The key to distinguish if these followers are "real" is through active engagement from the audience. The ultimate goal of a hotel is to have influencers visit their property, utilize their services, take beautiful pictures and add positive and descriptive captions, geotag location of the business, and finally, tag the hotel they are visiting. It should enable followers to easily click on the link or look up the property, so they too, can experience what their influencer has experienced. It is important that both parties adhere to the standards conformed by the Federal Trade Commission (FTC). It is an absolute must for influencers to include in their post that they are being compensated for sharing the experience.
corrie242

Six Technology Trends Revolutionising The Hospitality Industry | By Calum McIndoe - Hos... - 4 views

www.hospitalitynet.org/...4060662.html

shared by corrie242 on 28 Aug 19 - No Cached
  • At Infor, I would estimate around 85% of the queries we see from hospitality companies and hotels include a serious look at cloud computing. Two main factors are behind this. Firstly, upfront investment is lower with the cloud as there are no initial hardware costs or associated expenses such as full time, in-house IT staff to maintain the system
  • Hunley Hotel & Golf Club has moved its hotel management system to the cloud as it reduces the administrative and IT burden of hosting and maintaining the application on site and offers lower upfront capital expenditure and an easier way to get regular upgrades to the application to ensure it is always up-to-date.
  • This enables hotel team members to 'meet and greet' their guests at any location, improving the personalisation of the check-in experience and reducing the costs associated with static reception desks and all their technology at each location. These benefits are not reserved for just large international chains: the low capital expenditure investment for mobile hardware and much reduced software costs mean that mobile is a viable option for small independent properties, looking to develop customer service as a competitive edge.
  • ...5 more annotations...
  • The online reputation of a property is business critical. It does not however, stand alone as a marketing department concern, but relates directly to daily operations.
  • As such, social media monitoring MUST be interfaced with the hotel management systems so that swift, appropriate action can be taken.
  • Customers expect their experience within a hotel to be totally personalised to them: from the welcome message on the television screen and food preferences to additional services such as personal training or flowers in the room.
  • Integrating these systems can provide more comprehensive management information, faster reporting and a truly comprehensive view of profitability. In the case of Hunley, integrating the hotel management system with the restaurant point of sale application (Squirrel) means that the hotel has a comprehensive view of revenue per guest or event. The hotel can also pull together truly holistic reports for management information and customer communication.
  • companies will need to adopt different management approaches to survive and develop amidst high levels of economic uncertainty. As international trade and business expand, there is no question that international links will become more important for the hotel industry. This means that the technology systems in use - especially those in large chains - must account for the global perspective.
  • corrie242 on 28 Aug 19
     
    Current hospitality trends within the hospitality industry. These current trends are bringing awareness to cloud base storage, application mobility, social media marketing, and integration of amenity software. Companies are now outsourcing its IT department to minimize operating expense.
  • kakaboshi on 31 Aug 19
     
    @corrie242 these six trends discussed are very important to keep efficiencies and competitive advantage, and I can confirm that at the Hotel company I work for, most of these are all in use. The social media use and monitoring has been a big shift in how we have changed the way we capture our guests' sentiment from comment cards being left or mailed to the hotel, to being able to receive immediate feedback in a very public way such as through Tripadvisor, Open Table, Facebook, Twitter, etc. We employ a digital media manager who assists in monitoring all that is said about us through these different channels so we can respond and try to stay on top of what is being commented.
  • anonymous on 01 Sep 19
     
    This article was a very interesting read and focuses on the savings and improvements that technology can deliver by outlining six trends. The main item that peaked my interest was the trend of Cloud / Software as a Service (SaaS) or cloud computing. I have been introduced to this concept over recent discussions with a close family member. Like the article noted, the argument that was given by my relative in support of this system was that this concept is the new way to go in information technology. This option is very cost efficient and like the article mentioned it has no initial hardware costs or associated expenses like full time, in-house IT staff to maintain the system. It can also allow management of your network system to be done offsite giving hospitality operators the time to service their guests more efficiently and effectively. With technology constantly changing it is very important for hospitality operators to be aware of the emerging trends in the industry. These trends can aid in considerable growth and improvements that can be beneficial to their businesses.
angelicamm6

https://www.econstor.eu/bitstream/10419/176337/1/Economics_2018-14.pdf - 0 views

www.econstor.eu/...Economics_2018-14.pdf

technology hospitality hotel software business economics green

shared by angelicamm6 on 25 Sep 19 - No Cached
    • angelicamm6
      angelicamm6 on 25 Sep 19
       
      (1) "any product, process or service designed with the primary purpose of contributing to remediating or preventing any type of environmental damage"; and (2) any "product, process or service that is less polluting or more resource-efficient than equivalent normal products that furnish a similar utility."
    • angelicamm6
      angelicamm6 on 25 Sep 19
       
      One major long-standing hurdle for SMEs has been the lack of appropriate forms of finance, with the severity of financing constraints varying across countries and sectors.
    • angelicamm6
      angelicamm6 on 25 Sep 19
       
      First, G20 countries must unlock the finance needed to enable the attainment of both Sustainable Development Goals and Paris Agreement commitments. This will require the scale-up of new low-carbon technologies, including promising zero-emission options (i.e., green and blue hydrogen, which offer lower costs and higher performance for sustainable infrastructure projects) as well as carbon capture sequestration and use (CCUS).
  • ...4 more annotations...
    • angelicamm6
      angelicamm6 on 25 Sep 19
       
      Economics: The Open-Access, Open-Assessment E-Journal 11 (2018-14) Global Solutions Papers
    • angelicamm6
      angelicamm6 on 25 Sep 19
       
      To this end, the G20 countries should:
    • angelicamm6
      angelicamm6 on 25 Sep 19
       
      Governments and intergovernmental bodies can play a crucial role in mobilizing private capital by levaraging public funds and support to signal innovative, low-carbon SMEs to private investors.
    • angelicamm6
      angelicamm6 on 25 Sep 19
       
      Indeed, to the success of the recommendations will depend on the harmonization of such policies across G20 countries. Such much needed harmonization will not only be beneficial for the G20, but will also promote scale-up and technology diffusion to Asia, Africa and Latin America - not as policy but as a result of investment. To this end, the G20 will need to promote regional, cross-country regulatory packages for investment (Medhora 2016), as well as realign trade and FDI policies towards supporting low-carbon products and processes.
lvela051

Shaping the Events Industry - THISDAYLIVE - 1 views

www.thisdaylive.com/...shaping-the-events-industry

event management Hospitality

shared by lvela051 on 18 Jul 18 - No Cached
  • An industry that contributes conservatively over N100billion to the Gross Domestic Product (GDP) of Nigeria annually and potentially has about N1trillion in turnover clearly needs to regulate itself.
  • This prompted the convener of Events Market Nigeria (EMN), Temitope Amodu, to bring all the players together such as wedding vendors, stakeholders, entrepreneurs, make-up artistes, DJs and event market enthusiasts among others who gathered for a day of networking, mentoring and discussions on pertinent issues about Nigeria’s ever growing event industry.
  • The 10th edition of the Event Market Nigeria Meet and Greet was the largest free gathering of participants in the event industry in recent times,
    • lvela051
      lvela051 on 18 Jul 18
       
      Have a free gathering of over 700 attendees.
  • ...16 more annotations...
  • He noted that since people love events and have fun, they look for any excuse to throw a party (it is the only thing that can make people sane in a recession or in a volatile emerging market). Thus, it is a no-brainer to set up a business or be involved in any trade or activity that cashes in on this idiosyncrasy.
  • to share industry related insights and emphasised the importance of collaboration as the new completion within the event cycle.
    • lvela051
      lvela051 on 18 Jul 18
       
      Collaboration is needed to create a successful event.
  • said a country that has a population for almost 200 million people and a reputation for an ostentatious culture, it is a no-brainer that the events industry is a rough diamond
    • lvela051
      lvela051 on 18 Jul 18
       
      None seem interested in such a profitable industry with potential.
  • The recent growth in the events industry has contributed to the spontaneous growth in many business verticals e.g. event planning, venue, photography, food and many more services along this massive value chain.
    • lvela051
      lvela051 on 18 Jul 18
       
      All contributors in the success.
  • the hospitality industry has been a source of optimal returns for investors.
    • lvela051
      lvela051 on 18 Jul 18
       
      event management being a part of that industry.
  • The events industry has grown at an average pace of 6.2 per cent each year globally since 2003.
  • The goal is to create an ecosystem that allows growth and development to take place, one that identifies, creates and drives excellence within the youths and veterans of the event industry.
    • lvela051
      lvela051 on 18 Jul 18
       
      Main goal within the event industry.
  • Nigerian company or middle-class family spends over 15,000 dollars per event.
  • 7 million dollars was spent on parties in Lagos over a five months period in 2013.
  • It involves studying the brand, identifying the target audience, devising the event concept, planning the logistics and coordinating the technical aspects before actually launching the event.
    • lvela051
      lvela051 on 18 Jul 18
       
      Event Management:
  • Basically, there are two types of events, namely; corporate and social events.
    • lvela051
      lvela051 on 18 Jul 18
       
      Its important to determine which events are mostly going to be catered too.
  • It is not a very organised industry; particularly because there is no specific legislation regulating this sector of the economy.
  • A common complaint from customers/clients of the industry is the issue of liability.
  • when disputes arise between a professional in the events industry and a client, there are no regulations on the applicable dispute resolution mechanisms
  • the industry is too fragmented.
  • Protect your business via written contracts, create a proper corporate structure for your business, adhere to the simple principles of corporate governance (e.g. have a board of directors or advisors etc), retain a good audit and tax firm to examine your books annually and make your business tax efficient, retain a legal partner to mitigate your legal risks. Run a business and not a hobby!”
    • lvela051
      lvela051 on 18 Jul 18
       
      Important to Protect the business legally.
  • lvela051 on 18 Jul 18
     
    The focus of the article is to highlight how the event industry is becoming more popular among the hospitality industry in Nigeria. It mentions the Events Market Nigeria (EMN) group aims to provide a places that allows for growth and development within the event industry with the newcomers and experienced event planners. The event that was hosted by the EMN, provides free gathering that offer different speakers to offer advice and their experience to those attendees willing to listen. Throughout the article, it states that the country of Nigeria has a population of "almost $200 million people and a reputation for an ostentatious culture", which makes it a perfect place to invest in the event industry. Especially due to the fact that the industry is a source of a more favorable return on investment even though other sources in Nigeria are considered more attractive. What makes the event industry profitable, is the ability to venture with other businesses such as venues, catering, event planning and more. But with all the good, the article does point out the issues such as liability and the lack of rules that are set for the industry. I think that it's an important topic to consider because hotels are implementing a source of revenue with renting out meeting spaces and catering services to outside companies. With more and more events being planned, I think it's a great business to venture in. The ability to have an events department within a hotel or even a restaurant gives the establishment to produce more revenue within other departments. Such as a hotel, the planning of a meeting not only brings in the revenue of the space being rented but also to Food and Beverage with the catering aspect and the front desk with the rooms being occupied by the clients and attendees.
salmanalabiooani

Hospitality Sector Teams Up Online to Help During the Crisis - Skift - 0 views

skift.com/...line-to-help-during-the-crisis

hospitality technology

shared by salmanalabiooani on 30 Mar 20 - No Cached
  • A new tech platform launched earlier this week can make the matchmaking process easier between lodging operators and local emergency efforts. Owners of a property can make beds or buildings available by using an online form to specify how they’re willing to help. Cloudbeds has worked with Sabre, Marriott, and RateGain and others on the effort.
  • A new reservations portal provides accommodation to healthcare workers at no cost in Lisbon and Porto, Portugal. It’s called Rooms Against Covid, and GuestCentric Systems and HiJiffy created it.
  • For other examples, see our recent story, “Some Asia Hotels Roll Out Quarantine Packages for Travelers Looking to Self-Isolate.”
  • ...3 more annotations...
  • Travel tech company RateGain has put together a “Better Tomorrow” resource page to help hoteliers with insights into lessons to learn from Asia.
  • The page draws partly on resources from the trade group Hospitality Sales & Marketing Association International (HSMAI), which has its own online resources, too.
  • Tech company Beekeeper has announced a webinar to help employers understand how to connect and communicate with their employees at a distance
  • salmanalabiooani on 30 Mar 20
     
    This article explains the way the hospitality industry is responding to the Corona virus crisis using digital and online capabilities. One obvious support that the industry is giving to the response efforts is by providing beds to respond to the emergency cases in the crisis like in the examples of Cloudbeds working with Sabre, Marriott, and RateGain and Hotels for Helpers, in the Netherlands which is offering discounted hotel rooms for those in need. The hospitality industry are also adapting to the crisis by finding online solutions for their employees to work from home and also providing wide range of resources on the crisis for users.
dominiquewalker

What Is Event Management? - 3 views

www.thebalancesmb.com/at-is-event-management-4067066

management event

shared by dominiquewalker on 20 Feb 20 - No Cached
  • Event Management Versus Event Planning While very closely related, event management and event planning are two very different functions. The key difference lies in these two words: management and planning. In straightforward terms, event managers manage the event and event planners plan the event.
  • Event managers and event planners work side by side, and their responsibilities may overlap.
  • Event Management Involves Project Management Event management involves creating and developing large-scale events which might inc
  • ...3 more annotations...
  • ude conferences, conventions, concerts, trade shows, festivals, and ceremonies.
  • Skills to Succeed As with most event planning functions, event management requires excellent organizational skills to succeed. The ability to multitask and juggle many moving parts is essential and, along with that top-notch organization comes the need for efficient time management skills.
  • project management is a key element and involves managing not only functions but teams of people, interpersonal skills are also important.
  • dominiquewalker on 20 Feb 20
     
    This article is short and to the point. Highlight what is event management. Also looking at common responsibilities, and the relation and differences between event management and planning.
  • ggara004 on 20 Feb 20
     
    Very interesting article! This goes into the roles of event planners and event managers. As some may think these are different, they also have some responsibilities that overlap. However they both work together to put on an event. The important skills for both and how one can succeed at the position.
  • msbode on 28 Feb 20
     
    I agree that this article was short and concise.
lavendersheshe

Hotel Maintenance Management | What is Hotel Maintenance? - 0 views

www.onupkeep.com/...hotel-maintenance

technology hospitality solution business hotel

shared by lavendersheshe on 09 Apr 20 - No Cached
  • Hotel maintenance is the upkeep of the various systems and components used in the hospitality industry. These systems include general building operations such as HVAC, electrical, and plumbing, but also many needs specific to hotels and their customers. These specific needs are widely varied and their scope depends on the size of the hotel and the services they offer.
  • On average, a hotel charges a little under $130 per night. If there is a significant problem in any of the rooms it rents, it means a loss of $130 each night that the room needs repairs. If the repair work requires multiple rooms to be shut down for a few days during a busy season, that amount quickly escalates
    • lavendersheshe
      lavendersheshe on 09 Apr 20
       
      Hotel maintenance is important because when issues arise then hotel guests won't be able to occupy the room which is affected and it will lead to loss of business.
  • AHLEI Maintenance Employee Certification: The American Hotel & Lodging Educational Institute (AHLEI) offers a certification for hotel maintenance employees as well as others involved in the hospitality industry.Certified Chief Engineer training: CCE training is offered by the National Association of Hotel & Lodging Engineers (NAHLE). The program is designed for hotel engineers and maintenance workers, and it trains candidates in management, operations, grounds, and building systems.
    • lavendersheshe
      lavendersheshe on 09 Apr 20
       
      When hiring a maintenance professionals e.g. Facility manager for your hospitality business you must make sure they have the right certification for the job. AHLEI & CCE training are examples of qualifications.
  • ...3 more annotations...
  • Maintenance technicians handle a wide range of responsibilities so they tend to be “jack-of-all-trades” type workers. Their tasks include regular scheduled maintenance as well as corrective maintenance performed on a hotel’s numerous systems.
  • Maintenance supervisors oversee the actions of maintenance technicians and may also help with regular maintenance tasks themselves.
  • Directors of maintenance handle high-level planning and hotel maintenance tasks, including working with supervisors, reporting to the hotel manager, and creating policies for their workers to follow.
  • lavendersheshe on 09 Apr 20
     
    This article defines hotel maintenance management and why it is important to it in place to maintain the physical hotel facility in order to achieve desired outcomes. Hotel maintenance management certifications and training that can help you put together an effective team for your properties preventive maintenance.
lavendersheshe

Hospitality Property Management Software Market Growing - 0 views

www.openpr.com/...gement-software-market-growing

technology hospitality solution green business

shared by lavendersheshe on 12 Feb 20 - No Cached
  • Hotel property management system (PMS) is known as a platform that enables the group or a particular hotel to manage front-office tasks, such as room assignment, guest check-in/check-out, booking reservations, managing billing, and room rates.
  • Production is analyzed with respect to different regions, types, and applications. Here, the price analysis of various Market key players is also covered.
  • Both, sales and revenue are studied for the different regions of the global market.
  • ...3 more annotations...
  • Apart from the information, trade and distribution analysis for the Market, contact information of major manufacturers, suppliers and key consumers are also given.
  • Based on deployment, the market is divided into: * On-Premise * CloudBased on hotel size, the market is divided into: * Small & Medium-scale, * Large ScaleBased on type, the market is divided into: * Hotel Operation Management System * Integrated Security System * Hotel Building Automation System * Guest Service Management System * Others
    • lavendersheshe
      lavendersheshe on 12 Feb 20
       
      These are the different criterias based on deployment, hotel size and type that you would choose which property management software is the most suitable for your hotel business.
  • To gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape. Assess the production processes, major issues, and solutions to mitigate the development risk. To understand the most affecting driving and restraining forces in the market and its impact in the global market. Learn about the market strategies that are being adopted by leading respective organizations. To understand the future outlook and prospects for the market. Besides the standard structure reports, we also provide custom research according to specific requirements.
    • lavendersheshe
      lavendersheshe on 12 Feb 20
       
      These are the key reasons for a large hospitality business like a hotel to purchase a property management software. It would provide the most accurate information and analyses of a large operation.
  • lavendersheshe on 12 Feb 20
     
    As the hospitality industry keeps expanding and the demand keeps accelerating from the increasing number of travelers. Businesses operating under this industry relatively also have the increasing need for maintaining efficiency and effectiveness of their operations. Major B2B software providers are now currently getting into this rapid growth wave to meet the needs of these businesses.
richardkutch

Industry Insight: How Tech Is Changing Event Planning for Businesses - Eventsforce - 0 views

www.eventsforce.com/...ging-event-planning-businesses

event planning technology

shared by richardkutch on 15 Oct 17 - No Cached
  • Smart technology is transforming the events industry, making planning easier and events more exciting
  • Organising an event is a logistical nightmare and one of the biggest developments is software to assist with tasks such as registration and email responses.
  • The second is around the collection and analysis of data.
  • ...12 more annotations...
  • Real-time feedback is also changing the industry.
  • Event speakers, for example, can now receive real-time feedback from audiences, which means they are able to change the way the session is going
  • Knowing exactly who turned up at your event and what sessions they attended is something every event planner wants to know. The information helps figure out popular topics and sessions. It also helps profile attendees.
  • Another application of real-time technology tools are on-site apps
  • is a hugely exciting development.
  • Data capture tools – from event registration systems and RFID to online surveys and event apps – are helping organisations collect valuable information on their attendees which can be analysed to create more powerful and customised event experiences.
  • Event personalisation
  • ou can use the data in the system to collate a report on all the delegates attending a particular session at an event.
  • You may share this list with all the other delegates attending that session to facilitate networking opportunities that are relevant to them.
  • You can break it down by company type, interests and goals and share the list with your session speaker.
  • Looking to the future, Sirius is excited about the impact of drones on events.
  • “It’s going to be interesting to see how they will get used at events. Think about having the ability to track where people move in an exhibition area or trade show.  Or having the ability to broadcast live all the things happening on the show floor. It’s very exciting.”
  • richardkutch on 15 Oct 17
     
    Technology is changing the overall event management experience making events more productive and fun. This article touches on things like advances in event organizing software, real-time feedback for speakers and data collection of attendees that can lead to personalizing activities throughout the event. I think most professional public speakers would say they already get real-time feedback from their audiences; no technology required. But for more novice speakers, that type of feedback would not only improve their session, but also help them hone their speaking and delivery skills more quickly allowing them to become better speakers faster. Personalizing an event to each attendee sounds pretty cool. Read the section about using the data collected during the registration process. It's interesting to think the data could be cross-referenced to bring delegates together for networking opportunities. Making important business contacts is a key reason people attend events.
ahart054

How Technology Can Help Keep Your Event Safe | TSNN Trade Show News - 1 views

www.tsnn.com/...-can-help-keep-your-event-safe

technology event

shared by ahart054 on 15 May 21 - No Cached
  • Mobile, web-based technology allows event organizers to easily meet government mandates requiring them to obtain registrant health information.
  • event organizers can use new technology solutions to add features that track vaccinations or negative COVID-19 tests conducted within a certain time frame before they arrive onsite to the event.
  • Event organizers can receive daily reports to ensure their health objectives are being met.
  • ...2 more annotations...
  • By incorporating technology and multiple mitigation factors into the overall event health and safety plan, the events industry can help limit exposure and reduce major outbreaks.
  • More technology solutions are being developed every day which will only improve our ability to create the safest environments possible for all of our participants.
  • ahart054 on 15 May 21
     
    As we see more and more venues reopening for in-person events with COVID-19 restrictions being lifted, technology is helping to guide the way to ensure a safe event for guests. Technology firms have developed tools that feature contact tracing, COVID-19 vaccination test results tracking, health surveys, etc. With this technology, there are many reporting tools as well that include making sure their health objectives are being met and contacting those who may have been exposed.
anonymous

Why Proximity Marketing Failed and How it Can Succeed in 2019 - 0 views

www.facefirst.com/...-failed-and-how-it-can-succeed

proximity marketing

shared by anonymous on 07 Oct 19 - No Cached
  • According to Boston Retail Partners, just 13% of retailers can identify customers as they enter a store, with another 10% identifying customers at checkout. In comparison, 60% of retailers identify customers during online shopping.
  • One of the biggest reasons for this is that beacon technologies have required customers to have bluetooth turned on. Beacon programs also often require customers to have download the right app and have that app turned on
  • A survey conducted by Borrell and Associates discovered that just 25% of retailers think beacons have a greater-than-50 percent chance of driving sales in stores.
  • ...7 more annotations...
  • The truth is that beacon programs routinely fail to offer customers requisite value.
  • According to research, consumers change phones often, every 2-3 years. When customers change phones they also change their MAC addresses. When this happens, retailers instantly lose insight into that individual’s historical behavior.
  • According to econsultancy, only 4 percent of consumers have ever downloaded a luxury retail shopping app. And even consumers who do download retail apps only spend 5% of their time using shopping apps. In truth, a proximity marketing strategy based heavily on an app can present some serious friction. As a result, 44% of retailers have removed their apps from the app store since 2015 and 56% fail to regularly update that app.
  • Though there have been historic limitations, proximity marketing is not going away it’s merely evolving
  • [retailers] will embrace neural networks and machine learning devices to get more connected. Analysts will use customer … traffic and behavior data to create experiential shopping destinations.”
  • Using AI-powered face recognition enables retailers to instantly recognize when individuals enter a store. While consumers change their phones regularly, they don’t change their faces
  • Facial recognition can also remove friction across the buying journey by offering the ability to seamlessly pay by face, verify age, or participate in loyalty program
  • anonymous on 07 Oct 19
     
    Consumers change phones often which in turn changes their MAC addresses. Retailers then lose all the the consumers behavior. Most consumers also rarely download retail applications.Although proximity marketing has had its limitations, it has continued to evolve which means that it will be present in the future.
anonymous

Virtua Hospitality debuts online event platform | Hotel Management - 0 views

www.hotelmanagement.net/...-hospitality-debuts-ugovirtual

event online

shared by anonymous on 14 Oct 19 - No Cached
  • Virtua Hospitality launched UgoVirtual, an online platform designed to meet the virtual travel and event management/hosting needs of the global travel and hospitality sectors
  • UgoVirtual platform allows event organizers and meeting planners to virtualize a variety of even
  • , such as industry trade shows, corporate meetings and conferences
  • ...3 more annotations...
  • The flexible and highly configurable UgoVirtual platform can be used to host a standalone online event or alternatively, to augment an on-site event by creating a virtual version of it for remote attendance, participation and learning.
  • Virtual events are the future of our industry since they can be used to expand both the attendance and reach of on-site conferences and meetings. With the advancement of digitization, virtual concepts are poised to become the new reality for the hospitality and travel sector.”
  • Registered attendees can access the event via any internet-enabled desktop, tablet or device to visit various locations and participate in a range of activities, such as live keynotes and breakouts, on-demand sessions, 1:1 chat, social networking, peer collaboration and much more
  • anonymous on 14 Oct 19
     
    Virtua Hospitality launched UgoVirtual, an online platform which allows event organizer to virtualize many events. Registered attendees can access events via several devices and participate in many activities. As mentioned by Mike Blake, Virtual events is said to be the future of the industry.
jnoll001

Hotels are right to be obsessed with direct bookings - 4 views

diigo.com/0eo6d2

technology hospitality hotel software tech travel

shared by jnoll001 on 23 May 19 - No Cached
  • jnoll001 on 23 May 19
     
    Excellent article touching on this weeks topic of GDS.
  • hchiebooth on 23 May 19
     
    This article was very interesting. Hotels have implemented tricks of the trade to redirect people to book directly. For example, Marriott will not extend the Marriott Rewards to guests who book through third party sites like Expedia, Priceline, etc. The only way to receive Marriott Rewards points is to book directly. Hotels have to provide incentive for booking directly just to stay competitive.
  • tgood006 on 24 May 19
     
    Good Afternoon, This article is very important in the last few months Marriott has developed many programs to get guest to book directly with them. Marriott does extend points to guest who book with OTA like Expedia but they only receive a portion of their points, if they wanna receive all their points they are recommended to book directly with Marriott. Marriott also invested heavily in a travel segment to compete with Airbnb, it called Marriott Home and Villas. check out the link below. https://homes-and-villas.marriott.com/
abroo041

Proximity Marketing | What is Proximity Marketing? - 0 views

www.marketing-schools.org/...proximity-marketing.html

shared by abroo041 on 16 Jun 20 - No Cached
    • abroo041
      abroo041 on 16 Jun 20
       
      This website discusses what proximity marketing is, who uses it, the target market, and how a proximity marketing plan is created and implemented. Proximity marketing is the use of cellular technology to market to mobile device users within a certain radius of a business. Almost every business uses proximity marketing in different ways. A restaurant might use it to advertise a new promotional meal, while an airport may use it to provide maps and promote their destination to tourists. The target market is anyone with a mobile device. Knowing your goal of marketing is the first step in creating a proximity marketing plan. Understanding the quick nature of these marketing advertisements and tailoring them to provide the most essential information and attract the viewer, all within a short message, is also important to successful marketing.
  • With mobile devices becoming a staple of modern society and the preferred way of accessing digital content, today’s successful marketing professionals will need to understand how to connect successfully with mobile consumers.
  • Proximity marketing helps companies and service agencies do just that
  • ...12 more annotations...
  • Proximity marketing—also sometimes called hyperlocal marketing—uses cellular technology to send marketing messages to mobile-device users who are in close proximity to a business.
  • While the audience is limited to those in the proximity of the business and those using its Wi-fi or Bluetooth signal, the message is very user friendly and reaches those most likely to visit a store. Who employs Proximity Marketing?
  • Major retailers, such as Ikea or Macy’s, can send store maps and coupons or offers to apply for their credit card or to enroll in their loyalty or rewards programs. Hotels can inform guests about on-site events and promotions or can offer to enroll them in loyalty or rewards programs. Restaurants can send special menus/daily specials, coupons, offers for loyalty programs, or perhaps send trivia questions or other games to help them pass the time while they wait for their table to be ready. Shopping malls can offer a proximity marketing benefit to their tenants by putting together a package of coupons or offer a discount at any mall retailer. Travel hubs such as airports and public transportation centers can provide maps or display ads that can be sold to local tourist destinations. General information about a product or service can be delivered through proximity marketing even if the fixed location of the business or service agency changes
  • This makes just about every consumer with a smart phone potentially susceptible to a proximity marketing campaign, particularly younger, tech-savvy shoppers who are more likely to own smartphone and use them while shopping.
  • Locations such as shopping malls, large retail outlets, and trade shows, where consumers are generally planning to spend at least an hour or two, are prime areas for a proximity marketing campaign.
  • One of the key benefits of proximity marketing is that its messages reach a high percentage of potential customers who are in the area.
  • The main purpose of the proximity marketing plan is to connect with customers while they are near your business or service and spur them into action
  • In the case of mobile messaging, it’s important to consider adding an opt-in component to your campaign.
  • More and more, customers value control over the messages they receive and desire privacy from unwanted solicitations
  • Mobile devices are made for short messages and quick interaction, and there is intense competition for the attention and time of the mobile device user. Therefore, in developing a proximity marketing plan, messages must be sharpened and honed to be as clear, concise, and impactful as possible.
  • If the goal is to drive as much traffic as possible to the business and maximize sales that day, then an electronic coupon or special offer might be the best strategy. If the store has a high turnover rate, the goal may be to make a connection with customers by offering them incentives to return.
  • The digital and interactive nature of most proximity marketing campaigns provides the advantage of real-time data collection of response and success rates. If a message is failing to connect, it can be easily and quickly adjusted.
anonymous

Survey Shows US Cybersecurity Attacks Costing Orgs More Money - 0 views

healthitsecurity.com/...ttacks-costing-orgs-more-money

hospitality technology cybersecurity cyber security

shared by anonymous on 19 Jul 20 - No Cached
  • Survey Shows US Cybersecurity Attacks Costing Orgs More Money
  • Cybersecurity attacks are leading to estimated financial losses of an average of $884,000, according to an IDG survey.
  • "As organizations prepare for various attacks and breaches, hackers continue to be savvier in their approaches,”
  • ...6 more annotations...
  • “Resilient organizations must have all employees embrace security practices, from awareness training to behavior monitoring to gap protections."
  • Firewalls, spam filtering, network-based antivirus tools, access controls, and encryption were listed as the most effective solutions for detecting or deterring external threat factors.
  • The top three types of cybersecurity incidents also differ depending on whether it was an insider or outsider threat. The report found that outsider threats tend to consist of the following: Unauthorized access to/use of information, systems, or networks Customer records compromised or stolen Confidential records (trade secrets or intellectual property) compromised or stolen
  • The average cost of a data breach is $3.62 million globally, according to the 2017 Cost of a Data Breach Study: Global Overview sponsored by IBM Security and conducted by Ponemon Institute.
  • "Data breaches and the implications associated continue to be an unfortunate reality for today's businesses," Ponemon Institute Chairman and Founder Dr. Larry Ponemon said in a statement. "Year-over-year we see the tremendous cost burden that organizations face following a data breach.”
  • Cybersecurity incidents stemming from insider threats will include private or sensitive information being unintentionally exposed, customer records being compromised or stolen, and employee records being compromised or stolen.
shoss003

Speedy Check-In Lets Hotel Guests Bypass Front Desk - 1 views

www.nytimes.com/...-guests-bypass-front-desk.html

shared by shoss003 on 29 Aug 13 - No Cached
  • The hospitality industry is moving toward more automated check-in systems
  • “Customers are used to A.T.M.’s at the bank instead of tellers, checking in for airplane flights online, and they are now looking for that same efficiency when they arrive at a hotel,” Mr. Craig said. “No one wants to wait in line for the front desk anymore.”
  • an upset customer posting to Twitter, Facebook or TripAdvisor can easily share bad impressions with a wide group of people.
  • ...8 more annotations...
  • automated check-in was also a plus for hoteliers who wanted to assign additional duties to the front desk staff. “When a guest checks in late at night and the same employee can make sure the check-in goes smoothly and also sell them something to eat,” he said, “the hotel has saved money on staffing, increased its revenue and increased customer satisfaction.”
  • The different check-in methods are meant to provide options for guests, not to supplant any,
  • “Leisure guests here for shopping, dining and culture may want the opportunity to talk with our front desk associates to get some quick recommendations, versus a person here on business who may prefer to check in though the Web or self-check-in kiosk,
  • welcoming, like coming to a friend’s house
  • remove the physical barriers between the guests and the staff
  • hides the technology but uses it to prepare for and personalize each check-in.
  • orientation takes place at the same time as check-in
  • “There’s a lot of preplanning, technology and communications going on behind the scenes, but humans are the most important part of hospitality, so we keep the technology parts hidden
  • Ashlee Livingston on 29 Aug 13
     
    This article is giving the reader a look into the new check in procedures being implemented by hotels across the world. This "speedy check-in" allows for guests to by pass the traditional front desk check in and instead opt for check in via kiosks located in the lobby or even checking in before arrival. The automatic check in trend began as a way to relieve guests from having to wait in long lines when arriving at their hotel to check in . The option for speaking with front desk associates is still there but would rather serve as more of concierge, with suggestions on restaurants and questions regarding any leisure activities within the city or hotel itself. Some hotels are also taking the approach of personal greeters who approach the guest upon arrival, making the check in process more like a welcoming into a friends home. Overall I love the idea of being able to bypass hotel lines, especially during holidays when lines tend to get quite long or when arriving to a hotel fairly late in the night. Being able to arrive and head straight to the room allows for smoother check-ins and more efficient use of front desk associates. The personal greeters also provide more of an at home feeling. Guests can feel like they are personally being cared for as opposed to just being another occupied room. 
  • shoss003 on 02 Sep 14
     
    As we move into a technology focused society hotel needs to follow the trend of what travelers want and how to streamline using technology. This article describes how hotels are implimating kiosk in their lobbies to offer their guest a quick and easy way to check-in without having to make the line at the front desk. The hotels goal is to leave the "hotel embassador" and/or front desk for guests that have special requests or questions about their stay. They reference a hotel in Boston that has taken the electronic checkin a step further. They email the guests prior to arriving at the hotel two codes. The first code is to be used at the front door to enter the hotel, and the second code to enter into their hotel room keypad. They interviewed President and General Manager of NCR Corporation's travel business about these types of services. He stated that they offer travelers the same speed and quick services as ATM machines at banks or kiosks at the airport for quick checkin. He went on to say that they expect that type of service when traveling. Mr. Craig even touched on how a travelers feedback is even more important due to social media. One bad review can affect the hotel instantly after they tweet, post, etc. In the article they also interviewed Glenn Haussman, editor of the online trade magazine Hotel Interactive. He stated that with the use of the kiosk and express check-in the front desk staff can offer a more personal experience by doing other tasks. For example they mentioned a late check guest might want a snack or something to relax after a tough flight. By the staff not needing to check them in can go get the guest a coffee, or something to eat; this making the experience feeling more personal. The article states the Hyatt chain has implemented their kiosk in almost all their properties in major cities. They still offer a more traditional check-in as well. They went on to say some chains are using greeters with ipads to check guests in as they ente
xiaoyuzhang

ITS Education Asia Article - THE ADVANTAGES OF USING COMPUTERISED ACCOUNTING SOFTWARE - 1 views

www.itseducation.asia/...mputerised-accounting-software

computerized accounting software

shared by xiaoyuzhang on 14 Oct 20 - No Cached
  • A typical computerized accounting package will offer a number of different facilities.  These include:- On-screen input and printout of sales invoices - Automatic updating of customer accounts in the sales ledger - Recording of suppliers’ invoices - Automatic updating of suppliers' accounts in the purchases ledger Recording of bank receipts - Making payments to suppliers and for expenses - Automatic updating of the general ledger - Automatic adjustment of stock records - Integration of a business database with the accounting program - Automatic calculation of payroll and associated entries 
  • Computerized accounting programs can provide instant reports for management, for example:- Aged debtors’ summary – a summary of customer accounts showing overdue amounts - Trial balance, trading and profit and loss account and balance sheet - Stock valuation - Sales analysis - Budget analysis and variance analysis - GST/VAT returns - Payroll analysis 
  • the system will require staff to be trained to use new skills, which can make them feel more motivated.
  • xiaoyuzhang on 14 Oct 20
     
    This article shows us many advantages of using computerized accounting software. It is useful for managers to manage enterprises through instant reports which were provided by computerized accounting programs. And it also be helpful for financial manager to check the manager's work. The advantages of the computerized accounting software includes: speed, automatic document production, accuracy, up-to-date information, availability of information, management information, GST/VAT return, legibility, efficiency, staff motivation, cost savings, reduce frustration and the ability to deal in multiple currencies easily.
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