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Jing Huang

Property Management System- The Future of Hotel Industry - Tourism and Hospitality - Zimbio - 1 views

  • They work completely on the web and are based on the cloud.
  • It is the age of the Internet, the age when many businesses solely run on the Internet. From marketing to reaching new people, there is a lot that can be done with the help of this medium.
  • one of the major boons of Internet on the hotel industry has been the web based property management systems. Unlike previous applications which would burn a hole on the pockets, these online hotel software are user-friendly and do not need any additional hardware or software expenses. They work completely on the web and are based on the cloud.
    • Juan Du
       
      "Property Management System" play an important role in Hospitality management. Because the Internet plays a major role in improving the sales and customer relationship. The hotel need collect data to analyze the market and make the market plan. Property management system have a lot advantages. It is easy to make a reservation, the system can control the over booking. Use this system can keeping a check on the add-on services. Also PMS has its own system to operate the whole things. PMS is able to provide some basic function: enable guests to make reservations, enable guests to check-in/register when they arrive and check-out/pay when they leave, enable staff to maintain guest facilities. And it is easy to use, especially for employees.
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  • Property Management System- The Future of Hotel Industry
  • Property Management System- The Future of Hotel Industry
  • Property Management System- The Future of Hotel Industry
  • It is the age of the Internet, the age when many businesses solely run on the Internet. From marketing to reaching new people, there is a lot that can be done with the help of this medium
  • Central Reservation System: One of the greatest advantages of using an online hotel software is that you do not have any more headaches about reservations.
  •   Numerous Point of Sale: Keeping a check on the add-on services your hotel provides can easily be done with the help of the numerous points of sales.
  • Sales and Marketing Console: To help popularize your hotel and make it known to people from across the globe, many PMSs have a dedicated sales and marketing console.
  • Travel Agents and Corporate Clients:It is also important that you properly deal with travel agents and corporate clients as they play a very important role in bringing in more guests to the hotel.
  • Connected to 1000s of Travel Portals: These property management systems  help you get connected to many travel portals like Travelocity, Tripadvisor and Expedia helping you reach more people. 
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    This article particularly caught my attention because it points out the major advantages of web-based PMS, but it does not mention the risk of transfering such sensitive guest information over the unsecure and unregulated Internet. Surely there are great cost-related and operational advantages to web-based PMS and that alone often motivates hotels to upgrade in that general direction. Afterall, the reason why the hotel is operated is to generate revenues. However, is risking the identity of thousands of your guests worth the money you will save? That is what this article does not cover. As the title points out, web-based PMS is the future of the industry, but securing the identity of the biggest drivers behind all revenue for your hotel is arguably more important. Is the risk worth the reward? I believe the Internet needs to become a more secure highway of information before the industry can fully embrace this new technological advancement. My thoughts on considering an upgrade to web based PMS: Research and proceed with caution.
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    Karl- Valid point in saying is the "risk worth the reward", with all the viruses, glitches and hackers sensative information floating around in cyber world ready to be attacked and stolen. I feel its up to the cloud computing companies to set the security parameters to run their systems and for the industry to enforce them, so that we can embrace the growth of technology in hospitality.
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    This article shows a lot of advantages of using online hotel software. Better Reservation system can be found on a cloud based PMS. More factors of hotel can come out to be a famous feature when they all come online. Much easier for a hotel to deal with travel agents and corporate clients when they using a cloud-based PMS.  The cloud-base PMS can bring the hotel to more travel portals which will lead to more clients. 
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    This article focuses on the numerous advantages of a Property Management System. It summarizes the fact that it makes a business more proficient and how a company can save by not spending money on additional software or hardware expenses. The main benefits that this article gives attention to is the fact that it assists in the reservation process and point of sale process, helps market and target the correct people, positivity deals with travel agents, and connects to several travel portals. All in all, a Property Management System is a great tool and advantage in the hospitality industry because it facilitates in all operations and helps companies with daily challenges.
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    The hotel industry is crossing over to web based PMS and this article states that because it works off a cloud its less headaches and more user friendly. There are many reasons why a web based PMS can be beneficial and why the hotel industry is swithcing over. It can be used for multiple properties and reduce double booking. Another great feature is you can have numerous points of sales and it all interconnects. This is the future of our industry.
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    "Property Management System" play an important role in Hospitality management. Because the Internet plays a major role in improving the sales and customer relationship. The hotel need collect data to analyze the market and make the market plan. Property management system have a lot advantages. It is easy to make a reservation, the system can control the over booking. Use this system can keeping a check on the add-on services. Also PMS has its own system to operate the whole things. PMS is able to provide some basic function: enable guests to make reservations, enable guests to check-in/register when they arrive and check-out/pay when they leave, enable staff to maintain guest facilities. And it is easy to use, especially for employees.
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    This article indicated the importance of Internet for hotel industry and also assumed that web based property management systems will widely used in future. The author listed some advantages of web based property management system:1) Central Reservation System: One of the greatest advantages of using an online hotel software is that you do not have any more headaches about reservations.2)   Numerous Point of Sale: Keeping a check on the add-on services your hotel provides can easily be done with the help of the numerous points of sales.3) Sales and Marketing Console. With the help of this console, you can access the database of your customers get in touch with them notifying them of special offers and discounts. 4)Travel Agents and Corporate Clients:It is important that you properly deal with travel agents and corporate clients as they play a very important role in bringing in more guests to the hotel.5)   Connected to 1000s of Travel Portals: Web based PMS help you get connected to many travel portals like Travelocity, Tripadvisor and Expedia helping you reach more people. 
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    t is the age of the Internet, the age when many businesses solely run on the Internet. From marketing to reaching new people, there is a lot that can be done with the help of this medium. The hotel industry too is not insulated from its effect. Almost all kinds of hotels, from inns to bed and breakfasts to resorts, everyone is trying to tap the energies of the Internet and make optimum use of the medium. The Internet plays a major role in improving the sales and customer relationship.
Theodore Moore

POS: Emerging Technologies | HotelierMiddleEast.com - 3 views

  • increase revenue
  • New technologies can only enhance these qualities, so suppliers are quick to incorporate new technologies into their POS systems as soon as they emerge in a bid to stay ahead of the competition.
  • shifting towards empowering the customer through iPad-based interactive systems and kiosk-based self-service systems
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  • More importantly, a good POS system is capable of improving the efficiency of the F&B operation and increasing the productivity of employees.
  • A good POS system should let you focus on your customers, not your POS system,
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    This article discusses how new demand of customers within the hospitality industry is driving current point of sale systems such as micros to re-term their systems to focus more on customers. It includes several factors that are potentially driving POS systems to be revolutionized. The possibility of POS systems becoming more "from the palm of your hand" is growing each day as more POS systems are converging with wireless devices. As other outside factors influence hoteliers to emerge and update their POS systems, the development and progress of having the most profitable POS systems requires close examination of what works best for each company. One example the article touched on was the change from regular cashier systems to IPad based interactive systems and interactive kiosks. In addition, the enhancements of POS systems overall seem to be increasing F&B profit-a section of the financial statement that was historically less profitable. As with all technology, It is best to refrain from making a large capital investment into emerging systems, starting slow and monitoring how the bottom line is increasing and specific areas such as Room revenue or F&B revenue is the ideal choice.
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    *This article has 3 pages* Once you scroll to the bottom you select 2,3, and 4
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    Such a great article I forwarded it to my client. Working in the corporate food service industry, my location lacks the technology of a POS system. Yes, we still use a Sharp cash regristar which makes sales tracking nearly impossible. The potential to drive sales with the use of a POS system and other technologies that continue to develop would be of great benefit. A POS system that tracked, sales, comps, discount, high and low seller would be great from the management side but a cashless system or a intergrated CC machine would increase speed of service thus satisfying the customer.
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    Excellent Article! POS systems are becoming more user friendly than before. The systems allow companies to track revenue and inventory at the same time. The Walt Disney World Resort tested a POS system that allowed hotel guests to simply flash their room key and the charges would go directly into the POS system then PMS. Hotels have added POS systems to spas, recreation locations and retail stores...(http://www.restaurant.org/nra_news_blog/2012/04/pos-systems-must-accommodate-new-secure-payment-technology.cfm).
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    Theodore your article proves a great point on the benefits of POS technology. Having a POS system adds more value that will cover its initial cost. Handles greater product volumes. Makes complex business logic possible. Provides more management possibilities of your daily operations such as sales tracking, refunds, time clocks, menus, pricing, revenue maximization, etc.Provides advanced functionalities such as reservation and table management for restaurants, hotels, bars, and any business in the food service industry. Realizes enhanced savings with greater efficiency. Delivers better workflow for staff. Improves customer service and increases customer through-put. Easily manage large numbers of customers and groups. Allows restaurant businesses to combine multiple services into a single invoice (hotel room, meals, events, services). Graphical management of store assets such as table, rooms, bar, etc. Delivers superior reporting and analysis features. Streamlines inventory management. Back Office integration. The purpose of POS system is to accommodate your employees and your customers. If you have happy employees this results in customers having a smile. You have to spend money (POS SYSTEM) in order to make money.
Jordan Failing

Types Of Information Technology Used In Hospitality, Recreation & Tourism - 1 views

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    The hospitality industry can be extremely overwhelming if all departments are not in sink because one department depends on the other. In order to increase efficiency and service delivery various hardware and software systems have to be implemented. For example: an application for making hotel reservations which is used to check availability of rates and rooms could be NovaPlus from multi system incorporation. This program provides access for the guest and allows hotel management to modification accessibility to discounts on base rates. Another software needed in the hotel industry is the point of sale which the PlacePoint program can be used from multi system incorporation. In this program employee/guest can place orders in the menu and it is known to be structured as user friendly. One of the most important applications in the industry would be the Property management application which is where all the guest contact information, preferences, revenue management and room sales strategy are located. Overall there are a numerous of software and hardware necessary in order to run a hotel efficiently. From my own experience I have worked with 3 different PMS systems, Brilliant, Epitome and Opera, it just seems that after learning one system I find that it was better then the last one. As technology advances I have found that the more updated PMS systems like Opera , work much better and have facilitated my working environment and user friendly. Whatever the previous systems lacked in efficiency for the employee, the new system definitely gained.
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    The hospitality industry consists of a service industry that includes lodging restaurants event planning transportation and so on. It relies heavily on the availability of leisure time and disposable income. It all requires the aid of facility maintenance, direct operations, housekeepers, kitchen workers, etc in which they all serve the industry in different ways. So this program helps runs a hotel business for example a lot smoother for the guests and hotel management. These PMS programs although not always reliable if there were a power outage, are all well structured and efficient. Epitome for example is backed by highly effective training, may offer considerable value for money and is continued by ongoing support and assistance.
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    This article discusses the types of information Technology that is used in the Hospitality industry. These systems are needed, to make sure the business runs seamlessly without problem. Most of the systems rely on each other to run properly, and different departments need these systems in order to make the whole business work together efficiently. The essential Technology needed is Computer Software and hardware. Reservation Technology for booking guests. Property management application, POS Systems, and applications for Food and beverage and conference management.
Carl Miller

Biometric Technology Provides Savings And Security For Restaurants - QSR magazine - 0 views

  • “Biometrics provides an easy way for a server or a manager to be able to establish to the POS system their identity. It tells the system ‘I’m really here right now,’”
  • The most popular biometric devices used by restaurants arefingerprint and hand geometry readers.
  • “Imagine the savings if every employee is clocking in five or 10 minutes early every day
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  • “With the fingerprint sensors, it’s impossible for someone to log in as someone else,”
  • With biometrics, you’re able to ensure that the supervisors and managers are always involved in discounts and refunds.”
  • “We explain to employees that this is going to help them always get credit for every transaction they do,”
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    This article focuses on the cost savings a biometric fingerprint scanning POS can have on a restaurant. It eliminates employees from clocking in early and holds everyone accountable for what they do. It makes life easier for management since they can look at all the transaction data and know exactly who to talk to if something doesn't add up.  I think this is pretty cool software. It was less expensive than I would have guessed. The article said the average price for one of these systems is about $2,000. Depending on the restaurant, that can be a small or large amount but I think in the long run that is a small price to pay from a management point of view. 
Kevin Character

Management Software Partnership Brings Big Savings - 0 views

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    Last week, one of the leading web-based property management systems announced a partnership with the world's largest B2B deal community in order to save hotel owners and managers money. The partnership comes between management software company, Frontdesk Anywhere, and B2B services and software community, GroupPrice.com. It is a partnership that Frontdesk Anywhere founders are promising will allow managers and hotel owners to cut their costs and grow their business faster. Frontdesk Anywhere customers are getting a special discount of 15 percent off their first GroupPrice buy. Things like social media, PR, and video are being offered at the best deals through the partnership that should allow for increased revenue and profit. I believe the whole idea of software partnerships will continue to become more popular as the use of the Internet is becoming more widespread in the hospitality community. Packaging of several different services can increase productivity. Frontdesk Anywhere has reportedly managed hotel stays for more than 60,000 guests. This cloud-based software makes it simple to add other features, like combining other company software, in order to create the best experience for the business and the customer.
Caroline Hardenbergh

Travel agents evolving with online booking services | ZDNet - 0 views

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    Online self-service travel sites are significantly enhanced with service by traditional travel agents, such that TA's don't consider online service a competitive concern. This is due to the increased technological adeptness of todays TA's, as well as the exponential increase in travel options, multiple means of transportation, and especially due to the overload of tourism packages and special discounts. Liesure travelers simply don't have the patience to sift through the plethora of travel options and appreciate the personalized service provided by the TA who can tailor travel plans to fit their preferences. Corporate travelers use TAs to save time and to develop complex travel arrangements to keep pace of the dynamics of business opportunities. Every travel venue has its own unique and desirable features which are better obtained through local travel professionals who are thoroughly familiar with all aspects of the destination. Conversely, it is noted that web TAs don't experience competition as the strengths of the traditional TAs is packaged tours and personalized, yet limited travel options. Web agents make their profits through the sheer numbers of hotel properties world wide.
Kevona Richardson

Travel agents know something you don't - CNN.com - 0 views

  • In an age where travelers of all ages turn to the Internet to book flight and hotel reservations, modern travel agents are offering expert advice on cruises and tour packages to far-flung locales, advice on the best a particular city has to offer, exclusive perks, hidden discount prices and the security of an adviser in case of inconvenience or disaster.
  • Successful agents know that their customers have access to lots of travel information -- often too much -- and want time-saving guidance, exclusivity and security in a complicated world.
  • It's true that there are fewer U.S. travel agents today: 105,910 in 2010 versus 111,000 in 2006, according to the American Society of Travel Agents. And there are fewer agencies: 14,800 agencies in 2010, compared with 18,850 in 2006, according to ASTA.
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    Arthur & Alex Beach were onboard the Costa Concordia when it began to sink. They were taken from one place to another on bus and train, until they go to an airport outside of Rome where they were able to call their son to call their Travel Agent, Jackie Berube, where she helped them book a flight out the next day. Many people these days have access to the internet where they can look at the information themselves. There are also many people that would like to save the trouble and call a Travel Agency to help them find specific information. Although when the Economy isnt doing so well, they begin to drop Financially because people are traveling less. Travel agents used to rely heavily on a percentage of the price of an airline ticket, now they often charge flat fees for airline ticket purchases or creating a custom trip package.
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    Some travel agents has made a shift in the way they do business. Since most agencies have went out of business after airlines took away their commissions and consumers started to shop online, they had to start offering more service than the internet can provide.
Suqi Peng

Pizza Hut Franchisee Slices Payroll Fraud with Biometrics - 1 views

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    Pizza Hut deployed fingerprint biometrics as a part of their point of sales (POS) systems in 118 locations throughout East Coast in South Carolina, North Carolina, Kentucky, Tennessee and Virginia to reduce employee theft. Before installed the fingerprint reader, restaurant managers used simple ID number to authorize discount, overrides and voids. Moreover, employees also have their own ID number to clock in and out the payroll system. Because managers always need to share their authorization credentials with employees to fix some problems, some fraudulent employees use those credentials to steal money or check out early. By using fingerprint biometrics, restaurants' managers can eliminate the use of ID codes and accurately tying managers and cashiers to their actions.
Bing Liu

Florida Restaurant and Lodging - POS & Technology - Social Media Trifecta for Restaurants and Hotels Generate More Revenue, Builds Brand Loyalty - 0 views

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    This article talks about how social media helps hotels not only to promote their public image but also provide customers a two-way road of comments and suggestions about their stay. The three websites that are best suited for hotels are Facebook, Twitter and Foursquare. Using these resources a hotel can give its clients and potential guests the freedom to freely interact with the company itself. Facebook serves greatly to allow people to comment on their recent stay and provide feedback. Twitter enables the marketing department to promote deals and upcoming special events. Foursquare is a tool similar to reward accounts. People can check-in to Foursquare at the actual location and depending on a set amount of check-ins, a guest can be awarded with a discount or special arrangement, for example, a complimentary bottle of champagne can be offered for five check-ins. Social media is an always evolving tool that goes hand-in-hand with marketing advancements and the growing use of gadgets. Iphones, blackberries and tablets are present in almost every home of travelers and are heavily used to interact, find deals and leave reviews. Hotels that use this media weapon and its technology to the fullest are on the upper hand compared to their competitors that rely on traditional advertisements.
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    That is a good way for hotels and restaurants to invest more in social media. Almost all people have their facebook pages they can a lot of information from facebook. People talk about everything on the facebook and share their experiences with friends. If somebody is sharing his great hotel experience with friends, that would be like a great advertisement that does not requires much money and all friends would believe this advertisement more than others.
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    The social media is a good way to promote itself from word of month. It is an easy way to get the feedback from their customers, and improve itself. The hotel can become more competitive base on the social media because it contains the real evaluations from the previous customers rather than the unconvincing advertisement.
Jenna Wieland

Report: Hotel industry continues to show signs of recovery - 0 views

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    There's more good news for the hotel industry, according to a new analysis by advisory firm PwC. Based on statistics provided by Smith Travel Research and other research firms, PwC estimates that revenue per available room this year will increase by 6.5% and 5.6% next year.
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    The hospitality and tourism industry will unlikely ever see a full decline; people are always going to travel and vacation, they are just likely to go about it differently. So whats the solution? Hotel owners need to shift their focus from rates to value. For example, although a discounted rate might attract consumers, value is what drives the consumer to purchase and remain loyal. The industry can no longer rely on the fact that people want luxury in their lives and are going to travel because times have changed- today's consumer is much more conscientious about frivolous expenses.Now might be a better time than ever for students to earn hospitality degree and enter the field. There are more opportunites out there today than ever before.
Yunfan Wu

Was hotel marketing always this complicated? Part Two of Three - GDS consolidation and rise of OTAs - Tnooz - 0 views

  • These four GDS vendors controlled the marketing and distribution channel for the entire industry. They had market power and could impose higher fees at a whim on both the agent and airline. At the same time airlines sought ways to lower their distribution costs.
  • For the most part the hotel industry did not have the coordination or the moxie to fight like the airlines and simply paid the higher distribution fees and travel agent commissions.
  • But the larger effect was that the travel agency industry was shrinking; in a short period of time hotels saw their traditional distribution channels dry up. No longer were agents sending customers to the hotels.
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  • The arrival of the internet as a commercial device only accelerated the demise of the travel agency business. Of the nearly 40,000 independent travel agencies in existence, less than a third still exist today.
  • In 2001, the early years of our hospitality consultancy, general managers walked through our doors describing their online marketing strategy as “having a static online hotel brochure, email, and Expedia“.
  • The catchphrase “direct online distribution strategy” described the new world order in hospitality. Yet hotel managers were slow to embrace the idea that they would soon be entirely responsible for the marketing, sales, and distribution of their hotel inventory.
  • hotels locked themselves into OTA contracts that required steep discounts, ever-increasing inventory, and multi-year agreements. To this day OTAs resemble GDS-like oligopolistic behavior.
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    This article introduced how GDS controlled the whole industry in the last decades. Most airline companies and hotels use GDS and the traditional distribution channels and travel agencies dry up. But after 2001, things become different. Hotels need to do marketing and distribution by themselves to survive. But many of them are not professional, so they lock themselves into OTA contracts. They need reinvented hotel marketer by themselves. 
tstur005

Top 10 Hospitality Industry Trends in 2015 | By Robert Rauch - 0 views

    • tstur005
       
      New technology to check-in!
  • Innovative technology, mobile check-in, and seamless connectivity across platforms and devices are no longer the future, they are the present. Today, mobile apps are being used as everything from a digital concierge to accessing big data. Geo-location can make it easy to sell guests something that is literally right in front of them. In a recent survey by Software Advice, guests desired local restaurant and hotel restaurant discounts when looking for deals as well as maps with coupons for other deals. At our hotels, we use 1App, which sends guests deals to do everything related to eating, playing and shopping. Additionally, monitoring guest use of the Internet relative to bandwidth can provide a different data set, perhaps one that will drive down your ever increasing costs of providing ridiculous levels of said bandwidth. Most importantly, when looking at the face of a changing consumer today, technology innovation is paramount. As most have heard, Starwood and Hilton will be having guests check in via mobile phone in 2015.
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    #5 in this article explains how technology in checking into your hotel will speed up the process
mayr0604

POS Security: 4 Ways to Reduce Employee Theft in Your Restaurant - 0 views

  • According to the National Restaurant Association, employee theft accounts for about 75 percent of restaurants’ inventory losses; this equals more than three percent of annual sales
  • 1. Deploy video surveillance cameras and integrate them with your restaurant POS system.
  • Sweethearting” – offering free or deeply discounted food and beverages to friends or family – is another common act of employee theft.
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  • 2. Track and limit POS system access.
  • To control and keep tabs on who logs into your POS system and when, consider issuing magnetic stripe cards employees must successfully swipe through a magnetic stripe reader before they gain access to it
  • 3. Set different POS security levels in your restaurant POS software.
  • Using log-in information (e.g., records of magnetic card swipes and fingerprint submissions) should enable you to track every employee and transaction, heightening POS security by giving you the documentation necessary to hold employees and managers accountable for their actions.
  • 4. Conduct background investigations of prospective employees.
  • Additionally, run a criminal background check. Previous employers may not uncover problems with an individual to whom you’re considering offering a job. With a criminal record (or the lack of one) on the table, there’s no ambiguity.
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    Increasing POS Security is a must when confronting employee theft within the hospitality industry. The following article highlights four effective ways in which hospitality companies can reduce internal loss and more effectively manage their staff. 
Morgan Staley

Airlines vs GDS: is cooperation the way forward? | Travel Industry News & Conferences - EyeforTravel testing - 1 views

  • IAG-owned British Airways, Lufthansa, and Air France-KLM have all implemented a GDS fee.
  • The aim, of course, is to ensure that more bookings are made directly through the airline websites.
  • These branded fares represent an easy way to book a ticket with the desired amenities and they often offer a discount relative to purchasing the same amenities on an ala carte basis
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  • So today, the airlines and the GDS’s are both motivated to work together to increase the available content.
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    This article discusses the relationship between airlines and GDS corporations.  Airlines are going a different route to drive customers to book direct by tacking on additional fees to consumers for using the booking sources.  This came as a surprise to the GDS corporations and they have since been trying to work together with certain airlines to have the fee waived for using their site ie: expedia.  With so many add on options when booking flights, such as baggage, seat upgrades, and in flight entertainment, many GDS companies are working with airlines to offer bulk packaging on their sites as well to provide a bump in revenue for both industries.  If both industries continue to maintain a good working relationship the future will be bright for them. 
sbarr011

Changes to Accounting Standards to Impact the Hotel Industry - 0 views

  • In order to determine if revenue should be recognized on a “gross” or “net” basis, one needs to understand what flexibility the OTA has to discount the room rate, charge additional fees to a guest, or combine the room night in a package with other goods or services (e.g. flight, rental car) under the Merchant Model.
  • One of the changes to the accounting standards is on revenue recognition, specifically how revenues from Online Travel Agents (“OTA”) should be recognized. Currently, there are two models for the treatment of OTA revenues in the hotel industry:
  • Retail ModelGuest makes the reservation via the OTA but pays the hotel upon stay. Hotel remits commission to the OTA. Currently, the hotel recognizes revenue at the gross amount of cash collected (i.e. the total room rate), offset by a commission expense to the OTA. Revenue recognized through this model is typically recorded on a “gross” basis.
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  • Merchant ModelGuest makes the reservation via the OTA and pays the OTA up-front. The OTA remits cash, net of their commission to hotel. Currently, hotel recognizes revenue at the net amount of cash received (i.e. the total room rate less the OTA commission), hence revenue recognized through this model is typically recorded on a “net” basis, which means a lower amount of revenue is recognized than under the “gross” basis.
  • he new standard requires the party who is the principal in the sales transaction to record the revenue on a “gross” basis. How is the principal determined? An entity is the principal in a transaction if it controls the good or service before that good or service is transferred to the customer.
  • Since the hotel is primarily responsible for providing the stay, the OTA does not take any inventory risk, and the price of the hotel room is largely determined by the hotel, the new accounting standard would indicate that revenue recognized from the Retail Model and Merchant Model should be both recorded on a “gross” basis, whereas previously, the revenue from the Merchant Model was paid on a “net” basis.
  • significant to hotels, as this will increase the amount of costs which are calculated as a percentage of revenues (e.g., credit card fees, management and franchise fees, sales taxes).
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    Beginning in 2018 the financial accounting standards for hotel business are changing. One of the changes is the way OTAs charge for the rooms. Typically the OTAs operate under two methods the retail model and merchant model. The retail model uses the OTA to reserve the room but the final payment is made to the hotel. The hotel then gives a commission back to the OTA. Under The merchant model the payment is made to the OTA. Then the OTA takes the commission off and sends the remaining payment to the hotel for the price of the room. This comes out as a net transaction. The new standard is saying that the company that controls the transaction for the room has to mark the transaction or sale as a gross transaction. The new model forces the hotels to record the transaction on a gross basis. This can be a big difference for hotels because now they will have to increase the amount of costs and reduce the hotels bottom line.
csendra004

Airbnb's New Events Tool Is a Major Missed Opportunity – Skift - 0 views

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    MOD 11: This article is about Airbnb starting to penetrate the events and meetings sector of the hospitality industry. While their involvement is very minimal, Airbnb has offered booking accommodations for events nearby. Recently, Airbnb released a booking tool for meeting planners to showcase some of the Airbnb properties that would be nearby the event space. Airbnb's involvement in this new release would only be to provide economical accommodations for nearby events, the website wouldn't be used to provide specific details about the event. This new release of technology with Airbnb is very easy to use and almost anyone can look up potential trips using the tab Airbnb for Events on their website. There are some challenges that can occur with this new release, some being that meeting planners won't be able to negotiate discounts, nor will they be receiving commissions for people who book with Airbnb for Events. Also these Airbnb accommodations may not meet the expectations of the attendees for the event since they're use to staying in a clean-cut hotel room.
chinneegyyal

Mobility and the Hotel Property Management System - StayNTouch - 0 views

  • Systems and technologies that hotels require to operate their business have, at times, been the malevolent force behind the epidemic of guest experience complacency.
  • This is definitely not the optimal way to run a hotel or exceed service expectations
  • The implementation of a “New Way to Hotel” platform is the only means by which hotels can keep pace with the new and ever-changing requirements of today’s travelers.
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  • Innovation now enables us to run an entire system (or many systems) using wireless tablets as the main hardware interface
  • The key is building relationships with the guests on a personal level.
  • but does this mean they are loyal to the hotel chain? No,
  • We, as an industry, have been extremely complacent when it comes to ensuring that our guests feel as if they are genuinely experiencing the best service possible
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    This article touches upon the importance of being versatile and modern in the Hospitality Industry. Mobility is the key to creating meaningful relationships with customers that will make them want to return to your location. They will want to return not only for things like rewards and discounts, but because they genuinely like to stay the duration of their trip at your hotel. To help aid this, things like mobile PMS Systems are becoming more widely used. The front desk agent doesn't have to stay at the front desk anymore, they can walk freely within the lobby and interact with guests all while having access to their PMS System. The same goes for other team members who usually stay behind the scenes, they're more accessible to the guest which creates better bonds. It was said that mobility is the key to engaging employees with the guests, this is because any employee is able to step out of their primary duties and enter/ take information from other departments within the hotel. It's not conducive for a hotel to run all systems from one central location, instead using a system on an ipad or portable device yields the greatest outcome. It allows each department to work together towards a common goal. Just because someone is in housekeeping doesn't mean a guest won't put in a front desk related request, this system allows all departments to flow as on. This software can help bring a hotels customer satisfaction rates to a new level.
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    This article is about mobility in the hotel and travel world. The mobility focuses on the guest experience and making it easier for guest. Systems and technologies that inns require to work their business have, now and again, been the noxious power behind the scourge of visitor encounter lack of concern. In the event that the framework expects you to be stuck behind a front work area or utilize some out of date telephone framework to refresh the status of a room, at that point, shockingly, the worker is just doing as best as the framework can convey. Today, the majority of the introduced property administration frameworks require a front work area, just like the case with purpose of offer.
agarc521

Digital Technologies Transforming the Hospitality Industry - Future of work - 6 views

  • Our travel preferences are changing these days. We have started to look out for more casual local experiences - learning about the culture and interacting with local people as part of our vacation (think AirBnB’s success). This is especially true with millennials- who crave authentic and unique experiences as 78 % of millennials prefer to learn something new when travelling. The proliferation of digital consumer hardware and software have also raised the bar. Travelers are now expecting more value and enriched experience from their travel journeys.  
  • The result, a number of companies in the hospitality industry are embracing new technologies to provide value add experiences to keep pace with growing expectations. In this respect, the following key trends are emerging:
  • 1. Personalization by using predictive analytics:
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  • 2. Integrating wearable technology and sensors:
  • 3. Providing rich travel related multimedia content:
  • 4. Leveraging social media:
  • 5. Artificial Intelligence:
  •  
    Traveling is becoming a popular trend. People love to visit new locations around the world and are expecting a high quality level of technology. The more people travel, the higher their expectations become. The new technology trends being offered in the hospitality industry include wearable technology and sensors. Guests are able to check in and have a key-less room entry with an apple watch or something similar. Rooms are equipped with sensors for lights, an app to adjust room temperature as desired, TV voice recognition, digital news papers, and much more. Another important aspect of technology in the hospitality industry is providing rich travel related multimedia content. People like to use apps or websites such as Yelp, Youtube, or trip advisor to offer travelers suggestions and real life user experiences and reviews. Thus, providing such brands a way to create significant relationships with their current and future customers. Hotels encourage their guests to use social media to share their experiences. Yelp and swarm allows people to check-in and be rewarded for visiting the locations, by offering a complimentary cocktail, appetizer, and so on. In addition, Hotels encourage their guests to hashtag their stay. Robots are entering the hospitality industry, from serving foods, carrying luggage, and acting as hotel receptionists. You will be able to find this in the Henn-na Hotel in Japan.
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    Brands can now differentiate themselves from their competitors through the effectiveness of digital technologies such as sensors, robotics and mobile which provide a unique experience for customers. Sandals for example, uses key card sensors to door guest doors and customers are able to control the smart TV programs with an app on their phone. In addition, we uses a predictive system to monitor our rooms forecast as it relates to travel booking per month / year. The article focuses on five common trends: 1. Personalization by using predictive analytics: One example is Kayak, a travel booking site that uses the predictive analytics for their price forecast. 2. Integrating wearable technology and sensors: Hilton Worldwide and Starwood Hotels integrated Apple Watch in their business operation to enable mobile check-in, keyless room entry and special request. 3. Providing rich travel related multimedia content: Customers are able to review valuable information about their destination through various social channels such as YouTube, Instagram, Twitter, blogs and other websites. 4. Leveraging social media: Social media channels are allowing customers to share their stay experience at a resort and plus give rewards points and discount offers. Marriott Hotels for example, has a PlusPoint reward system. (https://sourceable.net/hotel-design-trends-for-millennial-guests/) 5. Artificial Intelligence: Businesses are using Anybots and Roboceptionist to replace receptionists. (http://www.otrams.com/blog/innovations/artificial-intelligence-in-hospitality-industry/).
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    This article written by Sharma, is providing a brief explanation of how new technology is taking over the hotel industry. From Apple watch room entry, to robots now taking over luggage and receptionist duties, technology is quickly becoming the essence of the hotel industry. Having a successful hotel is now measured by the level of technology associated with that hotel.
tgore002

10 Must Have Features of A Property Management System - Financesonline.com - 0 views

  • A calendar allows property owners, managers, and employees to visualize their reservations and availability in different ways.
  • A good property management system will allow you to create rate plans and derived rate plans and then easily assign them to reservations.
  • robust reporting module built in.
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  • Distribution is one of the major ways that small to medium-sized properties can compete with large hotel brands. Channel managers have become common and relatively cheap over the past few year
  • Online distribution channels that can bring more business to your property are great, but they come at a cost. And sometimes, that cost is significant as commission percentages increase. However, if a traveler has found their way to your website, you deserve to capture their direct booking.
  • sell the most sought after room types to the people who want them at the right time.
  • Email marketing is still very much alive and you can use your previous guests emails to keep in touch about local happenings, discounts, and other important information.
  • Accepting and modifying reservations becomes easy and seamless with a point of sale integration.
  • Pricing intelligence is the process of collecting and acting upon real-time consumer and competitor activity.
  • ost properties need some sort of POS to manage payments for their bar, restaurant, small store, etc.
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    This article talks about important features that a property Management System need to have. The most important features are the following: A drag and drop calendar which will help managers to visualize reservation and availability. Rate plan management will help to create a rate plan and have them easily applied to reservation. Integrated channel manager since it is important for hotels to be able to join as many available channels a possible to make more sales. Reporting is also very important to be able to track performance real time and keep control of the health of the company. Another key important feature is shared inventory and direct booking support since if customers can book directly from the properties website the hotel will avoid paying commissions. The customer data base is great for marketing and to create loyal customers. The last features that a property management system should have are pricing intelligence, point of sale and the ability to track other revenues services from other services that are offered in the property. A PMS system that has all these features will help a company run the property very well. I would add a good customer support because if this system goes down basically the hotel cannot do anything so I think it is very important that if it is not working for any reason that it has be fixed very fast so that it does not affect customer relations.
clonyr

The Importance of Website Personalization for Hoteliers | By Trish Leighton - Hospitality Net - 2 views

  • Personalization is all the rage in the travel industry, right now. Today's marketers have plenty of opportunity to personalize their
  • customer's online experience.
  •  According to New Epsilon research, 87% of consumers say they are more likely to do business with travel websites and/or apps that offer personalized experiences but say only 64% of travel sites are doing i
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  • well.
  • A recent consumer report by Harvard Business Review found that two-thirds of consumers remain loyal to a brand because they feel they share similar values.
  • Remarketing to return visitors could include things like loyalty program offers, room upgrades, return discounts, etc. Engaging consumers with remarketing tactics require content that is attention grabbing and urges them to convert.
  •  
    The importance of personalization for hotel guests is becoming increasingly popular in the travel industry and a simple step to improve direct conversions. You will learn about how to create a unique experience for hotel guests, mapping your target audience and crafting personalized campaigns for your target audience.
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    As per the article, I agree that personalization & the development of unique experiences will be driving factors within the industry moving forward. The hospitality industry has some catching up to do here as well.
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    The personalization or customization of the guest experience is extremely high in demand within the hospitality industry. It will be very interesting to see how hotels in particular are able to accommodate this new trend. It is important that the industry finds eco-friendly ways to address these needs. So hotels do not create additional, waste, since the product is 100% personalized for each guest.
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