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These Are the 10 Best Places to Work in Hotel Tech (2020 Edition)

by
Hotel Tech Report
6 days ago

Each year Hotel Tech Report surveys thousands of industry insiders to find the best hospitality tech jobs and employers globally. We all want fulfilling careers with intellectual growth opportunities and earning potential to provide for our families. We want to work for companies whose cultures align with our values and to be surrounded by peers who celebrate our successes. But it’s hard to tell which companies are the real deal since most seem great during the interview and courtship process. Every year we do the hard work for you and survey thousands of 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 Hotel Tech Report creates this list each year for two reasons: (1) to help industry professionals find the best hospitality 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. 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 service to clients. This year we identified 6 major trends that made these companies stand out from the pack in an extremely competitive race: Strong cross-departmental collaboration Fast paced: employees take pride because they see their work come to life Memorable team off-sites that build resilience through trust and friendship Heavy investments made into employee onboarding Visible and accessible executive teams who truly care Focus and clarity: teams that know what is expected of them are consistently able to achieve lofty goals Without further adieu here are 2020’s 10 Best Places to Work in Hotel Tech...   #10 Bookboost The youngest startup to make the list is Bookboost, a rising star hailing from Sweden making big waves in the guest messaging space.  Given that it’s a small and growing team, Bookboost employees frequently cite feeling like one big happy family. One employee told Hotel Tech Report that the highlight of their year was when the Company’s CTO Willem suggested that everyone go for an impromptu team swim: “I remember a hot summer day when Willem, the CTO of Bookboost, proposed that we go swimming together since our office is located right next to the port. As I stood on the shore watching everyone in the water, the sun was shining and they were all laughing. I used to work for big companies and the government, so I had never experienced something like this before. I felt the energy, passion, and love of this company.” In 2019 Bookboost closed a fresh funding round and expanded into the German market so don’t expect them to stay small for long.     #9 Revinate Making the top 10 for it’s second year in a row, Revinate is the cure to corporate boredom without the risk of a true startup.  San Francisco based Revinate is one of the most mature companies on our list and recently celebrated its 10th anniversary. We’ve all seen the stats about startup failure rates - so how has Revinate been able to thrive for so long in rapidly changing markets? The short answer is that they’ve got a killer culture. “The culture at Revinate is the best I've been a part of in my 25 years of being a professional.” Revinate has a CEO that’s equally aggressive and empathetic.  The only things the CEO Marc Heyneker seems to love more than beating his competition are his team and his customers and his 98% approval rating on Glassdoor is just another data point to back it up.  This is a rare balance to find in a CEO and Revinate employees around the world have taken note. The company credo is as clear as Heyneker’s leadership: Customer Love. “We have worked super hard to make all customers happy. We have a company motto of customer love. As a product, design, and engineering org we spend time talking directly to our customers and collaborate with them as we build out our new features.” “As an SDR, I am an entry level sales person. I had some sales experience coming into this role, but this company has really shown me that they are willing to invest in their people, to grow them to their full potential. My most memorable event is my second week here and my CEO, Marc Heyneker, had a drink with me and spoke to me as a friend and colleague. He gave me words of advice, confidence, and shared lessons from his experience. I've never had a CEO that cared about all of his employees like this before. Even though I am entry level in sales, he expressed high hopes for my career and could see my eagerness to grow and achieve big things with Revinate. I will never forget this experience.” When you join the Revinate team you can expect to learn a lot about yourself through a personality test called “Insights Discovery” during onboarding.  This test will help you better understand your conscious and subconscious to better set yourself up for success at the Company and in your own career. Results of the test help your peers and manager guide you towards leadership - something mostly reserved for senior executives; however, a benefit that’s available to all Revinate employees.  Once on board, Revinate employees frequently cite speaking opportunities where they are able to build their personal brand and reputation while promoting Revinate around the world. This year team members enjoyed speaking opportunities at No Vacancy Australia, Direct Booking Summit in Miami, California Hotel & Lodging Association and much more.     #8 Asksuite Bust out the Caipirinhas because Asksuite is the first Brazillian company to ever make this list. In fact, Florianopolis based Asksuite is the first organization in all of Latin America to make the list. Developer talent has gotten increasingly expensive in Eastern Europe and timezone/language barriers have made lots of U.S. tech companies look south for development resources.  Despite tons of engineering talent, Latin American tech is still in its early days and companies like Asksuite are making waves by leveraging strong in house tech talent. This isn’t the Company’s first time winning a culture award as it was recently voted the 7th best place to work in Santa Catarina.  Asksuite recently pushed passed the 1,400 client mark (more than 2x growth) which is a huge step towards the Company making its name on the global stage. Employees at Asksuite are totally pumped on the Company’s growth in recent years and enjoy how the firm is constantly helping them grow on a personal level, too. “This company has a greatest culture, I am deepest in love with them just how they embrace ourselves as a human being not just numbers.” “Our first team building was really special because we gathered in a beautiful environment where we could connect to nature and to each other. Not only in a professional way, but also as human beings.” “When I entered Asksuite, I was hired as SDR (Sales). But that was not my field. And they knew that. I just wanted to be part of the company and I thought that I could help them since I am an ex-hotelier myself. However, Content Production was always my target and I was very open about it. They didn't have a position like that back then so we decided to give a shot in Sales.  Eight months later, a job position opened in Marketing and they moved me. I could not be happier!”     #7 Hotel Effectiveness Rounding out the top 10 for their second consecutive year, Hotel Effectiveness had an incredible year reaching over 4,000 hotels, launching a new mobile application and moving into a new office space.  Employees cite being constantly recognized for achieving milestones in and out of work which makes them feel valued. “I have been here less than 18 months and have witnessed our more than doubling in revenues and employees. The ongoing challenges to find workable solutions that allow for scaling are great opportunities. In my own area, I have more than doubled the size of my team, transitioned invoicing over to a new system, and continually work to meet new challenges as we continue to grow. The victories are satisfying as well as we have dramatically improved processes to provide for better forecasting and cash collection.” Hotel Effectiveness also values giving back to their community and recently attended a suicide prevention event to raise funds and awareness for a critical cause as a team.     #6 ALICE There’s nothing worse than feeling like your company is stagnant and that your work is being tossed in a drawer somewhere.  Ultimately, that’s why most ambitious young people are opting out of corporate life. At ALICE you certainly won’t feel like you’re stagnating and you’ll watch your work come to life extremely quickly.  ALICE has consistently reinvented itself over recent years through the acquisition (and integration) of GoConcierge and then through the launch of the housekeeping product its team build from scratch and has landed itself the highly coveted 3peat on the top 10 best places to work list. “Last year we developed a complete new product from scratch. I'm very proud of how much research we put into the design to create an amazing product and this effort was paid off when launching it with beta customers and seeing their satisfaction.” ~UX Designer “I created a performance / load testing tool using a more recent technology. Though it's still being discussed what would be our standard for that, at least I am able to introduce something more recent and what I think is something that can be potentially a good standard for us moving forward.” ~Engineering Integrating acquisitions and building new products is tough work but ALICE always finds time for balance.  This year’s team retreat consisted of corporate summer camp. “We had a CAMP! I personally had never been to a camp, with cabanas, lake, bonfires and stuff. We had one this past summer and it was fantastic! As we are from Customer Success most of us are either remote or always traveling, so there were people that I had never met, it was so great to have everyone together on such a beautiful place, we had very productive meetings in the morning and free time during the afternoons to go kayak at the lake, take walks, this definitely helped tremendously to bond more and more the team.” Employees at ALICE are encouraged to push themselves and learn new skills. “I was able to learn mySQL, which has opened new doors and I feel like I've found a new passion. ALICE was able to pay for my course and I am proud to contribute to the company with new skills that I did not have before joining.” ~Customer Success "When I was struggling and reached out to my manager, he was able to provide help and gave me advice on how to prioritize my projects. Also, he spent extra time coaching me through difficult situations." ~Engineering One of the hardest things is when you feel like you’re struggling at work or not loving what you do.  If either of these happen in a corporate environment you might find yourself canned or cast aside - but not at ALICE.   When employees are struggling or in a rut, ALICE team members are encouraged to have an open conversation and be completely transparent so that the Company can identify a better fit for them and figure out how to help them succeed: “Nearly 1.5 years ago, I found myself doing Product Management at ALICE. It was a career that I was unsure aligned with my strengths and passions. Since, ALICE gave me the opportunity to explore marketing at the company. I have been responsible for managing the day-to-day of the creative team, providing feedback to our designers, and contributing to the creation of core content. I feel much more impactful in this role and is aligned with my passions. In July, I was promoted to Marketing Manager. It has been a blast. I could have never made such a quick, smooth transition if it were not for ALICE's desires to care deeply about each employee and his/her growth.” “ALICE gave me a promotion, and helped me into a new career path - sales. I'm excited to be in the community talking about ALICE.” “Although I am still fairly new at the organization, I think the “All Hands” meetings every Tuesday are pretty incredible. I have worked at many hotels and none of them have taken time on a weekly basis to talk as a company going over updates, news in the industry, introducing new team members, etc. All of these meetings are recorded, so if you have a conflicting event you can still be kept in the loop. The team is so incredibly welcome and genuinely cares about creating a positive remote culture.”     #5 Cloudbeds This is Cloudbeds’ 3rd year in a row making our list and if you read CEO Adam Harris’ culture manifesto it’s easy to see why.  We should note that Cloudbeds is the highest ranked U.S. based company on our list. Cloudbeds has a corporate culture that features a lot of the strengths found amongst other companies on this list but two things really make Cloudbeds stand apart from the pack. Firstly, Cloudbeds is a mostly distributed and remote organization.  While it’s headquarters are in sunny San Diego, California - the Cloudbeds team is entirely global.  Cloudbeds employees consistently cite that Cloudbeds has the best travel benefits of any company they’ve ever worked for.  Harris and Co-Founder Richard Castle understand that in order for their team to understand hotel clients and guests they need to walk a mile in their shoes.  Several employees told Hotel Tech Report that they’re highlight of 2019 was meeting up in Bali for a team leader’s 40th birthday where they spent days coworking and getting to know each other on a personal level.  Other team members report team outings in Spain, Nashville and across the world. Cloudbeds even rents long term apartments in core cities so that team members can come and go as they please: “The company strongly supports our travels, we are travelling cloudies. The company rented apartments for us for a year in 2 biggest offices. Everyone who wanted could use it and visit our offices any time!” One concern that many employees have with a remote organization is that it’s difficult to build alliances and move up the ranks or switch into new roles but at Cloudbeds that isn’t an issue.  Don’t believe us? Check out what employees had to say:  “Being promoted 2 times within the year was a great accomplishment. I have been with the company for over 4 years and started as a customer support coach and also an implementation coach. Having the opportunity to use my talents in other areas of the company has been a great motivator and I continue to grow every day learning new things within our company.” ~Product Team “When I was promoted I got all the confidence of Cloudbeds management to assume my new role. It was significant for me to feel that my company cares about my success and that my achievements were aligned with company goals.” “I was promoted within 9 months of work from a low position to a department I wanted to work in.  Success is both noticed and rewarded at Cloudbeds”     #4 hotelkit Nestled in Salzberg on the German border, hotelkit is the only company on our list from Austria but they are a rising contingent of DACH based hotel tech startups (including SuitePad) that are rising to global domination.  Salzberg is where Mozart was born and hotelkit founder Marius Donhauser runs his team like a finely tuned symphony. Employees cite tons of team building events including Oktoberfest and a two day team trip to the mountains that included hiking, canyoning and even spending the night in a hut! “We went on a two day hiking tour as teamevent and i am astonished every time how well we all work together as a team and how we trust each other. We constantly support our hotelkit team members, help each other out and spend a lot of time together after work. My colleagues have basically become my family away from home.” Hotelkit employees have weekly catered lunch, yoga classes, healthy office snacks and more.  These are all nice amenities but what really matters is that hotelkit cares about its people.  With all of these activities and benefits you’re probably wondering when hotelkit has time to get things done.  We were wondering the same thing. While we can’t say exactly, hotelkit recently crossed its 1,000th hotel client and they are now one of the most popular companies on Hotel Tech Report after some huge victories in the HotelTechAwards this year. If you’re looking for a fast paced job in a beautiful location with a CEO who lives and breathes both his brand and his staff - look no further and go check out what openings they have available.  Oh and did we mention, hotelkit also won first place in four categories of this year’s HotelTechAwards...     #3 Mews Systems This ain’t Mews’ first rodeo and it definitely isn’t their first time making this list.  This is Mews’ second year in a row making the top 3 in our list. If you’ve been diagnosed with a chronic case of corporate boredom, applying for a job at Mews Systems is definitely the cure. Mews has scaled from 100 team members to more than 400 in the last 12 months, which, needless to say, is an insane growth rate.  When companies scale this quickly they risk culture dilution but at Mews the opposite seems to be happening. The more Mews hires - the more fun they seem to have.  If you don’t believe us go and check out one of their award winning conference booths at events like WTM and ITB where you’ll find Mews team members rocking F1 racing suits, cheeky lab coats or even a hilarious take on miracle grow gardening. Mews makes it look easy but don’t be fooled - they are a work hard play hard company that is even more focused on driving results for clients.  According to one Mews Operations Associate, “Everybody is constantly on 120% level, which is great. Coming from the slow paced corporate world - the team here is giving me a lesson in productivity everyday.” So what’s the secret to the Mews success? They’re polarizing, mission driven and make everyone who joins feel like they’re part of a family.  Some tentpole culture initiatives include the annual company get together in February where the entire team heads to Prague for a week of team building and a company wide cross-functional Hackathon.  Mews likely has the most well oiled onboarding process of any company on this list. New hires attend a monthly onboarding week that includes meeting the CEO in a small breakout and the opportunity to host a company funded theme party for your new colleagues. Last but not least, Mews recently raised a monster $33M round led by Battery Ventures, won the top prize in the 2020 HotelTechAwards for the #1 PMS and made its official US debut this spring so it seems their miracle grow theme may have a few potential interpretations..     #2 Pace London based Pace is another newcomer to our list and the team achieved some huge milestones in 2019.  For starters they grew the Pace family by 100% from 15 to 30 employees. Pace team members frequently cite being  motivated by getting stuff done and even hit their 2019 annual goals by October with two months to spare. “In the past year the Pace team has grown by more than 100%. It was amazing to see the whole company (from recent joiners to old timers) rally around a few key product releases like a well oiled, high performance machine.” Pace team member In his former life, Pace CEO Jens Munch was a journalist and wartime photographer in Iraq which has helped him build a team that’s battle ready to take on the hyper competitive revenue management space.  Pace is a very product driven culture and was designed from the ground up to disrupt the status quo. Pace has developed a completely automated revenue management system and everyone at the firm is focused on helping clients (old and new) feel confident in its recommendations where revenue managers have historically been apprehensive to let machines take over. “The launch of automation at Pace was a great achievement by the whole team that was a true, cumulative effort of everyone working tirelessly in sync. The response from new and existing customers has been amazing, and seeing the product providing even better results instills me with even more confidence for Pace.” ~Pace team member     #1 SuitePad Last but not least, the 2020 Best Place to Work in Hotel Tech goes to…(drum roll please)...SuitePad! This is Berlin based SuitePad’s first year making the list (and their first HotelTechAwards winning #1 Guest Room Tablet provider) but we don’t suspect that it will be their last. SuitePad employees share a genuine passion for building strong lasting relationships both with their hotel clients and with each other. This people focused culture starts all the way at the top according to a SuitePad team member: “I had a personal problem that required hospitalisation, my CEO dropped everything he had for the day and personally took me to the hospital and was there at every step of the recovery.  This is the kind of thing that I have seen time and time again done for employees that have any kind of crisis going on in their personal lives.” Many SuitePad employees cite having never been at a company before where they’ve clicked with so many other team members on a personal and professional level. The co-founders at SuitePad deeply care about the team and who joins it. One employee puts it best, “Work is great here, because the people are great.” It’s not all kumbaya and hugs at SuitePad though, the team is fast paced and extremely results driven.  This year at SuitePad every team pushed their limits: sales and marketing aggressively launched new territories while product developed a new product from scratch on a completely new tech stack (SuiteTV box): “We have worked a lot on our internal processes and our team closed the two biggest deals in the history of the company in the last few months, which is not only great in terms of growth and sales goals, but also because it has shown that our efforts in improving the processes and aligning our strategy with sales and marketing has been successful.” ~Customer Success Employee -- It's 2020 and it's time for a new hospitality job.  Go head to these incredible employers and start dropping those resumes.  

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The Best Hotel Software of 2020 (Ranked by Data)

by
Hotel Tech Report
1 week ago

The HotelTechAwards (produced by Hotel Tech Report) announced the year's top rated hotel software companies and tech products based on thousands of hotelier ratings and other key data-points. During the HotelTechAwards hoteliers from the world's leading hotel companies across 100+ countries 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 "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." Sean Fitzpatrick, CEO at OTA Insight The competition spans core areas of hotel software & technology: marketing, revenue, operations and guest experience. 2020 Voting included participation from major hotel groups including: Four Seasons, Hilton, Marriott, Accor Hotels, Hyatt, Intercontinental, Rosewood and thousands of independents. "Each month Hotel Tech Report helps more than 40,000 hoteliers research and vet technology partners for their properties.  Winning a HotelTechAward is the highest achievement in the industry because it’s based on real data. Winners have truly earned their showcase with our rapidly growing community.  Hoteliers trust this award when making purchase decisions because scoring is transparent and participation is ubiquitous amongst the most reputable vendors in the industry," says Jordan Hollander, CEO of Hotel Tech Report. "We created the HotelTechAwards as a democratized way to help our fellow hoteliers quickly determine best of breed vendors based on data they can trust.  Our 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 more than 100 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 from thousands of verified hotel technology users across more than 120 countries.     Quick Links: 1. 2020 HotelTechAwards Winners 2. Executive Commentary 3. Scoring Methodology & Ranking Factors 4. 10 Best Places to Work in Hotel Tech 5. People's Choice Award Announcement   Top Rated Hotel Software Products of 2020   Guest Experience Software for Hotels Best Guest Room Tablets: SuitePad (2020 Winner), Crave (Finalist), Volo (Finalist) Best Guest Mobile App: ALICE  (2020 Winner), INTELITY (Finalist) Best Guest Messaging: Whistle (2020 Winner), Bookboost (Finalist, Best in Europe) Best Guest Room Entertainment Product: Monscierge Apple TV (2020 Winner) Best Voice Activated Tech Product: Volara (2020 Winner) Best Mobile Key & Keyless Entry Solution: ASSA ABLOY Global Solutions (2020 Winner)   Operations Software for Hotels Best Property Management System: Mews Systems (2020 Winner), Clock (Finalist) Best Staff Collaboration Software: hotelkit (2020 Winner), ALICE (Finalist, Best in North America), HelloShift (Finalist) Best Labor Management Tool: Hotel Effectiveness (2020 Winner) Best Housekeeping Software: hotelkit (2020 Winner), ALICE (Finalist), Quore (Finalist) Best All-in-1 HMS: RoomRaccoon (2020 Winner), Cloudbeds (Finalist) Best Fraud Prevention Tool: Canary Technologies (2020 Winner) Best Facilities Management Software: hotelkit (2020 Winner), ALICE (Finalist), Quore (Finalist) Best Concierge Software: ALICE (2020 Winner) Best Accounting & Finance: MyDigitalOffice (2020 Winner), M3 (Finalist) Best Lobby Tech: Monscierge Connect Signage (2020 Winner) Best F&B Point-of-Sale Solution: ImpulsePoint by Impulsify (2020 Winner)   Revenue Management Tech for Hotels Best Revenue Management System: IDeaS  (2020 Winner), Atomize (Finalist) Best Central Reservations System: Pegasus (2020 Winner) Best Channel Manager: SiteMinder (2020 Winner), Cloudbeds (Finalist), D-EDGE (Finalist) Best Rate Shop & Market Intelligence: OTA Insight (2020 Winner)  Best Business Intelligence Tool: HotelIQ (2020 Winner), Duetto (Finalist) Best Meetings & Events Intelligence: Get Into More (2020 Winner), Duetto (Finalist), IDeaS (Finalist)   Hotel Marketing Technologies Best Email Marketing & CRM Software: Revinate (2020 Winner), Experience Hotel (Finalist), ForSight CRM (Finalist) Best Upsell Software: Oaky (2020 Winner)  Best Booking Engine Bookassist (2020 Winner), Net Affinity (Finalist), Pegasus (Finalist) Best Digital Marketing Agency Bookassist (2020 Winner), Screen Pilot (Finalist), Net Affinity (Finalist) Best Metasearch Management Software: Bookassist (2020 Winner), Koddi (Finalist, Best in North America) Best Website Builder/CMS: Bookassist (2020 Winner) Best Direct Booking Tool: Triptease (2020 Winner), LaaSie.ai (Finalist) Best Reputation Management Software: GuestRevu (2020 Winner), Revinate (Finalist), TrustYou (Finalist) Best Guest Surveys: GuestRevu (2020 Winner), TrustYou (Finalist), Revinate (Finalist) Best Website Live Chat: Asksuite (2020 Winner), HelloShift (Finalist, Best in North America)   Executive Commentary About the HotelTechAwards   Dr. Ravi Mehrotra, President, Founder and Chief Scientist, IDeaS Revenue Solutions: “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.” Alex Shashou, Co-Founder & President, ALICE: “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.” Moritz von Petersdorff-Campen, Co-Founder & Managing Director, SuitePad: “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.”   Scoring Methodology & Ranking Factors  

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The Ultimate Guide to the Hospitality Industry

by
Hotel Tech Report
6 days ago

This is the ultimate guide to the hospitality industry in 2020. And let me be clear about something: This is NOT a “10 Ways to Improve the Guest Experience” post. Yes, we’ll cover the most important ways to sharpen your skills on property. But this is a primer for those looking to excel in a hypercompetitive industry.  This is the ultimate resource for those looking to get an edge. This is also a great resource for industry vets to bookmark and reference back to when looking to brush up on all things hospitality. So if you’re looking to up your hospitality game this year, you’ll love this guide.   What’s Inside this Hospitality Industry Guide? Best Hotel Schools Hotel Industry Jobs Hotel Industry Conferences Top Publications Industry Organizations Largest Employers Books Every Hotelier Must Read Trends Impacting Hospitality Terminology & Industry Jargon Continuing education & certifications   What Makes the Hospitality Industry so Dynamic? With a global footprint and an annual revenue of well over $500 billion, it’s hard not to ignore the hospitality industry. A career in this exciting sector can be enriching and challenging, but you may be wondering where to begin. Whether you’re just getting started in your first hospitality job or considering a mid-career switch, this guide will reveal the ins and outs of the hotel industry. This guide will cover aspects of the industry like popular hotel jobs, hotel industry organizations, and recommended hospitality industry reads. We’ll even decode some hotel industry lingo!   Best Hotel Schools Some hospitality professionals begin their careers in an entry-level hotel job, such as a front desk agent, and climb the ranks by earning promotions from one level to the next. Other hospitality professionals, who knew they wanted to build a career in the hotel industry, might earn a college degree in a hospitality-related field in order to jump into a supervisory or managerial role upon graduation. While many colleges and universities have hospitality or tourism classes, only a few have entire schools dedicated to the hospitality industry. If you want to earn a degree from one of the best, here are the world’s top hotel and hospitality management schools. Ecole Hoteliere de Lausanne Located in Lausanne, Switzerland, this prestigious school offers a world-class hospitality education with a global focus. Courses are taught in English or French, and students are required to complete two six-month-long internships, often in different countries, before graduation. The school also focuses on culinary skills and restaurant management, and there are several “teaching restaurants” on campus, including one that has earned a Michelin star. Cornell University’s School of Hotel Administration As part of the Ivy League, this program offers hands-on training in its on-site restaurants and hotel, plus a focus on academics in its Center for Hospitality Research and Baker Program in Real Estate. The school is located in Ithaca, New York and offers a dual degree program with the Culinary Institute of America in Hyde Park, New York. The School of Hotel Administration’s alumni network includes over 14,000 members and more than 50 Cornell Hotel Society clubs around the world. University of Central Florida’s Rosen College of Hospitality Management Named for the owner of Florida-based Rosen Hotels and Resorts, this school is located in Orlando, Florida. It offers traditional hospitality management degrees in addition to specialized programs in theme park management, golf and club management, entertainment management, and event management. Students can earn Bachelors, Masters, and PhD degrees. Les Roches International School of Hotel Management This globally focused school has campuses in Switzerland, Spain, and China, which offer both undergraduate and graduate degrees. Students can choose between specializations such as digital marketing strategies, hospitality entrepreneurship, and resort development, and successful completion of two six-month internships is required before graduation. University of Nevada’s William F. Harrah College of Hotel Administration Located just a stone’s throw from the Las Vegas Strip, it makes sense that this school would offer some of the world’s best programs in casino management, golf management, and meeting and events management. Top hospitality companies visit the campus every year for recruiting, and students often work part-time or as interns during their studies. Hotelschool The Hague Located in the Netherlands, this school has campuses in The Hague and Amsterdam, which offer undergraduate and MBA degree programs. Courses are taught in English, and the school attracts students from across the world, who often embark on global hospitality careers upon graduation. Oxford Brookes University’s Oxford School of Hospitality Management This British school offers undergraduate and graduate degrees with a focus on international hospitality. Students have the option to spend one year in an internship, and the school matches students with experienced industry professionals in a mentorship program. Glion Institute of Higher Education Known simply as Glion, this hospitality school has three campuses; the original is located about 40 miles outside of Geneva, Switzerland, and two satellite campuses are located in Bulle, Switzerland and London, England. Students can specialize in International Event Management, International Hotel Development and Finance, Luxury Brand Management, and more. Michigan State’s Eli Broad College of Business, School of Hospitality Business This school is most well known for its undergraduate degree program, but it also offers executive education and a minor in Hospitality Real Estate Investment Management. The school often hosts guest lecturers and speakers from various leading hospitality companies and encourages students to complete internships. Virginia Tech’s Pamplin College of Business, Department of Hospitality & Tourism Management Offering a wide variety of courses, this school provides education in tourism destination management, catering management, revenue management, data analytics, and more. Students have the opportunity to earn dual degrees with other Virginia Tech programs, like Real Estate or Business. Online Hotel Management Degrees If full-time school isn’t the best option for you, a few e-learning platforms offer hospitality management degrees online. In addition to full degree programs, you can also find continuing education courses online to continue to hone your hotel management skills without committing to full-time classes. Some leading online programs include Florida International University’s online bachelor’s degree in hospitality management, The University of Alabama’s online bachelor’s degree in hospitality management, and eCornell’s suite of continuing education courses that range from revenue management to guest loyalty strategies.   Hotel Jobs & Career Paths: A Complete Breakdown If you’re certain that you want a career in the hotel industry, you’ll need to decide exactly which role is best for you. A wide variety of jobs compose the entire industry, so people with any type of background or experience can find success in one facet or another. It’s also common for people to start in one role or department, then switch, sometimes multiple times, between roles and departments to build a holistic understanding of hotel operations. General managers have sometimes worked in nearly every hotel department before reaching the GM role! It might seem daunting to apply for your first position, but remember that it’s quite common to jump between departments, if you later find there’s another role you would prefer. Corporate vs. on property hotel jobs Do you think all hotel jobs are based in actual hotels? Many hotel industry professionals don’t work in a hotel at all, but instead in a corporate office or headquarters that works closely with the properties themselves. Some corporate hotel jobs are even split between several properties, with the employee spending a day or two each week at a couple different hotels in one market. Corporate hotel jobs can include roles in marketing, revenue management, sales, reservations, and even branding and real estate development. Corporate hotel jobs can be a fantastic way for someone who is passionate about the hospitality industry to also gain experience working in a traditional office setting, and these jobs often offer the unique perspective of working with more than just one property. However, these jobs can be more difficult to find as hotel companies typically have just a handful of corporate offices, compared to a whole portfolio of properties around the world. Hotel Operations Are Highly Cross-Functional A successful hotel should operate like a sports team, with various departments responsible for different tasks, and the general manager acting as the team captain. Like positions on a soccer field, each position in a hotel requires different skills and work styles, and, while the roles themselves are unique, they’re all crucial to the overall operations of the hotel. General Manager: Every hotel is a business, the GM is the CEO. The GM is responsible for everything that happens on property, from steering the hotel’s strategy to making hiring decisions to resolving serious guest complaints. A general manager usually has his or her own office, but they spend much of the day meeting with the executive team or other departments or walking throughout the hotel and speaking with guests. A GM should be a true “people person” who has strong leadership skills, since they interact constantly with both guests and employees. Sometimes the GM also interfaces with the hotel’s owner or brand representatives, so communication skills are also important. Many general managers work their way up from other departments, perhaps spending a few years as a Director of Rooms. While the role of a general manager can be extremely rewarding, it’s also a challenging job, which carries a lot of responsibility and the flexibility to respond to problems around the clock. General managers typically have a decade or more of work experience in the hotel industry, and many hold college degrees in hotel management. Salaries can vary greatly based on the size and location of the hotel, with average annual pay between $75,000 and $140,000. Operations Manager: An operations manager sits below the general manager and is responsible for overseeing all of the operational aspects of the hotel, which is essentially everything involved in the delivery of a great guest experience. This role supervises the front office, housekeeping, sales, food and beverage, and any other operational department the hotel may have. Ops managers must have a wide range of leadership and communication skills, since their work involves leading teams of employees and solving problems. The operations manager role can be challenging due to the high time commitment and constant demands of both employees and guests, but it’s also a fantastic stepping stone for someone with the goal of becoming a general manager. Operations managers should have several years of work experience, and many hold degrees in hotel management. Salaries depend on the size and location of the hotel, but an average salary is between $51,000 and $95,000.  Housekeeping Manager: The housekeeping manager is responsible for everything required to cleaning guestrooms and the hotel’s public areas. But this role isn’t as simple as overseeing the washing of sheets. Housekeeping managers must coordinate housekeepers’ schedules, hire housekeeping staff, manage inventory, provide quality control checks, and work closely with the front office team. A housekeeping manager must be detail-oriented and a team player. While this role doesn’t work closely with guests, a big part of the role is motivating and developing the housekeeping staff, which can be a challenge in a department that traditionally has high turnover. Some housekeeping managers work their way up from the front desk or housekeeping teams, and others land the job directly out of college or as part of a management training program. Average housekeeping manager salaries range from $66,000 to $90,000. Front Office Manager: The front desk is one of the most important parts of the property, handling check-ins and check-outs, answering questions, and performing administrative tasks. A front office manager supervises the front desk’s operations, which can involve hiring, training, and motivating staff in addition to resolving guest issues. The front office manager works closely with the housekeeping manager to coordinate room cleanings, and the role also plays an important part in communicating guest complaints (or recognizing great guest experiences) to other departments. Front office managers should have excellent communication skills and a lot of patience. Like housekeeping managers, front office managers can get promoted from a front desk agent or front desk supervisor role. Some also come through management training programs. The average front office manager salary is around $42,000, but can vary based on the size and location of the property. IT Manager: Technology is no small part of hotel operations, with nearly every department using some sort of technology solution - from property management systems behind the front desk to reservation systems in restaurants. The IT team is responsible for ensuring all of the hotel’s systems are working properly in addition to maintaining guest-facing technology (like WiFi and electronic locks) and protecting the hotel from cyber attacks. The average IT manager salary is approximately $80,000. Engineering: The engineering team has arguably the most important job in the hotel: they’re responsible for ensuring the physical building is in tip-top shape. Someone working in the engineering team should like being hands-on and have a sense of pride for building they work in. Engineering managers and team members often have a background in maintenance work, perhaps having worked in an office building or hospital previously. The average salary for a hotel engineering manager is around $32,000. Revenue Management: Depending on the size of the property, a hotel might have one revenue manager or a 3- or 4-person revenue management team. Revenue managers are responsible for setting rates, managing the hotel’s online distribution channels, and forecasting rates and occupancy. Revenue managers should have both analytical skills and people skills, since the role involves analyzing historical and market data and working closely with front office, sales, and marketing colleagues. Some revenue managers come from front office or reservations backgrounds, while others find their way to a hotel revenue management job from another type of revenue management field, such as airline or rental cars. Revenue manager salaries vary based on the level of responsibility, but the average salary is around $65,000. Marketing: The marketing department’s key responsibility is to communicate the hotel’s value proposition, brand, and unique characteristics to travelers who may want to book the hotel. Traditional marketing methods like print advertising, are becoming less common, and marketing departments now focus on online channels, such as email newsletters and social media. The marketing team works closely with sales and revenue management to brainstorm upsells and promotions then decide which marketing channels to utilize. Hotel marketing professionals should be creative, resourceful, and articulate.  They should also be great managers because they’ll often need to oversee a hotel’s digital marketing agency where they’ll need to be well versed in marketing skills like SEO, PPC, CRO and more to be effective. Hotel marketing managers and coordinators don’t necessarily need to have backgrounds in the hotel industry, as many come to hotels from other types of marketing roles. Average salaries range from around $44,000 for coordinator roles to $63,000 for manager roles. Sales: The sales department is in charge of selling meeting space, arranging group room blocks, and planning catering and banquet functions. Small hotels may have just one sales manager who handles everything, while large hotels and resorts may have sales teams with coordinators, sales managers, and catering managers, some of whom may even be based remotely. Sales managers work closely with nearly every department at the hotel, from front office to food and beverage. Rather than working directly with guests, sales managers often work with event planners, like corporate travel planners and wedding planners, to decide on the specifics for the event or room blocks. Sales managers can work their way up from other hotel departments or come from other industries altogether. The average sales manager salary is around $60,000 but can be higher depending on the size of the property and commission or bonus structures.   Best Hotel Industry Conferences One way for hotel professionals to learn about trends and grow their networks is by attending industry events. Many industry organizations host small, regional events, while some other events are held annually and attract attendees from all over the world. ALIS: Held every January, the Americas Lodging Investment Summit is one of the world’s largest hotel investment conferences, with about 3,000 attendees every year. Lodging Conference: This annual conference attracts nearly 2,000 hotel general managers, CEOs, and owners for a few days of brainstorming and networking. The atmosphere is relaxed, with golf outings, shared meals, and think tanks that encourage the participants to come up with creative solutions for trends impacting the industry. Phocuswright Conference: Since Phocuswright is a hospitality industry market research company, it only makes sense that their annual conference would be rooted in data and trends. Their yearly event showcases speakers from the most cutting-edge facets of the industry, like CEOs of hotel technology start-ups, along with insight from Phocuswright’s own analysts. Skift Global Forum: Relatively new to the scene, this travel media company hosts several exciting annual events, including the Skift Global Forum, which explores the future of the travel industry. The Forum event brings speakers from cutting-edge travel companies and offers educational and networking opportunities for travel industry professionals. Indie Congress: The Independent Lodging Congress brings together independent hotel owners and operators for a few days of networking and idea sharing. Speakers include leaders of independent hotel, food and beverage, media, and technology companies.   Top Hotel Industry Publications The hospitality industry is constantly changing, thanks not only to technology, but also as a result of economic factors, legislation, politics, climate, events, and more. In order to stay up-to-date on the latest industry news, hospitality professionals read industry publications to keep them informed. These publications contain articles about new hotel openings, industry conferences, mergers and acquisitions, new technology for the hotel industry, and more. Hotel News Now: As the press arm of Smith Travel Research, a leading hotel industry analytics company, HNN publishes articles rooted in data from STR’s many studies and events. They track new hotel openings, closures, and brand changes, and their almost-daily “5 things to know” articles provide essential talking points on trends and industry news. Lodging Magazine: Published by the Americna Hotel & Lodging Association, this magazine is both a print magazine and an online news source. Topics range from new hotel openings to food and beverage trends to career development. Hotel Management: This media company delivers articles on topics such as technology, design, and strategies for owning and operating hotel businesses. In addition to their online content, they also produce the monthly Hotel Management print magazine. Hotel Executive: With a focus on providing relevant content for hospitality industry leaders, this online news site covers topics like hiring strategies, hotel design trends, and career development. Hotel Business: This media company isn’t only relevant for property-level hoteliers, but asset managers, owners, and investors too. They also produce an Executive Roundtable series which features insight from industry leaders. Hotel Business has both print and digital editions.     Most Influential Hotel Industry Organizations Many hospitality industry professionals will tell you that the industry feels very small. It’s not uncommon to run into former colleagues or classmates at events or trade shows - or to get to know fellow hospitality professionals in your area. Industry organizations play a big role in creating a sense of community within the hospitality space in addition to hosting events, holding conferences, and offering networking opportunities. HSMAI: The Hospitality Sales and Marketing Association International isn’t only an organization for sales and marketing professionals, but any hotel industry professional who plays a role in revenue generation. The organization has chapters all over the world and hosts educational workshops, networking events, and conferences. HEDNA: The Hotel Electronic Distribution Network Association started in 1991 with the goal of advancing the hotel industry through electronic distribution channels. Today, electronic distribution includes OTAs, the GDS, tour operators, technology solutions, and more, and the organization hosts educational events and conferences globally. AAHOA: As the largest hotel owners group in the world, Asian American Hotel Owners Association has over 18,000 members in the United States and provides a variety of educational and career development resources. The organization holds an annual convention and produces the monthly Hotelier magazine. AHLA: The American Hotel & Lodging Association works as a supporter and advocate of the hotel industry in the United States. The organization offers educational resources, provides networking opportunities, and hosts the annual Americas Lodging Investment Summit (ALIS). BLLA: The Boutique & Lifestyle Leaders Association brings together a variety of independent businesses, from boutique hotels to fitness studios, fashion retailers, and wellness businesses. The organization helps its members succeed in largely corporate industries while retaining their unique character. HFTP: Hospitality Financial and Technology Professionals began in 1952 and now operates offices and chapters around the world. The organization provides education, events, and resources for people in the finance and technology sectors of the hotel industry in addition to organizing the annual HITEC conferences.  HTNG: Hospitality Technology Next Generation is a trade association for hotel IT professionals and technology vendors. The organization aims to help hotels become more efficient and successful through implementing technology solutions.   Major Employers in the Hotel Industry Though the hotel industry is more than only chain hotels, global brands are the largest employers in the industry - and some of the world’s largest employers. Working for a major hotel company can offer benefits like complimentary hotel nights at properties around the world, a global network, and the opportunity to transfer to another property to grow your career.  Hilton: Hilton began when Conrad Hilton bought his first hotel in Waco, Texas in 1919. Today the company operates 5,757 properties in 117 countries. 17 brands make up the Hilton portfolio, including Waldorf-Astoria, DoubleTree, Embassy Suites, and Hilton Garden Inn. Some of Hilton’s newest brands include the Curio Collection, the Tapestry Collection, and Canopy. Aside from its impressive brand portfolio, Hilton is known as a technology pioneer & innovator amongst the brands. Hilton’s corporate headquarters is in McLean, Virginia. Hyatt: In 1954, the first Hyatt House hotel opened near LAX airport, and during the company’s first few years, the strategy was to open hotels near airports with the expectation that air travel would continue to grow in popularity. That hypothesis proved correct, and Hyatt now has over 875 properties, 20 brands, including Park Hyatt, Hyatt Regency, and Hyatt Place, and a global footprint in more than 60 countries. Their headquarters is in Chicago, Illinois. Marriott: The world’s 3rd largest hotel company started from modest beginnings with a family-run root beer stand in 1927, later opening their first hotel in Washington, D.C. in 1957. Marriott continued growing, adding new properties and brands to their portfolio, and in 2018, Marriott acquired Starwood Hotels & Resorts. The combination of the two companies now includes 1.1 million rooms in over 5,700 properties, with brands like St. Regis, JW Marriott, and Courtyard by Marriott. Marriott’s headquarters is in Bethesda, Maryland. Accor: As Europe’s largest hotel company, Accor operates over 700,000 hotel rooms, about half of which are in Europe. The company was founded in 1967 and, after several acquisitions, now includes brands like Fairmont, Novotel, and Ibis and properties in 110 countries. Accor’s headquarters in Issy-les-Moulineaux, France. IHG: Intercontinental Hotel Group is a conglomerate of several hotel companies, including Kimpton, Holiday Inn, and Intercontinental, which includes 5,795 hotels and over 860,000 rooms. While IHG itself was founded in 2003, the brands have longer histories. IHG has a few head offices, including one in Atlanta, Georgia and another in the UK.   The Best Hotel Industry Books Whether you’re trying to determine if the hotel industry is for you or if you’re an experienced professional looking for some inspiration, these books by industry legends are compelling reads for anyone interested in hospitality. Setting the Table: The Transforming Power of Hospitality in Business by Danny Meyer: The legendary restaurateur and businessman tells his story of building his restaurant empire from Union Square Cafe to Shake Shack. Four Seasons: The Story of a Business Philosophy by Isadore Sharp: You’ll find this book in the offices of general managers around the world, in which the founder of the Four Seasons brand shares his wisdom about taking care of not only guests, but employees too. Without Reservations: How a Family Root Beer Stand Grew into a Global Hotel Company by J.W. "Bill" Marriott Jr.: The son of the founder of the Marriott hotel brand, Bill Marriott writes about the lessons he learned from his father and the key takeaways from building an iconic company. 100 Tips for Hoteliers: What Every Successful Hotel Professional Needs to Know and Do by Peter Venison: As a former hotel management textbook writer, hotelier, and frequent traveler, Peter Venison compiled his tips and tricks for running a successful hotel and being successful in the industry, making this book a good read for anyone curious about the hotel industry as well as hotel executives. Nuts!: Southwest Airlines' Crazy Recipe for Business and Personal Success by Kevin Freiberg: With lessons that apply beyond just the air industry, this book shows how Southwest Airlines’ unique approach helped the airline built passenger loyalty and financial success. Looking for more great industry reads? Check out our 16 favorite hospitality books!   Major Trends Impacting the Hotel Industry Right Now Like every industry, the world of hospitality changes continuously. As a strong economy and new technologies make travel more accessible to people around the world, the industry is growing and expanding in new ways. Forward-thinking hoteliers should always be aware of the leading industry trends so they can ensure their own businesses stay competitive and relevant. Vacation rentals/homesharing: The rise of Airbnb led to vacation rentals, previously a niche market in leisure destinations, becoming a viable competitor of traditional hotels not only for vacationers, but also for business travelers and groups. As travelers try homesharing (some even developing a preference for it), traditional hotels can compete by offering more local experiences and home-like amenities while maximizing the features that set them apart, like unique food and beverage outlets and creative public spaces. Globalization and international travel: Thanks to the rise of technology, a growing global middle class, and people seeking experiences rather than material possessions, more people are traveling than ever - especially internationally. The number of international travelers has risen steadily for decades, with the most growth coming from the Asia-Pacific region in the last few years. Bleisure: For years, hoteliers treated business travelers and leisure travelers as two distinct guest profiles. Business travelers would typically stay during the week, and leisure travelers would book weekends. In recent years, the lines have blurred, with many business travelers choosing to include leisure time on their business trips, even extending their trips in some cases, leading to the term “bleisure.” Eco-friendly development: As consumers show a preference for sustainable businesses, hotels are going green - in more ways than just encouraging guests to reuse towels for an extra day. Some ways hotels are becoming more sustainable include eliminating single-use toiletry bottles, adding recycle bins to guestrooms, and using compostable to-go containers and utensils. A recent Booking.com study showed that 70% of travelers would be more likely to book eco-friendly accommodations. The hotel industry is incredibly dynamic going into 2020 so we couldn’t cover everything happening in this article. Want to learn about more hotel industry trends? Check out: 100+ Hotel Trends to Watch in 2020   Hotel Industry Terminology, Definitions & Jargon If you were to sit in on a hotel’s revenue management meeting, it might sound like the meeting participants are speaking another language. Acronyms, abbreviations, metrics and jargon. Occupancy: The percentage of rooms occupied during a given period of time. For example, if your hotel has 80 rooms, and 71 of them were occupied last night, then last night’s occupancy was 88.75%.  Occupancy = Rooms Sold / Total Number of Rooms ADR: ADR, or average daily rate, is simply the average rate sold during a given period of time. For example, if a hotel booked 71 rooms last night, and the total room revenue was $6745, then last night’s ADR was $95. ADR = Total Room Revenue / Room Nights Sold RevPAR: An abbreviation for Revenue Per Available Room, this metric is calculated by multiplying the occupancy percentage by the average daily rate (ADR). For example, if your occupancy was 88.75% and your ADR was $95, then your RevPAR would be $85.31. RevPAR = ADR x Occupancy % RevPAR Index: RevPAR is a great metric to determine how a hotel is doing today versus yesterday or compared to last year, but what about the hotel’s performance against the market? RevPAR index compares a hotel’s RevPAR to the RevPAR of a set of other hotels.  RevPAR Index = Hotel’s RevPAR / Total Sample Set RevPAR CPOR: This metric stands for Cost Per Occupied Room, and it’s calculated by adding up all of the expenses associated with a booked room, including housekeeping, utilities, laundry. Compset: Compset is short for Competitive Set, which is a group of approximately 4-8 hotels that your hotel views as close competitors. Typically, compset hotels are located in the same area, offer similar amenities, and sell similar rates. Chainscale: With so many hotel brands on the market today, Smith Travel Research’s chain scales organize them into quality classifications which represent roughly the same level of service and amenities. The chain scales are Luxury, Upper Upscale, Upscale, Upper Midscale, and Economy. For example, Four Seasons falls in the Luxury category, Residence Inn is Upscale, and Econo Lodge is Economy.   Hotel Industry Professional Certifications As hospitality professionals gain more experience in their fields, they may want to further their knowledge and credibility by earning an industry certification. Several industry organizations offer certification programs which could require specific work experience, an exam, or a course. Once certified, a hospitality professional can add the designation to their resume (or after their name on LinkedIn) to demonstrate their expertise in their field. CRME: Certified Revenue Management Executive. This certification is organized by HSMAI and is designed for revenue management professionals. It requires work experience in the revenue management field and a passing grade on an exam. CHTP: Certified Hospitality Technology Professional. This certification is organized by HFTP and is designed for professionals in the finance and information technology fields, such as hotel controllers or IT directors. CHRM: Certified Hospitality Revenue Manager. The American Hotel and Lodging Educational Institute (AHLEI) organizes this certification, which requires either work or educational experience in a revenue management field and a passing grade on an exam. CHA: Certified Hotel Administrator. Also organized by AHLEI, this certification is for hotel general managers, assistant general managers, owners, or directors of rooms, and it requires at least two years of experience in an executive role and a passing grade on an exam. CHAM: Certified Hotel Asset Manager. The Hospitality Asset Managers Association organizes this certification, which has strict requirements that include letters of recommendation, years of work experience, an exam, and final approval by HAMA’s advisory board. CHHE: Certified Hospitality Housekeeping Executive. Organized by AHLEI, this certification is specifically designed for housekeeping executives and open to anyone who has worked in a managerial level in a hotel’s housekeeping department for at least a year. CHFE: Certified Hospitality Facilities Executive. AHLEI also offers this certification especially for hotel engineering or facilities leaders. At least 1 year of managerial work experience is required in addition to a passing exam grade. CFBE: Certified Food And Beverage Executive. Hospitality professionals working in kitchens, restaurants, or banquet operations are eligible for AHLEI’s food and beverage certification, which involves passing a test in addition to demonstrating relevant work experience. CHAE: Certified Hospitality Accountant Executive. Another certification run by HFTP, this one is designed for accounting professionals within the hotel industry. Candidates could be directors of finance, CFOs of hotel companies, or consultants. -- By now, your interest in the hotel industry should be sufficiently piqued. We invite you to continue learning - whether you’re new to the industry or not - by subscribing to industry publications, participating in industry organizations, or perhaps studying for a certification exam. This exciting field can open up a world of opportunities, build lifelong relationships, and take your career to new heights.   Did we miss anything in our guide? Let us know!  

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Hotel Revenue Management: Here's Exactly How to Succeed

by
Hotel Tech Report
2 weeks ago

As a relatively new addition to the hotel leadership circle, the role of a revenue manager is constantly evolving. Hotel revenue management requires an eye for detail, interpersonal aptitude, technical skills and analytical prowess all combined. So how does one become a rockstar hotel revenue manager in 2020 and beyond? Simple, get a revenue management job! Kidding aside, the best way to learn how to excel at something is to watch the best at work - so in this article we’ll go into detail on the daily lives of revenue managers to help you understand the skills you’ll need to succeed in this highly dynamic role. We asked some of the best revenue managers we know to help us craft this article.  We then took their feedback and used it to show you exactly how the best RMs in hospitality plan their work days and then detail the skills they use throughout the day. Lots of hoteliers are interested in this exciting data driven role, but few understand what it actually entails. Before we get started, we want to give a huge shoutout to the rockstar revenue managers who helped make this resource possible: - Connor Vanderholm, Corporate Revenue Manager @ Aimbridge Hospitality - Rafik El Guizawi, Corporate Revenue Manager @ Dimension Development - Sarada Muduli, Corporate Revenue Manager @ Lords Hotels & Resorts - Kevin Chan, Revenue Manager at JC Resorts - Daniel Jang, Senior Revenue Manager @ Marriott Hotels - Elizabeth Selva, Revenue Manager at Kriya Hotels - Fabian Bartnick, Founder at Infinito - Adam Richards, Revenue Manager at Hilton   Let's dive in!   The Basics: What is Revenue Management? In the simplest terms, a hotel’s revenue manager is responsible for setting prices that will maximize the hotel’s profitability and meet its strategic goals. While this task might not sound daunting  at first, it involves a mix of analytical skills, market research, critical thinking, and a little bit of gut instinct to make sound pricing decisions. Great revenue managers must also balance the hotel’s mix of group and transient business which entails negotiation between marketing and sales.  RMs must also develop and implement promotional strategies and serve as the main point of contact between the hotel and online travel agencies.A revenue manager needs to keep a constant pulse on the hotel’s competitive set as well as demand drivers in the market, like major events and holidays, since these external factors also affect the hotel’s positioning.  Sure this includes reading and understanding STR reports but is just the tip of the iceberg.  Great RMs don’t just understand the fundamentals like price elasticity but they deeply internalize the concepts and have a gut feel for how they are shifting in real time.   On-property vs. Corporate Revenue Management Unlike other hotel positions like a rooms manager or a general manager, a revenue manager is not always required to be on property. An on-site revenue manager can benefit from firsthand knowledge of the market and activities at the hotel, but, thanks to technology, hotels can leverage the skills of a corporate revenue manager with great results.   “As a remote revenue manager I have the fortune to avoid a lengthy commute which enables me to start my day earlier than normal, I start at 7 am every day. The first thing I do is clean up my inbox of any correspondence sent to me after hours so everything from the day prior is resolved and I have a clean slate. I then get to work on inventory review for all my properties giving extra heed to unusual pickup within the next 14 days, double digit pickup within 90 days, or 5+ pickup in the next 365. After this I begin preparing for my weekly revenue calls with hotels which I try to schedule Tuesdays-Thursdays which leaves Mondays and Fridays for team meetings, trainings, projections and large system or rate adjustments. I set aside time each week to work on building Excel-based tools or enhancing the ones I already use. I spend as much time in One Yield and GRO as I can but but looking at past and future trends for revenue calls is best done by pulling reports and plugging them into Excel tools.”  - Connor Vanderholm, Corporate Revenue Manager @ Aimbridge Hospitality   While the role of a revenue manager is similar whether they’re based on property or not, there are a few key differences. A corporate revenue manager might oversee a cluster of several properties, up to several dozen, as in the case of Sarada Muduli, Corporate Revenue Manager at Lords Hotels & Resorts, who manages a portfolio of 25 hotels. In order to manage their portfolios effectively, a corporate revenue manager’s schedule might contain frequent calls with each hotel.   “I supervise and head 25 mid segment hotels within ARR bracket of USD 35-55 . First thing I look at the trend of market segment and business source contribution to a particular hotel Then I come to know where is the loophole if any hotel is going down YOY or to Revenue Budget. Then I look at the pick up analysis, forecasting and market analysis. Then I meet my team for next week's preparation and the instructions are clear between us. Why to do and how to do it”  - Sarada Muduli, Corporate Revenue Manager @ Lords Hotels & Resorts "The routine requires a lot of discipline because of the distractions that come up on a daily basis. We constantly have to be planning and adjusting strategies for the future, which is the most important part of the job while explaining the events that caused the recent results. So we to be successful, we have to be in tune with past, present and future." - Rafik El Guizawi, Corporate Revenue Manager @ Dimension Development   While a corporate revenue manager relies on calls and emails to stay up to date on the hotel’s activities, a property-based revenue manager spends time interacting with other hotel employees on a face-to-face basis. Taking the time to chat with colleagues isn’t just to be social, but also to gain important insight into the challenges and ideas coming from other departments. Many hotels and hotel management companies work with remote revenue managers, but these arrangements are not one-size-fits-all. One hotel may have a dedicated revenue manager who just happens to be based remotely, while other hotels might work with a cluster revenue manager. In this case, a revenue manager oversees several hotels within the same management company or brand. Best Western, for example, has remote revenue managers who work with portfolios of Best Western properties across the country. In other cases, hotels might work with remote revenue managers to benefit from revenue management expertise without needing to hire an in-house revenue manager on a full-time basis.   Great Revenue Management Starts With Great Tech Technology is an essential component of any revenue manager’s job. In addition to the hotel’s property management system, revenue managers must be familiar with using the channel manager to feed rates and availability to online travel agencies, a market intelligence tool to provide insight on competitor rates and market demand, and a revenue management system to help them decide on the optimal rates to sell.  Most of all revenue managers must be experts at leveraging revenue management software like IDeaS G3 to effectively make pricing decisions and implement real time strategies.   “The exceptional revenue managers I know are dedicated to becoming RMS system subject matter experts who can answer that all-too-common question, “what is the system thinking?” -Connor Vanderholm, Corporate Revenue Manager @ Aimbridge Hospitality “Know how your systems work with one another. Understanding which systems are interfaced with each other is key. It's inevitable that technology will break. But fixing it and preventing major integration issues, can save the company a lot of time and potential lost revenue. Test yourself, draw a systems map of all of the technologies and systems your property uses. Identify which messages are sent from where, what each one controls, how that affects your reservations and what do to if it fails. Be a systems expert, not just a systems user!” -Kevin Chan, Revenue Manager at JC Resorts   A nearly endless amount of historical data, competitor rates, and market statistics mean that a revenue manager must leverage technology solutions to reveal the story behind the numbers and find its implications for the hotel.   Revenue Management's Role Within the Leadership Team Though it may seem lonely to work in the Revenue Management department, which is usually just one or two people, revenue managers are constantly interacting with other hotel departments. The Sales team is a crucial partner for any revenue manager, since these two departments must work together to decide on rates and availability for group room blocks. Revenue managers also work closely with the Marketing department to create promotional offers and campaigns. And revenue managers and the Operations team collaborate on executing promotional offers, upgrades, and overbookings, if necessary.   “We revenue managers love our numbers, but we have to remember that this is an industry of personal connections and we can’t get anything done without buy-in from the whole team. The exceptional revenue managers I know build strong relationships with their stakeholders by soliciting and valuing their input. It is crucial that on property operations property teams are listened to and that their experiences are leverage toward a holistic revenue management strategy. We revenue managers love our numbers but we have to remember that this is an industry of personal connections and we can’t get anything done without buy-in from the whole team.”  - Connor Vanderholm, Corporate Revenue Manager at Aimbridge Hospitality “I will always set aside face-to-face time with our sales team as they are vital to building a strong base that allows us to Yield the remaining rooms to maximize revenues daily. My work is probably 50/50, split between work on the computer and meeting with people around the property. I find it beneficial to speak with the other departments on a regular basis to help me keep a good pulse on everything that is going on. The hotel is an ecosystem, everything connects and affects one another. It’s also critical to be aware of what Marketing is trying to promote and communicate because that could affect our decisions the next day.”  -Kevin Chan, Revenue Manager @ JC Resorts   A Day in the Life of a Rockstar Hotel Revenue Manager While any revenue manager will tell you there’s no “typical day,” most begin their mornings by checking email and reviewing daily reports. Depending on the systems they use, some revenue managers need to pull reports manually, while others receive automated reports or use dashboards to get the data they need.   “Typically, I begin my day by briefly looking over the reports generated from the night prior - reviewing pickup for the prior day, our pacing to prior year and how it may impact pricing on higher, or lower demand dates. Shortly after, I attend the RevMax meeting with our Sales Team to review any new leads for the day. The rest of my day consists of yield management of the property's availability, restrictions and pricing strategies, meetings with the GM, Sales Team, Marketing, Call Center, Analytical work to identify booking trends, as well as monitoring and managing our network of third party booking systems, such as the OTAs, our CRS and GDS systems. In addition, I always block an hour a day of uninterrupted time, where I will dive into Demand360 forward looking reports, pace analysis reports, data extraction reports from our RMS. This time allows me to get a grasp of any potential changes in our comp set, the market, and within our own property's production. Managing the RMS (we use IDeaS G3) and ensuring I agree with the decisions it recommends is vital to my team trusting the system, which frees up time for me to focus on other items.” -Kevin Chan, Revenue Manager @ JC Resorts “My Daily Habits includes running daily pick up reports to see how many rooms we picked up and utilizing that information to make strategic pricing decision. Knowing market trends and leveraging that information to maximize my hotel's revenue. Reviewing forecast to ensure the hotel is on track to hit forecast/budget. Communicating with the front office on strategy for a perfect sell.”  - Daniel Jang, Senior Revenue Manager @ Marriott Hotels   Most of the morning is spent analyzing these reports to determine what caused results in the past, for instance, why the hotel didn’t sell out yesterday when it sold out on the same day for the last 5 years in a row, and forecasting for the future. With so much data at their fingertips, revenue managers must prioritize between analyzing competitor rates, researching upcoming events, studying rate trends, and evaluating how effective certain strategies are.   “We constantly have to be planning and adjusting strategies for the future, which is the most important part of the job while explaining the events that caused the recent results.” -Rafik El Guizawi, Corporate Revenue Manager @ Dimension Development   After lunch, revenue managers might meet with other hotel departments in person or via phone. A revenue manager might meet with the sales team several times per week, with the marketing team once every other week, and with the entire hotel leadership team on a weekly basis. If the hotel is part of a brand or management group, there might also be a regular meeting between the brand’s or region’s revenue management team.   “On my weekly revenue calls, I analyze granular level data to make educated pricing and yielding changes for the next 365 days out to ensure there aren’t any major events or opportunities missed!” -Elizabeth Selva, Revenue Manager at Kriya Hotels   These interdepartmental meetings are important, since they offer a great opportunity to gather feedback and ask for input from other stakeholders at the hotel. Sometimes fresh eyes can deliver exactly the insight a revenue manager needs, but sometimes two departments have very different ideas about a pricing strategy. For this reason, it’s crucial that a revenue manager’s people skills are as strong as their analytical skills.   4 Key Revenue Management Skills Whether you’re considering entering the revenue management track or an industry veteran who’s always trying to improve, these pearls of wisdom from revenue managers around the country show that their success is no accident. Hear directly from leading revenue management professionals who graciously shared their advice and daily routines with us.   #1 Become the go-to system expert As a revenue manager, technology is an essential component of day-to-day operations, so learning the ins and outs of each system can not only make your work easier, but it can also build your credibility. Knowing why the system did something or how to interpret a result can make the difference between a good revenue manager and a great one, especially in the eyes of a colleague in another department. “Technology changes faster than we can keep up with and we end up reacting by instinct vs. thinking of our actions” -Fabian Bartnick, Founder at Infinito   #2 Build strong relationships Though the analytical part of a revenue manager’s job can easily become the whole job, make sure to nurture the personal connections with colleagues and According to Connor Vanderholm, Corporate Revenue Manager at Aimbridge Hospitality, revenue managers can “build strong relationships with their stakeholders by soliciting and valuing their input.” Instead of working in front of a screen with the office door closed, a successful revenue manager will purposefully take time to talk with not only colleagues, but also revenue managers at neighboring hotels, their market managers from online travel agencies, and industry mentors. “The more comfortable your peers are around you, the easier your job will be.” -Kevin Chan, Revenue Manager at JC Resorts “Be accessible - The more comfortable your peers are around you, the easier your job will be. As the conductor of the revenue generation tactics the team as a whole work together to employ, having people come to you naturally and keeping you updated is extremely beneficial. It'll save you time, as well as help build strong relationships with those you have to work closely with.” -Kevin Chan, Revenue Manager at JC Resorts   #3 Embrace group business No, a sales manager didn’t pay us to write this, but most revenue managers could use a gentle reminder that the sales team isn’t out to sabotage your strategies. By adopting a positive mentality around group rooms, revenue managers can improve their relationships with the sales team and build a strong base of business in advance. “The most effective thing that a revenue manager can remember is that "group is king.” Cover a week and move on. Having a sound relationship with your sales team will allow you to strategize around group, find the base where you need it, and ultimately give you the biggest impact.”  -Adam Richards, Revenue Manager at Hilton   #4 Stay up-to-date on industry trends A good revenue manager might know everything about the competitor hotel down the street, but a great revenue manager also keeps current with broader industry news and trends. Revenue management is growing quickly and changing rapidly with the adoption of new technology, and it seems there’s an innovative new software company popping up every week with new revenue management insight. Subscribing to industry newsletters or attending industry events will help you apply these macro-trends to your hotel’s strategy. “Expand your knowledge of the key players in the industry and how their actions are influencing the market, which will give you a leg up in decision making!” -Elizabeth Selva, Revenue Manager at Kriya Hotels   Strengthen Your Revenue Management Skills Today Using a variety of skills and systems, a revenue manager is certainly an exciting and challenging role at any hotel. Whether home-based or property-based, revenue managers gather essential insight from market trends and historical data to shape their hotel’s pricing strategy, which ultimately drives ADR, occupancy, and RevPAR toward the hotel’s targets. While revenue management and dynamic pricing are still considered relatively new ideas in the hotel industry, revenue managers have the opportunity to work at the forefront of this change and bring their hotel into the digital age with sophisticated technology solutions. Eager to learn more about how to hone your skills as a revenue manager? Check out our three surprising routines to unlock your revenue management genius.  

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WTM London 2019: Here's What You Need to Know in a Complete 8,792 Word Guide

by
Hotel Tech Report
2 months ago

If you want to learn about all of the latest hotel tech product launches and feature releases from WTM London 2019, then you’ll love this comprehensive (yet skimmable) guide. Hoteliers can browse the new products covered in this guide to get a pulse on the latest tools and strategies available to grow your hotel business in 2020. We know that you've got too much on your plate to keep up with all of this yourself, so we carefully reviewed 100+ of the top product launches from the trade show floor and bucketed them into 6 major themes: 1. Group Business Innovations 2. Multi-Property Portfolio Tech Rollouts 3. Emerging Advertising Technology 4. Features & Products That Enter New Categories 5. Automation Features 6. Revenue Management & Big Data Bonus: 9+ Notable Product Launches   Let’s dive in, shall we?     Group Business Innovations   There's historically been a ton of hype around consumer travel apps and guest experience platforms but every hotelier knows that the real money is in group business.  Groups offer higher margins and larger deal sizes - who wouldn't want a piece of that?  As such, there are a lot of launches this year in the group and sales space ranging from sales CRMs to revenue management tools that offer displacement analysis and even 3D modeling software to better market your meeting spaces.   Pace: Group displacement analysis helps your team optimize decision making Group Displacement Analyses have always been a painful exercise for hoteliers. They take up significant time for a very simple question: “Will I make more revenue by taking in a group vs. continuing to sell to my transient business segments?” Revenue managers and sales managers can now evaluate group requests with ease. Users simply provide the duration of stay, the number of rooms required per night, and then they can customize the rates to quickly see the value of the group and make a decision if they should take the booking or not. Pace’s Group Displacement Tool uses accurate and granular forecasts to generate displacement analyses for you, that not only save you time, but also ensure that your evaluations are based on real data science. Read Pace Reviews   Matterport: Build 3D models of your meeting spaces to drive more group business Matterport is a spatial data company focused on digitizing and indexing the built world. With Matterport technology, anyone can create and share a digital twin of the built world, which can be used to design, build, operate, promote and understand any space. Creating a 3D digital twin of hotel rooms, meeting spaces and common areas is simple with Matterport’s technology. Using a Pro2 3D camera or any compatible 360 capture device, the Matterport Capture app guides one through the scanning process. The model is then uploaded to a Matterport Cloud account, where the software creates the digital twin. After creation, Matterport lets individuals edit, customize and refine the model. Matterport Cloud 3.0 harnesses the power of Matterport’s AI-based image processing technology, Cortex, to transform data collected with the Matterport Pro2 or a collection of simple 360 panoramas from compatible 360 cameras into Matterport True3D™ digital twins. Read Matterport Reviews   Clairvoyix: Hotel CRM for groups and sales teams Groups sales has seen very little change in the past few decades. Sales personnel typically call meeting planners from a stack of questionable leads pulled from the sales and catering system. The Clairvoyix Group Solution allows sales and marketing professionals to schedule targeted and personalized group/event direct marketing campaigns that include lifecycle marketing and automated follow-up by email, or from a tele-research center.  Fully qualified leads are delivered to property, regional, or headquarters sales personnel, eliminating the historical and time-consuming process of calling every lead in the system. The solution deploys sales and marketing automation, including lifecycle direct marketing (email and LinkedIn) allowing for an exponential gain in the number of meeting planners contacted. Most importantly, the system generates periodic communication with meeting planners who previously booked at meeting ensuring that all potential repeat business is secured. Read Clairvoyix Reviews   MeetingPackage: Plug into venue directories to increase meeting space occupancy MeetingPackage has been working hard to deliver flexible meeting payment services for both Travel Management Companies and their clients. AirPlus integration helps Travel Management Companies and meetings organisers centralise and manage payments more easily for their clients. Integration with Venue Directory means that hotels and venues across the UK and Europe benefit from distribution on the UK's leading platform for meetings organisers and enhances value for users of the Venue Directory's platforms by allowing users to consult availability of spaces, pricing and ancillary services all in one easy to use interface. MeetingPackage's new features are of particular interest to the sales and revenue management departments within a hotel group as they will be able to drive more M&E business through their direct channels. AirPlus integration will simplify billing for hotel users of MeetingPackage and corporate clients, making hotels' M&E products more attractive to those clients in the process. MeetingPackage's integration with Venue Directory means that for the first time venues will be able to distribute details of their availability, pricing, F&B and services to the UK's largest source of M&E enquiries thereby streamlining a labour intensive and old fashioned RFP process into a modern online booking and enquiry tool.  For many venues, direct integration with popular industry PMS platforms such as Oracle Opera or Mews Commander means less need to interact with third-party tools. MeetingPackage's integration with Venue Directory is unique in that it is the only service that facilitates the delivery of pricing and availability directly from a venue's PMS or sales and catering system to a front-end interface used by Meetings bookers, corporate clients and travel management companies worldwide.  With AirPlus, clients will be able to dynamically generate AirPlus payment numbers.MeetingPackage is the only M&E booking service to offer this facility and it has been designed to meet the requirements of corporate clients. Read MeetingPackage Reviews       Multi-Property Portfolio Tech Rollouts   Most hotel tech companies start off serving small independents.  After all, these clients are less demanding and easier to woo in the early days of launching a startup.  The interesting thing that we're seeing is a huge wave of startups that are hitting scale and moving upstream to serve enterprises with dedicated functionality built for groups and portfolios.  This is a great sign as it indicates that firms in the ecosystem are achieving healthy growth which ultimately is a sign that hotels everywhere are becoming more digitally savvy.   Oaky: New multi-property functionality built for portfolios Switching between multiple properties in the Oaky dashboard used to be..well...a hassle. They’ve fixed that. Oaky understands that when you work in a Hotel Group or Chain, you might have specific needs and this innovation demonstrates Oaky’s commitment to a platform that is easy to use for bigger groups and chains. With this development, hoteliers can control their Oaky content centrally, add deals in 1-click and ultimately generate more revenue.  In short, you can now switch between properties from within Oaky’s software where before you needed separate setups for each property. Read Oaky Reviews   RMS Hospitality: Property Management System helps clients with turnkey loyalty programs Loyalty programs can help hotels drive repeat visits and reduce acquisition costs by giving guests an incentive to return again and again. By allocating points for guest stays and activities that can be redeemed for credits,the RMS Guest Rewards module encourages guest engagement and brand loyalty. The more guests stay and spend, the more they are rewarded. Guest Rewards is a fully integrated module that can be added to any RMS client's existing hotel management system. Setup by the property is straightforward, with customizable reward ratios, i.e. dollars spent to points earned, and points earned to guest credit. Staff can enroll an existing guest in the hotel's database in the loyalty program with one click, making it quick and hassle-free for guests to join the program and start earning points. Points are automatically allocated to guest accounts based on their stay and activity spend, and can be redeemed as a payment type within RMS so staff can apply points to guest accounts when guests want to use their rewards. Guest Rewards is fully integrated with RMS' hotel management software, so hoteliers using RMS as their property management system can easily add loyalty program functionality to their tech stack without the need for additional software. Guest Rewards is also customizable to each hotel client, allowing properties to set up a points and rewards system that makes sense for their business model and fits their existing brand. Read RMS Reviews   GuestCentric: Multi-Property Booking Engine to Cross Sell Properties on Sell Out If your hotel is not available on a specific date, but your sister hotel on the other side of the road is still open for reservations, why not push your sister property. Helping the user not to start their search all over again and promote our group hotels as an alternative can prove to be a useful and profitable strategy. When a guest accesses the booking engine or website of the hotel and selects a specific date - if the hotel is full the the booking engine returns a message: "Sorry, we don't have any rooms left”.  When that happens hotels lose money. With this new functionality, GuestCentric can now provide those guests a room in another one of your fantastic hotels." The platform shows a list of hotels the user can choose from and when the user selects an option, the guest will be redirected to the partner hotel booking engine with the dates pre-selected. GuestCentric offers a highly personalized solution integrated into the Shopping Booster feature that is proven to increase direct bookings. Everything is engineered to remove from the process any friction that may affect the conversion. Read GuestCentric Reviews   Quicktext: Website chatbot for multi-property websites When you have several properties in the same website search is much more complicated than in simple websites. Groups like Accor can have >100 properties in the same city which is great but might induce choice paralysis on the customer side. Quicktext multi-property is a chatbot that is able to guide the customer from many possible hotel choices to the hotel that is most relevant to each customer based on their expressed needs. If you're looking for a hotel with a swimming pool in Paris on accorhotels.com you might come from having to search 160 properties down to 4 that are really relevant to satisfy your needs. What makes Quicktext different is its database. While all chatbots are text-based meaning that the hotel needs to introduce answers in a text format. Quicktext is structured around data points that they collect from the hotel. For example, you can tell the bot that there is a swimming pool by ticking a box in the software. The chatbot will then make an answer and when a prospective guest searches at the group level it will be very easy for the bot to find what hotels have a swimming pool in Paris. Read Quicktext Reviews       Emerging Advertising Technologies   Ad tech has been a hot sector for years with one of the highest profile mergers to date coming from the Taboola/Outbrain merger.  In hotel tech, it has taken some time to heat up.  Historically we've had digital marketing agencies and then a couple of categories in the space like metasearch management platforms (e.g. Koddi, Triptease) and audience targeting solutions like Sojern.  We noticed some really interesting tools and features launching in the ad tech space at WTM this year.  Most notably, Triptease has continued it's cadence of product launches driving towards an end-to-end guest acquisition platform.  Naturally the firm started it's journey optimizing conversion rates on hotel websites and is now focused on building innovative tools that bring more traffic into that finely tuned funnel.   Triptease: Bring more guests back to your hotel website with retargeting “Price remains the single most powerful factor in booking decisions, and we’ve known since the launch of Price Check that a live price comparison gives guests a proven, powerful incentive to book direct,” says Alasdair Snow, Triptease’s co-founder and Chief Product Officer. “Now, with Retargeting, we’re able to share that message with guests even when they’re not on the hotel website or booking engine. Most importantly, Triptease knows which guests are worth retargeting - and which to ignore.” Triptease’s algorithmic approach combines search, parity and behavioral data to avoid costly bidding mistakes. With Triptease Retargeting, hotels can avoid common pitfalls such as targeting a visitor if their search dates are in the past, or bidding to advertise when they don’t have the best price available online. In addition to knowing who to target and when to target them, Triptease Retargeting dynamically updates ad creative to show only the messages most likely to convert an undecided guest. Powered by Triptease’s price intelligence software, Retargeting allows hotels to show live price comparisons to guests based on their unique search - wherever they are on the web. Triptease is able to drive far higher levels of retargeting performance through our data advantages across user and journey targeting precision, global publisher coverage, optimised ad creative and co-ordination with attract and convert products. Read Triptease Reviews   Curacity: ORA provides Instagram revenue attribution over a 6-month buyer journey Curacity's new product, ORA for Instagram, measures travel influencers to determine which Instagram posts or stories resulted with a direct booking to that hotel for an attribution window of up to six months. Curacity built the data bridge to measure Instagram against hotels' PMS to determine bookings that were influenced by Instagram influencers.  We haven’t seen anything like this in the market. Competitive means of measuring Instagram is based on a 30-day window, max and this opens it up to 6x that. This time frame is irrelevant when consumers are booking a hotel stay that will cost over $1,000. Large purchases require a longer customer decision-making journey. Read Curacity Reviews   RoomCloud: Google Hotel Ads Management on any booking engine Thanks to Google Metasearch hotels and Property Managers can save money on commissions and increase traffic on their official website but only 74 companies globally can connect into Google Hotel Ads today.  Given that most hoteliers who are happy with their booking engine wouldn’t want to switch just to optimize Google Hotel Ads - RoomCloud now has a solution that integrates with any booking engine. RoomCloud Booking Engine is certified by Google to sell rooms and apartments on the Metasearch and it will act as a bridge between non certified Booking Engines that your property uses and Google Metasearch. RoomCloud just needs the inventory of prices and availabilities to send requests to. Through a "deep link" RoomCloud will connect Metasearch to your Booking Engine of choice.  When using this connection, your hotel will pay RoomCloud for Google bills every 3-months which can be a nice way to pay for advertising during off-peak times without dipping into your cash coffers. RoomCloud only asks for a fixed cheap annual fee for the activation of the connection, without any extra commission on the reservations. Your hotel then only pays for ad spend on Google. Read RoomCloud Reviews   Squarelovin: New player that helps hotels leverage user generated content to drive more bookings Professional hotel photography is super expensive and time consuming to generate but guests are increasingly wary of getting “catfished” by cherry picked imagery.  Content created by actual guests provides a sense of authenticity and social proof to new customers, much more than professional shots of empty pools or restaurants can. squarelovin helps curate and filter content created by actual guests, as well as effectively placing it on the website. The squarelovin UGC Management Tool collects all brand-specific User Generated Content in one place. By tracking selected brand accounts, geo-locations or hashtags, all images are filtered from Instagram in real time. Essential on & offline image usage rights can then be requested with just one easy click. The software takes care of individual feedback to the customers. This way, more direct appreciation can be conveyed while manual work gets reduced to a minimum. The tool is mainly used by marketing, e-commerce and social media managers. Their main task is to select those pieces of content which fit meet their expectations and fit the property’s aesthetics. squarelovin also comes with detailed analytics which allow users to precisely track which kind of content works best and which guests could become possible brand ambassadors. The amount of time spent on picking content and diving into analytics is based on individual preferences. As the squarelovin tool secures essential usage rights for UGC in accordance with copyright laws and in compliance with GDPR, it takes away the burden of dealing with image rights and the fear of possibly facing legal consequences when embedding content the wrong way. One of the big advantages of embedding UGC through squarelovin compared to other tools is that the galleries clearly indicate which Instagram user originally uploaded a picture or video, while a click on the content directs to the respective product detail page within the WBE. This results in significantly longer website visits and higher conversion rates. The UGC Management Tool, other than direct integrations of Instagram, allows filtering content before it’s published to the website. This way, brands can ensure that only UGC that matches their values and aesthetics is being featured. Moreover squarelovin also offers significantly more possibilities for collecting content, as the tool allows curate posts based on hashtags, mentions and geo-locations. Read squarelovin Reviews     Features & Products That Enter New Categories   It's no secret that hotel tech is kind of a $hit show when it comes to features and product portfolios.  It's often hard for hoteliers to tell who does what let alone who does what well.  Well, if you're having problems figuring it out we've got an easy solution - go check out their client reviews on Hotel Tech Report!  That said, it's natural for tech companies to expand their product offering over time by listening to customer feedback and this next group of companies is doing exactly that with their WTM launches.   GuestRevu: Reputation Provider Launches Service Tickets GuestRevu clients frequently told the hospitality software provider that one of the most helpful aspects of the guest feedback system was that they were getting notified quickly of small issues or downfalls in guest experience, such as repairs that needed to be made in bathrooms or improvements that could be made to the breakfast offering. Timely feedback meant that these could be rectified before they impacted other guests. However, one of the major challenges busy hospitality professionals face is ensuring these incidents are tracked and resolved as quickly as possible. Service tickets are GuestRevu’s answer to this, assisting management and staff facing these challenges by: - Removing ambiguity: each service ticket has one assignee, which means there is certainty of who is responsible for resolving this issue. - Ensuring issues are not forgotten: reminder emails keep each team member’s assigned tickets top of mind, whether the ticket has just been assigned, is approaching its deadline or is overdue. - Improving reaction speed: Automation rules can be set to generate tickets immediately and assign them to the appropriate people based on predetermined concern criteria. - Giving management peace of mind: ticket “watchers” can easily track when tickets are resolved, and if they are resolved quickly enough. - Keeping staff engaged and motivated: tickets are also a great way to share positive guest comments with relevant staff and their managers. The service ticket feature in the GuestRevu application helps clients to more efficiently and effectively manage incidents as they arise from customer feedback. A service ticket refers to a task created in the GuestRevu application that details a specific action which needs to be resolved. These could be from issues raised by guests or courtesy follow-ups should guest comments reference or highlight key-value elements of their experience. Service tickets can be generated automatically from direct feedback responses based on certain triggers or created manually by a user. Only users with appropriate user rights can create, view or resolve a ticket. Whoever resolves a tickets also needs to include a note so that everyone involved has a good overview of completed tasks. GuestRevu clients can create customised service tickets, such as a reminder to download reports or go through older reviews, or they can create a service ticket directly from a particular guest’s response and assign it to a particular team member. Service tickets can also be set up to be created automatically when a guest gives a low rating or alert logic is triggered from a specific question. Service tickets save teams time by allowing users to easily keep track of what tasks still need to be addressed, who is responsible for them, and when they have been completed. These are perfect for managing and monitoring review responses, maintenance tasks and more. Service tickets are an essential management tool, allowing GuestRevu clients to ensure every concern raised in their reviews is dealt with in an efficient and professional manner. With GuestRevu’s service ticket feature, clients are able to automatically generate tickets based on a number of triggers, including any rating on overall satisfaction scores and other key metrics related to specific areas of the customer experience. In comparison to competing systems in the market, this feature allows a more granular flexibility when creating specific rules for auto-creation from guest feedback. There is also no need for predetermined escalation groups to be set up in the system beforehand, which means users can select one or more watchers based on the nature of the task. The service ticket dashboard is built with the busy hospitality professional in mind, with the ability to easily view tickets assigned to the user or tickets the user is watching, with the click of a button. If a service ticket was created based on particular feedback from a guest or customer, this information will be stored in their profile on the GuestRevu system which staff can use to personalise their experiences in the future. Read GuestRevu Feedback   SiteMinder: The latest player to launch an App Store The Hotel App Store comes 18 months after the launch of SiteMinder Exchange, a connectivity hub that allows hotel data publishers and developers of hotel application software to transfer guest information between their systems. From 4 November 2019, hotels using a data publisher connected to SiteMinder Exchange—which includes more than 80 property management systems (PMSs) and SiteMinder’s channel manager—can use the Hotel App Store to access applications. This means that SiteMinder’s Hotel App Store allows hoteliers to filter, search or browse through over 100 applications that can seamlessly connect to their SiteMinder Exchange-connected PMS or, in the absence of that, SiteMinder’s channel manager, which can act as a data publisher by connecting the data from a hotel’s online booking channels to their selected apps. The Hotel App Store gives hoteliers access to the most relevant applications that support their daily operations of running a hotel business, help their business to grow, and make the daily work more rewarding. These applications include, but are not limited to, applications for upselling, guest communications, review management, loyalty programs, airport transfers and revenue management. To connect to an app, hoteliers need to simply sign up by filling in a form for their preferred app and let SiteMinder do the rest. Until now, app marketplaces have mostly been closed environments for hotels (e.g. Mews, Protel, Hotelogix), accessible only by using a marketplace provider’s designated PMS (with the exception of BookingSuite). Additionally, as the leading guest acquisition platform for hotels, SiteMinder’s Hotel App Store opens up the opportunity for 35,000+ hotels around the world to easily access and connect with apps right away by seamlessly connecting their guest data from online booking channels to their chosen apps, via SiteMinder’s channel manager. Read SiteMinder Reviews   RoomRaccoon: Cloud PMS player launches free light weight yield management tool Yield Management is a variable pricing strategy based on influencing and anticipating consumer demand. This feature maximizes revenue and profits by ensuring rooms are sold, and sold for the optimum price since many of RoomRaccoon’s clients may not implement a dedicated revenue management system. RoomRaccoon enable hoteliers to set rules based on availability and time to automatically increase/decrease prices. These can be simple independent rules like decreasing room prices if a set percentage of stock remains X days before arrival. They can also be a series of inter-dependent rules that regularly adjust prices with the passing of time based on performance / anticipated future performance. Either way the purpose remains the same. Ensuring hoteliers maximize revenue and profits. By automating these price adjustments hoteliers save a huge amount of time and eliminate human error. A number of very good stand-alone Yield Management Systems exist on the market. However, these need to be integrated into your existing Property Management System and are often prohibitively expensive for smaller / independent properties. Providing the Yield Management functionality for free within RoomRaccoon's PMS is unique and puts this important functionality in the hands of more hotels. Read RoomRaccoon Reviews   Repup: Reputation management firm launches a Hotel CRM solution Repup is solving the problem of manual, non-personalised and inconsistent communication with guests. They do this by unifying data from several interfaces including PMS, Booking Engine, OTAs and manual entries to save time for hoteliers and have a single source of truth for the entire guest data, past activity and persona profile. This product has an automation and data intelligence layer that enables hotels to define rules for their guest communication and set automated campaigns. The intelligence layer divides guest data into segments so personalisation can be achieved at scale. All transactional emails sent through the solution have an embedded concierge link that takes guests to a concierge using which they can submit preferences, buy upgrades and fill in-stay feedback. Read Repup Reviews     Automation Features   We've previously covered the automation trend in our ITB Recap so we won't belabor the issue.  Having said that, automation cannot be understated as a trend - it's HUGE.  Ultimately the role of technology is to make our lives easier and automation is something that computers do 1000x more efficiently than humans so it's a natural place to focus. Atomize: Real time pricing automation The hotel next door is pricing their rooms faster than you and it’s eating your profits without you ever even noticing.  Faster yield management software and real time pricing is like a secret weapon for revenue managers. If your local market competition is employing real time pricing, you are likely bleeding RevPAR so this concept of real time price optimization is especially important to understand and get a grip on. If your competition isn’t using real time pricing yet (which they most likely aren’t), this article will show you how you can use it to beat out the compset. A fully automated system working in real time gives your hotel an edge over the competition when you need it most. In full autopilot mode, Atomize continuously receives data from the PMS and continuously runs real time optimization runs and pushes the optimal rates back to the PMS for all room types and all future arrival dates around the clock where each price point is uniquely calculated in real time. In addition to considering historical data such as reservations, cancellations and current pickups, Atomize RMS also monitors real time changes, search trends, competitor information and other factors such as local holidays and dynamically sets the price per room type while respecting pricing hierarchy and takes into account the effect on adjacent days and room types. As any data points above change for any future arrival date, relevant price points updates in real time. With Atomize, hotels can continuously have real-time rates pushed live, around the clock, 365 days into the future, dynamically for all room types.   HelloShift: guest messaging smart reply automation Messaging as a channel for hotel guests results in more guest requests. This is a good thing but it can overwhelm the limited hotel staff resources. Furthermore, the high employee turnover in the hotel industry can lead to inexperienced staff providing inconsistent responses to even basic, routine guest requests. Smart reply helps hotels deliver consistent replies to common guest requests in a timely fashion. When a guest request comes in, HelloShift infers the intent of the guest request using Natural Language Processing (NLP) that relies on Machine Learning (ML). Once inferred, HelloShift scans the answers provided by a property to their Frequently Asked Questions (FAQ) and assists hotel staff in replying to the guest via a feature called Smart Reply. By default, Smart Reply suggests the right answer for the staff to pick and respond manually. A property can also deploy Smart Reply on auto-pilot (Smart Auto-Reply). Between Smart Reply and Smart Auto-Reply, HelloShift lets hotels choose the extent to which they want to stay authentic and high touch -- a big goal in hospitality. To deliver phenomenal guest service, hotels need Guest Messaging (to understand guest needs) and Staff Collaboration (to fulfill guest needs). Most solutions address only one or the other. HelloShift provides Staff Collaboration and Guest Messaging in one integrated platform. No more dropped tasks between separate, poorly integrated apps. This results in soaring guest satisfaction scores, with hotels reporting 56% more and 25% better TripAdvisor reviews. Read HelloShift Reviews   Roomchecking: housekeeping software room assignment automation Labor cost ranges for at least 40% of the global cost of running a hotel. Usually, a hotel will hire permanent cleaning staff for 50% of occupancy and tap into external cleaners in case of higher occupancy. Forecasting the right amount of resources needed in a super volatile environment with reservations coming in and out with all specificities (back to back, day uses, MICE) is not a simple task. If you add labor constraints (max number of rooms, balancing between stay and due out, floor and section constraint), it is easy to understand why supervisors spend so much time every day into planning daily cleaning. Every morning, supervisors (or inspectors), log into the Automatic Planner. They will immediately see all the rooms to be cleaned with ETA, ETDs, VIPs, Queues, Day Use. They make sure all cleaning staff is present and will make necessary adjustments. With all the constraints and rules already preloaded, they will click on "Create Plan" and within seconds, the best cleaning path will appear. They will be able to modify it with the mouse and submit it so cleaners can begin working.As cleaners enter rooms, set DND, delays or clean rooms, they will be able to see the progress of the plan in real-time. The automatic planner is based on constraints, not on rules. it can take geography constraints (like addresses for apartments but also buildings and towers and floors), time constraints, credits constraints and many more. Most existing products just distribute rooms with very basic rules. Read RoomChecking Reviews       Revenue Management & Big Data   The reason revenue management software companies continue to lead innovation in the hotel tech industry is two-fold.  On one hand, revenue management companies drive tangible topline gains so it's easy for hoteliers to justify investment with crystal clear ROI forecasts and easy to understand time savings.  More investment from hotels means more R&D at those firms and ultimately more innovation.  On the other, revenue management companies have access to massive datasets which means limitless opportunities to learn, iterate and grow.   IDeaS: Improved forecasting for newly renovated inventory Due to the limited available data, hotels face significant challenges when trying to accurately forecast demand and set prices by room type for newly renovated inventory. IDeaS has expanded its Limited Data Build feature in its G3 Revenue Management System (RMS) to provide a data-driven solution for hotels undergoing room renovations. Limited Data Build scientifically predicts demand for new hotel properties and, with this latest enhancement, now enables existing hotels adding newly renovated inventory to receive an immediate, precise forecast by room type. Using historical sold information and booking patterns, combined with the hotel’s sales projections, Limited Data Build enables hotel revenue managers to immediately utilize accurate data for their new room types, rather than waiting for actual data to materialize over time. This advanced functionality is a unique offering on the RMS-vendor market, allowing hotels a new opportunity to leverage accurate data insights to optimize revenue from day one of renovated room sales by room type. Read IDeaS Reviews   Pegasus: Distribution analytics connects data silos and provides actionable insight Distribution Analytics is a business intelligence platform that allows hoteliers to streamline their data analysis and save hours of administrative work needed to collate and corroborate spreadsheets. Hotel data often lives in multiple platforms, and bringing these data sets together to get a full picture of performance involves a lot of manual work — you need to download the raw data, bring it together on a spreadsheet, and then run various analyses to understand what's going on. And even then, it can be very hard to drill down and pinpoint a specific cause of any particular trend. Distribution Analytics helps solve that problem. This interactive platform brings together CRS, PMS, Channel Manager, GDS, call center and website data into one dashboard, giving hotels a 360-view of their hotel performance and allowing revenue managers to drill down into any aspect of distribution performance. The data comes in real-time, meaning that you can act quickly to identify trends that may be affecting your hotel bookings. For example, hotels can easily track historic and future pace of bookings in a standard dashboard, so you can see if you are behind from previous years. Then you can take action to remedy that situation, such as running a special offer. Or you can also drill down into geographic markets to see which ones are driving the most business, and set marketing strategies accordingly. Or as a brand, you can see how their entire portfolio is performing, or filter it by country to see how hotels in one market are performing in comparison to another market. The platform is built for flexibility and can bring in different types of data from different sources. Want to see how your Google Analytics data compares to your actual booking engine data? Our platform allows you to do that. The interactive capabilities of the platform are also quite unique; there are many ways to slice, dice, filter, and drill down into data — including geographically. The platform also includes collaborative tools so that revenue managers can annotate and share their findings within the organization. Think of it as Tableau but specifically for the hotel industry. Read Pegasus Reviews   OTA Insight: Compare different rate types within your hotel and against the competition Many of OTA Insight's clients were asking for additional Excel exporting functionalities: they wanted the ability to export specific rate types from our tool. When digging deeper, the company found out the reason behind this question, namely that users wanted to combine these different Excel exports manually to find out the changes between these different rate types. So the real problem was in fact that hoteliers needed a tool through which they could compare the different rate types of their competitors and figure out what discounting strategies their competitors apply on their BAR rates. The Compare Module allows users to compare different rate types for your own hotel, as well as your competitors, and to have a view on the average discounting strategy of each competitor. As a hotel, you choose which two data sets you want to compare. Examples include comparing mobile rates to desktop rates, comparing breakfast rates to room-only rates, comparing membership rates to public rates, and so on. OTA Insight's tool then presents the two datasets next to each other in a simple, user-friendly way, emphasising the rate changes and exposing the discounting strategies of competitors. The strength of this feature lies within its ease of use and its simplicity. Most of OTA Insight's subscribing hotels use this feature on a monthly basis, as the strategies do not change that often. They use it to gain insights into how their competitors are discounting in order to stay competitive within the market. What would you do if, for example, you found out your competitors give their members 3% off during weekdays and 5% during weekends? Would you adjust your strategy towards your members? It is by providing these strategic insights for hotels that they can stay even more competitive within their market, without them having to manually figure it all out. OTA Insight's tool provides the industry’s first comparison module that allows hotels to compare different rate types and that shows the discounting strategies of the hotel’s competitors. None of the competition has been able to offer these strategic insights in an easy-to-understand and easy-to-use way. Read OTA Insight Reviews   Pace: Inventory hierarchies ensure your brand strategy while maximizing RevPAR With demand-based dynamic pricing and automation there are instances where a hotelier wants to ensure that certain hierarchies between inventories are retained to be in-line with the property’s branding and meet customer expectations. This leads to Hoteliers being challenged with either losing out on revenue due to rigid price structures or giving into the possibility of product offerings being inconsistent with your branding and strategy. With Inventory Hierarchies, all you need to do as a hotelier is provide a hierarchy of your inventories and a minimum price buffer you would like to retain between them. Pace’s algorithm handles the rest, acknowledging these hierarchies and maximising RevPAR across your full inventory by simulating demand for countless pricing scenarios. There is a true paradigm shift with Pace’s Inventory Hierarchies as hoteliers can now setup their product offerings in a way that maintains their branding and strategy, while also allowing for the maximum RevPAR optimisation through dynamic, demand-based pricing.   Juyo: Connecting disparate data sources with constellations Today hotels have access to a wide variety of data in different systems and places. Not only extracting that data is hard but also deriving insights from it is equally hard.Constellations are connected analytics that combine different widgets and dashboards that serve a specific business purpose. The goal of constellations is to connect external and internal data sources and empower hotel users to Fastrack decision making by connecting the dots. Constellations are used daily by revenue managers, general managers, analysts and other members of the hotel commercial team. Some give high-level information like on the books data while some deep dive in Net Revenue analytics.In the example of net revenue, hotels can use the data to track net RevPAR for past and future, optimize sales and marketing budget, track campaign ROI and develop the most profitable business and channel mix. The uniqueness of constellations is that in the analytics applications spectrum there are 2 categories. On the far left, you have the tools that offer reporting and dashboards that have been predefined. These are your typical hotel BI applications that are easy to use but often luck context in how the data is modeled. On the far right, you have tools such as Tableau or PowerBI that are extremely powerful but very difficult to model the data and put something together. Juyo constellations sits exactly in the middle and offers the best of each world. Read Juyo Reviews   Profit Intelligence: Smart sales & distribution helps make sense of channel profitability in real time One of hoteliers top revenue management and distribution issues is to monitor and leverage cost of client acquisition. The complexity of sales and distribution, make almost impossible to just know what is the real NET value of a reservation. Hoteliers all know their commission percentages per travel agent, but often forget or cannot calculate other important related costs such as credit card fees, loyalty member program expense, sales team commissions etc. This problem makes their sales & distribution decisions really difficult and often results in poor decision making. Knowing these costs in real time, sliced by channel, market segment and account canbe a true strategic advantage to your hotel and help drive bottom line results (via higher GOPPAR). Hoteliers get set up with PI team support who analyze different costs of sales & distribution through a user friendly interface that guides you through the process. Each cost gets attributed to a reservation using different methods depending on the cost (Distribution key, recurring fee, period of override etc.). Profit Intelligence Smart Sales & Distribution algorithm will then calculate the cost for each past and future reservation dynamically and make predictions for future bookings. Results will be displayed in different meaningful dashboards from top level to account level. From their hotelier can know what is the exact NET value of his reservations and even check the NET value for each Travel Agent or corporate account. The easy to use DIY interface for hoteliers to set up their cost structure and visualize results make this new module unique. The chain view and chain costs management feature is also unique in that it allows hotel chains or management companies to consolidate costs from all hotels using smart mapping feature to eliminate brand specific details. Profit Intelligence   RateGain: MarketDrone provides intraday rate updates to your mobile device without running reports An average hotel in North America changes its rates 3-4 times a day. The frequency of rate changes increases as we get closer to check-in dates. In other words, hotels are constantly changing rates for existing plans and introducing new rate plans close to check-in-date to sell off their unsold inventory and maximize revenue. As such, traditional batch dependent rate shopping tools are redundant and manually triggered reports are inefficient. They are not able to capture and highlight the intra-day rate changes that happen on the go. Hoteliers are in dire need of ways to help them stay on top of these real-time changes and take action when it still matters. RateGain’s MarketDrone is a feed that automatically pushes market changes through push notifications to Revenue Managers on a device of their choice. The instant alerts give notifications to Revenue Managers or other users as soon as market changes. In other words, whenever, any competitive hotel makes a rate change, an alert is triggered to the subscribed Revenue Manager or user. This is a shift from the current experience provided by traditional rate shopping tools where Revenue Managers has to pre-schedule reports and spends a major chunk of their day looking for changes in their respective markets.  MarketDRONE tracks intra-day rate and rate plan changes by hotels in real-time and surfaces them on the go on a device of the user’s choice. It works on mobile, tablets and desktops. With MarketDRONE, Revenue Managers can be assured of staying on top of competitive landscape while they focus on what matters the most, i.e. making strategic decisions, improving business and boosting profits. Always keep an eye on market changes and keep yourself abreast of competitive landscapes on the fly. Not only can you keep an eye on market changes, but also respond to them as soon as they happen by taking corrective actions.  A Revenue Manager or any user do not have to come to the rate-shopping tool every time to know about the market changes. They do not have to run a complete report. The notifications update them on the changes. As such, they can focus on the more important strategic decisions involved in day-to-day revenue management.  With MarketDrone, revenue managers can be proactive about new promotional rate plans when nearby competitive hotels introduce them. Read RateGain Reviews   BONUS: 9+ Notable WTM London Product Launches   TrustYou launches direct response to Google and Booking in platform With this enhanced functionality, TrustYou users can now reply to the majority of all reviews directly without having to leave the platform. This development addresses a hotel’s increasing need to save valuable time and improve operations with technology. By responding directly to guest reviews received from Booking.com, Google, and TrustYou’s powered guest satisfaction surveys, hoteliers can respond on average to up to 78% of their total reviews without having to leave the TrustYou platform. Guests write reviews to be listened to and it is of great importance for businesses to reply to them. The limited capacity of many hoteliers to respond to all reviews means that there is a great need the new features addresses.Users can draft the response to a review in the TrustYou platform. Available response templates make it easier for users to address the feedback. Once submitted, the response will be pushed live to Google or Booking.com and the users do not have to leave the TrustYou platform to respond to a review for a hotel. Replying to reviews is essential in today’s sharing economy and online search-and-buy experience, as users expect their feedback and shared experiences to be valued by hotels. With these new feature enhancements, hotels can make a big impact on Booking.com and Google, where a majority of travelers start to search and book their accommodations, to actively influence a traveler’s booking decision. Actively managing the response and having a high response rate has a positive effect on the online reputation. TrustYou enables users to make this a priority, with easy response templates and that is available in different languages. Read TrustYou Reviews   hotelkit unveils its housekeeping software solution Cleanliness is one of the most important criteria for guests, which makes housekeeping a very important factor when running a hotel business. The correct deployment of personnel, the structure of workflows and ongoing monitoring are key so operations can run smoothly. In most hotels, housekeeping processes are inefficient and do not meet guest requirements. The housekeeping tool simplifies all processes within the department. The executive housekeeper or the housekeeper in charge can easily assign the rooms to the cleaning staff based on time resources and qualifications. With clear checklists, it is easy for the housekeeping supervisor to carry out inspections, thus guaranteeing a high standard of quality. Housekeeping staff is able to work neatly and efficiently with checklists. Recurring tasks make everyday jobs easier. After cleaning, the current room status is reported directly to the Property Management System, so the reception team is always up to date. The housekeeping solution lets you stay on top of traceable, paperless processes by using a PC, tablet or smartphone. Simple and fast distribution of work according to the time resources and qualifications of the employees can work wonders in terms of efficiency. Structured checklists for room cleaning and inspection ensure top quality. Thanks to real-time updates, you always have an overview of the cleaning progress. Read hotelkit Reviews   Bookboost launches a new guest messaging inbox Bookboost provides a messaging platform throughout the whole guest journey. Our new inbox makes sure the conversation with guests end up in the right inboxes. Also we provide hoteliers with AI based suggestions so during, especially, repetitive conversations they are able to automate most of those conversations while maintaining to be personal. Thirdly our new inbox delivers a cockpit view over the guests. For example it enables hoteliers to give location based suggestions for, for example, restaurants or bars, after a guests shared their location via Whatsapp. Lets say a hotelier has a reservation office and 3 receptions in 3 hotels. Our inbox routing makes sure that reservation inquiries end up in the reservation office and that if a guests talks with a brand via Whatsapp this conversation will end up at the right reception at the right hotel.Also it enables staff in the hotel to collaborate and hand over converstion to each other. For example, a guest with a room service inquiry, can be handed over to the room service team by a receptionist. There are many guest messaging solutions on the market, however our tool makes it practical for bigger organisations to make sure that the right conversation ends up at the right people in the hotel. Combining the power of a range of messaging channels, PMS systems, an advanced CRM, and AI for conversational suggestions. Enabling groups & brands to share user data & intelligence between properties while making sure the right person talks to the right person in the hotel. Read Bookboost Reviews   Net Affinity launches 12 conversion updates to their high performance booking engine templates Based on extensive research and testing (including A/B testing, exit intent and user flow studies) Net Affinity hasdeveloped 12 key updates for their desktop and mobile booking engine templates. Their mission is to significantly simplify the booking process for hotel guests – with a special emphasis on mobile experience. The purpose of Net Affinity’s booking engine is, simply, to drive more direct bookings for their clients. The updates they’ve made were informed by ongoing quarterly device data trends analysis & reports which have shown consistent increases in mobile traffic and revenue. Their most recent in-depth report shows a mobile revenue increase of 6% (from Q2 to Q3 2019). With mobile at 45%, desktop at 44% and tablet at 1%, this means mobile revenue now trumps desktop revenue. The new templates will be an automatic upgrade for all Net Affinity clients. Their booking engine will work the same.  All that changes is the experience for the user will be even better. Some of the key enhancements include: - New Searchbox which includes a new Book Direct feature sidebar and improved promo code fields. - New top panel on mobile with filters and summary - New mobile “cards” feature for roomtype scrolling - Breadcrumbs have been simplified and animated - Improved booking summary - New occupancy filter functionality - Simplied Reservation Form - UI and UX refinements" Net Affinity is seeing 2 out of 3 users visiting their client’s hotel websites on mobile which has lead them to continue releasing smart, timely product updates that fully support the mobile booking experience. Read Net Affinity Reviews   Monscierge adds image functionality to its Connect Staff product There are three main use-cases for the new images feature: 1. Overcoming language barriers between hotel staff (using pictures to describe a chair is broken in rm. 213 or that a wall socket is loose etc.) and another, 2. Collecting penalty fees from guests opting to smoke in non-smoking rooms. By combining images of a room with incurred fees with the guest room policies signed by guests during check-in, Hilton Belfast City now has an easier process to more readily service their guest rooms.) 3. Creating a new task quickly and/or without language barriers or delayed reporting by floor;or utilize a quicker flow for room turnover and use the image/photo functionality to record issues in the room. Monscierge had several clients that asked if they had considered it, because while their teams were generally using Connect Staff for most things, at times it became faster to portray an urgency or need quicker by also following up on the requests/issues pushed through the app with a separate picture taken on their phones and sent through regular text between departments. Building it into the app allows the hotels to have that same option, but to also keep it together with the other details of the room turnover as well as become permanent documentation for that room in the Connect CMS portal - hotels cannot track images and messages from text messages as easily. Therefore it cuts short the overall data accrued each year.Housekeeping, maintenance, front desk, GM, operations, concierge... any member of staff that the hotel has assigned as a user. An application for hotel staff that take into consideration images/pictures functionality to communicate quickly what an issue might be, or to use for validating front office claims when trying to recoup money quickly, is a differentiator compared to other staff products.All of this data including images, is then stored for that specific room’s history. Read Monscierge Reviews   Nonius launches a branded guest app When guests make a reservation at a given hotel, they receive an email to download the hotel’s app. After installing it, guests immediately get access to information about the hotel’s services, events, landmarks of the city and the Online Check-In. If the guests check-in online, they can go directly to their room and use the digital room key to get in. The Nonius app allows for guests to enjoy Room control over the lights and the AC, while also using their mobile device as a TV Remote Control. Guests can make requests for room service, all while keeping an eye on the bill and being able to Check-out without waiting at the front-desk. The Nonius App has unlimited integration capacity and is integrated with the main PMS players. This allows single sites and hotel groups for infinite scalability. Read Nonius Reviews   HotelTime Solutions launches a PMS with specific functionality designed for serviced apartments Recognizing that serviced apartment operations require specific features within the PMS, HotelTime has been working hard in the past two years to bring innovative tech solutions to this part of the hospitality sector. HotelTime Serviced Apartments has been developing as a specialized version of the PMS based on feedback from our customers running serviced apartments.HotelTime Service Apartment features include : - Customised set of features with some standard PMS feature tweaked or removed and specific Serviced Apartment features added, like housekeeping and maintenance tools- 2-way integration to channel managers in multi-location environment where 1 PMS connects to various channel manager endpoints due to multiple OTA listings (one per each location)- Extended reporting ‘by apartment numbers’ for operations with multiple apartment owners (to be able to report revenue to each owner)- Automated ‘room number assignment’ adjusted to allocate different apartments to spread revenue proportionally throughout the property- Extended reporting by location as well as aggregated reporting by clusters in a multi-location environment Read hoteltime Reviews   Jonas Chorum launches mobile app for it's popular cloud PMS Chorum Mobile solves the issue of guests being unable to adequately reach hotel staff or having to wait long periods of time to get assistance by communicating with the front desk via their mobile device to order services. In addition, the ability to check-in and check-out speeds up the arrival/departure times and provides a more seamless experience overall. Chorum Mobile is accessible by both the hotel staff through the software and by the guests through a mobile application. Hotel staff utilize this on a daily basis, allowing them to be untethered from the front desk and perform actions such as messaging both guests and staff members, checking guests in/out, viewing room status in real-time, and documenting maintenance items. Chorum Mobile is truly device and platform agnostic, meaning it can be used on any tablet or smartphone. Security permissions allow properties to maintain complete control over who has access to the mobile app and what functions they can utilize. In addition, Chorum Mobile leverages cloud technology to ensure all data is updated and available in real-time. Read Jonas Chorum Reviews   HotelRunner launches its third generation booking engine With HotelRunner’s third-generation Booking Engine, properties can market their property online by uploading photographs, writing room descriptions, entering the room details and amenities. They can manage their direct reservations and availabilities with ease and provide secure payment methods to their website visitors. HotelRunner provides properties a code that they copy and paste onto their website. This code links their property’s website to their HotelRunner inventory, which allows them to display their rates and availability, promotions, packages and offers in real-time. Therefore, hoteliers can easily showcase their inventory and the website visitors can book a room seamlessly. Apart from the completely customizable appearance and infrastructure, with its minimalist and effective design, the new Booking Engine will encourage potential guests to make a reservation, resulting in a boost in reservation revenues. HotelRunner’s third-generation Booking Engine is different from its competitors in many ways: Seamless real-time inventory update, completely customizable appearance, availability calendar, and packages and offers tab. The properties can set market-specific payment methods and pricing, upload 360° virtual tour photos, set all their rate types, and create campaigns seasonally, integrate virtual POS or online payment systems to provide a secure booking experience. However, the newest, the most functional and unique feature of HotelRunner’s third-generation Booking Engine is the “Recommendation” feature. With this newly-added feature, the most suitable alternative room and price option for their guests is displayed as a recommendation. Read HotelRunner Reviews   -- Did we miss an innovative launch? Let us know via live chat!  

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Revenue Management Category Press Releases

15 Tech Companies Partner to Solve the Hotel Industry’s Billion Dollar Problem

By Hotel Tech Report
4 months ago

15 technology companies have come together to create transparency for hotel technology buyers around the world.  The initiative, facilitated by Hotel Tech Report, rates hotel software vendor customer support processes on more than 30 key variables to help buyers make better partner decisions. Each year hotel owners lose billions of dollars due to software downtime and unused features.  By leveraging the new Global Support Certification, hoteliers can confidently enter new technology partnerships with transparency into the support systems that are in place to mitigate such issues.  Software inevitably goes down and great customer support is the best defense against steep losses. Hoteliers who work with Hotel Tech Report Support Certified vendors also know that those partners have invested in training materials and content to ensure that their teams have everything they need to realize successful outcomes. The certification creates accountability in the vendor community to maintain the highest levels of service for clients through an annual audit by analysts at Hotel Tech Report, the world’s largest technology research platform and online community for the global hotel industry. Leading firms such as Mews Systems, OTA Insight and IDeaS Revenue Solutions have been key supporters of this new industry standard which paves the path for better relationships between technology firms and their hotel clients. “We initially came to Hotel Tech Report with a simple concept.  Our hypothesis was that companies with great customer support would be happy to grant full transparency around their support KPIs with Hotel Tech Report and that companies with subpar support would never give that kind of access.  The team at HTR has brought that concept to life and we’re proud to give full transparency into how we engage, educate and support our customers on a global scale. Ultimately this support certification is an easy way for hoteliers to identify the companies who really treat their clients as partners - it’s a gamechanger for the industry,” says Richard Valtr, Founder of Mews Systems. Decision makers at hotel groups often spend months researching software feature functionality and pricing - but rarely are they able to develop deep insights into how the relationship changes and the level of support their team will receive once the contract is signed. “Hoteliers are constantly rated by parties like JD Power and AAA on the service they deliver to guests which ultimately helps guests find the best hotels.  With this initiative, hoteliers can now benefit from the peace of mind that comes with knowing their future vendors have not only been pre-vetted for professional customer support prior to contract lock-in but they can also easily learn about which tools and processes are most important and which one’s prospective vendors have invested in to help them succeed beyond deal close.” ~Adam Hollander, Hotel Tech Report Poor customer support is incredibly costly for both hotel software buyers and sellers.  For buyers, poor customer support from technology vendors can lead to lost revenue, poor guest satisfaction and weak ROIs on technology spend. “When a booking engine goes down hoteliers can lose thousands of dollars each minute.  What if it takes 24-hours to reach their vendor’s support team and fix the issue? Hoteliers rarely anticipate, let alone, calculate these kinds of costs when signing up with a new vendor because they’re out of sight and out of mind.  Once it happens to them they go into a panic and wish they knew ahead of time,” says Hollander. Another benefit of strong customer engagement processes is maximization of software feature functionality.  A study conducted on 3.8M software users shows that $30B is wasted each year on unused software in the U.S. alone.  Vendors that meet Hotel Tech Report’s support certification have been pre-vetted for the tools and processes necessary to ensure that hotel teams will be properly trained on all feature functionality which ultimately helps them maximize their investments in software and achieve higher ROIs on their software spend.  "45% of software features across the SaaS sector never get used. This is a huge waste. While OTA Insight's usage stats show that the intuitive features in our tools are very well used, we strive for more than just delivering software that works properly; we're committed to ensuring that clients can maximize their investments by ensuring our products and functionality are simple, intuitive and add value. With a heavy focus on customer feedback and input, this informs our ongoing product development," says James Parsons of OTA Insight. Founding members of the Support Certification rallied across the globe to bring this initiative to life.  Each founding member granted Hotel Tech Report access to their internal systems for the team to rate service delivery with its proprietary support certification framework.     Founding Members of the Global Support Certification include:  Mews Systems (Prague) IDeaS (Minneapolis) OTA Insight (London) TrustYou (Munich) Travel Tripper (New York) Hotelchamp (Amsterdam) Oaky (Amsterdam) Revinate (San Francisco) D-EDGE (Paris) Pace (London) Beekeeper (Zurich) RevControl (Eindhoven) Hotel Effectiveness (Atlanta) GuestRevu (Port Alfred) Stardekk (Brugge) The Global Support Certification is now live for hotel technology suppliers to apply for certification.  This budget season, for the first time ever, hotel tech buyers can easily vet customer support for future vendors and access support certification details right from company profiles on Hotel Tech Report. Learn more about the certification

Registration is Now Open for the 2020 HotelTechAwards

By Hotel Tech Report
6 months ago

Registration is now open for the 2020 HotelTechAwards (www.hoteltechawards.com), the industry's only data driven awards platform that recognizes best of breed hotel technology companies who win in the eyes of the judges that matter most - their customers. 2019 winners of the HotelTechAwards included top hotel technology companies such as TravelClick, Beekeeper, Screen Pilot, Atomize and Oaky. New York based ALICE won "The Best Places to Work in Hotel Tech" edging out runner up Mews Systems (10 Best Places to Work in Hotel Tech). "Revenue generation and operations have become very complex for hotels, threatening profitability and detracting from the customer experience. The answer lies in innovative technology solutions, which can disrupt the disruptors. The HotelTechAwards recognize these technologies and their beneficial impact on the future of our industry." says Marc Heyneker, CEO at Revinate, one of the hotel tech industry's most recognized brands and 2019’s top rated Hotel CRM. Companies are competing for category leadership across marketing, revenue management, guest experience, operations and sales technology. Hotel technology companies ranging from hardware to software and service businesses like digital marketing agencies are eligible for nomination. More than 40 companies around the world have already pre-registered for the competition. Registration closes on September 1st. Voting will take place through December 31, 2019 and winners of the 2020 HotelTechAwards will be announced on January 15, 2020. "As a former hotelier there was ultimately one thing my team wanted to know about prospective technology partners," says Jordan Hollander, co-founder of Hotel Tech Report. "We wanted to know what other hoteliers like us thought about the service providers, that they were tried and true and that the company could deliver on their sales promises. The HotelTechAwards were designed to do exactly that - they help hoteliers see what people like them honestly think about products and services to help them make better decisions for their properties." Learn more about the HotelTechAwards and register now at www.hoteltechawards.com

HotelIQ Named 2018’s Top Rated Business Intelligence Software in the HotelTechAwards

By Hotel Tech Report
6 months ago

February 12, 2018 -  Hotel Tech Report has named HotelIQ 2018’s top rated Hotel Business Intelligence Software  based on data from thousands of hoteliers in more than 40 countries around the world.  Over 100 of the world’s elite hotel technology products competed for a chance to win this prestigious title. The HotelTechAwards platform (by HotelTechReport.com) leverages real customer data to determine best of breed products that help hoteliers grow their bottom lines. “There’s a saying in Silicon Valley that if you can’t measure it, you can’t fix it.  HotelIQ is a leader in the Business Intelligence category that is more important for hoteliers in today’s competitive market than it’s ever been in history.  We are living in a data driven world, but without the right tools it’s almost impossible to effectively interpret that data and tweak strategic decisions in real time.  Business Intelligence is a must have for any hotel who wants to maximize their topline through Sales, Marketing, Distribution and Revenue Management and HotelIQ is leading the charge with its best of breed product,” says Hotel Tech Report’s Jordan Hollander. HotelIQ is poised for sustained growth in 2018. Hoteliers have recognized HotelIQ’s truly world class ease of use, depth, multidimensionality, dynamism and design capabilities where HotelIQ has exceeded the category average by more than 8% and received a perfect score of 100 out of 100. One Orange County California based General Manager describes their experience with HotelIQ’s business intelligence software, “The platform is incredibly intuitive and with the first use I was able to access my data at an extremely granular level with only a few clicks. A San Francisco based SVP Sales & Marketing says “HotelIQ Business Intelligence software is one of the most revolutionary products to come our way in some time. It has helped a number of our hotels maximize performance by providing quick and immediate insight. You will be amazed at how easy and intuitive it is, and how much it will help your hotel drive top-line revenue.” To read the full review and more, head to HotelIQ's profile on Hotel Tech Report

Revenue Management Category Overview

Revenue management has made great strides in recent years. The transition to cloud-based systems built flexibility into the software development process, accelerating the pace of new features. The shorter cycles allow the software to more accurately meet the evolving needs of hoteliers. This is a relief to many hoteliers with less-than-pleasant memories of the shackles of frozen legacy technology.

A review of today’s revenue management technology highlights just how far the industry has come in fulfilling a vision of connected revenue management systems that use data to dynamically price room inventory. Real-time, data-driven intelligence now comes standard in the industry-leading tools.  

An agile approach to releasing new features is also a requirement. As the industry experiments with new ways to sell its inventory, such as attribute-based selling, the best revenue management software anticipate change, test features, and deliver on the promise of true revenue optimization.

Even so, only 1 in 10 hotels deploys some level of revenue management software, due largely to the complexity of practicing proper revenue management. A comprehensive approach to revenue management generally includes a solution from each of the following categories: CRS, RMS, rate shopper, and business intelligence. Some solutions offer more of a one-stop-shop, while others overlap.

Whether you choose to stick with one multi-purpose solution or craft a bespoke tech stack, be sure to prioritize agility, flexibility, and extensibility. You want a vendor that keeps ahead of the trends, while also offering a flexible product that can be customized to your needs through flexible implementation and extensible integrations.

With that in mind, here are some of the key categories that you should be leveraging to optimize revenue management at your hotel.


Revenue management software automates the process of using analytics -- mainly supply and demand -- to determine the right price for hotel rooms to maximize revenue and profitability. The primary goal is to sell the right product to the right customer at the right time for the right price on the right channel. Revenue management software ingests historical and market data, combines this with forward-looking demand signals and recommends a rate for each segment and room type at your hotel, specific for each channel on which you are selling. Recently, modern software has moved from on-premise to cloud-based applications that are delivered as Software-as-a-Service, meaning multiple users can login to the applications from anywhere they have an Internet connection.

Key Features:
  • Integrations - It’s important that your RMS integrates with your PMS, CRS, CRM and booking engine with a reliable, two-way connection so that the systems can share the right data.
  • Open Pricing - Your RMS must be able to price room types and channels independently of each other, rather than in lockstep with a set BAR price. For example, on some days you want your AAA rate to be 10% less than BAR, on other days you may want it 1% less than BAR.
  • Cloud technology - An RMS that runs on multi-tenant cloud architecture allows your systems to integrate and share data more seamlessly, and allows developers to push updates to your software in real time. No more purchasing new versions of software just to get the latest features.  
  • Intelligent reporting - It’s important that your RMS be able to build, export and share your most critical reports. Revenue teams must be able to share reports at the push of a button with management, ownership and other departments within the hotel.
  • Data Visualization - A good RMS not only presents your data in tabular reports, but allows you to visual your data and reports in graphical form. This allows revenue teams to better understand trends, outliers and patterns in data.

Key Players:

Market intelligence tools help hoteliers make more informed decisions on pricing and revenue strategies. Previously manual processes, such as monitoring competitors’ rates, managing your own property’s (or properties’) rate parity across multiple channels, predicting your competitors’ demand, pulling local event and weather data, etc. are now fully automated. For those who operate a broader portfolio, the time savings is multiplied for each property under management.

Key Players:

A central reservation system (CRS) is a platform used by hotels to centrally manage and distribute room inventory, rates, and reservations. The CRS typically receives inventory from the PMS, then distributes rates and availability in real-time to direct and third-party channels, including the hotel’s own website booking engine and call center (direct channels), as well as channel managers, OTAs, GDS, and metasearch (third-party channels). Reservations from these channels are sent back to the CRS and subsequently synced into the PMS for room allocation. Hotel revenue managers and marketing/e-commerce managers use the CRS to create various promotions and offers through rate plans for different channels and to adjust pricing quickly to be updated across all channels. Reservation agents also work in the CRS to manage reservations.

Key Features:
  • Integrations and distribution: channels The CRS should integrate seamlessly with your existing PMS and allow your hotel to distribute rates and availability through a wide network of channels, including direct channels (website, call center) and third-party channels (OTAs, GDS, metasearch). 
  • Pricing capabilities and flexibility: Every good revenue manager needs a good toolset. Your CRS partner should offer dynamic pricing tools that will give your hotel enormous flexibility when it comes to executing complex revenue strategies. Also consider whether integrations between your revenue management, merchandising, and CRM platforms with the CRS would help to increase operational efficiency (e.g. being able to automate pricing from an RMS, being able to enter rates only once within a backend, etc.) 
  • Booking engine / e-commerce platform: A huge deciding factor for many hotels is the quality of the CRS’s booking engine, which should offer conversion optimization features to encourage direct bookings. Key features include the ability to showcase strikethrough pricing, social proof, scarcity messaging, and incremental pricing, among others. 
  • Support and account management: A good CRS partner should not only provide round-the-clock technical support, but should also have active account management focused on customer success. Client services should include performance reviews with detailed analytics and reporting, as well as advice on revenue and pricing strategies. 
  • Innovation: Your CRS partner should always be seeking to enhance features, support the latest technology trends, and evolve the platform to fit the needs of today’s hotel.

Key Players:

Business Intelligence tools are designed exclusively for analysis; to provide fast and widespread access to accurate information and insight. Through dashboards, reports and analytics. users can explore their business – both historical performance and future activity. BI automates reporting, turning report producers into information consumers who can in turn analyze and apply their findings to influence business results. Business Intelligence is about gathering data from a variety of sources and then utilizing technology to serve information to decision-makers in ways that help them to understand where opportunities exist within their business.

Key Features:
  • Cloud Infrastructure: Ease of access to BI across devices. No expensive, lengthy implementation or physical on-site installation. 
  • Depth of Information: Ability to not only view statistics/figures, but to dive deeper into the data and understand what’s impacting those results. 
  • Data Management: Ability to manage & clean data to maintain data & reporting quality and accuracy. 
  • Forecast & Budget Support: Forecasting/Budgeting at the most granular level allows hotels to measure their performance on an ongoing basis to achieve their goals. 
  • Enterprise Level Reporting: Allowing users to view performance of multiple hotels using unified standards makes for easier reporting at an area or portfolio level.

Key Players:

A channel manager is a technology that allows a hotel to expand its reach and visibility online, as well as more easily manage its rates, availability, and reservations. With a channel manager, hotels can access hundreds of online distribution channels and connect to as many as they like at the same time. Hotels can list all of their rooms and availability on all channels and the channel manager will update these automatically and in real-time when a booking is made, thanks to a pooled inventory model. This allows the hotel to maximize occupancy and reservations with minimal risk of being overbooked.

Key Features:
  • Supports your existing booking sites and has a large network: Hoteliers will want to make sure their preferred channels are supported by the channel manager they plan to invest in. Additionally, it’s important the hotel has the opportunity to connect with many new booking sites, in new markets, to grow business and revenue. It’s important the hotel can have the opportunity to connect with many new booking sites, in new markets, to grow business and revenue. 
  • Deep system integrations: The channel manager should be able to integrate with existing systems such as the PMS, RMS, and CRS, and ensure seamless, two-way reservation delivery. 
  • Simple and effective reporting: To manage revenue properly, the channel manager needs to provide the hotelier with a clear view on channel performance for as many channels as the hotel is connected to. 
  • Pooled inventory: It’s vital that the channel manager operates on a pooled inventory model, to minimize overbooking and maximize the room sales. 
  • Real-time channel management: Manage room inventory, availability and rate plans across all channels through a simple user interface, in real-time.

Key Players: