As a hotelier, you may have heard of Sabre Corporation– the major NASDAQ listed travel technology company based in Southlake, Texas offering GDS and property software (Synxis). You’ve also probably heard that Sabre Corp’s investors have been a bit disappointed of late with the stock down nearly 70% in the last 5-years and are looking to unlock value by unloading the hospitality solutions business (i.e. Synxis) to drive efficiencies in the core business. But how much do you really know about the organization and the technology solutions its contributed to the travel industry over the years? For instance, did you know that Sabre is actually an acronym, meaning Semi-Automated Business Research Environment? While it’s interesting to learn about one of the industry’s top technology pioneers, Sabre’s story can also provide inspiration if you seek to make your hospitality business more tech-centered and innovative. We’ll trace Sabre’s path from ideation to market leader and explore how the company stayed ahead throughout big changes in the travel world.
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Do you think a hotel room phone is a dead ringer for a regular home phone you’d find in your living room? Think again! Although the two types of phones might look alike, the features and uses are actually quite different. If you’re scoping out phone options for a new hotel, looking to upgrade your existing phones, or considering hotel phone alternatives, then this article is for you. We’ll explain how hotel phones are different from standard home phones, dive into their most important features, and introduce you to some of the top choices on the market today. And if you’re thinking out of the box, we’ll also share some alternatives to hotel phones that you may want to consider.
A front desk agent is one of the most important jobs at any hotel, but what’s it really like to work as one? As a front desk agent, you’re the first person to welcome a guest to your hotel and the last one to bid farewell when they leave, so you’re responsible for the crucial first and last impressions as well as delighting guests throughout their time on property. If you’re curious about working as a front desk agent, then you’ve come to the right place. In this article, we’ll dive into the tasks and responsibilities of a front desk agent, how to apply for a front desk role, and what career paths you can take after working as a front desk agent.
How long does your budgeting process take? And how often do you update forecasts within the month? For most revenue managers, forecasting and budgeting is a painful, manual process which is stuck in the last millennium. In an effort to unlock the power of data-driven forecasting without the manual overhead, HotelIQ has launched an AI-driven forecasting management system that incorporates historical PMS data into its predictions. Tons of variables could lead to a hotel needing to update forecasts like unexpected seasonality, competitor pricing updates, renovations that affect room rates and more. Hotel management is extremely complex and requires constant demand forecasting and a careful eye on key metrics to ensure optimization of key performance data and healthy operating margins. In this article, we’ll walk through the challenges with the standard hotel industry forecasting process and then show the improvements and efficiencies that HotelIQ can bring to your hotel. With a more streamlined and accessible forecasting process in place, you can achieve higher RevPAR and hit your revenue targets.
Do you spend hours doing payroll every week? Is reviewing employee time sheets a big time-sink for you? Managing your staff’s time, attendance, and payroll doesn’t need to be a headache; in fact, with a modern time and attendance software, you can make these administrative tasks a breeze. With less time required for admin work, you can focus on more strategic and impactful projects - or simply get out of the office and mingle with guests more often. But the benefits of a great time and attendance system aren’t limited to time savings; your employees will be more satisfied and can rely on accurate, on-time paychecks at the end of every pay cycle. In this article, we’ll explain what a time and attendance system is, what benefits such a system offers, and which 5 systems are the best picks for hotels in 2022 so you can make an informed business decision when it’s time to choose a system for your hotel.
Automation has played a critical role in business for years. However, it wasn’t until the past few years that varying industries began to consider its immense capabilities. Exploring the use of automation today, we’re unpacking this evolution in recent years, how it’s changing the hotel landscape and considerations for getting started with automation. The State of Automation Today Over the years the adoption of automation has grown significantly. Allowing businesses to focus on strategy and direction rather than tedious tasks that take up valuable time and resources. In more recent years, in part due to the pandemic, automation has accelerated rapidly. Back in 2018, it was reported that “57% of businesses were piloting the automation of business processes in one or more business functions.“ In that same study conducted in 2020, the year of the pandemic, it was reported “66% of businesses were doing the same - a significant jump of 9%” And while a number of industries are hopping on the automation bandwagon, hotels are beginning to recognize it’s tremendous benefits, with 77.6 percent of hotels expecting to increase their tech investment in the next three years. Today, automation is driving better and more agile hotels - allowing them get more focused, do more with less time and resources and provide greater, more personalized, experiences. While the state of automation continues to evolve it’s important to recognize the impact on specific industries. Here we touch on 4 ways automation is changing the hotel industry today. Seamless Check-in Experience It goes without saying that the traditional in-person check-in experience has its fallbacks. Usually involving long wait times at reception, reduced employee productivity and prone to manual error, there’s a lot of frustration that can build up at the front desk. Advancements in automation today have revolutionized the check-in experience. Guests can check-in on their own terms, whether on-the-go or from the comforts of their homes. Upon arrival, guests simply provide their name and are given their room key within minutes. For the individual who has travelled hours and sometimes days to get to their destination, having an automated email with a seamless check-in experience makes all the difference in satisfaction. Keep in mind that from an operational standpoint, this also alleviates repetitive and mundane processes for your staff. Especially if you’re dealing with rampant labour shortages, your team can focus on more pressing issues. Request Management Historically, reception and housekeeping have leveraged pen and paper to manage requests and fulfillment. And while it may have worked in the past, today’s demand and timely expectations call for new processes. For request management, automation has proven to greatly reduce time to fulfill requests, improve communication with guests, and provide greater transparency across multiple departments. In most instance, you can increase revenues by being able to manage more requests in less time and upsell without having to lift a finger. As an example, most request management tools will allow you to set your own parameters for automated processes. Simply define requests possible for in-stay guests once a room has been assigned. Once a request is made it’s tagged and routed to the right team member in real-time. Urgency is assigned based on parameters your team sets, so any pressing requests or comments are directed to senior management. With automated tickets and request management, accountability and transparency are provided and it’s no longer a guessing game of who’s dealing with what. Contactless Follow-Ups When a customer leaves a hotel the experience doesn’t stop there. The goal is always to continue the relationship and encourage repeat visits. With that, communication plays a vital role. Using a digital tool with automated capabilities, you can connect with guests, pre-stay, in-stay and post-stay. Send timed and targeted follow-up messages on the customers preferred channel without lifting a finger. If you’re following up take it a step further by adding a link to an experience survey. This way you can measure their satisfaction to improve the experience in the future. Personalization & Upselling As we’ve seen over the past several years, change can happen in an instant. Which means, finding ways to constantly stay in the know with your guests is key. With the adoption of digital tools that have automated capabilities, you can collect data that isn’t available through pen and paper operations. This means, your team can consistently improve offerings to meet changing preferences and even customize specific automated interactions. Take an on demand ordering functionality for example. After a guest selects a meal, you can use data gathered to automate the offering of a glass of wine or bottle of water with their meal. Further, you can personalize the message. If you’re using a messaging solution, set the introduction to your emails with a first name, or if you’re segmenting your audiences, reference their experience. Leveraging Automation Like any new tool, assessing the need for automation in your hotel is crucial. Today there are so many ways you can automate processes, that jumping into the first opportunity without considering your whole strategy can be damaging. Take a look at your hotel journey and locate where most of the friction is occurring with your guests and what’s taking up most of your employees time. From there you can make a list of all the tools to help you navigate a more seamless journey.
With guest expectations continually changing and new technologies popping up daily, how can you possibly stay on top of it all? You might feel paralysed by choice or unsure of where to begin; there are simply so many potential vendors to consider or new ideas to test. And let’s not forget about budget and resource constraints, since you probably don’t have a blank check to put toward endless bells and whistles for your guests. But even with limited staff and realistic budgets, hotels of any size can dazzle their guests with a five-star guest experience if you know which technology investments will pay off. Whether you own or operate a boutique hotel, an inn, guesthouses, or something else, this article will help you craft a smooth guest experience – leading to better review scores, more repeat guests, and higher RevPAR – by leveraging technology effectively.
What do the world’s largest B2B software companies, like Oracle, Alphabet, and Salesforce, have in common? Besides one-word names, these companies share one crucial factor that makes them successful, scaleable, and future-proof: they’re all built in the cloud. If the top technology companies use cloud-based technology, why do many hotels still use legacy on-premise software from the 90s? Much of the conversation in the hotel world revolves around cloud-based property management systems, but all of your tech solutions, including your revenue management system, should be cloud-based today. In this article, we’ll outline the main advantages cloud-based software provides, highlight some renowned hotel groups who have switched to the cloud, and discuss how revenue management systems like Duetto are leveraging the cloud to add maximum value to hotels.
Hotels and hotel chains that have been awaiting a post-pandemic travel boom are now facing an economic downturn that’s likely to constrain both business and consumer travel. As these businesses look for levers they can pull to increase revenue, reduce costs, and offer an outstanding customer experience, “payments processing” probably isn’t an obvious option. That’s probably because historically, payments providers have provided a commodity service that’s at worst viewed as an unavoidable cost center and at best treated as an afterthought. But this legacy model is now being replaced with a new way of thinking about payments, which is why we’ve partnered with Stripe to discuss how payments can catalyze growth for the hospitality industry. Modern providers need to do more than just process payments, because modern businesses have increasingly complex needs and consumer preferences are constantly changing. That’s why Stripe offers software to create optimized payments experiences, streamline revenue management, and facilitate a range of different business models from subscriptions to multi-sided marketplaces. These are the kinds of capabilities that hotels need to be thinking about as they’re exploring new ways to grow amidst our current economic climate. It takes a provider truly focused on technology to deliver what’s needed, and modern providers like Stripe are much more focused on building new payments technologies than traditional providers. For example, about 37% of Stripe employees are engineers, compared to only 11-12% of the teams at two major incumbents (according to LinkedIn employment data). By working with a tech company like Stripe, your business is able to build on flexible modern infrastructure–and ultimately execute faster. In this article we’ll explore the paradigm shift in hospitality from the legacy view of payments as a cost center to the modern view of payments as a revenue driver. We’ll cover the different ways that hotel businesses of all sizes can use payments innovation to their advantage using a modern provider like Stripe.
Any business owner who understands the basic concepts of revenue management knows the importance of pricing their product appropriately. This means evaluating the market’s demand for the product and the business owner’s supply of the product. If the inventory vanishes quickly, this is an indicator that the product was priced too low. If the seller had charged more, then they would see greater revenue. Conversely, if the inventory is untouched by consumers, then it may be priced too high. The laws of supply and demand apply to hotel availability just like any other product. Here are three important aspects of revenue management that every hotelier should understand. They are 1. Variable Pricing, 2. Dynamic Pricing, and 3. Yield Management. By carefully applying these pricing principles, hoteliers are better equipped to form an effective pricing strategy for their property and maximize profitability.