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Innovation is alive and well in hospitality. Don't believe us? Check out the 47 new hospitality innovations that we cover in this report. In the age of coronavirus we all catch ourselves thinking that the world is coming to an end from time to time. Don't worry, this article has nothing to do with coronavirus (but it's hard not to address the elephant in the room these days). In order to keep this article COVID free, let's run a scenario analysis using Hotel Tech Report's Innovation Wager™. The wager considers four alternate universes based on two axes. On our X axis we consider two worlds: Scenario A considers optimal decision making if the hotel industry does not recover, Scenario B considers what to do if you believe that it will. On our Y axis we consider what happens if we improve the way we do business with new technology and processes. The wager shows us that in any potential outcome, it's always in our interest to improve the way we operate our businesses. The only unacceptable outcome is the one where the world does not come to an end and we do not improve our tech and hotel operations processes. So the next question is how did we choose our Y axis (i.e. update my hotel's tech and operations)? The math is simple, if your hotel group's breakeven is at 25-30% occupancy and you're currently running at 0% you are essentially racing against time to hit that occupancy. Global travel demand is unfortunately out of your control, so what can you do to get there as quickly as possible? You can improve your margins to lower your breakeven occupancy by getting more efficient at your property. For this you may explore technology like keyless entry or staff collaboration tools to help your slimmed down team do more with less. You can sell long term group business today to bring deposit revenue in ahead of those bookings and for that you'll need airtight sales tech and processes. You could also get more efficient at acquiring guests to hit that 25-30% occupancy rate faster. In this article, we showcase 47 hospitality innovations that have been launched in the crisis. As you explore ways to improve your margins, get smarter at guest acquisition and more - this list can put you on the cutting edge. We've divided the article into five categories: Revenue Management Innovations Marketing Innovations Operational Innovations Guest Experience Innovations Sales and Meetings Innovations BONUS: Look for the contactless badge next to products in the innovation report to identify technologies that will help your hotel go contactless, boost your recovery efforts and prepare now for the inevitable changes that are coming. The tools have functionality that will enable you limit human physical contact to pre-emptively prepare for new government regulations and even more importantly, guest expectations. Q2 Innovations in Revenue Management 1. OTA Insight Market Insight Tool OTA Insight’s Market Insight tool offers a smarter way to predict demand and price your rooms accordingly. Market Insight gathers and analyzes data from hotel web searches, flight data, events, holidays, online reviews, weather forecasts, and alternative lodging inventory to give your revenue team location-specific insights segmented into different customer groups. Learn more about your target guest’s booking intent and use real-time market trends to capitalize on revenue opportunities before your competition. 2. SiteMinder Insights SiteMinder Insights allows hotels to be smarter about their sales and marketing strategies while maintaining their brand integrity. This tool has monitoring and reporting capabilities that provide hoteliers a single place to access clear and actionable data on their local market, business performance and guests. This integration can help hoteliers make more informed decisions about hotel pricing and distribution, based on impartial data, as well as reveal insights that help get ahead of the competition. 3. Infor Price Optimizator Infor Hospitality Price Optimizer (HPO) is a mobile-first app that helps hotels price their rooms in a more accurate and timely manner. The algorithms that drive the app replicate the approach the guest takes to book a room: the system data from star ratings, location, pricing, and reviews to select which hotels are the valid competitors that should influence the pricing decision. he system automatically detects seasons and events for a dynamic pricing solution that updates throughout the day as needed. 4. HotelIQ Monthly Forecasting HotelIQ has been working on a Monthly Forecasting & Budgeting Tool that can generate forecasts and budgets for up to 12 months at a time. The platform pulls your real-time PMS data to use as a baseline, automating the burdensome task of maintaining spreadsheets and forecasting by hand. Easily edit figures, track performance, and generate market segment level forecasts and budgets. 5. IDeaS RevPlan IDeaS RevPlan is a total revenue forecasting, planning and enterprise consolidation tool. RevPlan can automate scientific forecasting, budgeting and financial submission for your entire property – from rooms to food & beverage and other income revenue streams. Save time and manual effort while driving greater profitability: RevPlan provides hotels the ability to forecast accurately and precisely. 6. RateGain MarketDRONE RateGain is launching MarketDRONE, a new feature for its rate intelligence platform OPTIMA. MarketDRONE tracks intra-day rates and rate-plan changes by hotels in real-time. Whenever a competitive hotel makes a rate change, your revenue manager receives an alert. Hotels are constantly changing rates for existing plans and introducing new rate plans close to check-in-date to sell off their unsold inventory and maximize revenue. As such, a revenue manager, on an average, may lose $1,000 or more per day by not acting on these intra-day market changes in real-time. With MarketDRONE, revenue managers do not have to pull out rate shopping reports on a daily basis to make the strategic decisions. The instant alerts provide them the market insights on the fly and basis that they can take the recommended actions on the go. 7. HotelTime Instant Reporting HotelTime Solutions is debuting Instant Reporting, a reporting and forecasting tool that helps revenue managers working at multi-location properties get a clear picture on their distribution. It aggregates data on key metrics across different properties. This tool makes it easy to get accurate reports, merging revenue center statistics at the chain level. 8. Hotelchamp Demand Tracker Hotelchamp’s new demand tracker will give revenue managers insight into how much demand there is predicted for future stay dates in their hotel. Set up automatic alerts to be notified when demand increases for a specific stay date. Get insights for a specific demand period to better predict trends in revenue. 9. HotelPartner Synergy Model HotelPartner’s synergy model is a new service offering for individual hoteliers that combines manpower, technology, and expertise in one package. The firm will offer a revenue management tool as well as the team to use it; the synergy model offers a blend of consulting, technology, and a revenue management solution tailored to your property. 10. 5stelle Business Intelligence 5stelle* is introducing a new business intelligence tool that provides 18 interactive dashboards. Get reporting on your reservation lead time, month-to-date revenue and occupancy, RevPAR analysis, and more all in one place. 11. Fairmas Advanced Revenue Planner Fairmas Advanced Revenue Planner simplifies the planning and controlling of all hotel revenues, either by market segment or by account line item, on a daily or monthly basis. The platform is built for different user groups – from department managers who need to plan on the operational level, to revenue managers for a detailed view of the total hotel, and to the general managers who can refer to its consolidated view. The Pickup Planning feature allows a different way of planning that may be a more realistic approach depending on the day-to-day situation (e.g., How many more rooms do I still need to pick up to achieve my goal?). Q2 Innovations in Hotel Marketing 12. Revinate Guest Data Platform Revinate’s Guest Data Platform is another take on consolidating guest information to deliver the insights hotel managers can use to drive direct bookings, provide a great guest experience, and increase profit. The Guest Data Platform combines guest data into rich, unified profiles that can inform your sales and marketing campaigns. 13. SHR Maverick CRM SHR Maverick™ CRM by Sceptre Hospitality Resources LLC is a new CRM system that unlocks information from third-party providers. This CRM shows your hotel data about customers no matter where they booked: direct, or through an OTA. Maverick gives hoteliers access to clean, consolidated guest data, including user behavior and booking habits. The platform includes a loyalty and rewards platform and integrates with Windsurfer CRS, Windsurfer CRO, Windsurfer IBE, and a built-in Campaign Management Platform. 14. D-EDGE CRM D-EDGE launched Guest Management, a CRM tool that integrates with the brand’s existing CRS product. Guest Management offers hoteliers a way to centralize data from your PMS, CRS, website, and other sources into one guest profile. By consolidating all data about each guest in one place, your team can more easily send specific, customized offers to guests, driving guest satisfaction and loyalty. 15. Dailypoint Content Bot The dailypoint Content Bot is a tool which pushes email communication finally to an individual experience with each guest. The bot pulls data from guest profiles in dailypoint to select content pieces from a library, offering individualized, concierge-style recommendations based on each individual’s unique needs. Content Bot allows your marketing team to get hyper-focused with messaging. Send a newsletter customized per person, rather than per target group. 16. Suiteness OTA Distribution Suiteness launched a partnership with Booking.com for travelers to book connecting hotel rooms and suites through Booking.com. When connecting rooms are available, they are booked 3.3x more often than multi-bedroom suites in the same hotel. Customer segments like families and groups are heading to AirBnB in droves because they demand more space and don’t want to risk showing up at your property only to find out they can’t get connecting rooms. Give them peace of mind and you’re more likely to win their booking. 17. RoomRacoon Integrated Upselling RoomRaccoon is developing an integrated upselling tool for its hotel management system. This will allow clients of its HMS to offer add-ons like breakfast or room upgrades prior to arrival. While there are quite a few standalone upselling tools on the market, RoomRaccoon is one of the first HMS players to offer this functionality. 18. AskSuite Booking Engine Chatbot AskSuite’s latest integration syncs your booking engine with their chatbot to recapture a guest who may be having trouble booking directly. For instance, if a traveler tries to book a room on an unavailable date, the chatbot will automatically respond with a message that there are no rooms available and suggest the next earliest date with availability. Or, the chatbot can be set up to suggest a nearby property from the same chain that does have availability. This integration helps your reservation team work more productively, captures more direct bookings, and standardizes customer service messaging on your site. Asksuite is also in the process of building a Smart Chat Distribution tool that can matches a reservation agent to an open chat, helping large reservation teams coordinate their responses to individual customers. Your property defines specific rules – using triggers such as language, communication channel, type of inquiry, and more – and the algorithm uses these qualifiers to send an open request to the right customer service representative. The goal is to improve your property’s customer service and make it easier for your team to work efficiently. 19. Profitroom WebAssistant Profitroom’s WebAssistant is a new tool for creating and maintaining your hotel website. The tool is built specifically for the hotel industry, with templates designed to set up booking pages that drive direct bookings as well as unlimited data transfer and automated free updates. This website builder is an option for hotel properties that do not have the budget to work with a digital marketing agency to set up their site. 20. Quicktext Lead Generation Quicktext’s chatbot aims to improve your sales cycle by generating new leads for your sales team. When a customer engages with this chatbot, the program checks your CRM to see if this user exists; if they do, the tool will add any missing contact details and customer interests as determined through the chat interaction. If this is a new customer, the bot will upload insights into your CRM that can be used by your sales and marketing team to send more personalized offers and marketing messages. The Quicktext bot interacts with 9% of online visitors each month; if you have 3,000 visitors every month, Quicktext will create 270 new leads to whom your team can market. 21. myhotelshop GmbH Link Travel Ads myhotelshop GmbH recently launched Link Travel Ads, a metasearch marketing platform for hotel chains, booking engines, and hotel marketing agencies. This tool is built specifically for properties that have struggled to run, manage and report metasearch marketing campaigns. Link Travel Ads will take you through the process from start to finish. With this tool, one account manager can manage campaigns for more than 500 different properties, with reporting and invoicing all in one place. 22. Experience Hotel Dedupe Experience Hotel, like D-EDGE, is trying to solve the problem many hotels have: multiple entries for the same guest. Hotel brands that have multiple properties with multiple data sources (the restaurant, spa, reservation system, etc.) tend to have duplicate profiles for the same guest in their PMS. Experience Hotel’s approach is Unified Customer Repository (UCR), a system that can identify all the duplicates in your guest list and combine every guest's details in one single profile. This allows your team to see an entire guest history in one place, and use insights from multiple sources to deliver personalized messages and offers. Q2 Hotel Operations Innovations 23. hotelkit Facility Management Hotelkit debuted a new Facility Management platform that enables maintenance teams to plan, schedule, and track corrective and preventive maintenance tasks. The tool help maintenance managers allocate resources such as time, money, and employees more effectively, and can automate and oversee daily maintenance routines. Get data and reporting on energy consumption or wear and tear of equipment to predict future expenses. 24. Mews Online Check-Out Mews Systems now offers an online check out feature aimed at reducing lines at the front desk and streamlining your property’s operations. Guests can checkout online without having to stand in a queue before departure; the platform sends housekeeping an alert once the guest has left, and your revenue managers can start upselling early check ins. Mews Online Checkout gives time back to guests and hoteliers alike with essential automation to guests who are in a hurry and hotels who are trying to turn around rooms. 25. HelloShift Inventory Management HelloShift is introducing Inventory Management to systemize the process of ordering and maintaining your stock of hotel supplies – parts, tools, equipment, linen, guest amenities, and more. Store detailed information about your supplies (warranty, brand, model, etc.), automate reordering, and reconcile inventory levels with regular checks. Reduce error that can lead to over and under-stocking, and reduce costs associated with ordering the wrong amount of supplies. 26. Bookboost Multi-Property Inbox Bookboost Guest Messaging added an all-in-one inbox with multi-property function that integrates messages from a number of channels into one inbox. Manage messages from your website, email, Facebook Messenger, Whatsapp, and more in one platform. This allows one team member to oversee one unified inbox – a big gain in efficiency, especially for multi-property hotels. 27. Sertifi eConfirmations Sertifi eConfirmations allows travel companies to send payment digitally to travel suppliers (e.g., your hotel). Receive corporate credit card payments, virtual card payments along with the corresponding payment instructions, and guest information, such as check-in time and room preference, all at once – quickly and securely. All payment data is tokenized and transferred in a PCI compliant manner. Offer a smooth, hassle-free payment experience for corporate travelers. 28. Beekeeper Task Management Beekeeper’s Whispr Partnership will help frontline workers learn their job duties more quickly and help add consistency to your operations. Whispr transmits “motivational audio messages”, as well as work instructions in your employee’s preferred language through Beekeeper’s operational communication platform. Facilitate communication between your housekeeping team and management in an innovative and authentic way. 29. Telkonet Ecoinput Telkonet introduces EcoInput, a simple way to save energy and reduce your costs. EcoInput turns any light switch into an energy management device. Using the Zigbee wireless protocol, lighting can be controlled locally – e.g., guests can use the light switch as normal – or remotely via software or mobile control. Add sustainability and energy savings to your property without sacrificing guest experience. 30. Hoxell Quality Operations Hoxell has a new tool called Quality Operations. With Quality Operations, members of your team can send messages, create and assign tasks, and digitize workflows to improve productivity. The platform aims to streamline housekeeping activities, create direct communication channels, and improve reporting by reducing friction in communication and knocking down siloed reporting structures. 31. Mister Booking Payment Automation Mister Booking’s Payment Automation feature offers a simple way to process payment from your Hotel Management System. All credit cards collected as guarantee from OTA or booking engine can be verified and pre-authorized directly from the PMS. Automate advanced payments for all non-cancellable and non-refundable reservations, according to their payment conditions. It will save your team time by automating the administrative burden of payment verification. Q2 Guest Experience Innovations 32. Crave AppLess Mobile Crave unveiled AppLess™ Mobile, a tool that gives guests access to guest services through location-specific QR codes. Guests simply scan a QR code and choose from the services you offer. Create multiple custom QR codes and post them at different points throughout your property: for instance, a QR code for ordering drinks at the bar, a QR code for catering in a meeting room, a QR code for more towels by the pool. AppLess™ enables frictionless digital experiences for consumers to access services on their own devices, without the need to download a mobile app. Includes payment technologies such as Apple Pay and Google Pay. 33. SuitePad Premium Docking Station SuitePad has two new products to share, the SuitePad Premium Docking Station and the SuitePad 10" Tablet. The SuitPad 10 is a premium version of their previous model, featuring a 1920 x 1200px resolution screen, larger battery for longer use, and 2GB of RAM for smoother content delivery. The docking station includes new features such as a bluetooth speaker, in-room presence sensor, and telephone handset. These features increase your property’s ability to send offers to guests at the right moment, and provide a premium in-room technology experience. 34. Volara Google Interpreter Volara introduced Google Assistant Interpreter Mode for Hospitality, a partnership with Google that facilitates real-time conversations with guests through instant translation. The tool translates between 29 different languages to help your staff welcome guests from diverse language backgrounds. Improve the guest experience and solicit reviews in multiple languages with this quick and easy translation platform. 39. TrustYou On-Site QR Feedback TrustYou’s On-Site Solutions Beta is a new product that solicits feedback during the guest stay using a QR code or short URL. This survey tool proactively asks each guest about their stay, escalating any issues occurring at your hotel for immediate attention. One hotel property that tested this product was able to increase their post-stay review scores by 3.8 points by asking for feedback in real-time. 35. Travel Appeal Destination Report Travel Appeal’s On-demand Destination Reports are tailor made for independent and chain hotels, DMOs, and tour operators looking for deeper information about their territory. These reports are available for any city, region, or territory within a few days, and can be used to analyze visitor groups, sentiment scores, trends, competitors, online channels, seasonality, and more. Compare different time periods (up to three years back) and learn about the reputation of the destination, individual sectors (F&B, retail, experiences, and more), and what topics are most discussed in relation to your specific area. Know what to highlight in your marketing campaign and help your concierge team craft the perfect experience for your guests. 36. LoungUp WhatsApp Messaging LoungeUp debuted its new WhatsApp Messaging function, adding a new way to communicate with guests. Use this tool to initiate contact with each customer before they arrive over WhatsApp. Send guests a way to check-in in advance, pay their deposit, book a shuttle to the hotel, or offer an upgrade. Automate some of the time-consuming administrative process and offer real, conversational exchanges with guests. With 1.5 billion worldwide users per month (as of January, 2019) worldwide, WhatsApp is the number one messaging platform, ahead of Facebook Messenger (1.3), Wechat (1.1), Skype (0.3), Snapchat, Viber and Line. 37. Zaplox Mobile Check-in Zaplox Premium iterates on Zaplox’s original product with new mobile-check in and mobile key functionality. This app integrates with most leading PMS and lock systems to streamline check-in. The custom-branded app allows your property to connect with guests before, during, and after their stay. Guests can use the Zaplox app to check-in, preauthorize their credit card, and complete the guest registration before they arrive at the hotel. Includes mobile keys with integration with lock vendors ASSA ABLOY, dormakaba and SALTO systems as well as large PMS providers, such as Oracle, Agilysys, protel, StayNTouch, Maestro, and more. 38. MyStay Mobile Check-in MyStay Check-in Agent is a tablet-based software solution that can make your check-in process 100% digital at the front desk and anywhere at your hotel. The tablet scans guest documents, and then prompts the guest to add missing information, agree to house rules, and sign the check-in card. This increases the accuracy of your guest data, streamlines the check-in process, and allows your team to focus on the guest experience rather than data entry. Q2 Sales & Group Travel Innovations 39. OPERA Sales & Event Management Oracle’s OPERA Sales and Event Management Cloud (OSEM) helps hotels reduce the extra time spent managing data entry related to events. OSEM provides a single view of all a hotel’s event booking details and revenue across rooms and event spaces for easier audit and analysis. Properties can increase their event revenue by optimizing inventory, bookings, streamlining logistics and providing smooth event logistics. The tool helps streamline operations, increase communication and cooperation across departments, and respond faster to customers. 40. Atomize Group Booking Pricing Module Atomize announced fresh updates to its Group Booking Pricing Module with a tool that helps revenue managers to instantly calculate the optimal rate for groups. This module now presents both the total recommended price and displaced transient revenue for the group, along with details such as prices per room type and date. A separate module introduces the ability to email yourself the group pricing recommendation for future reference. 41. MeetingPackage Analytics MeetingPackage has a new analytics extension for meetings and events bookings that allows you to advertise your meetings and events the same way you would advertise your hotel rooms. The analytics extension allows Google Analytics to track the full customer journey, capturing the total revenue of the meeting/event. Measure the booking process from the very first ad click until the event date, and make smarter marketing decisions on Google, Facebook, and LinkedIn to drive valuable direct traffic. 42. SABA Hospitality Digital Conference Tool SABA Hospitality’s SABA Conference is a digital conference tool that provides automatic answers to the questions and requests of conference hosts and attendees directly to their mobile devices. From conference information, directions and amenities, and information on the surrounding area, all information is easily accessible in multiple languages, and can be presented in any format (e.g. links, videos, text, maps and images). Users don’t need to download a thing, making it easier for conference organizers to ensure all relevant information is received by attendees. Hosts and property operators simply enter the relevant information, and the platform presents it in a branded and engaging way. 43. EVENTMACHINE Instant Quote EVENTMACHINE IQ Instant Quote automatically plans and quotes events based on a few simple inputs, like date or event type. Rather than tasking an event manager to manually select and calculate event spaces, catering and equipment. Eventmachine IQ can reduce that manual effort. Get instant, custom quotes emailed in a professional PDF proposal. 44. Get Into MoRe Strategy Dashboard Get Into MoRe has built a new Strategy Dashboard advises whether or not you should allow an inquiry to proceed with booking your events space. One small event could easily reserve a space and prevent a more profitable, large event. Strategy Dashboard uses a red light/green light system to tell you if an inquiry is worth accepting – or if you should hold out for another booking request. 45. THYNK Meetings Management THYNK has a new product, MYCE, a customer-centric meeting events and venue management system. The flexible, cloud-based system uses Salesforce to automate the sales process follow-up with task automation and two-way integration with your PMS, POS, and other applications. Assign tasks across departments and add the group booking module to make it easier to manage event bookings. Q2 New Innovations in Food & Beverage 46. Bbot Smart Ordering System Bbot Smart Ordering system allows guests to order room service on their phone from their room without downloading an app or signing up for a new service and integrates with popular hotel PMS and POS systems. Guests order and pay for food + drinks right from their room without having to call down, which means you save on labor and menu management. Bbot recently rolled out new PMS integrations including Mews & Opera. 47. Apicbase's Production Planning Tool Apicbase’s Production Planning tool streamlines kitchen operations at your property by making food production reliable and repeatable. Save money and reduce food waste by up to 30% with automated to-do lists, real-time inventory updates, and a function that allows your team to predict how many quantities will be needed at each meal. Prep only what you need and make the most of ingredients in your pantry to lower your food budget.
The hospitality industry spans across service industry sectors such as restaurants, hotels and the broader tourism industry (e.g. cruise ships). As one of the largest job creators and economic contributors, it is important for both customers and workers to understand the ins and outs of this dynamic industry. Did you know that the hospitality industry is one of the largest employers globally? The U.S. travel industry, for example, generates more than $1 trillion in economic output each year and when you look to seasonal markets with less industry, travel & hospitality sometimes makes up the majority of the economy (think about places like Hawaii and Phuket). The word hospitality evolved from the Latin hospitalitis, which referred to the relationship between guest and host, as it took its root from hospes, the word for host, guest, stranger, or visitor. Thus hospitality is the act of welcoming guests or strangers (Princeton) or “entertainment of strangers or guests without reward or with kind and generous liberality.” At its core, hospitality is all about delivering a great customer experience (we explore this more in our piece What is Hospitality?). So whether you’re an industry veteran looking to up your hotel management knowledge this year or even if you're just getting started and want to fast track your knowledge - you’ll love this guide. What’s Inside this Hospitality Industry Guide? Hospitality Industry Jobs Hospitality Industry Trends Hotel Industry Conferences Top Hospitality Business Publications Hospitality Industry Organizations Best Hotel Schools Largest Employers in the Hospitality Industry Books Every Hotelier Must Read Hospitality Terminology & Industry Jargon Continuing Education & Certifications Technology in the Hospitality Industry What Makes the Hospitality Industry so Dynamic? With a global footprint and an annual revenue of well over $500 billion, it’s hard not to ignore one of hospitality's most important segments: the lodging industry. A career in this exciting sector can be enriching and challenging, but you may be wondering where to begin. Whether you’re just getting started in your first hospitality job or considering a mid-career switch, this guide will reveal the ins and outs of the hotel industry. This guide will cover aspects of the industry like popular hospitality career paths, hotel industry organizations, and recommended hospitality industry reads. We’ll even decode some hotel industry lingo! Best Hospitality Industry Schools Some professionals begin their hospitality careers in an entry-level hotel job, such as a front desk agent, and climb the ranks by earning promotions from one level to the next. Other hospitality professionals, who knew they wanted to build a career in the hotel industry, might earn a college degree in a hospitality-related field in order to jump into a supervisory or managerial role upon graduation. While many colleges and universities have hospitality or tourism classes, only a few have entire schools dedicated to the hospitality industry. If you want to earn a degree from one of the best, here are the world’s top hotel and hospitality management schools. Ecole Hoteliere de Lausanne Located in Lausanne, Switzerland, this prestigious school offers a world-class hospitality education with a global focus. Courses are taught in English or French, and students are required to complete two six-month-long internships, often in different countries, before graduation. The school also focuses on culinary skills and restaurant management, and there are several “teaching restaurants” on campus, including one that has earned a Michelin star. Cornell University’s School of Hotel Administration As part of the Ivy League, this program offers hands-on training in its on-site restaurants and hotel, plus a focus on academics in its Center for Hospitality Research and Baker Program in Real Estate. The school is located in Ithaca, New York and offers a dual degree program with the Culinary Institute of America in Hyde Park, New York. The School of Hotel Administration’s alumni network includes over 14,000 members and more than 50 Cornell Hotel Society clubs around the world. University of Central Florida’s Rosen College of Hospitality Management Named for the owner of Florida-based Rosen Hotels and Resorts, this school is located in Orlando, Florida. It offers traditional hospitality management degrees in addition to specialized programs in theme park management, golf and club management, entertainment management, and event management. Students can earn Bachelors, Masters, and PhD degrees. Les Roches International School of Hotel Management This globally focused school has campuses in Switzerland, Spain, and China, which offer both undergraduate and graduate degrees. Students can choose between specializations such as digital marketing strategies, hospitality entrepreneurship, and resort development, and successful completion of two six-month internships is required before graduation. University of Nevada’s William F. Harrah College of Hotel Administration Located just a stone’s throw from the Las Vegas Strip, it makes sense that this school would offer some of the world’s best programs in casino management, golf management, and meeting and events management. Top hospitality companies visit the campus every year for recruiting, and students often work part-time or as interns during their studies. Hotelschool The Hague Located in the Netherlands, this school has campuses in The Hague and Amsterdam, which offer undergraduate and MBA degree programs. Courses are taught in English, and the school attracts students from across the world, who often embark on global hospitality careers upon graduation. Oxford Brookes University’s Oxford School of Hospitality Management This British school offers undergraduate and graduate degrees with a focus on international hospitality. Students have the option to spend one year in an internship, and the school matches students with experienced industry professionals in a mentorship program. Glion Institute of Higher Education Known simply as Glion, this hospitality school has three campuses; the original is located about 40 miles outside of Geneva, Switzerland, and two satellite campuses are located in Bulle, Switzerland and London, England. Students can specialize in International Event Management, International Hotel Development and Finance, Luxury Brand Management, and more. Michigan State’s Eli Broad College of Business, School of Hospitality Business This school is most well known for its undergraduate degree program, but it also offers executive education and a minor in Hospitality Real Estate Investment Management. The school often hosts guest lecturers and speakers from various leading hospitality companies and encourages students to complete internships. Virginia Tech’s Pamplin College of Business, Department of Hospitality & Tourism Management Offering a wide variety of courses, this school provides education in tourism destination management, catering management, revenue management, data analytics, and more. Students have the opportunity to earn dual degrees with other Virginia Tech programs, like Real Estate or Business. Online Hotel Management Degrees If full-time school isn’t the best option for you, a few e-learning platforms offer hospitality management degrees online. In addition to full degree programs, you can also find continuing education courses online to continue to hone your hotel management skills without committing to full-time classes. Some leading online programs include Florida International University’s online bachelor’s degree in hospitality management, The University of Alabama’s online bachelor’s degree in hospitality management, and eCornell’s suite of continuing education courses that range from revenue management to guest loyalty strategies. Hospitality Jobs & Career Paths: A Complete Breakdown If you’re certain that you want a career in the hotel industry, you’ll need to decide exactly which role is best for you. Start by searching popular industry specific job websites like Hcareers. A wide variety of jobs compose the entire industry, so people with any type of background or experience can find success in one facet or another. It’s also common for people to start in one role or department, then switch, sometimes multiple times, between roles and departments to build a holistic understanding of hotel operations. General managers have sometimes worked in nearly every hotel department before reaching the GM role! It might seem daunting to apply for your first position, but remember that it’s quite common to jump between departments, if you later find there’s another role you would prefer. Corporate vs. on property hotel jobs Do you think all hotel jobs are based in actual hotels? Many hotel industry professionals don’t work in a hotel at all, but instead in a corporate office or headquarters that works closely with the properties themselves. Some corporate hotel jobs are even split between several properties, with the employee spending a day or two each week at a couple different hotels in one market. Corporate hotel jobs can include roles in marketing, revenue management, sales, reservations, and even branding and real estate development. Corporate hotel jobs can be a fantastic way for someone who is passionate about the hospitality industry to also gain experience working in a traditional office setting, and these jobs often offer the unique perspective of working with more than just one property. However, these jobs can be more difficult to find as hotel companies typically have just a handful of corporate offices, compared to a whole portfolio of properties around the world. Hotel Operations Are Highly Cross-Functional A successful hotel should operate like a sports team, with various departments responsible for different tasks, and the general manager acting as the team captain. Like positions on a soccer field, each position in a hotel requires different skills and work styles, and, while the roles themselves are unique, they’re all crucial to the overall operations of the hotel. General Manager: Every hotel is a business, the GM is the CEO. The GM is responsible for everything that happens on property, from steering the hotel’s strategy to making hiring decisions to resolving serious guest complaints. A general manager usually has his or her own office, but they spend much of the day meeting with the executive team or other departments or walking throughout the hotel and speaking with guests. A GM should be a true “people person” who has strong leadership skills, since they interact constantly with both guests and employees. Sometimes the GM also interfaces with the hotel’s owner or brand representatives, so communication skills are also important. Many general managers work their way up from other departments, perhaps spending a few years as a Director of Rooms. While the role of a general manager can be extremely rewarding, it’s also a challenging job, which carries a lot of responsibility and the flexibility to respond to problems around the clock. General managers typically have a decade or more of work experience in the hotel industry, and many hold college degrees in hotel management. Salaries can vary greatly based on the size and location of the hotel, with average annual pay between $75,000 and $140,000. Operations Manager: An operations manager sits below the general manager and is responsible for overseeing all of the operational aspects of the hotel, which is essentially everything involved in the delivery of a great guest experience. This role supervises the front office, housekeeping, sales, food and beverage, and any other operational department the hotel may have. Ops managers must have a wide range of leadership and communication skills, since their work involves leading teams of employees and solving problems. The operations manager role can be challenging due to the high time commitment and constant demands of both employees and guests, but it’s also a fantastic stepping stone for someone with the goal of becoming a general manager. Operations managers should have several years of work experience, and many hold degrees in hotel management. Salaries depend on the size and location of the hotel, but an average salary is between $51,000 and $95,000. Housekeeping Manager: The housekeeping manager is responsible for everything required to cleaning guestrooms and the hotel’s public areas. But this role isn’t as simple as overseeing the washing of sheets. Housekeeping managers must coordinate housekeepers’ schedules, hire housekeeping staff, manage inventory, provide quality control checks, and work closely with the front office team. A housekeeping manager must be detail-oriented and a team player. While this role doesn’t work closely with guests, a big part of the role is motivating and developing the housekeeping staff, which can be a challenge in a department that traditionally has high turnover. Some housekeeping managers work their way up from the front desk or housekeeping teams, and others land the job directly out of college or as part of a management training program. Average housekeeping manager salaries range from $66,000 to $90,000. Front Office Manager: The front desk is one of the most important parts of the property, handling check-ins and check-outs, answering questions, and performing administrative tasks. A front office manager supervises the front desk’s operations, which can involve hiring, training, and motivating staff in addition to resolving guest issues. The front office manager works closely with the housekeeping manager to coordinate room cleanings, and the role also plays an important part in communicating guest complaints (or recognizing great guest experiences) to other departments. Front office managers should have excellent communication skills and a lot of patience. Like housekeeping managers, front office managers can get promoted from a front desk agent or front desk supervisor role. Some also come through management training programs. The average front office manager salary is around $42,000, but can vary based on the size and location of the property. IT Manager: Technology is no small part of hotel operations, with nearly every department using some sort of technology solution - from property management systems behind the front desk to reservation systems in restaurants. The IT team is responsible for ensuring all of the hotel’s systems are working properly in addition to maintaining guest-facing technology (like WiFi and electronic locks) and protecting the hotel from cyber attacks. The average IT manager salary is approximately $80,000. Engineering: The engineering team has arguably the most important job in the hotel: they’re responsible for ensuring the physical building is in tip-top shape. Someone working in the engineering team should like being hands-on and have a sense of pride for building they work in. Engineering managers and team members often have a background in maintenance work, perhaps having worked in an office building or hospital previously. The average salary for a hotel engineering manager is around $32,000. Revenue Management: Depending on the size of the property, a hotel might have one revenue manager or a 3- or 4-person revenue management team. Revenue managers are responsible for setting rates, managing the hotel’s online distribution channels, and forecasting rates and occupancy. Revenue managers should have both analytical skills and people skills, since the role involves analyzing historical and market data and working closely with front office, sales, and marketing colleagues. Some revenue managers come from front office or reservations backgrounds, while others find their way to a hotel revenue management job from another type of revenue management field, such as airline or rental cars. Revenue manager salaries vary based on the level of responsibility, but the average salary is around $65,000. Marketing: The marketing department’s key responsibility is to communicate the hotel’s value proposition, brand, and unique characteristics to travelers who may want to book the hotel. Traditional marketing methods like print advertising, are becoming less common, and marketing departments now focus on online channels, such as email newsletters and social media. The marketing team works closely with sales and revenue management to brainstorm upsells and promotions then decide which marketing channels to utilize. Hotel marketing professionals should be creative, resourceful, and articulate. They should also be great managers because they’ll often need to oversee a hotel’s digital marketing agency where they’ll need to be well versed in marketing skills like SEO, PPC, CRO and more to be effective. Hotel marketing managers and coordinators don’t necessarily need to have backgrounds in the hotel industry, as many come to hotels from other types of marketing roles. Average salaries range from around $44,000 for coordinator roles to $63,000 for manager roles. Sales: The sales department is in charge of selling meeting space, arranging group room blocks, and planning catering and banquet functions. Small hotels may have just one sales manager who handles everything, while large hotels and resorts may have sales teams with coordinators, sales managers, and catering managers, some of whom may even be based remotely. Sales managers work closely with nearly every department at the hotel, from front office to food and beverage. Rather than working directly with guests, sales managers often work with event planners, like corporate travel planners and wedding planners, to decide on the specifics for the event or room blocks. Sales managers can work their way up from other hotel departments or come from other industries altogether. The average sales manager salary is around $60,000 but can be higher depending on the size of the property and commission or bonus structures. Freelancer: Many professionals in the hospitality industry leverage their experience down the line to build lucrative hospitality consulting businesses where they can share their knowledge from years of on-property, management or brand experience with properties who are looking to optimize their hotel businesses. Best Hospitality Industry Conferences One way for hotel professionals to learn about trends and grow their networks is by attending industry events. Many industry organizations host small, regional events, while some other events are held annually and attract attendees from all over the world. ALIS: Held every January, the Americas Lodging Investment Summit is one of the world’s largest hotel investment conferences, with about 3,000 attendees every year. Lodging Conference: This annual conference attracts nearly 2,000 hotel general managers, CEOs, and owners for a few days of brainstorming and networking. The atmosphere is relaxed, with golf outings, shared meals, and think tanks that encourage the participants to come up with creative solutions for trends impacting the industry. Phocuswright Conference: Since Phocuswright is a hospitality industry market research company, it only makes sense that their annual conference would be rooted in data and trends. Their yearly event showcases speakers from the most cutting-edge facets of the industry, like CEOs of hotel technology start-ups, along with insight from Phocuswright’s own analysts. Skift Global Forum: Relatively new to the scene, this travel media company hosts several exciting annual events, including the Skift Global Forum, which explores the future of the travel industry. The Forum event brings speakers from cutting-edge travel companies and offers educational and networking opportunities for travel industry professionals. Indie Congress: The Independent Lodging Congress brings together independent hotel owners and operators for a few days of networking and idea sharing. Speakers include leaders of independent hotel, food and beverage, media, and technology companies. Top Hospitality Industry Publications The hospitality industry is constantly changing, thanks not only to technology, but also as a result of economic factors, legislation, politics, climate, events, and more. In order to stay up-to-date on the latest industry news, hospitality professionals read industry publications to keep them informed. These publications contain articles about new hotel openings, industry conferences, mergers and acquisitions, new technology for the hotel industry, and more. Hotel News Now: As the press arm of Smith Travel Research, a leading hotel industry analytics company, HNN publishes articles rooted in data from STR’s many studies and events. They track new hotel openings, closures, and brand changes, and their almost-daily “5 things to know” articles provide essential talking points on trends and industry news. Lodging Magazine: Published by the Americna Hotel & Lodging Association, this magazine is both a print magazine and an online news source. Topics range from new hotel openings to food and beverage trends to career development. Hotel Management: This media company delivers articles on topics such as technology, design, and strategies for owning and operating hotel businesses. In addition to their online content, they also produce the monthly Hotel Management print magazine. Hotel Executive: With a focus on providing relevant content for hospitality industry leaders, this online news site covers topics like hiring strategies, hotel design trends, and career development. Hotel Business: This media company isn’t only relevant for property-level hoteliers, but asset managers, owners, and investors too. They also produce an Executive Roundtable series which features insight from industry leaders. Hotel Business has both print and digital editions. Most Influential Hospitality Industry Organizations Many hospitality industry professionals will tell you that the industry feels very small. It’s not uncommon to run into former colleagues or classmates at events or trade shows - or to get to know fellow hospitality professionals in your area. Industry organizations play a big role in creating a sense of community within the hospitality space in addition to hosting events, holding conferences, and offering networking opportunities. HSMAI: The Hospitality Sales and Marketing Association International isn’t only an organization for sales and marketing professionals, but any hotel industry professional who plays a role in revenue generation. The organization has chapters all over the world and hosts educational workshops, networking events, and conferences. HEDNA: The Hotel Electronic Distribution Network Association started in 1991 with the goal of advancing the hotel industry through electronic distribution channels. Today, electronic distribution includes OTAs, the GDS, tour operators, technology solutions, and more, and the organization hosts educational events and conferences globally. AAHOA: As the largest hotel owners group in the world, Asian American Hotel Owners Association has over 18,000 members in the United States and provides a variety of educational and career development resources. The organization holds an annual convention and produces the monthly Hotelier magazine. AHLA: The American Hotel & Lodging Association works as a supporter and advocate of the hotel industry in the United States. The organization offers educational resources, provides networking opportunities, and hosts the annual Americas Lodging Investment Summit (ALIS). BLLA: The Boutique & Lifestyle Leaders Association brings together a variety of independent businesses, from boutique hotels to fitness studios, fashion retailers, and wellness businesses. The organization helps its members succeed in largely corporate industries while retaining their unique character. HFTP: Hospitality Financial and Technology Professionals began in 1952 and now operates offices and chapters around the world. The organization provides education, events, and resources for people in the finance and technology sectors of the hotel industry in addition to organizing the annual HITEC conferences. HTNG: Hospitality Technology Next Generation is a trade association for hotel IT professionals and technology vendors. The organization aims to help hotels become more efficient and successful through implementing technology solutions. Major Employers in the Hospitality Industry Though the hotel industry is more than only chain hotels, global brands are the largest employers in the industry - and some of the world’s largest employers. Working for a major hotel company can offer benefits like complimentary hotel nights at properties around the world, a global network, and the opportunity to transfer to another property to grow your career. Hilton: Hilton began when Conrad Hilton bought his first hotel in Waco, Texas in 1919. Today the company operates 5,757 properties in 117 countries. 17 brands make up the Hilton portfolio, including Waldorf-Astoria, DoubleTree, Embassy Suites, and Hilton Garden Inn. Some of Hilton’s newest brands include the Curio Collection, the Tapestry Collection, and Canopy. Aside from its impressive brand portfolio, Hilton is known as a technology pioneer & innovator amongst the brands. Hilton’s corporate headquarters is in McLean, Virginia. Hyatt: In 1954, the first Hyatt House hotel opened near LAX airport, and during the company’s first few years, the strategy was to open hotels near airports with the expectation that air travel would continue to grow in popularity. That hypothesis proved correct, and Hyatt now has over 875 properties, 20 brands, including Park Hyatt, Hyatt Regency, and Hyatt Place, and a global footprint in more than 60 countries. Their headquarters is in Chicago, Illinois. Marriott: The world’s 3rd largest hotel company started from modest beginnings with a family-run root beer stand in 1927, later opening their first hotel in Washington, D.C. in 1957. Marriott continued growing, adding new properties and brands to their portfolio, and in 2018, Marriott acquired Starwood Hotels & Resorts. The combination of the two companies now includes 1.1 million rooms in over 5,700 properties, with brands like St. Regis, JW Marriott, and Courtyard by Marriott. Marriott’s headquarters is in Bethesda, Maryland. Accor: As Europe’s largest hotel company, Accor operates over 700,000 hotel rooms, about half of which are in Europe. The company was founded in 1967 and, after several acquisitions, now includes brands like Fairmont, Novotel, and Ibis and properties in 110 countries. Accor’s headquarters in Issy-les-Moulineaux, France. IHG: Intercontinental Hotel Group is a conglomerate of several hotel companies, including Kimpton, Holiday Inn, and Intercontinental, which includes 5,795 hotels and over 860,000 rooms. While IHG itself was founded in 2003, the brands have longer histories. IHG has a few head offices, including one in Atlanta, Georgia and another in the UK. The Best Hospitality Books Whether you’re trying to determine if the hotel industry is for you or if you’re an experienced professional looking for some inspiration, these books by industry legends are compelling reads for anyone interested in hospitality. Setting the Table: The Transforming Power of Hospitality in Business by Danny Meyer: The legendary restaurateur and businessman tells his story of building his restaurant empire from Union Square Cafe to Shake Shack. Four Seasons: The Story of a Business Philosophy by Isadore Sharp: You’ll find this book in the offices of general managers around the world, in which the founder of the Four Seasons brand shares his wisdom about taking care of not only guests, but employees too. Without Reservations: How a Family Root Beer Stand Grew into a Global Hotel Company by J.W. "Bill" Marriott Jr.: The son of the founder of the Marriott hotel brand, Bill Marriott writes about the lessons he learned from his father and the key takeaways from building an iconic company. 100 Tips for Hoteliers: What Every Successful Hotel Professional Needs to Know and Do by Peter Venison: As a former hotel management textbook writer, hotelier, and frequent traveler, Peter Venison compiled his tips and tricks for running a successful hotel and being successful in the industry, making this book a good read for anyone curious about the hotel industry as well as hotel executives. Nuts!: Southwest Airlines' Crazy Recipe for Business and Personal Success by Kevin Freiberg: With lessons that apply beyond just the air industry, this book shows how Southwest Airlines’ unique approach helped the airline built passenger loyalty and financial success. Looking for more great industry reads? Check out our 16 favorite hospitality books! Major Trends Impacting the Hospitality Industry Right Now Like every industry, the world of hospitality changes continuously. As a strong economy and new technologies make travel more accessible to people around the world, the industry is growing and expanding in new ways. Forward-thinking hoteliers should always be aware of the leading industry trends so they can ensure their own businesses stay competitive and relevant. Vacation rentals/homesharing: The rise of Airbnb led to vacation rentals, previously a niche market in leisure destinations, becoming a viable competitor of traditional hotels not only for vacationers, but also for business travelers and groups. As travelers try homesharing (some even developing a preference for it), traditional hotels can compete by offering more local experiences and home-like amenities while maximizing the features that set them apart, like unique food and beverage outlets and creative public spaces. Globalization and international travel: Thanks to the rise of technology, a growing global middle class, and people seeking experiences rather than material possessions, more people are traveling than ever - especially internationally. The number of international travelers has risen steadily for decades, with the most growth coming from the Asia-Pacific region in the last few years. Bleisure: For years, hoteliers treated business travelers and leisure travelers as two distinct guest profiles. Business travelers would typically stay during the week, and leisure travelers would book weekends. In recent years, the lines have blurred, with many business travelers choosing to include leisure time on their business trips, even extending their trips in some cases, leading to the term “bleisure.” Eco-friendly development: As consumers show a preference for sustainable businesses, hotels are going green - in more ways than just encouraging guests to reuse towels for an extra day. Some ways hotels are becoming more sustainable include eliminating single-use toiletry bottles, adding recycle bins to guestrooms, and using compostable to-go containers and utensils. A recent Booking.com study showed that 70% of travelers would be more likely to book eco-friendly accommodations. The hotel industry is incredibly dynamic going into 2020 so we couldn’t cover everything happening in this article. Want to learn about more hospitality industry trends? Check out: 100+ Hotel Trends to Watch in 2020 Hospitality Industry Terminology, Definitions & Jargon If you were to sit in on a hotel’s revenue management meeting, it might sound like the meeting participants are speaking another language. Acronyms, abbreviations, metrics and jargon. Occupancy: The percentage of rooms occupied during a given period of time. For example, if your hotel has 80 rooms, and 71 of them were occupied last night, then last night’s occupancy was 88.75%. Occupancy = Rooms Sold / Total Number of Rooms ADR: ADR, or average daily rate, is simply the average rate sold during a given period of time. For example, if a hotel booked 71 rooms last night, and the total room revenue was $6745, then last night’s ADR was $95. ADR = Total Room Revenue / Room Nights Sold RevPAR: An abbreviation for Revenue Per Available Room, this metric is calculated by multiplying the occupancy percentage by the average daily rate (ADR). For example, if your occupancy was 88.75% and your ADR was $95, then your RevPAR would be $85.31. RevPAR = ADR x Occupancy % RevPAR Index: RevPAR is a great metric to determine how a hotel is doing today versus yesterday or compared to last year, but what about the hotel’s performance against the market? RevPAR index compares a hotel’s RevPAR to the RevPAR of a set of other hotels. RevPAR Index = Hotel’s RevPAR / Total Sample Set RevPAR CPOR: This metric stands for Cost Per Occupied Room, and it’s calculated by adding up all of the expenses associated with a booked room, including housekeeping, utilities, laundry. Compset: Compset is short for Competitive Set, which is a group of approximately 4-8 hotels that your hotel views as close competitors. Typically, compset hotels are located in the same area, offer similar amenities, and sell similar rates. Chainscale: With so many hotel brands on the market today, Smith Travel Research’s chain scales organize them into quality classifications which represent roughly the same level of service and amenities. The chain scales are Luxury, Upper Upscale, Upscale, Upper Midscale, and Economy. For example, Four Seasons falls in the Luxury category, Residence Inn is Upscale, and Econo Lodge is Economy. Hospitality Industry Professional Certifications As hospitality professionals gain more experience in their fields, they may want to further their knowledge and credibility by earning an industry certification. Several industry organizations offer certification programs which could require specific work experience, an exam, or a course. Once certified, a hospitality professional can add the designation to their resume (or after their name on LinkedIn) to demonstrate their expertise in their field. CRME: Certified Revenue Management Executive. This certification is organized by HSMAI and is designed for revenue management professionals. It requires work experience in the revenue management field and a passing grade on an exam. CHTP: Certified Hospitality Technology Professional. This certification is organized by HFTP and is designed for professionals in the finance and information technology fields, such as hotel controllers or IT directors. CHRM: Certified Hospitality Revenue Manager. The American Hotel and Lodging Educational Institute (AHLEI) organizes this certification, which requires either work or educational experience in a revenue management field and a passing grade on an exam. CHA: Certified Hotel Administrator. Also organized by AHLEI, this certification is for hotel general managers, assistant general managers, owners, or directors of rooms, and it requires at least two years of experience in an executive role and a passing grade on an exam. CHAM: Certified Hotel Asset Manager. The Hospitality Asset Managers Association organizes this certification, which has strict requirements that include letters of recommendation, years of work experience, an exam, and final approval by HAMA’s advisory board. CHHE: Certified Hospitality Housekeeping Executive. Organized by AHLEI, this certification is specifically designed for housekeeping executives and open to anyone who has worked in a managerial level in a hotel’s housekeeping department for at least a year. CHFE: Certified Hospitality Facilities Executive. AHLEI also offers this certification especially for hotel engineering or facilities leaders. At least 1 year of managerial work experience is required in addition to a passing exam grade. CFBE: Certified Food And Beverage Executive. Hospitality professionals working in kitchens, restaurants, or banquet operations are eligible for AHLEI’s food and beverage certification, which involves passing a test in addition to demonstrating relevant work experience. CHAE: Certified Hospitality Accountant Executive. Another certification run by HFTP, this one is designed for accounting professionals within the hotel industry. Candidates could be directors of finance, CFOs of hotel companies, or consultants. -- By now, your interest in the hotel industry should be sufficiently piqued. We invite you to continue learning - whether you’re new to the industry or not - by subscribing to industry publications, participating in industry organizations, or perhaps studying for a certification exam. This exciting field can open up a world of opportunities, build lifelong relationships, and take your career to new heights. Did we miss anything in our guide? Let us know!
The collapse of global package tour operator and airline Thomas Cook was notable for its global impact. The company left hundreds of thousands of passengers stranded abroad and jeopardized the vacation plans of millions more. We’re not going to report on the tragic collapse of Thomas Cook since the news has been widely shared by nearly every major media outlet over the last couple of days. This article is intended to help hoteliers like you that have been blindsided by this event and specifically those in European holiday markets who have been disproportionately affected. Wherever there is a crisis, there’s also learning and opportunity. This is a wake up call for hoteliers to strengthen their operations by diversifying their channel mix, as the insolvency highlights vulnerabilities of depending too much on a single demand channel. Below we outline 5 lessons to help hoteliers convert this short term crisis into long term opportunity but first we’ll give a quick background on what went down. A quick overview of the Thomas Cook fiasco for those who aren’t familiar The venerable brand, which was founded in 1851 and originated the concept of packaged tours, served 19 million people a year across 16 countries. That’s a lot of empty beds at hotels in these countries, leaving many hoteliers desperate for a lifeline. Hoteliers report that Thomas Cook hasn’t made its payments since July. And, as the Thomas Cook share price tumbled to just £0.0345 on its last day of trading before collapsing, it's unclear when -- or if -- hotels will receive these long-overdue payments. In many of these communities, the bankruptcy is a devastating blow to the local hospitality industry. In popular summer destinations such as Greece, Spain and Turkey, Thomas Cook accounts for 25% of their business. The pain is far-reaching: Thomas Cook accounted for 3.6M trips to the Canary Islands last year. In Turkey, the local hotel association says many hotels are still owed £100,000 – £200,000 apiece. Spanish Trade Union expects more than 10% of it’s 130,000 local hospitality workers to be affected by the collapse. Greece’s PanHellenic Federation of Hoteliers projects losses up to €300m, of which the island of Crete accounts for €80-100m. In Tunisia, 45 hotels dealt exclusively with Thomas Cook, which reportedly owes €60 million for stays in July and August. #1: Use technology to diversify your channel mix First and foremost, hotels must avoid reliance on a single channel. The Thomas Cook example makes this abundantly clear: fewer dominant channels dramatically increase risk. Expanding your sources of demand protects you not only from the extreme cases bankruptcy but also evens out the natural ebbs and flows. With a diversified channel mix, unexpected dips in demand will sting less. A metasearch manager, such as D-EDGE MetaGenius or Triptease Attract, maximizes your hotel’s presence on meta-search platforms. The technology optimizes your spend so that you can capture bookings without spending too much. Marketing spend can also easily be ramped up and down to account for any unexpected need periods. Channel managers, like the one from SiteMinder, dramatically expand the number of channels your hotel is distributed to. The right channel manager puts your hotel in front of consumers you may never have access to, such as inbound tourists from China. This expands your reach and lessens your reliance on only a few channels. #2: Capture maximum revenue from your existing guests Well done! You’ve won the booking and the guest has checked in. Now what? Rather than pursue the next booking, it's time to make the most out of your existing guests. Open the lines of communication, craft compelling offers for upsells and on-property amenities and make it a priority to increase incremental revenue. With a solid ancillary strategy, you’ll be more empowered and less at the whims of others. Ancillary upsell software, like that offered by Oaky and Revinate, helps you earn more revenue from things like up-selling room upgrades and other ancillaries. Since up-selling gives you the ability to earn more from the same guest, you'll be more profitable -- and less vulnerable to revenue dips from fewer bookings. A guest messaging platform, such as Whistle, Zingle, and Bookboost, gives you all kinds of new ways to communicate with guests. You could implement a chat widget on your website, use text messages to talk with on-property guests, or leverage automated communications to ensure the best guest experience. Each of these touchpoints is an opportunity to sell more to current guests. And, as you deliver better service, improved guest satisfaction will boost your reputation online. In-room tablets, like those from SuitePad, INTELITY, and Crave Interactive, are another way to connect with guests. As in-room concierges, tablets allow guests to find relevant information easily and quickly, which boosts satisfaction and leads to incremental revenue from selling in-destination activities and on-property amenities like spa and room service. More money from existing guests makes a healthier, more resilient business. #3: Fortify your direct channel to shore up leakage Leakage costs your hotel money. Each time someone books through an OTA or other third-party (rather than your direct channel) that’s leakage. There’s a related cost to each of those bookings, a cost that could be eliminated by capturing the booking directly. Reducing leakage means doing whatever you can to build your direct channel. With the right tech, your hotel can compete directly with OTAs by providing a similar booking experience. Proper digital marketing and web design ensures that your hotel presents a modern face to potential guests. Vendors (such as Screen Pilot and Travel Tripper) leverage years of hospitality experience to get you more direct bookings online. With an intuitive interface and appealing design, your website can become a great calling card. The agency can then help optimize your digital marketing efforts to get you more bookings at lower cost. A hotel booking engine works 24/7 so guests can book rooms right on your website to keep you competitive with other online platforms. Mews, Net Affinity and TravelTripper integrate a booking engine into your property management system to make inventory instantly bookable online. Long gone are the days when guests would call to book; to avoid leakage, you must provide instant booking on your website. With a direct booking platform, like those built by Triptease and Hotelchamp, you’ll have the tools to convert more lookers to bookers on your website. These tools transform your website into a conversion engine. Then, as you invest more in digital marketing to bring people to your website, you’ll see greater return on your investment because the site is primed to convert. #4: Reduce friction for your sales team Properties of all sizes can benefit tremendously from improved productivity on the sales side. By reducing friction for your sales team, you’ll improve outcomes, compress the sales cycle and close more group business. Closing more deals has the added advantage of boosting morale for your sales team, which builds momentumAre As your hotel endeavors to build a bigger group business, best-in-class technology amplifies this momentum and evens out the normal fluctuations in transient demand. With an online meeting booking platform, such as MeetingPackage, planners can self-serve. Many planners prefer self-service, especially for smaller events. An online booking platform streamlines inbound requests and reduces turnaround time. That way your sales team can focus on more complex offerings and close major deals that can make or break an entire year’s revenue target. A sales CRM for hotels is the heart of your sales operations. With powerful functionality from vendors like Social Tables, Amadeus Delphi or Event Temple, your sales team stays organized so they can prioritize prospects and pursue leads without delay. A few other upsides: Managing outreach in a single place encourages a collaborative mindset, fosters transparency and builds trust. #5: Bring back your old guests Past guests are your greatest assets. They’ve stayed with you before and know your hotel. You also know them somewhat, as you have already begun building a relationship. That means you don't have to introduce your property or compete for attention in a sea of unfamiliar hotels. Loyalty gives you more control over your business; it reduces reliance on third parties and diversifies your revenue streams. Loyal guests are also great advocates, enhancing your online reputation and promoting your hotel by word-of-mouth. Guest CRM and email marketing tools, like those from Cendyn and Revinate, are a hotel marketer’s best friend. Leveraging your database of past guests into new bookings requires thoughtful segmentation and effective messaging -- both of which are made easier with dedicated CRM and email marketing software. By crafting targeted campaigns based on rich guest profiles, you'll generate revenue from existing assets, all without any cost or commissions. And guests will appreciate the personalized approach. A loyalty program for independents can drive repeat visits and encourage more customer loyalty -- even without the global reach and recognition of the major brand. For instance, The GuestBook rewards guests with either 5% cash back, a 5% donation to their preferred charity, or 10% “Trip Cash” for future reservations. These incentives give independents another way to foster loyalty and build a healthy book of repeat business that’s not dependent on third parties. *** Thomas Cook shutting down is a devastating blow to communities, businesses and consumers around the globe. It puts pressure on local economies in many countries. But it also provides a valuable lesson to hoteliers about relying too heavily on a single demand partner; diversification really does help mitigate risk. Hoteliers have some powerful tools at their disposal to build a resilient business that can endure even the most unexpected disruptions.
Winning hotel sales strategies take into account a variety of factors related to internal business performance, competitive analysis and market trends. Great hotel sales teams have a deep understanding of both their product (i.e. hotel rooms, catering spaces, amenities) and the greater market trends. Great sales leaders conduct a regular SWOT analysis and value analysis to better understand their property's unique selling propositions (USPs). The reality is that no matter how strong a hotel sales strategy is, every hotel sales & catering team needs the right tech to succesfully execute on those strategies. The right tech tools put your sales and catering team in control of their own destinies. Greater productivity and more automation of tedious tasks boosts job satisfaction and gives staff the confidence to do more high-impact work that leads to more revenue. Many solutions now also include predictive analytics to guide efforts automatically, helping staff to pursue the most promising leads effortlessly. The increased effectiveness also builds good will with guests. When staff more ably respond to requests -- with increased accuracy and 3D space visualizations -- event organizers feel much more confident in their venue selections. Best-in-class event management solutions also include strong collaboration features to build trust and boost conversions with event planners and organizers. Here's a look at the essential tech for your sales and catering team. Hotel Sales Platforms & CRMs Sales platforms and CRMs are the backbone of successful sales. The sales team needs to be organized and focused on the most lucrative leads first. A sales platform/CRM will give the sales team a centralized repository for tracking the sales pipeline so that promising leads don’t slip through the cracks. Other leads may need more nurturing over time; a dedicated CRM is a critical piece of this puzzle. Hotels have one significant choice in this category: to use a specialized hospitality CRM or a major brand that serves all industries. For users of CRMs not specifically focused on hospitality, some feel a disconnect with customer service. It really comes down to whether you prefer a CRM solution with global scale or one targeted to hospitality. Global scale can mean that there are many strong integrations with existing tools, while specialization means that the tool delivers targeted functionality essential to hotels. Here are the top three sales team CRMs for hospitality, plus one startup to consider. Salesforce: The most well-known CRM provider enables data-driven sales and marketing through its rich guest profiles and robust engagement tracking. The software is familiar to many, which simplifies on-boarding new staff. There’s a tradeoff there, however: specialized support may be harder to come by. Amadeus Delphi: Amadeus’ CRM module is accessible on mobile and combines a detailed overview of function space with guest room availability so sales can act quickly and accurately. The Simple module supports hotels with less than 5,000 square feet of space, while the Advanced module extends to multiple properties, making this a solid contender for all kinds of properties. Startup to consider: Quore Sales is an alternative to the major brand names mentioned above. The tool supports efforts across your entire hotel staff and ensures more transparency, accountability, and collaboration across your entire team -- without any legacy hangups. Want to learn more about Hotel CRM? Meetings and Events Intelligence When it comes to leveraging data to close more group business, it’s ideal to have a ‘second brain.’ There’s only so much capacity during the work day. And often, valuable nuggets are buried deep in the data. Meetings and events intelligence tools push further into the data to find opportunities, trends, and threats that enable sales teams to be more effective. While some other categories here include advanced reporting and detailed analytics, a standalone business intelligence tool often outperforms. The specialized focus means that the tool has a deeper set of data than the average event management software, and can truly unearth new insights that were inaccessible outside of a dedicated events intelligence tool. Here are a few meetings and events intelligence tools that help you get more out of your data, as well as one startup to consider. IDeaS SmartSpace: The visual strategy management solution bridges sales and revenue with deep analytics around business trends and performance of a hotel’s event spaces. The tool includes a space utilization tool to illustrate effective use of space, as well as a pricing strategy tab that breaks down conversions by arrival data, team member, booking type, and meeting class. KNOWLAND: Knowland helps teams achieve their group goals with deep analytics on group booking patterns, market benchmarking, and planner buying behavior. Predictive analytics based on “the industry’s largest historical database of actualized events” accelerate sales cycles by matching inbound requests with the highest likelihood of success Startup to consider: A winner of the 2019 HotelTechAwards, Get Into More’s strategic tool manages meetings, events, and groups for both branded and non-branded hotel. The tool visualizes data and enables better analysis outside of spreadsheets and reports. For properties building a la carte events/meeting technology, this is a go-to for business intelligence. Group Sourcing & RFPs When sourcing groups, timing is everything. Strong RFP management capabilities ensure that your team is responding to the highest-value RFPs quickly and accurately. One of the biggest struggles faced by event planners is the lack of timely responses to their requests; some even complain that venues don’t even respond. This delay is directly tied to the increase in RFPs received by hoteliers. Reducing the delay is a main benefit for hoteliers that use an RFP management tool that streamlines responses. These tools can pull together responses quickly, and even provide more self-service options to event planners so that hotels have less work to do for each proposal. Group sourcing is also a key part of this category. The major players, such as Cvent, offer hotels a direct line to event planners. These tools are able to match hotels with groups by looking at the characteristics of each group and determine hotels that would be ideal venues. This makes inbound RFPs more likely to be a good fit for hotels, reducing staff labor and increasing the odds of closing group business. Here are a few group sourcing options, as well as one startup to consider. Cvent Hospitality Cloud: Cvent’s platform achieves three things: help hotels find buyers through increased visibility, win business with lead scoring, and optimize business with metrics and business intelligence. Reviewers appreciate the ability to set up a profile at the property level that includes a variety of offers, which increase transparency with meeting planners. Cendyn Sales Suite: Cendyn also takes the platform approach. Its Sales Suite ties into Cendyn’s other products and centers around its eRFP automation, which reduces RFP response times while increasing the accuracy. Reviewers mention an innovative video chat function gives sales teams a way to differentiate proposals with video content. Startup to consider: The top reviewed vendor in group sourcing/RFP management is Event Temple, popular with those who don’t want to tie into a larger platform with many bells-and-whistles. Reviewers love its all-in-one approach, which assists with everything from lead prospecting, client retention, email automation, ROI analytics, and performance metrics. Event planning software Hoteliers use event planning software to manage the operational intricacies of on-property events. From collaborating on table layouts to providing a visual layer for event planners to request proposals, these tools improve the experience for everyone. By providing event visualization capabilities that represent your space and your resource inventory, you can deliver on the meeting experience, plan events faster, easier and more accurately. Ultimately, this makes event planners more confident and secure in their venue selections because they can visualize how the event may look in a particular space. There’s also the issue of uneven transfer of information. In traditional models of managing event sales, there can sometimes be some missed information in the hand-off from sales to catering. Event planning software ensures that hotels deliver exactly what’s been promised to the event organizer. There are fewer questions and stronger accountability. The These are the top event planning tools, as well as one startup to consider. Amadeus Hospitality Diagramming: Amadeus’ diagramming tool allows properties to accurately plan events with organizers, planners, and guests. The intuitive interface via the web makes it easy to organize room plans, including a 3D virtual walkthrough of the completed room. Plans can be shared with others for review, feedback, and approval. Social Tables: Owned by Cvent, the tool has expanded functionality to become integral to many event planners worldwide. The focus on collaboration between planners and properties on both mobile and desktop. The suite also features online sales and marketing solutions, 2D and 3D room diagramming, business intelligence for hotels, and event attendee management. Startup to consider: Allseated’s scrappy approach appeals to independents and technologists alike: the freemium business model lowers barriers to entry and the immersive 3D walkthroughs of specific events is a huge bonus to event planners and guests. Where Should You Invest Right Now? Sales and catering technology can transform the way your hotel approaches group business. With the right tools, your sales team can prospect more effectively and your catering team can deliver knockout events that make guests sing their praises. While this category of technology can be a lot to sift through, focus on the functionality with the biggest bang for your buck. If you already have a CRM (and your team actually uses it daily), then it may be best to focus on event planning software and diagramming solutions that give event planners a way to visualize their events. However, if your sales team isn’t using a CRM yet, now may be the time to invest in a holistic solution that provides both sales tools and event management. The most underinvested area within this space lies in meetings and events intelligence solutions. Such solutions provide near instant ROI and should be considered by every type of hotel that has a decent group business mix. With a comprehensive capability at the heart of your group sales and event delivery operation, you’ll see a massive improvement in productivity, revenue, and client satisfaction.
In pursuit of more conductive, unconventional workspaces, business types are leaving their sterile offices in large numbers. There has been a steady increase of worker on the move in recent years, which is to say that more and more of them do not possess a steady office anymore. Parts of the hospitality sector are adapting in order to meet this new demand spike. Namely, forward-thinking hotel brands are figuring out how to accommodate a new wave of mobile workers. They are reconverting their capacities into places for both work and sleep in order to support changing work patterns and habits. And that is just the beginning. The game has changed Increased mobility and the modern communication technology surge are reshaping the way we go about our obligations and daily tasks. Business travel is on the rise and the lines between personal and professional are blurred. Being chained to an all-purpose workstation for the better part of the day is no longer an appealing proposition or everyone’s idea of having a really productive time. Business owners have a lot to think about here as well. Does it really make sense to commit to long-term leases for office buildings when they can rent small-scale meeting rooms and other spaces in hotels? Well, companies determined to trim overheads are encouraging transient workers to flock to hotels. After all, real estate usually represents the second largest expense for an average business. On top of that, not having too many workers in the office every day solves problems such as continuous reduction is space allocation, high noise levels, lack of space for focused and solitary work, and increasing sharing rates—issues that are even more pronounced in open-plan corporate environments. This does not spell the end of assigned and permanent workspaces altogether, but we could be heading in that direction. Reinventing the lobby More and more hotels are allowing guests and non-guests to use communal spaces with Wi-Fi and mingle and network there. We are also witnessing pop-up offices sprouting up across the hospitality sector. Of course, while some people are happy to just have a desk and internet, others want more. One of the issues hotel-based workers would often face is privacy. The good news is that things are looking up in this department as well. Today’s hotel rooms are more flexible, offer a high level of privacy and customization opportunities. All of that is available and packed in a smaller footprint. Furthermore, hotels that go the extra mile are increasing the amount of useful, revenue-generating spaces. They are taking on contemporary office refurbishment projects to transform underutilised capacities and give off a strong professional impression. Some chains feature whiteboard areas for brainstorming, workstations that multiple people can use, and even entertainment amenities in the form of gaming consoles. Lounge areas serve as interview and meeting spaces, a role that lobbies used to fill before. Speaking of lobbies, they are now turning into multifunctional areas with bars, coffee shops and chill-out zones. There, one can eat, drink, meet and work. Taking work experience to new heights Another trend is hotels connecting their indoor and outdoor spaces. We see rooftop terraces, bars and restaurants, as well as other areas popping up in major cities across the globe. They want to enable workers to experience the surrounding city or natural features. Moreover, it is also possible to play mini golf, unwind by the pool, take advantage of wellness facilities and get the taste of unique dining experiences in themed restaurants. You could say that hotels are well aware that modern employees often have to tackle a variety of diverse tasks throughout the workday. Thus, they want to give them a chance to move around and choose how they will utilize the space. All in all, there is so much more a hotel can offer than a traditional office. It is high time to wake up to the new reality: The future is now and it is only a matter of time before other hotel brands and businesses jump on the bandwagon. The best of both worlds Recent years have brought forward a profound shift in how people perceive spaces designed for leisure, work, and other life priorities. Hit by these winds of change, the hospitality sector itself is undergoing a transformation, bent on capitalizing on developments like digital revolution, shifting demographics, and new work practices. These days, hotels provide a combination of communal, social hubs, various entertainment amenities and private enclosed areas. Dropping out of the 9-5 office cycle, next-generation professionals eagerly spend time there, exerting freedom over where and when to work.
Meetings & Events Category Press Releases
Hotel Tech Report has named Delphi 2018’s top rated Sales Software 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. “The GM of perhaps New York’s most esteemed hotel once told me that he viewed his property like a factory. He elaborated that he viewed group business as the output of that factory and that leisure was the excess capacity that he flexed seasonally and cyclically. Without effective sales software, your factory doesn’t stand a chance” says Hotel Tech Report’s Jordan Hollander. Get a FREE Delphi Hotel Software Price Quote Amadeus’ Delphi Sales & Event Management product line is poised for sustained growth in 2018. Hoteliers recognized the product’s ability to deliver an incredible return on investment with a score 6% higher than the category average. “Delphi provides powerful functionality for sales and catering, account and contact management, and reporting and analysis that help properties and venues drive revenue, increase operational efficiency, and improve guest satisfaction” says a Boston based corporate Director of Sales with over 10 years experience in the hotel industry. "Delphi is great tool for managing function space, available guest room inventory and evaluating group business opportunities," says a California based DOSM. "Delphi provides powerful functionality for sales and catering, account and contact management, and reporting and analysis that help properties and venues drive revenue, increase operational efficiency, and improve guest satisfaction," says one Director of Sales. Get a FREE Delphi Hotel Software Price Quote
For the past 3-months, more than one hundred of the hotel industry's top tech firms across 40+ countries have campaigned in the 2018 HotelTechAwards joining in Hotel Tech Report's mission by leveraging customer feedback and transparency to speed up the pace of global innovation. Companies competed for the coveted top spot across 30 critical categories of hotel technology and today, Hotel Tech Report is proud to announce the 2018 winners. The HotelTechAwards segment top technologies into the following categories: Marketing - technology that attracts new customers Revenue - technology that optimizes distribution and informs business strategy Operations - technology that helps hotels run efficiently Guest Experience - technology that differentiates the guest stay at a hotel Hotel Tech Report's global hotelier community rallied behind participating top vendors by contributing invaluable qualitative product feedback as well as more than 7,500 data points across key metrics including: ease of use, customer service, implementation, ROI and likelihood to recommend (learn more about scoring) to help determine winners. So what is the significance of the HotelTechAwards? "For the first time, hoteliers can reference an unbiased source of information provided by their peers and verified by a 3rd party to help them easily learn about and discover the best technology for their hotels. Hoteliers can often be slow to adopt new technology. The reality is that they're slow for a reason--the wrong choice in a vendor can risk both their hotel's profitability and even their personal career" says Hotel Tech Report's Adam Hollander. "Whether its lost revenue from a poorly optimized mobile website, a lawsuit from a security system that failed to record or a hit to their P&L from a poorly calibrated revenue management system--hoteliers are justified in being especially cautious during the technology vendor selection process. The HotelTechAwards serve as a platform to help educate hoteliers and keep their respective hotels competitive in a world where tech giants like Airbnb and Expedia are looking more like their compset than ever." Quantitative data is extremely important for selecting the right technology for any hotel company. What is the ROI? What’s the uplift in conversion, how does a product improve guest satisfaction scores or decrease service response times? Quantitative data drives the promises made by vendors during the sales process. Subjective data from unbiased customer reviews enables decision makers to see how well vendors deliver on those promises. The winners of the HotelTechAwards are the companies who have both world class products and incredibly strong relationships with their customers. To all of the companies (view all) who embraced customer feedback and transparency by campaigning in the 2018 HotelTechAwards, we commend you for your service to the industry at large and are now proud to present to you--the winners of the 2018 HotelTechAwards: Bonus Feature: The 10 Best Places to Work in Hotel Tech