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Understanding Titans of the Hotel Industry Throughout History

by
Hotel Tech Report
1 day ago

What would the hotel industry be without chain hotels? Can you imagine a world without online travel agencies like Expedia? Or what about a world without Airbnb? A few exceptional individuals made contributions to the lodging industry which revolutionized not only our industry, but the world. Thanks to the ideas, leadership, and drive of the 7 titans of the hotel industry, we can travel better today. In this article, we’ll introduce you to seven of the most important figures in the hotel business: Conrad Hilton, J. Willard Marriott, Isadore Sharp, Jay Pritzker, Barry Sternlicht, Brian Chesky, and Rich Barton. You’ll learn about their backgrounds, their career paths, the companies they founded, and how they fit into the evolution of the hotel industry. And you might find the inspiration you need to bring your ideas to life or to start your own company!   The Early Days of the Hotel Industry The concept of a hotel is hardly a new one; boarding houses, inns, caravanserais, and other early lodging types have been in existence for thousands of years. These simple accommodations offered travelers a place to sleep, a hot meal, and stables for their horses. Early “hotels” were family-run and often located in the same building where the family lived. As travel became more common, starting in the 1400s, a few European countries mandated that hotels document their guests. These new laws signaled the beginning of the hotel industry - hoteliers were now running legitimate businesses in the eyes of the local governments. By the 1700s, every city had at least several hotels operating in the center of town to meet the demand for overnight stays. Many hotels became attractions in their own right, like the Le Grand Hôtel Paris and Palmer House Hotel in Chicago, which were famous for beautiful architecture and glamorous clientele.   The Hotel Industry Boom in the United States Until the mid-1900s, nearly all hotels were independently owned and operated. There was also a clear distinction between the stylish, cosmopolitan hotels in city centers and the simple roadside motels in rural areas. Two entrepreneurs on opposite sides of the country saw opportunities to bring a high standard of service to the hotel industry and created the eponymous names that we all know today: Conrad Hilton and J. Willard Marriott. Conrad Hilton entered the hotel industry somewhat accidentally when his plan to purchase a bank fell through; instead, he ended up buying the Mobley Hotel in Cisco, Texas in 1919. Seeing that he could run a hotel successfully, Hilton scouted out promising hotel deals and continued growing his portfolio over the next few decades. Landmark hotels like New York City’s Waldorf-Astoria and the Plaza Hotel became Hilton properties, and the company acquired the Statler Hotel Company in what was the largest real estate transaction of its time. Hilton is not only credited with building a global hotel empire, but also with popularizing the star rating system and combining hotels, restaurants, and casinos. Like Hilton, J. Willard Marriott didn’t plan on becoming a hotel magnate. He got his start in the hospitality business by running A&W Root Beer shops in the Washington, D.C. area, and built a sizable restaurant and foodservice business. When it came time for his next venture, Marriott opened a motel in Arlington, Virginia with great results. Marriott became known for his hands-on leadership style and perfectionist mindset, and as the Marriott company grew, he continued to stay in the middle of the action. In fact, he never retired from Marriott, even after his son Bill took over as CEO. Under their leadership, Marriott became the largest hotel company in the world with over 30 brands under its umbrella. In addition to Hilton and Marriott, numerous hotel brands popped up in the mid-20th century, like Holiday Inn and Motel 6. These brands could offer quality and consistency to travelers who didn’t want to risk a sub-par experience at an independent property. Remember, back then, there was no Tripadvisor, so brands offered an appealing solution.   The Rise of Hotel Brands Speaking of brands, Marriott and Hilton are only two of the great hotel brands that shaped the industry. While Hilton and Marriott were building their companies, another entrepreneur saw an opportunity to create a new type of hotel: Jay Pritzker. Already an established businessman, Pritzker was on a business trip to Los Angeles in 1957 when he noticed a lack of high-quality hotels located near airports. He didn’t think travelers should have to choose between nice downtown hotels and seedy airport motels, so he launched the Hyatt brand, which focused on upscale hotels near airports. Hyatt Hotels eventually branched out to urban hotels, notably when the company launched the Hyatt Regency brand, which is known for its signature atrium design. But Pritzker wasn’t the only one to realize that architecture can be an asset to a hotel brand; as a trained builder, Isadore Sharp knew architecture would always be a pillar of his Four Seasons hotel brand. He opened the first Four Seasons hotel in Toronto in 1961, and guests appreciated the innovative courtyard design that allowed them some relief from city sights and noise. Sharp grew the Four Seasons brand to become a globally known icon of service and luxury, and the company now manages over 100 hotels in cities like Paris and far-flung destinations like Bora Bora. Sharp wasn’t alone in grabbing an opportunity to appeal to affluent travelers. Barry Sternlicht, the founder of Starwood Capital and Starwood Hotels and Resorts, also noticed a gap in the luxury hotel market when he launched the W brand in 1998. In contrast to the pretentious, stuffy luxury hotels that were the norm, W hotels offered a playful, youthful version of luxury. The W brand is considered the first “lifestyle” hotel brand, a trend which is still popular today. Starwood Hotels and Resorts’ portfolio also included brands like Westin and Sheraton, and in 2016 Marriott purchased Starwood and formed the largest hotel company in the world.   Lodging in the Digital Age By the 1990s, hotels had taken over the world. You could book a Marriott or Four Seasons on six continents and dozens of countries. But how would you actually make that booking? Most travelers relied on travel agents to secure reservations, or you could call the 1-800 number for a chain line Hilton or Hyatt. That all changed when Rich Barton, a product manager at Microsoft, came up with the idea for Expedia in 1994. He saw how the power of the internet could put travel booking into the travelers hands - he just had to create a platform to house all the data. By the time Expedia went public in 1999, it was far from the only digital booking platform, or online travel agency. Competitors like Booking.com, Priceline, Orbitz, and Travelocity gave consumers access to good rates and information about hotels around the globe. The popularity of brick-and-mortar travel agencies declined as online travel agencies took off. Two decades later, the OTA space is dominated by two big players who now own the majority of brands: Expedia Group and Booking Holdings. But Expedia and Booking.com aren’t the only sites where you can book a place to stay. In fact, hotels are no longer your only option. Just as Uber disrupted the taxi industry, Airbnb offers a new type of accommodation for travelers seeing local experiences or apartment-style short-term rentals. Founded by Brian Chesky in 2009, Airbnb has come a long way from its humble beginnings. Chesky and his two roommates had the idea to rent out a few air mattresses in their apartment during a busy conference in San Francisco, and a few years later their company became a Silicon Valley “unicorn” with a valuation over $1B. Airbnb has grown to over six million listings and is planning an IPO in late 2020. What can we expect for the future of the hotel industry? The industry’s pioneers are probably already hard at work building something that will further change how we travel and experience hospitality.   -- Brian Chesky illustration by mikenudelman.com

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Beonprice Achieves Level I Global Support Certification

by
Hotel Tech Report
5 days ago

This week, Beonprice earned Hotel Tech Report’s level I Global Customer Support Certification (GCSC) for its investments into tools, processes and strategies to ensure the ongoing success of its customers across the four of the key pillars of the GCSC Rubric including: pre-emptive support, reactive support, coaching and customer validation. The Hotel Tech Report GCSC certification program analyzes software vendors along critical dimensions of customer support infrastructure in order to help hoteliers minimize risk and maximize positive outcomes when selecting technology partners.  In order to become certified, companies must open their internal systems to Hotel Tech Report for assessment along HTR’s rigorous 34-point GCSC Rubric. “Beonprice has taken a really integrated approach to support where instead of a traditional knowledge base that customers have to search through, relevant content is embedded in a slide out modal throughout the application serving as a useful sidekick for users.  Customers can then reach the team within that same view with embedded context meaning their customers, product and support team are always in sync.,” Hotel Tech Report co-founder Adam Hollander. "In Beonprice we do not just want to provide world leading technology to hotels, but offer long term partnership with our customers. We are only happy if our customers are also happy." Ruben Sanchez, CEO @ Beonprice The below GCSC assessment outlines the verified systems and processes that Beonprice has in place to educate, train, retain and support customers. Beonprice's GCSC Assessment Summary  Rubric Score: 24/34 Certification Level: I Customer Orientation: Customer Minded Recommendation: Recommended Support Team Size: 10 Support Team Leaders: Neville Isaac - Chief Customer Officer Certification Period: September 7, 2020-September 7, 2021 Support Stack: Odoo, Google Drive, Thinkific   GCSC Support Rubric Section I: Pre-Emptive Support  The Pre-Emptive support pillar of the GSCG Scoring Rubric audits the tools and processes the vendor has in place to provide customers with easy access to self-help resources.  These self-help resources serve as a basis to offer easy troubleshooting as well as to preempt answers to product related questions before they arise providing a more intuitive and seamless experience for clients.  The following are the rubric items that Hotel Tech Report has verified that Beonprice has in place for clients: 1.1 Online knowledge base/help center: Vendor offers a searchable help center for customers to easily find answers to common customer questions. 2.1 Online training videos: Vendor offers pre-recorded videos that clients can access 24/7 for self-teaching and deeper product knowledge. 3.2 Tooltips: Vendor offers helpful tips and hints presented when users hover over buttons and UI elements in the interface. (min of 10 in-app tooltips) 4.1 Implementation documentation/roadmap: Vendor offers clients a visual map of the steps, processes and stakeholders upon onboarding to ensure that all stakeholders are aligned to make the implementation process more seamless. 4.2 Proprietary data recommendations: Vendor aggregates product usage data across clients to benchmark performance and provide recommendations to their users to help them learn about best practices, make better decisions and maximize product utilization. GCSC Support Rubric Section II: Reactive Support  The Reactive Support Pillar assesses the company's responsiveness to clients and their ability to resolve issues quickly when they arise ensuring prompt response and service to clients.  The following are the rubric items that Hotel Tech Report has verified that Beonprice has in place for clients: 1.2 Transparent process: Vendor has opened up their systems to Hotel Tech Report via screen share to verify their tools and processes in place to deliver customer support. 1.3 Email support or phone support: Vendor at least one of the traditional methods of customer support channels, email or phone support (additional channels: phone, chat, email) 1.4 Multi-lingual support: Vendor offers support in the languages where they have active clients (English and Spanish) 1.5 Purpose built support and ticket management tool: Vendor utilizes professional customer support software that has functionality to effectively manage support tickets, followup, escalations and analytics. 3.3 Contract SLAs: Vendor has service level agreement (SLA) terms in place in client contracts to guarantee that service levels are upheld. 4.4 24/7 support availability: Vendor offers 24/7 support to clients for around the clock assistance. 4.5 Verified Contract SLA monitoring: Vendor has SLA terms fully integrated into their customer support software that has automatic notifications ensuring that SLA's are monitored and upheld.   GCSC Support Rubric Section III: Customer Success & Coaching While keeping customers happy is commonly thought of by software companies as the top priority, keeping them well informed is of equal importance. The third pillar of the GCSC Rubric identifies the key ways that vendors inform, educate and train their customers to realize successful outcomes with their products.  The following are the rubric items that Hotel Tech Report has verified that Beonprice has in place for clients: 1.7 Customer satisfaction monitoring (ex. NPS surveys, CSAT): Vendor has processes in place to regularly monitor customer satisfaction. 2.4 Quarterly success check ins: Vendor offers [at least] quarterly customer success check ins to review progress, share best practices and ensure that clients are successful and happy with the product or service. 3.6 Performance reporting: Vendor offers reporting and analytics to show clients the value of the product or service. 3.4 Managed Services: Vendor offers additional consulting and managed services to help clients maximize their usage of the product. 4.6 Learning Management System (LMS): Vendo has a Learning Management System in place that offers videos, guided training and assessments for customers to be able to expand product knowledge in a structured way over time. 4.7 Product certifications: Vendor offers certifications which allow users to have a structured path to becoming a product expert which can be leveraged in their career to strengthen their resume. 4.8 Online community: Vendor offers an online community for customers that allows users to engage with each other as well as targeted content in a contextualized setting to enable self-service discovery and problem solving. 4.9 Dedicated customer success monitoring software: Vendor utilizes dedicated customer success software to monitor product usage and coach users to succeed with the product. 4.10 Customer conference: Vendor produces an in-person or online user conference to build a community, share product updates and educate users on best practices. GCSC Support Rubric Section IV: Customer Validation The GCSC’s 34-point rubric and Hotel Tech Report’s verification of internal tools and processes validate the vendor's systems in place; however, the validation of the success of these tools and processes can most significantly be validated by the unbiased perspectives of real hotelier customers.  This pillar looks at unbiased verified client reviews and satisfaction scores to validate that the processes in place are working in the eyes of customers based on their satisfaction ratings.  The following are the rubric items that Hotel Tech Report has verified that Beonprice has in place for clients: 2.6 Public Feedback Validation: Vendor shows exemplary client relationships and is a top performer on Hotel Tech Report with more than 28 verified client reviews. 4.12 4.9 avg. customer support rating: Vendor has outstanding customer support ratings averaging more than 4.9/5 across all client reviews. 4.13 Vendor Confidence: The vendor has revealed their private internal customer satisfaction scores to Hotel Tech Report showing high degrees of confidence in their support infrastructure and outcomes which can be a strong indicator of transparency and positive vendor-client relationships.   About the Hotel Tech Report Global Customer Support Certification (GCSC) Support is one of the most critical aspects of the vendor selection process and yet historically there has never been a way to know the quality of a company’s support, until now. Using Hotel Tech Report’s proprietary framework, companies are assessed along four key dimensions: pre-emptive support, reactive support, coaching/success and client validation to provide hoteliers unprecedented levels of transparency to more easily identify top technology partners.   For more information please visit: https://partners.hoteltechreport.com/global-support-certification/

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

by
Hotel Tech Report
2 weeks ago

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

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Juyo Analytics Achieves Level II Global Support Certification

by
Hotel Tech Report
2 weeks ago

This week, Juyo Analytics earned Hotel Tech Report’s level II Global Customer Support Certification (GCSC) for its investments into tools, processes and strategies to ensure the ongoing success of its customers across the four of the key pillars of the GCSC Rubric including: pre-emptive support, reactive support, coaching and customer validation. The Hotel Tech Report GCSC certification program analyzes software vendors along critical dimensions of customer support infrastructure in order to help hoteliers minimize risk and maximize positive outcomes when selecting technology partners.  In order to become certified, companies must open their internal systems to Hotel Tech Report for assessment along HTR’s rigorous 34-point GCSC Rubric. “What’s really unique about Juyo’s infrastructure to help customers succeed is having an online community for users to interact with the Juyo team as well as each other to answer questions, share best practices and give product tips. The team is also hyper focused not just product training but also ongoing education to help their clients grow into their roles via continuing education through video content and strategy calls for clients.” Hotel Tech Report co-founder Adam Hollander. "Our approach in customer support is deeply rooted in empathy. At the very core the team of Juyo is hoteliers. We all deeply understand the hotelier’s day to day life, and we act as a sparring partner to accompany them in their success.." Vassilis Syropoulos, CEO @ Juyo Analytics The below GCSC assessment outlines the verified systems and processes that Juyo Analytics has in place to educate, train, retain and support customers.   Juyo Analytics's GCSC Assessment Summary  Rubric Score: 26/34 Certification Level: II Customer Orientation: Customer Focused Recommendation: Recommended Support Team Size: 4 Support Team Leaders: Karin van Rhee, VP of Customer Success Certification Period: August 2020-August 2021 Support Stack: Freshdesk, Squarespace, Trello, Google Drive     GCSC Support Rubric Section I: Pre-Emptive Support  The Pre-Emptive support pillar of the GSCG Scoring Rubric audits the tools and processes the vendor has in place to provide customers with easy access to self-help resources.  These self-help resources serve as a basis to offer easy troubleshooting as well as to preempt answers to product related questions before they arise providing a more intuitive and seamless experience for clients.  The following are the rubric items that Hotel Tech Report has verified that Juyo Analytics has in place for clients: 1.1 Online knowledge base/help center: Vendor offers a searchable help center for customers to easily find answers to common customer questions. 2.1 Online training videos: Vendor offers pre-recorded videos that clients can access 24/7 for self-teaching and deeper product knowledge. 3.2 Tooltips: Vendor offers helpful tips and hints presented when users hover over buttons and UI elements in the interface. (min of 10 in-app tooltips) 4.1 Implementation documentation/roadmap: Vendor offers clients a visual map of the steps, processes and stakeholders upon onboarding to ensure that all stakeholders are aligned to make the implementation process more seamless.   GCSC Support Rubric Section II: Reactive Support  The Reactive Support Pillar assesses the company's responsiveness to clients and their ability to resolve issues quickly when they arise ensuring prompt response and service to clients.  The following are the rubric items that Hotel Tech Report has verified that Juyo Analytics has in place for clients: 1.2 Transparent process: Vendor has opened up their systems to Hotel Tech Report via screen share to verify their tools and processes in place to deliver customer support. 1.3 Email support or phone support: Vendor at least one of the traditional methods of customer support channels, email or phone support (additional channels: phone, chat, email) 1.4 Multi-lingual support: Vendor offers support in the languages where they have active clients (English, French, Dutch, German, Romanian, Spanish)  1.5 Purpose built support and ticket management tool: Vendor utilizes professional customer support software that has functionality to effectively manage support tickets, followup, escalations and analytics. 2.2 Live Chat support: Vendor offers website or in-app live chat as an alternative customer support channel. 3.3 Contract SLAs: Vendor has service level agreement (SLA) terms in place in client contracts to guarantee that service levels are upheld. 3.5 Feature request tracking: Vendor offers the ability for clients to easily submit feature requests and has a methodology in place for escalating high priority features. 4.5 Verified Contract SLA monitoring: Vendor has SLA terms fully integrated into their customer support software that has automatic notifications ensuring that SLA's are monitored and upheld.   GCSC Support Rubric Section III: Customer Success & Coaching While keeping customers happy is commonly thought of by software companies as the top priority, keeping them well informed is of equal importance. The third pillar of the GCSC Rubric identifies the key ways that vendors inform, educate and train their customers to realize successful outcomes with their products.  The following are the rubric items that Hotel Tech Report has verified that Juyo Analytics has in place for clients: 1.7 Customer satisfaction monitoring (ex. NPS surveys, CSAT): Vendor has processes in place to regularly monitor customer satisfaction. 2.3 Product updates/changes (release notes/changelog): Vendor offers easily accessible robust documentation of feature updates and product improvements to educate clients on new ways to maximize usage of the product. 2.4 Quarterly success check ins: Vendor offers [at least] quarterly customer success check ins to review progress, share best practices and ensure that clients are successful and happy with the product or service. 3.6 Performance reporting: Vendor offers reporting and analytics to show clients the value of the product or service. 3.4 Managed Services: Vendor offers additional consulting and managed services to help clients maximize their usage of the product. 4.8 Online community: Vendor offers and online community for customers that allows users to engage with each other as well as targeted content in a contextualized setting to enable self-service discovery and problem solving.   GCSC Support Rubric Section IV: Customer Validation The GCSC’s 34-point rubric and Hotel Tech Report’s verification of internal tools and processes validate the vendor's systems in place; however, the validation of the success of these tools and processes can most significantly be validated by the unbiased perspectives of real hotelier customers.  This pillar looks at unbiased verified client reviews and satisfaction scores to validate that the processes in place are working in the eyes of customers based on their satisfaction ratings.  The following are the rubric items that Hotel Tech Report has verified that Juyo Analytics has in place for clients: 2.6 Public Feedback Validation: Vendor shows strong client relationships on Hotel Tech Report with more than 26 verified client reviews. 4.12 4.5+ avg. customer support rating: Vendor has outstanding customer support ratings averaging more than 4.5/5 across all client reviews. 4.13 Vendor Confidence: The vendor has revealed their private internal customer satisfaction scores to Hotel Tech Report showing high degrees of confidence in their support infrastructure and outcomes which can be a strong indicator of transparency and positive vendor-client relationships.   About the Hotel Tech Report Global Customer Support Certification (GCSC) Support is one of the most critical aspects of the vendor selection process and yet historically there has never been a way to know the quality of a company’s support, until now. Using Hotel Tech Report’s proprietary framework, companies are assessed along four key dimensions: pre-emptive support, reactive support, coaching/success and client validation to provide hoteliers unprecedented levels of transparency to more easily identify top technology partners. For more information please visit: https://partners.hoteltechreport.com/global-support-certification/

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Hotel Management: A Complete Industry Overview

by
Hotel Tech Report
3 weeks ago

Did you know that big hotel companies like Hilton and Marriott usually don’t manage their own hotels? It's ok if you didn't.  The structure of hotel management companies and the broader hospitality industry is dramatically different than most industries and most employees within the industry don't fully understand how it all works.  Fear not, after reading this article you'll be an expert in no time. So what do we mean when we say that 'companies in the hospitality industry are structured differently than most other sectors'? An individual property might be owned by one party, be managed by another, and carry the brand flag of a third company - but these relationships are kept behind the scenes. This article is not meant to be advanced so we're going to leave out other stakeholders like debt holders, asset managers and special servicers (you're welcome!). Most travelers will never even know that the front desk agent who checks them into a Hilton Garden Inn does not actually work for Hilton Worldwide! How can this be? The world of hotel management is complex, so in this article we’ll break down the key components of this facet of the industry. We’ll dive into what exactly hotel management companies do, how they make money, and who the major players are. By the end of the article, you’ll have a solid understanding of the hotel management landscape - whether you want to start your own hotel management company, partner with one, or begin a career working for one.   Pictured: The James New York Nomad, a Highgate-managed hotel   Defining the Hotel Operations Landscape: Owners, Franchisors, and Management Companies Running a hotel is no easy task, and to do it well, you need a diverse variety of skills and resources. To maximize performance, profitability, and the owner’s preferences, many hotels use various entities to manage different operational aspects. Hotels generally fall into one of four ownership categories: Privately owned and operated: For the owner, this model requires the most hands-on hotel operational work. At privately owned and operated hotels, the owner takes the lead on all aspects of the business: hiring staff, maintaining the physical asset, running a hotel marketing strategy, and more. The owner could be an individual or an ownership group. Leased: Unlike at privately owned and operated hotels, the owners of leased hotels lease the physical asset to a different company who handles all aspects of the operation. The owner simply collects rent for the building and has no involvement in the hotel side. Franchised: Owners who want a more hands-on approach and don’t want to turn their physical asset over to someone else to operate might opt for the franchise model. Franchisors sign agreements with hotel brands for access to benefits (or limitations, depending on how you look at them) like brand standards, marketing power, reservation systems, and design guidelines. Franchisors often run the day-to-day operations themselves, like hiring employees and handling payroll, and they pay a franchise fee to the brand. Popular hotel brand franchises include Hampton, Holiday Inn Express, and Red Roof Inn. Managed: At a managed hotel, the hotel owner signs a contract with a management company to take operational responsibilities off their plate. Unlike the franchise model, the management company handles everything related to day-to-day operations - even staffing, payroll, and marketing. Some managed hotels are branded, and the management company is then responsible for upholding brand standards. The owner typically signs the contract with the brand, though owners often include their management company in rebranding discussions. These management companies focus on growing RevPAR, NOI and EBITDA as they are paid a % of revenue and often receive bonuses based on hotel profitability.  'Corporate' hoteliers tend to focus on more analytical tasks like SWOT Analysis and setting SMART Goals while 'on property' workers focus on tactics, day-to-day management and service delivery.   Pictured: Carneros Resort & Spa, managed by Aimbridge Hospitality   Many hotels across the world have separate ownership and management entities in order to maximize the effectiveness of both components. Owners can focus on the real estate piece while management companies focus on the day-to-day operations.   What Benefits Does a Hotel Management Company Provide? We’ve established that management companies run hotels on behalf of the owner, but what exactly does that mean? What do hotel management companies do? Depending on the specifics of the property, a hotel management company can: Hire employees and handle payroll via a platform like Hcareers Run all operational departments, like front office, housekeeping, sales, and food and beverage Manage relationships and billing with vendors Adjust room rates and run promotions Perform preventive maintenance on the property and recommend capital expenditures Develop budgets and produce financial reports for owners Curate the hotel’s online presence (reviews, social media) and implement marketing strategies In some cases, coordinate renovations or expansions If the hotel is branded, then some of these responsibilities are handled by the brand. Brands typically provide marketing support, on-property technology for staff and guests, and guidelines for furnishings and decor.    Pictured: AC by Marriott Seattle, managed by Crescent Hotels & Resorts   Regardless of brand affiliation, the management company is usually not involved in major decisions about the physical asset. The hotel owner or ownership group (often a real estate investment group) decides when to buy or sell properties. While owners pay hotel management companies for their services, using hotel management companies can save money in the long term. Hotel management companies are experts at hotel operations so they can often run daily operations more efficiently than private owner/managers - especially if the owner has little hotel industry experience.   How Do Hotel Management Companies Make Money? As a hotel owner, one of the most important points of discussion when negotiating a contract with a management company is the fee structure. Hotel management companies make money in a few ways: an incentive fee, a base fee, and/or a percentage of gross revenue. Depending on the type of hotel, the services the management company provides, and the owner’s goals, the management company fee structure can vary greatly from property to property. When hotel management companies receive compensation that reflects the property’s performance, they have a vested interest in running the hotel at maximum efficiency.   Pictured: Hilton Atlanta Airport, managed by HEI Hotels & Resorts   Top 10 Hotel Management Companies There’s no “typical” hotel management company; you can find management companies that specialize in certain brands, certain types of hotels, and certain geographic areas. Some management companies operate a handful of hotels; some operate hundreds. Let’s explore the top ten management companies in the United States in terms of number of guestrooms managed (guestroom and property counts in the US, source): The largest hotel management company in the US is Plano, TX-based Aimbridge Hospitality, with a whopping 182,000+ guestrooms and 1,400+ hotels in their portfolio. Aimbridge merged with the former second-largest hotel management company, Interstate Hotels & Resorts, in 2019. This merger brought around 80,000 rooms and 500 properties into Aimbridge’s portfolio. Aimbridge’s hotels are mostly Marriott, Hilton, and Hyatt branded properties in US and Caribbean markets. Aimbridge is the largest operator of these brands in the world. Aimbridge recently launched the AIMClean program to ensure hotel staff are sufficiently trained in health and safety protocols. Aimbridge also provides renovation management, asset management, and consulting services. Coming in at #2 is Hyatt Hotels. You may be thinking, “wait, how can Hyatt be on this list if other companies manage Hyatt properties too?” Hyatt actually manages about ⅔ of all Hyatt properties, with 61,217 guestrooms and 372 hotels under corporate management. Hyatt is based in Chicago, IL, and their managed portfolio includes Hyatt brands in 65 countries worldwide, including boutique hotels in the Unbound Collection and Destination Hotels portfolios. Like Hyatt, InterContinental Hotels Group (IHG) manages some of their own hotels - 301 properties and 57,804 guestrooms, to be exact. However, IHG takes an asset-light approach and only manages a small percentage of their 5,800+ hotels worldwide, which include brands like Crowne Plaza and Holiday Inn. IHG’s headquarters are in Denham, United Kingdom. The fourth-largest hotel management company in the US is Highgate, which is the largest hotel management company in New York City. Highgate manages 10% of the hotel inventory in the Big Apple, and that’s also where their headquarters are. Highgate’s portfolio is made up of independent and branded hotels in major US markets like New York City, Miami, and San Francisco, with a total of 142 properties and 37,307 rooms. Crescent Hotels & Resorts takes the #5 spot, with 28,137 guestrooms and 103 hotels. Crescent is based in Fairfax, VA, and they manage Marriott, Hyatt, IHG, and Hilton brands in upscale to luxury categories, plus independent hotels affiliated with soft brands, in the US and Canada. Crescent’s portfolio includes notable independent properties like the Mayfair Hotel in Los Angeles and the PGA National Resort in Palm Beach. Similar to Crescent, HEI Hotels & Resorts also manages Marriott, Hilton, IHG, and independent properties in urban markets and vacation destinations across the US, with 23,900 rooms and 79 hotels in total. Norwalk, CT-based HEI manages a wide range of properties from select service hotels to luxury resorts. Headquartered in Boston, Pyramid Hotel Group, #7 on our list, has quite an international footprint. Pyramid operates full-service, select-service, and independent hotels in the US, the Caribbean, Ireland, and the UK. The company’s portfolio includes Marriott, Hilton, IHG, and Wyndham brands, with a total of 91 hotels and 23,493 guestrooms. Pyramid has expertise in brand transitions and conversions. While some management companies work with a full spectrum of hotels, Island Hospitality Management’s portfolio of 177 hotels and 22,811 rooms include mostly select-service brands, such as Residence Inn and Homewood Suites. Island operates Hilton, Hyatt, IHG, and Marriott properties across the US, and the company is based in West Palm Beach, FL. Crescent’s Fairfax, VA-based neighbor, Crestline Hotels & Resorts, takes the #9 position, with 118 hotels and 17,250 guestrooms in its portfolio. Crestline manages Hilton, Hyatt, IHG, and Marriott properties across the US that range from select-service hotels to high-end boutiques. Crestline has won numerous awards, including Marriott’s “Renovation of the Year” 3 times! Another Texas-based management company, Remington operates primarily Hilton and Marriott properties, all located in the US, with their headquarters in Dallas. Remington’s portfolio includes 16,918 guestrooms and 86 hotels - all of which use contactless key systems. As you can see from this list, no two management companies are the same. Each one has their own strengths and advantages, which means owners can choose a management company that closely fits their needs.   How to Choose a Hotel Management Company Hotel management companies vary greatly in terms of the services they offer, the relationships they have with brands, and their specific areas of expertise. As an owner, you’ll want to partner with a management company who has expertise related to your specific hotel asset and your goals. Are you planning a renovation? Then you’ll want to choose a management company who has experience with renovations. Do you own an independent luxury resort? Then you might not want to partner with a management company whose portfolio consists of only Residence Inns and Hamptons.   Pictured: Residence Inn Orlando Lake Buena Vista, managed by Remington   When comparing hotel management companies, we recommend comparing a few specific areas: Brand relationships: Is the management company a preferred partner of the brand you want to work with? Management companies that have built strong alliances with brands know the ins and outs of the brand standards, are well acquainted with the brand’s key team members, and can help new owners navigate the branding process. Services and expertise: Besides day-to-day operations, do you want the management company to take on additional responsibilities? Some management companies also offer services like asset management, renovation management,  Portfolio composition: What kinds of hotels does the management company have in its portfolio? If the hotels in a management company’s portfolio are similar to yours (and are generating good results!), then you can be confident that the management company will do a good job with yours. Look at not only the hotel brands, but also the geographic locations (urban vs. rural, coastal vs. midwestern), the ages of the properties (historic vs. brand new), the target guest segments (business vs. group vs. leisure), and property amenities (pools, golf courses, spas, restaurants, etc.). Performance: Does the management company actually deliver results? Management companies should be forthcoming with case studies and testimonials from properties in their portfolio. Based on these documents, you can better assess whether the management company is the right fit for your business goals.   An Overview of Hotel Management Careers Looking to build a career in the hotel industry? Perhaps you just finished your bachelor’s degree at a top hotel school and want to reverse engineer your path towards lucrative management jobs or maybe you’re an industry veteran looking for professional development opportunities to get you into corporate America and off property. In addition to working for the big brands like Hilton and Marriott, management companies offer some compelling career tracks for professionals with a variety of goals. Hotel management companies hire employees to work on-property in all hotel departments, and they also hire corporate employees who often work at their corporate headquarters. Hotel management company jobs on the corporate level include: Cluster revenue management teams with analysts or managers (centralized yield management is a big value add of management companies) Interior designers Contract administrators Financial management analysts Accountants IT managers Human resources managers Area directors or cluster general managers Hotel managers (GMs) Restaurant management and food service (often multi-unit) Event management and sales professionals Unlike on-property employees, corporate staff typically oversee or work with multiple properties at the same time. It’s not uncommon for corporate positions like revenue managers, sales managers, or IT managers to oversee dozens of properties - possibly scattered across the country. If you’re drawn to the hotel industry to build relationships with guests and enjoy the on-property camaraderie, note that corporate positions at hotel management companies are often very different than positions at the hotels they manage. The corporate roles are usually based in an office and reflect a typical office culture. On the plus side, corporate employees typically work standard business hours and receive time off on holidays, while on-property employees work less regular schedules and often on holidays.   -- The travel industry and more specifically the hotel sector is filled with a variety of rewarding career paths from event planning to the culinary arts.  Whether you're new to the industry, a hospitality student at Cornell University of even a Marriott International veteran of 20 years - there's always something new to learn in this dynamic and rapidly evolving space. Whether you’re researching hotel management companies to find your next business partner or to find your next career, you can surely find one that fits your criteria. Do you have any questions that we didn’t answer? We’d love to hear them!  

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Beonprice Achieves Level I Global Support Certification

Hotel Tech Report
5 days ago

This week, Beonprice earned Hotel Tech Report’s level I Global Customer Support Certification (GCSC) for its investments into tools, processes and strategies to ensure the ongoing success of its customers across the four of the key pillars of the GCSC Rubric including: pre-emptive support, reactive support, coaching and customer validation. The Hotel Tech Report GCSC certification program analyzes software vendors along critical dimensions of customer support infrastructure in order to help hoteliers minimize risk and maximize positive outcomes when selecting technology partners.  In order to become certified, companies must open their internal systems to Hotel Tech Report for assessment along HTR’s rigorous 34-point GCSC Rubric. “Beonprice has taken a really integrated approach to support where instead of a traditional knowledge base that customers have to search through, relevant content is embedded in a slide out modal throughout the application serving as a useful sidekick for users.  Customers can then reach the team within that same view with embedded context meaning their customers, product and support team are always in sync.,” Hotel Tech Report co-founder Adam Hollander. "In Beonprice we do not just want to provide world leading technology to hotels, but offer long term partnership with our customers. We are only happy if our customers are also happy." Ruben Sanchez, CEO @ Beonprice The below GCSC assessment outlines the verified systems and processes that Beonprice has in place to educate, train, retain and support customers. Beonprice's GCSC Assessment Summary  Rubric Score: 24/34 Certification Level: I Customer Orientation: Customer Minded Recommendation: Recommended Support Team Size: 10 Support Team Leaders: Neville Isaac - Chief Customer Officer Certification Period: September 7, 2020-September 7, 2021 Support Stack: Odoo, Google Drive, Thinkific   GCSC Support Rubric Section I: Pre-Emptive Support  The Pre-Emptive support pillar of the GSCG Scoring Rubric audits the tools and processes the vendor has in place to provide customers with easy access to self-help resources.  These self-help resources serve as a basis to offer easy troubleshooting as well as to preempt answers to product related questions before they arise providing a more intuitive and seamless experience for clients.  The following are the rubric items that Hotel Tech Report has verified that Beonprice has in place for clients: 1.1 Online knowledge base/help center: Vendor offers a searchable help center for customers to easily find answers to common customer questions. 2.1 Online training videos: Vendor offers pre-recorded videos that clients can access 24/7 for self-teaching and deeper product knowledge. 3.2 Tooltips: Vendor offers helpful tips and hints presented when users hover over buttons and UI elements in the interface. (min of 10 in-app tooltips) 4.1 Implementation documentation/roadmap: Vendor offers clients a visual map of the steps, processes and stakeholders upon onboarding to ensure that all stakeholders are aligned to make the implementation process more seamless. 4.2 Proprietary data recommendations: Vendor aggregates product usage data across clients to benchmark performance and provide recommendations to their users to help them learn about best practices, make better decisions and maximize product utilization. GCSC Support Rubric Section II: Reactive Support  The Reactive Support Pillar assesses the company's responsiveness to clients and their ability to resolve issues quickly when they arise ensuring prompt response and service to clients.  The following are the rubric items that Hotel Tech Report has verified that Beonprice has in place for clients: 1.2 Transparent process: Vendor has opened up their systems to Hotel Tech Report via screen share to verify their tools and processes in place to deliver customer support. 1.3 Email support or phone support: Vendor at least one of the traditional methods of customer support channels, email or phone support (additional channels: phone, chat, email) 1.4 Multi-lingual support: Vendor offers support in the languages where they have active clients (English and Spanish) 1.5 Purpose built support and ticket management tool: Vendor utilizes professional customer support software that has functionality to effectively manage support tickets, followup, escalations and analytics. 3.3 Contract SLAs: Vendor has service level agreement (SLA) terms in place in client contracts to guarantee that service levels are upheld. 4.4 24/7 support availability: Vendor offers 24/7 support to clients for around the clock assistance. 4.5 Verified Contract SLA monitoring: Vendor has SLA terms fully integrated into their customer support software that has automatic notifications ensuring that SLA's are monitored and upheld.   GCSC Support Rubric Section III: Customer Success & Coaching While keeping customers happy is commonly thought of by software companies as the top priority, keeping them well informed is of equal importance. The third pillar of the GCSC Rubric identifies the key ways that vendors inform, educate and train their customers to realize successful outcomes with their products.  The following are the rubric items that Hotel Tech Report has verified that Beonprice has in place for clients: 1.7 Customer satisfaction monitoring (ex. NPS surveys, CSAT): Vendor has processes in place to regularly monitor customer satisfaction. 2.4 Quarterly success check ins: Vendor offers [at least] quarterly customer success check ins to review progress, share best practices and ensure that clients are successful and happy with the product or service. 3.6 Performance reporting: Vendor offers reporting and analytics to show clients the value of the product or service. 3.4 Managed Services: Vendor offers additional consulting and managed services to help clients maximize their usage of the product. 4.6 Learning Management System (LMS): Vendo has a Learning Management System in place that offers videos, guided training and assessments for customers to be able to expand product knowledge in a structured way over time. 4.7 Product certifications: Vendor offers certifications which allow users to have a structured path to becoming a product expert which can be leveraged in their career to strengthen their resume. 4.8 Online community: Vendor offers an online community for customers that allows users to engage with each other as well as targeted content in a contextualized setting to enable self-service discovery and problem solving. 4.9 Dedicated customer success monitoring software: Vendor utilizes dedicated customer success software to monitor product usage and coach users to succeed with the product. 4.10 Customer conference: Vendor produces an in-person or online user conference to build a community, share product updates and educate users on best practices. GCSC Support Rubric Section IV: Customer Validation The GCSC’s 34-point rubric and Hotel Tech Report’s verification of internal tools and processes validate the vendor's systems in place; however, the validation of the success of these tools and processes can most significantly be validated by the unbiased perspectives of real hotelier customers.  This pillar looks at unbiased verified client reviews and satisfaction scores to validate that the processes in place are working in the eyes of customers based on their satisfaction ratings.  The following are the rubric items that Hotel Tech Report has verified that Beonprice has in place for clients: 2.6 Public Feedback Validation: Vendor shows exemplary client relationships and is a top performer on Hotel Tech Report with more than 28 verified client reviews. 4.12 4.9 avg. customer support rating: Vendor has outstanding customer support ratings averaging more than 4.9/5 across all client reviews. 4.13 Vendor Confidence: The vendor has revealed their private internal customer satisfaction scores to Hotel Tech Report showing high degrees of confidence in their support infrastructure and outcomes which can be a strong indicator of transparency and positive vendor-client relationships.   About the Hotel Tech Report Global Customer Support Certification (GCSC) Support is one of the most critical aspects of the vendor selection process and yet historically there has never been a way to know the quality of a company’s support, until now. Using Hotel Tech Report’s proprietary framework, companies are assessed along four key dimensions: pre-emptive support, reactive support, coaching/success and client validation to provide hoteliers unprecedented levels of transparency to more easily identify top technology partners.   For more information please visit: https://partners.hoteltechreport.com/global-support-certification/

Juyo Analytics Achieves Level II Global Support Certification

Hotel Tech Report
2 weeks ago

This week, Juyo Analytics earned Hotel Tech Report’s level II Global Customer Support Certification (GCSC) for its investments into tools, processes and strategies to ensure the ongoing success of its customers across the four of the key pillars of the GCSC Rubric including: pre-emptive support, reactive support, coaching and customer validation. The Hotel Tech Report GCSC certification program analyzes software vendors along critical dimensions of customer support infrastructure in order to help hoteliers minimize risk and maximize positive outcomes when selecting technology partners.  In order to become certified, companies must open their internal systems to Hotel Tech Report for assessment along HTR’s rigorous 34-point GCSC Rubric. “What’s really unique about Juyo’s infrastructure to help customers succeed is having an online community for users to interact with the Juyo team as well as each other to answer questions, share best practices and give product tips. The team is also hyper focused not just product training but also ongoing education to help their clients grow into their roles via continuing education through video content and strategy calls for clients.” Hotel Tech Report co-founder Adam Hollander. "Our approach in customer support is deeply rooted in empathy. At the very core the team of Juyo is hoteliers. We all deeply understand the hotelier’s day to day life, and we act as a sparring partner to accompany them in their success.." Vassilis Syropoulos, CEO @ Juyo Analytics The below GCSC assessment outlines the verified systems and processes that Juyo Analytics has in place to educate, train, retain and support customers.   Juyo Analytics's GCSC Assessment Summary  Rubric Score: 26/34 Certification Level: II Customer Orientation: Customer Focused Recommendation: Recommended Support Team Size: 4 Support Team Leaders: Karin van Rhee, VP of Customer Success Certification Period: August 2020-August 2021 Support Stack: Freshdesk, Squarespace, Trello, Google Drive     GCSC Support Rubric Section I: Pre-Emptive Support  The Pre-Emptive support pillar of the GSCG Scoring Rubric audits the tools and processes the vendor has in place to provide customers with easy access to self-help resources.  These self-help resources serve as a basis to offer easy troubleshooting as well as to preempt answers to product related questions before they arise providing a more intuitive and seamless experience for clients.  The following are the rubric items that Hotel Tech Report has verified that Juyo Analytics has in place for clients: 1.1 Online knowledge base/help center: Vendor offers a searchable help center for customers to easily find answers to common customer questions. 2.1 Online training videos: Vendor offers pre-recorded videos that clients can access 24/7 for self-teaching and deeper product knowledge. 3.2 Tooltips: Vendor offers helpful tips and hints presented when users hover over buttons and UI elements in the interface. (min of 10 in-app tooltips) 4.1 Implementation documentation/roadmap: Vendor offers clients a visual map of the steps, processes and stakeholders upon onboarding to ensure that all stakeholders are aligned to make the implementation process more seamless.   GCSC Support Rubric Section II: Reactive Support  The Reactive Support Pillar assesses the company's responsiveness to clients and their ability to resolve issues quickly when they arise ensuring prompt response and service to clients.  The following are the rubric items that Hotel Tech Report has verified that Juyo Analytics has in place for clients: 1.2 Transparent process: Vendor has opened up their systems to Hotel Tech Report via screen share to verify their tools and processes in place to deliver customer support. 1.3 Email support or phone support: Vendor at least one of the traditional methods of customer support channels, email or phone support (additional channels: phone, chat, email) 1.4 Multi-lingual support: Vendor offers support in the languages where they have active clients (English, French, Dutch, German, Romanian, Spanish)  1.5 Purpose built support and ticket management tool: Vendor utilizes professional customer support software that has functionality to effectively manage support tickets, followup, escalations and analytics. 2.2 Live Chat support: Vendor offers website or in-app live chat as an alternative customer support channel. 3.3 Contract SLAs: Vendor has service level agreement (SLA) terms in place in client contracts to guarantee that service levels are upheld. 3.5 Feature request tracking: Vendor offers the ability for clients to easily submit feature requests and has a methodology in place for escalating high priority features. 4.5 Verified Contract SLA monitoring: Vendor has SLA terms fully integrated into their customer support software that has automatic notifications ensuring that SLA's are monitored and upheld.   GCSC Support Rubric Section III: Customer Success & Coaching While keeping customers happy is commonly thought of by software companies as the top priority, keeping them well informed is of equal importance. The third pillar of the GCSC Rubric identifies the key ways that vendors inform, educate and train their customers to realize successful outcomes with their products.  The following are the rubric items that Hotel Tech Report has verified that Juyo Analytics has in place for clients: 1.7 Customer satisfaction monitoring (ex. NPS surveys, CSAT): Vendor has processes in place to regularly monitor customer satisfaction. 2.3 Product updates/changes (release notes/changelog): Vendor offers easily accessible robust documentation of feature updates and product improvements to educate clients on new ways to maximize usage of the product. 2.4 Quarterly success check ins: Vendor offers [at least] quarterly customer success check ins to review progress, share best practices and ensure that clients are successful and happy with the product or service. 3.6 Performance reporting: Vendor offers reporting and analytics to show clients the value of the product or service. 3.4 Managed Services: Vendor offers additional consulting and managed services to help clients maximize their usage of the product. 4.8 Online community: Vendor offers and online community for customers that allows users to engage with each other as well as targeted content in a contextualized setting to enable self-service discovery and problem solving.   GCSC Support Rubric Section IV: Customer Validation The GCSC’s 34-point rubric and Hotel Tech Report’s verification of internal tools and processes validate the vendor's systems in place; however, the validation of the success of these tools and processes can most significantly be validated by the unbiased perspectives of real hotelier customers.  This pillar looks at unbiased verified client reviews and satisfaction scores to validate that the processes in place are working in the eyes of customers based on their satisfaction ratings.  The following are the rubric items that Hotel Tech Report has verified that Juyo Analytics has in place for clients: 2.6 Public Feedback Validation: Vendor shows strong client relationships on Hotel Tech Report with more than 26 verified client reviews. 4.12 4.5+ avg. customer support rating: Vendor has outstanding customer support ratings averaging more than 4.5/5 across all client reviews. 4.13 Vendor Confidence: The vendor has revealed their private internal customer satisfaction scores to Hotel Tech Report showing high degrees of confidence in their support infrastructure and outcomes which can be a strong indicator of transparency and positive vendor-client relationships.   About the Hotel Tech Report Global Customer Support Certification (GCSC) Support is one of the most critical aspects of the vendor selection process and yet historically there has never been a way to know the quality of a company’s support, until now. Using Hotel Tech Report’s proprietary framework, companies are assessed along four key dimensions: pre-emptive support, reactive support, coaching/success and client validation to provide hoteliers unprecedented levels of transparency to more easily identify top technology partners. For more information please visit: https://partners.hoteltechreport.com/global-support-certification/

SiteMinder Achieves Level III Global Support Certification

Hotel Tech Report
2 months ago

SiteMinder Achieves Level III Global Support Certification This week, SiteMinder earned Hotel Tech Report’s level III Global Customer Support Certification (GCSC) for its investments into tools, processes and strategies to ensure the ongoing success of its customers across the four of the key pillars of the GCSC Rubric including: pre-emptive support, reactive support, coaching and customer validation. The Hotel Tech Report GCSC certification program analyzes software vendors along critical dimensions of customer support infrastructure in order to help hoteliers minimize risk and maximize positive outcomes when selecting technology partners. In order to become certified, companies must open their internal systems to Hotel Tech Report for assessment along HTR’s rigorous 34-point GCSC Rubric. “What’s really unique about SiteMinder’s support organization is their ability to not just provide their product, but also their expertise, data and market knowledge to help clients succeed. Their sheer scale allows them to collect mounds and mounds of market data that they skillfully leverage and turn into insights that they package and deliver to clients through things like bespoke ‘recommendation packs’ and local market updates to help clients get the most value out of being a SiteMinder client which is something that very few companies have the wherewithal or scale to deliver,” says Hotel Tech Report co-founder Adam Hollander. "Your technology will only carry you so far. It’s the service that you provide to customers that keeps a business strong. Knowing this, SiteMinder has had an unrelenting commitment to customer service from day one, and our responsive and global approach is something that we are proud of. Our teams are dispersed throughout the world. We cover phone support in each of the 11 languages that we operate in and make our products available in eight of those languages, so that despite being a global business, we are also a truly local player to our hotel customers," says Sankar Narayan, CEO at SiteMinder. The below GCSC assessment outlines the verified systems and processes that SiteMinder has in place to educate, train, retain and support customers.   SiteMinder's GCSC Assessment Summary  Rubric Score: 27/34 Certification Level:III Customer Orientation: Customer Focused Recommendation: Highly recommended Support Team Size: 145 Support Team Leaders: Vinnie Panicker VP, Global Support Certification Period: February 15, 2020 - February 15, 2021 Support Stack: ProductBoard, Intercom, Google Slides, Wistia, Atlassian, GetFeedback, alteryx, Tableau, Salesforce     GCSC Support Rubric Section I: Pre-Emptive Support  The Pre-Emptive support pillar of the GSCG Scoring Rubric audits the tools and processes the vendor has in place to provide customers with easy access to self-help resources.  These self-help resources serve as a basis to offer easy troubleshooting as well as to preempt answers to product related questions before they arise providing a more intuitive and seamless experience for clients.  The following are the rubric items that Hotel Tech Report has verified that SiteMinder has in place for clients: 1.1 Online knowledge base/help center: Vendor offers a searchable help center for customers to easily find answers to common customer questions. 2.1 Online training videos: Vendor offers pre-recorded videos that clients can access 24/7 for self-teaching and deeper product knowledge. 3.1 In-app guided tours: Vendor offers in-app guided tours that are embedded within their interface to provide coaching and education for users to organically discover and easily access while using the product. 3.2 Tooltips: Vendor offers helpful tips and hints presented when users hover over buttons and UI elements in the interface. (min of 10 in-app tooltips) 4.2 Proprietary data recommendations: Vendor aggregates product usage data across clients to benchmark performance and provide recommendations to their users to help them learn about best practices, make better decisions and maximize product utilization. GCSC Support Rubric Section II: Reactive Support  The Reactive Support Pillar assesses the company's responsiveness to clients and their ability to resolve issues quickly when they arise ensuring prompt response and service to clients.  The following are the rubric items that Hotel Tech Report has verified that SiteMinder has in place for clients: 1.2 Transparent process: Vendor has opened up their systems to Hotel Tech Report via screen share to verify their tools and processes in place to deliver customer support. 1.3 Email support or phone support: Vendor at least one of the traditional methods of customer support channels, email or phone support (additional channels: phone, chat, email) 1.4 Multi-lingual support: Vendor offers support in the languages where they have active clients 1.5 Purpose built support and ticket management tool: Vendor utilizes professional customer support software that has functionality to effectively manage support tickets, followup, escalations and analytics. 2.2 Live Chat support: Vendor offers website or in-app live chat as an alternative customer support channel. 3.3 Contract SLAs: Vendor has service level agreement (SLA) terms in place in client contracts to guarantee that service levels are upheld. 3.5 Feature request tracking: Vendor offers the ability for clients to easily submit feature requests and has a methodology in place for escalating high priority features. 4.5 Verified Contract SLA monitoring: Vendor has SLA terms fully integrated into their customer support software that has automatic notifications ensuring that SLA's are monitored and upheld.   GCSC Support Rubric Section III: Customer Success & Coaching While keeping customers happy is commonly thought of by software companies as the top priority, keeping them well informed is of equal importance. The third pillar of the GCSC Rubric identifies the key ways that vendors inform, educate and train their customers to realize successful outcomes with their products.  The following are the rubric items that Hotel Tech Report has verified that SiteMinder has in place for clients: 1.7 Customer satisfaction monitoring (ex. NPS surveys, CSAT): Vendor has processes in place to regularly monitor customer satisfaction. 2.3 Product updates/changes (release notes/changelog): Vendor offers easily accessible robust documentation of feature updates and product improvements to educate clients on new ways to maximize usage of the product. 2.4 Quarterly success check ins: Vendor offers [at least] quarterly customer success check ins to review progress, share best practices and ensure that clients are successful and happy with the product or service. 3.6 Performance reporting: Vendor offers reporting and analytics to show clients the value of the product or service. 3.4 Managed Services: Vendor offers additional consulting and managed services to help clients maximize their usage of the product. 4.9 Dedicated customer success monitoring software: Vendor utilizes dedicated customer success software to monitor product usage and coach users to succeed with the product. GCSC Support Rubric Section IV: Customer Validation The GCSC’s 34-point rubric and Hotel Tech Report’s verification of internal tools and processes validate the vendor's systems in place; however, the validation of the success of these tools and processes can most significantly be validated by the unbiased perspectives of real hotelier customers.  This pillar looks at unbiased verified client reviews and satisfaction scores to validate that the processes in place are working in the eyes of customers based on their satisfaction ratings.  The following are the rubric items that Hotel Tech Report has verified that SiteMinder has in place for clients: 4.11 Public Feedback Validation: Vendor shows exemplary client relationships and is a top performer on Hotel Tech Report with more than 100 verified client reviews. 2.5 4-star avg. customer support rating: Vendor has outstanding customer support ratings averaging more than 4.0/5 across all client reviews.   About the Hotel Tech Report Global Customer Support Certification (GCSC) Support is one of the most critical aspects of the vendor selection process and yet historically there has never been a way to know the quality of a company’s support, until now. Using Hotel Tech Report’s proprietary framework, companies are assessed along four key dimensions: pre-emptive support, reactive support, coaching/success and client validation to provide hoteliers unprecedented levels of transparency to more easily identify top technology partners.

OTA Insight Achieves Level III Global Support Certification

Hotel Tech Report
2 months ago

This week, OTA Insight earned Hotel Tech Report’s level III Global Customer Support Certification (GCSC) for its investments into tools, processes and strategies to ensure the ongoing success of its customers across four of the key pillars of the GCSC Rubric including: pre-emptive support, reactive support, coaching and customer validation. The Hotel Tech Report GCSC certification program analyzes software vendors along critical dimensions of customer support infrastructure in order to help hoteliers minimize risk and maximize positive outcomes when selecting technology partners. In order to become certified, companies must open their internal systems to Hotel Tech Report for assessment along HTR’s rigorous 34-point GCSC Rubric. “While analyzing the OTA Insight team’s internal support infrastructure during the certification process, what really stood out was the depth and sophistication of their feedback loop. Not only do they intake thousands of feedback suggestions across tons of channels and touchpoints like ProductBoard, Slack, email, success calls and live chat to keep a pulse on customer needs; but more importantly, their processes for feedback ingestion, routing, followup and prioritization are key ingredients to a product roadmap that’s driven around customer needs and pain points. As businesses scale this feedback loop becomes harder and harder to organize, prioritize and manage but OTA Insight makes it look easy and there’s no question about it that this is one of the key ingredients to both their success as a company and the success of their users.” Hotel Tech Report co-founder Adam Hollander. "The customer really is at the core of our business and always has been. As a base, customer insights and feedback affect everything from our product development, through to the sales consultation process. When it comes to customer support, our industry-leading customer success team are focused on delivering quick and efficient support around the clock. Not only does this customer-centric model reduce friction, it means customers can completely trust the accuracy of our data." - Gino Engels, Co-Founder & CCO“I am absolutely delighted for OTA Insight to achieve this certification. It re-confirms our commitment to being a fully customer centric-organisation and shows that we take our customer service seriously. I am incredibly proud of the teams who contribute to this service standard, and this award is testament to their continued drive to improve all areas of our service.” - James Parsons, Global Director, Customer Success & Operations The below GCSC assessment outlines the verified systems and processes that OTA Insight has in place to educate, train, retain and support customers. OTA Insight's GCSC Assessment Summary  Rubric Score: 29/34 Certification Level: III Customer Orientation: Customer Focused Recommendation: Highly recommended Support Team Size: 40 Support Team Leaders: James Parsons, Global Director of Customer Success & Operations Certification Period: March 12, 2020-March 20, 2021 Support Stack: Productboard, Intercom, Slack, Chartio, Satismeter, Hubspot, Pendo, Inspectlet, Wistia, Google Slides   GCSC Support Rubric Section I: Pre-Emptive Support  The Pre-Emptive support pillar of the GSCG Scoring Rubric audits the tools and processes the vendor has in place to provide customers with easy access to self-help resources.  These self-help resources serve as a basis to offer easy troubleshooting as well as to preempt answers to product related questions before they arise providing a more intuitive and seamless experience for clients.  The following are the rubric items that Hotel Tech Report has verified that OTA Insight has in place for clients: 1.1 Online knowledge base/help center: Vendor offers a searchable help center for customers to easily find answers to common customer questions. 2.1 Online training videos: Vendor offers pre-recorded videos that clients can access 24/7 for self-teaching and deeper product knowledge. 3.1 In-app guided tours: Vendor offers in-app guided tours that are embedded within their interface to provide coaching and education for users to organically discover and easily access while using the product. 3.2 Tooltips: Vendor offers helpful tips and hints presented when users hover over buttons and UI elements in the interface. (min of 10 in-app tooltips) 4.2 Proprietary data recommendations: Vendor aggregates product usage data across clients to benchmark performance and provide recommendations to their users to help them learn about best practices, make better decisions and maximize product utilization.   GCSC Support Rubric Section II: Reactive Support  The Reactive Support Pillar assesses the company's responsiveness to clients and their ability to resolve issues quickly when they arise ensuring prompt response and service to clients.  The following are the rubric items that Hotel Tech Report has verified that OTA Insight has in place for clients: 1.2 Transparent process: Vendor has opened up their systems to Hotel Tech Report via screen share to verify their tools and processes in place to deliver customer support. 1.3 Email support or phone support: Vendor at least one of the traditional methods of customer support channels, email or phone support (additional channels: phone, chat, email) 1.4 Multi-lingual support: Vendor offers support in the languages where they have active clients 1.5 Purpose built support and ticket management tool: Vendor utilizes professional customer support software that has functionality to effectively manage support tickets, followup, escalations and analytics. 2.2 Live Chat support: Vendor offers website or in-app live chat as an alternative customer support channel. 3.3 Contract SLAs: Vendor has service level agreement (SLA) terms in place in client contracts to guarantee that service levels are upheld. 3.5 Feature request tracking: Vendor offers the ability for clients to easily submit feature requests and has a methodology in place for escalating high priority features. 4.4 24/7 support availability: Vendor offers 24/7 support to clients for around the clock assistance.   GCSC Support Rubric Section III: Customer Success & Coaching While keeping customers happy is commonly thought of by software companies as the top priority, keeping them well informed is of equal importance. The third pillar of the GCSC Rubric identifies the key ways that vendors inform, educate and train their customers to realize successful outcomes with their products.  The following are the rubric items that Hotel Tech Report has verified that OTA Insight has in place for clients: 1.7 Customer satisfaction monitoring (ex. NPS surveys, CSAT): Vendor has processes in place to regularly monitor customer satisfaction. 2.3 Product updates/changes (release notes/changelog): Vendor offers easily accessible robust documentation of feature updates and product improvements to educate clients on new ways to maximize usage of the product. 2.4 Quarterly success check ins: Vendor offers [at least] quarterly customer success check ins to review progress, share best practices and ensure that clients are successful and happy with the product or service. 3.6 Performance reporting: Vendor offers reporting and analytics to show clients the value of the product or service. 3.4 Managed Services: Vendor offers additional consulting and managed services to help clients maximize their usage of the product. 4.9 Dedicated customer success monitoring software: Vendor utilizes dedicated customer success software to monitor product usage and coach users to succeed with the product. 4.10 Customer conference: Vendor produces an in-person or online user conference to build a community, share product updates and educate users on best practices.   GCSC Support Rubric Section IV: Customer Validation The GCSC’s 34-point rubric and Hotel Tech Report’s verification of internal tools and processes validate the vendor's systems in place; however, the validation of the success of these tools and processes can most significantly be validated by the unbiased perspectives of real hotelier customers.  This pillar looks at unbiased verified client reviews and satisfaction scores to validate that the processes in place are working in the eyes of customers based on their satisfaction ratings. The following are the rubric items that Hotel Tech Report has verified that OTA Insight has in place for clients: 3.7 Public Feedback Validation: Vendor shows exemplary client relationships and is a top performer on Hotel Tech Report with more than 50 verified client reviews. 4.12 Outstanding Customer Support Rating: Vendor has outstanding customer support ratings averaging more than 4.5/5 across all client reviews. 4.13 Vendor Confidence: The vendor has revealed their private internal customer satisfaction scores to Hotel Tech Report showing high degrees of confidence in their support infrastructure and outcomes which can be a strong indicator of transparency and positive vendor-client relationships.   About the Hotel Tech Report Global Customer Support Certification (GCSC) Support is one of the most critical aspects of the vendor selection process and yet historically there has never been a way to know the quality of a company’s support, until now. Using Hotel Tech Report’s proprietary framework, companies are assessed along four key dimensions: pre-emptive support, reactive support, coaching/success and client validation to provide hoteliers unprecedented levels of transparency to more easily identify top technology partners. For more information please visit: https://partners.hoteltechreport.com/global-support-certification/

Atomize Achieves Level I Global Support Certification

Hotel Tech Report
2 months ago

This week, Atomize earned Hotel Tech Report’s level I Global Customer Support Certification (GCSC) for its investments into tools, processes and strategies to ensure the ongoing success of its customers across the four of the key pillars of the GCSC Rubric including: pre-emptive support, reactive support, coaching and customer validation. The Hotel Tech Report GCSC certification program analyzes software vendors along critical dimensions of customer support infrastructure in order to help hoteliers minimize risk and maximize positive outcomes when selecting technology partners.  In order to become certified, companies must open their internal systems to Hotel Tech Report for assessment along HTR’s rigorous 34-point GCSC Rubric. “Atomize has focused on building a self-serve automated product but their support team is always accessible to clients if they need help.  With an average support rating of 5/5 from 75+ verified client reviews, it's clear that their system is working.” Hotel Tech Report co-founder Adam Hollander. "The hotel industry is the most service minded industry out there. It is in the DNA to serve guests beyond expectations. Consequently; to serve hotels as a technology vendor, it is imperative to set customer service first. True customer service cannot however be achieved by a department, it needs to include the entire company which is a receipt of the overall company culture." Alexander Edström, CEO @ Atomize The below GCSC assessment outlines the verified systems and processes that Atomize has in place to educate, train, retain and support customers.   Atomize's GCSC Assessment Summary  Rubric Score: 18/34 Certification Level: I Customer Orientation: Customer Minded Recommendation: Recommended Support Team Size: 3 Support Team Leader: Richard Harmon - Global Client Success and Support Manager Certification Period: February 20, 2020-February 20, 2021 Support Stack: Atlassian, Hubspot, Google Sheets     GCSC Support Rubric Section I: Pre-Emptive Support  The Pre-Emptive support pillar of the GSCG Scoring Rubric audits the tools and processes the vendor has in place to provide customers with easy access to self-help resources.  These self-help resources serve as a basis to offer easy troubleshooting as well as to preempt answers to product related questions before they arise providing a more intuitive and seamless experience for clients.  The following are the rubric items that Hotel Tech Report has verified that Atomize has in place for clients: 1.1 Online knowledge base/help center: Vendor offers a searchable help center for customers to easily find answers to common customer questions. 2.1 Online training videos: Vendor offers pre-recorded videos that clients can access 24/7 for self-teaching and deeper product knowledge. 3.2 Tooltips: Vendor offers helpful tips and hints presented when users hover over buttons and UI elements in the interface. (min of 10 in-app tooltips)   GCSC Support Rubric Section II: Reactive Support  The Reactive Support Pillar assesses the company's responsiveness to clients and their ability to resolve issues quickly when they arise ensuring prompt response and service to clients.  The following are the rubric items that Hotel Tech Report has verified that Atomize has in place for clients: 1.2 Transparent process: Vendor has opened up their systems to Hotel Tech Report via screen share to verify their tools and processes in place to deliver customer support. 1.3 Email support or phone support: Vendor at least one of the traditional methods of customer support channels, email or phone support (additional channels: phone, chat, email) 1.4 Multi-lingual support: Vendor offers support in the languages where they have active clients 1.5 Purpose built support and ticket management tool: Vendor utilizes professional customer support software that has functionality to effectively manage support tickets, followup, escalations and analytics. 2.2 Live Chat support: Vendor offers website or in-app live chat as an alternative customer support channel. 3.5 Feature request tracking: Vendor offers the ability for clients to easily submit feature requests and has a methodology in place for escalating high priority features.   GCSC Support Rubric Section III: Customer Success & Coaching While keeping customers happy is commonly thought of by software companies as the top priority, keeping them well informed is of equal importance. The third pillar of the GCSC Rubric identifies the key ways that vendors inform, educate and train their customers to realize successful outcomes with their products.  The following are the rubric items that Hotel Tech Report has verified that Atomize has in place for clients: 1.7 Customer satisfaction monitoring (ex. NPS surveys, CSAT): Vendor has processes in place to regularly monitor customer satisfaction. 3.6 Performance reporting: Vendor offers reporting and analytics to show clients the value of the product or service.   GCSC Support Rubric Section IV: Customer Validation The GCSC’s 34-point rubric and Hotel Tech Report’s verification of internal tools and processes validate the vendor's systems in place; however, the validation of the success of these tools and processes can most significantly be validated by the unbiased perspectives of real hotelier customers.  This pillar looks at unbiased verified client reviews and satisfaction scores to validate that the processes in place are working in the eyes of customers based on their satisfaction ratings. The following are the rubric items that Hotel Tech Report has verified that Atomize has in place for clients: 3.7 Public Feedback Validation: Vendor shows exemplary client relationships and is a top performer on Hotel Tech Report with more than 50+ verified client reviews. 4.12 4.5-star avg. customer support rating: Vendor has outstanding customer support ratings averaging more than 4.5/5 across all client reviews. 4.13 Vendor Confidence: The vendor has revealed their private internal customer satisfaction scores to Hotel Tech Report showing high degrees of confidence in their support infrastructure and outcomes which can be a strong indicator of transparency and positive vendor-client relationships.   About the Hotel Tech Report Global Customer Support Certification (GCSC) Support is one of the most critical aspects of the vendor selection process and yet historically there has never been a way to know the quality of a company’s support, until now. Using Hotel Tech Report’s proprietary framework, companies are assessed along four key dimensions: pre-emptive support, reactive support, coaching/success and client validation to provide hoteliers unprecedented levels of transparency to more easily identify top technology partners. For more information please visit: https://partners.hoteltechreport.com/global-support-certification/

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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: