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Expanding global footprint with accounting software for hotels - 0 views

www.4hoteliers.com/4hots_nshw.php
shared by Hana Musilova on 18 Sep 12 - No Cached
  • What should hotels look for in their financial management system then?Handling currency complexity
  • Handling multiple languages
  • Handling multiple entities
  • ...19 more annotations...
  • Supporting multiple charts of accounts
  • Handling multiple calendars
  • Handling tax complexities
  • Reporting using multiple accounting standards
  • Supporting different levels of corporate reporting
  • Supporting global access
  • In the increasingly volatile and regulation-filled business world, the ability to adapt is of utmost importance;
  • During the transition, many hotels might find themselves trying to avoid incurring costs and disruptions by sticking with their existing accounting software.
  • Moreover, different countries have different units of measurements and formats, which need to be reported as well. Hence, it is vital that hotels’ financial management software can handle all of these.
  • Rapid globalisation means that hotels are likely to report in more than one currency. Thus it would be a tremendous help if hotel accounting software can handle multiple currencies.
  • Nonetheless, if businesses do not conduct comprehensive evaluation of their needs and software capabilities, they may well end up paying more than they could save.
  • A hotel chain with various branches in different countries or jurisdictions has the extra workload that entails complexity.
  • a hotel financial management system should be capable of consolidating results from discrete entities for statutory reporting and tax purposes.
  • The rigid approach of a single chart of accounts is especially unsuitable for companies with different lines of businesses, those in joint-venture arrangements or those acquiring businesses in different countries.
  • It is a fact that businesses around the world do not operate on the same fiscal year. To save time from having to recast figures into different calendars, hotels with multinational operations should implement a financial management system that can create local, regional and consolidated reports as needed for management or statutory purposes.
  • For hotels operating in various countries, their accounting software should be able to handle the complexities associated with different tax regulations and help defending tax audits.
  • GAAP, IFRS and local accounting standards require different accounting treatments. Thus, accounting software for hotels should allow different books for recording transactions under these various accounting rules.
  • A multinational hotel’s accounting system should be able to create a consolidated headquarters view as well a consolidated statement of several subsidiaries at an intermediate level.
  • Financial management software that allows web-based access can help hotels avoid incurring costs from installing the system individually at all branches or at branches with limited on-premise support. Having a system that can be installed locally, deployed centrally and accessed globally gives hotels a competitive advantage without compromising security and reliability.
  • Jenna Rashbaum on 18 Sep 12
     
    Many hotels may want to chance their accounting systems but at the same time are trying to avoid all of the new costs and possible disruptions that come with a new system. By staying with their old systems though it could end up costing them more money in the long run if the system decides to just stop working and then you lose all of your data.
  • ...1 more comment...
  • Jenna Rashbaum on 18 Sep 12
     
    Any hospitality organization should look for all of these things when considering a new financial management system. It might end up being more expensive but in the long run will end up saving the company lots of money.
  • anonymous on 11 Feb 13
     
    This article describes what basic capabilities an accounting software for a hotel who is trying to expand globally should have. As well know, it is very important for a company to be able to adapt to changing times. Hotels are an industry that is constantly facing challenges, especially when trying to expand globally. This article gives some very important tips on what hotels should looks for when putting their financial management system in place. For example, expanding globally means a hotel would have to handle different currencies at one time. This is somewhat of a complex task for a company who is new to the global arena. Hotels should make sure to have a system that would make following different sets of accounting and business rules easier for the company. Another example is hotels should have a system that is able to utilize multiple accounting standards. "GAAP, IFRS and local accounting standards require different accounting treatments", therefore, software for hotels should be able to accommodate these variations.
  • Hana Musilova on 03 Mar 13
     
    I found this article very interesting as it discusses various aspects that a financial system should have in order to provide the most accurate and timely financial reports and analysis to help hotels to be more efficient and increase profit. According to the article, as all the hotels are evolving and changing at all times and the financial system has to be able to keep up with all the changes. One of the few things a financial management system should be able to do is to handle currency complexity and make sure that the hotel's accounting system can handle multiple currencies. A good financial system should also be able to handle multiple different languages for employees with different language backgrounds and also units of measurements and formats. The system also needs to be able to support multiple charts of accounts. According to Ventana Research 2011, "maintaining multiple charts of accounts may prove to be both simpler in the long run and more productive." Another important aspect of a good financial system it to handle tax complexities for hotels operating in various countries. The accounting software should be able to "handle complexities associated with different tax regulations and help defending tax audits." The last important fact it that the software should web based therefore accessible from anywhere and anytime. I find the last one the most important one as our technology and our PMS are moving into cloud based systems, it is curial that we are moving in the right direction with all of our systems and have them synchronized.
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Technology: Accountancy systems for hotels and restaurants - 3/13/2006 - Caterer and Ho... - 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.
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Expanding global footprint with accounting software for hotels. ~ Friday, 13th July 201... - 0 views

www.4hoteliers.com/...10212
shared by acarter001 on 08 Feb 17 - No Cached
  • What should hotels look for in their financial management system then?Handling currency complexityRapid globalisation means that hotels are likely to report in more than one currency. Thus it would be a tremendous help if hotel accounting software can handle multiple currencies. However, it is worth noting that currency translation is not as simple as it looks. Complexity arises when different categories of exchange rates are required depending on circumstances. This is especially problematic when hotels have to follow more than one set of accounting and business rules. Handling multiple languagesEven though English is the default business language globally, it is not necessarily the case that everyone in an organisation grasps all English terminology and statutory reports, especially those that handle day-to-day operations. They are more likely to do the work in their own language. Moreover, different countries have different units of measurements and formats, which need to be reported as well. Hence, it is vital that hotels’ financial management software can handle all of these. Handling multiple entitiesA hotel chain with various branches in different countries or jurisdictions has the extra workload that entails complexity. As a helping tool, a hotel financial management system should be capable of consolidating results from discrete entities for statutory reporting and tax purposes. In other words, it should help the mother company and its subsidiaries keeping track of one another’s financials without interfering with their various legal structures.Supporting multiple charts of accountsAccording to Ventana Research 2011, “maintaining multiple charts of accounts may prove to be both simpler in the long run and more productive” despite some saying that it is best to have one chart of accounts only. The rigid approach of a single chart of accounts is especially unsuitable for companies with different lines of businesses, those in joint-venture arrangements or those acquiring businesses in different countries. Thus, accounting software for hotels should be able to handle simultaneous charts of accounts.Handling multiple calendarsIt is a fact that businesses around the world do not operate on the same fiscal year. To save time from having to recast figures into different calendars, hotels with multinational operations should implement a financial management system that can create local, regional and consolidated reports as needed for management or statutory purposes.Handling tax complexitiesFor hotels operating in various countries, their accounting software should be able to handle the complexities associated with different tax regulations and help defending tax audits. Apart from addressing issues such as multiple entities, charts of accounts, calendars and depreciation schedules, their system should be configured to be tax-aware. In other words, it should provide hotels with automated maintenance of rules and rates.Reporting using multiple accounting standardsGAAP, IFRS and local accounting standards require different accounting treatments. Thus, accounting software for hotels should allow different books for recording transactions under these various accounting rules. Automating the process from closing these books to creating financial statements and reports using multiple accounting standards also helps hotels save time and effort without risks of errors.Supporting different levels of corporate reportingA multinational hotel’s accounting system should be able to create a consolidated headquarters view as well a consolidated statement of several subsidiaries at an intermediate level. Management should be able to view and analyse these reports right at the source.Supporting global accessFinancial management software that allows web-based access can help hotels avoid incurring costs from installing the system individually at all branches or at branches with limited on-premise support. Having a system that can be installed locally, deployed centrally and accessed globally gives hotels a competitive advantage without compromising security and reliability.
  • acarter001 on 08 Feb 17
     
    It is interesting to see in this article that investing in the proper accounting software in the hospitality saves the hotels more money. You would not think about the time lost by the accounting department simply by correcting errors. This article states that there are also several things that should be required of accounting software to ensure overall productivity. Interestingly, one of the most important aspects that I had not thought of is the need to handle multiple languages. By doing this, you are allowing users to enter data in their own language and be more productive.
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2013: The year of three-screen hospitality - 0 views

www.hotelnewsnow.com/...ar-of-three-screen-hospitality hospitality; technology software tech hotel
shared by Frances Mesa on 05 Jun 13 - No Cached
  • Industry experts have projected staggering growth rates in leisure and unmanaged business travel bookings via the mobile channel: from $753 million in 2011 to $1.4 million in 2012, according to PhoCusWright research.
  • And yet, a careful analysis of all the industry stats and projections reveals a very interesting picture that not all hoteliers fully understand: The majority of the mobile bookings, roomnights and revenue are generated by tablet devices, not by smartphones.
  • Three distinct device categories constitute the three screens to which hoteliers should pay special attention in 2013: desktop, mobile and tablet.
  • ...6 more annotations...
  • For all practical purposes, the desktop, mobile device and tablet all address different needs at different times of the day and week.
  • Google also reports different search dynamics across the three device/channel categories and a dramatic increase in hotel queries in the mobile and tablet channels.
  • 2013: The year of three-screen hospitality Google projects an overall increase in number of search queries by 24% in 2013, but search data differs dramatically across the three device categories. Searches from mobile devices will experience an increase of 68%, while searches from tablets will increase by more than 180%. Desktop searches will experience a decline of 4%.
  • 2013: The year of three-screen hospitality Google projects an overall increase in number of search queries by 24% in 2013, but search data differs dramatically across the three device categories. Searches from mobile devices will experience an increase of 68%, while searches from tablets will increase by more than 180%. Desktop searches will experience a decline of 4%.
  • Hotel marketers should consider either enhancing their desktop website for the touch-screen tablet environment or building a tablet-only version of their website in addition to their desktop and mobile sites, which all should be managed via a single digital content depository-enabled content management system
  • Hotel marketers should consider either enhancing their desktop website for the touch-screen tablet environment or building a tablet-only version of their website in addition to their desktop and mobile sites, which all should be managed via a single digital content depository-enabled content management system
  • Frances Mesa on 05 Jun 13
     
    Three screen hospitality: Desktop, Mobile phones and tablet. All three channels must be integrated in the hotel's multi-channel marketing strategy.
  • Frances Mesa on 06 Jun 13
     
    This article was about the three-screen in hospitality: desktop, mobile phones and tablets. As technology progresses hotel marketers have to keep up with all the new technology to keep their future guest happy and satisfied. Nowadays, future guests can book through their desktop or mobile phone or tablet. Therefore, hotels have to improve their websites so guest can access the website through the different three devices. There are different content needs- Each device has to meet different needs and different user intent- Each device is used for different situations, like mobile phones vs Tables to book a hotel (entering your credit card information). Lastly, Mobile vs. Tablet connectivity- tablet needs a Wi-Fi connection and mobile devices use telecommunication carriers.
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What's global distribution system? - 5 views

www.programming-pool.com/...lobal-distribution-system.html GDS hospitality
shared by Hui Chen on 19 May 12 - No Cached
  • A global distribution system (GDS) represents a computerized system used for managing different transactions within the air travel and hospitality industry. At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • ...21 more annotations...
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • However, due to the fact that GDS’ were originally created to distribute plane tickets, their database structure was specifically designed to store information about this product.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and mor
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved.
  • However, due to the fact that GDS’ were originally created to distribute plane tickets, their database structure was specifically designed to store information about this product.
  • At first, GDS’ were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a direct consequence to this fact, GDS’ were also implemented for hospitality industry use.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • As mentioned before, one of the first products distributed by GDS was hotel accommodation. Hotels have loaded the information related to their different types of rooms, description and price categories within the airline reservation system database. When this information became available online, thousand of clients started making bookings all around the world. This fact was advantageous for each participant. Hotels benefited from distributing their products to a larger audience, travel agencies had the opportunity of booking more products through their computerized system and GDS benefited from a growth in booking volume, which helped them to lower operating costs.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • The first major impact that GDS had on the travel market was that the number of flights was increased. This led to an increase of competition and therefore travel industry prices fell. Travel agencies were accustomed with receiving a fixed fee (usually 10%) from everything they managed to sell, so once the prices started to fall, they felt threatened with the loss of their earnings. In order to counter this, travel agencies began to offer complimentary products such as car rental, hotel and other related forms of accommodation, bus tickets, vacation packages, yacht rides and even flowers and champagne. This was the first major step towards GDS’ being used within the hospitality industry.
  • Nowadays global distribution systems interconnect almost everything within the hospitality industry, from hotels to car rental companies and travel agencies. There are four major GDS available: Amadeus, Galileo, Sabre and WorldSpan. Some of the advantages provided by GDS are their availability (99,9% of the time), their response times (up to a fraction of a second), their multiple booking capability, as well as their top of the line architecture. On any given day, a GDS will be capable of accessing over 50000 hotels and approximately 1000 airlines. Through GDS systems, people are able to book various hotel rooms, tours, airline seats, cruises and even limousines.
  • The working idea behind a GDS is this: any GDS provides services to an electronic shop for all information related to travel and reservation-related needs. In other words, the GDS has become a very important distribution channel for any product sold through travel agencies. Basically, if a vendor wants to be sold through travel agents, he must be listed on a GDS
  • Hyeyoung Jang on 19 May 12
     
    The first products distributed by GDS was hotel lodging reservation system, such as different types of rooms, description and price categories with the airline system. GDS has been increased on the travel market, such as number of flights. Travel Agencies (TA) also use GDS to offer complimentary products, such as car rental, hotel and other related forms of accommodation, bus tickets, vacation tickets, yacht rides and even flowers and champagne,That means, GDS has become more important distribution channel for nay product through TA. Also TA had more opportunity of more products their own system and GDS system from increase number of booking volume with lower operating costs. It was the first and major goals of GDS being used in the hospitality industry. Even though hopitality ingustry use GDS system, there are few problems, such as show only simple structure. For example, there are 4 different kinds od room and 3 categories od comfort, it means they have 12 different kinds of combination. Because of the GDS database structure, only there 12 combination could be displayed. It took a while to fit all the multiple types of comport rates, rooms and services in GDS standard database structure. Instead of choosing GDS system, they cans choose other alternative system with develop several computerized system to make a database structure closer to product specification. Nowadays, GDS using all of the hospitality industry from reservation hotel rooms to car rentals and Travel Agencies. Through GDS as globally, people are able to to book different kinds of hotel rooms in different destination all around the world, tours, airline seats, cruises and eeve limousines.
  • ...2 more comments...
  • Casrine Kelly on 15 Jul 12
     
    Global Distribution System were develop and meant only for the airline reservations. The impact of the GDS on the travel industry is that it increase competition, more flights were available and this reduce cost. With the increase and cost reduction travel agents start to see decrease in their earnings they received from airline sales, so with the GDS they were able to book other services such as hotels and car rentals with airline reservations. With GDS it is much easier and convenient to make a reservation from flight, hotel and car rental because everything is link together.
  • Irine Wallace on 03 Sep 12
     
    Summary of a global distribution system (GDS) A global distribution system (GDS) represents a computerized system used for managing different transactions within the air travel and hospitality industry. Historically, GDS' were only meant for the air travel reservations but as years have passed, GDS systems became more and more evolved. As a result, GDS' are now implemented for hospitality industry as whole. The first major impact that GDS had on the travel market was that the number of flights increased which led to increase competition among the players and this brought down the overall prices. The main purpose of a GDS is to provide services to an electronic shop for all information related to travel and reservation-related needs and one of the first products distributed by GDS was hotel accommodation. Hotels throughout the market uploaded the information related to their different types of rooms, description and price categories within the airline reservation system database. When this information became available online, thousands of clients started making bookings all around the world. This fact was advantageous for each participant. Hotels provided GDS with a challenge of fitting all the different sizes, styles, amenities, and etc. It took a while to fit all the multiple types of comfort rates, rooms and services in a GDS standardized database structure. A general strategy was therefore needed. Rather than loading hotel products inside the GDS, the accepted solution was to develop several computerized systems with a database structure closer to product specifications. Nowadays global distribution systems interconnect almost everything within the hospitality industry, from hotels to car rental companies and travel agencies. There are four major GDS available: Amadeus, Galileo, Sabre and WorldSpan.
  • cbespinel on 12 Sep 12
     
    Looking at these numbers it becomes very clear how important GDS are to the hospitality industry, more rooms booked means increased revenues and more jobs for hospitality professionals. I am sure that this technology will evolve and transform so it is important to stay current and understand how to get the most out of it.
  • Hui Chen on 16 Sep 12
     
    What's global distribution system? This question is kind of cliché in our group, but this article gives a very good introduction about GDS and it's quite easy to understand comparing to many other articles introducing GDS. This article tells us: How GDS develops from being used only in airline industry to being generally adopted in hospitality industry; What is the working idea behind the GDS; Four major GDS including Amadeus, Galileo, Sabre and Worldspan; Advantages provided by GDS.
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Human Resource Management in the Hospitality Industry - The WritePass Journal : The Wri... - 0 views

writepass.com/...human-resource-management technology hospitality hotel software HRIS
shared by angelicamm6 on 27 Nov 19 - No Cached
  • After going through the document it is being realized that since hospitality industry is about providing better services to the consumers, therefore the quality of the hotel depends upon the labor force working in the hotels
  • The most important task for the HR manager is to get the most appropriate people for particular task, since in hotel industry, many workers tend to just participate in the work, as they think that there is nothing else to do, whereas hotel services require proactive employees which can make decision on the spot and can satisfy the customer query in time
  • In more critical aspect which can be realized is that since hospitality industry, the management need to handle the customers coming from different countries having different cultures and unique attributes, that’s what makes the HR department to have a broader perspective of duties in the Hospitality industry.
  • ...11 more annotations...
  • Importance of Culture in International Hospitality Industry:
  • Social Structure:
  • Effects of Culture on Hospitality Industry:
  • Education:
  • Language:
  • Economics:
  • Interests and Values: HR manager has to realize tha
  • Consumer Behavior:
  • Job Description:
  • Policies and Procedures: 
  • Inductions Process:
  • angelicamm6 on 27 Nov 19
     
    This articles discusses the importance of having an HRIS in place and knowing how to cope with it by having different staff members. Most hospitality business have a lot of multi cultural people that come from different background and speak different languages and have different believes. The key importance of HR is to make sure all feel welcomed and are being integrated properly into the work space. By feeling a safe workspace staff members do a better job and work with more moral.
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Online Marketing: Future Challenges for Hotels, by Kristie Willmott - 0 views

hotelexecutive.com/...g-future-challenges-for-hotels
shared by Sherine Mattison on 17 Nov 12 - No Cached
  • At first glance, transparency puts marketers at a tremendous disadvantage. Before the Internet, we could communicate our message through "one-way" media - newspaper and magazine advertising, for example, which consumers received but could not interact with. Opinions about us were largely limited to a handful of "critics" and travel writers. No longer; our critics can now be ubiquitous. But, in fact, this democratization of opinion has an upside if we use online marketing wisely. This is because the sheer number of comments and opinions on sites like TripAdvisor means that the truth about us will come to the surface; there are simply too many independent opinions to manipulate or distort the message unfairly. So, looking ahead, what do we need to do in order to master this transparent "brave new world?" First, we need to market to individuals, not groups. Much has been made of the importance of "generational marketing" and the need to target specific demographic groups. And, there is no doubt that different generations behave differently. Baby Boomers, we are told, search the Web less but send more email than Gen Y. Gen Y will continue to affect older and younger generations through its wholehearted embrace of all things digital. We have a worldwide aging population that has its own needs when it comes to online marketing, including things as simple as being able to read a computer screen. Many countries are already wrestling with issues of discrimination in regards to the digital age.
  • Sherine Mattison on 17 Nov 12
     
    Customers at one time used to receive information about a business/ product through a media where there used to be no interaction. With the use of emarketing businesses have become more transparent. So for the future marketing needs to be done to individuals and not groups. " Much has been made of the importance of generational marketing and the need to target specific demographic groups." This is due to the fact that different generations behave differently and use the web differently. " We have a worldwid aging population that has its own needs when it comes to online marketing."
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DailyTech - Hilton Hotels to Use Unreal Engine 3 for Employee Training - 0 views

www.dailytech.com/...article10501.htm training hilton software tech
shared by Lu Zhang on 19 Jan 13 - No Cached
  • Ultimate Team Play puts hotel team members in various scenarios aimed to replicate real guest situations. Users will have to decide what the best course of action will be to fulfill a guest’s request and complete a specific job task within a limited time. Their immediate or non-immediate actions toward guests will directly affect the mood of the guest as well as the hotel’s SALT (Satisfaction and Loyalty Tracking) scores.
  • Lu Zhang on 19 Jan 13
     
    This software called Ultimate Team Play is used in Hilton Garden Inn to do the employee training. The Ultimate Team Play presents a virtual scene of front desk for employee. The virtual guests will show different reaction toward to different service from the employees. The SALT( Satisfaction and Loyalty Tracking) score is a very important factor that reflect the service quality of the hotels. The employee may select different level of guest interaction and study the specific requirement of each level of guests so that learn about how to serve different guest to develop guests' SALT.
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HFTP Begins Development of a Global Hospitality Accounting System Users Guide - 1 views

www.hftp.org/...NewsPressContent.aspx accounting technology
shared by Yue Li (3011472) on 01 Mar 12 - No Cached
  • "We are the only global association dedicated to hospitality finance and technology
  • To create a global resource for the hospitality finance industry, Hospitality Financial and Technology Professionals (HFTP®) has begun development on a global hospitality accounting system users guide.
  • The global guide will provide the industry with a comprehensive glossary of inventory terminology, charts of accounts and will benchmark common allocation for specific regions of the world. The project is planned as a three step process:
  • ...1 more annotation...
  • HFTP is working with members of several organizations including, EHL, HFTP's Research Institute at the University of Houston, Hong Kong Polytechnic University and Hospitality Professionals Association (HOSPA).
  • boyan yuan on 01 Mar 12
     
    To create a global resource for the hospitality finance industry, Hospitality Financial and Technology Professionals has begun development on a global hospitality accounting system users guide. HFTP is the only global association dedicated to hospitality finance and technology and our Global Board is investing heavily to create a benchmark that stakeholders can use to compile accounts, compare regional differences and define the value of a hospitality operation.
  • ...3 more comments...
  • Marcia Brown-Kelly on 01 Mar 12
     
    I agree that this will be a great resource for hospitality finance and technology professionals. I believe that the school doing the research should partner with industry focus groups as well.
  • david swatscheno on 28 Jun 12
     
    This article focuses on a global accounting system. Their trying to make a generic set up that is user friendly for people worldwide. People are working on this and we will see what it has to offer the hospitality community here in the future.
  • Laura Montoya on 15 Oct 12
     
    This article speaks about a user guide that will "compile accounts, compare regional differences and define the value of a hospitality operation." To create this guide will take some time, and 3 steps must be performed. First the research needs to be conducted and gathered, secondly the collected data will be distributed to regional teams who will develop sample charts of accounts. Lastly, the team chairs will finalize the project by authoring a discussion on similarities or differences.
  • Kelly Baptist on 17 Oct 12
     
    This article was pretty brief, but it stated that Hospitality Financial and Technology Professionals has begun development on a global hospitality accounting system users guide. This would create a global resource for the finance industry. Frank Wolfe, HFTP's CEO, says that the company is the only global association dedicated to hospitality finance and technology. They are hoping to create a benchmark that stakeholders can use to compile accounts, compare regional differences and define the value of a hospitality operation. What I found interesting about this article was that it greatly involved final year bachelor students at Ecole Hôtelière De Lausanne in Switzerland performing research for this project. I also think that a global hospitality accounting system users guide would be beneficial, especially since many managers/employees do not have the strongest training or skills in a financial or technical area.
  • Yue Li (3011472) on 17 Oct 12
     
    HFTP (Hospitality financial & technology professionals) begins developing a global hospitality accounting system users guide. This kind of users guide is totally new to the hospitality industry and currently there is no global resource like this. The global guide will provide the hospitality industry with a glossary of inventory terminology, accounting charts and other accounting-related information. This project is developed using technology that can provide users with a benchmark that stakeholders can use to compare regional differences and define the value of hospitality operation. This project is a three-step process. First, bachelor degree students from all over the world who are interested in this project will work as data collector. Second, the assembled and analyzed data will be processed into professionals in different regions all over the world to create new sample charts. Finally, the initial guide will be published in multiple languages and distributed globally. This new accounting system technology is predicted to help the hospitality industry increase the ability in financial management, accounting, cost control and the sharing of global accounting data sources.
5More

Customer Relationship Management - The Future of CRM - 0 views

www.businessweek.com/...crm_future.htm CRM Future
shared by Yingjie Cao on 22 Sep 12 - No Cached
  • ìCRM is one of the most dramatic, fundamental changes in the history of business.î High-Yield Marketingís Dick Lee agreed: ìCRM is fundamentally the expression of the customer-centric business philosophy. Itís how you respond to the fact that customers are now the drivers in our economy.
  • ìThere are different types of customers, different types of business models and selling strategies, and over time there will be different CRM software to support these different models.î Dickie agrees
  • CRM customers are also demanding more and more knowledge management functionality
  • ...1 more annotation...
  • in the eBusiness economy, you need to deliver customer organizational knowledge on demand, anytime anywhere
  • Yingjie Cao on 22 Sep 12
     
    According to the article, different customers, business models and selling strategies require different sizes of CRM system. Over the years, vendors only added more and more features to original CRM systems. They've focused more on functionality at the system level, taking an everything-that-everyone-needs approach that rarely took into consideration the user's interaction with the CRM system. So businesses are demanding a much more flexible, much more nuanced interaction with the information in (and around) a CRM system, an interaction focused on the needs of the individual accessing the information and the needs of the customer engagement taking place. So clearly one size of CRM cannot fit all. Such as how iPhone changes the appearance & function of keyboards and screens. As CRM system focuses more on personal view, "smart" and "flexibility" may be what CRM should achieve in the future.
5More

The 3 Best Residential Property Management Software of 2017 - Reviews.com - 0 views

www.reviews.com/...commercial
shared by markh283 on 06 Oct 17 - No Cached
  • Commercial property managers need a software solution that can adapt to the specific needs of the organization.
  • Total Management makes the list of best commercial property management software, and is a great selection for a medium to large commercial property manager. Its
  • Get Quotes
  • ...1 more annotation...
  • For large property portfolios, the best commercial property management software may be Rent Manager Online.
  • markh283 on 06 Oct 17
     
    This article describes several different Property Management Systems for hotels. It reports on different pricing methods for the needs of various hotels. For example, large brands have different needs from small independent hotels. By comparing the different pricing fees, a manager can best choose which system is best for his or her hotel.
1More

Core i5 vs. Core i7: What's the Difference? - 0 views

www.brighthub.com/...48391.aspx technology
shared by Jingjing Zhu on 20 Jan 12 - Cached
  • Jingjing Zhu on 20 Jan 12
     
    Intel has three main processors, the i3, i5, and i7. However the biggest market for Intel is the primary mid-range processor i5. It is targeted at the heart of the market, with pricing that is not at budget levels but still affordable, and performance that is extremely quick but not the fastest Intel offers. Intel Turbo Boost is a standard feature on all i5, and i7 processors. As expected, the more you pay, the more you get. For instance, the Core i5 2300 has a base clock speed of 2.8 GHz and a maximum Turbo Boost speed of 3.1 GHz. The Intel Core i7 2600, on the other hand, offers a base clock speed of 3.4 GHz and a maximum Turbo Boost of 3.8 GHz. Another significant performance difference is how the Core i7 and Core i5 products will be handling hyper-threading. Hyper-threading is a technology used by Intel to simulate more cores than actually exist on the processor. While Core i7 products have all been quad-cores, they appear in Windows as having eight cores. This further improves performance when using programs that make good use of multi-threading. However, all Core i5, processors have hyper-threading disabled and all i7 processors have multi-threading enabled. This is a major difference of the two different core processors and gives the i7 an edge over the i5 processors. Last but not least, the average difference in price between the two different processor is about $80 dollars with the i7 processor coming out to be $294 and the i5 processor ranging from $177 to $216 dollars. You are basically paying for the difference of 100 MHz clock speed on the processor and the ability to have multi-threading capabilities.
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GDS, OTA and Meta: What's the difference? | HotelMinder - 2 views

www.hotelminder.com/asearch-what-is-the-difference
shared by sbaut010 on 28 Jan 19 - No Cached
  • GDS, OTA and Meta: What’s the difference?
    • ansonj55
      ansonj55 on 28 Jan 19
       
      The article covers the topics discussed in this week's topics related to Global Distribution Systems (GDS) and Online Travel Agency (OTA). It goes in detail regarding the difference and benefits of each. The landscape of the traveling industry changed in the late 1900s with the introduction of the GDS from the airline industry. Although costly, hotels are able to provide unsold rooms at a cheaper rate in order to secure bookings. Similarly, OTAs have gained popularity with the rise of use and reliance of the internet. Most beneficial of a OTA is more visibility for the hotel, since they invest a significant amount of capital in advertising. Whether a hotel is deciding whether or not to invest in a GDS or OTA, it is important to do a cost benefit analysis in order to determine which may be more beneficial to the property.
  • how can they help your hotel gain more online visibility and sell more rooms?
  • Hotels usually sell their rooms for 30% cheaper on GDS
  • ...26 more annotations...
  • GDS is a rather costly selling channel that mainly allows the sale of rooms in larger quantities to bigger companies (for corporate guests) or travel agencies (leisure travellers). Thus, small independent hotels usually do not need GDS.
    • ansonj55
      ansonj55 on 28 Jan 19
       
      GDS is costly so it is not really beneficial for smaller, independent hotels.
  • With the rise of the internet, many websites began selling rooms without the need for human interaction. These sites very quickly gained important market share,
  • Metasearch engines are becoming important in the travel industry
  • We do encourage hotels to use OTA to be more visible online
  • many different accommodation options at one glance
  • Rather than trying to compete with them, it would be better to see them as another selling distribution channel instead.
  • OTA’s invest a lot in online marketing
  • developed metasearch engine tools.
  • With travellers using the internet more than ever to search and book hotels
  • hey usually do many different searches and visit several websites.
  • Increasing your online hotel visibility can be done in many ways.
  • OTAs: Online Travel Agencies
  • GDS: Global Distribution Systems
  • GDS stands for “Global Distribution System”
  • Travel agencies use GDS to get real-time availability, and preferred rates on flight tickets, hotel rooms and car rentals all over the world as it allows them to be very reactive when asked for a quote.
  • OTA stands for "Online Travel Agency"
  • They were first created by airline companies during the 1950’s to broaden hotel and car rental businesses by enabling automated transactions between travel service providers and travel agencies (traditional and online).
  • The three biggest GDS systems are: Amadeus, Sabre and Galileo (now owned by Travelport)
  • real-time availability
  • Central Reservation Services (CRS), such as Sabre, allow hotels to sell their rooms to all GDS simultaneously. However, it is up to the hotel whether to connect with only one or two GDS directly, without the need for a CRS. The good news is that some channel managers are also able to connect with GDS systems.
  • The most popular example is Booking.com, although Expedia (for corporate guests) and Hostelworld (for more economical accommodation options) are also well-known.
    • sbaut010
      sbaut010 on 03 Feb 20
       
      GDS has become an industry of its own with its own markets.
  • Your hotel can usually be listed on an OTA free of charge by adding your hotel photos, descriptions, rooms, rates, etc. You can then choose how many rooms you’d like to sell through the OTA. The availability you’d like to sell as well as the room rate is your decision, and although appearing on the OTA is free, you will have to pay a commission of approximately 15% to 20% every time you get a booking.
    • sbaut010
      sbaut010 on 03 Feb 20
       
      Through this system OTA, the middleman, will always take a form of commission.
  • Although they produce rather time-consuming work as you need to log into each of their extranets to update daily availability and rates, you can very easily connect an OTA to a channel manager to automate, or at least greatly facilitate these tasks.
  • They were created shortly after OTAs and display the current rates of many different hotels in a given destination.
  • Today, OTA’s are a must, and although metasearch engines are slightly more technical to manage, they can also be an attractive selling channel to consider.
  • For small independent hotels, GDS is usually too costly to be considered.
  • duyingli on 31 Jan 20
     
    This article introduces GDS, OTA and Meta in a short space. GDS stands for Global Distribution System, GDS is a rather costly selling channel that mainly allows the sale of rooms in larger quantities to bigger companies. Small independent hotels usually do not need GDS. OTA stands for Online Travel Agency. meta stands for Metasearch Engines. For small hotels, the cost of GDS is high and it is generally difficult to adopt. OTA and meta are two methods worth considering.
9More

Hardware vs. Software - Difference and Comparison - Diffzi - 0 views

diffzi.com/hardware-vs-software hardware software difference
shared by duyingli on 15 Jan 20 - No Cached
  • Hardware and software are two important components in any computing, electronic or digital device.
  • The main difference between hardware and software is that hardware is always in a tangible form while the software is in intangible form and is a set of instruction without which computer can’t operate.
  • Computer software includes computer programs, applications, operating systems, libraries, and their associated documentation.
  • ...4 more annotations...
  • Hardware is available in physical and tangible form while the software is available in intangible form as we can’t see the software.
  • Hardware has weight while the software is weightless. The weight is only of the disc or readable media where software is saved.
  • Installing new software called updating while installing new hardware or replacing the old one is called upgrading.
  • The virus always attacks software, not hardware.
  • duyingli on 15 Jan 20
     
    This article shows the difference between computer software and hardware. Software and hardware are interdependent to ensure the computer's operation. Both are indispensable. The article first compares software and hardware, then explains the software and hardware separately, and finally points out a few key differences.
  • Luis Valdivia on 16 Jan 20
     
    This is a great article that brings out the difference between hardware and software in computer systems. The author points out that both hardware and software are vital components in any electronic, computing, and digital device and that they are interdependent. However, there are distinct differences between the two. While software describes instructions that a computer uses to carry out operations, such as programming software and application software, hardware describes a physical device that carries out tasks based on the instructions provided by the software. Besides, hardware is tangible while software is intangible.
46More

CloudBasedvsDesktopBased_PMSHotels.pdf - 0 views

diigo.com/0i0bbc
shared by marble_bird on 09 Jul 20 - No Cached
  • Even though keeping up with the modern developments in IT sector is crucial for the success and competitiveness of a hotel, it is usually very hard for new technologies to be accepted and implemented.
  • On the example of hotel property management system (PMS) and comparison between features of its older desktop-version and new web-based programs, this research aims at finding out at which stage and how effective is usage of cloud technology in hotels.
  • Constant innovation in hardware, software, and network developments and applications means that only dynamic organizations that can respond efficiently and effectively to these innovations, will be able to outperform their competitors and maintain their long-term prosperity.
  • ...42 more annotations...
  • It is crucial for tourism and hospitality practitioners to proactively incorporate new technologies into their businesses as these will improve service quality and differentiate their products and services.
  • In order to be able to follow the increasing guests' requests for qualitative services, it is mandatory for hotel management to constantly work on improving its functions and operations. For this it is necessary to keep track of innovations in sectors outside the hospitality, like IT sector that works on creating, developing and introducing new technologies
  • Hospitality is one of targeted sector that is considered appropriate for application of cloud technologies and services. Hotel Management System or widely known as Property Management System (PMS) is one of the system where IT practitioners saw the chance for improvement by ''moving it to the cloud''.
  • Hotels will be forced to upgrade their current systems so that they can respond to various and changeable guests' habits and requirements. However, until today, there was not enough academic papers related to usage of cloud technology in hospitality industry even though this sector is under continuous changes caused by usage of new technologies which made search, evaluation and payment of the hotel rooms easier than ever.
  • After comparing the two groups of hotels, from which one was using desktop PMS and other group cloud- based PMS, the results of the research were derived and presented. In conclusion of the paper, challenges with which the hotels are facing and which affect their decision of starting to use cloud- based technology as well as recommendation for future work will be discussed.
  • As stated by the Sharif (2010), cloud computing is the latest technology that is being introduced by the IT industry as the next (potential) revolution to change how the internet and information systems operate. The term “cloud” was probably inspired by IT text books’ illustrations which depicted remote environments (the Internet) as cloud images in order to conceal the complexity that lies behind them (Sultan,2010).
  • The goal of a new computing world is to develop software for millions to consume by easily accessing it over a network. Cloud service providers are making profit by charging consumers for accessing these services.
  • Products offered via this mode include the remote delivery (through the Internet) of a full computer infrastructure (e.g., virtual computers, servers, storage devices, etc.); the building blocks of an IT enterprise.
  • Services provided in this category include CPU processing on demand, virtual Web hosting, and storage on demand. The most notable vendors are Amazon’s EC2, GoGrid’s Cloud Servers, and Joyent.
  • With cloud computing, services and applications that were managed locally in the past requiring hardware, operating systems, web servers, as well as teams of network, database and system management experts are now provided remotely by cloud providers under this layer.
  • Cloud computing services can be adopted by firms in three different forms (Goscinski and Brock, 2010):
  • Public clouds - online applications that are open to everyone for free, such as Google
  • Private clouds - involves firms deploying key enabling technologies, such as virtualization and multi-tenant applications, to create their own private cloud database
  • Hybrid clouds - mix of the previous two types that are emerging with the intention of providing clients with a level of “control” over their resources
  • The cloud offers enterprises the option of scalability without the financial commitments required for infrastructure purchase and maintenance.
  • Reallocating information management operational activities to the cloud offers businesses a unique opportunity to focus efforts on innovation and research and development. This allows for business and product growth and may be even more beneficial than the financial advantages offered by the cloud.
  • These investments and efforts for a new technology to be presented open a new progress circle of technology advancements and it continues in the same way.
  • When creating software or an application for a hotel, IT personnel have to possess a certain level of flexibility, openness and creativity. On the other hand, hotel employees are expected to have more insightful and openminded approach towards new ways of performing business operations, sometimes take risks and have experiences with using different programs and applications.
  • A hotel's PMS can gather and keep valuable information about hotel guests by incorporating business intelligence tools which help hoteliers organize and make sense of the gathered data. Regardless of whether room reservations come from Online Travel Agency, Global Distribution Systems or by telephone, all of them are gathered, stored and managed in the PMS.
  • low investment costs were main reason for hotels from Group B to decide in favor of cloud based version.
  • Business intelligence options provide hoteliers with a threedimensional view of guest data, which allows easily statistical reporting and increased hotel management efficiency.
  • The aim of this study was to investigate the difference in practical usage of the two types of PMS systems – cloud based and classical (desktop) ones.
  • On the question about the reasons for using the current PMS type in hotels, answers of Group A were based on usage of their current PMS for years and on the fact that employees in all hotel departments were used to work on it. As time passed by, hotels upgraded their system to new versions for several times and additional customization was implemented with regard to hotel preferences.
  • Hotels from Group B were consisted of relatively new boutique hotels that operate for more than a year and from those that were not using any kind of PMS solution (they were using Excel tables and creating reservation records manually). The reason why hotels from this group wanted to use cloud PMS was a desire to try the latest technology used in hospitality industry.
  • Other reasons for using it were: PMS could be reached from any place where Internet connection is available, simple but effective design with lots of visual solutions, more options to enter the important information and the fact that it is working not only on any PC but also on any mobile device due to its mobile applications.
  • Simplicity of the cloud based property management system allows it to be productive. Cloud based PMS's can operate on any advice that has a web browser and the companies are putting their efforts to make it even more friendly on smaller devices like tablets and smart phones.
  • The similar amount of initial investments were confirmed by the Group A. Being considered as great amount of money for newly opened and small sized hotels to invest, management decided to try out the cloud version which allows access to this system based on monthly subscription with very little or no investment cost, depending on the solution provider.
  • After initial investments in the system implementation, hardware, software and training of employees, every year hotel makes a one-year-based contract for additional support services and, if needed, extra training. Support is provided any time a hotel reports an issue or malfunction by directly connecting to hotel's computer through remote programs.
  • Changes are made either for each hotel at a time, or after releasing new version, when provider try to convince all the current users to upgrade to it. Upgrade is provided by the extra charge, so these costs should be also considered during planning investments in classical PMS.
  • Regardless of which type of system they used, all participants were very careful about and interested in the matter of data security.
  • However, it is totally different situation with cloud based system, which is mainly open system where all authorized users and providers from outside have access to. Of course, it is up to hotel management to whom the authorization rights will be given and being an open system it makes support, development and innovation activities much easier. Cloud based PMS are hosted on some of the world's best known servers so there is no need for additional computers to be used as servers.
  • Although there are some great differences in functions and way of managing regarding classical and cloud based system, both have their advantages from which hotels do not want to give up.
  • One of the biggest advantages of cloud based PMS for the Group B is the fact that this system can be directly integrated with hotel online booking engine. This is considered as a great advantage for the hotels that besides having functional web site, wish to maximize use of its online booking engine, receive more online reservations directly from the guests and gain more profit.
  • Such a functional connection between hotel’s PMS and online reservation system allow hotels to have a social media integration as well. This means that hotels are able to receive online reservation through their Facebook page as well as receive direct links to its page from the biggest review sites such as TripAdvior.com.
  • In this paper two different approaches and perspectives on usage of cloud based and classical hotel management systems were exposed. Hotels from Group B have shown a tendency for usage of new technologies and readiness to adopt and continuously learn about them.
  • Among factors, affecting why hotel prefers one system over another, are type and size of hotel, through which channels are guest reservations coming, previous experience with IT stuff and different programs, etc.
  • Cloud based program can help them in order to update prices and room availability information to hotel's booking engine. This prevents overbooking, provides easily management of CRM functions and information, with no first investment costs or extra expenses which results in revenue increase.
  • Hotels that use classical PMS pay a great attention to the security issue because they do not want to risk opening their hotel for external intervention. In recent years we can find in media lots of evidence of information linkage from system that had much higher security measures than an average hotel.
  • Measuring the performance of cloud-provided services is another challenge for the hotel management, primarily due to the lack of measurement standards.
  • While investigating the previous knowledge about the other system solutions, hotels in Group A have claimed lack of information about the cloud technology and its solutions.
  • Even though IT stuff in these hotels has some basic knowledge about it, it is still not enough to convince the other managers about its benefits. Therefore it may be concluded that, besides trying to overcome the above mentioned challenges, developers of cloud based solutions to hotels should also work hard on training the potential clients about the positive aspects and correct usage of cloud technologies.
  • Lack of measurement standards for cloud-provided services in general as well as for hotels is another important limitation due to which qualitative research was conducted. Authors’ recommendation is that academicians should focus more on topics of cloud computing, cloud solutions for other business operations and on defining measurements standards for cloud services.
  • marble_bird on 09 Jul 20
     
    This article, published in 2015, covers a study performed in Turkey to analyze factors in hotels that lead management to prefer desktop-based PMS over cloud-based PMS or vice versa. The study uses qualitative research to determine the reasons for the usage of PMS and the advantages and disadvantage of either system. The study found that, among others, significant factors that contribute to the form of PMS implemented by mangement may include the size of the property, reservation channels, and prior level of IT experience.
47More

10 Property Management Systems To Look At In 2019 | By Matt Pliszka - Hospitality Net - 0 views

www.hospitalitynet.org/...4093102.html hospitality PMS
shared by cleon087 on 30 Sep 19 - No Cached
  • With more than 65% of reservations made online, so many channels available to distribute your hotel services, and online aggregators, it's especially important to monitor and manage your hotel or resort's online presence.
  • Booking calendars
  • Displaying bookings in one place can save a hotelier a lot of trouble and effort.
  • ...30 more annotations...
  • Channel integrations.
  • oftware Integration
  • Automation and analytics
  • Hospitality management software
  • BedBooking - best for calendar & mobile app
  • Cloudbeds - best for an advanced property management system
  • LiveChat - a software to chat with customers visiting your booking page Buffer - software to manage and schedule your social media postings MailChimp - a software to automate your email marketing campaigns Pipedrive - a CRM to handle sales of your hospitality business Slack - an obvious-choice tool to help you communicate with teammates at your hotel
  • Hostaway - best for booking websites
  • yieldPlanet - best for channel manager
  • Smoobu - best for dashboard view
  • Stardekk - best for restaurant module
  • Hotelfriend - best for built-in CRM
  • Avail - best for rentals & leases
  • Tenant Cloud - best for accounting
  • Guesty - best for messaging automation
  • vast amount of problem-solving features in one place,
    • cleon087
      cleon087 on 21 Jun 20
       
      It makes it so convenient to have something all in one place. Especially with what is happening now with Covid-19, it is important for employees to be able to login from home.
  • rooms' management, channel management, booking engine, payment processing & analytics.
    • cleon087
      cleon087 on 21 Jun 20
       
      This keeps it organized because you have all your things connected. You want it all to be on the same page because you do not want a room to be double booked.
  • a simple calendar app, letting you sync your calendar reservations from Booking.com & Airbnb, solving one of the most common hotelier's organizational problems which are visualizing your property's schedule in one place. It provides an outstanding calendar app which can help you manage everything on the go.
    • cleon087
      cleon087 on 21 Jun 20
       
      This is important because your GM can access this from their own phone and be constantly updated.
  • e software integrates with many different solutions, including Zapier, letting you set up automated workflows in your business.
    • cleon087
      cleon087 on 21 Jun 20
       
      This is crucial for people that manage more than one property or have to keep up with a large hotel. It makes it easier to solve issues because you have easy access to information.
  • Guesty will let you set up automated messages, depending on the timing or other triggers such as cancellation or changes to the reservation system.
    • cleon087
      cleon087 on 21 Jun 20
       
      This adds the hospitality to things, you want your guest to know that you care. This is sometimes difficult to message all your guest when you have a large hotel.
  • c between numerous distribution channels in one place.
  • ou dive deeply into the competitiveness of your pricing of
    • cleon087
      cleon087 on 21 Jun 20
       
      This helps in setting the prices depending on the month and the day and on facts.
  • l your reservations available at a glance by using a single cockpit/dashboard
  • oftware solutions provided by Stardekk, you will also find a restaurant module, letting you manage a restaurant within your hospitality business.
    • cleon087
      cleon087 on 21 Jun 20
       
      This is great for establishments like an hotel that also has their own restaurant inside.
  • Hotelfriend offers an all-in-one hotel management solution with the focus on letting your sales team send and manage personalized offers for your hotel services
    • cleon087
      cleon087 on 21 Jun 20
       
      This is a nice feature because you can target people like businesses and large groups that need a special deal.
  • it's free to use in its basic version.
  • Something you should definitely be looking at if you're a smaller property management business, not able to set up a more advanced custom website
    • cleon087
      cleon087 on 21 Jun 20
       
      I like this because it is a program that makes it easy for family owned hotels or small hotels that need help.
  • Using the best technology out there will never mean you will suddenly turn your business into a successful one.
    • cleon087
      cleon087 on 21 Jun 20
       
      I really like the point that was made here.
  • Use the right property management system
    • cleon087
      cleon087 on 21 Jun 20
       
      I also like this point because it is important to find the fit for your business and guest.
  • LiveChat - a software to chat with customers visiting your booking page Buffer - software to manage and schedule your social media postings MailChimp - a software to automate your email marketing campaigns Pipedrive - a CRM to handle sales of your hospitality business Slack - an obvious-choice tool to help you communicate with teammates at your hotel
    • cleon087
      cleon087 on 21 Jun 20
       
      This makes it easy to reach your guest and maybe answer questions that will determine whether they stay at your hotel or not.
  • pvega018 on 30 Sep 19
     
    A rather new article set up as a guide to help anyone in the hospitality industry regardless if they are in lodging, hotels, restaurants, etc. this article describes different property management systems that facilitate everyday service. Throughout this article the different systems express their main usage and recommendations on how to remain more organized are addressed. Mainly, this article shows how to properly " operate a variety on online tasks," while remaining organized and doing it the most convenient way possible.
  • cleon087 on 21 Jun 20
     
    This article is about different PMS, and what they can offer for your company. It includes features that would be good for a property that is large all the way to one that is small. It mentions different PMS that can send automated but personal messages to your guest. This article highlights the importance of picking the right PMS for your company because it all depends on the culture and guest that you have.
44More

Accounting technolog Used in the Hotel Industry | - 5 views

www.ehow.com/grams-used-hotel-industry.html
shared by Juan Du on 07 Feb 12 - No Cached
  • Hotels rely on different tools, including their accounting software, to increase their effectiveness and make them more competitive in their core business.
  • Hotels can decide to purchase accounting software dedicated solely to one function or can invest in enterprise software. Some chains have opted to outsource their accounting operations to major computer companies and accounting firms.
  • The percentages of room-rate vacancy and seasonal trends are evaluated and measured against the best establishments to assess hotel performance.
    • Juan Du
      Juan Du on 28 Feb 13
       
      Hotel managers are often faced a lot of problem to deal with the accounting system. Now hotel manager can manage all of the accounting responsibilities by use hotel accounting technology. Using Web-based hotel accounting software can save your business money . The functions covered in all of the accounting systems.
  • ...25 more annotations...
  • Decisions governing selection of accounting programs depend on multiple factors including the uses of the accounting programs.
  • Hotel managers are often faced with the challenge to propose and procure the appropriate technology and software to run their operations.
  • This article describes major factors to weigh in selecting accounting software for the hotel industry.
  • Decision Criteria Used in Selection Process: Major factors identifying selection of accounting programs used in hotels are: ---Annual revenue ---Budget ---Location ---Multiple sites ---National or international location ---In-house vs outsourced operations
  • Accounting software is crucial in measuring and tracking the hotel's profitability.
  • Functions covered in accounting software programs include: --Accounts payable --Accounts receivable --Budgeting --Cash management --General ledger --Sales analysis --Payroll --Procurement --Order entry --Fixed assets --Inventory management
  • Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry.
  • This article describes major factors to weigh in selecting accounting software for the hotel industry.
  • Decisions governing selection of accounting programs depend on multiple factors including the uses of the accounting programs.
  • Hotels rely on different tools, including their accounting software, to increase their effectiveness and make them more competitive in their core business.
  • Accounting software is used to track room-rate revenues and identify any discrepancies that require remediation and corrective actions.
  • Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. Careful consideration of the purpose, functionality and desired results from accounting software must be taken prior to selection and purchase.
  •    This article describes major factors to weigh in selecting accounting software for the hotel industry.
  • Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. Careful consideration of the purpose, functionality and desired results from accounting software must be taken prior to selection and purchase
  • How to Select Hotel Accounting Software:     Decisions governing selection of accounting programs depend on multiple factors including the uses of the accounting programs
  • Decision Criteria Used in Selection Process: Major factors identifying selection of accounting programs used in hotels are: ---Annual revenue ---Budget ---Location ---Multiple sites ---National or international location ---In-house vs outsourced operations
  • Accounting software incorporates the widely used Generally Accepted Accounting Standards (GAAP) and focuses on key measures unique to the hotel industry, such as revenue per room (RevPar)
  • Accounting software encompasses multiple functions of a hotel's operations, ranging from data mining to running financial reports.  Functions covered in accounting software programs include: --Accounts payable --Accounts receivable --Budgeting --Cash management --General ledger --Sales analysis --Payroll --Procurement --Order entry --Fixed assets --Inventory management
  • Print this article DartUtils.loadGoogle160 = function() { dmjs.runInlineAd = true; $('.AdUnit160').hide(); $('.AdWrapper').addClass('no160'); }; dartAds.renderiFrameAd([{ sz: '160x600' }], 160); How to Select Hotel Accounting Software:    Decisions governing selection of accounting programs depend on multiple factors including the uses of the accounting programs
  • Hotels rely on different tools, including their accounting software, to increase their effectiveness and make them more competitive in their core business.
  • Hotels can decide to purchase accounting software dedicated solely to one function or can invest in enterprise software. Some chains have opted to outsource their accounting operations to major computer companies and accounting firms
  • Accounting software is used to track room-rate revenues and identify any discrepancies that require remediation and corrective actions.  The percentages of room-rate vacancy and seasonal trends are evaluated and measured against the best establishments to assess hotel performance.
  • The hospitality industry has had steady growth, with increasing demands for internal controls and financial accountability.  Accounting software is crucial in measuring and tracking the hotel's profitability
  • Areas of Functionality in Hotel Accounting Software
  • Areas of Functionality in Hotel Accounting Software
  • Ruth James on 07 Feb 12
     
    This article describes accounting software functions within the Hotel industry. The article states that "Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry". It is said that when selecting accounting software, you must identify what results you are looking for from the software; and also the functions that you are able to receive. You must also understand the needs of your property, and industry. The article also discusses various decision criteria, which is a part of the selection process. Some of these criteria's that you must look out for are: annual revenue, budget, location, multiple sites, national or international locations, in-house verses outsource operations. I love the fact that this article also discusses the functions of hotel accounting software. Some of those functions that were stated are: account payable, account receivable, and payroll. The article also brought up some trends about hotel and lodging accounting software. One of the trends that stand out to me was the fact that some companies hand over their entire accounting responsibilities to major accounting companies or, accounting firms; this is referred to as outsource. Having a accounting software is a very beneficial asset for a company.
  • ...12 more comments...
  • Ligia Elizondo on 01 Mar 12
     
    This article talks about the importance of choosing the right accounting software for hotels. Hoteliers need to take into consideration the purpose, functionality and desired results before selecting accounting software which "is used to track the profitability of hotel operations and identify trends in the hospitality industry." In order to select a hotel accounting software it has to match the needs and functions of the premise. Some of the most important factors in the selection process are annual revenue, budget, location, multiple sites, national or international location, and in house vs. outsourced operations. "Accounting software encompasses multiple functions of a hotel's operations, ranging from data mining to running financial reports." Some of the major functions in accounting software are accounts payable, accounts receivable, budgeting, cash management, general ledger, sales analysis, payroll, procurement, order entry, fixed assets, and inventory management. The hospitality industry is reporting increasing demands for internal controls and financial accountability therefore is very important that hotels select the right accounting software because is in charge of keeping records of the hotel's profitability. In addition accounting software reports room rate revenues and discrepancies and use the Generally Accepted Accounting Standards.
  • Diane Cacho on 02 Mar 12
     
    Accounting software programs are essential to the hospitality industry because it helps organize and keep track of the hotels operations and its profits. It's important to select the right accounting software that will help tie in the needs and concerns of your hotel. The significant factors to look upon in choosing the best program for your business are annual revenue, budget, location, multiple sites, national or international location, and in-house verses outsourced operations. Accounting software incorporates multiple roles of a hotel's operations such as data mining and running financial reports. Hotels can choose to purchase accounting software devoted exclusively to one purpose or can invest in enterprise software. The hospitality Industry counts on the different tools, as well as their accounting software, to increase their usefulness and creating them to become more competitive in their central business.
  • Marcia Brown-Kelly on 02 Mar 12
     
    I believe one of the most critical items missing from the selection process when purchasing accounting software is the need have interface with the PMS system. This would be a more integrated approach for the smooth transition of front and back of house operations.
  • Ganna Gorbachuk on 05 Mar 12
     
    Marcia, you are right! Its a very important idea, to have interface with the PMS system. As for the main topic of this discussion accounting is a step for understanding the factors which influence your business positevly and negatively, in order to use proactive or reactive strategy. Some things that should theoretically work in your business can actually be unsuccessful, so financial data analysis is a key for problem-defining and therefore for finding solution.
  • samira sobhani on 30 Jun 12
     
    This article gives some useful hints on how to choose an accounting software for your hotel business and what are the tips and tricks. There are lots of accounting software packages in the market which has a number of different options but the point is that each of these features will match a specific  need.  
  • Chelsey Alvarez on 01 Jul 12
     
    This article is about choosing the correct accounting software for the hotel industry. Through different types of software you are able to track the profitability of a hotel.
  • marilyn diaz on 18 Sep 12
     
    This article is about how a hotel should choose their accounting program. There are many things to consider when choosing the right program for your institution. It is not just what is more cost effective, but what does it include and are they things your hotel needs. It is like a PMS system, you get some basics, but you also may need to be able to add more options, or none at all. Another factor when selecting this program is the size of your hotel. If it is one hotel or a chain. Accounting software is crucial in measuring and tracking a hotel's profit. In conclusion, when hotel management buys an accounting program, they must analyze the software, and not just buy the first one they come across.
  • Erica Davis on 23 Sep 12
     
    This particular article discusses the need for accounting software programs within the hospitality industry. These programs can do just one thing or be all-encompassing, such as an enterprise program. Accounting programs still have to follow the Generally Accepted Accounting Principles (GAAP), which regulate the accounting industry. They help track the profitability of the company, amongst other things. Additionally, hospitality companies must be very careful in choosing the right program. These programs can help managers run a business more effectively but it has to be matched with the right program. There is also the option of outsourcing the accounting function to a third party, which could save a lot of time and money down the road. Erica
  • Qianlin Wang on 16 Oct 12
     
    Hotel software is designed for all areas of hotel operation including property management, accounting, GDS reservations, central reservations, reception, POS, spa/club/golf management, guest management, inventory management, yield/revenue management, accounting, and web site design. Small hotel software is available for properties with less than 100 rooms and focuses on basic front and back office functions and/or reservations and guest management. One of the major types of hotel software used by the hotel/motel industry is accounting programs. Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. To select good accounting software for the hotel depends on multiple factors including the uses of the accounting programs. Accounting software incorporates the widely used Generally Accepted Accounting Standards (GAAP) and focuses on key measures unique to the hotel industry, such as revenue per room (RevPar). Knowledge experts should be familiar with both general accounting rules as well as industry specific guidelines.
  • haojingting on 20 Oct 12
     
    This article describes major factors to weigh in selecting accounting software for the hotel industry. And Major factors identifying selection of accounting programs used in hotels are: ---Annual revenue ---Budget ---Location ---Multiple sites ---National or international location ---In-house vs outsourced operationsThe hospitality industry has had steady growth, with increasing demands for internal controls and financial accountability. Accounting software is crucial in measuring and tracking the hotel's profitability. And besides the normal functions, the advanced accounting software can be used to track room-rate revenues and identify any discrepancies that require remediation and corrective actions. The percentages of room-rate vacancy and seasonal trends are evaluated and measured against the best establishments to assess hotel performance.
  • Xue Yan on 20 Oct 12
     
    The article demonstrates that accounting software in hotels is used to track data of hotel operations, to make future decisions and some other functions related to finance and daily operations. So hotels should consider several aspects while establishing accounting software. Such factors affecting decisions are like: Annual revenue, Budget, Location, Multiple sites, National or international location and In-house vs outsourced operations. Regarding the trend of accounting system, the article says that accounting software can make the hotels more competitive and more effective.
  • rebecca Bonet on 20 Oct 12
     
    The article describes major factors to weigh is selecting accounting software for the hotel industry. Accounting Software is used to track the profitability of hotel operation and identify trends in the hospitality industry. Hotel industry carefully finds out what will be a great functionality and result before purchasing accounting software. First of all, selecting hotel accounting software and the uses of the program. Secondly, identifying the selection of accounting program, used in the hotel. For example, annual revenue, budget, location, multiple site, etc. The article discusses the function of hotel accounting software. Some of the functions are hanging from data mining to running financial report. Also, the article discuses about lodging accounting software, one of the example that they used is that they really on different tools including their accounting software to increase their competitive in their core business. The article talks about accounting Software Metrics in the hotel industries. They use this Metrics by tracking room rate revenues and by doing the room- rate vacancy and seasonal trends. Having the accounting software in hotel is very important for the industry
  • Xiameng Zheng on 19 Feb 13
     
    The hospitality industry has had steady growth, with increasing demands for internal controls and financial accountability. Accounting software is crucial in measuring and tracking the hotel's profitability. Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. So it's important for hotel manager to choose the suitable accounting software. This article tells how to select hotel accounting system properly. Including the decision criteria used in selection process, areas of functionality in hotel accounting software and standards used for accounting and auditing in hotel industry, etc.
  • Juan Du on 28 Feb 13
     
    Hotel managers are often faced a lot of problem to deal with the accounting system. Now hotel manager can manage all of the accounting responsibilities by use hotel accounting technology. Using Web-based hotel accounting software can save your business money . The functions covered in all of the accounting systems.
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The difference between CRS and GDS in the hotel industr... | Mews Blog - 0 views

www.mews.com/...difference-between-crs-and-gds hospitality software tech hotel
shared by armanyleblanc767 on 11 Jul 22 - No Cached
  • The primary function of a GDS is to assist travel agents who are looking for hotels that satisfy certain criteria
  • This technology gives travel professionals a common point of entry to access real-time data about travel reservations.
  • central reservation system, or CRS, is designed for the hospitality sector – and in particular for hotel operations – to manage room availability and rates.
  • ...13 more annotations...
  • Amadeus accounts for roughly forty percent of travel bookings, making it the world's biggest reservation system.
  • Sabre accounts for roughly thirty-five percent of travel bookings, making it the world's second-biggest reservation system.
  • , it is still commonly used by business travel agents to book hotel arrangements.
  • a GDS can link your hotel to business travel planners and travel agent networks. A CRS can connect you to these partners as well, but also to customers themselves through your booking engine,
  • metasearch websites and OTAs. 
  • Undoubtedly, with this technology, you can connect with more distribution channels, streamline your reservations department, sell more rooms and increase your bottom line.
  • a CRS can integrate with on-property systems like your revenue management system and generate reports automatically.
  • a CRS streamlines your booking processes by storing all your reservations in one location
  • These business-to-business systems are used by organisations to keep abreast of information about travel arrangements, like hotel room availability. This allows customers to make bookings on demand
  • Whenever rates are adjusted or bookings are made, the CRS updates your hotel’s rates and availability on each channel appropriately
  • If you use a CRS, your hotel will be more visible on lots of distribution channels. This offers a greater likelihood of increased occupancy and revenue. 
  • without a CRS, you would spend ages updating availability, inputting rates and recording new bookings.
  • A CRS promotes your establishment to a wider market, without you having to do any extra work
  • angelacolas9 on 11 Jul 22
     
    In this article, the difference between CRS and GDS in the hotel industry. These two systems may be similar but cater to different business and different markets.
  • armanyleblanc767 on 30 Jan 23
     
    This article talks about the differences between CRS and GDS, their similarities, and how they both help hotels gain exposure. GDS help inform travel agencies and other organizations about travel arrangements like hotel room availability and flight schedules and prices whereas CRS is designed specifically for the hospitality to manage room availability and rates. According to the article, although these systems are both helpful, it seems more valuable to have both, as CRS in combination. With GDS will help to promote establishments to a greater market through various booking platforms.
7More

Raising your Profits with - Boost Your Bottom Line - 1 views

www.unicornhro.com/...ystems--boost-your-bottom-line
shared by Xue Yan on 24 Nov 12 - No Cached
  • The best human resource information systems include HR metrics to help you get a great look at your company. By asking the human resource information systems for various types of data you can get a detailed look at numerous different types of information including turnover rate, turnover costs, new hire costs, the average cost of benefits, and even the return on investment of specific employees. The data human resource information systems provide to you allow you to see which areas of your company are costing you too much money and which ones are worth your time. Using HR metrics from human resource information systems, you can create short and long term strategies for improving each aspect of your company's inner workings.
  • Human resource information systems
  • Human resource information systems can do a lot for a company. From streamlining their HR department to simplifying numerous aspects of employee benefit management, human resource information systems are utilized by thousands of businesses of all sizes.
  • ...1 more annotation...
  • And although many businesses moving into the mid-sized to large marketplace look at human resource information systems as an expense, the truth is that they are actually an investment.
  • cbespinel on 24 Nov 12
     
    This sounds like a great tool to have, monitoring, analyzing and improving is much easier with the help of HRIS. Determining which departments within a specific organization are not performing well and which ones need a different strategy is very beneficial, as future managers and owners it is important to see the importance of these systems. 
  • Nicole Spencer on 01 Dec 12
     
    The following article mainly focuses on Human Resources Information Systems, HRIS for businesses in particular the article focuses on companies utilizing such IT systems. For instance, since different companies utilize different requirements for their employees customizing such HRIS's will benefit financially and timely; Companies will spend less time working on such types of data if in their requirements they customize their HRISs to produce such data required.    
  • Xue Yan on 02 Dec 12
     
    The article believes that Human Resource Management System can boost business bottom line in several ways. It is an investment to most of the companies, instead of an expense. The system includes HR metrics, which helps the manager get a deeper look at his/her own company by tracking different data from the system. Another is that the system improves the working effectiveness of the HR department. The Human Resource system not only benefits the corporate HR department, but also benefits the non-HR employees by allowing them log in to the system and get some information about the company. Last but not least, the article emphasizes that the system can help boost corporate profits.
12More

Marketing and e-business for the tourism industry - The Globe and Mail - 0 views

www.theglobeandmail.com/...article641924.ece
shared by lamia elachchabi on 09 Jun 13 - No Cached
  • Marketing and e-business for the tourism industry
  • With increasing competition in the tourism industry, successful entrepreneurs know that a good marketing plan is vital to success.
  • Tourists and enthusiasts have quickly adopted the Internet as a preferred means of shopping for excursion and destination venues which allow them to quickly compare accommodations, aesthetics, services offered, and prices.
  • ...8 more annotations...
  • E-mail newsletters and promotions: Consent of the recipient is essential - and the frequency should not be intrusive.
  • Build traffic through Web links with other sites
  • Get involved in discussion sites related to your specialty
  • Simplify off-season bookings: offer online reservations
  • Extend the season through auction-style sales of fringe-season packages
  • customers and by advertising in high-draw areas. Increase a Web site's marketing pull: form a marketing ring of related operators
  • Generate more customer attention and create related product marketing opportunities: become a source of information on your area or industry
  • Grow profitability: analyze customer information to optimize marketing efforts
  • lamia elachchabi on 09 Jun 13
     
    Marketing and E-business for tourism industry A good marketing plan is important to the success of businesses. There are several guidelines and ways to use electronic medium to stay competitive. A business has to always take care of the existing customers and their needs without forgetting to attract new customers. Tourists are using internet to shop for new destinations so an online presence is very important for consumers so they will be able to find out information about the business. There are several guidelines to consider: * Promptness people expect to get a response within a reasonable time. * Quality means that your website should be able to compete with other websites on the internet and this means that it should have good quality photographs and professional tone to the websites. * Consistency means a good consumer service and a professional image. There are many ways to promote services online: email newsletters and promotion, building traffic by working with other websites, offer deals, get involved in discussion sites about the industry you are in. During an off season bookings, simplicity of booking should be a priority. Tourism operators should join travel and tourism "mall" to offer their products and host their site and use these low cost services. Companies can also promote their products online by offering auction style sales that helps consumers have some kind of control over the prices of the different services in tourism. One of the perks of online shopping for travel services is the price transparency and the fact that costumers have choices of different prices in front of them. Company should Increase a web marketing pull by offering different services and also advertising with other companies. Promote and minimize the costs of the services by adding "do-it-yourself" features. A list such as: A FAQ, maps of location of other area attractions and local guides for rental outlets. To improve the way you market your products and
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