Skip to main content

Home/ Hospitality Technology/ Group items matching "expenditure" in title, tags, annotations or url

Group items matching
in title, tags, annotations or url

Sort By: Relevance | Date Filter: All | Bookmarks | Topics Simple Middle
djaco048

What are capital expenditures? | AccountingCoach - 0 views

www.accountingcoach.com/...what-are-capital-expenditures

shared by djaco048 on 16 Jan 23 - No Cached
  • Definition of Capital Expenditures Capital Expenditures are the amounts spent for tangible assets that will be used for more than one year in the operations of a business. Capital Expenditures, which are sometimes referred to as capex, can be thought of as the amounts spent to acquire or improve a company's fixed assets.
  • Examples of Capital Expenditures Capital Expenditures include the amounts spent to acquire or make significant improvements to land, buildings, machinery, equipment, furniture, fixtures, vehicles, computer information systems, leas
  • ovements, etc.
  • djaco048 on 16 Jan 23
     
    this i article is about capital expenditure
anaferia

Capital expenditure management to drive performance | McKinsey - 0 views

www.mckinsey.com/...nagement-can-drive-performance

shared by anaferia on 26 Aug 22 - No Cached
  • companies that reduce spending on capital projects can both quickly release significant cash and increase ROIC
  • As the cost of capital goes up, discipline in managing large projects will become increasingly important.
  • organizational drivers that impede capital expenditure management affect all stages of a project life cycle, from portfolio management to project execution and commissioning.
  • ...3 more annotations...
  • essential to identify strengths, areas of improvement, and the value at stake.
  • capital expenditure management leaders face similar challenges to those in other functions that have already undergone major productivity improvements: often these challenges are not technical problems but instead relate to how people work together toward a common goal
  • organizations have a significant opportunity to fundamentally improve project outcomes by rethinking traditional approaches to project delivery
  • anaferia on 26 Aug 22
     
    Businesses may optimize the life cycle of a capital expenditure project by concentrating on three areas: capital strategy and portfolio optimization, project development and value enhancement, and project delivery and construction. Organizations must develop a transparent and carefully evaluated baseline and capital budget that provides a clear knowledge of the total capital expenditure budget for the next years, as well as realistic cost and time predictions for the organization's portfolio of capital projects. While claims on capital projects are relatively prevalent, smart management may keep them under control and allow owners to retain considerable value.
nixalexa

OPEX or CAPEX for your IT Investment? | TOUGHBOOK Blog - 0 views

blog.toughbook.eu/...ex-or-capex-your-it-investment

shared by nixalexa on 19 Oct 21 - No Cached
  • The “as-a-service” approach also has other benefits when it comes to flexibility. It’s much easier for a business to scale up and down as required. For example, adding new devices and services on a monthly basis or removing them. This flexibility ensures the business only pays for what it needs at the time, rather than having additional tech that is no longer required gathering dust in the warehouse.
    • nixalexa
      nixalexa on 19 Oct 21
       
      This approach is more beneficial for smaller companies, as many times they do not have the money to invest in these capital expenditures all upfront. This article explained the relation between Capital expenditures vs Operational expenditures as it relates to technology. This article explained how more companies have been taking the operational approach versus the capital approach because technology does not last forever. Almost every 3-5 years companies have to change their technology to stay up-to-date and efficient with their software and devices. Capital expenditures require all of the money upfront while operational expenditures is money spent as it comes in, like utilities, rent and other monthly or quarterly services.
  • Traditionally, if a business wanted to invest in IT equipment, such as new laptops or PCs, they would pay for their technology upfront as a capital expenditure (CAPEX).
kjeewan

The benefits of moving from CapEx to OpEx for IT spending - 0 views

superloop.com/...-capex-to-opex-for-it-spending

capital expenditure operational cloud based technology information

shared by kjeewan on 22 Aug 22 - No Cached
  • The delivery of cloud-based technology solutions ‘as a service’ has made it possible to turn IT operations into an operational expense (OpEx), as opposed to a capital expense (CapEx), removing the need for any hefty upfront investments and replacing them with predictable monthly fees.
  • IT managers are realising that these smaller ongoing costs versus cyclic infrastructure builds are the key to bringing more value to the business and changing perceptions of IT.
  • According to a Cloud Technology Partners article, many companies carry up to 5 times the required hardware, networking, and data centre space during steady state business cycles. Most enterprises have hardware utilisation rates significantly below 20% because of the excess capacity required to handle peak demand, as a result spending much more on compute and storage than is required.
  • ...1 more annotation...
  • The cloud-based OpEx model can provide significant savings and nearly infinite agility, so it doesn’t make much sense to spend massive amounts of capital on building, maintaining, and operating data centres. This is best left to a managed service provider who does this exclusively.
  • kjeewan on 22 Aug 22
     
    Companies should forecast differently when it comes to paying for technology. Instead of using a big chunk of change (Capital expenditure) investing in equipment it only uses just about 20% of the time, it can consider consider alternative, cloud based technology for a monthly fee (Operational expenditure) This frees up money, time, and resources necessary for creativity and innovation in the company.
ying jiang

Six questions hoteliers should ask providers of cloud-based systems | Tnooz - 0 views

www.tnooz.com/...oviders-of-cloud-based-systems

cloud computing

shared by ying jiang on 26 Jan 12 - No Cached
  • Some of the key aspects of real cloud offerings include: infinite bi-directional elasticity; pay for what you use; and detailed monitoring and reporting (governance)
  • RTO  is Recovery Time Objective and RPO is Recovery Point Objective.
  • Bascially they translates into how fast will you get my application back up and how far back in time are you backing up my data.
  • ...1 more annotation...
  • One of the challenges in the early days of SaaS in the enterprise was that it was difficult to knit together different systems.
  • ying jiang on 26 Jan 12
     
    Cloud computing is regarded as a good tool for hotel. It could convert capital expenditure to operational expenditure, access to the latest version easier, and remove infrastructure management. However, there are several questions need to be asked when choose a software supplier.
chadidscha

Why CapEx spend is rising-and how hoteliers are spending money | Hotel Management - 0 views

www.hotelmanagement.net/...w-hoteliers-are-spending-money

hotel management spending business

shared by chadidscha on 15 Feb 22 - No Cached
  • Hanson said it’s important to remember that a hotel that looks new and fresh will outperform a hotel that doesn’t.
  • Curb appeal is No. 1
  • Hotels are adding new tech in lobbies, including directory boards with interactive screens and big-screen TVs, he said.
  • ...1 more annotation...
  • Another trend Hanson sees is that hoteliers are spending money on improvements that offer no additional stream of revenue. For example, a huge area of improvement comes in the way of adding more internet bandwidth.
  • chadidscha on 15 Feb 22
     
    The article address the importance of today's capital expenditure and how it attracts new and recurring guests to its properties. Some of these capital expenditures are executed for solely esthetic reasons, even adding more bandwidth to the internet is done to show its clientele that they no longer offer just the average features anymore.
Adam Herrmann

IT Investment-Calculating the value of an IT investment - 1 views

newtech.about.com/...-Value-Of-An-It-Investment.htm

shared by Adam Herrmann on 26 Oct 12 - No Cached
  • This article will give you the basic skills necessary to analyze and create a valuation for a proposed IT investment.
  • Basic IT Investment Analysis Terminology
  • Capital Expenditure (CAPEX)
  • ...7 more annotations...
  • Depreciation
  • Cash Flow
  • Discount Rate
  • Net Present Value (NPV)
  • discount the net inflow less the net outflow into a single value. If the number is positive, then the project would add value to the organization and if the NPV is negative, it would lower value of the organization.
  • Inflows: The inflows or benefits resulting from an IT investment can be subjective and less exact. Often times, the benefit of an IT investment is savings in time, client satisfaction or other "soft" numbers.
  • Outflows: Outflows are typically easier to estimate but some can be subjective as well.
  • Hui Chen on 26 Oct 12
     
    This article will give you the basic skills necessary to evaluate a proposed IT investment.These skills can be used in any industry including hospitality. At the beginning, it explains some basic IT investment analysis terminologies. Then it introduce two IT investment analysis methods: NET PRESENT VALUE; PAYBACK PERIOD. It also contains some link that would teach us how to use EXCEL to calculate data.
  • Adam Herrmann on 05 Mar 13
     
    This article explains how important it is to analyze and interpret new forms of IT technology to make the best purchase or investment. The articles starts by describing terms used in IT Investment. The first term is Capital Expenditure, which is any Expenditure not for the usual maintenance and upkeep of the hotel or restaurant. For example, a Capital Expenditure would be obtaining a new PMS or renovating your banquet facility. The next term is Depreciation, which everyone should know is the amount of money lost on an investment of the course of its life. The third and fourth terms are Cash Flow and Discount Rate. Cash Flow is "the movement of cash in and out of the business", and Discount Rate is "analysis based on the dollar being worth more today than in 5 years". The second part of the article talks about investment techniques used. Many methods are used to help make sound investment decisions like NPV. NPV is Net Present Value, which is an assessment of long-term profitability of the investment made by adding together all the revenue over its life and deducting the costs involved. Another technique used to evaluate an IT investment is the Payback Period. This helps to evaluate how long it will take to make back your initial investment in the IT. The article goes into grave detail on both of these methods and believe this article can be very helpful for hotel/restaurant managers and owners when determining which investment should be made.
Avril Emmanuel

Reducing Costs in the Hospitality Industry Using HVAC and Lighting Controls - 0 views

ezinearticles.com/?Reducing-Costs-in-the-Hospitality-Industry-Using-HVAC-and-Lighting-Controls&id=6981109

shared by Avril Emmanuel on 21 Jul 12 - No Cached
  • Maintaining quality accommodations and services while reducing costs is the Holy Grail for many in the hospitality industry.
  • state-of-the-art HVAC and lighting controls have allowed many hotels to reduce costs by promoting energy efficiency without sacrificing quality.
  • Heating, ventilation, air conditioning, and electronic appliances are some of the biggest power consumption culprits.
  • ...3 more annotations...
  • Guests are often the primary cause for the power expenditure.
  • Given these, hotels should look into intelligent HVAC and lighting controls that are not just easy to use, but that can also conserve electricity even without a guest's active involvement.
  • HVAC and lighting controls can also work through a keycard system.
  • Avril Emmanuel on 21 Jul 12
     
    This article talks about IT software that can reduce costs and energy consumption if the technology is implemented. HVAC, heating, ventilation and air conditioning, is a hotel's 'biggest power consumption culprit,' especially with guests who are not mindful of their consumption because they are not in their own homes and in essence do not have to pay. HVAC and lighting control system can be utilized without active involvement from a guest. So his or her stay wouldnt be hindered by having to keep track of their energy use. Guests do not want to be bothered with the day to day running's of a business.  This system would be greatly beneficial for a hotel to implement because it is keeping up with the latest trend, it doesn't disrupt a guest's comfort and it reduces expenditure
zxu009

5 ways tech can make your hotel more responsible | Green Hotelier - 0 views

www.greenhotelier.org/...ke-your-hotel-more-responsible

shared by zxu009 on 25 Sep 17 - No Cached
  • mploying eco-friendly technology is a great way to show guests that you’re committed to making a difference.
  • Here are five ways that green technologies can help enhance your eco-friendly reputation and boost business for sustainable hotels.
  • Eco-friendly heating and energy.
  • ...9 more annotations...
  • One way for sustainable hotels to help regulate their energy expenditure is to employ a building energy management system – a monitoring technology that gives you an overview of the energy consumed throughout your premises
  • Waste reduction technology.
  • Lighting technology.
  • Tracking and monitoring the items that are being thrown away using technology such as LeanPath will help make staff more aware of areas in which the most waste is being produced, leading to better and more informed decision making.
  • Sustainable laundry.
  • Bead cleaning technology helps hotels to reduce their energy consumption and water usage, as well as cutting down on the frequency with which the linen needs to be replaced.
  • In many cases this is due to poor stock control, with excess items being bought in.
  • echnologies like occupancy sensors are a cost-effective and simple way to ensure that lights are only switched on when they are needed – a very visible way to show your guests that energy efficiency matters to you. LED lighting is another consideration for reduced energy expenditure on lighting
  • iPad POS systems.
  • da7327 on 25 Sep 17
     
    The article introduces five ways to improve eco-friendly reputation for hotels. Recently, many tourists are interested in green and sustainability, and when they choose the hotel, the characteristic about sustainable business operation can be a big benefit tourist can consider. First, it is about eco-friendly heating and energy. The energy bill takes up a lot when considering the total expenditure, so it is necessary for hotels to manage the power effectively. By utilizing energy management system, hotel can track the energy consumption in the entire building and control the expense. Second, hotel can adopt waste reduction technology. Most wastes are coming from poor stock control. Thus, hotel should employ the tracking system to monitor the items that are being disposed of often, and use the record when they purchase the items. Third, sustainable laundry can be the way to operate the eco-friendly hotel. Eco-friendly polymer laundry beads can reduce the water usage and electricity expense. Also, an effective material can cut down the frequency for linen to be replaced. Fourth, lighting technology can be used. By applying the occupancy sensors, hotel can cut down the cost, and use energy more effectively. Lastly, it is iPad POS system. According to the article, they said iPad POS saves about 97% of power consumption compared to Window-based system. To sum up, these five ways can be adopted for sustainable hotel operation, and having the eco-friendly hotel brand will be a big advantage to increase millennial guests and advertise the hotel.
  • zxu009 on 23 Apr 19
     
    This article describes the ways to make the hotel greener and more appealing to the environmentally aware guests
mandalysha

CBRE: How hoteliers are controlling communications costs | Hotel Management - 0 views

www.hotelmanagement.net/...ntrolling-communications-costs

communications hotel management

shared by mandalysha on 20 Jan 23 - No Cached
  • A new report from CBRE analyzed the costs of phone and internet service within the information and telecommunications systems department of nearly 3,000 hotels
  • The report, which examines data from 2015 through 2019, found a significant upward trend in telecom-related expenditures.
  • the data also revealed a steep decline in revenue generation from charges for phone calls and internet access
  • ...10 more annotations...
  • From 2015 through 2019, total operating expenses increased at a compound average annual growth rate of 2.2 percent at the properties in the study
  • During this same period, the hotels’ cost for telecom service increased at a CAGR of 9.7 percent
  • As part of efficient cost control, organizations within the industry are undergoing IT audits
  • the cost of internet service increased at an average annual pace of 16.1 percent
  • The 9.7 percent combined CAGR for telecommunications cost is more than three times the CAGR for any other individual hotel department cost during the same five-year period
  • Telecom costs increased the most in the upper-midscale (CAGR 21.5 percent) and upscale (CAGR 13.9 percent) chain scales
  • Individually, the cost of phone service rose by a CAGR of 5.7 percent
  • organizations are upgrading certain technologies
  • consolidating telecom vendors across portfolios
  • Owners may be able to upgrade a Dedicated Internet Access to current market pricing—saving 20 percent in the process—while improving the speed capabilities by 200 to 300 percent
  • mandalysha on 20 Jan 23
     
    A report from CBRE analyzed the costs of phone and internet services within the information and telecommunications systems department of nearly 3000 hotels. There is an upward trend in telecom-related expenditures with a decline in revenue generation from phone call charges and internet access. Three ways to control these costs are undergoing IT audits, consolidating vendors across portfolios, and upgrading technologies.
nunes305

Capital Expenditures in Technology - 5 views

www.investopedia.com/...obsolescencerisk.asp

Hospitality_Technology

shared by nunes305 on 14 Jan 21 - No Cached
  • Obsolescence risk is the risk that a process, product, or technology used or produced by a company for profit will become obsolete, and thus no longer competitive in the marketplace. This would reduce the profitability of the company. Obsolescence risk is most significant for technology-based companies or companies with products or services based on technological advantages.
  • nunes305 on 14 Jan 21
     
    Capital Expenditures in Technology
marylauren1717

protel cloud solutions create benefits in the near term - 0 views

www.protel.net/...hybridcloudsolutions

cloud protel software

shared by marylauren1717 on 15 Jan 13 - No Cached
  • The benefits are impossible to ignore: Lower overall cost, no requirement to build and own an IT infrastructure, no need to bother with maintenance and data security, and the ability to add and subtract capacity as needed.
  • The sole requirement to use cloud applications such as the hotel management software protel Air or the new protel Web Booking Engine is an Internet browser.
  • To reap the benefits of the cloud, however, hotels are not required to move their entire IT infrastructure online.
  • ...1 more annotation...
  • The introduction of the cloud to the hospitality industry will play a large part in stimulating the faster deployment of new services to both companies and customers, and for both it will restore something unique: a choice.
  • marylauren1717 on 15 Jan 13
     
    Hotel software provider protel has jumped on the cloud computing bandwagon by launching a web-based product line. As stated in the article, the benefits are endless, including but not limited to: lower expenditures, no IT infrastructure required, ability to add capacity as needed, etc. Protel only asks that their hotel clients have access to an Internet browser in order to run protel Air or the new portel Web Booking Engine.  Contrary to popular belief, hotels are not required to convert their IT infrastructure entirely online. With protel Air, these hotels are able to combine cloud and on-premise solutions in order to utilize their existing infrastructure while reaping the cloud benefits. With such hybrid solutions all the rage, costs are being significantly reduced while enabling efficient and effective business processes.  Personally, I believe all hotels should convert to a hybrid infrastructure, if not completely run on the cloud. With the average consumer relying on internet interaction every day, guests are accustomed to instantaneous results and information. Software such as protel Air and WBE will help the hospitality industry grow in the technology world. 
jazminesnyder

Six Technology Trends Revolutionising The Hospitality Industry | By Calum McIndoe - 1 views

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

technology trends hospitality industry

shared by jazminesnyder on 10 Jun 14 - No Cached
  • Firstly, upfront investment is lower with the cloud as there are no initial hardware costs or associated expenses such as full time, in-house IT staff to maintain the system. Secondly, hotels like the idea of taking the headache and distractions of IT off their site, leaving them free to focus on the day-to-day business of looking after their guests.
  • tablets and smartphones revolutionise the way we interact with technology.
  • City Nites accesses its hotel management system on Apple iPads to eliminate old-fashioned, manual registration desk processes. This enables hotel team members to 'meet and greet' their guests at any location, improving the personalisation of the check-in experience and reducing the costs associated with static reception desks and all their technology at each location.
  • ...19 more annotations...
  • The online reputation of a property is business critical. It does not however, stand alone as a marketing department concern, but relates directly to daily operations.
  • the technology systems in use - especially those in large chains - must account for the global perspective.
  • Integrating these systems can provide more comprehensive management information, faster reporting and a truly comprehensive view of profitability.
  • Elsewhere, integration offers the possibility of being able to "revenue manage" the guest across all areas of their stay: this requires transaction level interfaces but need not be complex to use. Critically it aligns the marketing -based personalised offering with the financial outcome of the revenue secured.
  • Customers expect their experience within a hotel to be totally personalised to them:
  • However, the savings and improvements that technology can deliver mean that managers and directors really need to keep one eye on these six trends.
  • However, the savings and improvements that technology can deliver mean that managers and directors really need to keep one eye on these six trends.
  • However, the savings and improvements that technology can deliver mean that managers and directors really need to keep one eye on these six trends.
  • All of these trends have already brought about a profound change in the hospitality industry - and they will continue to disrupt and redefine operations. From the back office to front of house, from the hotel to the corporate office, the technology that underpins these changes will deliver a sharp competitive edge at all levels.
  • All of these trends have already brought about a profound change in the hospitality industry - and they will continue to disrupt and redefine operations. From the back office to front of house, from the hotel to the corporate office, the technology that underpins these changes will deliver a sharp competitive edge at all levels.
  • However, the savings and improvements that technology can deliver mean that managers and directors really need to keep one eye on these six trends.
  • However, the savings and improvements that technology can deliver mean that managers and directors really need to keep one eye on these six trends.
  • the savings and improvements that technology can deliver mean that managers and directors really need to keep one eye on these six trends.
  • All of these trends have already brought about a profound change in the hospitality industry - and they will continue to disrupt and redefine operations. From the back office to front of house, from the hotel to the corporate office, the technology that underpins these changes will deliver a sharp competitive edge at all levels.
  • around 85% of the queries we see from hospitality companies and hotels include a serious look at cloud computing.
  • The sum total of these drivers is that cloud technology is no passing fad: for the hospitality sector it is the new norm.
  • the low capital expenditure investment for mobile hardware and much reduced software costs mean that mobile is a viable option for small independent properties, looking to develop customer service as a competitive edge.
  • As such, social media monitoring MUST be interfaced with the hotel management systems so that swift, appropriate action can be taken.
  • it is embedding the process of capturing guest preferences and proactively using that data.
  • ypere044 on 10 Jun 14
     
    This article gives us a glance at six different technological trends being used and "revolutionizing" the hospitality industry. The six trends are cloud/software services, mobility, social media, personalized systems, integration, and globalization. The trends are all seen across the board in hospitality nowadays and are making huge changes in the industry. We have been talking about cloud computing and the pros and cons of using a cloud to store information and even with all the controversy, companies are investing and using the cloud. The use of tablets and smartphones has changed the way we interact with technology and the hospitality field is not staying behind. They are developing mobile sites and apps to help customers look at pictures and reviews about a place, check in and check out or make other arrangements. Social media is also revolutionizing hospitality by creating a reputation for businesses whether they be positive or negative. People can freely post about whether they enjoyed their stay at a certain hotel and helps build the online reputation of the company. In addition, more and more companies are looking to become more personalized experience. When I think about this part, I think mostly of the new systems rolling out at Disney World that scream personalization, guests can select their Fastpasses ahead of time, can use MagicBands to purchase things, get into their hotel, get into the park as well as to utilize the Fastpass system and every time a MagicBand is scanned at a touchpoint, the cast members know the person's name and whether they are celebrating something. With integration, customers and staff can access information from different departments all on one system and with globalization companies are trying to use systems that are global and used worldwide. 
  • ...1 more comment...
  • haelidenton on 30 Aug 14
     
    As technology continues to grow, it's hard for hotels to keep up. But, there are six trends that could be very beneficial to hotels. The first being the Cloud/Software as a Service. If hotels begin to use a cloud based hotel management system, it would reduce cost of ownership by minimizing property hardware. As well as take the burden of maintaining the system off IT. Another trend that is growing is using mobile devices, such as tablets, to interact. Some hotels have recently decided to use Apple iPad's at the registration desk. This is an idea that needs to grow in the hospitality industry, because it increases the personalization of the check-in experience and reduces costs involving technology at the reception desk. Social media has a huge impact on the hospitality industry. There are reviews, referrals, and other types of communication about hotels on every type of social media. It is crucial that hotel management monitors and addresses every type of social media, in order to respond appropriately and take action. Being able to integrate the operating systems of all the amenities of a hotel (accommodation, event catering, the spa, etc.) is another tool that would be beneficial to the hospitality industry. This would provide better management information, faster reporting, and will allow management to view profitability. Last but not least, the last major trend the hospitality industry needs is globalization. As international travel, trade, and business grows, hotel companies will need to create different management tools in order to survive. International links are important for the hotel industry. Which means technology systems, need to be global.
  • ravicka on 15 Jan 15
     
    Technological developments continue to have a great effect on all aspects of our lives, the hospitality industry not being an exception. Calum McIndoe in his article "Six Technology Trends Revolutionising the hospitality industry" outlines areas of technology that managers within the industry need to take advantage of. Cloud technology, though this concept is fairly new it can provide great financial benefits to companies as it cuts cost greatly due to the fact that it eliminates the heavy hardware requirements traditional technology offered. Mobility, the fact that portable devices can add a competitive edge to the service offered. Think traditional services being provided on the go away from a fixed station. Social; the popularity of social networking sites have changed the face of hospitality and tourism marketing completely. Properties are now forced to monitor social networking sites to learn about customer demands and to also learn about the image their company has out there and how they can improve it. According to Mr. "for any hotel to not at least monitor social medis is tantamount to willingly flying blind." Personalized systems; value for customers within this industry has to do greatly with the personal touch added to the service delivered. These merged systems allows properites to use data to ensure that guest needs are met. Integration; the joining of isolated systems used in all areas of operations on the property. The use of integrated systems allows for the pulling of data from the different departments thus ensuring proper management of services delivered and revenue management. Globalisation; It is important that hospitality companies adapt to changes and trends brought about by globalisation. Whether the current global outlook is taken into consideration when considering how a company operates can greatly impact the final product.
  • jazminesnyder on 26 Aug 15
     
    ((NOTE: The author already highlighted the article in yellow when I found it, my personal highlighting is in PINK. Sections 5 and 6 are not highlighted in pink because I agree with the parts that the author highlighted yellow in those sections; Diigo toolbar will not let you highlight over something that has already been highlighted.)) This article mainly focuses on the technological changes in the hotel industry in pertinence with storing hotel information versus the traditional method(s) used by hotels that involved little to no technology at all. The article lists six different points or examples and states that businesses, especially small or upcoming businesses, need to follow by these six trends. The part of the article that stood out to me the most when reflecting on the lectures and power points for this week is the first trend. The first trend speaks about a "cloud" software (which I am not really familiar with so excuse me if my explanation is not 100% sound) and announces that "around 85% of the queries we see from hospitality companies and hotels include a serious look at cloud computing". The author lists a few reasons why such a high percentage of hotels are doing it this way. He basically says that you do not need special staff or special training to maintain the system; the system maintains itself so you can have more time to focus on your guests and trends in their patterns. Also, as far as the cost is concerned, "upfront investment is lower with the cloud as there are no initial hardware costs or associated expense…". Even though I am not very familiar with this service just yet, I like the idea of freeing up employee time to go and interact more with the customers; attending to the customers' needs is the most important thing in my eyes. The article goes on to list mobility, social media, personalized systems, integration, and globalization as all equally important parts to this revolution of technology pertaining to the hospitality industr
Manali Rabari

Hotel Room Rates Undergo Closer Inspection by Corporate Buyers - 4 views

www.hospitalitynet.org/...4057062.html

shared by Manali Rabari on 09 Sep 12 - No Cached
  • Corporate buyers will be able to gain greater control over hotel room rate negotiations and compliance with the inclusion of intelligent rate parameter data in their benchmarking reports. RateTiger’s introduction of rate filtering technology to its award winning rate data product, RTCorp, will provide direct hotel pricing comparisons in line with hotel product type.
  • Corporate buyers will be able to gain greater control over hotel room rate negotiations and compliance with the inclusion of intelligent rate parameter data in their benchmarking reports. RateTiger’s introduction of rate filtering technology to its award winning rate data product, RTCorp, will provide direct hotel pricing comparisons in line with hotel product type.
  • orporate buyers will have the business intelligence to match travel expenditure to their budgets and give travelers greater flexibility of hotel choice based on Best Available Rates (BAR).
  • ...3 more annotations...
  • “Corporate travelers are noticing fluctuations in Best Available Rates (BAR) online and need to compare these public prices to their negotiated contracts to ensure they are getting the best deal
  • Corporate buyers will have the business intelligence to match travel expenditure to their budgets and give travelers greater flexibility of hotel choice based on Best Available Rates (BAR)
  • “Buyers need to shop rates that are comparable to their purchases, by setting simple filters that identify room types and meal plans, etc therefore making more accurate price comparisons. Crucially all filters are shopped regardless of the specific view defined. This allows the user to change the parameters after the shop without the need to shop again, making more detailed data available faster.”
  • Jenan Williams on 09 Sep 12
     
    As technology continues to advance, companies are looking into what works well for what kinda consumer. RateTiger is targeting corporate consumers, who want to be in control of room rates and have the ability to negotiate better deal based on services provided. RTC uses RPS, rate parameter shopping that searches thru hundreds of travel sites, hotel brand sites and GDS offeres corporate buyers, OTA's and travel companies the opportunities to build a rate around the best room rate for the perks and services, in comparison to what the public pays.
  • Nelson Placa on 09 Sep 12
     
    Excellent Article!...While corporate travelers are noticing fluctuations in "Best Available Rates (BAR)" I can only imagine that hotel owners and stakeholders are seeing a decrease of revenue caused by the ADR (Average Daily Rate). During the recession hotels had to re-shape their thinking and lower Corporate Room Rates to stay afloat; these changes caused the ADR to be lower than usual. As the economy improved, it has been harder for companies to re-negotiate corporate rates in an attempt to increase the ADR and profits for owners/stakeholders. http://www.bcdtravel.com/global/show_document.asp?id=aaaaaaaaaadsveg
  • Manali Rabari on 14 Sep 12
     
    This technology will provide business travelers the ability to compare hotel prices based on the type of rooms. This will help the customer in customizing their own needs during travel, while being price savvy. The traveler also has the ability to have default settings that will meet their own room specifications.
LU DENG

Six questions hoteliers should ask providers of cloud-based systems | Tnooz - 0 views

www.tnooz.com/...oviders-of-cloud-based-systems

shared by LU DENG on 07 Sep 12 - No Cached
  • Cloud/SaaS can bring many advantages over on-premise solutions for hoteliers. Among them: Conversion of CapEx (capital expenditure) to OpEx (operational expenditure); Access to the latest version without the pain often associated with upgrades; Removal of the burden of application and infrastructure management; and Potential for heightened security beyond internal capabilities.
  • 1. Is it really cloud?
  • In addition, the cloud is being used by the federal government and financial institutions, both of which likely have stricter, more complicated regulatory requirements than most hotels.
  • ...6 more annotations...
  • But in evaluating whether to choose a cloud/SaaS solution over on premise you also need to do an honest evaluation of your own IT organization’s ability to manage your infrastructure. Google’s cloud-based Gmail service offers 99.984% availability, which is 46 times better than the average Microsoft Exchange implementation.
  • 2. Do you have Service Level Agreements on RTO/RPO?
  • 3. What are the availability SLAs?
  • 4. Is there an offline mode?
  • 5. What about integration?
  • 6. How can I get my data back out?
  • LU DENG on 07 Sep 12
     
    Cloud computing is becoming more and more popular in today's business world. What are the main advantages that cloud computing can bring to Hospitality industry? Through the article I found the answer which are also the concerns of hoteliers that are a lower cost and a higher security environment. For instance hotel companies can be access to the latest version of what they are using without paying too much to buy related software. Secondly since the cloud is being used by federal government and financial institution which have higher level of regulatory requirements than most hotels, hotel companies can feel more safety in applying this high-tech in their business. But nothing is perfect. The author mentioned in this article that before we choose cloud service, we should get to know some information about the hospitality software suppliers. As for me I concerned about whether they have an offline mode which can continue the business activities for a while when the internet disconnection happens. For example how could hotels make sure the check-in, check-out, and reservation activities go on successfully when something wrong with the internet. The second concern for me is how could I get my data back if I discontinue my service in certain provider. Hoteliers should have ways to protect their data and other business activities. Cloud computing is developing very quickly and it will benefit us a lot only when we get to know the right way to use it. 
ning sun

7 tech issues that keep your GM up at night - 1 views

www.hotelnewsnow.com/...-that-keep-your-GM-up-at-night

shared by ning sun on 16 Jan 12 - No Cached
  • ning sun on 16 Jan 12
     
    This article talks about 7 tech issues to keep your GM up at night which are convergence, reputation management and review tracking, bandwidth, PCI compliance, in-room technology, technology and ADA, in-room television. In my opinion, as a hotelier, he or she should stand both on manager and guest position to consider operate a hotel. From a manager view, they are trying to make maximum profit with minimum cost. The profit comes from comfortable environment, convenient electronic devices, considerate human interaction. Those 7 tech issue provide a detailed list about how to improve hardware in hotel to reach a cozy and speedy living environment goal. From a guest view, they are trying to gain more delight experience with less expenditure. The devices that hotel provided and service that they rendered lead guests into a homelike place. So those 7 tech issues are beneficial for both two sides.
Yaping Li

E Business Strategy -e commerce business strategies | Economy Watch - 1 views

www.economywatch.com/...e-business-strategy.html

shared by Yaping Li on 31 Jan 12 - No Cached
  • E Business Strategy can be summarized as the strategies governing E Businesses through calculated information dissemination.
  • E-business diverges from the traditional sphere of business by speeding up the business activities and giving a totally new dimension and definition to businesses worldwide be it whether partnerships, joint ventures or large corporations.
  • YUCHEN TI on 31 Jan 12
     
    This article gave us a highlight information of e-business strategy, E business has been added as the latest domain in business and has become a must-have in the highly competitive technology driven open market. E Business Strategy can be summarized as the strategies governing E Businesses through calculated information dissemination. E-business can help company reach to the international market and use minimal cost. There have some E-business models, such as MRP (Material Requirements Planning), EDI (Electronic Data Interchange) or ERP (Enterprise Resource Planning). And e-business strategy would general included : supply chain management, customer service and customer relationship management, inventory and service management integration and tactical operations alignment.
  • Yaping Li on 15 Sep 12
     
    From this article, the-business plays an important role in today's world. By the e-business, the trade can be made on the internet. It is very convenience for the global businessman who can reduce the cost and make more profit. The supply chain management and email marketing are the essential features of the e-business. With the help of the e-business strategies, the wholesalers and retailers can handle with different products. They can discuss the price, quantity and other detail information on the internet. Else, the trade can be observed by the internet that will offer a good environment for the businessman. In addition, the effective e-business can make sure the customers will have a good service. And it also can avoid the unnecessary purchase steps and expenditures.
ernestbailey

Stop Saying CapEx Vs. OpEx in Cloud and SaaS Models - Thinking Out Cloud - 0 views

gevaperry.typepad.com/...stop-saying-capex-vs-opex.html

shared by ernestbailey on 24 Sep 13 - Cached
  • ernestbailey on 24 Sep 13
     
    Article provides discussion on beneficial reference to the idea of moving expenditures from Operating Expenses (OpEx) vs Capital Expenses (CapEx) when determining cloud vs static installations/deployments to gain economic benefit. Article discusses some of the misconceptions that cloud (IaaS, SaaS or PaaS) have a cost advantage vs static. Additionally, discussed are foundations of general accepted accounting principles (GAPP) in the explanation of OpEx and CapEx. Also expanded on the concept of "cloud requires no upfront investment" vs time value of money (TVM) model. TMV is the a concept used in accounting used in the comparison of two or more financial outcomes. Article applies this concept to values across current cloud service vendor offerings (2009). The author also provides a calculation to evaluate an Instance level cloud deployment can reach same cost as static in three-years.
smaka004

Cornell Study: Sustainability Certification Boosts Hotel Performance - Business Travel News - 0 views

www.businesstravelnews.com/...ation-Boosts-Hotel-Performance

shared by smaka004 on 08 Sep 14 - No Cached
  • Prior to certification, the LEED-certified hotels had an average daily rate that was $10 higher than the noncertified hotels. In the two years following the certification, that average premium jumped to $20, according to the study.
  • "The LEED hotels quickly made up the occupancy deficit recorded in the year prior to certification, and they outperformed competitors for two years following certification."
  • smaka004 on 08 Sep 14
     
    A recent study by the top-ranked School of Hotel Administration at Cornell University has found that certification by the U.S. Green Building Council's Leadership in Energy and Environmental Design, also known as LEED certification, actually provides a boost in revenue for hotels. The Council takes various factors into account prior to certifying a hotel, including "water efficiency, energy use, and indoor environmental quality. When compared to 514 non-certified hotels, the 93 hotels afforded LEED certification excelled in their gross income based on the average daily rate (ADR) standard. Over a time of two years, the LEED-certified hotels outperformed their non-certified competitors. In fact, LEED-certified hotels were able to match the levels of occupancy of non-certified hotels in a single year. Since LEED certification in the hospitality industry is fairly new, there is little empirical evidence to further back the conclusions of this particular study. Though LEED certification of hotels has actually declined since 2010, I believe that the more hotel controllers start to understand its benefits, the quicker we will see it adopted as an industry standard. It is worth noting that this study specifically focused on 93 upscale and luxury properties, but compared them to nearly five times as many hotels without certification. I think a more accurate study will divide up hotels based on their pricing category (budget, midscale, upscale, luxury, extended stay, etc.) and compare the benefits of LEED certification with that in mind. Lastly, it is unclear if the study found any higher level of consumer preference for LEED certified hotels. Instead, the benefits seem to come with the standards that LEED certified hotels must meet, in turn resulting in lower expenditures. Perhaps more sophisticated customers at luxury properties are more keen to environmental protection and stewardship, and thus take LEED certification into account. However, I believe that most of
irinatroitskaya

Giving the PMS a Competitive Edge | News | Hospitality Magazine (HT) - 0 views

hospitalitytech.com/giving-pms-competitive-edge

shared by irinatroitskaya on 07 Oct 17 - No Cached
  • The PMS has become the true workhorse of hotels, pulling in and pushing out data from a myriad of places, and increasingly expected to do more on both enterprise and customer-facing levels.
  • More than half (57%) of hotel operators already have or plan to migrate the PMS above property within the year.
  • HT’s 2016 Customer Engagement Study found that 62% of guests want mobile check-in, but only 39% of hotels offer it.
  • ...2 more annotations...
  • More and more PMS systems are offering integration or compatibility with central reservation systems and channel managers.
  • one of the major advantages of having a PMS is the data.
  • irinatroitskaya on 07 Oct 17
     
    The article highlights the crucial points of recent PMSs. The systems are developing constantly providing hotels with additional features and, thus, giving them more opportunities. About 48% of hoteliers are planning to upgrade their PMSs this year. Moving to the cloud is becoming a trend, mainly because of the high costs of the traditional PMSs and necessity of frequent server upgrades. This allows hotels shift costs from capital expenditures to operating expenses. Mobility gives more flexibility both to the guests and the hotels. Managing hotel becomes more hands-on experience than before. Modern PMSs significantly improve communication with guests as well as help hotels in gathering essential data to better understand and serve their customers.
1 - 20 of 74 Next › Last »
Showing 20▼ items per page