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15 Best Online Ordering Systems for Restaurants in 2021

by
Hotel Tech Report
1 month ago

Online ordering for restaurants will continue to be a major revenue stream in 2021. In part, off-site online ordering can help you grow revenue by tapping new customers and on-site online ordering can help you grow revenue by maximizing revenue from on-premise guests.  Statistics show that Gen Z and Millennials will continue to favor online ordering long after the pandemic is over. If you’re new to online ordering, the number of platforms available to you can be overwhelming. You are likely familiar with food delivery partners UberEats or GrubHub, but there are also ordering systems that allow customers to order directly from a restaurant. In fact, those direct online food ordering tools are a win-win for both you and your customers: you get to keep the full amount from each sale, while most consumers say their preference is to order directly from a restaurant. This guide breaks down the 15 top systems for implementing online ordering at your restaurant. We break down our list into two groups: (1) on-site: these are mobile ordering solutions that can be used to order food and beverage while at a restaurant and (2) off-site: these are solutions that help restaurants take online orders from off-site patrons. From POS-specific tools to user-friendly apps, here are the platforms that can deliver the best ROI from your restaurant’s online delivery, curbside pickup, and takeaway orders in 2021.   What to Look for in a Restaurant Online Ordering System There are really three ways to implement an online ordering system at your restaurant. The first is through your restaurant’s point-of-sale (POS) system. A POS with online ordering added on will do the work of taking orders, routing them to the kitchen, and alerting the front-of-house staff when a customer or delivery person is picking up the order. Look for a POS that makes it easy to set up an ordering page through an e-commerce integration like Shopify. A second option is to see if your POS integrates with a third-party ordering app. Some POS systems won’t have native online ordering software built into the interface, but they can sync with an app for an additional cost. Upserve, Toast, and Square for Restaurants are all examples of restaurant POS systems that can accept online orders. The advantage of using this option is that there is relatively little you need to do to get set up and start accepting orders; you’ll also be able to store customer order information in one unified record, combining transaction details from in-restaurant dining with online ordering records. The last option is to use a marketplace delivery app like UberEats or Door Dash. These apps are specifically created for the restaurant industry, and can therefore be very intuitive to implement and start using. However, watch out for high fees and compatibility issues –– third-party apps can take between 10% - 30% of each sale they deliver. When evaluating which of these options is right for your restaurant, consider these variables:  Cost: third-party ordering apps and marketplace delivery apps sometimes charge a yearly subscription or take a percentage of each sale.  Visibility: third-party apps may cost more, but they offer a way to reach customers who may not know about your restaurant.  Ease-of-use: make sure whatever platform you use is intuitive for your staff and doesn’t lead to a traffic jam in the back-of-house.  Compatibility: does the solution you’re considering integrate with your existing system? Customer loyalty: a marketplace app may give you visibility, but it comes with the disadvantage of not giving you much customer information that can be used in marketing to increase loyalty.  Customer experience: how easy is it for a guest to browse your menu, make a selection, request modifications, and pay? An online ordering system may seem like a big investment, but it’s one that will continue to bring in revenue well beyond the pandemic. By some estimates, restaurant delivery sales could rise an annual average of more than 20% to $365 billion worldwide by 2030. With these factors in mind, here are the ten best online ordering systems for restaurants in 2021.   Best Online Ordering Systems for Restaurants in 2021 (On-Site) Here are our picks for the best POS apps and integrations for hotel restaurants in 2021. These platforms help restaurants facilitate online orders at physical locations - think bars, restaurants, hotel room service, poolside, etc.  As you explore these solutions you may also want to review our in-depth guide to mobile ordering software.   Bbot Smart Ordering Bbot’s online ordering system works for just about any type of food business - take-out, delivery, in-venue dining, catering, and more. The system is fully web-based, and operators can upload, edit, and add branding to their digital menus from the dashboard. Customers can order in-venue or off-premise with a few taps on their smartphones, and payment is processed securely without the need for physical credit cards or paper receipts. Bbot supports NFC payments, ApplePay, GooglePay, and QR codes. The app charges a monthly subscription fee, but businesses can sign up for a free trial before committing.   RoomOrders Designed for hotels and resorts, RoomOrders offers a cloud-based ordering and payment platform that works not only for F&B outlets, but also for pools, golf courses, gift shops, and other vendors. Operators can configure their menus or catalogs on the RoomOrders dashboard for easy viewing and ordering from anywhere - on- or off-premise. Customers or guests on-site can access the menu by scanning a QR code or tapping their smartphones on an NFC tag. RoomOrders charges a $50 monthly fee per venue plus a 1-5% fee per transaction, though transaction fees at additional venues within the same property are a flat 1%.   ServeSafely (by Crave) This online ordering and payment system is suitable for all kinds of F&B venues, from restaurants and bars to concert venues and nightclubs. ServeSafely optimizes revenue and profitability with upsell features, customizable menus, and tools to boost sales of higher-margin menu items. In addition, ServeSafely complies with GDPR marketing permissions so operators can use customer contact information to generate repeat sales and loyalty. Guests can access menus by scanning QR codes, and payment is completely contactless with ApplePay or Google Pay. As a bonus, users say that Crave’s customer support team is helpful and responsive. ServeSafely charges an implementation fee plus a monthly service fee.   SABA F&B Ordering SABA’s web-based ordering app allows guests to browse digital menus and place orders from anywhere. Operators can create menus that are easily editable, contain upsell offers, and support multiple languages. Guests can access the app by scanning a QR code or clicking a link on the property’s website or social media pages, and operators have the option to embed the app on in-room tablets or existing hotel apps. Besides F&B, hoteliers can also configure the app to place minibar orders and housekeeping requests. SABA charges a monthly fee, and a 30-day free trial is available to try before you buy.   Flexkeeping Though it was originally created as a housekeeping system and staff communication platform, Flexkeeping’s software can flex to a variety of needs and situations. The app’s room service module lets hoteliers digitize their in-room dining operations, from ordering to analytics. Hoteliers can create digital menus, configure instant notifications for staff, and see real-time order status. Flexkeeping also gives operators insight into their most popular dishes, order times, and total order volume, and it has integrations with popular property management systems such as Mews. From a guest’s perspective, the ordering process is quick and easy. Flexkeeping offers a 30-day free trial; after the trial, the software comes with a monthly subscription fee.    Best Online Ordering Systems for Restaurants in 2021 (Food Delivery, Off-Site) Clover Online Ordering Clover Online Ordering enables your restaurant to start taking online orders through two options: a Clover-powered web page created for you or the Clover app, or through The The.Ordering.app. Clover does the heavy lifting to get you set up with an online menu, increasing your visibility to customers, firing orders to the kitchen, and sending alerts when an order is ready for pickup. A key benefit to Clover Online Ordering is that it also keeps track of customer information: add reward, promo, and customer feedback programs to reward your loyal fans. The drawback to Clover Online Ordering is that you do need a Clover POS device (Station, Station Pro, Mini, and Flex) connected to a printer. It may not be the best solution if you’re not already using this technology. There are no fees associated with Clover’s ordering services, and Clover is waiving The Ordering.app fee of 1.5% per order is until January 1, 2021.   Chownow Online Ordering Chownow is commission-free, making it a good bet for restaurants looking to maximize revenue for each sale. Chownow is a third-party ordering app that integrates with your POS system and offers many options for capturing online orders. Get a branded mobile app for your restaurant, or give customers the ability to order straight from your website (rather than through a third-party like GrubHub). Integrations with Yelp, Instagram, and Google serve to increase your restaurant’s visibility and boost orders quickly. Chownow charges a flat subscription fee of $99 - $150 per month, depending on which features you use. That can be expensive, but note that Chownow also offers configurations for in-restaurant and curbside pickup, expanding your restaurant’s ability to serve customers with ease.   Toast POS Toast is similar to Clover, in that online ordering is only available through the Toast POS system. That said, Toast is built for restaurants and comes with tons of features to help you save – boosting both revenue and profit margins in the process. The company reports that restaurants save an average of $36,000 per year with Toast Online Ordering. This is due to a wide selection of built-in features, including a loyalty program, the ability to create and accept gift cards, and inventory management for your restaurant – in addition to online ordering. Toast offers a free calculator to help you estimate how much your restaurant could be saving by switching to their online ordering system. Like Chownow, Toast is subscription-based and does not charge a commission per sale. However, you do need to factor in the costs of switching to their POS hardware in addition to software fees.   FreshBytes FreshBytes is designed specifically for small and medium-sized businesses – and it offers the same powerful features from which large chain restaurants benefit. “Applauded as one of the simplest and fastest emerging online ordering platforms in the times of COVID-19, FreshBytes offers branded, mobile-friendly, and commission-free services with fully integrated online ordering features — premium website designs, social media ordering, one-touch reordering, print kitchen tickets, consultative onboarding, 24/7 customer support, and smart messaging,” writes one reviewer. FreshBytes also stands out for its focus on the customer experience. Features like menu item photos and one-touch reordering make it extremely user-friendly. It also allows for catering orders, a great feature for hotel restaurants. Pricing starts at $89 per month.   GloriaFood If you’re looking for a holdover solution to offer online ordering only until the pandemic is over, GloriaFood might be the right solution for your restaurant. If you already have a website, and just need an integration to accept orders try GloriaFood. It provides a "See MENU & Order" or "Table reservation" widget to your website to make the online ordering process fast & easy. The best part: the basic system is completely free. Accept unlimited orders for pickup or delivery without paying any commission – nor are there setup fees or hidden costs. You may need to pay for “upgrades” – essential features like accepting credit cards – but overall, this is a low-cost solution that can tide your restaurant over until in-restaurant dining returns.   MenuDrive MenuDrive offers all the basic features of online ordering with a focus on marketing. “MenuDrive is a great option for restaurants that want to create a branded ordering experience on their website. Users are able to customize their POS and online ordering system by sending their menu, product photos, and other branding materials to MenuDrive, who then puts it all together,” says one reviewer.   It not only offers a way to customize your online branding, but automated email campaigns and integrated marketing services help your restaurant build a dedicated customer base. The downside is that MenuDrive can be a little more expensive: the basic plan starts at $99 per month per location along with a $99 one-time setup fee. They also a 3.5% credit card processing fee + 15¢ per transaction.    Upserve Upserve is a nice option if your restaurant is a cafe or coffee kiosk: its restaurant management system has options for bars, wineries, coffee shops and bakeries. Upserve integrates with other online ordering marketplaces, like Postmates, DoorDash, Caviar, and UberEats, giving you the best of both worlds – a fully-branded ordering experience, and the visibility of a third-party delivery partner. This ordering system also gives you analytics so you can track your restaurant’s performance and made adjustments for higher guest satisfaction scores.  Upserve also offers a POS system and plenty of other restaurant management tools. Plans start at $59 per month with $60 per additional terminal.    Square for Restaurants  Like Clover, Square for Restaurants’ online ordering tool requires the use of the Square Terminal and Kitchen Display System (KDS). If you already have those tools, online ordering by Square is streamlined and efficient. No matter through which channel an order comes – Postmates, UberEats, or Chowly – the kitchen receives the order in one easy interface. There are a few options for how you choose to configure the order flow, too. Online ordering is part of Square for Restaurants, which is offered in three pricing tiers. If you already have Square for Restaurants, it’s easy to simply enable delivery services through your dashboard.   The Ordering.App It was only a matter of time before Google started to get involved in restaurant online ordering. The Ordering.App is Google’s online ordering tool. A key benefit of the Ordering.app is that it allows customers to order right from your website, Google Search, Google Maps and more. This gives your restaurant great visibility and reach, and decreases the number of steps a customer has to complete to send an order to your restaurant. It integrates with both Square and Clover, and also comes as an app that you can download straight to your tablet or mobile device. The Ordering.App is affordable: no setup fees or subscription costs, and right now through March 30, 2021 The Ordering.app is waiving its 1.5% per order fee to help support restaurants during the pandemic.   Restolabs Restolabs is another popular option that offers easy setup and 0% commission. A nice feature is Facebook ordering, in which customers browse your menu and use the Restolabs widget to order straight through your social media page. Pricing starts at $45 per month.    For more on restaurant ordering systems, download our free Guide to Mobile Ordering and Room Service Software for 2021.  

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The Ultimate Guide to Hotel Stocks in 2021

by
Hotel Tech Report
2 months ago

The tourism industry is slowly coming off its worst year in history. Last year saw the lowest occupancies in the history of the industry.  Business travel was completely shuttered, and leisure struggled in most markets as planes were grounded.  Often in the darkest of hours, the best stocks and investing opportunities present themselves. Now, travel outlooks remain cautious but optimistic. Hotels are reopening and accepting bookings and the share prices of publicly traded hotel stocks as well as hotel REITS, or Real Estate Investment Trusts, are shifting back to post-Pandemic levels. The uptick in these share prices is inline with Wall Street’s overall performance lately. With the vaccine rollout combined with Congress’ $1.9 trillion fiscal stimulus package have boosted investors’ confidence. They were also encouraged by the Labor Department’s jobs report for February showing that employers added hundreds of thousands more jobs than expected. In turn, the S&P 500 and the Dow Jones Industrial Average both showed gains, an indicator that the market could be headed towards an upswing.  So whether you’re new to investing or already have experience in other investment sectors, now is the time to consider putting your money in the hotel sector. It’s an opportunity to put the adage “buy low, sell high” to the test. Once travel and tourism return to pre-pandemic levels, so will these stock prices. If you follow the traders on Reddit’s Wall Street Bets (WSB), you’ll know that the “tendies” or financial gain on the stock market, are lower when you buy stocks at their peak. Like this group of non-traditional Reddit investors and cryptocurrency speculators, accessing the metrics on hotel stocks should also reflect the new normal that we’re living in. Gauging a stock’s one-year, three-year or five-year performance today won’t present an accurate picture of its future potential as the drastic dip that all stocks experience in 2020 will dramatically skew that outlook.   Hotel Chain & Casino Stocks There are also a variety of hotel investments to consider, which translates to a number of diverse money-making opportunities. There are, of course, the major hotel brands like Marriott International Inc. and Hilton Worldwide Holdings Inc. as well as casino resorts like Wynn Resorts Limited and Caesars Entertainment, with which you’re probably already familiar. These are C-corporations that are primarily built on the business of hotel management, marketing and branding and often, franchise licensing. They pay corporate taxes on dividends. This popular mid- to large-cap stocks are popular investments because their brand names are well established globally and investors have likely stayed in the hotels. That first-hand experience of the products also tends to result in positive sentiment among investors, which helps to keep stock prices at reasonable levels and make them relatively safe bets. Prior to the pandemic, the most noticeable trend happening among these hotel companies was the introduction of new brands. The intent behind this move was to create more opportunities to expand franchise and management contracts in markets that were already saturated by other brands under the companies’ umbrella. However, the pandemic has stalled this growth strategy. Similarly, pipeline development also slowed and in some instances reversed course as hotel owners and investors pulled back once the pandemic hit and existing hotels began closing. Consequently, stock prices may remain somewhat stagnant until expansion plans are underway again.   Marriott International Inc. is arguably one of the most popular, if not the most well known, of hotel stocks. Based in Bethesda, Maryland, the company has a portfolio of more than 7,600 properties under 30 brands in 133 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts globally. The stock trades as MAR on NASDAQ. In 2020, Marriott International generated over $10.5 billion in revenue and saw annual EPS decline to $0.31 from $1.16 in the 2019 fiscal year (FY). From 2009 to 2019, Marriott stock has returned 10% higher compared to NASDAQ composite and 44% higher compared to Dow Jones Large Cap. According to CNN Business, 18 analysts offering 12-month price forecasts for Marriott International Inc. have a median target of 135.00 with a high estimate of 175.00 and a low estimate of 119.00.  Hilton Worldwide Holdings Inc., (NYSE: HLT) operates and franchises 6,400 hotel properties under 18 brands in 119 countries in addition to licensing vacation ownership resorts. The company’s revenue for 2020 total $4.31 billion and annual EPS dropped from $3.04 in FY 2019 to $-2.56 for FY 2020. During the decade between 2009 and 2019, Hilton’s stock returned 126% higher compared to NYSE composite. As per CNN Business, the consensus among 18 analysts for 12-month price forecasts is a median target of 123.50, a high estimate of 140.00 and a low estimate of 100. Hyatt Hotels Corp. (NYSE: H) Headquartered in Chicago, Hyatt’s has 20 brands under its corporate umbrella and more than 975 hotels, all inclusive resorts and wellness resorts throughout 69 countries across six continents. 2020 revenue for the company was in excess of $2 billion although annual EPS for 2020 was -$6.93, which was a significant from 2019 annual EPS of $7.21. Between 2009 and 2019, the stock returned 28% higher than the NYSE composite. Fifteen analysts offering CNN Business a 12-month price forecasts for Hyatt Hotels Corp have a median target of 72.00, with a high estimate of 95.00 and a low estimate of 55.00. The median estimate represents a -14.11% decrease from the last price of 83.83. Accor SA (OTC Pink: ACCYY) This Paris-based company trades on the Euronext Paris exchange. However, U.S. investors can purchase shares through the Pink Open Market. The company’s product offering is comprised of 5,000 hotels and residences across 110 countries worldwide. Revenue for the full year 2020 €1.6 billion when annual EPS was -€8.69. Annual EPS for 2021 is estimated to be -€1.09. In the 10 years spanning 2009 to 2019, Accor returned 52% lower than the Euronext 100 composite. As reported by CNN Business, the 12-month price forecasts of 18 analysts for Accor SA has a median target of 8.38, a high estimate of 10.97 and a low estimate of 4.68.  Intercontinental Hotels & Resorts (NYSE: IHG) With $992 million in 2020 revenue, this hotel company has nearly 6,000 hotels throughout the America, Europe, the Middle East, and Australasia and China. More than 880,000 rooms are currently open and another 272,000 rooms are now in the pipeline. 2020 EPS for the stock declined 168.31% from 2019. However, IHG has returned 120% higher compared to NYSE composite in the decade between 2009 and 2019. The 12-month price forecasts of 20 analysts include a median target of 63.29, with a high estimate of 78.23 and a low estimate of 50.07. Choice Hotels International (NYSE: CHH) has more than 7,100 hotels or nearly 6,000 rooms, in over 40 countries and territories. Lodging options range from full-service and limited service hotels in the upscale, midscale, extended stay and economy segments. 2020 revenue was more than $774 million and 2020 adjusted diluted EPS was $2.22, a decrease of 49% over the prior full year period.  The stock also returned 168% higher than the NYSE composite over the 10 years from 2009 to 2019. The 10 analysts offering a 12-month price forecasts for Choice Hotels International Inc have a median target of 105.50, with a high estimate of 122.00 and a low estimate of 90.00. Wynn Resorts Limited (NASDAQ: WYNN) owns and operates Wynn Las Vegas, Encore Boston Harbor, Wynn Macau and Wynn Palace, Cotai. For the year ended December 31, 2020, operating revenues were $2.10 billion and annual EPS was $-19.37, a 1784.35% decline from 2019. In the 10-year period between 2009 and 2019, Wynn Resorts Limited (WYNN) has returned 75 percent lower compared to the NASDAQ composite. The aggregate 12-month price forecasts for Wynn Resorts Ltd have a median target of 120.00, with a high estimate of 157.00 and a low estimate of 99.00. MGM Resorts International (NYSE: MGM) is a global entertainment company with a portfolio of 29 hotel and destination gaming offerings that include casinos, meeting and conference facilities, live entertainment experiences and restaurant, nightlife and retail products. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. In 2020, net revenues were $2.2 billion for the company’s Las Vegas Strip resorts and $2 billion for its regional operations. MGM China had net revenues of $657 billion in 2020.  Adjusted EPS was a loss per share of $3.94 in 2020, compared to Adjusted EPS of $0.77 in 2019. MGM Resorts International (MGM) returned 115% higher over the 10 years from 2009 to 2019 in comparison to the NYSE composite for the same period. Fourteen analysts offering 12-month price forecasts for MGM Resorts International have a median target of 37.75, with a high estimate of 50.00 and a low estimate of 28.00.  Caesars Entertainment, Inc. (NASDAQ: CZR) is one of the largest gaming-entertainment companies in the U.S. and one of the world's most diversified gaming-entertainment providers. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's®, Horseshoe® and Eldorado® brand names. Caesars generated approximately 3.47 billion U.S. dollars in revenue in 2020, when annual EPS was -$13.50 compared to annual EPS of $1.03 in 2019. The stock returned 59 percent higher than the NASDAQ composite in the 10 years over 2009 to 2019. The 12 analysts offering 12-month price forecasts for Caesars Entertainment Inc have a median target of 97.50, with a high estimate of 115.00 and a low estimate of 90.00.  Las Vegas Sands (NYSE: LVS) is a developer and operator of meetings, incentives, convention and exhibition or MICE-based integrated resorts, including Marina Bay Sands in Singapore and through majority ownership in Sands China Ltd., Sands developed the largest portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza, Four Seasons Hotel Macao, The Londoner Macao, The Parisian Macao and Sands Macao.  The company recently entered into definitive agreements to sell its Las Vegas real estate and operations, including The Venetian Resort Las Vegas and the Sands Expo and Convention Center for an aggregate purchase price of approximately $6.25 billion. Casino and entertainment resort company Las Vegas Sands generated approximately 3.61 billion U.S. dollars in revenue in 2020. However, EPS for the 12-months ending Dec. 31, 2019 was -$2.21, a year-over-year decline of 163.14%. But from 2009 to 2019, the stock returned 62% higher than the NYSE composite and 14 analysts collectively a 12-month price forecast with a median target of 67.50, a high estimate of 84.00 and a low estimate of 50.00.   Real Estate Investment Trusts (REITs) REITs are another investment option. Unlike hotel companies, hotel REITs –and all REITs for that matter— own, operate or finance real estate with the objective of generating income. Similarly to mutual funds, REITs combine the capital from multiple investors who earn dividends and avoid the risk associated with buying, managing and directly financing real estate assets on their own. These are good bets for investors who want a stable income stream.  However, REITs aren’t known for their capital appreciation, which is why they tend to show noticeably lower returns against index composites. For example, over the decade from 2009 to 2019, Apple Hospitality REIT Inc. returned 68% lower compared to the NYSE composite and during that same time period, Host Hotels & Resorts returned 40% lower than the NYSE composite index. Broadly speaking, a REIT’s 52-week high and low are more illustrative of the moderate risk they represent to investors.  You should keep in mind that the Pandemic has led to a trend where hotel assets are either being sold off to then be repurposed into other asset classes such as multifamily housing and senior living facilities or hotel owners and investors are themselves repurposing their hotel properties into other asset classes. REIT investors should be aware of this as the trend has the potential to change and even diminish the portfolios of hotel REITs. Like hotel stocks, there are a good number of hotel REITs to invest in, but these tend to be investor favorites because of their longevity and portfolios of reputable brands.  Apple Hospitality REIT, Inc. (NYSE: APLE) owns 233 hotels with more tan 29,800 rooms located in 88 markets throughout 25 U.S. states. The portfolio has a concentration of marquee names including Marriott-, Hilton- and Hyatt-branded hotels. Annual revenue for 2020 was $602 million and the median yearly earnings for 2021 are approximated at $0.54. In the 52 weeks ending on March 19, 2021, the highest price reached by the stock was 15.89. The lowest price was 5.36.A panel of eight analysts offered a collective price forecast with a median target of 17.00, a high estimate of 19.00 and a low estimate of 15.00.  Hersha Hospitality Trust (NYSE: HT) owns and operates 37 hotels totaling 5,845 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast. The company’s revenue for the full year 2020 total $529.96 million while 2020 EPS was -$0.46. In the 52 weeks ending March 19, 2021, the stock price peaked at 12.9 and saw a low of 2.41087.  The nine analysts offering 12-month price forecasts for Hersha Hospitality Trust have a median target of 10.00, with a high estimate of 21.00 and a low estimate of 8.00.  Host Hotels & Resorts (NASDAQ: HST) is the largest lodging REIT and renowned for its concentration of luxury and upper-upscale hotels with a focus on brands such as Marriot, Ritz-Carlton, Westin, Sheraton, W, St. Regis, The Luxury Collection, Hyatt, Fairmont, Hilton, Swissôtel, ibis and Novotel. The company owns 76 properties in the U.S. and five internationally, totally 46,800 rooms. Host additionally holds non-controlling interests in six domestic and one international joint venture. The company did $65 million in revenue for the full year 2020 when annual EPS total  -$1.04. The stock price hit a high of 18.42 during the 52 weeks ending on March 19, 2021 and fell to a low of 9.06. Eighteen analysts estimated a median target of 17.00 in a 12-month price forecast, with a high estimate of 21.00 and a low of 13.00.  Park Hotels & Resorts (NYSE: PK) is the second largest publicly traded lodging REIT with a portfolio of 60 premium-branded hotels and resorts that comprise more than 33,000 rooms in city center and resort locations. The company reported $852 million in 2020 revenue and annual EPS for 2020 was $0.94. In the 52 weeks ending on March 19, 2021, the highest price reached by Park Hotels & Resorts Inc stock was 24.6. The lowest price was 6.04. The 14 analysts offering 12-month price forecasts for Park Hotels & Resorts Inc have a median target of 22.50, with a high estimate of 28.00 and a low estimate of 15.00.  RLJ Lodging Trust (NYSE: RLJ) has a portfolio of 1010 premium-branded, focused service and compact full service hotels in 23 states and Washington D.C. along with an ownership interest in one unconsolidated hotel. This REITs hotels are consolidated in urban areas and other densely populated markets where the barriers to entry are significant, but RLJ’s investment strategy of focusing on hotels with limited food service offerings, limited meeting space and consequently fewer employees, represents greater potential on returns.   Index Funds & ETFs Index funds and ETFs or Exchange Traded Funds are good bets for investors who want to put money into hotel stocks and hotel REITs while minimizing their risk. The benefit to index funds is that they are passively managed because they only track stock indexes. So the fees and expenses incurred by investors are lower. However, the hotel industry is extremely sensitive to changes in the economy. So gains and losses made on these investments will be a function of the greater business climate.  Keep in mind that not all stock indexes are index funds. The Baird/STR Hotel Index is widely regarded by hotel investors as an accurate barometer of the hotel industry’s financial performance. However, this index is not actively managed, nor does it allow direct investment. The Baird/STR Hotel Stock Index and sub-indices are cobranded and were created by Robert W. Baird & Co. (Baird) and STR. The market-cap-weighted, price-only indices comprise 20 of the largest market-capitalization hotel companies publicly traded on a U.S. exchange and attempt to characterize the performance of hotel stocks. ETFs are also considered low-cost investments. They can also have the added benefit of being more diverse investments since they can also include exposure to other real estate investments beyond the hotel industry. So they may not be as sensitive to shifting economies. Additionally, ETFs can include or comprise an entire portfolio of REITs, which on their own are not considered “qualified dividends” as per the IRS.  In other words, earnings on REITS are taxed at a higher rate. Despite the fact that REITs qualify for the Tax Cuts and Jobs Act’s 20% pass-through deduction, they are still taxed at a higher rate than qualified dividends. ETF dividends can be taxed at the qualified rate provided the investor holds them for at least 60 days from the date of issue. Yet, there are ETF dividends that are not taxed at the qualified rate. So investors may want to confirm the tax rate before going in.  Also, keep in mind that the data by which you’re going to assess an ETF as an investment vehicle will differ from that used to assess any given hotel stock. These are not individual companies with annual revenues. Rather, an ETF is an investment vehicle comprising a portfolio of multiple companies and the portfolios are rebalanced, usually once a quarter. In turn, net assets change regularly. The revenue or other metrics for any single company within that portfolio is not an accurate representation of the ETFs’ performance as a whole.  In the meantime, here are a few ETFs worth considering: Nuveen Short-Term REIT ETF (BATS: NURE) This fund provides exposure to U.S. real estate investment trusts (REITs) with short-term lease agreements which may exhibit less price sensitivity to interest rate changes than REITs with longer-term lease agreements. The Fund seeks to track the investment results, before fees and expenses, of the Dow Jones U.S. Select Short-Term REIT Index, which is composed of U.S. exchange-traded equity REITs that concentrate their holdings in apartment buildings, hotels, self-storage facilities and manufactured home properties, which typically have shorter lease terms than REITs that invest in other sectors. The ETF was formed in December 2016; performance data for the last five years is not yet available. The fund has $26.02 million in net assets and the year-to-date daily total return was 12.11%. Its one-year monthly total return was 8.47% and its three-year monthly total return was 9.97%. The 52-week high was 31.22 and the low was 19.28. Wall Street analysts give this fund an N/A rating according to Marketbeat.com  Invesco S&P 500 Equal Weight Real Estate ETF (NYSE Arca: EWRE) The Invesco S&P 500® Equal Weight Real Estate ETF (Fund) is based on the S&P 500® Equal Weight Real Estate Index (Index). The Fund will invest at least 90% of its total assets in securities that comprise the Index. The Index equally weights stocks in the real estate sector of the S&P 500® Index. The Fund and the Index are rebalanced quarterly. The fund has net assets of $22.66 million. The year-to-date daily total return was 12.11%. Its one-year monthly total return was 11.52% and its three-year monthly total return was 11.33% and the five-year monthly total return was 9.01%. The 52-week high was 33.50 and the low was 21.60. Zacks gives this fund an ETF Rank of “Sell” at the time of this writing.  ETFMG Travel Tech ETF (NYSE Arca: AWAY) The ETFMG Travel Tech ETF is a portfolio of companies that are a subset of the global travel and tourism industry. These companies are engaged in the “Travel Technology Business” by providing technology via the Internet and internet-connected devices to facilitate travel bookings and reservations, ride sharing and hailing, travel price comparison, and travel advice. AWAY is an exchange traded fund (ETF) that seeks investment results that correspond generally to the price and yield, before fund fees and expenses, of the Prime Travel Technology Index. The fund has net assets of $261.77 million.  The year-to-date daily total return was 20.07%. Its one-year monthly total return was 116.96%. No additional performance data is available as the ETF was launched in February 2020. The 52-week high was 34.54 and the low was 13.58. Based on WalletInvestor.com forecasts, a long-term increase is expected. The "AWAY" fund price prognosis for 2026-03-25 is 148.980 USD. With a five-year investment, the revenue is expected to be around +369.23%. Your current $100 investment may be up to $469.23 in 2026.   Hospitality and Travel Tech Stocks The travel industry is expected to benefit from pent-up demand. Despite this, many investors have exited their positions in asset-heavy stocks like hotels, airlines and cruise lines. But asset-light travel tech stock may appeal to investors who still want to cash in on an upcoming booking spree since these companies all play some role in the booking funnel.  Travel tech companies also have irons in just about every fire in the travel industry, from hotels and cruise lines to tour operators, airlines and restaurants. So they help investors spread their risk through diversified business interests within the travel and tourism sector.  But investors should also be cautioned that Wall Street is bearish on tech stocks right now. According to a survey from Bank of America, fund managers cut their tech weighting to the lowest overweight position since January 2009.  For investors who aren’t faint of heart, here are some stocks in the travel tech space that are worth considering right now:   Tech Plays: OTAs   Expedia (NASDAQ: EXPE) Expedia Group leverages platform and technology capabilities across an extensive portfolio of businesses and brands to orchestrate the movement of people and the delivery of travel experiences on both a local and global basis. 2020 annual revenue was $5.2 billion was 2020 annual EPS was -$19.00. Expedia Group Inc. returned 26% higher compared to the NASDAQ composite in the decade between 2009 and 2019. Twenty-seven analysts offering 12-month price forecasts for Expedia Group Inc. have a median target of 165.00, with a high estimate of 211.00 and a low estimate of 120.00.  Booking.com (NASDAQ: BKNG) Booking Holdings (BKNG) is a provider of online travel and related services, available to customers and partners in over 220 countries and territories through six primary consumer-facing brands - Booking.com, priceline, agoda.com, Rentalcars.com, KAYAK and OpenTable. The company’s annual revenue for 2020 was $6.79 billion while annual EPS for 2020 was $1.44. In the 10-year period from 2009 to 2019, Booking Holdings Inc. returned 13% higher compared to the NASDAQ composite. Twenty-five analysts offered a 12-month forecast that included a median target of 2,550.00, a high estimate of 3,000.00 and a low estimate of 1,890.00 Airbnb (NASDAQ: ABNB) Since its inception in 2007, Airbnb has grown to four million hosts who have welcomed over 800 million guests in almost every country worldwide. Annual revenue was $3.4 billion for 2020 when annual EPS was N/A. Airbnb shares began trading in December 2020. Therefore, no historical data is available. A 12-month price forecast from 26 analysts included a media target of 180.00, a high stimate of 240.00 and a low estimate of 130.00.  Trip.com (NASDAQ: TCOM) Trip.com Group Limited is a travel service provider consisting of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group enables local partners and travelers around the world to make informed and cost-effective bookings for travel products and services, through aggregation of comprehensive travel-related information and resources, and an advanced transaction platform consisting of mobile apps, Internet websites, and 24/7 customer service centers. The company report annual revenue of $2.8 billion for 2020 although annual EPS was N/A for 2020. Tripcom Group Limited returned 51 percent lower than the NASDAQ composite for the 10-year period between 2009 and 2019. In a 12-month price forecast provided by 34 analysts, a media target was set at 44.54, with a high estimate at 51.32 and a low approximated at 37.43.  Google (Alphabet Inc.) (NASDAQ: GOOG) Alphabet became the parent holding company of Google in October 2015. The company’s suite of products, through its subsidiaries, includes web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce and hardware products. The Internet’s annual revenue for 2020 came in at $180 billion. Annual EPS for 2020 was $58.61. However, Alphabet Inc. returned six percent lower than the NASDAQ composite for the 10 years from 2009 to 2019. Forty analysts offered a 12-month price forecast where the median target was 2,400.00 and the high estimate was 3,000.00. The forecast’s low estimate was 1,477.00   Tech Plays: Metasearch   Tripadvisor (NASDAQ: TRIP) Travelers across the globe use the Tripadvisor site and app to browse more than 860 million reviews and opinions of 8.7 million accommodations, restaurants, experiences, airlines and cruises. Travelers turn to Tripadvisor to compare low prices on hotels, flights and cruises, book tours and attractions, as well as to make restaurant reservations. Tripadvisor is available in 49 markets and 28 languages. The subsidiaries and affiliates of Tripadvisor, Inc. (NASDAQ:TRIP) own and operate a portfolio of websites and businesses, including many travel media brands: In 2020, the U.S.-based online travel company generated revenues of approximately $604 million and annual 2020 EPS was -$2.14. In the decade between 2009 and 2019, TripAdvisor returned 48% lower than the NASDAQ composite. According to a 12-month price forecast from 18 analysts, the median target is 38.50 and the high estimate is 62.00 while the low estimate is 20.00.   Trivago (NASDAQ: TRVG) Trivago is a global hotel and accommodation search platform used by travelers to search for and compare different types of accommodations, such as hotels, vacation rentals and apartments, while enabling advertisers to grow their businesses by providing them with access to a broad audience of travelers via its websites and apps. As of December 31, 2020, Trivago offered access to more than 5.0 million hotels and other types of accommodation in over 190 countries, including over 3.8 million units of alternative accommodation, such as vacation rentals and apartments.  The search platform can be accessed globally via 54 localized websites and apps available in 32 languages. Trivago’s annual revenue for 2020 was $284 million. However, 2020 EPS was -$0.8170. Trivago returned 156% lower from 2009 to 2019 compared to the NASDAQ composite. A price forecast offered by nine analyst for 12-months offered a median target of 2.67, a high estimate of 3.56 and a low of 1.27.    Tech Plays: Software & GDS Companies   Oracle (NYSE: ORCL) The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly- Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database. Total revenue for 2020 was $39.1 billion and annual EPS was $3.08. Oracle Corporation (ORCL) has returned 58 percent higher compared to NYSE composite in the ten years from 2009 and 2019. Twenty-one analysts offering 12-month price forecasts for Oracle Corp have a median target of 73.00, with a high estimate of 93.00 and a low estimate of 57.00.  Amadeus (OTC: AMADY) Amadeus IT Holding S.A. is a Spain-based IT provider for the global travel and tourism industry. The company builds solutions for airlines and airports, hotels and railways, search engines, travel agencies, tour operators and other travel businesses through its global distribution system (GDS) and IT business. Amadeus provides search, pricing, booking, ticketing and other processing services in real-time to travel providers and travel agencies through its Amadeus CRS distribution business area. It also offers computer software that automates processes such as reservations, inventory management software and departure control systems. It services customers including airlines, hotels, tour operators, insurers, car rental and railway companies, ferry and cruise lines, travel agencies and individual travellers directly.  The company’s annual 2020 revenue were €2 billion and annual EPS was -$1.40. According to SeekingAlpha.com, “In the last decade Amadeus IT managed to grow its cash from operations every single year. The OCF-ratios on both a revenue and an equity level are exceptional. All the while management spends cash to grow the business via M&A and purchases of intangibles, but is also growing dividends each year for the shareholders. And as can be seen on both the balance sheets and cash flow statements, the company is managing its debt levels in a very prudent way. If there are no good businesses to buy, debt is retired.” SeekingAlpha also points out that the risk associated with investing in Amadeus is that most of its revenue is related to air travel.  In the 15 years or so prior to 2020, the growth has been robust, but Coronavirus has clearly changed that and the short- and median-term future of global air travel remain to be seen. Twenty-one analysts offering 12-month price forecasts for Amadeus IT Group SA have a median target of 66.76, with a high estimate of 88.06 and a low estimate of 49.16. Sabre Corporation (NASDAQ: SABR) Sabre’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management.  Sabre also operates a leading global travel marketplace, which processes more than $120 billion of global travel spend annually by connecting travel buyers and suppliers. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. In 2020, the corporation generated $1.33 billion in annual revenue and had an annual EPS of -$4.42. Sabre Corporation (SABR) has returned 98% lower compared to NASDAQ composite. Four analysts offered 12-month price forecasts with a median target of 16.00, a high estimate of 18.00 and a low estimate of 13.00.   Did we miss any great hotel stocks? Let us know via live chat!    

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The 9 Most Futuristic High Tech Hotels in the World

by
Hotel Tech Report
3 months ago

The pandemic accelerated technological transformation across the hospitality industry. Contactless has become a must-have, fitness centers have gone virtual, guest communications have moved to mobile, and self-service has become standard. While some hotels found themselves rapidly deploying new technologies, other hotels have been playing the tech-long game for years. Here are some of the world’s most notable high-tech hotels. We've covered the tech strategies of great hotel groups like Viceroy and Noble House who implement everything from contactless check-in to digital concierge but this article focuses on some more wacky tech implementations with a bit of focus on form over function.  This list features some pretty cool hi-tech gadgets and hotel room amenities that go above and beyond the typical flat-screen tv.  Some of the cutting-edge technology on this list may off-put more traditional travelers but will undoubtedly hit the spot for tech-savvy millennials. Rather than layer technology onto the operation, these properties embed technology into the fabric of the operation, making it a focal point and key feature. Some use it as an Instagrammable moment at a specific location while others structure their entire brand around the tech-enabled guest experience. Either way, technology is front-and-center at these hotels.   Henn Na Hotel, Japan “The Robot Hotel” Tokyo has become the marquee high-tech hotel. The brand concept is “commitment to evolution,” which appears across its operation in the form of robots. Lots of robots! The brand claims to be the world’s first hotel staffed by robots -- and there’s really no disputing that, as guests are greeted by robots at the front desk. At one property, the front desk is even staffed by dinosaur robots and iPad kiosks, which is quite the experience.     Other high-tech features at some locations include a robot barista frothing lattes, espressos and teas, as well as a 360-degree VR space for guests to immerse themselves in virtual reality experiences. The hotel is also fully enabled with Wifi powered facial recognition, which eliminates the need for a hotel key altogether. Guests can access the property, and their individual guest rooms, seamlessly using biometrics. Very futuristic, indeed!   YOTEL, New York City The YOTEL brand has been synonymous with technology since it opened its doors near  Times Square. The showstopper was a massive robot arm dominating the lobby, providing automated luggage storage for guests (as well as safety deposit boxes to store valuables). The YOBOT also provides self-service check-in, which puts the brand far ahead of today’s contactless guest experience.   The rooms -- called cabins -- may be small, but YOTEL uses technology to deliver its promise to “give you everything you need, and nothing you don’t.” This includes Smart TVs so that guests can connect their own devices and choose their own entertainment. The guest rooms also use motorized beds as space-savers and motion-activated sensors for lighting and AC to reduce carbon emissions. It’s all about efficiency, delivering an outsized guest experience in even the smallest spaces.   Blow Up Hall 5050, Poland The Blow Up Hall 50/50 is an impressive mix of form and function. Designed by BAFTA-award-winning artist Rafael Lozano-Hemmer, the hotel combines a restaurant, bar, gallery, and hotel into a unique vibe. There are several digital art installations, including a commentary on surveillance capitalism embedded right within the lobby.    The property eliminates the traditional touchstones of the hotel experience: there’s no front desk. The guest’s smartphone provides access to the property, from check-in to room keys to staff communications. The phone also acts as a room finder: after opening the app, the assigned room lights up and the door unlocks automatically. It’s these small tech flourishes that reinforce the property’s sense of mystery and intrigue.   Hotel Zetta, San Francisco At the center of Silicon Valley, the centerpiece of Hotel Zetta is most definitely its virtual reality room in the lobby. Designed by a local tech startup (naturally), the VR cube gives guests a fully-immersive opportunity to experience virtual reality. There are also Nintendo Switch consoles and Oculus VR headsets available so guests can experience next-generation technology in the comfort of their rooms.      Other tech touchstones include a vintage Atari Pong table in the Zetta Suite, which is modernized to include both the classic game and a Bluetooth speaker to play personal playlists. Each guest room is also equipped with Alexa-enabled voice control in every room. Guests can order a meal from room service, set an alarm or learn about on-property dining specials.    Kameha Grand, Zurich The Kameha Grand isn’t one of those kitschy places that you’re embarrassed to stay at. Quite the opposite: the high-end “lifestyle hotel” is part of Marriott’s Autograph collection. And, with rooms designed by Marcel Wenders, it’s got all of the trappings of a luxury property. Rooms     Our favorite rooms are, of course, the Space Suites. It’s the most futuristic room type on this list because it quite literally connects to space. The in-room TV features a live feed from NASA TV so that you can fuel those space dreams. The atmospheric vibes will contribute to that dreamy feel, with “outer space furnishings have been designed down to the smallest detail with a floating bed, pictures of galaxies, hovering astronauts and models of rockets.” Far out!   Virgin Hotels  The Virgin Hotel brand has always been tech-forward and guest-centric. Even prior to the pandemic, the brand empowered guests to control their own experiences right from the palm of their hand. Now, those features are dramatically expanded to be even more contactless.     Named Lucy, the app allows guests to skip check-in, using their phone to select rooms and unlock doors. Guests can also use the app to order room service, adjust room temperature, control entertainment (in-room streaming and Apple Music), plan their trip around the city, or even follow custom exercise routines by Fitbod. Following on smartly with its brand promise, the app also offers three preset lighting modes for guestrooms:  Get Lit for full brightness, Get in the Mood for dimmed relaxation, and Do Not Disturb for sleep. By putting all of these elements together into a single interface, Virgin Hotels puts the guest in control.    25hours Hotels Another brand that’s focused on high-tech without losing high-touch hospitality is 25hours. Thanks to an in-house multidisciplinary think tank, the Extra Hour Lab, the brand experiments with new ways of engaging with guests, both through digital and analog channels. That balance plays out in Cologne, where the record store greets guests alongside    Perhaps that’s one aspect that distinguishes the futuristic, high-tech hotels: those that understand how to inject storytelling into the experience alongside the latest technology.   Cityhub A hybrid between a comfortable hotel and a convivial hostel, Cityhub is futuristic in both its technology and its approach to hospitality. It’s part of a new wave of brands that blend categories and use technology to enable a more social experience. The Cityhub brand has an app but it also takes a cue from Disney and offers RFID wristbands. These bands are used not only for check-in and property access, but also  at the bar, cafe or vending machines, where guests can serve themselves and charge their rooms. Without having to constantly pull out their phones, there’s a more personal element to the experience.     Each “hub” has its own customizable lighting, temperature and audio streaming, so guests can control their vibe. There’s also an on-property social network, giving guests a digital lobby to meet and plan real-world adventures.   The Atari Hotel, Las Vegas (coming soon!) A notable mention is the upcoming Atari Hotel in Las Vegas.  This property will blur the boundaries between hotel and immersive experience, building on Las Vegas’ long history of blending entertainment with hospitality. The experience is straight out of Blade Runner: bright lights, massive marquees, and an “everywhere you look” focus on gaming.    The Atari Hotel points to a far-more futuristic vision of hotels than anything else on the market today. It very well could be the first hospitality experience built just as much for the virtual world as for the physical one. Guests can host friends in their rooms for gaming marathons, with consoles, batteries, and spare controllers available for delivery. The Atari Hotel may redefine the category and establish a new mainstream travel trend: the gamer circuit. -- What are your favorite high-tech hotel amenities? Let us know if we missed any key ones like hotels with crazy underwater speakers, air conditioning activated by motion sensors, cool touchscreen applications, and more!

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5 Lessons from Hospitality Brands that Crushed Mobile Ordering During the Pandemic

by
Hotel Tech Report
4 months ago

It seems like you can order anything with a few taps on your phone these days: a ride from Lyft, groceries from the local supermarket, and those things you didn’t know you needed from Amazon. Hospitality businesses like restaurants and hotels are quickly jumping on the mobile ordering bandwagon, a trend that has been accelerated by the pandemic. An estimated 70% of Americans now use food delivery apps, and 87% say mobile ordering has made their lives easier. Many restaurateurs also have found that their revenue and average order size grew after implementing mobile ordering and by taking advantage of partnerships with rapidly growing apps and delivery services like Postmates, UberEats, and DoorDash. What can you learn from hotel chains like Hilton and dining establishments like McDonald’s and Starbucks that have strategically adopted mobile ordering? These brands have figured out how to streamline the ordering process, increase average order value, drive brand loyalty, and more. In this article, we’ll share their secrets to mobile ordering success so that you can find opportunities to push your own ordering technology toward the future.   Lesson #1: Hilton Properties Understand that Mobile Ordering is the Key to Improving Average Order Value Many hotels still place paper room service menus in their guestrooms and accept room service orders over the phone. For tech-savvy guests, that ordering process can feel as out-dated and clunky as pulling out an atlas instead of opening your Google Maps app. In an effort to boost room service revenue and operating efficiency, the Hilton Boston Downtown partnered with mobile ordering app RoomOrders. With the app in use, the hotel could eliminate those in-room menus and realize a slew of benefits, although it did take a few days to set up the app, input menu details, and take photographs of the menu items. Within a few months, the hotel increased its order value by 30%, reduced the rate of order errors, and delivered an overall better guest experience. And, most importantly, the data provided by RoomOrders helped the Hilton Boston Downtown measure exactly what results mobile ordering delivered.     Lesson #2: Don’t Build Your Ordering App in House - Just Ask McDonalds It can be tempting to want to build your own custom ordering system in-house, but even major brands have grappled with operational challenges as a result of developing their own tech. In most cases, the better option is to work with an expert who can share a wealth of experience in the mobile ordering space. Though McDonald’s is known as a leader in efficiency, the restaurant chain should have realized its core competencies lie in cooking - not coding. Instead of incorporating an existing mobile ordering app, McDonald’s developed their own, and it led to chaos at their restaurants. As the app rolled out in 2016, employees were required to handle more tasks and adjust to a new service flow, which increased the average wait time. Some employees decided to quit rather than take on more work for the same pay. If McDonald’s had collaborated with a company that specializes in mobile ordering, the rollout could have enhanced the guest experience (and employee morale!) instead of hurt it.     Lesson #3: Dominos Used Mobile Ordering to Grow Loyalty (and their Competitive Moat) In a mobile ordering landscape dominated by a few big names  - UberEats, Doordash, and the like - Domino’s has doubled down on its efforts to build guest loyalty through its Piece of the Pie program. A key reason for restaurants to encourage customer participation in loyalty programs is to gather their data, like their name, order history, and preferences; a restaurant receives very little information about a customer who orders through a third-party app. All of Domino’s mobile orders go through their own platform, rather than third-parties like UberEats, giving them a competitive advantage over other restaurants that rely heavily on such channels. It’s easy to understand why customers would choose Domino’s mobile ordering app over a third-party; Domino’s has launched AI-powered forecasting and GPS driver tracking so customers get updates on their order with 95% accuracy. Customers can even order with voice technology through their Amazon Echo or Google Home. Plus, the Piece of the Pie loyalty program lets customers earn points on every order and redeem points for free pizza. What could be better than that?     Lesson #4: Starbucks Case Study Shows that Mobile Ordering Brings in New Customers If you feel the urge to return to Starbucks again and again, it’s probably not just because of the coffee. Starbucks’ mobile app hooks customers with its user-friendly interface, and the Starbucks Rewards loyalty program allows customers to collect stars that they can redeem for freebies. When placing a mobile order, Starbucks customers can completely customize their beverages, from the temperature to the number of pumps of flavor syrup. The app can remember your preferences and favorite orders, so each order feels personalized. Since the mobile ordering at Starbucks launched in 2016, the company has worked out the kinks and eliminated bottlenecks so the mobile ordering process is nearly seamless today. As a result of Starbucks’ investment in their mobile ordering system, almost 25% of their orders in Q4 2020 were placed on mobile. And overall order volume continues to grow: "Almost all of our same-store sales growth is from those customers that we have digital relationships with and those that are in our Starbucks Rewards program," Starbucks CFO Scott Maw said at a JPMorgan forum in March 2018.     Lesson #5: Chick-Fil-A Uses Mobile Ordering to Surprise & Delight If mobile ordering seems like a necessary evil in today’s hospitality world, Chick-Fil-A proves that mobile ordering can actually enhance the service experience. Rather than simply an order-placing method, Chick-Fil-A uses mobile ordering to surprise and delight their customers. The Atlanta-based company hired an alum of Google and Facebook to head their Digital Experience efforts, and in June 2016 the Chick-Fil-A app launched. To celebrate the milestone, everyone who downloaded the app received a voucher for a free sandwich. The freebies continue even though the app is no longer so new and novel. In addition to earning points that can be redeemed for free food, Chick-Fil-A’s app surprises customers with unexpected freebies. It’s the digital equivalent of comping a customer to thank them for their patronage, a practice that Chick-Fil-A didn’t want to lose in the era of smartphones.     Want to know more about mobile ordering in the hospitality industry? Ask via live chat or reach out to firms like RoomOrders who are experts in the space and have already perfected the technology or download the free Official 2021 Guide to Mobile Ordering Software for Hotels.   This content was created collaboratively by RoomOrders and Hotel Tech Report.  

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The 10 Best Places to Work in Hotel Tech 2021

by
Hotel Tech Report
6 months ago

Each year Hotel Tech Report surveys thousands of industry insiders to find the best hotel tech jobs and employers globally. In 2020, the COVID-19 pandemic wreaked havoc on the hotel industry.  The World Travel and Tourism Council predicts that 121 million of the 330 million jobs tied to tourism around the world will be lost in 2020.  Despite existential challenges, hotels and their vendors have proven resilient in the face of the biggest challenge ever posed to the hospitality industry by working together. But there’s always opportunity in crisis.  The pandemic has advanced digitization in the global economy by at least 5 years according to most experts.  Hotels that already had adopted technology like contactless check-in and guest messaging software have had a massive advantage since the pandemic broke out and the importance of technology for running a successful hotel business will continue to rise over the coming years meaning that demand for hotel technology talent will grow with it. Here at Hotel Tech Report, we’ve interviewed countless hoteliers about their journeys from being hoteliers into lucrative technology careers like Del Ross, Marco Benvenuti, Sameer Umar, and Kevin Brown. For hoteliers furloughed on the sidelines, there is an unprecedented opportunity to pivot into a technology career leveraging skills and knowledge from hospitality experience.   But which hotel tech companies should you apply to? Every year we do the hard work for you and survey thousands of hotel tech professionals to find the best companies to work for in the hospitality industry. We ask respondents to rate their employers from 1-10 on these key variables:  Work-life balance Personal development opportunities Gender equality Confidence in company direction Values alignment 2021 Bonus Question: Rate your firm’s COVD-19 crisis response Hotel Tech Report creates this list each year for two reasons: (1) to help industry professionals find the best hospitality tech jobs and (2) to help hotel tech buyers understand that it’s just as important to partner with great organizations as it is to find great software tools and products. Vendor culture is important to every aspect of a vendor relationship: Product: Great workplaces attract the best talent who make the best products Customer Support: Happy client reps give better service and stay around longer developing deeper relationships. Sales: When a sales team has high turnover, innovation gets strangled because there isn’t enough cash coming in the door to invest in innovation. Our 10 Best Places to Work in Hotel Tech list features companies who foster wonderful work environments for employees.  In return, those employees deliver incredible products and services to clients. Without further adieu here are 2021’s 10 Best Places to Work in Hotel Tech…     10. Siteminder (TIE) Right before the coronavirus pandemic broke out, industry leader Siteminder reached an incredible milestone earning itself unicorn status.  Under the stewardship of CEO Sankar Narayan the firm quickly composed itself when the pandemic broke out and began rolling out initiatives to support both employees and customers like its World Hotel Index sharing real-time data with the industry when historical data just wouldn’t cut it.  Siteminder has an internal slack channel called #stayingsocial dedicated strictly to team members having a social communal space in the age of remote work.  This is pretty typical for a small startup but much rarer in the world of 700 employee behemoths.  The great part about working at a large startup-like Siteminder is that there’s almost limitless upward mobility according to one employee working in operations at the firm, “They allow me opportunities to take on more responsibilities that are even beyond my scope to develop my skills and prep me up for bigger roles. They also give leadership training to enhance to continue developing my capabilities.”  If you’re looking for a fast-paced global startup on a world domination path - then you should absolutely be dropping a resume at Siteminder.  The best part is that they’ve got offices all around the world so even if you prefer the WFH life your colleagues shouldn’t be too far away no matter where you call home.     10. Atomize (TIE) This is Atomize’s first time making Hotel Tech Report’s annual Best Places to Work list but we doubt it will be their last.  In true Swedish fashion Atomize rates amongst the highest on the list for gender equality with a 50% ratio of men to women on its leadership team.  Atomize also rates very highly for culture alignment with a score of 97.8%.  Perhaps the biggest standout for Atomize was how highly employees rated the firm’s COVID-19 response and support for clients during a crisis.  “Everyone from finance to product development has chipped in to try to support clients. We have for instance developed a relief-program for those that are hurting really bad, we have updated the product to amend for the large drop in occupancy for hotels, etc,” one Atomize executive told Hotel Tech Report.  Atomize made it through COVID-19 without a single layoff which is a testament to the longevity of the business and its and commitment to team members.  During the crisis Atomize stayed calm, launched the 2.0 version of their core RMS product, and even found time to bring the team together for a BBQ this summer during a slow down in transmission rates.     9. Hotel Effectiveness Georgia (the U.S. state not the country) based Hotel Effectiveness is in the business of helping hotel owners more efficiently manage labor but the question is: how well do they manage their own labor? It turns out they do a pretty darned good job at fostering internal culture.  Prior to the pandemic labor costs were the biggest focus area for most hotel ownership and management groups - despite the shift in focus Hotel Effectiveness managed to grow through the pandemic all while placing a heavy emphasis on quality of life for employees.  Team members cite a high percentage of employees being groomed from junior roles into leadership positions, flexible PTO programs, and strong opportunities for women.  PTO is great but Hotel Effectiveness management goes one step further where they encourage team members to completely unplug and not even check email during their vacation.  Adding icing to the cake, employees raved about the firm’s response to COVID-19 where it was able to grow without any layoffs needed.  One engineer raved about the Company’s COVID-19 response, “Hotel Effectiveness immediately shifted priorities specifically to address the changing needs of our clients. Hotel Effectiveness provided new guidance materials, payment options, and built new features (such as Daily Wellness Check-In) under tight deadlines to meet the new needs of our customers.”     8. EasyWay Big congrats to the first-ever Israeli startup to make this list!  If you’ve ever been to Tel Aviv or the Start-up Nation (Israel), perhaps a job interview with EasyWay is the excuse you needed to visit one of the most amazing cities in the world packed with beautiful beaches, vibrant nightlife, and a foodie scene that’s truly in a league of its own.  EasyWay is the quintessential startup with a mentality that so long as you hit your KPIs - the rest of your life is totally flexible.  An EasyWay executive’s quote to Hotel Tech Report about the last 12-months at the company says it all, “The work around the clock in the COVID-19 time was crazy.  We have developed so much stuff, that I almost miss this period. We've learned a lot from that, and staid on our feet! The rest of the team was great and it really gave me confidence in my own abilities.  If you're the kind of person who likes to work hard and play hard - you’d be wise to check out EasyWay’s open positions.      7. Asksuite This is Asksuite’s second year making the list and true to their commercial team’s motto “rockets don’t have reverse”, even a pandemic couldn’t slow down this high flying Brazilian startup.  Florianopolis may not be a hotel tech hub (yet) but the Asksuite team has access to lessons in language, hospitality and other training to upskill their way into global domination.  During the pandemic, leaders have made themselves available for 1:1 meetings to support all colleagues and perhaps it’s this close communication that leads Asksuite employees to rate 98% confidence in the future success of the firm.  Asksuite employees frequently cite an onboarding process that makes all team members feel like a part of the family in short order.     6. RoomRaccoon Despite the pandemic RoomRaccoon doubled the firm’s headcount in 2020 and achieved a major milestone in reaching 1,000 clients.  Employees frequently cite similar aspects of the culture as differentiators like their annual international week at the Netherlands headquarters and an inclusive onboarding program.  One employee within the marketing department told Hotel Tech Report, “This year RoomRaccoon decided to start hiring more new colleagues against the market trend of furlough and letting people go. To smoothen the onboarding process of our new hires we've created an E-learning program and two intensive onboarding weeks. So far we've onboarded 15 new hires since July 2020 that immediately are getting results. Something I'm really proud of!”  If you’re looking for an ambitious organization with a strong remote culture and complementary annual trips to the Netherlands - don’t hesitate and check out open listings at RoomRaccoon.     5. Alliants The Alliants story is the cure to the common venture funded business gone wrong story.  Alliants built the business developing custom software for ultra luxury hotel brands like Four Season and Jumeirah before ever dipping their toes into the SaaS world.  That means they’ve got killer products, an eye for design and engineering to back it up.  Starting in a consultative role for luxury brands has afforded Alliants a luxury not many early stage SaaS products have - cash flow.  How would this impact you when you apply for a role there?  Alliants employees are given a $5,000 stipend to invest in their own education and training.  Whether it’s a paid marketing course or intro to Ruby on Rails - at Alliants you will be able to create your own journey and take control of your destiny.  Have you ever had a boss block your calendar so people can’t book meetings with you? Well, Alliants employees have.  During winter months with less daylight, CEO Tristan Gadsby blocked the entire team’s calendars from 11:30am - 1:30pm to encourage team members to get outside, walk or simply catch some rays.  If that doesn’t sell you I don’t know what will.     4. ALICE This ain’t ALICE’s first rodeo, well it’s their fourth if we want to be precise about it.  ALICE has made Hotel Tech Report’s Best Places to Work list 4 years in a row (2018, 2019, 2020, 2021).  ALICE is an incredible place to work for former hoteliers because employees truly act as a strategic extension of their partner properties.  During the pandemic, ALICE quickly pivoted to rollout closure checklists and other free assets to help partners quickly reconfigure their operations for the new normal.  “The most memorable achievement while working at ALICE this past year was being able to provide support for our employees during the pandemic. The pandemic-related fatigue and anxiety impacted everyone and in different ways. We were able to provide support to our employees through group therapy sessions, health and wellness initiatives, increased one-on-one check-ins regarding fatigue, increased opportunities for learning and connection with one another virtually. I am so proud of how the leadership at ALICE has led us through the most difficult time in our industry's history, and with such care for both our customers, our industry as a whole, and our employees,” says one ALICE team member in an HR role.  Just as important as supporting clients through COVID-19 is supporting colleagues.  ALICE team members were constantly comforted that management understood the stress and challenges they were facing during this historic yet tragic year, encouraging an environment of transparency and honesty about how to cope with natural distractions from work in times of stress.     3. hotelkit Austria-based hotelkit is another repeat visitor on this list moving up from 4th to 3rd place.  Founded in 2012 by hotelier Marius Donhauser, hotelkit is a majority female-run business that’s growing rapidly but responsibly throughout Europe.  hotelkit’s team motto is “one team one dream” and while the team had to work remotely for a good portion of the year, colleagues are hopeful that 2021 will bring back the annual hotelkit Christmas party famous for great eats and poker.  Under Marius’ leadership, hotelkit has fostered a culture that feels like family so it’s no wonder that employees rate the culture so highly across every single vector.     2. Cloudbeds Cloudbeds may be the fastest-growing hotel tech company right now so while their headquarters are in sunny San Diego the Company has got Silicon Valley energy pumping through its veins.  Not to mention, Cloudbeds is extremely global with local managers in 40 countries. On March 11th (yes that’s right when COVID-19 took the world by storm) Cloudbeds announced the closing of an $80M funding round.  Cloudbeds employees tend to share two main things in common: (1) they are extremely performance-driven and (2) they LOVE to travel. One Cloudbeds employee within the operations department told Hotel Tech Report, “I managed to get promoted on my 1 anniversary day at Cloudbeds, I was so happy and everyone was so attentive to me during this process. Cloudbeds is an amazing company, full of amazing individuals, it's so nice to see the owners in our calls and engaged with us all at all times. I used to think I had worked at good companies, till I met Cloudbeds. This is where I want to stay and grow. It will be hard for any other company to take me from here.”  Cloudbeds has TONS of openings so make sure to browse their career page if you’re in the market.     1. Mews This is Mews’ 3rd year making the list ranking #2 in 2019 and #3 in 2020 - but this is their first year topping the list which is a testament to the strong culture at the firm.  Like most fast-growing companies, the pandemic wreaked havoc on projections and business plans for Mews leading to some difficult decisions needing to be made.  Mews not only came through what was maybe the darkest moment in the history of the hotel industry but came out stronger than ever before.  Mews leadership set a strong course for the business cutting expenses, reorganizing the team, rebranding, focusing on remote deployments, and even making an acquisition.  Quite a busy year - even if things had been normal.  Mews management has created one of those infectious startup cultures that can almost feel cult-like at times often intoxicating entire trade show floors (pre-COVID).  It’s not often that employees at an aggressive high-performance tier 1 venture-backed business get to see their founder dancing through a town hall (affectionately named Mews Con) in a silly costume.  Mews pivoted from hyper-growth mode into a sharp focus on profitability right-sizing the business and is poised to come out of the pandemic far stronger than it went in.  Lots of open roles to check out and we’re sure that list will continue to grow over the coming months.  

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Food & Beverage Category Press Releases

M3 and Avero Announcing Integration Partnership

M3
11 months ago

M3, the hospitality sector’s #1 cloud-based financial and data management platform has partnered with Avero, a restaurant revenue management software company serving the food and beverage (F&B) industry, allowing hoteliers to streamline restaurant operations and positively impact their bottom lines. Currently maintaining over 100 integrations with the top point of sale (POS), labor and payroll systems, Avero offers restaurant analytics software that enhances M3 data, revealing powerful insights on server performance, labor and food costs, revenue management and more. “M3 currently integrates with numerous property management solutions in the hotel market” said Todd Rendle, Avero’s Chief Financial Officer. “This partnership allows M3 to extend its system integrations to over 50 different food and beverage point-of-sale systems and consequently improve data quality and efficiencies to drive financial performance.” Utilizing Avero’s F&B integrations and revenue management software, M3 customers can run a variety of successful enterprise-wide initiatives including increasing profit with menu engineering, reducing food costs and waste and improving server performance. M3 customers will also have the ability to integrate their back-office platforms with more than 50 F&B POS platforms, including Aloha, Micros 3700 and Hosted Symphony. M3’s dedicated integrations team additionally focuses on accumulating actionable data to help customers increase efficiencies, maximize data quality by reducing the need for manual entry and intervention, improve guest experiences and drive overall financial performance. “In our commitment to drive hotel financial performance through technology, M3 is expanding the industry’s back-office functions by modifying software integrations to allow the electronic capture of additional revenue streams beyond PMS,” said Scott Watson, M3’s Chief Sales & Marketing Officer. “As M3’s customer base grows and diversifies, we will continue investing in and partnering with solutions like Avero to meet our customers’ specific needs and ensure our solutions consistently deliver to the highest of standards.” Access to Avero’s POS integrations and revenue management software can now be added to any customer subscription by contacting M3. M3’s customer base consists of more than 6,300 hotels, of which, more than half are among the top hotel management companies in the U.S., as ranked by Hotel Business.  

Impulsify Announces Arrival into Grab-and-Go for Glamping Retail Stores

Impulsify
1 year ago

Retail technology company, Impulsify Inc., who provides cloud-based point of sale, self-service kiosk solutions, and data-driven retail design services to the hospitality industry, has just announced their arrival onto the Glamping scene. The Denver-based software company recently signed several Glamping sites and will soon launch the general store of its first luxury campground in Escalante, UT. A fusion of glamour and camping, "glamping" allows visitors to experience unique parts of the world without sacrificing the comforts and luxuries of home. With a mission to provide upscale, self-service retail "anywhere people live, work, chill, crave" – Impulsify's plug-and-play retail solutions and expertise extend seamlessly into the campground general store of some of the most desirable glamping sites in North America.  "Our experience designing unique and convenient self-service retail for discerning hotel guests makes our move to glamp-grounds a logical next step," says Impulsify CEO, Janine Williams. "Offering technology-driven, well-planned retail in campground general stores is an essential for any glamping site where guests crave both comfort and convenience - and owners seek proven, effective sources of incremental revenue!" Impulsify's software technology and revenue results present developers, owners, and managers an easy-to-implement solution designed to benefit both the glamp-ground and the guests who visit.  

Tock Named 2018’s Top Rated Food & Beverage Technology in the 2018 HotelTechAwards

Hotel Tech Report
2 years ago

February 12, 2018 -  Hotel Tech Report has named Tock 2018’s top rated Food & Beverage Technology based on data from thousands of hoteliers in more than 40 countries around the world.  Over 100 of the world’s elite hotel technology products competed for a chance to win this prestigious title. The HotelTechAwards platform (by HotelTechReport.com) leverages real customer data to determine best of breed products that help hoteliers grow their bottom lines. “Tock is a game changer for guest and reservation management across hotel  F&B outlets.  Just as Airbnb has popularized the experience movement, Tock goes beyond just making great reservation software and allows for hotels to highlight and sell more of their F&B experiences.  In the end this increases average guest spend, reduces inventory costs and solves one of the biggest problems for restaurants - cancellations,” says Hotel Tech Report’s Jordan Hollander. Tock is poised for sustained growth in 2018. Hoteliers recognized Tock’s impressive return on investment where Tock exceeded the category average by 11%. One Chicago based F&B manager calls Tock “game changing” software that “increases revenue, improves the guest experience and provides outstanding support.”  Another Philadelphia based Corporate Director of F&B Marketing Strategy for a national hotel company says that Tock helps them bring their hotel and restaurant properties to life through events and experiences. To read the full review and more, head to Tock's profile on Hotel Tech Report