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18 Must-Have Features of a Hotel Management System

by
Hotel Tech Report
1 month ago

Choosing a hotel management software system is like buying a car: it’s easy to feel overwhelmed by the plethora of options, and it can be difficult to find trusted advice about the PMS features you need most. “There’s often a misconception in business software that one size fits all. Every hotel has very specific needs based on property size, chain scale, geography, and dozens of other variables. On top of that, every owner or manager has their own preferences in terms of design, usability, and support.  It is absolutely critical to narrow down the problem you’re trying to solve to engage with PMS vendors, and ensure you aren’t being sold on things that your property doesn’t need” says Amelia Gain, CEO of popular Hotel PMS company Preno. Hotel industry veterans often use the analogy of a duck on a lake to describe hotel operations.  Above the surface, the duck appears calm and collected, but under the surface its legs are kicking furiously. Guests are often stressed with their own travel plans, or are trying to escape stress altogether during their holiday, so it is critical for staff to appear calm and relaxed regardless of the hustle and bustle. Technology is one of the key tools that hoteliers leverage to make operations appear effortless to guests, and hotel management software is the single most important system in the entire hotel. Whether you work at an independent bed and breakfast or a global hotel chain, your hotel management system is the nucleus of your property. Nearly every member of a hotel team must access the PMS to perform daily tasks. Guest service staff need to prioritize hotel rooms that must be cleaned for early VIP arrivals. Sales & event management professionals need to block off rooms for groups. Hotel managers need to access the system for data and operating insights. Hotel management system vendor selection is one of the most important and difficult decisions a hotel operator will ever make. By the end of this article, you’ll know exactly what to look for so that you can make informed technology decisions for your property.   The Most Essential Hotel Management Software Functionalities Let’s start with the basics. These features are true must-haves for any modern hotelier who wants to use technology to improve the guest experience, make back office operations more efficient, and build lasting relationships with guests. Intuitive & easy-to-use interface: A user-friendly interface is the most important factor when choosing mission-critical software for a hotel. If your hotel software is complex and confusing, more mistakes will be made, costing you more money. Common tasks should not take lots of time and steps, as this slows down your team and limits your ability to grow quickly – hence the need for a powerful hotel management software system. Mobile & tablet optimised: When your manager, housekeeping team, and other staff members need to check details on a booking quickly they shouldn’t have to rush back to the office. Any system you use must not only be accessible by, but also optimized for use on mobile phones and tablets. Better yet, your owner should be able to check performance while on holiday. Clear visibility of the grid: Adding special events that are happening in the region, highlighting returning guests, and identifying guests who are yet to pay their bill are all features your grid should enable by default. Your grid should allow you to quickly & easily see key information about your guests. Guest profiles: Are you working on building guest loyalty? Guest profiles store your guests’ contact information, stay history, and even preferences, so that you can deliver a more personalized experience during their next stay. Better yet, a guest profile with stored CC’s of your guest will make it even easier for returning guests.  Email automation: You can communicate with guests and reduce manual work for your staff by deploying personalised, customised, and automated emails. Using your own templates, automated email functionality allows you to build a communication journey from the initial booking to targeted offers for repeat guests. Housekeeping management: Your PMS should allow your housekeeping team to mark rooms as clean, dirty, or out of order. Having this information in one central place gives the front desk visibility of room statuses, so that they can accommodate early check-in’s and room moves without needing to radio the housekeeping supervisor.     Reservation management: Perhaps the absolute most essential PMS feature is reservations management and front office features. By housing all of your reservations digitally, hoteliers can make a paper reservation book a thing of the past. Within reservations management, you should be able to set rates, control availability, offer promotions, and visualize reservations on a calendar. Room management: The room management module of a PMS is like your virtual front desk. This functionality lets front desk agents check guests in and out, and cancel or extend reservations with just a few simple clicks. Group bookings/reservations: If your hotel plans on hosting any type of event or group of guests, then group reservations functionality is crucial. Group reservation features include allowing guests to book reservations within the room block, exporting a room list, and configuring billing settings so that you can bill one account for multiple rooms. Invoicing: When most guests check out, they want a copy of their bill, so, your PMS should be able to easily export guests’ folios that contain all charges from their stay. Similarly, you’ll want solid, straightforward financial reporting that helps you reconcile revenue and expenses from room revenue, outlets, vendors, and more. Payment processing: Gone are the days when guests paid with cash or cheque, so you’ll want a PMS with a payment processor integration that allows you to effortlessly charge guests’ credit cards and have secure access to major payment gateways. Business intelligence & reporting: How do you know if your hotel is doing well if you can’t measure your performance? A PMS with robust reporting features will give you insight into your revenue, ADR, RevPAR, and a slew of other metrics so that you can find opportunities for growth – and track your progress toward your goals. Rate management: Do you want to offer a non-refundable rate or value-added packages? If so, you’ll want rate management functionality that allows for multiple, customizable rate plans.     User logs & permissions: With so much turnover in the hotel industry, it is important to keep front-line staff accountable with detailed user logs to have an automated record in case of any mistakes, as well as to ensure proper training and issue resolution. Additionally, we are living in a world where consumers demand heightened security, so it is critical that staff are only able to access the parts of the hotel management system required to complete their core tasks without unnecessarily accessing sensitive information like credit card data.   Key Software Integrations to Supercharge Your Hotel Property Management System A PMS is an important software partner in its own right, but running a hotel is very complex, which usually means that more feature functionality will be needed than a PMS can provide.  For that reason, some of the most important PMS features are actually software integrations with other key systems to unlock more value and performance through real-time data sharing and triggers. Let’s explore some of the most critical PMS add-ons. Accounting software: Accounting is an ever-changing, complicated industry, and you don’t want to be stuck with software that is out of date when rules change. As such, you should look for software that has robust and complete integrations to the world leaders of accounting software like Xero. This will empower you to streamline your invoicing, reconciliation, commission payment, and billing processes and automate repetitive tasks to help your finance department run more smoothly. “Whether you’re tracking agency commissions or configuring payment policies for groups – it is vital for hotels of all sizes to have a seamless integration between their property management system (PMS) and hotel accounting software. Why? It saves countless hours of tedious administration via automation,” says Preno’s CEO, Amelia Gain. Point-of-sale system integration: If your hotel has a restaurant, bar, spa, or other outlets, then an integrated POS can do wonders for your operations. When your POS can talk to your PMS, guests can seamlessly charge purchases to their room, and you can keep a record of guest purchasing activity to analyze trends and personalize future loyalty offers. Channel manager: Do you work with third-party channels like Booking.com and Expedia? If so, you’ll need a channel manager to push your rates and availability to these platforms, and more. In return, it will send reservations back to your PMS to capture more hotel bookings. A channel manager can also prevent overbookings by syncing with your PMS since it will know when to turn off distribution as a certain room type gets sold out. Channel manager software solutions are also important for hotels to optimize the allocation of rooms across channels and to ensure maximum profitability.   Booking engine: Allow guests to book directly with you, with no expensive commissions. An online booking engine, which publishes your rates and availability to your website, collects the necessary information from guests, and creates reservations in your PMS. Looking for more advice and information on hotel management systems? Download Hotel Tech Report’s 2021 Hotel Management Software Buyer's Guide to inform your vendor search.   This content was created collaboratively by Preno and Hotel Tech Report.

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The 9 Most Futuristic High Tech Hotels in the World

by
Hotel Tech Report
2 months ago

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

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The 10 Best Places to Work in Hotel Tech 2021

by
Hotel Tech Report
5 months ago

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

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Cloudbeds, SiteMinder & Room Raccoon Top People’s Choice Awards in the 2021 HotelTechAwards

by
Hotel Tech Report
5 months ago

Each year along with individual awards for the top-rated hotel software in each category, Hotel Tech Report recognizes the Top 10 most customer-centric global companies in the annual People's Choice Awards. The People's Choice Awards serve to honor and recognize companies who have balanced strong growth with a relentless focus on customer-centricity. The HotelTechAwards platform (by Hotel Tech Report) leverages real customer data to determine best of breed products and companies that help hoteliers grow their bottom lines. “The People’s Choice Award goes to a single company across all categories who demonstrates the strongest customer relationships during the HotelTechAwards.  Cloudbeds had more than 550 hotelier customers come out to share overwhelmingly positive feedback about Cloudbeds products in the midst of a global pandemic.  To have that kind of support from clients during the most challenging market in hotel history says all you need to know about Cloudbeds’ commitment to their partner properties,” says Hotel Tech Report CEO Jordan Hollander. Here’s the Official 2021 People’s Choice List: Cloudbeds SiteMinder RoomRaccoon Bookassist OTA Insight ALICE IDeaS Avvio Hoteltime hotelkit The key factors used to determine the annual People’s Choice Award include total verified customer reviews, geographic reach of reviews, and overall review sentiment and ratings. The best companies know that the most effective way to communicate their value proposition is to empower and amplify the voices of their happy customers.  The People’s Choice Award recognizes companies whose customers really value the relationship and partnership. “Twenty years ago we lived in a world where hoteliers just used one of the three or four technology systems out there and typically just ended up using whatever system they had heard of before.  Today there are thousands of SaaS choices in the market and dozens of great options available for most use cases but the market is moving so quickly that it’s hard for hoteliers to identify and keep track of the best products and companies.  This award honors the companies whose hotel customers are the most vocal advocates of their products to make that process easy,” says Hollander.   About the 2021 People's Choice Award The People's Choice Awards serve to honor and recognize companies who have balanced strong growth with a relentless focus on customer-centricity.  Early on as a startup, it’s easier for companies to maintain strong customer relationships with a limited customer base. But as a company grows its install base and scales globally, maintaining high customer satisfaction becomes increasingly more challenging.  Each year along with individual awards for the top-rated product in each category, Hotel Tech Report recognizes the top 10 most customer-centric global companies in the annual People's Choice Awards acknowledging the achievements of top innovators across all categories who embody the values, transparency, and customer-centricity that lie at the core of truly great companies. View Ranking Methodology>>

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Winners of the 2021 HotelTechAwards Announced

by
Hotel Tech Report
5 months ago

Hotel Tech Report has announced winners in the 2021 HotelTechAwards, based on more than 10,000 hotel software product reviews contributed by verified hoteliers during the competition.  Winners are selected based on key performance metrics including product popularity, customer satisfaction, integration compatibility, customer support quality, and more.  Winning a HotelTechAward is the highest achievement in the hotel technology industry. “In the midst of a global pandemic, 318,466 hoteliers visited Hotel Tech Report from every corner of the globe contributing 10,227 verified new product reviews during the 3-month awards period to share insights about their favorite tech products to run and grow their businesses.  It has been inspiring to see this massive wave of hoteliers sharing technology insights and product recommendations,” says Jordan Hollander, CEO of Hotel Tech Report. “This is the most comprehensive dataset around hotelier preferences ever developed and it gives unprecedented insights into tech trends for hotels during a pivotal moment in history.  Winning a HotelTechAward is a huge feat with the 2021 competition being the most competitive year ever.  Every company on this list should be extremely proud of what they've contributed to the growth of the hotel industry.” During the HotelTechAwards, hoteliers from the world's leading hotel companies review the top tech products used at their hotels to increase operating efficiency, drive revenue, and improve the guest experience. This data is used to identify the best hotel tech products and organizations. "The HotelTechAwards  are the only prize in the industry that is completely and transparently customer-driven — it's the hoteliers that decide who is best, and it's their opinion that matters most." Gautam Lulla, CEO at Pegasus. "We at SiteMinder believe strongly in the essence of openness; it is what underpins the very core of what we stand for, and the HotelTechAwards, through the program's data-driven and transparent process, aligns firmly with this value.” - Sankar Narayan, CEO at SiteMinder “This honor has deep, personal meaning as it is decided upon by our clients and represents our passion and focus for providing the most sophisticated revenue technology and comprehensive support.” Dr. Ravi Mehrotra Founder at IDeaS “The HotelTechAwards are a powerful stamp of approval for any company to possess and for hoteliers to trust. We value the HotelTechAwards process, which collects thousands of verified reviews from around the world each year.” Alex Shashou, Co-Founder at ALICE “HotelTechReport is the leading platform for technology in the hotel industry, and its meticulous and impartial verification process makes this one of the most prestigious awards.” Moritz von Petersdorff-Campen, Co-Founder at SuitePad The competition spans core areas of hotel software & technology: marketing, revenue, operations, and guest experience. 2021 Voting included participation from major hotel groups including Four Seasons, Hilton, Marriott, Accor Hotels, Hyatt, Intercontinental, Rosewood, and thousands of independents. "We originally created the HotelTechAwards as a democratized way to help our fellow hoteliers quickly determine best of breed vendors based on data they can trust and the scope of the competition this year is a testament to how far the industry has come in the last decade.  The HotelTechAwards rating process is simple, transparent, and unbiased--judging is based on time tested ranking factors, publicly available data, and crowdsourced insights from verified hoteliers who have hands-on experience with each product.” The HotelTechAwards are often referred to as "the Grammys of Hotel Tech" and winners were selected from the top technology products around the world. The HotelTechAwards are the industry's only data-driven awards platform with winners determined not by a handful of judges or popularity votes but by a global community comprised of thousands of verified hotel technology users across more than 127 countries.   Best Hotel Software Companies List >>

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2021 HotelTechAwards Finalists Announced

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Hotel Tech Report
5 months ago

Hotel Tech Report has announced finalists in the 2021 HotelTechAwards, based on more than 10,000 hotel software product reviews from verified hoteliers during the competition.  Finalists are selected based on key performance metrics like product popularity, customer satisfaction, integration compatibility, customer support quality, and more.  Winning a HotelTechAward is the highest achievement in the hotel technology industry. “In the midst of a global pandemic, 318,466 hoteliers visited Hotel Tech Report from every corner of the globe contributing over 10,000 verified new product reviews during the 3-month awards period to share insights about their favorite software products.  It has been inspiring to see this massive wave of hoteliers sharing technology insights and product recommendations,” says Jordan Hollander, CEO of Hotel Tech Report. “This is the most comprehensive dataset around hotelier preferences ever developed and it gives unprecedented insights into tech trends for hotels during a pivotal moment in history.  Finaling in the HotelTechAwards is a reflection of quality every company on this list should be extremely proud of what they've contributed to the growth of the hotel industry.” Hotel Tech Report authenticates reviews through a strict verification process.  Further, companies are ranked based on pre-defined objective data variables to avoid the biases present in other human judged competitions. "Based on real and honest customer feedback, the HotelTechAwards really do provide the most transparent view on how technology is perceived and used across the industry,” says Sean Fitzpatrick, CEO at OTA Insight. The HotelTechAwards are often referred to as "the Grammys of Hotel Tech" and finalists are selected from more than 1,000 of the top technology products around the world. The HotelTechAwards are the industry's only data-driven awards platform with winners determined not by a handful of judges or popularity votes but by a global community comprised of thousands of verified hotel technology users across more than 120 countries.   -- Competition winners will be publicly announced on January 12th --   Best Guest Experience Technology Finalists Guest Messaging Software: Whistle, EasyWay, Monscierge Guest Room Tablets: SuitePad, INTELITY Guest Survey Software: TrustYou, Guestrevu, Revinate Hospitality TV Providers: Monscierge (Apple TV) Mobile Key: ASSA ABLOY Global Solutions, FLEXIPASS Mobile Ordering: Bbot, RoomOrders Hotel Guest Apps: ALICE, INTELITY, Wishbox   Best Operations Software Finalists Property Management Systems: Cloudbeds, Mews, Clock PMS+, HotelTime Staff Collaboration: hotelkit, Monscierge, ALICE Hotel Management Systems: RoomRaccoon, Cloudbeds Concierge Software: ALICE Cyber Security & Fraud Prevention: Canary Technologies, Sertifi Digital Signage: Monscierge Housekeeping Software: hotelkit, ALICE, Optii Marketplaces & Integrators: Hapi, Dailypoint Preventive Maintenance: hotelkit, ALICE, Transcendent Restaurant Management: HotelTime, Oracle MICROS POS Employee Engagement Software: hotelkit, Hotel Effectiveness, Beekeeper Contactless Check-in: EasyWay, Canary Technologies, Wishbox Spa Management: HotelTime   Best Revenue Management & Finance Software Finalists Revenue Management Systems: IDeaS, Duetto, Atomize Business Intelligence: OTA Insight, Duetto, ProfitSword Central Reservations Systems: Pegasus Channel Managers: SiteMinder, Cloudbeds, D-EDGE Parity Management: OTA Insight, RateGain Rate Shopping & Market Intelligence: OTA Insight, SiteMinder, RateGain Reporting & Accounting: M3, MyDigitalOffice Upselling Software: Oaky, GuestJoy, EasyWay   Best Marketing Tech Finalists Booking Engines: Cloudbeds, Bookassist, SiteMinder Hotel CRM & Email Marketing: Revinate, Profitroom, Dailypoint Digital Marketing Agencies: Bookassist, Avvio, Net Affinity Direct Booking Tools: Triptease, Hotelchamp Website Live Chat and Chatbot: Asksuite, Whistle Independent Loyalty Programs: The GuestBook Metasearch & Ad Tech: Bookassist, Avvio, Koddi Reputation Management: TrustYou, Guestrevu, Revinate Hotel Website Design: Bookassist, Avvio, Profitroom   Best Meetings & Events Tech Finalists Event Management Software: Event Temple Group Sourcing & RFP Software: MeetingPackage, Venuesuite Meetings Intelligence Software: Duetto, IDeaS Sales CRM: Event Temple, MeetingPackage  

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What is an Occupancy Rate? Real Estate's Core KPI Explained

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Hotel Tech Report
2 months ago

Percent occupancy is a key concept and KPI used in real estate businesses as a that shows how much available space there is in a building relative to space that is leased or rented. Simple, right? Wrong.  Occupancy rate has a ton of nuance and is massively important to real estate businesses so the broader concept requires a fundamental understanding of what occupancy says about a property, how to compare it to other businesses and how it ties to other metrics like length of stay, RevPAR, ADR, NOI (net operating income) and cash flows. In this article we'll dive into hotels occupancy rate but the concepts we cover are very similar across other real estate businesses like apartments, vacation rental units, retail and office buildings.  Occupancy is one of the most important metrics for revenue management teams to track. Many travelers have been shocked to see that despite up to 90% drops in occupancy due to the coronavirus pandemic, rates haven't fallen nearly as much.  In this article we'll start to explore why that might be and more. If you’re new to the hotel industry or looking for a refresher on some common metrics, you may be wondering: what is an occupancy rate? Why is occupancy rate important to hotels? In this article, we’ll explain exactly what the occupancy rate represents, how to calculate it, and why it’s a crucial part of measuring hotel performance. By the end of the article, you’ll be able to calculate occupancy rates (and RevPAR!) and think about the ideal occupancy rate for your hotel.   What is the Definition of Occupancy Rate? (+Formula) In the hotel industry, the occupancy rate represents the share of occupied rooms during a certain time period. Occupancy Rate is usually expressed as a percentage. Occupancy Rate (%) = Number of Booked Rooms / Total Number of Rooms Let’s look at an example: If Hotel A has 83 rooms, and 70 of them are booked tonight, then tonight’s occupancy rate is 84%. Hotel A’s Occupancy Rate = 70 / 83 = 0.84337, or 83% You can calculate occupancy rate for any time period by dividing the total number of booked rooms in that period by the total number of available rooms in that period. If some rooms at your hotel are out of order (for maintenance, renovation, etc.), it’s customary to subtract those rooms from the “total number of rooms” to maintain a more favorable occupancy rate. Fun fact: In the airline industry, the “occupancy rate” of an airplane is called “load factor.”   What is a Good Occupancy Rate for Hotels? If you think about a good occupancy rate for hotels, the logical answer is 100%. Of course, you would think every hotelier wants their hotel to be completely full every night. But a 100% occupancy rate may in fact not be the most profitable way to run your hotel. For many hotels, an ideal occupancy rate is between 70% and 95% - though the sweet spot depends on the number of rooms, location, type of hotel, target guests, and more. If you’ve booked every room, you might have left money on the table by not selling higher rates, and your costs can increase when every room is booked. The ideal occupancy rate for your hotel is one that allows you to maximize revenues and minimize costs. Luxury hotels will also want to deliver exceptional service to every guest, a task which becomes more difficult as the number of guests rises. For example, if your hotel is selling out every day - with reservations booked well in advance - there’s probably an opportunity to increase your rates. Of course, you’ll likely have a few sold-out nights here and there, like during holiday periods or special events, but if your hotel has 100% occupancy every night, then there is enough demand to support a rate increase. Besides the revenue component, a 100% occupancy rate can mean an increase in costs. If you have 95 rooms, for example, and each housekeeper can clean 10 rooms per day, it may be in your best interest to book up to 90 rooms each night so you don’t need to hire an additional housekeeper. Or perhaps a guest isn’t happy with their room; with a full house, you would have no alternate room to offer the guest, so you might need to offer a discount or another type of service recovery.   How Do Hotels Increase Occupancy Rate? Many hotels, however, don’t struggle with a 100% occupancy rate every night. Many hotels actively try to increase occupancy, since a high occupancy rate comes with many benefits - compared to a low occupancy rate, that is. When your hotel has higher occupancy, you have more guests in-house, which means potential for higher revenues at your F&B outlets, spa, shops, or other outlets, plus a greater opportunity to spread awareness of your brand and build guest loyalty. In order to increase your occupancy rate, your hotel needs to book more reservations and room nights. A hotel can increase the number of reservations - and therefore, occupancy - through several tactics: Selling lower rates (especially through promotions and discounts) Offering incentives for longer stays Running marketing campaigns Partnering with online travel agencies (OTAs) and travel agents Targeting specific types of guests who stay longer Discouraging cancellations by selling non-refundable rates If your hotel is trying to increase occupancy but still not hitting the 90% range, remember that globally, the average occupancy rates for hotels range from 65% to 80%.   Why Do Hotels Track Occupancy Rate? Occupancy is a great benchmark to assess a hotel’s position against its competitors and its own historical data. Knowing how your hotel is doing compared to other hotels in the market and previous years can help you set rates, predict stay patterns, schedule staff, and plan renovations or maintenance. If you know a certain weekend will have high occupancy, based on your historical data, then you can schedule enough staff and not plan a renovation over those dates. Hotel owners and operators often set occupancy rate, ADR, and RevPAR goals, so occupancy rate is a major component in measuring the hotel’s overall performance. Occupancy rates can therefore impact future capital expenditures, employee salaries and bonuses and brand relationships. Occupancy rates vary dramatically by market segment based on number of units or chainscale and even for different types of hotel rooms within the same hotel.   What is the Relationship Between Occupancy Rate and RevPAR? RevPAR, or Revenue Per Available Room, is a metric that takes into account both occupancy rate and ADR (Average Daily Rate). RevPAR is like a weighted version of ADR; it distributes the ADR equally across all available rooms - not just the booked ones. Like occupancy rate itself, RevPAR is used as a performance metric to determine how a hotel is performing. RevPAR is expressed in currency units, just like ADR. RevPAR is calculated by multiplying ADR by the occupancy rate. ADR is simply the average room rate booked for a given date or time period. RevPAR = ADR x Occupancy Rate Let’s say Hotel A’s ADR was $98 on the night when occupancy was 84%. Hotel A’s RevPAR is then $82.32. Hotel A’s RevPAR = $98 x 0.84 = $82.32 Overall, occupancy rate is a key indicator of a hotel’s historical, real-time, and future performance. Many stakeholders - from owners to housekeeping staff - use occupancy rate to shape their decisions. Did we miss any tips or tricks related to occupancy rate? Let us know!  

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Why is PMS Software Different for Hotels, Vacation Rentals and Apartments?

by
Hotel Tech Report
9 months ago

Hotels, apartments, and vacation rentals each have their unique characteristics but what about their software? The property management system is the core of the tech stack at any accommodation business, but, as we’ll discuss in this article, not all property management systems are the same. If you’re considering implementing a PMS or switching from your current vendor, this article will help you understand the intricacies of systems designed for specific types of properties. With the right software partnership, you can run your hospitality business more efficiently and focus on delighting your guests (or tenants).   Very Different Guest Journeys Based on Length of Stay The apartment "guest journey" is relatively straightforward.  Prospective tenants view an apartment they like with a leasing agent, decides to rent and then moves in.  Prior to move in they complete a credit check and setup payment through an online payment portal that gets drawn upon in monthly increments. The next most complex guest journey exists in vacation rentals where prospective guests find a rental unit via an online travel agency like Booking.com or Airbnb.  They'll often communicate with the owner via the platform they booked on and use a mobile check-in method like keyless entry upon arrival.  Rooms aren't cleaned until the guest checks out and there are no on site outlets or amenities. Hotels offer the most complexity in guest journey with ultra high touch amenities delivered by often large teams of hotel staff.  The hotel industry is all about guest service.  Guests usually make direct bookings on a hotel website or via an OTA.  They'll receive email or text message communication prior to arrival.  Upon check-in, guests are greeted by a front desk agent and taken to their room by a bellman.  Their room gets cleaned each night and they enjoy hotel amenities like room service, on-site restaurant and spa outlets and more.   What is PMS Software? Let’s start at the beginning: what is a property management system anyway? A PMS houses all the organizational and administrative tools you need to run a multi-family business, hotel or short-term rental in real-time and automate core functions like booking and reservation management.  Key functionality in hotels and vacation rentals includes a calendar where you can manage reservations, a booking engine for your website, a dashboard for housekeeping to mark clean and dirty rooms, a guest information database, and various financial reporting. Some PMSs have an integrated channel manager which handles connections to third-party booking sites. Many PMSs are cloud-based and offer mobile apps so you can manage your property from anywhere at any time. It's important to understand each of these journeys before diving into the core operating system of each, a cloud PMS, because each PMS is designed for both the complexity and jobs to be done of both staff and guest journeys.  Where hotel property management software requires functionality like connecting to major international payment gateways an apartment reservation system might only require local payment processing since tenants are by definition locals.   Hotels, Apartments and Vacation Rentals Are Converging We're seeing a major convergence in the real estate and hospitality industry where the guest experience in certain segments of the hotel market is looking more like vacation rentals and vice versa.   Adding to that, companies like Sonder and Why Hotels are turning apartments into short term rentals and hotel rooms while Airbnb is now a major distributor of hotel inventory. It's not hard to understand why.  The hotel business is all about delivering high guest satisfaction and incredible guest experiences - it's ultimately doing the same thing as the vacation rental business and even apartments.  Hotel operations tend to be the most complex given the focus on guest experience and presence of front office teams.  Generally speaking, the longer the duration of the rental, the easier the business is to manage meaning that apartments are the least operationally complex to run. The key difference between short term vs. long term accommodation software lies in the fact that apartment management systems generally focus on tenant functionality like community portals and subscription rent payments.  For shorter term accommodations, hotel and vacation rental PMS software focuses on credit card and payment functionality, facilitating online bookings and rate management.   Key differences in PMS software for Hotels vs. Vacation Rentals The daily operations of hotels and short-term rentals can be quite different, so it makes sense that property management systems would have unique functionality for different property types. But what are the biggest differences? Key points of differentiation include the room or unit type setup, the connections available in the channel manager, tools for daily operations, and integrations with third-party software.   Room Types vs. Separate Units When we think about the physical layouts of a hotel, short-term rental apartments, and vacation homes, several differences come to mind. At a hotel, you’ll find a lot of rooms, but those rooms usually fall into a few distinct room types. Short-term rental operators might manage many apartments, but each of those apartments might be unique and located in a few different buildings. Vacation homes can have their own addresses and often have different sizes, amenities, and policies. In order for hoteliers and property managers to get the most utility out of their software, property management systems must account for these differences. Hotel-specific software like Hoteltime will be set up for room types in the same building, while vacation rental-specific software is built for unique individual units often at different addresses. While hoteliers probably don’t add new room types on a regular basis, short-term rental operators expand their portfolios regularly, so it’s important that their software allows for easy addition of new units. Daily Operations The who, what, and where for daily operations is another major point of differentiation between hotels and short-term rental properties - and their software. At a hotel, many employees from various departments will use the PMS on a daily basis. Front desk agents, housekeeping staff, back-office employees, and the leadership team might all use the PMS at the same time. Tasks range from checking in guests, tracking housekeeping status, upselling rooms, entering reservations taken over the phone, and running reports for leadership meetings. It’s important for a hotel PMS like Hoteltime to allow multiple user accounts and levels of access rights. A vacation rental PMS, on the other hand, is used by fewer people and for fewer manual tasks. Vacation rental reservations are rarely taken over the phone, and, usually, a smaller team of staff interacts with the system. Since short-term rentals often don’t have a front desk, it’s crucial that property managers can access the PMS on the go, like via a mobile app. Most short-term rentals do not offer housekeeping mid-stay, so that functionality is less important. However, it’s crucial that a PMS can support automated check-in instructions and other communications that allow the guest to complete a self-service check-in. Smaller hotels (under 20 rooms) generally require all-in-one affordable hotel management software but may be able to use vacation rental software to manage their properties.  Check out our list of best hotel software for smaller properties. Channel Connections Not only do daily operations differ based on property type, but so do distribution strategies. If a PMS offers channel management functionality, you’ll notice that the supported channels vary with property type. Hotel-specific software will focus on connections to the big OTAs, like Expedia, Booking.com, and Agoda, plus to the GDS and travel agents. Most vacation rental-specific software also connects to Booking.com and Expedia, but connections to vacation rental booking sites like Airbnb, Vrbo, and Tripadvisor Rentals are essential. Hotel-specific software likely does not support connections to Airbnb, Vrbo, or Tripadvisor Rentals. Integrations Channel connections aren’t the only links between a PMS and other systems; property management software can connect to third-party apps that bring additional value to your operations. Hotel-specific PMSs will offer integrations with other hotel systems that usually happen via API, such as revenue management systems (IDeaS, for example), work order software (HotSOS), upsell software and point of sale systems (Micros). Vacation rental-specific PMSs integrate with a slew of vacation rental-specific software and apps, including dynamic pricing tools (PriceLabs), property-level security and monitoring systems (NoiseAware), keyless entry solutions (RemoteLock), guest communication tools (Hostfully), and more.   Have we missed any major differences between property management systems? Let us know!  

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10 Most Popular Hotel Management Software for Small Hotels

by
Hotel Tech Report
9 months ago

Here at Hotel Tech Report, we specialize in hotel management software reviews and recommendations. Our platform includes thorough research, verified reviews, and detailed specifications about hundreds of hotel technology solutions. Using this information, we can understand which software is most user-friendly and delivers the most value for various types of hotels around the world. We assign a “HT Score” to each system based on user satisfaction, reviews, and details from the vendor. This score signals the overall quality of the software, but more detailed specifications and ratings on the software page can help you determine whether the it would be a good fit for your hotel.     Each vendor’s page contains a robust description of features and functions, and verified users share their experiences so you can get an unbiased look at real-life usability.     Our review platform collects data about the reviewer’s hotel, so you can find reviews written by users from hotels like yours. This data also helps us understand which software works best for various types of properties.  For example, in these reviews you can filter for the most recommended products by boutique hotels.     What is the Best Hotel Management Software for Smaller Properties? Small hotels are often lighter staffed which means fewer people to do in many cases the same amount of work.  Small hotels may only have one manager who's wearing 10 hats like managing real-time bookings, setting up online booking portals, managing front office tasks, back-office (e.g. accounting), event management and the guest experience all at the same time.  Adding to this, the hotel manager may need hospitality software that can be run when they step away from the property and accessible via smartphone and other mobile devices. Similarly, smaller hotels are often more budget conscious so they need value add software at a reasonable price.  Often these smaller properties prefer a hotel property management system with an integrated online booking engine, hotel website builder and channel manager to sell on third parties like online travel agencies (e.g. Expedia, Booking.com) and GDS (travel agents). Gone are the days in the hotel industry when only the biggest hotel chains had access to great technology.  Today even the smallest independent hotels have access to sophisticated tools that facilitate complex areas of the hotel business like hotel reservations and inventory management. Smaller businesses like vacation rentals and guesthouses still have complex hotel operations like housekeeping, guest management, diverse booking channels and more.  A hotel PMS or hotel management system can help leaner teams run more efficiently. Given these unique needs, what is the best hotel management software for smaller properties?  We analyzed the best property management software vendors in the hospitality industry to create this list. Based on our research and analysis of user reviews, we’ve determined these 10 hotel management systems to be ideal for small hotels: RoomRaccoon Clock Guestline Cloudbeds Hotelogix RMS Hospitality Cloud eZee Absolute Misterbooking Frontdesk Anywhere WebRezPro What makes these solutions so great? Let’s explore the specifics of each one.   RoomRaccoon This comprehensive hotel management software delivers so much value and functionality that it was voted as the #1 Hotel Management Software at the 2020 HotelTechAwards! RoomRaccoon’s cloud-based platform offers a full suite of operational tools, plus a variety of third-party integrations and marketing features like a website builder and messaging tools. The system enables you to automate processes like billing, pricing, and guest communication, so it’s an excellent choice for small hotels who want to streamline their operations.     RoomRacoon’s features include: Multi-currency Multi-lingual Channel Manager Property Management System Booking Engine Website Development Point of Sale Group Booking Engine Pricing Intelligence Gift Vouchers Housekeeping What do HotelTechReport reviewers like about RoomRacoon? “RoomRaccoon HMS from a marketing perspective is real complete system. Especially the beautiful stylish booking engine makes it possible for independent hoteliers to get more direct bookings through their website.” “System saves me so much time, if I didn't have RoomRaccoon, I'd probably employ 1-2 people do to what RoomRaccoon can.” “Ease of booking management and guest communication, payment automation.” “The automated pre and post arrival mails offer the opportunity to advertise discounts and interesting information to the hotel guests.” What could be improved? “More advanced integrations with the current system for better communication.” “More detailed reporting.” “It would be perfect if you could see the customer reviews on the booking engine and if you could pay by bank transfer.” RoomRaccoon offers a 30-day free trial; after the trial period, subscription fees are $3-6 per room per month. Get a Price Quote | Read Reviews   Clock Clock offers an all-in-one solution for nearly every hotel management task you can think of. In addition to cloud-based property management functionality like reservation management and housekeeping operations, Clock has a booking engine for your website, automated upselling tools, and a self-service portal for guests. Clock’s robust features, ease of use, and relatively low monthly subscription fees make it a good choice for small hotels.     Clock’s features include: Channel Manager Property Management System Booking Engine Multi-Currency Point of Sale Pricing Intelligence Housekeeping Guest Feedback Management What do HotelTechReport reviewers like about Clock? “It's a fabulous intuitive interface that's easy to use” “The software is well designed and has simple process to get the results.” “Rich functionality for a Cloud solution - especially the rich guest profiles and integrated Guest Self-Service Portal with great guest functionality.” “Being a cloud based we are able to access this system on a number of different platforms. The support is excellent and any problems or queries are dealt with quickly and efficiently.” “Maturity of integrations with key 3rd party products via open Api architecture.” “The best feature about CLOCK is the team behind, they listen to their customers and constantly improve their software.” What could be improved? “Integration with the channel manager can be better.” “Not very much to be changed, maybe it could be helpful to have the option to edit multiple booking at the same time.” “Nothing to report, good product.” Clock offers a free trial for new users; after the trial period, subscription fees are $7-10 per room per month. Get a Price Quote | Read Reviews   Guestline Guestline’s cloud-based platform offers property management functionality, a channel manager, a booking engine, and a plethora of third-party integrations. This system is a favorite among small hotels due to its flexibility, user-friendliness, and hands-on support team. Guestline integrates with apps like Oaky, Revinate, and SuitePad so you can build your hotel’s ideal tech stack.     Guestline’s features include: Multi-currency Multi-lingual Channel Manager Property Management System Booking Engine Website Development Point of Sale Group Booking Engine Pricing Intelligence Gift Vouchers Housekeeping Guest Feedback Management What do HotelTechReport reviewers like about Guestline? “It’s very easy to use and easy to train people on.” “The product is really good, it simply does everything that you need - from the front desk to the accounts, everyone is happy.” “Great user interface, easy to manage, fantastic reporting tools.” “Support from Guestline is always prompt.” What could be improved? “Support can sometimes be a bit frustrating.” “It would be great if they could now provide a digital registration card for IPad so that we can eliminate paper completely.” Guestline’s fees include a one-time set up fee (dependent on property size) and a flat monthly fee under $500. Get a Price Quote | Read Reviews   Cloudbeds Cloudbeds consistently receives high ratings for its intuitive dashboard and proactive customer support, so it’s no wonder that it’s one of the most popular hotel management systems and a top choice for small properties. Cloudbeds offers a slew of tools, including reservation management, a booking engine, a channel manager, and integrations with third-party apps.     Cloudbeds’ features include: Channel Manager Property Management System Booking Engine Point of Sale Group Booking Engine Pricing Intelligence What do HotelTechReport reviewers like about Cloudbeds? “Our team quickly learned how to use the platform.” “We love the connectivity with our different channels - no more overbookings since we started working with Cloudbeds.” “Easy to use, streamlined, functional and integrated. This is the iOS of hospitality softwares.” What could be improved? “Only one currency supports at the moment.” “No mobile app available.” “Slightly on the expensive side for small hotels.” Pricing for Cloudbeds is less than $10 per room per month. Get a Price Quote | Read Reviews   Hotelogix Small-scale hoteliers will appreciate the robust functionality that Hotelogix offers in one cloud-based platform. Not only does this software include reservation management and automation for daily operations, but it also contains sophisticated reporting and analytical tools and a Point of Sale system that lets you run on-site F&B outlets, minibars, shops, and more. Hotelogix has a mobile app and integrations with many third-party apps like in-room technology and revenue management systems.     Hotelogix’s features include: Channel Manager Property Management System Booking Engine Point of Sale Group Booking Engine Pricing Intelligence What do HotelTechReport reviewers like about Hotelogix? “Hotelogix has a very nice Booking engine and many options for channel managers by which Hotel can connect and automate the inventory & rate management process for OTA.” “Accessibility is prime as it is cloud based so anyone can open it anytime.” “All kinds of Reports available.” “Excellent after sales support by a very professional team.” What could be improved? “I feel they should be more flexible in doing customization as per client request.” “The POS module require some improvement.” Hotelogix offers a 30-day free trial; after the trial period, the monthly fee is between $3 and $6 per room. Get a Price Quote | Read Reviews   RMS Hospitality Cloud Though RMS is suitable for hotels of all sizes, small hotels can especially benefit from its suite of features and approachable 24/7 support team. In addition to a property management system, the cloud-based platform contains a central reservations system, reporting and analytics, an email marketing tool, support for mobile check-in, and a library of training guides and videos.      RMS Hospitality Cloud’s features include: Multi-currency Multi-lingual Channel Manager Property Management System Booking Engine Website Development Point of Sale Group Booking Engine Pricing Intelligence Housekeeping What do HotelTechReport reviewers like about RMS Hospitality Cloud? “Since adding RMS, we've dramatically cut down the time we spend on the phone, with no loss of occupancy. We're filling the gaps in our inventory and we love the automatic payment system. RMS is fast, cost-effective and foolproof.” “I love the SMS and correspondence feature. Triggered correspondence is fantastic.” “Very good customer service! It is always quick and efficient.” “Generally an easy to use system, even for novices.” What could be improved? “The setup can be a bit complex.” “Creating Group Bookings is unnecessarily complicated.” New RMS users pay a one-time setup fee, then you can choose between flat (under $500) or per-room ($3-6/room) monthly subscription fees. Get a Price Quote | Read Reviews   eZee Absolute This HMS is another all-in-one software solution, but some standout features of eZee include its mobile app, loyalty program tool, and restaurant POS, making it ideal for small hotels with on-site dining. The platform is cloud-based, which is ideal for teams who might need access on the go, and the subscription fee is assessed on a per-room basis, so small hotels don’t pay for services they don’t need.     What do HotelTechReport reviewers like about eZee Absolute? “From the migration process up until operations and after service stage, it was seamless.” “Cloud based, access from anywhere, anytime.” “The system is beautiful and user friendly.” “Seamless integration with online partners.” What could be improved? “The system is not very straight forward, for someone who is a first user for this system it tends to be difficult and takes quite a while to understand the basics of how the system functions.” eZee offers a 14-day free trial; after the trial period, subscription fees depend on the number of rooms and can be paid monthly or annually. Get a Price Quote | Read Reviews   Misterbooking You can find France-based Misterbooking’s hotel management software in many small hotels throughout Europe and a growing number across the world. This robust system offers all the property management tools a hotel could need, including a booking engine and channel management, plus reporting and automation for billing, guest communication, and daily operations. Misterbooking has an open API so you can connect various third-party apps like contactless check-in and upselling solutions.     Misterbooking’s features include: Multi-lingual Channel Manager Property Management System Booking Engine Website Development Pricing Intelligence Housekeeping Guest Feedback Management What do HotelTechReport reviewers like about Misterbooking? “Each hotel can customize its account and shape it to its needs, which is a real strength for Misterbooking.” “Easy to reach the customer support by phone.” “From the Spa, guest rooms, host tables, reception and wedding rooms, seminar, household organization, gift vouchers; all the activity of the Estate is consigned there!” What could be improved? “At times the interface seems overloaded, it is necessary to improve readability.” “Booking engine (not enough possibilities for uploading photos - not enough possibility to describe equipments of the rooms...)” Misterbooking charges a one-time implementation fee, then subscription fees range between $7 and $10 per room per month. Get a Price Quote | Read Reviews   Frontdesk Anywhere Frontdesk Anywhere literally means you can manage your front desk from anywhere - thanks to the cloud-based nature of the platform. This system includes a property management system, a booking engine, a channel manager, and more, plus the ability to integrate with a variety of ancillary services. Keeping hotel budgets in mind, Frontdesk Anywhere offers three different subscription options so you can choose the one with the features you need.     What do HotelTechReport reviewers like about Frontdesk Anywhere? “Being able to easily manage multiple price periods (high season, low season) for individual rooms is a great feature.” “Very fast response to issues.” “Great to be able to access all properties in one account with toggle functionality.” “Manager report and details of the report including figures shown are very detailed.” What could be improved? “It would be nice to see multiple language support in the admin section as we have several native Spanish speakers working for us.” “Would be great to have more flexibility in creating packages, promotions, as well as full visibility through 3rd party API.” Frontdesk Anywhere’s monthly subscriptions range in price depending on the number of rooms. Starter, Standard, and Pro plans are available with different levels of functionality. Get a Price Quote | Read Reviews   WebRezPro This cloud-based hotel management software delivers a wealth of functionality, from a point of sale to pricing intelligence. WebRezPro has integrations with leading hotel tools like Alice and IDeaS, so you can customize the add-on features that make the most sense for your unique property. While we don’t have any user reviews for WebRezPro yet, our hotelier testimonials and case studies prove that the software is a good option for small hotels.     WebRezPro’s features include: Multi-currency Multi-lingual Channel Manager Property Management System Booking Engine Point of Sale Group Booking Engine Pricing Intelligence Gift Vouchers Housekeeping Guest Feedback Management What do HotelTechReport testimonials say about WebRezPro? “WRP is intuitive and easy to use. It meets all of our needs and has many great features that we regularly take advantage of. The customer service we receive is absolutely stellar!” “This is, hands down, the easiest PMS system we've ever used. During implementation, our staff became comfortable with it almost immediately. It also significantly reduced training time for new hires because it is so intuitive.” WebRezPro charges a one-time implementation fee, then the monthly rate starts at $60 and increases with the number of rooms. Get a Price Quote | Read Reviews   Did we miss your favorite hotel management software? Let us know!  

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8 Disruptive Hotel Technology Trends to Watch in 2021

by
Hotel Tech Report
6 months ago

In 2017, Uber predicted that the company would launch flying car ridesharing by the end of 2020. That hasn’t quite panned out, obviously – joining the list of Jetsons-like technology of the future that never lived up to the hype. For those of us keeping an eye on technology in hotels, it can be difficult to discern what trends are here to stay and what trends are simply a marketing stunt. We can’t predict what will happen in the future, but we can watch industry trends as leading indicators. That’s just what we’ve done to compile this list of trends that we believe are worth watching in 2021. From white labeling to the decline of OTA dominance, here’s where we predict hotel technology will go this year. 1. SaaS is exploding 2. APIs are mainstream 3. Guest room technology innovation 4. Privacy & cybersecurity 5. OTAs struggling 6. WiFi 6 7. Big data 8. Digital hotel companies   SaaS is Exploding Interest in investing in hotel technology has slowly ramped up in recent years. Venture capitalists are finally starting to recognize the opportunity to invest in tools and platforms that allow hotels to capture new levels of hotel operations efficiency and revenue growth. “Despite all the innovation that has taken place in the sector over the last decade, there remains massive, untapped opportunity and potential in many categories within the hospitality arena. Despite being one of the largest and most dynamic segments of the US and global economy, penetration of cloud-based technologies in the segment remains incredibly low, and the vendor landscape remains tremendously fragmented on a global basis,” says Matt Melymuka, co-founder and partner at PeakSpan Capital. Those untapped opportunities that Melymuka references? Venture capitalists are starting to catch on. This month, Cloudbeds announced a Series C minority investment round of $82 million, led by Viking Global Investors with participation from PeakSpan Capital, Recruit Co., Ltd., Counterpart Ventures, and Cultivation Capital. Cloudbeds offers an all-in-one suite of tools, including a property management system, channel manager, booking engine, and revenue manager, growing revenue and automating workflows at more than 20,000 properties. Their Series C fundraising success indicates a growing appetite among investors for cloud-based, low-cost solutions that seamlessly communicate across platforms to target, acquire, and retain guests. Mews Systems, another top-ranked, cloud-based property management system, raised $33 million in its Series B funding round led by Battery Ventures. “As hotel and other hospitality property owners look to address the challenge of competition from peer-to-peer platforms like Airbnb, Mews provides hoteliers with the tools to not have to worry about the day-to-day of running the business, and instead focus on improving guest experience and helping travelers have the trip of a lifetime,” said Sanjiv Kalevar, Principal at Battery Ventures. Oaky, one of the industry’s leading upselling tools, raised a Series A funding round of $9.5 million led by PeakScan Capital. Oaky’s appeal to investors stems from the app’s data-driven approach to driving incremental revenue. Their deep understanding of customer behavior makes Oaky one of the top-rated upselling tools on the market today. VCs aren’t the only stakeholders interested in investing in hotel tech. Zingle, a guest-messaging software, was acquired by Medallia, an experience management company, for a $42 million cash deal in 2019. Hotels use Zingle’s messaging tools to deliver five-star service at scale; Medallia’s investment in Zingle gives hotels the opportunity to provide frictionless guest service and streamline time-consuming interactions, such as check-in. Life House, a tech-first hotel experience, shows proof-of-concept: that hotels that invest in technology drive higher revenue, better guest reviews, and a higher star-rating. Life House’s market traction epitomizes the appetite for investing in hotel tech. The hospitality startup closed a $30 million Series B from a large group of investors led by Thayer Ventures. “Life House is an unusual company in that it started out as a software provider aimed at fixing ‘the broken and complex hotel operational model’ before morphing into a combination of tech provider, hotel manager and boutique hotel brand,” reports Crunchbase. Last but not least in the litany of hotel tech brands seeing interest from investors, SiteMinder raised $70 million led by BlackRock, valuing the company at $750 million – and making it the industry’s first unicorn. SiteMinder, like Cloudbeds, offers an end-to-end tech solution: a channel manager, online booking engine, website builder, and more. Its early success at over 35,000 properties shows that this market is only growing.    APIs are Mainstream White labeling is a practice in which a product – in this case, hotel software – is manufactured by a third party and uses branding by the purchaser, or marketer, so that the end product appears to have been produced by the purchaser. “The advantage is that a single company does not need to do it all: one firm can concentrate on producing the product; another on marketing it; and another can focus on selling it, each according to its expertise and preference,” writes Investopedia. White labeling has already begun in the hotel industry without hoteliers even knowing it. Property management systems that offer channel management integrations are usually white labelling their channel managers from other vendors. We believe this trend will continue, especially in the revenue management space where white labeling can solve two distinct problems: strategy and tactical management. Most revenue management systems focus on reporting and data visualization; the addition of white label software to the backend of an RMS can improve price optimization, letting hoteliers spend their time on higher value tasks and strategic revenue management. Along with white labeling, APIs are adding efficiency to hotel technology by integrating your tech stack and helping your tools talk to one another. An API, application programming interface, is simply a messenger of data between applications. APIs allow your various hotel technology tools and programs to work together, connecting your RMS to a PMS, or your PMS to your upsell software, or your business intelligence software to your PMS. An API makes your technology user-friendly and efficient; when your tools work together, you capture each platform’s full capabilities. API penetration in the hotel tech market has opened up a world of opportunities for property owners. For instance, feeding data from your PMS into a business intelligence tool leads to real, operational data to analyze trends and provide recommendations for better marketing campaigns, smarter staffing decisions, seasonal trends, and market competition. Hotels that are comfortable using APIs can automate tasks that take up much of their employee’s time with manual data entry.   Guest Room Technology Innovation Guests around the world have unprecedented convenience at home. The number of voice-controlled and streaming services that have proliferated the home in recent years is unprecedented: Netflix, Hulu, and Amazon Prime for streaming; Alexa, Google Home, and Amazon Echo for voice; Creston, Nest, and other smart-home devices; Uber Eats, Door Dash, and Caviar for food delivery at the touch of a button. On-demand convenience dominates our lives, and guests expect this level of ease from their hotel experience as well. Hotels are catching on, adding convenience through streaming, voice activation, guest-room tablets, and food ordering tech. “Unlike other amenities that are requested but not necessarily used, streaming services are used on average by 40% of rooms—and they’re used longer than their cable counterparts,” Gavin Philipp, VP of operations at Charlestowne Hotels told Hotel News Now. The Amazon Fire Stick, Roku streaming stick, and Apple TV are all low-cost, easy-to-implement tools that some guests are even bringing with them. Hilton is taking a different approach, partnering with Netflix to allow guests to control their streaming straight from the Hilton Honors mobile app. As far as voice-activation, Volara is leading the way in providing a thoughtful, Alexa-esque guest-room solution. Volara integrates with the most popular work order management systems so that guests can make requests and get confirmation when the item or service they need will be delivered. It also integrates with in-room entertainment, eliminating the pain point of touching a germy remote control. Volara’s success is more than gimmicky – their product allows properties to interact with guests in a fun and scalable way. Guest room tablets provide convenience in a simple, straightforward upgrade that improves guest satisfaction scores virtually instantaneously. Tablets like those from Crave Interactive allow guests to customize their experience at will, booking spa appointments, taking advantage of F&B offers, and exploring local tours. And for savvy marketing managers, tablets provide a new channel through which to send targeted, automated messages generating $5,000 per month in additional revenue. Lastly, hotels are replicating the Uber Eats experience with tools like 2nd Kitchen and Bbot. 2nd Kitchen is a godsend for hotels without a kitchen on-site: guests can order room service from restaurants near your hotel, taking care of care of orders, menus, payment, fulfillment, and customer support for your property. Bbot’s mobile ordering technology gives guests a way to order and pay for food and drinks from their phones, cutting down on labor and menu management at your property. For guests, no need to call down, sign a receipt or spend time waiting in line for service.   Privacy & Cybersecurity Hotels are a prime target for hackers. “Only about 25% of all U.S. businesses, including hotel operators, are fully compliant with current data security best practices. That means that three out of four are not and are potential disasters waiting to happen,” reported one cybersecurity expert. Numerous high-profile malware attacks on the hotel industry have led to hundreds of millions of guests’ data being compromised and millions of dollars in damage. Just this February, MGM Resorts revealed they were the target of a massive data breach that compromised personal information for more than 10.6 million guests. Files leaked in the MGM attack included information on celebrities, chief executives of technology companies, reporters and government officials, according to Skift. With this trend on the rise, hotels are being forced to get smart about security. Property owners must do their research in selecting tech tools that provide multilayer security, data protection, secure transactions, and compliance with international payment and data privacy standards. Hotels must regularly host training to their staff on the proper way to handle personal information, comply with privacy regulations such as the GDPR, and change their access credentials regularly. The many tech innovations we see penetrating the market require constant vigilance of cybersecurity best practices, regular updates to security software, and dedication to routine testing and threat assessment.   OTAs are Struggling Expedia and Booking have taken some pretty big hits in recent months. Expedia’s shares ended 2019 down 4%, a slight decline but significant in comparison to the S&P 500, which returned 29%. Booking.com’s stock finished down 11% in January 2020 (in part due to COVID-19). Why the dive in stock price? There are two factors outside Coronavirus that are impacting OTAs. First, hotels are getting better at capturing direct bookings. Hotel tech like direct booking platforms, metasearch ad managers, and messaging integrations help properties draw more visitors to their site and convert more direct bookings, circumventing the high OTA commissions in the process. Direct booking tools that connect a property’s PMS, parity, behavioral and demographic data across the entire booking journey has put hotels on even footing with OTAs when it comes to winning bookings. Secondly, Google has entered the travel market in a big way. Google has expanded from traditional AdWords to include hotels everywhere via its Hotel Ads product. Google has historically been the source for much of OTAs inbound demand, and now that the platform is a direct competitor, OTAs are vulnerable unless they pay billions of dollars each year to Google to ensure they show up high in search results and get clicks from travel planners. Free traffic is “shrinking all the time”, Expedia CEO Mark Okerstrom explained to analysts.   WiFi 6 5G may be getting all the buzz, but for property owners, WiFi 6 is much more relevant. WiFi 6 is the term used to describe the next iteration of Wifi, a faster, more efficient connection enabled through new technologies. WiFi 6 is about 30% faster than our current WiFi. This might not sound that impressive at first glance, but considering how many devices we’re adding to our WiFi networks, the increase in speed is dramatic. Like 5G, WiFi 6 will have obvious implications for guests who use their smartphones to book and manage their stay. But beyond the guest experience, hotels can take advantage of faster WiFi to power all those streaming, tablet, and voice-activated devices. With WiFi 6, your property can leverage in-room technology to provide better service, driving positive guest reviews and repeat business. Smart thermostats, smart speakers, and smart locks will all perform better with the adoption of WiFi 6 over the next five years.   Big Data Investors in Oaky already recognize this next insight: data has become the world’s most valuable resource. The sooner you start to mine guest data for better customer insights, the better positioned your property will be against your competition. Why is data so valuable? “Data are now part of every sector and function of the global economy and, like other essential factors of production such as hard assets and human capital, much of modern economic activity simply could not take place without them,” argues McKinsey. Data can fuel smarter marketing campaigns, inform your pricing, and help you capture a higher market share than your competitors by knowing your guests on a deeper level. Hoteliers are just starting to realize the potential of its guest data. Earlier this year, Revinate launched the hotel industry's first Guest Data Platform to aggregate, clean and deliver rich guest profiles for hotels and property groups of all sizes. The platform combines data from multiple sources to provide a complete picture of a hotel’s guests, delivering the information needed to increase guest satisfaction scores, direct bookings, and ultimately, profit. An acquisition by CoStar Group put a dollar figure on just how much hotel industry data is worth. The Group purchased STR for $450 million in cash in the fall of 2019. STR aggregates data from more than 65,000 properties worldwide, distributing more than 1 million reports each month. That amount of data synthesized into nice reports? Priceless.   Digital Hotel Companies All these trends – the flow of VC cash into hotel tech, the rise of consumer-convenience tech, the use of white-label software and APIs – means the landscape of the hotel industry is changing. New competitors are challenging old management companies that haven’t innovated enough.  These next-gen properties are sometimes called hometels (home+hotel), or more generally, alternative lodging.  Brands in the alternative lodging sector include Stay Alfred, Sonder, The Guild Hotels and to some extent groups such as Selina and OYO.  VCs seem to love these alternative lodging options. Sonder, for instance, hit $100M in revenue thanks to its venture capital-fueled growth; the brand raised a $225M Series D and projected $313M in forward 12-months revenue (2019/2020). The biggest distraction or barrier these next-gen hotels face is that they’re taking the wrong approach to tech. The companies that win will be the ones who stop acting like tech companies – using buzzwords like AI and virtual concierge – and focus on being more innovative and agile real estate businesses than traditional market players today. Those that succeed will be tech-enabled businesses; not tech businesses. They will be better at buying and using tech components via APIs and lean infrastructure, but be founded on sound business principles enabled by the industry’s best tech tools.