Let us find your solution

Hotel Revenue Management Software Finders

Revenue Management Software Finder

Get started

Rate Shopping & Market Intelligence Finder

Get started

Central Reservations Systems Finder

Get started

Recent Revenue Management Articles

thumb description

Who are Hotel Tech's Most Inspiring Female Founders?

by
Hotel Tech Report
5 days ago

Female entrepreneurship has seen a staggering amount of growth in the last 40 years. As of 2018, the US had 12.3 million women-owned businesses, compared to 402,000 businesses in 1972. Today, women-owned ventures make 4 out of every 10 businesses within the US, a shift that has altered the landscape of female leadership. Even traditionally male-dominated industries, such as tech, are being disrupted by female founders and leaders. Women in the travel technology space are solidifying their leadership and paving the way for their younger counterparts to find their way in this growing industry.  While not a founder, Booking Chairwoman Gillian Tans is arguably the most powerful woman in travel tech.  She shares wisdom with budding female entrepreneurs and leaders: “The advice I would give to anyone starting out is to take risks and not be afraid of new challenges or opportunities. My career path was not obvious, I had to make many twists and turns along the way to get where I am today. It required taking some chances. But those were the moments where I learned the most. Without challenging yourself, growth opportunities are limited. So take the risks. You will be better for it in the long run, regardless of the short-term outcome." Without further adieu five of the travel technology industry’s most inspirational female founders, and how they forged their way to the top.   Robin Deyo, Cendyn Robin Deyo is co-founder of the global travel tech company Cendyn. With over 30 years experience in hospitality, Robin began her career on the sales side for Hyatt Hotels Corporation and Red Rock Resorts. In 1996, she and her husband recognized a hole in the market and co-founded Cendyn, a SaaS marketing, sales and event solutions platform for the hospitality industry. Cendyn enables hotels and hospitality groups to leverage data and drive guest loyalty in a secure and compliant way, while cutting down response times and offering personalized service. Cendyn’s foundational product, eProposal, was one of the first solutions to allow hotels to accept group business RFPs via their websites, thereby growing their group business. eProposal still makes up a small but important part of Cendyn’s overall portfolio today. Cendyn is the leading hotel CRM platform with over 30,000 customers across 143 countries, offering products that incorporate sales software and hotel digital marketing services with enterprise spend levels in excess of $1 billion. In June 2019, private equity firm Accel-KKR purchased a majority stake in Cendyn. Robin and her husband have taken a backseat in the day-to-day operations of the company. Robin has recently started De Joux Holdings, a company focused on investing in hospitality-focused and philanthropic projects. It will certainly be one to watch to see what exciting new paths this industry veteren will take next.   Alexandra Zubko, Triptease  Alexandra Zubko founded Triptease in 2013. Since then, it’s become one of the industry's fastest growing tech upstarts. One of the biggest issues facing the hotel industry has been the rise of online travel agencies. OTAs cut off the direct connection between hotel and customer and obscure room data for hoteliers, creating rate parity issues and making profitable pricing more elusive. Triptease increases direct bookings by making the booking process easier. Triptease: Attract is a metasearch management software that aims to drive an additional 10% of direct revenue to hotels at a lower cost than OTA commissions. Triptease: Convert is a direct marketing tool that flags a hotel’s most valuable guests, offering ways throughout the entire customer journey to make sure they book directly with the hotel. Triptease’s cloud-based software and real-time pricing tool give hotels increased ownership on how rooms are priced. Triptease was the top-rated Direct Booking Platform in 2018. Alexandra was VP, Head of Global Strategy at IHG (Intercontinental Hotel Group) prior to co-founding Triptease. She had her first taste of start-up life – in between working at consulting giants McKinsey and Goldman Sachs – as the founder of TripTips, an online social networking platform for sharing travel recommendations. For more on her background, check out our exclusive interview with Alexandra about her career journey and vision for Triptease.   Allison Page, SEVENROOMS Allison page comes to hotel (and F&B) tech with a finance background and a bachelor degree from University of Pennsylvania's prestigious Wharton Business School. Allison and her co-founder Joel Montaniel founded the business in 2011 and haven't looked back since raising more than $21M in funding to date. Hotel food & beverage operations often lack the resources and know how to run personalized marketing campaigns. SevenRooms’ segmentation and email automation enables F&B managers to easily add customizable tags to guest profiles then run rules based marketing campaigns to those segments.  Run unique marketing to critical segments like: first timers, high value regulars, positive reviewers and more. Companies like Revinate and Cendyn have demonstrated the immense value of personalized hospitality marketing campaigns.  Now F&B outlets can benefit from marketing automation too.   Janine Williams, Impulsify Janine founded Impulsify as a retail technology solution for hotels. Impulsify equips hoteliers with customized retail technology solutions to maximize impulse sales in hotel pantries and gift shops through a POS and inventory management solution.  Hotel front desk teams see a reduction in front desk retail traffic by up to 90%, enabling guests to get what they want when they want it.  Based in Denver, with 29 employees, Impusify was named top rated Lobby Technology in the HotelTechAwards. Janine takes any opportunity to fuse travel and giving back. Recently, she launched a campaign to donate a whole house to a family in need for every 50 hotels that added ImpulsePoint POS to their pantry or gift shop. Janine regularly travels to Honduras to build schools, clinics, and houses for those in need. It’s hard not to be inspired by the incredible female leaders that are finding success and bringing innovation to the travel tech industry. We are seeing unprecedented support for women’s empowerment within the workforce, turning what was once a barren wasteland for female leadership opportunities into a fertile ground for growth.   Tammy Farley, The Rainmaker Group Tammy co-founded The Rainmaker Group in 1998 where she spearheaded all sales, marketing, and customer-related operations for the company. Rainmaker is a market leader in profit optimization solution for hotels, resorts and casinos. Rainmaker has three key products: revintel, guestrev, and grouprev. The proprietary guestrev revenue management tool optimizes room rates to reflect guest’s spend across an entire property enabling properties to plan revenue goals and set rates based on demand. Grouprev helps hotel owners convert group and meeting business and maximize revenue. The tool optimizes group room rates, function space revenue, and manages a property’s sales and catering calendar. Revintel is a tool that aggregates and analyzes data to produce actionable insights to drive revenue and help site managers measure performance against corporate goals.  The Rainmaker Group was recently acquired by industry tech giant Cendyn (yes, that's the same Cendyn founded by Robyn Deyo above!) to help round out their digital offerings. Tammy will become a board member and continue her heavy involvement in local philanthropy.   Amanda Szabo, ResortPass Amanda Szabo is a serial entrepreneur and founder of Los Angeles based ResortPass.  The firm has raised $12.7M in funding to data according to data from pitchbook and has its sites set on global expansion.  In hyper competitive markets finding new hotel guests is expensive and difficult. Travellers are notoriously hard to market to which led Amanda to realize that hotels were missing the lowest hanging fruit around - locals. With that insight Amanda created ResortPass to sell day passes where locals (or guests at other hotels) can use luxury hotel amenities when they're not a guest.  ResortPass works with hotels like the W Hollywood and Viceroy Santa Monica and leverages a congestion-pricing model similar to Uber to ensure that those amenities don't end up getting over crowded for guests while ensuring that hotels achieve maximum profit.  This is one of those ideas that everyone says "how did this not exist before" but Amanda took the reigns and is executing like crazy to bring her vision to life.   Jennifer Wong, LaaSie.ai (formerly Stay Wanderful) Jennifer comes to hotel tech with a finance and real estate background, a bachelor's degree from MIT and an MBA from Harvard Business School. Jennifer founded LaaSie.ai in 2016 under the name Stay Wanderful).  The start-up uses Instant Gratification to power the transaction moment (i.e. booking on a hotel website) in a more relevant way for today's consumers. LaaSie.ai leverages a unique approach to loyalty by providing personalized incentives and perks, such as free Uber, Amazon credits or VIP access.  The platform can increase direct booking conversion and retention by leveraging an ever growing network of premium national & local merchant rewards alongside its AI technology. LaaSie.ai (under its former name Stay Wanderful) won Top Direct Booking Platform in the 2019 HotelTechAwards. The Company also won the Most Innovative - Judge's Choice Award at HITEC 2017 and of the Best Business Model Award at Launch Festival 2016.

thumb description

These Are the 5 Hottest Cities in Hotel Tech

by
Hotel Tech Report
5 days ago

Success for any startup is a blend of luck and skill, peppered with grit and resilience. It takes a methodical approach to pull together a team with exceptional skills to execute on an idea that solves a real problem for a well-understood customer. Even in a world of remote work, it also helps to be surrounded by knowledgeable advisors with industry expertise and a supportive community that can be tapped face-to-face. This is especially true in hotel technology, a tight-knit community that thrives on relationships. Of course, success is not solely dependent on location. However, clustering near other related businesses can rapidly increase your chances of success. A strong local network fosters better industry relationships that can shorten lead times on the sales side and accelerate development cycles on the product side.  That’s because the right locality puts you closer to your customers, which helps with getting actionable feedback quickly, and closer to potential investors, which accelerates momentum in rapid growth phases.  Proximity can also bring you the types of talent that underpin some of the 10 Best Places to Work in Hotel Tech. Cities with clusters of industry- and trend-specific companies give you better chances of finding the right talent for your business -- especially since former employees often go on to start their own startups that solve problems in the same industry, such as with Arise Travel. We’ve done a little legwork to help you discover some of the most vibrant and active places in the world to headquarter your hotel tech startup. With an active community familiar with hotel technology, depth of local talent pool, and a global mindset, these are our top five cities for travel technology.   London: Focus on Business Intelligence and Hardware London is an ideal place to take advantage of Europe’s diversity, as well as its relative closeness to the financial centers of New York. And, in spite of the looming Brexit, London remains itself a financial powerhouse. That means a dense concentration of global capital, coupled with a workforce details from countries all over Europe and beyond. With London's six airports, alongside train connections to most of Europe, London's location is ideal for startups looking to situate Themselves at the gates of Europe -- while still remaining as close as possible to the Americas. London also has the Traveltech Lab, a hub for travel technology startups that focuses on fostering a community of “innovation, collaboration, and creativity” that connects “technology startups with big corporates within the travel industry.” The dedicated space and organic community can be a boon to startups as they look to establish themselves, build a product, and grow their business. Hotel tech companies based in London: SiteMinder’s guest acquisition platform combines powerful optimization and analytics tools to capture more direct bookings for hotels. The company has greatly expanded its Exchange, which features dozens of integrations that make its guest acquisition tools even more useful for its 35,000 hotel and property manager clients.  While the firm will always call Sydney its home base - they've got a big presence from the London office. Mews is the backbone of hotel operations. Founded by a former rising star at Hilton, its property management system is the top-rated solution on HTR, and its kiosk, mobile check-in, and hotel app solutions are all highly rated by customers. OTA Insight is a “new breed of hotel tech company” that empowers hoteliers to fight against rate disparity, benchmark their own rates against competition, and leverage market intelligence to optimize revenue. The company’s newest feature gives hoteliers the ability to rate shop across different points-of-sale in order to monitor for regional differences in rate parity. Crave’s interactive tablets enhance the guest experience by putting property information, ancillaries, and in-room technology and messaging at guests’ fingertips. Thanks to industry-wide integrations, the tablets fold seamlessly into existing operations. Clock Software’s property management system combines crucial features, such as reservations, housekeeping, and channel management, as well as a robust API, into an all-in-one tool lauded by hoteliers. Case in point: Hoteliers votes Clock Software as a top PMS in the 2019 HotelTechAwards. Triptease is designed to return control of distribution to hotels. From acquisition to conversion, its direct booking platform merges metasearch advertising, parity monitoring, website widgets, and revenue management into a cohesive. Just last year, the Company earned an accolade as a top place to work in hotel tech. Pace reinvents revenue management with its “booking curve” approach to forecasting demand. The “intelligent revenue management” system alerts hoteliers to any unusual patterns to booking curves for each night, room-category and segment.  Fornova is a great example of London companies focusing on business intelligence: the company helps hotels monitor and benchmark distribution, as well as analyze market and property-level intelligence with HotelsBI and optimize pricing via its eCommerce Optimizer.  Iris Tablets offers hardware for guest rooms via its tablet technology. Its software also sets it apart: the cloud-hosted Guest Experience Platform (GXP) increases revenue, reduces costs and successfully improves the end-to-end Guest Experience for over 3000 hotels and restaurants worldwide. eRevMax is known for its pioneering channel manager and rate shopper RateTiger. Its latest product LiveOS turns “chaos to clarity” by smashing silos and pulling data from disparate systems into one dashboard to support real-time decisions.  Impala tackles a critical problem for hotels (and vendors serving hotels): how to integrate systems that don’t integrate themselves. Software providers can run a simple JSON script to integrate their products with those of other vendors in hospitality thus unlocking a new market.   San Francisco: Focus on Big Tech Silicon Valley has long been home to Big Tech. And even though the area has long since become less affordable than other cities the region’s reputation continues to attract ambitious entrepreneurs and world-class workers. The competitiveness is a double-edged sword: It can be costly to hire the best talent here, and investors quite literally have the cream of the crop. It can be a struggle for startups to both find the best people and raise the necessary capital to thrive. For these reasons, Silicon Valley has become home to larger hotel tech companies that serve the hospitality industry worldwide. These companies can compete effectively for talent, and take full advantage of the regions saturation of startups. San Francisco is also an interesting place for workers who eventually want to do their own startup: rich networks of talent and capital are useful at the seed stage as well. Hotel tech companies based in SF: Revinate’s CRM and email marketing software helps hotels develop long-lasting relationships with guests through targeted marketing, personalized campaigns, and deeper guest insights. Highlighting the value of being near other companies in the vertical Revinate recently announced a partnership with SF-based Duetto to allow hotels to use Duetto to price upsells dynamically in Revinate. Duetto is a full-stack revenue management technology. The company‘s Revenue Strategy Platform optimizes revenue and profitability across channels. This singular focus on total profitability underpins Duetto’s philosophy of Total Revenue Management. Sojern helps hotels marketers segment audiences and identify the best channels to advertise on. The company, which recently celebrated its 12 year anniversary, moved into new offices last year to accommodate its continued growth. Frontdesk Anywhere is a complete hotel management software suite that facilitates the guest journey from the initial online booking process through arrival, onsite operations and checkout.  Autoclerk serves hotels with property management and central reservation systems as well as a booking engine. It’s an end-to-end solution for booking guests, managing reservations, and operations. In a surprise move, BestWestern is the new owner of Autoclerk and promises to continue investing in the platform. MS Shift solves several operational issues for hotels: concierge management,  luggage tracking, front desk management, asset tracking, and maintenance/engineering management, among others.  Salesforce is the granddaddy of enterprise technology. It's fully-customizable CRM and sales software is widely used in the hospitality industry.  HelloShift is an easy-to-use messaging platform that enhances communications among staff as well as between staff and guests. With its combined approach Helloshift can become a hotel’s communications backbone. The company was recognized as the top staff collaboration platform in the 2018 HotelTechAwards. Medallia is a Customer Experience Management company that solves the problem of uneven feedback: it’s not easy to gather customer feedback across online and offline and transform them into something relevant and useful. Suiteness has an unexpected take on hotel bookings: it offers only suites. The value proposition extends to groups as it also empowers travelers to book connecting suites so that groups can stay together. Suiteness integrates with DHSCO and SynXis to expand access to the unique inventory.   Amsterdam: Focus on the Booking.com Alumni and Partner Networks Amsterdam is another great European city from which to base your hotel tech startup.  Data from Startup Europe found that Amsterdam’s share of Europe’s venture financing was EUR 1.67 billion. Amsterdam also has an added advantage: It's the home of globally-recognized behemoth Booking Holdings. The company, best known for Booking.com, employs thousands and will soon move into a high-profile new headquarters building. The steady growth of the company means that there is a sizable local population with the knowledge of travel and hospitality. The population is also highly fluent in English, which makes Amsterdam a city with solid international bon afides. Hotel tech companies based in Amsterdam: HotelChamp is a website experience and marketing optimization tool for hotels. When deployed on a hotel’s website, the toolset boosts direct bookings by adding a layer of personalization and segmentation. The latest tool, called Autopilot, leverages millions of data points to optimize a website in real-time.  Oaky unlocks pre-stay up selling so that hotels can offer room upgrades and other products prior to arrival. The solution improves profitability-per-booking before a guest even arrives on property. Oaky was awarded the top upselling and merchandising solution at the 2019 HotelTechAwards. 4Suites solves the keyless entry problem for hotels. It's smart access technology simplifies hotel operations, reduces costs and upgrades the guest experience. iReckonU sits at the core of your hotel’s tech stack to pull in data from other tools to reveal new insights and to enrich guest profiles. This “guest experience framework” improves the efficacy of marketing while also putting operations closer to guests. Hoteliers.com combines all distribution channels into a single view which reduces complexity and increases control for independent hoteliers looking for an affordable-yet-powerful channel manager. Olery solves reputation management for hotels. The system captures reviews from over 100 channels, and pulls them into a single interface for hotels to handle quickly and efficiently. It also has an analytics and marketing component to give hoteliers tools to improve and promote its reputation. Olery’s latest report dives into reputation in the Middle East.   New York City: Focus on Marketing NYC is a fantastic place to run a hospitality technology startup. The city has one of the highest concentrations of hotels in the world, which puts your startup close to many potential customers. The city is also one of the global hubs for media, which may have something to do with the over-indexing on start-ups with a hospitality marketing focus. New York is also home to Voyager HQ, a hub for a global community of travel and hospitality tech startups. The co-working space is home to many startups in the industry and often hosts meetups and networking events that provide a solid base for its startup community.  As European companies hit scale they tend to make New York their first foray into the U.S. market as evidenced by Triptease and Mews Systems both sending their founders overseas. The flight between NYC and London is pretty manageable and so is the time zone - what better launchpad for world domination? Hotel tech companies based in NYC: Travel Tripper provides distribution and marketing support to everyone from small independents to major brands.  Hotels looking for an all-in-one marketing partner should look no further since the firm has it all: Booking Engine, CRS, Digital Marketing Services and Hotel website development.  With freshly infused Accel-KKR capital Travel Tripper merged with Pegasus and now provides additional business intelligence and GDS services. InnRoad is a popular property management system for small properties and boutiques. HeBS recently rebranded as Next Guest with the integration of Serenata Intraware’s CRM technology.  While Serenata remains run out of its Germany headquarters NY provides the mothership and HeBS’ bread and butter is still digital marketing. TravelClick was recently acquired by publicly traded travel tech behemoth Amadeus and while Amadeus is run out of Spain, we imagine that it’s New Hampshire based hospitality division is going to get a little FOMO when they see their sister company’s New York City digs. Volara provides voice recognition software to hotels solving for the challenges of systems integrations and cyber security - giving hotels the ability to install turnkey Amazon and Android devices in their rooms. ALICE was one of the first company’s in the market to “make hotel tech fun again” lead by marketing guru Alexander Shashou and technical savant Dmitry Koltunov - the firm is an unstoppable force in the hotel operations space. LaaSie.ai (formerly Stay Wanderful) is a lesser known direct booking platform providing a network of merchant partnerships that can be leveraged to increase hotel website conversion and ultimately drive more direct bookings.  LaaSie recently rebranded and similar to Travel Tripper above was originally funded by NYC based Highgate Ventures. SEVENROOMS is a restaurant software company that provides CRM and guest management services to dozens of hotel restaurants around the world. Bizly is a meeting booking platform that helps corporate meeting planners find the best venues for small breakout meetings (i.e. hotels). Los Angeles/San Diego: Focus on Messaging Long known as the entertainment capital of the world, LA has emerged as a tech hub in its own right. Part of this is due to its status as a (slightly) more affordable option for SF startups. Another part is due to the convergence of technology and entertainment; as more startups emerged to build technologies underpinning next-gen entertainment, it naturally created a local base of tech talent. Another reason for the rising popularity of southern California as a technology hub? Clearly it's the weather! But the preponderance of sunny days, many weather-weary San Franciscans and New Yorkers have made the move. By the influx, the city intense relative affordability compared to cities of the same size and scope. Coupled with the great quality of life, southern California has become quite the contender on the global tech stage. Socal is an hour flight to both a hotel hub and tech hub, Las Vegas and Silicon Valley respectively. Hotel tech companies based in Los Angeles/San Diego: INTELITY’s guest engagement platform bridges across departments to connect staff with guests across text, voice, and digital channels. The company also offers an hotel operations platform for staff management, That includes recorder and task management, as well as analytics. INTELITY recently merged with KEYPR to expand its reach and reliability worldwide. Cloudbeds provides a booking engine, channel manager, property management system, and revenue optimization tools for independent hotels, boutiques, B&Bs, and hostels. The comprehensive hotel management solution was named a finalist for the People’s Choice Award at the 2019 HotelTechAwards. Whistle’s guest messaging technology simplifies communications so that staff can respond to messages in real-time from a single dashboard, regardless of whether the message is an email, website chat, or text message. For the second year in a row, Whistle earned the top spot as the #1 messaging platform on HotelTechReport. ResortPass has raised more than $12M to help hoteliers grow revenue by selling premium access to luxury amenities like the pool and spa during off-peak hours.  The Company is based in Santa Monica and works with top tier hotels like the Viceroy Santa Monica and W Hollywood. TrustYou While they are headquartered in Munich, Germany, TrustYou set up shop in San Diego, CA back in 2014 in order to better serve the growing US hotel industry. Their 10 local employees support functions across all facets of the company including Business Development, Account Management, Client Success, Finance, and Marketing. Zingle is a messaging platform that connects guest and staff across channels and devices so that communications is always streamlined and never siloed. The company recently announced AI-driven Intelligent routing that analyzes a guest’s intent to intelligently (and automatically) route guest requests to the right department or person. GuestBook Rewards is a loyalty program for independent hotels. Guests have a choice of cashback, credits for a future trip, or a charitable donation -- an incentive model that sets GuestBook apart from its competitors.  The program has become the largest network of independents, with over 600 member hotels in 55 countries. GuestCentric gives hotels control over their revenues by solving the guest acquisition problem: with a CRS, a digital agency  The company was a HotelTechAward finalist in 2018. JDA Software’s revenue management solution solves the revenue management problem for hotels. Thanks to an advanced forecasting engine that includes consumer intent and price sensitivity, the software increases revenue and boosts margins. Clicktripz is a monetization platform for publishers. Using proprietary ad-serving technology, Clicktripz’s targeting and granular bidding means that publishers can efficiently monetize audiences by connecting them to suppliers and advertisers. Kallpod is a service tracking solution that encourages guests to call for service right from their table. Kallpod Pro extends this functionality with customizable buttons, a two-way interface for staff to talk to each other, and a data platform to assist with more intelligent staffing.

thumb description

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

by
Hotel Tech Report
4 days ago

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

thumb description

6 Must Listen Podcast Interviews For Hoteliers Interested in Tech

by
Hotel Tech Report
4 days ago

1. FOSSE creator Dave Berkus uses lessons from history to predict the future of hotel technology Listen now >   2. Freehand Creator and Angel Investor Roy Alpert on Using Technology to Create Revolutionary Hotel Brands Listen now >   3. Former Sabre Strategy Chief: Hotel Tech in Emerging Markets, Cyber Security in the Hotel Industry and the Future of GDS Listen now >   4. Cendyn Chief Sales & Marketing Officer, Tim Sullivan Talks Artificial Intelligence, Hotel Technology’s Place in Web 1.0 and Why Everyone is Wrong About the OTAs Listen now >   5. Triptease Founder Charlie Osmond Tells All: How his tech startup got into 12k hotels, raised $20M in venture funding and beat a $65B company Listen now >   6. Former Ruckus Wireless VP of Hospitality Ted Watson Discusses the Recent $800M Acquisition, Major Trends in WiFi Connectivity and the Critical Role HTNG Plays for Innovation Listen now >

thumb description

Registration is Now Open for the 2020 HotelTechAwards

by
Hotel Tech Report
2 months ago

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

Load more

Revenue Management Category Press Releases

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

By Hotel Tech Report
4 days ago

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

Registration is Now Open for the 2020 HotelTechAwards

By Hotel Tech Report
2 months ago

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

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

By Hotel Tech Report
2 months ago

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

Revenue Management Category Overview

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

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

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

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

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

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


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

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

Key Players:

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

Key Players:

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

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

Key Players:

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

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

Key Players:

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

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

Key Players: