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Krystal Jost

Four Hotel Companies Select Aptech Business Intelligence, Accounting and Budgeting Solutions - 0 views

www.hospitalitynet.org/...4053658.html

technology accounting budgeting intelligence hospitality solutions

shared by Krystal Jost on 02 Mar 12 - No Cached
  • Hotels across Country Implement Aptech Systems to Grow Portfolios, Assess Acquisition Profitability, and Simplify Back Office Operations
  • Aptech Computer Systems, Inc., the leading provider of hospitality software for business intelligence and enterprise financial accounting, today announced four new hotel companies have selected its hospitality solutions to improve their business intelligence, budgeting and forecasting, and accounting.
  • "The four new Aptech clients are a great example of how hotel companies are leveraging financial solutions to better manage their companies and increase profitability,"
  • Dhaval Khakhar on 02 Mar 12
     
    Aptech Computer Systems, Inc., the leading provider of hospitality software for business intelligence and enterprise financial accounting, announced about four new hotel companies who have selected their hospitality solutions to improve their business intelligence, budgeting and forecasting, and accounting. M&R Hospitality Management in New York and San Ysidro Ranch in Santa Barbara, CA, are among the companies implementing Aptech's financial solutions. Excuvue is a web based hospitality Business Intelligence application which gathers and coordinates data from different hotel systems, including the Smith Travel Research report. This system can convert written online ratings, comments, and the guest satisfaction ratings into metrics. This basically helps in optimizing the revenues as they can match up with the customer's idea and with their current daily performance and also with their competitors. It is very essential to bring about changes in the department where your competitor is excelling at. This sort of information can help them make quick changes for profitability and customer satisfaction. The interesting part is that companies are looking outside to leverage financial solutions in order to better manage their standards and keep up the pace. and many more hotel companies are implementing this to streamline their back office processes.
  • Krystal Jost on 07 Feb 13
     
    This article focuses on how hotel companies are implementing a new system that has been introduced to simplify financial accounting. Aptech Computer Systems claims to be a leading provider of such software, allowing companies to improve their budgeting, forecasting, and accounting. Many hotel companies utilize Quickbooks to effectively manage their budgeting and forecasting needs, along with their accounting needs, and as these companies grow, they need a better solution to effectively manage these aspects. Companies with multiple properties need a system that can manage data from all of their different sources, and combine them to strategically analyze their profits, revenues, and their losses, as well as to make budgeting decisions and forecasts. Execuvue, a web based business intelligence application created by Aptech, combines data from a large variety of hotel systems, such as STR data, which is extremely valuable in assessing where each hotel stands in its competitive set, and how much of its market share that it is currently obtaining. The system also provides insight to operators as to recommended actions for the hotel to take with the data that is collected. The system also measures online ratings, comment card details and other guest satisfaction measurements, enabling hotel operators to utilize guest satisfaction ratings along with their profit standpoints and their current financials. This system seems to be a valuable resource in today's economy, and with the evolving technology. It allows users to utilize data from all sorts of sources to make decisions and assessments. Any operator or manager knows that seeing data quickly and efficiently, where the answer is simply laid out in front of you so that you do not have to seek information from multiple sources and then compare it with the other sources, allows you to make informed decisions much more quickly and be much more assured with your choices. It also enables those operators to find ways to opt
avila031

Cloud hotel software Vs. Installed hotel software - SabeeApp Blog - 0 views

www.sabeeapp.com/...ud-hotel-software-vs-installed

technology software hotel cloud

shared by avila031 on 29 Sep 18 - No Cached
  • But a hotel management system can be effective only if it provides a wide scale of features. This ensures versatile services that can fit the wider range of customers.
  • they are often not affordable for small and mid-size properties with limited budgets.
  • e very common stereotype is that after the change to cloud-based software all data will be easily accessible by “bad people”. In other words, data won’t be secure. But hoteliers should not forget that such systems are working with well-secured servers and have necessary certificates to protect sensitive data.
  • ...1 more annotation...
  • For big hotels and hotel chains installed software might work perfectly as the business is pretty much going inside the hotel. But for smaller accommodation businesses mobility is value #1. Small hotel owners are managing everything by themselves. Therefore they need to have access to the system from any part of the world. During their holidays they must see if new reservation arrived or if they need to adjust the price. Apartment rentals most of the times don’t even have reception and has to follow up their reservations while being anywhere else. For such people and for such businesses cloud hotel software solutions are the key component for success. They can have professional technology that big hotel chains are using, just for more affordable price and better flexibility.
  • avila031 on 29 Sep 18
     
    This is an article that compares the new form of cloud property management systems versus the original installed in the property PMS. It compares the features missing from both ends such as the fact the installed PMS can not get free upgrades but it does not require IT expertise. The article makes a great point in stating that both systems can be great for a small business, where as most people assume only an installed PMS works for a small business because it is the more affordable option but because of the fact that one person is usually running the small business they can benefit from having access to the PMS from anywhere which is only capable from a cloud PMS. It is also important to remember that when moving to a new system it can not be assumed to be exactly like the previous system.
kpony001

Guests want smart technology, but security concerns remain | Hotel Management - 0 views

www.hotelmanagement.net/...vices-to-connect-guestroom-tvs

hotel management technology security innovation

shared by kpony001 on 14 Jan 19 - No Cached
  • More than 96 percent of hotel guests travel with a smartphone and nearly 46 percent of guests travel with at least two smart devices, representing a 10 percent increase in just two years
  • More than 80 percent of guests indicated a desire to wirelessly cast content from their devices onto guestroom televisions and more than 90 percent of surveyed hoteliers agreed that today's guests would prefer to be offered wireless casting abilities, rather than traditional video-on-demand services.
  • With hotels around the world universally experiencing diminishing profits from VOD, the survey points to entertainment platform functions that hoteliers can deploy alongside wireless casting in order to regain these revenues
  • ...12 more annotations...
  • more than 60 percent of surveyed guests indicated that they would like the ability to order amenities and services via the guestroom television, if given the option. Sixty-five percent of guests would like to be able to surf the internet on the TV entertainment system
  • Another 61 percent of guests also indicated a preference to access information on available hotel services, such as restaurant hours, via the guestroom television.
  • 65 percent of guests are “highly concerned” about inputting usernames and passwords into a guestroom television app, according to HIS. 
  • As voice becomes the preferred interface for guest and staff interactions with technology in hotels, there must be safeguards in place to ensure that no data falls into the wrong hands,
  • The same is true for protecting hotels’ proprietary data from disclosure
  • Hoteliers have a duty to protect their guests personally identifiable information and we’ve built our technology atop the leading natural language processing platforms to ensure they meet this duty.
  • How are you protecting the privacy of my guests? Are recordings associated with our guests’ personally identifiable information?
  • How are you protecting the security of my hotel’s proprietary data?
  • Many travelers have unique accents or dialects that aren’t well understood by popular voice assistants. Does your solution improve the accuracy of interactions? 
  • How are you measuring return on investment? How will your solution drive efficiencies and increase revenues?
  • Can I easily change and update interactions with my guests once deployed?
  • Without the right integrations, even the best product can add complexity and cost. Hoteliers need to make sure any vendor they consider has the integrations they need to set their team up for success.”
  • kpony001 on 14 Jan 19
     
    The article reports that the great majority of hotel guests desire to have state of the art innovation for their convenience, such as casting and voice interface technology. The type of innovation stems largely from guests being able to use their laptops or phones on the TV, while also access hotel services such as restaurant hours and possibly food services from the same interface. They assert. however that it is important for hoteliers to know how guests may be able to keep their identity hidden from potential practices such as "integration with the platform that may use this data for remarketing", integrate a system that can understand an manage foreign accents. It also brings up concerns of how to measure return on investment, showing a increase in revenue and that it is possible to update the interactions with guests once the technology is deployed.
laura kaczkowski

Travel Agents Increase Use of GDS to Book Hotel Rooms - 3 views

www.prnewswire.com/...ook-hotel-rooms-135915248.html

shared by laura kaczkowski on 14 Sep 12 - No Cached
  • Advanced Search Search Products & Services    News Releases Close Send a release Member sign in Become a member For bloggers For journalists Global sites Products & Services Knowledge Center Browse News Releases Contact PR Newswire
  • he leading global provider of revenue generating solutions for hoteliers, clearly demonstrates how crucial Global Distribution System (GDS) platforms and GDS Shopping Displays are to travel agents:
  • 84 percent of respondents indicated that they were using their GDS platform the same amount or more often than in the past, with 35 percent stating that they are using GDS more.
  • ...8 more annotations...
  • where 26 percent of travel agents stated that they used their GDS platform more often than in the past and 19 percent said they used the GDS Shopping Displays more often than before.
  • "Travel agents are increasing GDS hotel use, and have once again confirmed their confidence in GDS Shopping and Booking Displays,"
  • Travel agents in 25 countries across the Americas, EMEA (Europe/Middle East/Africa) and Asia/Pacific regions who subscribe to one of the four major GDS systems were asked to participate.
  • n the survey, travel agents worldwide also indicated that promotional messages are effective and often prompt bookings: 66 percent of all travel agents surveyed who were aware of promotional messages requested additional information by looking at the screen attached to the promotional message.
  • "This survey definitively shows that promotional messages are not only an excellent way to reach travel agents, but also a valuable sales catalyst,
  • s the leading provider of revenue generating solutions for hoteliers across the globe. TravelClick offers hotels world-class reservation solutions, business intelligence products and comprehensive media and marketing solutions to help hotels grow their business.
  • is one of the fastest growing marketing research firms in the United States. With offices across the country and in Europe and partnerships with many of the largest companies in the financial services, consumer package goods, automotive, healthcare, media, technology and travel and leisure industries worldwide, PMI also offers advanced advertising and brand measurement along with direct marketing expertise.

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  • laura kaczkowski on 14 Sep 12
     
    In the article, "Travel Agents Increase Use of GDS to Book Hotel Rooms," it talked about how the leading global provider of revenue is generating solutions for hotels, it shows how important GDS platforms are to travel agents. "84 percent of respondents indicated that they were using their GDS platform the same amount or more often than in the past, with 35 percent stating that they are using GDS more." Back in 2009, when the last study was conducted, about 26 percents of travel agents said that they used their GDS platform more often than in the past. This study also states that the annual GDS shopping displays will be over $50 million in 2011, which will increase more than a million bookings compared to 2010. There was another survey that was done and they surveyed different travel agents from across the world that were subscribed to a major GDS system. In the survey the travel agents indicated that promotional messages are effective and often prompt bookings. Out of the travel agents they surveyed, 66% said that they were aware of the "promotional messages requested addition information by looking at the screen attached to he promotional message." from this survey it showed that promotional messages are an excellent way to reach travel agents and from reaching the agent, they also reaching the customer, it's a win-win reaction.
  • Michael Anthony on 14 Sep 12
     
    I enjoyed the part about brand and promotional messaging, that is always a lure for me. When I see an attractive offer, evern If I'm not interested in booking or going to the destination, I often click on it anyway just to see the offer. It is a very effective marketing tool.
taurus1313

What Is Cloud Computing? A Beginner's Guide | Microsoft Azure - 0 views

azure.microsoft.com/...what-is-cloud-computing

technology Software hospitality

shared by taurus1313 on 02 Sep 18 - No Cached
  • Top benefits of cloud computing Cloud computing is a big shift from the traditional way businesses think about IT resources. Here are seven common reasons organizations are turning to cloud computing services: Cost Cloud computing eliminates the capital expense of buying hardware and software and setting up and running on-site datacenters—the racks of servers, the round-the-clock electricity for power and cooling, and the IT experts for managing the infrastructure. It adds up fast. Speed Most cloud computing services are provided self service and on demand, so even vast amounts of computing resources can be provisioned in minutes, typically with just a few mouse clicks, giving businesses a lot of flexibility and taking the pressure off capacity planning. Global scale The benefits of cloud computing services include the ability to scale elastically. In cloud speak, that means delivering the right amount of IT resources—for example, more or less computing power, storage, bandwidth—right when they’re needed, and from the right geographic location. Productivity On-site datacenters typically require a lot of “racking and stacking”—hardware setup, software patching, and other time-consuming IT management chores. Cloud computing removes the need for many of these tasks, so IT teams can spend time on achieving more important business goals. Performance The biggest cloud computing services run on a worldwide network of secure datacenters, which are regularly upgraded to the latest generation of fast and efficient computing hardware. This offers several benefits over a single corporate datacenter, including reduced network latency for applications and greater economies of scale. Reliability Cloud computing makes data backup, disaster recovery, and business continuity easier and less expensive because data can be mirrored at multiple redundant sites on the cloud provider’s network. Security Many cloud providers offer a broad set of policies, technologies, and controls that strengthen your security posture overall, helping protect your data, apps, and infrastructure from potential threats.
  • pelaez17 on 02 Sep 18
     
    If anybody here is interested to learn even more about cloud computing this is the perfect guide for you. It gives you a breakdown of the cost, pros and cons and much more. This article is also by microsoft which is a top 2 technological company on earth. It is a very educational post that will increase your knowledge on cloud computing and what the future holds for this interesting form of storage and information.
  • taurus1313 on 24 May 21
     
    Top benefits of cloud computing Cloud computing is a big shift from the traditional way businesses think about IT resources. Here are seven common reasons organizations are turning to cloud computing services: Cost Cloud computing eliminates the capital expense of buying hardware and software and setting up and running on-site datacenters-the racks of servers, the round-the-clock electricity for power and cooling, and the IT experts for managing the infrastructure. It adds up fast. Speed Most cloud computing services are provided self service and on demand, so even vast amounts of computing resources can be provisioned in minutes, typically with just a few mouse clicks, giving businesses a lot of flexibility and taking the pressure off capacity planning. Global scale The benefits of cloud computing services include the ability to scale elastically. In cloud speak, that means delivering the right amount of IT resources-for example, more or less computing power, storage, bandwidth-right when they're needed, and from the right geographic location. Productivity On-site datacenters typically require a lot of "racking and stacking"-hardware setup, software patching, and other time-consuming IT management chores. Cloud computing removes the need for many of these tasks, so IT teams can spend time on achieving more important business goals. Performance The biggest cloud computing services run on a worldwide network of secure datacenters, which are regularly upgraded to the latest generation of fast and efficient computing hardware. This offers several benefits over a single corporate datacenter, including reduced network latency for applications and greater economies of scale. Reliability Cloud computing makes data backup, disaster recovery, and business continuity easier and less expensive because data can be mirrored at multiple redundant sites on the cloud provider's network. Security Many cloud providers offer a broad set of policies, technologies, and c
nellyvero71

Your Hotel Operations Will Fail Without Tech - 0 views

hoteltechreport.com/...hotel-operations

shared by nellyvero71 on 18 Jun 20 - No Cached
  • Running a hotel is no easy task and hotel operations are insanely complex. Between managing rates and reservations on dozens of channels, keeping your teams in sync across multiple shifts, assigning rooms across various room types, and, most importantly, ensuring that guests are happy, there are a lot of opportunities for things to go wrong
  • With a property management system in place, the front desk agent can find the guest’s booking in just a few clicks and immediately see the guest’s history, preferences, and reservation details. From there, the agent can check the guest in or out, move them to a new room, extend their stay, change their payment method, and more in seconds.
  • A modern cloud based property management system like Jonas Chorum sits at the center of reservations processes and acts as your property's single source of truth with regards to inventory management.
  • ...9 more annotations...
  • Without a modern PMS you risk poor connections with key systems.  A bad connection with your channel manager could lead to overbooking and a weak connection with your RMS means that you are likely losing revenue from inaccurate pricing.
  • A modern cloud based PMS like Jonas Chorum also helps your team collaborate on reservations.  Your call center agents can quickly access and manage current bookings.  Your sales team can check to see which inventory is available and can be promised to new groups.  Your front desk agents use the PMS to create last minute walk in bookings.
  • A good property management system not only makes basic hotel operations more efficient for your front desk team, but it also allows the check-in process to be a positive part of the guest experience.
  • With the right hotel technology, you can make every department more efficient, streamline your basic hotel operations, delight guests, keep your property in tip-top shape, and even increase your RevPAR. Without it, your hotel could suffer from overworked staff, dissatisfied guests, and even physical damage.
  • Financial software can not only keep your finance department sane, but also help you uncover trends that can prevent your hotel from losing money. 
  • Good finance technology can save your accounting team from a mountain of work by automating payroll, creating invoice templates, and even compiling reports on the hotel’s financial activities.
  • Revenue management software does the heavy lifting for you by analyzing market trends to recommend the best rates for your hotel, which prevents you from leaving money on the table.
  • The engineering team needs help from other departments (especially room attendants and front desk agents) and from technology to receive, action, and track service requests.
  • Engineering software allows hotel staff to submit service orders that can be actioned by the maintenance team, ensuring that nothing gets overlooked or forgotten. The engineering team can even access these systems from their smartphones, so if an urgent service request comes up, someone can handle it immediately.
  • nellyvero71 on 18 Jun 20
     
    This article is about the important reasons why an hotel needs to have a proper property management system to operate. How effectively the system is going to work in the different departments. Specifically the article talks about Jonas Chorum as a modern cloud based property management system.
marble_bird

Conditions Associated with Increased Risk of Fraud A Model for Publicly Traded Restaurant Companies.pdf - 0 views

shared by marble_bird on 12 Jul 20 - No Cached
  • Many restaurant industry examples provide evidence that as a firm’s internal control structure weakens and deficiencies are found, the opportunity for fraud increases significantly.
  • The main premise of the study tests the application of the fraud triangle framework constructs to publicly traded restaurant companies during the time period of 2002–2014, using proxy variables defined through literature. The proxy variables selected were company size, amount of debt, employee turnover, organizational structure, the Recession, inflation rate, interest rate, executive stock compensation, return on assets, and international sales growth.
  • growing pressures from both passive and active investors to constantly increase their stock value in a competitive world where meeting performance goals are necessary to maintain a competitive edge
  • ...69 more annotations...
  • To meet targets, it is typical for companies to put additional stresses on their internal control structures by reducing head counts, requiring employees to perform more than one job, and rearranging risk profiles
  • The deceptive and corrupt business practicesofthesecompaniesandothersresulted largely from a failure of corporate governance and lack of ethical business practices, in which internal control mechanisms were circumvented by conflicts of interest that enriched executives and damaged shareholders
  • Deficiencies are often observed through review of the main business cycles: revenue and receivables, purchasing and payables, treasury and stock, and financial reporting
  • Internal controls are often the first avenue of protection in safeguarding assets and thwarting and discovering errors and fraud
  • Some research has been conducted in this area, and findings suggest that companies in the telecommunications, technology, financial, and services industries experience the most difficulty with SarbanesOxley compliance efforts because of increased risk of fraud from industry and company risk factors
  • Therefore, pressure resulting from expectations of financial performance, opportunity to circumvent internal controls, and rationalization coupled with certain inherent industry factors may contribute to increased risk of fraud
  • opportunity to engage in unethical behavior may stem from the macro environment, the operational features, and the specific nature of the business cycles
  • Because of this potential for fraud on the company, shareholders, and the public, examining the conditions that may prompt fraud is necessary for the efficiency of the restaurant industry, and namely, for those passive and active investors that are relying on the financial statements to be true and accurate
  • the restaurant industry is often susceptible to deficiencies because of its inherent characteristics and high control risk
  • Corporate scandals, misappropriation of assets and financial statement misstatement are all very real threats to the restaurant industry.
  • the central focus of this study is to understand the factors that contribute to increased risk of fraud to determine why fraud may occur despite the imposed regulation of the Sarbanes-Oxley Act.
  • numerous researchers have found indication that executive stock option compensation provides encouragements for behavior that is fraudulent or corrupt
  • the study seeks to identify the factors that may provide the optimal criteria to engage in fraudulent or opportunistic behavior, using the incidence of a reported control deficiency as the measurable dependent variable.
  • The fraud triangle is the model that explains the factors that may cause an individual or a company to commit occupational fraud.
  • The differing classifications and definitions of pressure provide evidence that the construct is not directly observable; therefore, researchers in this field have measured the construct of pressure through proxy variables
  • consists of three constructs: pressure/motivation, opportunity, and rationalization. The three constructs offer an explanation as to why management commits fraud, and the dynamic relationship that underlies the acts of occupational fraud.
  • pressure may best be classified into four general types that may lead to fraud: financial stability, external pressure, manager’s personal financial situations, and meeting financial targets (
  • when considering measurements of external pressures relating to debt financing, the financial leverage ratio is the most common measurement of the amount of debt.
  • Both pressures and opportunities are often determined by factors that occur at both the individual and company level (
  • ROA, or asset composition, is an appropriate proxy measurement for the pressure of meeting financial targets.
  • according to the fraud triangle, it can be said that opportunity does not exist unless a pressure exists.
  • nonshareable problems could also motivate groups of individuals, representative of a company’s culture, to commit fraud.
  • Opportunity is described as an atmosphere or temporary environment that enables fraud to be committed, usually with a small perceived probability of being caught or reprimanded
  • In a study of Swedish restaurant companies, it is noted that competition is very high, often resulting in price wars among different companies that reduce prices and then try to compensate through increased sales
  • Some risk factors include the susceptibility of the industry to market changes as well as the nature of the industry, coupled with the specific operations of the company such as whether there are significant or complex international operations; how effective management is at monitoring activities within the organization; and the level of complexity that exists in the organization
  • This environment is therefore dependent on the discretionary income of consumers, and this increased pressure may lead to earnings mismanagement through overstatement.
  • Public companies in the restaurant industry are susceptible to opportunities for fraud on the basis of the aforementioned opportunities
  • The ability to commit fraud in the restaurant industry results from inside knowledge of processes and procedures, and the ability to circumvent controls through weaknesses (
  • strong evidence has also linked the CEO position to fraud when the CEO is also the Chairman of the Board. In incidences like this, the CEO is the dominate decision maker for an organization that may provide an increased opportunity for fraud.
  • The underlying reason for these three categories of increased opportunities for fraud is the state of the internal controls structure, and management’s commitment to strong corporate governance
  • Rationalization is essentially an attitude, belief, or position of the mind or ethical personality that enables an employee or group of employees of a company to intentionally misappropriate assets and then defend their dishonest activities
  • Weak corporate governance structures are often presented through ineffective monitoring of management.
  • A quantifiable means of capturing this could be through review of executive stock compensation measures.
  • excessive use of discretionary accruals may lead to poor audit opinions, providing a rationalized thought for business activities.
  • the nature of the restaurant industry is often described as a periodic, seasonal, and cyclic trade
  • Defining parameters for financial reporting can also have an effect on reducing the rationalized behavior and the opportunity to commit fraud
  • Because these conditions have an obvious effect on earnings and measures of success, this seasonal variability and volatility should be considered when analyzing pressures in the restaurant industry
  • For restaurant companies, this means that rationalizations and attitudes can be managed by assessing the internal control environment and understanding the pressures and opportunities that exist for employees.
  • Some restaurant industry pressures that may impact profitable sales growth include a lack of understanding of the consumer’s perception, including the relevance of existing brands, and delays in opening new restaurants. Likewise, an inability to consider cost pressures, including increasing fees for supplies, utilities, and health care providers contracted by restaurants, as well as an incapability of obtaining economies of scale in procurement, could compress margins and negatively impact sales and operations profit margin.
  • The value in the application of the fraud triangle to the restaurant industry provides an opportunity to extend theoretical contributions that originated from mainstream accounting to hospitality literature, which is severely lacking in the current literature
  • Likewise, restaurant companies that are smaller (and therefore may not have strong internal controls) with increasingly complex transactions create additional opportunities for fraud to be committed
  • competitiveness is a condition that makes meeting financial targets difficult and provides opportunity for fraudulent behavior. External pressure from analysts and investors may create an incentive to misappropriate assets, which, in turn, distorts common financial measures of success such as return on assets.
  • when debt financing exists, in order to address past and future obligations, and remain competitive, restaurant companies are at an increased risk of fraud especially when disruptions in financial and credit markets exist.
  • Studies have revealed that restaurant company victory and demise is eventually correlated to restaurant leadership abilities and intentions; therefore, it can be stated that executives and managers’ intentions are of utmost concern in understanding risk of fraud
  • firms with increasingly complex operations coupled with changes in organizational structure have less resources to put into internal controls and are therefore at an increased risk for accounting errors.
  • .Internationalgrowthissubjecttorisks such as international political and economic conditions, foreign currency fluctuations, and divergent cultures and consumer inclinations
  • This study will focus on the variables most pertinent to the restaurant industry on the basis of the inherent characteristics of U.S. publicly traded restaurant companies, as previously described in this section.
  • a s a result of workforce diversity and the presence of many perceived low-skilled workers. In addition, as companies within the industry respond to declining performance, publicly traded restaurant companies may be subject to activist investors who wish to see a change in the executive management team. If a shake-up such as this would occur, the organizational structure of the company may become unstable, resulting in much greater opportunities for fraud to occur at all levels.
  • this study looks to assess the relation between the amount of debt a company has occurred and the incidence of reported internal control deficiencies.
  • Variables relating to rationalization are present in the restaurant industry when considering the motivations and attitudes of management. It is noted that in difficult times, such as the Recession, aggressive financial reporting tactics may be used
  • this study seeks to understand the effect of substantial stock compensation on increased fraud risk.
  • this study also hypothesizes that poor ROA could increase the risk of fraud, as the pressure provides executive management with the motivation to manipulate earnings.
  • this study suggests that the organizational structure of the company may provide opportunity for increased fraud risk through a unitary tone at the top.
  • this study analysed the disclosures of publicly traded restaurant companies to determine whether a company has a higher probability of increased fraud risk on the basis of the presented variables.
  • The results of the applied probit model reveal for the entire population set of publicly traded restaurant companies that the macroeconomic factors of the Recession, interest rate, inflation rate and unemployment rate all have a significant impact on the increased risk of fraud, as evidenced through a reported internal control deficiency.
  • As noted in the overall model, the results reveal that the model as a whole is a significant fit to the data. Although the company-level variables were not significant in the overall model, external factors were each significant.
  • Therefore, it can be said that the results of this study empirically support the intuition that changes in macroeconomic conditions may impact increased risk of fraud for companies in the restaurant industry.
  • It can be said that there is a significant relation between increased risk of fraud and the macroeconomic factors of interest, inflation, and unemployment rates.
  • from a managerial perspective, the study provides evidence that macroeconomic conditions that might affect consumer demand may increase the risk of fraud for publicly traded restaurant companies.
  • In addition to the high costs of compliance, it is also important to recognize additional managerial characteristics that may heighten the effects of the macroeconomic conditions on increased fraud risk.
  • As indicated by the results of the study, however, many times executive management does not recognize the problems associated with the macroeconomic conditions because of systematic perceptual filters that play the crucial role in the functioning of the company.
  • By focusing on the changing macroeconomic conditions that may have an empirical effect on demand, executive leadership will be able to streamline processes to avoid incidences of reporting internal control deficiencies when exposed to the macroeconomic conditions.
  • In the restaurant industry in particular, information is also not readily quantifiable, which makes it even more difficult to transform into meaningful and timely information for executive management. Particular examples include consumer insights and how well new promotions are received and moved throughout the market.
  • it should be noted that reported internal control deficiencies are indicative of increased fraud risk, but not necessarily conclusive that fraud has occurred. Therefore, just because a company has reported a deficiency, it does not indicate fraud, necessarily.
  • According to the model, the managerial factors are only exacerbated by the presence of macroeconomic factors.
  • the identified conditions could help managers to improve internal control when a high risk factor is realized. The contribution of this study may allow restaurant companies to deter activities that may result in increased risk of fraud.
  • Because the study revealed that the macroeconomic conditions were significant for the entire population of restaurant companies, an area of future research might explore the relevance of the co alignment model (Olsen &R o p e r , 1998) to strategic management decisions to reduce the risk of fraud.
  • for purposes of this study, privately traded companies are excluded. This is a limitation of the study because the results may indicate a problem that is more or less pervasive since the sample is representative of a small number of companies in the United States.
  • the model is limited in application because it does not take into account fluctuations among the variables over time.
  • marble_bird on 12 Jul 20
     
    This article covers the methodology and findings of a study conducted to examine the factors contributing to fraud risk in publicly traded restaurants. The article discusses factors in the fraud triangle, macroeconomic factors, and internal company factors that may contribute to fraud despite protections implemented per Sarbanes-Oxley. The study ultimately finds that internal company factors are insignificant when considering the impact on fraud risk, while macroeconomic factors, such as inflation or unemployment, drastically impact the level of fraud risk that a company may face.
anonymous

Are customers' reviews creating value in the hospitality industry? Exploring the moderating effects of market positioning - ScienceDirect - 0 views

www.sciencedirect.com/...S0268401216301049

Social Media Influence Tripadvisor effects on hotels user generated reviews

shared by anonymous on 25 Aug 20 - No Cached
  • reviews
  • positive effect on hotel revenues
  • outside popular destinations
  • ...39 more annotations...
  • online visibility
  • user-generated reviews
  • 240 small and medium-sized hotels
  • online retailers have thus been gaining increasing market power in influencing customers’ purchases (i.e., Inversini and Masiero, 2014, Silva, 2015, Yen and Tang, 2015) and have improved market transparency and uncertainty for travellers (Toh, Raven, & DeKay, 2011). For this reason, their role is now considered an infomediary (Chen, Yang, & Wang, 2015) because their capability to add value in transactions depends primarily on collecting and processing information about prices, destinations and travellers’ reviews.
  • positive effect on hotel revenue growth
  • outweighed by a negative effect on gross profit margins.
  • managerial implications discuss how hotels should use social media features according to a strategic view based on pursuing the horizontal and vertical differentiation of their services in an attempt to create more economic value from their online visibility and to protect profit margins from the intermediation in their customer relationships.
    • anonymous
      anonymous on 25 Aug 20
       
      MIS idea of how to actually use the information giving from this style of data mining
  • Online reviews provide additional information for travellers to mitigate the uncertainty about the quality of a hotel and about its fit to their needs and preferences on accommodations and destinations.
  • 50,115 user-generated reviews on TripAdvisor,
  • shake up long-lasting reputations through reviews posted by unmonitored influential opinion makers
  • Internet can be a value-destroying mechanism for small businesses and can deter hotels’ capacity to defend profit margins
  • empower buyers
  • ncrease the degree of rivalry among firms that sell and distribute their products/services
  • bargaining power
  • First, online ratings can have a beneficial effect on the occupancy rate of rooms, which is especially important for larger hotels that bear a greater cost of idle capacity, especially in off-peak periods. Second, visibility on social media can allow hotels to apply a price premium thanks to greater economic value generated by market transparency, the reduction of the search costs for both parties involved in the transaction
    • anonymous
      anonymous on 25 Aug 20
       
      Hypothesis broken into 2 parts
  • brand image of hotels,
    • anonymous
      anonymous on 25 Aug 20
       
      Potential here for bad press. Viral videos of mistakes/ misinformation etc.
  • maller hotels with opportunities for market growth in segments in which they have a limited market presence
  • exploring the relationship between online visibility and the creation of economic value in terms of increase of sales and profitability for a panel of 240 Italian small and medium hotels
  • ive million registered users who visit the platform 30 million times per month on average
  • we consider only the profitability (the value appropriation achieved through online visibility) and not the increase in sales (the value generation achieved through online visibility) because hotels’ market positioning affects a hotel’s capability to appropriate the economic value brought by online visibility and influences hotels’ ability to negotiate the infomediation fees, which in turn impact hotels’ profitability.
  • social networking (i.e., the opportunity that users have to connect with people with similar travel interests, needs or experience) and knowledge sharing
  • travellers can more easily find persons who share similar travel preferences and needs. In a similar way, a user consulting travellers’ reviews can see if the reviewer is a member of his/her friends’ social networks on other platforms, such as Facebook.
  • beyond allowing hotels to improve their room occupancy rates, online visibility may allow hotels to apply price premiums.
  • respond strategically to online reviews
  • positive relationship between online visibility and sales
  • three different forms.
  • first is the rating assigned by users, who can express their evaluations on a quantitative scale.
  • rates given by users are distributed over the scale.
    • anonymous
      anonymous on 25 Aug 20
       
      Think amazon review
  • number of reviews that users give to hotels
  • we may expect that online visibility on social media – seen as a composite measure of the three above-mentioned elements – can positively impact hotels’ revenue growth
    • anonymous
      anonymous on 25 Aug 20
       
      hypothesis
  • hotels’ market positioning between their online visibility and profitability.
  • Online visibility has a negative effect on the gross profit margin of a hotel.
  • Consequently, high star-rating hotels apply price premiums for their superior quality and attract less price sensitive customers, who have a higher willingness to pay for quality
  • we expect that less price sensitive customers are willing to pay more for hotels with higher customer ratings on infomediation platforms because they perceive these hotels to be more valuable
  • The relation between online visibility and sales profitability is stronger for hotels with high star-rating.
  • iche tourism appears to offer a more meaningful set of experiences, given the knowledge that tourists’ needs and wants are being met
  • “what makes a tourism destination truly competitive is its ability to increase tourism expenditure, to increasingly attract visitors while providing them with satisfying, memorable experiences, and to do so in a profitable way” (p. 2).
  • However, a number of studies have reported that online user-generated reviews are perceived as more credible than traditional word-of-mouth when they come from persons with similar attitudes and preferences
    • anonymous
      anonymous on 25 Aug 20
       
      Hate this.
  • Hotels in niche destinations are thus better positioned to extract more economic value from online visibility.
  • anonymous on 25 Aug 20
     
    This article analyzes how user-generated ratings have a positive impact on hotels revenue growth. It looks at this through three different methods: one, ratings that the uses provide, two at how those ratings are "distributed over the scale," and three, the number of reviews that hotel receives. The article observes 240 small to mid scale hotels in Italy. Some issues we see come up revolve around the subjectivity of user-generated reviews and how that can positively and negatively affect hotel occupancy and interest. Ultimately, it appears that hotels that already have a high star rating will benefit most from these user-generated ratings because they have a stronger bargaining tool. The other benefactor are small, niche hotels whose increase viability and unique qualities help it in encouraging new tourism and high level experiences.
kelseybarton

Meyers Develops Single-Use Paper RFID Hotel Key Card | Hospitality Technology - 2 views

hospitalitytech.com/-use-paper-rfid-hotel-key-card

shared by kelseybarton on 24 Jul 20 - No Cached
  • Meyers, a brand marketing and high-end commercial printing company, announced that it has created a solution that will help the hotel industry offer contactless check-in and room access.
  • Meyers has developed a paper RFID key card — called the AssureCard — that looks and feels like a plastic key card but is made from renewable paper pulp and may be disposed of after a single use.
  • In addition, Meyers has developed a low-cost key card dispenser that allows the customer to get their own card(s) while maintaining appropriate physical distancing with hotel employees.
  • ...10 more annotations...
  • Hotels typically reuse key cards for multiple guests, and in today’s environment, this practice has become unacceptable,
  • it can be contaminated with germs and bacteria. Now more than ever, there is a need for safe, sustainable alternatives for hotel check-in and room access.
  • In many cases, paper key cards may be printed at a cost that matches the cost of producing plastic cards, and the design options for custom branding are extensive (e.g., printing with graphics, foils, and glitter) and may include the option of an anti-microbial coating.
  • The single-user key concept provides a fresh card to each guest and prevents germs from getting passed to your guests or your employees,
  • Plus, hotels that use AssureCards can do so with the environment in mind by helping to reduce the plastic that goes into landfills
  • Paper cards are a proven technology and have been used for years as gift, loyalty, and product activation cards.
  • Meyers has developed a paper RFID key card — called the AssureCard — that looks and feels like a plastic key card but is made from renewable paper pulp and may be disposed of after a single use.
  • Meyers, a brand marketing and high-end commercial printing company, announced that it has created a solution that will help the hotel industry offer contactless check-in and room access.
  • with hotel employees.
  • AssureCard is made with a responsibly sourced paper fiber that offers all of the plastic key card’s best features — durability, convenience, and low cost
  • hankunli on 24 Jul 20
     
    Meyers have created a new way for hotels to avoid physical contact and contamination by using a disposable paper room card. This kind of card also has the advantage of reducing plastic waste and allow hotels to customize their cards. The article also has mentioned that the card can have a layer of anti-microbial coating if needed. Generally, this kind of card is a nice solution to be more eco-friendly and safe.
  • kelseybarton on 28 Aug 20
     
    The company Meyers has created a new, safe way for guests to enter their hotel rooms with the current conditions of the world today. "Meyers has developed a paper RFID key card - called the AssureCard - that looks and feels like a plastic key card but is made from renewable paper pulp and may be disposed of after a single use." It has been customary in the past for hotels to reuse plastic room keys from guest to guest. This practice is often a deterrent for guests and is also quite unsanitary. Provenance Hotels has been using this technology since January of 2020. Their corporate director, Christopher Bebo stated, "the single-user key concept provides a fresh card to each guest and prevents germs from getting passed to your guests or your employees... Plus, hotels that use AssureCards can do so with the environment in mind by helping to reduce the plastic that goes into landfills." I believe that this technology is an amazing advancement for the health and safety of our guests. The keys are produced at similar costs to what organizations are already paying for plastic keys and they can still provide guests with something that meets their brand standard and expectations. AssureCard is a "proven technology" that is good for the environment and it is going to help to keep our staff and guests safe in a time that is so uncertain.
kenziemoody

Technology in the Hospitality Industry - Have We Gone Too Far? | By Court Williams & Paul Savage - Hospitality Net - 3 views

www.hospitalitynet.org/...4092507.html

technology hospitality travel

shared by kenziemoody on 16 Jan 20 - No Cached
  • The hospitality industry is changing, and is rapidly becoming super high-tech.
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      The hospitality industry is changing, and is rapidly becoming super high-tech.
  • On arrival at their destination, guests no longer need to wait in line for the key to their room. They can now check in and out using electronic kiosks, online and mobile check-ins. Automated payments and the use of smartphones for keyless entry, making requests, online purchases, or even placing room service orders makes self-service an attractive option.
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Arrival technology - On arrival at their destination, guests no longer need to wait in line for the key to their room. They can now check in and out using electronic kiosks, online and mobile check-ins. Automated payments and the use of smartphones for keyless entry, making requests, online purchases, or even placing room service orders makes self-service an attractive option.
  • With the advent of technology, however, many activities previously performed by live humans have been replaced by automated methods, mainly in the attempt to streamline functionality and improve service
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      With the advent of technology, however, many activities previously performed by live humans have been replaced by automated methods, mainly in the attempt to streamline functionality and improve service
  • ...23 more annotations...
  • With the rising popularity of online reviews, hospitality guests now have the ability to research any venue to see what others have posted.
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Pro:With the rising popularity of online reviews, hospitality guests now have the ability to research any venue to see what others have posted.
  • Both review websites and social media platforms have become active gateways to global opinion, and travelers use these extensively to help them decide where to book
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Pro:Both review websites and social media platforms have become active gateways to global opinion, and travelers use these extensively to help them decide where to book
  • Technology is shaping how lodgings and restaurants are found and booked
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Technology is shaping how lodgings and restaurants are found and booked
  • Improving a guest's experience depends on the ability to identify the individual guest's preferences. The best way to determine these is by collecting data from first-, second- and third-party sources, combining and analyzing it effectively.
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Data has enhanced guest experience: Improving a guest's experience depends on the ability to identify the individual guest's preferences. The best way to determine these is by collecting data from first-, second- and third-party sources, combining and analyzing it effectively.
  • Theoretically, it should improve the customer experience, particularly through the use of data collected by using the various technologies
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Theoretically, it should improve the customer experience, particularly through the use of data collected by using the various technologies
  • We have also seen the emergence of cost-saving technologies that not only focus on guest loyalty but also reduce fixed costs and overheads.
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Pro: We have also seen the emergence of cost-saving technologies that not only focus on guest loyalty but also reduce fixed costs and overheads.
  • statistics that show an undoubtedly positive response to technology,
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Technology in the industry is well received
  • Biometric authentication offers the most secure method of proving identity that's currently available, and the hospitality industry has been quick to realize the need for this level of safety.
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Technology has improved security: Biometric authentication offers the most secure method of proving identity that's currently available, and the hospitality industry has been quick to realize the need for this level of safety.
  • guests can now control all the functions of the room from a single device
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      Pro: guests can now control all the functions of the room from a single device
  • two-thirds of U.S. hotel guest respondents felt it was either "extremely important" or "very important" for hotels to continue investing in technology to enhance the guest experience.
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      two-thirds of U.S. hotel guest respondents felt it was either "extremely important" or "very important" for hotels to continue investing in technology to enhance the guest experience.
  • it seems travelers of all ages are keen to make the most of online hotel reservations and reviews
  • hey understand the need for (and value of) using technology to support the guest experience, and although they are rapidly embracing many aspects of this brave new world, they still need to be able to consult with a human being if required.
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      They appreciate t hey understand the need for (and value of) using technology to support the guest experience, and although they are rapidly embracing many aspects of this brave new world, they still need to be able to consult with a human being if required.
  • it seems travelers of all ages are keen to make the most of online hotel reservations and reviews
    • kaylaabad
      kaylaabad on 29 Feb 20
       
      it seems travelers of all ages are keen to make the most of online hotel reservations and reviews
  • he experience is now facilitated by technological factors,
    • cleon087
      cleon087 on 13 Jul 20
       
      The key word is facilitates, I think that technology has enhanced experience but should never replace the hospitality warm feeling aspect.
  • Baby Boomers who look set to remain the most prolific travelers for the next two to three years, and see if the numbers support the theory that technology has improved the hospitality experience.
    • cleon087
      cleon087 on 13 Jul 20
       
      I think that technology is becoming a necessity in the hospitality industry. There is a need to be up to date. Especially if you want to attract the new generation of travelers.
  • But is it really an improvement, or has the industry gone too far? Do these changes enhance the guest's experience, or have we forfeited the true meaning of the word "hospitality" in the process?
    • cleon087
      cleon087 on 13 Jul 20
       
      I think that the industry is just simply evolving with the times.
  • how much is it taking away from the guest's personal experience?
  • shows the reviews for companies in the hospitality industry are considered 48% more important and valuable than in other industries, which indicates the target audience takes online reviews exceptionally seriously
    • cleon087
      cleon087 on 13 Jul 20
       
      I think that this just leads to different opportunities. Now you can show off on your social media how great your hotel is and its advantages. The only negative is how easily someone can write a negative review that might not even be true.
  • from notifications about special deals to managing their loyalty program account.
    • cleon087
      cleon087 on 13 Jul 20
       
      Investing in a well designed app for your company is crucial now.
  • The benefits of automation will soon become crystal clear.
    • cleon087
      cleon087 on 13 Jul 20
       
      This just helps improve the service and you will still need someone at the front desk.
  • Guests can stream SHOWTIME shows for free through the app, without needing to input credentials or create a subscription. Anyone who prefers not to download the app can operate the same controls using a simplified, in-room remote device.
    • cleon087
      cleon087 on 13 Jul 20
       
      I feel like this just enhances the experience and makes it more personal.
  • These have taken off extensively, with research showing one half of millennials, 26% of Gen Xers and 12% of Baby Boomers consider themselves "travel hackers," which means they believe they know all the best ways to use technology for good deals. Chatbots on booking websites enable the user to ask questions without even getting up from the sofa.
    • cleon087
      cleon087 on 13 Jul 20
       
      People are spending more time looking for the perfect hotel and for the best price. I know I do this whenever I travel and most of the time becoming a member for something like the Marriott, will end up being the best deal.
  • e, for example, the system can automatically send the conference itinerary and a map of the meeting spaces to his or her device.
  • augu010 on 16 Jan 20
     
    The Hospitality industry have been greatly impacted over the years by the advancements made in technology. Customers have everything assessable by the click of a button or utilization of an app. Various software is being created to provide for quick and easy service but in turn takes away from the personal experiences.
  • ...1 more comment...
  • kaylaabad on 29 Feb 20
     
    "All of this indicates that while a hotel offering a truly connected experience is likely to be full of very happy, empowered guests, we can't quite replace the human touch completely just yet." Though technology is taking over the industry, it is important that we not lose or completely replace the humanity of the industry. While technology has enhanced the employee experience and guests do appreciate it, they also like to know that they have a human waiting for them should they have any issues. All in all, technology has improved the industry by enabling a more personalized and empowering experience and increasing the safety of the guests and employees.
  • cleon087 on 13 Jul 20
     
    This article is about the new advances in technology and investing whether it has been taken too far. It analyzes the new advancements such as apps where reservations are made. These new technologies have been made to enhance experience but not replace the warm feeling that hospitality gives you. The article concludes that we haven't taken it too far, instead it has made guest experience better. Especially when it comes to checking in, and not having to wait a huge line when you just want to get to your room.
  • kenziemoody on 30 Aug 20
     
    As we learned this week, technology is impacting the hospitality industry. As the article states- "improving a guest's experience depends on the ability to identify the individual guest's preferences." This reminded me of the Smart Bar video we watched this week. Technology can enhance the quality of experience. However, depending on the businness/ company- most people would be unwilling to put a an investment into tech unless they see a significant uptake from the technology. Even though technology plays a major role in the industry, it has not completely took over human interaction.
amoon008

Advantages of Cloud Computing for the Hotel Industry - 0 views

www.innquest.com/...cloud-computing-hotel-industry

cloud computing advantages hotel industry technology hospitality software

shared by amoon008 on 31 May 20 - No Cached
  • Is cloud computing secure?If you invest in a cloud Hotel Property Management System (PMS), then you won’t need to store any data onsite; it simply resides on a server elsewhere (it could even be in another country)
  • In reality, the opposite is true, because if you choose the right cloud-based Hotel PMS, then your operations will benefit from some of the best cybersecurity in the business. You’re unlikely to have enterprise-level security and firewalls, intrusion detection and industry-standard SSL encryption in-house, but the cloud PMS delivers all those protections for a fraction of the cost.
  • Cloud computing relies on a robust Internet connection and a device of your choosing.
  • ...21 more annotations...
  • Lower operational costs
  • With cloud computing, you can truly work from anywhere – a capability the hospitality industry has historically struggled to embrace, often due to the limits of the technology in use.
  • Firstly, it must provide the best suite of management tools for all members of your hotel staff; and, secondly, it must help you provide the best guest experience possible. Another advantage of cloud computing is it enables your staff members to work more efficiently by freeing them from fixed terminals. Check-ins aren’t limited to the reception desk,
  • Improved guest experience thanks to mobility
  • Remote working
  • Depending on the system from which you’re moving, a complete import of your data might be possible, and the ease with which such systems can be learned means staff adoption is unlikely to cause any problems or service interruptions.
    • amoon008
      amoon008 on 24 Jan 22
       
      If you use a cloud Hotel Property Management System, you won't have to store any data on site (PMS). Instead, it will be kept on a different server (it could even be in another country). It's understandable that you'd feel insecure as a result. In reality, the opposite is true: if you choose the right cloud-based Hotel PMS, your operations will benefit from some of the best cybersecurity in the industry. You're unlikely to have enterprise-level security and firewalls, intrusion detection, or industry-standard SSL encryption in-house, but the cloud PMS offers all of these protections for a fraction of the cost.
    • amoon008
      amoon008 on 24 Jan 22
       
      It is undeniable that times are changing. Older, on-premise hotel PMS solutions are being transferred to cloud computing, which is helping to improve basic, but crucial, hotel operational circumstances like a check-in or check-out line. Cloud computing requires a strong Internet connection and a device of your choice. Because cloud applications are so versatile, you can use your cellular-enabled tablet to run your reception desk from the palm of your hand even if your main Internet connection is down. Cloud computing allows you to operate from anywhere, at any time, in a secure environment, all while reducing IT infrastructure and continuing IT costs. In today's connected world, cloud computing is incredibly dependable.
    • amoon008
      amoon008 on 24 Jan 22
       
      Changing to a cloud PMS isn't as difficult as you would imagine. A comprehensive import of your data may be achievable depending on the system you're transferring from, and the ease with which such systems can be learned assures that staff adoption is unlikely to cause any problems or service interruptions. Finally, and perhaps most critically, one of the most major benefits of cloud computing is that it takes far less time to make adjustments. It's not unusual to have virtually 100% uptime, allowing you to take use of the best features and benefits your PMS supplier has to offer without having to deal with lengthy, inconvenient update routines.
  • Older, on-premise hotel PMS solutions are now being shifted to take advantage of cloud computing, helping improve basic, but important, common hotel operations situations, such as a line of people waiting to check in or out.
  • Cloud computing relies on a robust Internet connection and a device of you
  • Cloud computing relies on a robust Internet connection and a device of your choosi
  • Cloud computing relies on a robust Internet connection and a device of your choosing
  • Lower operational costs
  • Lower operational costs
  • invest in a cloud Hotel Property Management System (PMS), then you won’t need to store any data onsite; it simply resides on a server elsewhere (it could even be in another cou
  • Cloud computing relies on a robust Internet connection and a device of your choosing
  • Remote working
  • Improved guest experience thanks to mobility
  • Depending on the system from which you’re moving, a complete import of your data might be possible, and the ease with which such systems can be learned means staff adoption is unlikely to cause any problems or service interruptions.
  • In 2019, just 24% of hotels in the U.S. were using a cloud
  • anaslip on 31 May 20
     
    This article is telling us about some advantages of cloud computing in hospitality industry (hotel industry). You won`t need to store any data outside if you invest in Hotel Property Management System (PMS). There are advantages in cloud computing in hotel industry both for hotel staff and guests.
mmoutsatsos

How (And Why) To Move From A Tech-Enabled Services Business To A True SaaS Platform - 0 views

www.forbes.com/...siness-to-a-true-saas-platform

technology software Tech

shared by mmoutsatsos on 18 Jan 22 - No Cached
  • According to Gartner, SaaS, the biggest portion of the cloud market, is expected to grow to $113.1 billion in revenue by 2021.
  • companies are likely wary of undertaking the process of transitioning their organization from a tech-enabled service provider to a true SaaS platform out of concern over the challenges that may arise.
  • it’s unwarranted given the vast resources available to help in the process, including lessons learned from individuals who have experienced (and excelled at) these transitions.
  • ...15 more annotations...
  • While our team was aware that the potential for things to go wrong existed, they focused on delivering value and service to clients and end users, which was the driving force that motivated the team during and following the process.
  • SaaS benefits users across the board, including compliance, security, scalability, redundancy and cost efficiencies.
  • SaaS solutions offer tremendous savings, from both a cost and human labor perspective.
  • Companies can enjoy flexible pricing models and choose to pay as they go, use a subscription-based model or handpick the features they desire.
  • SaaS subscribers benefit from a more secure, constantly monitored environment and from on-demand rapid development and break-fix protocols.
  • added level of security SaaS models provide around an organization’s proprietary data as well as rapid development and innovation.
  • SaaS solutions create significant efficiencies by enabling self-service and personalization that is driven by the user.
  • Be resolute in the value proposition your customers and end users will experience after transitioning.
  • you must be regimented in communicating the value of making the transition while creating transparency to ensure that clients are informed, heard and happy.
  • • Make customers aware of potential risks. 
  • Be transparent about any drawbacks or material risks customers will experience by sticking with dated infrastructures and approaches.
  • • Don’t be bashful about a sense of urgency.
  • The fear of transition and change was far outweighed by the security and service risks that had previously been invisible to our client base.
  • In today’s complex world, providers must prioritize the needs of their customers as well as mitigate their risks.
  • SaaS solutions are the way of the future, maximizing a client’s benefits as well as their risk mitigation.
  • mmoutsatsos on 18 Jan 22
     
    Why you should move from a Tech-Enabled Service to a SaaS Platform and some things to keep in mind if you do decided to make the transition.
Xu Wang

Emerald | Have human resource information systems evolved into internal e-commerce? - 0 views

www.emeraldinsight.com/journals.htm

shared by Xu Wang on 01 Dec 12 - No Cached
  • Human resources (HR) have been a well-established function in organizations for decades,
  • the department was typically perceived by many organizations as a “necessary evil,” that is to say, as an essential but in no way profitable or advantageous element,
  • even at the current time HRIS is not limited to technological elements alone, such as computer hardware and software applications, but also includes the people, policies, procedures, and data required to manage the HR function.
  • ...55 more annotations...
  • Nevertheless, these well-accepted attributes of HR have been challenged in the past few years, as several indicators reflect fundamental changes within the HR function,
  • although little has changed in this function over the past decades, there are growing expectations that HR will improve corporate competitive advantages by adding real measurable value to the organization.
  • The apparent difficulties in upgrading HR to a strategic position in organizations result in missed opportunities especially in hospitality and tourism, where the human capital has substantive potential to improve the competitive advantage of enterprises, particularly due to the growing competitiveness of the industry, as well as the centrality of the human element in the delivery of hospitality products and services
  • The second change in contemporary HR which, interestingly, is closely related to the previous one, is the growing trend of incorporating advanced information technology (IT) in HR practices.
  • There is extensive evidence to the growing transfer of HR functions to digital formats, as can be seen in the growing popularity of human resource information systems (HRIS) among organizations. HRIS is currently perceived as one of the important factors influencing the role of the HR function, as well as the workplace as a whole. Although in many aspects, technology remains under-utilized in HR functions (Jones and Hoell, 2005), recently its effects have begun to be evident in many organizational aspects,
  • Furthermore, it is widely argued that the adoption of HRIS is likely to promote HR to the awaited position of strategic partner in the organization. The main reason for this is that by using HRIS, HR professionals can improve their performance by gaining better knowledge of the organization and its employees, thus facilitate participation in strategic planning and implementation. In addition, by improving the efficiency and effectiveness of the HR day-to-day administrative tasks, HRIS allows the HR staff to dedicate more time to strategic decision making and planning, which consequently provides more value to the organization to enhance its position within it
  • modern HRIS make optimal use of internet and web capabilities for performing their tasks
  • successful HRIS support the planning and implementation of managerial key processes in the organization, such as executive decision making, technology selection, interdepartmental integration, and organizational reporting structures.
  • Intranet-based employee self-service (ESS) provides employees direct access, mainly through a web browser but also through a centralized kiosk, to personal HR-related information. Thus, the employees can individually handle transactions that used to be carried out by HR personnel,
  • Both MSS and ESS create a trend of delegation of responsibilities and activities that were once considered to be the domain of HR professionals and administrative personnel, directly to employees and managers
  • HRIS was seen mostly as a special form of office automation systems, the emphasis being on reducing costs and staff while making the standard HR tasks more efficient
  • In addition, in today's workplace the HR tasks have become more complex, along with organizational trends such as globalization, consolidations, strategic partnerships, and greater than ever governmental and regulatory reporting requirements for employees.
  • Therefore, from the administrative perspective, by providing powerful computing capabilities, HRIS are changing and improving procedures and processes that were carried out less efficiently before,
  • the automation of routine transactions provides HR professionals with time to perform strategic functions related to the human capital
  • HRIS allow the firm to be proactive in HR planning, by giving managers a constant flow of employee information
  • since HRIS can significantly improve the way employees and managers communicate with each other through various communication channels, this improves the flow of information and expertise throughout the organization, thereby enhancing the firms' strategic capabilities
  • Another prominent perceived characteristic of the HR function has been its reliance on relatively low-tech methods in implementing its tasks
  • Although HRIS can provide both administrative and strategic advantages, it should be noted from the onset that they are usually expensive systems to purchase and implement. Designing and implementing customized HRIS, adapted to the specific needs of the organization, will significantly enhance its functionality, but will result in increased software and hardware costs, as well as time-to-deployment
  • the initial costs of developing such HRIS are high,
  • In order to reduce the costs of HRIS, an organization can purchase off-the-shelf applications composed of HR database programs, aimed at meeting the general needs of HR functions
  • These findings point to the vital need of the HR function to provide evidence of the effectiveness of HRIS, for the purpose of attaining the executive management support for the change.
  • for a successful implementation of HRIS, it is no less important to obtain the support of managers and employees in the organization. Although modern HRIS offer clear advantages to managers, through the use of MSS, for better management of their staff, the implementation of such systems is likely to be followed by a certain level of resentment on the part of the managers. Since MSS transfer the responsibility of performing employee HR-related transactions from the HR staff to the direct managers, many of them are frustrated since they feel that additional administrative tasks are being imposed on them
  • Another relatively common problem, concerning both the implementation and the flowing management of HRIS, is the question of who is in charge of the system. Since the successful development of HRIS requires the input of both the IT and the HR departments, it is not uncommon for disputes over areas of responsibility to break out between these departments.
  • Other territorial conflicts around HRIS may arise when departments feel that the system expropriates some of its authorities; for example, the payroll department might resist HRIS that combines payroll functions. A possible solution to such a problem can be the establishment of cross-functional teams that run HRIS projects
  • the implementation of HRIS raises both ethical and legal issues that need to be addressed by the organization. First, the use of relational database technology provides access to more detailed employee information than ever before.
  • Second, HRIS usually contain private information on the employees, while the access to this information is often allowed to employees outside HR, as well. As a result, some employees feel that their private lives are not protected adequately.
  • The hospitality industry is characterized by a higher turnover rate than other sectors of the economy
  • Traditionally, HR in organizations has utilized low-tech methods in recruitment.
  • Internet recruiting benefits both the organization and the job seeker's perspectives (Pearce and Tuten, 2001; Singh and Finn, 2003). The benefits to the recruiters include: Cost savings, as it is significantly cheaper to advertise on the internet than in a newspaper. Compared to the use of professional search firms (also known as headhunters) the amounts saved are even higher. Recruiters generally receive more applications, which results in a greater pool of candidates from which to choose. Recruiters may receive applications faster, often even on the same day a position is announced. Improved ability to target a specific audience, thereby decreasing future turnover. Time saving, as more unqualified or unfit applicants can be eliminated, through online contact, in the initial phases of the recruitment process.
  • On the other hand, internet recruitment is not without limitations.
  • Once the recruitment process has ensured a large pool of applicants to choose from, the next phase is to select the most suitable candidates.
  • Traditionally, these selection methods involve the visit of the candidate to the organization or, to a lesser degree, to an assessment center, for interviewing, pen-and-paper testing, or situational testing, including group dynamics.
  • The use of advanced technology allows the selection process to complete the widespread online recruitment methods.
  • Nevertheless, the main impact of technology in selection procedures is in relation to employee interviewing and testing.
  • Anderson (2003) broadly described the prominent technology-based selection procedures, along with an assessment of their acceptance and effectiveness.
  • Adequate training is essential in providing quality services, yet traditionally hospitality organizations have not invested adequate resources in training their employees (Conrade et al., 1994). Most of the knowledge and skills of hospitality employees is transferred through on-the-job training,
  • However, as noted by Collins (2004), delivery of organized and structured training programs in the hospitality industry is a constant challenge, mainly because of the size and geographical dispersion of the workforce, as well as the extensive resources – financial, work, and time – needed to establish in-house training programs.
  • Although technology-based training methods have been available for a long time, the hospitality industry has usually lagged behind other sectors in adopting them.
  • Web-based training (WBT) can deliver courses nationwide or worldwide at all time zones to any connected computer, and is easy to update and monitor.
  • Effective performance evaluation plays a critical role in the successful implementation of organizational strategy and in gaining a competitive advantage. Therefore, in addition to important HR decisions that greatly rely on performance evaluation, such as promotions, outplacements, dismissals, many organizations link performance to compensations and rewards. As noted by Bowley and Link (2005), a performance-based compensation plan, often known as “pay-per-performance,” should reflect the organization's goals.
  • the traditional methods, based on a disconnected blend of discrete applications, spreadsheet programs and paper-based systems, to communicate goals, track employee performance and manage compensation, are insufficient in the contemporary challenges of linking performance evaluation to organizational strategy (Bowley and Link, 2005). Yet, although sophisticated HRIS were developed to meet these contemporary challenges, Ensher et al. (2002) found little effect of HRIS on the process of performance management among HR executives, who still rely on paper-and-pencil administration and hard copy documentation of employee evaluation.
  • Nevertheless, CPM has drawbacks that are highly relevant to a service industry such as the hospitality industry (Miller, 2003). The main concern that CPM raises is that reliance only on quantitative criteria is likely to lead to the neglect of more qualitative aspects of performance.
  • Consequently, an effective CPM must be followed by the establishment of an employee development plan, designed in collaboration with his/her supervisor. The second application of technology in appraisal management is online evaluation and appraisal software (Miller, 2003). In contrast to the aforementioned CPM, in these cases technology facilitates delivering performance feedback, rather than generating the actual evaluation outcome.
  • 360° feedback,
  • In addition, evaluation software packages can be used as stand-alone applications or as an integral part of the organization's HRIS, which offers computerized standard evaluation forms. The use of user-friendly software in evaluating employees allows managers to focus more on the contents of the evaluation, rather than on the forms.
  • Therefore, the use of computer software programs allows better coping with these challenges, while saving time and money.
  • While the organization enjoys the reduced need for complex bureaucracy, the employees enjoy better control and enhanced anonymity, as there is no need for dealing directly with HR staff on personal financial matters.
  • The use of HRIS has significant impact on the current affairs between the management and the employees, as well as the characteristics and the environment of the contemporary workplace. From the administrative perspective, through the HRIS the managers and the employees have access to relevant information on employee work rules, policies, and regulations on issues like privacy, illegal discrimination, and work diversity. In addition, the HRIS can assist discharged or displaced employees in finding alternative employment, by providing links to career counselors, training programs, and information, all of which are required for a successful and effective job search
  • technology has changed the nature of the workplace and employer-employee relations more fundamentally than just providing more accessible information.
  • Traditional e-commerce technology provides product/service, promotion, placement, and pricing strategic initiatives to external constituents through the use of extranet platforms merged with intranets (for instance, customer relationship management). HRIS technology provides the same initiatives through the use of intranets merged with extranet platforms (for example, recruitment). Thus, HRIS technology may be considered to represent internal e-commerce systems, which are crucial to the alignment of HR functions within strategic initiatives aimed at sustainable competitive advantages.
  • The evolution of HRIS platforms provides a range of tools for use by enhancing employee-employer relationships. The full service range of HRIS functions brings human capital closer to the strategic direction of the organization.
  • However, the technology is merely a tool that may enhance strategic alignment.
  • There is also evidence from the literature that a disengagement of the HR function from strategic initiatives exist in many hospitality enterprises.
  • It is common knowledge that the hospitality industry is labor intensive with many points of intimate service interactions of long duration. HR will produce sustainable competitive advantages for those firms that include the HR function in a united strategic direction.
  • The literature identifies the advantages of aligned human capital as a means to accomplishing sustainable competitive advantage for enterprises.
  • Xu Wang on 01 Dec 12
     
    This article is a research paper did by Amir and Beer-Sheva. The purpose of this paper is to discuss the impact of technology on the human resources function in organizations, in general, and in hospitality firms, in particular. At the beginning, it introduced the role of human resources department in organizations for decades. And the trend or changes in contemporary human resources. Then it came out that we cannot skipped the effect of technology on the HR function, especially in tourism and hospitality industry. So, next it gave the definitions of HRIS by introducing technology. And list some advantages and challenges of using HRIS. In the end, it listed how technology put infusion across HR function, including recruitment, selection, training, performance evaluation and compensation, payroll, benefits and pension administration, labor relations and outplacement.
Cindy Saunders

More Than 1 in 3 Mobile Phone Owners Subscribe to Mobile Messages from Businesses | News | Hospitality Magazine (HT) - 1 views

hospitalitytechnology.edgl.com/...-Messages-from-Businesses86430

mobile messages businesses

shared by Cindy Saunders on 26 May 13 - No Cached
  • The study found 36 percent of mobile phone owners subscribe to receive mobile messages from businesses, and of those subscribers, 90 percent opt to receive mobile messages from one to five businesses.
  • Businesses have an opportunity to reach mobile phone owners who do not currently communicate with companies via mobile messaging, according to the study. Forty-eight percent of mobile phone owners who do not subscribe to receive mobile messages from businesses would opt in if messages were customized to their specific needs or preferences, signaling a need for businesses to shift from sending mass messages to more personalized information.
  • Cindy Saunders on 26 May 13
     
    This is an article about how 1/3 of all consumers would subscribe to receive mobile messages from their favorite suppliers, retailers, etc. It is interesting to note that 70% of respondents to the survey would not use mobile messaging with their work colleagues, but they will with financial institutions, healthcare (even to using mobile messaging with their Dr.) and travel instances/ie confirmations. Further, nearly half of consumers would subscribe if the message was personalized to them based on their specific choices or preferences.
Paulette Grant

How companies are benefiting from Web 2.0: McKinsey Global Survey results | McKinsey & Company - 0 views

www.mckinsey.com/...mckinsey_global_survey_results

web 2.0 technology online survey

shared by Paulette Grant on 13 Jun 13 - No Cached
  • Nearly 1,700 executives from around the world, across a range of industries and functional areas, responded to this year’s survey.1 1.McKinsey Quarterly conducted the survey online in June 2009 and received 1,695 responses from executives across industries, regions, and functional specialties. We asked them about the value they have realized from their Web 2.0 deployments in three main areas: within their organizations; externally, in their relations with customers; and in their dealings with suppliers, partners, and outside experts.
  • Paulette Grant on 13 Jun 13
     
    The article highlights the benefits that companies around the world are deriving through the use of web 2.0. This was done through a survey from a range of industries that has used web2.0 and has seen tremendous value of the technology in dealing with both internal and external customers. According to the report 69 percent of respondents report that web 2.0 has impacted their businesses in a positive way. They are able to market products more effectively, reduce the cost of doing business and better able to communicate with customers, suppliers and of course the ability to collaborate with business partners and experts in a dynamic way; something that was not possible using the static web pages of web 1.0 The article was written four years ago and this goes to show that the technological capabilities of web 2.0, one that revolutionizes the way business has been conducted online, has been around for quite a long time and has been creating tremendous benefits for many businesses such as increase revenues. As the technology continues to increase and expand, and the public's acceptance continues to grow, going beyond web 2.0 is what we are presently experiencing using tools such as semantic web and augmented reality with the launch of web 3.0. The report uses exhibits to highlights areas that companies have gain measurable benefits using web 2.0, how companies have tie other technologies into web 2.0 and regions of the world such as North American and China that have experience tremendous benefits from web 2.0 interaction with both customers and business partners.
yiran DING

Airlines vs. the World | An Analysis of Future GDS & OTA Trends | By Douglas Quinby - 1 views

www.hospitalitynet.org/...4049707.html

airlines future GDS

shared by yiran DING on 31 Jan 13 - No Cached
  • yiran DING on 31 Jan 13
     
    This article analysis the future of the GDS for airlines from both the airline company's perspective and the marketing perspective. The conflicts between airlines and GDS and the agencies is a recycling battle. It has been back and forth with the airlines withdraw from the system and ended up renewing contracts. The most recent war initiated by American airline pulled its inventory from Orbitz in December, 2010, in order to force GDS Travelport to drop the distribution cost. The two parties need each other and it is time for them to reach common ground and have mutual benefits.Delta has done something for that by adopting three second-tire OTAs. http://www.tnooz.com/2010/12/22/news/delta-cites-apple-experience-exits-cheapoair-bookit-com-onetravel/ But those are the short-term issues. In the long term is that " airlines' long-term strategy to advance distribution from fare- and schedule-led selling to merchandising. " The article also give a marketing perspective. It shows the intention of American Airline to build a system that link directly to the airline that don`t have to obey the searching rules of the agency. It also listed nine unanswered questions and wild cards, which indicates the risk of this strategic shift.
ypere044

Hotel guests spend more on telecom; 38% rise in past two years - USATODAY.com - 0 views

travel.usatoday.com/...1

hotel telecom Hospitality revenue

shared by ypere044 on 22 Jan 13 - No Cached
  • The way travelers communicate on the road has changed dramatically over the years, and these changes become evident when analyzing the revenue earned by U.S. hotels from their guests for use of telecommunication devices and services. In lodging industry parlance, "telecommunications revenue" includes monies received from the guest use of hotel room phones, fax machines, and internet connections.According to our research, telecommunications revenue at the average U.S. hotel in PKF's annual Trends in the Hotel Industry survey sample has declined by 79% since 2000.
  • Internet fees help drive growth in telecom revenue
  • Tiered Internet pricing: Here to stay?
  • ...1 more annotation...
  • to tell us about the state of the industry's telecommunications revenue stream - a stream that includes Internet fees.
  • Dandan Mao on 22 Jan 13
     
    "The way travelers communicate on the road has changed dramatically over the years, and these changes become evident when analyzing the revenue earned by U.S. hotels from their guests for use of telecommunication devices and services. In lodging industry parlance, "telecommunications revenue" includes monies received from the guest use of hotel room phones, fax machines, and internet connections."
  • Siyu Ma on 25 Jan 13
     
    This year, travelers are on track to pay U.S. hotels an estimated $1.95 billion in fees and surcharges - an amount that includes unpopular Internet charges. With this in mind, Hotel Check-In asked Robert Mandelbaum, the Atlanta-based director of information services for PKF Hospitality Research, to tell us about the state of the industry's telecommunications revenue stream - a stream that includes Internet fees.
  • ypere044 on 21 May 14
     
    Over the years, with technological and telecommunication advances the way we communication while on the road or on vacation has changed. I remember going on vacation as a child and being able to call my grandma from our hotel room once a day because we didn't want to spend too much money on calling back home or getting a voicemail from family members calling while we weren't in the hotel room. Over the years, this has changed dramatically. Now I can go on vacation and call, text, send emails, pictures, and videos to all my contacts with the use of my cell phone or with the use of my laptop in a WiFi area. This article gives insight on the revenue provided by telecommunications as told by Robert Mandelbaum a director of information services. He tells us that internet fees help with the growth of telecom revenue, as use of in room phones has decreased. This is just one way that the changes in technology have affected the industry. In this case, telecommunication advances have had a negative effect on the revenue in telecommunications but its only a matter of time until something new comes around and attempts to restore profit production. 
Sasha Bravo

U.S. Hotel Guests Hanging Up and Logging In | By Robert Mandelbaum - 0 views

www.hospitalitynet.org/...4059204.html

shared by Sasha Bravo on 25 Jan 13 - No Cached
  • The way travelers communicate on the road has changed dramatically over the years, and these changes become evident when analyzing the revenue earned by U.S. hotels from their guests for use of telecommunication devices and services
  • Not only has telecommunications become a minor revenue source, it now "costs" most hotels to provide telephone service to its guests.
  • he initial decline in telecommunications revenue during the period 2000 through 2009 can be easily explained by the increased use of calling cards, then cell phones
  • ...3 more annotations...
  • we believe it is an increase in the monies collected from internet connections that is driving the growth in telecommunications revenue that has occurred during the past two years.
  • more hotels are beginning to follow the successful paths of those chains that have always opted to charge for internet connectivity.
  • A tiered pricing structure based on connectivity speed is the current trend in hotel internet charges. While this practice will most likely not restore the profit-producing days of the old telephone department, it will most likely curtail the slide in telecommunications revenue until the next wave in communication technology comes along.
  • Sasha Bravo on 25 Jan 13
     
    this article goes over the on going change of the types of telecommunication technologies Hotel guests are using. The article mentions the shift from the use of in-room phones and faxes, to the now popular use of internet connectivity. Mentioning how nowadays it actually costs hotels more money to offer phone services to guests than what they actually make from these services. lastly, it also talks about how more and more hotels are charging internet access fees in order to balance out the loss of revenue from telecommunication services.
anonymous

Technology: Accountancy systems for hotels and restaurants - 3/13/2006 - Caterer and Hotelkeeper - 1 views

www.caterersearch.com/...for-hotels-and-restaurants.htm

shared by anonymous on 18 Oct 12 - No Cached
  • The best course of action for smaller hotels and restaurants at present is to use generic accounting software for small businesses, populated with data from other specialist software packages designed for their specific sector. Hotels may find themselves using reservation data from property management systems, for example, while restaurants will want to use data from food and beverage control software packages to feed their accounting software.
  • It took hours and hours. On Sunday morning it now takes me half an hour.”
  • The best course of action for smaller hotels and restaurants at present is to use generic accounting software for small businesses, populated with data from other specialist software packages designed for their specific sector. Hotels may find themselves using reservation data from property management systems, for example, while restaurants will want to use data from food and beverage control software packages to feed their accounting software.
  • ...1 more annotation...
  • Restaurants need an accounting system that addresses issues like excess wastage on different product lines, and consumption of different products, rather than mere stock control. In hotels, accounting systems need to cope with everything from varying room rates, different ways of charging for phone calls, customer discounts, loyalty programmes and everything in between.
  • Minghui Zheng on 18 Oct 12
     
    Accountancy system is the necessary for both restaurants and hotels. Restaurants need an accounting system that addresses issues like excess wastage on different product lines, and consumption of different products, rather than mere stock control. In hotels, accounting systems need to cope with everything from varying room rates, different ways of charging for phone calls, customer discounts, loyalty programs and everything in between. Accounting system has following features. First, accounting system can back up data quickly and easily. Second, it has comprehensive reporting capabilities, which enable you to monitor ongoing trends within your business. Third, it is easy to use. The last one is automation. You should be able to automate common tasks such as producing invoices and running regular custom reports.
  • anonymous on 20 Oct 12
     
    The accounting systems are really different in restaurant and hospitality. but all of them are make work more and more easier and efficiency. In restaurant, the accounting system contain different product lines, the consumption of different products and stock control. In hotels, accounting system should contain varying room rates, defferent ways of charging for phone calls, customer discounts, loyalty programmes and so on. If the accounting system software is fit for your hotel or restaurant, it will save not only time but labor cost.
laura kaczkowski

Investing in Hotel Technology- Guest Needs Versus Franchise Demands - 1 views

www.tnooz.com/...needs-versus-franchise-demands

shared by laura kaczkowski on 25 Oct 12 - No Cached
  • How does a hotel owner follow franchisors brand standards, whilst managing potential conflict with guest needs and ensuring a good return on investment?
  • otel technology is one of the key areas in which conflict between individual owner/operators and franchisors crops up, with both sides very territorial over how much ground (and control) they yield to the other party.
  • By joining a major hotel chain, these individual owners benefit from the brand association they get from being under such a well-known corporate umbrella, broader consumer recognition, plus access to well-established centralised reservation and booking systems.
  • ...6 more annotations...
  • The big franchisors maintain that owners must follow their brand standards to the letter, a situation that inevitably leads to conflict over things like in-room technology. When it comes to investing in hotel technology, owners can be loathe to implement anything that doesn’t offer a good return on investment.
  • hotel owner said
  • “Property exit value is key. No ROI while the asset is in my ownership? No technology project.
  • Around the world, it’s David versus Goliath as franchisors are being challenged as to why certain standards are in place even though, more often than not, these investments have a negligible impact on the ability of the hotelier to bring in additional revenue.
  • While such examples may seem trivial, these are just the tip of the iceberg in the debate currently raging between franchisees and franchisors. Realising the bargaining power that these individual owners have when they speak together with one voice, some of the larger chains like Intercontinental have understood the situation and established owner association meetings in which franchisees can air grievances.
  • An industry forum promoting two-way communication is a step in the right direction and just one tactic among many to address what has become a difficult relationship between two mutually dependant parties.
  • laura kaczkowski on 25 Oct 12
     
    In the article "Investing in Hotel Technology- Guest Needs Versus Franchise Demands" it talks about how hotel owners follow brand standards while managing potential conflict with guests and are making sure they are getting their moneys worth on this investment. Technology is a huge part of hotels today, everything is done from the Internet and it even helps employees organize all of their information in an easy, user friendly way. Over the past years many hotel owners have opted to become franchisees of big name industries. "By joining a major hotel chain, these individual owners benefit from the brand association they get from being under such a well-known corporate umbrella, broader consumer recognition, plus access to well-established centralized reservation and booking systems." When hotel owners opt to become franchises of these bigger hotels they also give up their right to make certain decisions for their own hotel. Although this could be a downfall for the owner, "these investments have a negligible impact on the ability of the hotelier to bring in additional revenue," which is something that the hotel needs help with. Overall, when small hotels opt out and decide to become franchisees of big name hotels like the Hilton, it has both its advantages and disadvantages.
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