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Home/ Hospitality Technology/ Contents contributed and discussions participated by Ted Rood

Contents contributed and discussions participated by Ted Rood

Ted Rood

Hotel Lenders and Investors at Ease With Direction of Investment Market - MarketWatch - 0 views

  • Lower interest rates, revenues that are outpacing expense growth and below average supply additions are combining to give lenders and investors a greater comfort level with the U.S. lodging investment market,
  • "Double-digit profit growth, coupled with the low cost of capital and limited supply growth, make hotel real estate an attractive option to commercial real estate investors," said Scott Smith MAI, vice president in the Atlanta office of PKFC
  • "Institutional investors and private equity funds are showing a bias towards full-service and resort hotels in the major markets, where profit growth has been the greatest,"
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  • Survey results show that there currently is a significant gap between the price a buyer is willing to pay and what a seller is willing to accept.
  • Hospitality bankers and mortgage companies responding to the Hospitality Investment Survey reported that mortgage terms have remained virtually the same from 2011 to 2012.
  • The 2012 Hospitality Investment Survey also identified the increasing use of Small Business Association 504 loans, a program most frequently offered by local and regional banks to investors purchasing limited-service properties in secondary markets
  • Investments in the hospitality industry will continue to become more attractive due to the expected continued improvement in industry performance and the continued availability of cheap capital.
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    The article discusses how hotel lenders and investors have found success with the direction of the investment market. According to the 2012 edition of the Hospitality Investment Survey, lower interest rates along with revenues that are outpacing expense growth are combining to provide investors with a greater level of comfort in regards to the U.S. lodging investment market. According to Scott Smith, vice president of PKF Consulting USA, the double digit growth of profits along with low capital and limited supply growth has made hotel real estate much more attractive to commercial real estate investors. Smith notes that institutional investors as well as private equity funds are more inclined to invest in full service hotels existing in the major markets, which has shown the most profit growth.  According to the text, investments in the hospitality industry will continue to remain attractive to investors due to the expected continued improvement in industry performance along with the availability of cheap capital. 
Ted Rood

New Hotel Owners Who Relinquish Control to Management Companies Are Putting Decision-Ma... - 0 views

  • Lawrence Cohen, Executive Consultant and Hospitality Group Leader at Ne
  • w York-area accounting and consulting firm Marks Paneth & Shron LLP, has published a commentary examining the conflicts of interest and dangers hotel owners face when hiring a third-party management company.
  • hotel ownership requires strategic and operational decisions to be made in real time. As such, critical day-to-day decisions that can make or break a hotel's success are often not in the hands of ownership but rather within the purview of the third party management company.
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  • The hotel's management staff may not be loyal to the hotel itself but to their employer, the management company -- The owner-franchisor relationship can be a conflict of interest between cost-effectiveness and guest satisfaction -- Hotel owners can benefit by building a team that has relevant hospitality experience and is loyal to the owner
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    Lawrence Cohen, an Executive Consultant and Hospitality Group Leader recently examined the conflicts of interest that hotel owners face when hiring third party management companies. According to Cohen, owing a hotel requires both strategic and operational decisions to be made in real time. The problem occurs when real estate owners go from owning commercial property to owning hotels and are not used to making decisions on a daily basis. As a result, the most critical daily decisions that determine the success of the hotel do not fall into the hands of ownership but rather to a third party management company. These third party relationships may result in hotel management staff being loyal only to the management company rather than the hotel itself. Hotel owners could benefit by building a team with experience in the hospitality industry and hiring individuals loyal to the owner. 
Ted Rood

FTC Sues Wyndham Hotels Over Data Security Failures - Security - Privacy - Informationweek - 0 views

  • The Federal Trade Commission Tuesday announced that it had filed a suit against global hospitality company Wyndham Worldwide Corporation, as well as three of its subsidiaries
  • failing to institute a robust information security program, even in the wake of a major exploit.
  • exposure of over 600,000 credit card accounts and $10.6 million in fraudulent credit card charges, the FTC alleged.
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  • More Security Insights Webcasts Malware from B to Z: Inside the threat from Blackhole to ZeroAccess Remove Administrator Rights Without Disrupting End User Productivity More >>White Papers
  • Valentino said the company overhauled its information security practices in the wake of the attacks, and also dismissed claims that anyone had been harmed by the breaches. "At the time of these incidents, we made prompt efforts to notify the hotel customers whose information may have been compromised, and offered them credit monitoring services," he said. "To date, we have not received any indication that any hotel customer experienced a financial loss as a result of these attacks."
  • "unfair and deceptive
  • The FTC accused Wyndham of failing to address the security vulnerabilities highlighted by the first breach, as well as failing to implement technology that could have detected unauthorized access to its networks. As a result, the agency said, in March 2009 attackers--"using similar techniques as in the first breach"--again
  • gained access to the Wyndham Hotels and Resorts network.
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    This article describes one of the worst situations that could occur when operating a hotel. According to the text, Wyndham Hotel Group failed to implement a strong enough security system, resulting in hackers breaching the network and stealing over 600,000 credit card numbers and over 10 million dollars in fraudulent charges. The FTC is suing Wyndham Corporation for failing to take the proper security measures to guarantee the security of the most important customer information. The FTC also states that Wyndham used improper software configurations that presented credit card information in a manner that was clear and easy to read. Michael Valentino, spokesman for Wyndham Worldwide, the company made prompt efforts to notify those whose information had been compromised and according to Valentino, no hotel customer had experienced a financial loss as a result of the attacks.  Despite Valentino's claims, the FTC is suing Wyndham for unfair and deceptive practices in failing to protect the privacy and personally identifiable information about guests. The FTC claims that Wyndham failed to address the security failures that occurred after the first breach in 2008 and did not implement technology that could have detected unauthorized access to networks. In 2009, hackers used similar techniques to break into the network again as steal as much personal information as they could. 
Ted Rood

Mobility rewrites the rules for POS system services - 0 views

  • Mobile technology is rewriting the rules for point-of-sale system services. This is creating opportunities for solution providers with security, wireless and broad e-commerce skills.
  • Tablet computers have accelerated adoption of open system point-of-sale (POS) solutions that integrate multiple transaction methods, including mobile and traditional fixed in-store sales terminals as well as e-commerce sites
  • One motivation is generational: Entrepreneurs are opting for systems that can "follow" clients and support better tableside service
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  • opting for mobile computers that can run POS applications served up via an Internet connection
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    This article focuses on how Mobile technology is changing the way the hospitality industry is utilizing POS systems. Ever since the rise of tablet  computer usage, open system POS solutions that integrate multiple transaction methods have become increasingly more popular. Entrepreneurs in the hospitality industry are opting to go with systems that follow clients and offer better table-side service. Instead of using the traditional POS system terminals, business owners are going with a POS system that can be run on mobile computers through an internet connection.  Mobile POS solutions are becoming more and more popular in the restaurant and hospitality business. Retailers are delivering different mobile applications, such as personal shopping solutions as well as encouraging customers to use their mobile devices to receive promotions and other marketing incentives. In january 2012 it was reported that almost half of all tablet computers are being used for some kind of shopping transactions. 
Ted Rood

NAVIS Interface To Resort Data Processing, Inc. Property Management Software Enables On... - 0 views

  • NAVIS, the leader in reservation sales systems for the North American lodging industry,
  • The interface will enable NAVIS clients using RDP software to accurately measure how much online revenue and how much offline (telephone) revenue were generated from their online marketing.
  • “NAVIS is the only company in the lodging industry capable of providing this level of online/offline revenue detail to hotels, resorts and vacation rental management companies
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  • where to spend their marketing dollars and where not to.”
  • espective clients will be able to see a complete picture of their online and offline revenue – extremely valuable information that will help them to be more successful.”
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    When working in a hotel, the majority of the reservations that come in are done through online booking but what about the reservations made over the phone? Are they still booked as a result of online marketing efforts?  This article from Virtual Strategy Magazine is discusses a brand new data interface developed by NAVIS, the leader in reservation sales systems in North America. NAVIS teamed up with RDP (Resort Data Processing) to create an interface that allows clients to measure how much online and offline revenue is generated from online marketing. Currently, NAVIS is the only company able to offer this service to its clients. The ability of NAVIS to provide this information gives clients the opportunity to decide on where exactly there marketing money needs to be spent and where it needs to be spent less. Having access to all of this new data and information regarding source of revenue will ultimately make a company more successful in the future. 
Ted Rood

Hotels in India going green - Columns - livemint.com - 0 views

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    The article discusses the Green Mode and how human activities causing excessive fossil fuel emissions are forcing us to change the way we live and become more eco-friendly. This trend can be seen in the hospitality industry as more buildings are utilizing a green approach. These buildings offer sustainable features such as efficient use of water, energy efficiency, use of recycled materials and improved indoor conditions for better health and comfort. Companies using the green approach create value for occupants and increase property values by offering easier maintenance and lower operating costs. In India, The Indian Green Building Council (IGBC) have produced over 687 projects that have been registered under IGCB green building guidelines. These projects include hotels, hospitals and different factory buildings. Major companies adopting the green mode include Intercontinental Hotel Group, Starwood Hotels, Hyatt and Hilton. The hospitality Industry is beginning to take advantage of the benefits of going green. With energy costs escalating, reduced maintenance and energy saving is becoming increasingly more necessary. 
Ted Rood

Sceptre Hospitality Resources Names Thing5 LLC Preferred Provider of Call Center Servic... - 0 views

  • Sceptre Hospitality Resources, the hospitality industry's foremost top line revenue enhancement service provider, announced today their "voice services will be powered by Thing5 LLC", the leading provider of telecommunications and reservation services to the hospitality industry
  • They have a long track record of helping hospitality clients achieve consistent sales revenue growth.
  • "Thing5 is a managed telecommunications technology leader built on the strategy of offering comprehensive, Communication-as-a-Service (CaaS) and BPO Solutions for the Hospitality and Travel Industries"
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  • Sceptre's Call Center Services' combined offerings will allow clients access to innovative and flexible services. The services cover full Central Reservations Office support, augmentation of In-House staff with overflow and after-hours reservation call support, to PBX operator calls, Click-to-Chat/Call, Email, concierge and loyalty program services.
  • Sceptre Hospitality Resources maximizes revenues for hotels and resorts
  • the company now serves more than 4,000 properties on its reservation platform
  • include MotionNotes, a video messaging platform, SpaLinx, a spa management and appointment booking application, HotelIQ business intelligence, custom internet marketing services and revenue management services.
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    Sceptre Hospitality Resources, one of the hospitality industries leading revenue enhancement service providers recently announced that they will be using voice activated services powered by Thing5 LLC. Their switch over to Thing5 is largely due to the fact that this company has been one of the leading telecommunication providers in the industry. Sceptre is hoping that the quality service Thing5 offers will help them achieve consistant sales revenue growth. Thing5 offers a wide array of services including complete reservation office support, after hours reservation call support, as well as concierge and loyalty program services to guests.  I think that by utilizing the services Thing5 have to offer, Sceptre will continue to be one of the bigger revenue enhancement service providers in the industry. The many features of Thing5 voice activation systems will allow for a better customer service experience. Guests will have full access to reservation services  as well as in-house staff and will also be able to book at any time of day or night with after- hours reservation call support. 
Ted Rood

Maestro Launches the New Face of Hotel Operations; Mobilizes Staff with Xpress iPad Che... - 1 views

  • With the portability, large screen and long battery life of the iPad, it is suited very well for the round-the-clock hotel industry. The Maestro Xpress iPad solution
  • Personalized upsell and room-change capability with real-time availability access
  • Remote
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  • and room blocking
  • Xpress Check-In registers entire groups from meeting rooms and conference spaces Maestro
  • We worked with IJWS to create our iPad Xpress Check-In app that integrates with Maestro PMS to register guests in the lobby or curbside for the ultimate in personalized service and upsell capabilit
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    Maestro, a company specializing in property management and hotel software is launching a new face in property management productivity by introducing the Maestro Ipad Xpress App. With the popularity of tablet computers such as IPads and android platform tablets rising, Northwind has decided to launch a system through Maestro to make the check-in and check-out process in a hotel as simple and efficient as possible. Northwind ultimately hopes that the Xpress check-in app will not only be more efficient for guests but also optimize revenue and productivity in the hotel. The new app allows guests to complete the check-in and check-out process anywhere a wireless signal is available. Lets say for example, a large group of employees are attending an out of state conference and when they arrive at the hotel, there are over fifty of them that have to go through the check-in process. With the Xpress check-in app, these individuals could check in on their way to the hotel and by the time they get there they will save time and effort by not having to wait in line and go through the entire check in process one by one. For this reason the Maestro Xpress Check-In App is perfect for handling large groups of people arriving at the same time. The Xpress app creates a more personalized service for the customer making the entire check-in and check-out process much more convenient for the guest and productive for the hotel. 
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