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Everything You Need to Know About Hotel Revenue Management

by
Hotel Tech Report
11 hours ago

In this guide to all things revenue management, we’ll cover everything from the history of revenue management to the best revenue management software, career and education options, revenue management strategies and important terminology. Whether you're considering a career in hotel revenue management or have recently embarked on one, our guide sets you up with the foundation you need for a successful career in revenue management!   A Brief History of Hotel Revenue Management  Airlines were the first to understand the power of segmented pricing to yield more revenue than across-the-board pricing. It all started with American Airlines, who realized that there was more value to be unlocked by tiering pricing according to specific conditions, such as offering discounts to tickets that were booked more than 21 days in advance. It was about getting the highest “yield” by more efficiently and intelligently pricing its inventory. This concept was called yield management, a term coined by former chairman and CEO of American Airlines Robert Crandall, and became what Crandall called “the single most important technical development in transportation management since … deregulation.” Yield management is an inventory-centric approach that matches the right product in front of the ideal customer at the best price.  Both airlines and hotels have what's known as perishable inventory, or inventory that can’t be sold once a flight has taken off or the night has passed. But it wasn’t until the late 1980s when hotels caught on and larger brands began to experiment with yield management. Marriott was the first mover, adapting airline yield management strategies to the hotel business and seeing great returns, as Bill Marriott Jr., Chairman and CEO, Marriott International once said: “Revenue management has contributed millions to the bottom line, and it has educated our people to manage their business more effectively. When you focus on the bottom line, your company grows.” Once other hotel brands saw Marriott's success, yield management for hotels became a common practice across the industry. Hotels became more intentional about optimizing room revenues (pricing) and occupancy (bookings volume) through variable pricing strategies based on factors like demand, booking windows, and market conditions. Eventually, this evolved into a more comprehensive approach known as revenue management, which puts the consumer at the center of the equation. It’s based on the economic concept of “willingness to pay,” which is the maximum amount each consumer is willing to pay for any one unit, item, or service. Revenue management strives for better alignment between how a hotel room is priced and what a consumer will pay.  “Revenue management refers to a business practice designed to optimize the revenue potential of an asset through all market conditions.” -Revenue Matters And it’s more than just rooms: it’s also about maximizing a guest’s total spend on property. As we’ll see below, today's revenue managers must collaborate cross-functionally to implement a holistic strategy that delivers peak profitability rather than simply focusing on room revenue.   What is Revenue Management Today? A lot has changed since the first revenue management system was put into place in the late 1980s. Today's technologies are far more sophisticated, able to capture  and analyze massive datasets to deliver pricing recommendations in real-time. Given this complexity, today’s revenue managers are commercial leaders that bridge between marketing, sales and operations at your hotel. They act as the glue between departments to ensure that a hotel is getting the most it can from its asset across all market conditions, navigating an increasingly complex distribution landscape to optimize revenues. “Revenue management is selling the right room to the right client at the right moment at the right price on the right distribution channel with the best commission efficiency.” -Patrick Landman, Xotels In an ideal situation -- one that produces maximum revenue -- the hotel room is priced as close to that maximum amount as possible without setting too high of an expectation or sending prospective guests to a cheaper competitor. To determine the ideal price, revenue managers use an RMS (revenue management system) to analyze a hotel’s available supply, in-market and property-level demand, as well as a consumer’s price sensitivity and demographics such as business/leisure and loyalty/transient). Today's revenue managers need these four components to build the foundation for successful hotel revenue management: Compset: Competitors’ rates are also a critical input for setting the best rates, as those prices shape the consumer's perception of the “right price” for a given stay. Together, these inputs provide a valuable baseline for hoteliers to optimize rates.  Value analysis: A value analysis puts your property in context among your competitors by comparing its location, property amenities, bring quality and reviews against those of your compset. Once you can visualize value, you can better position your property in the eyes of potential guests. Rules and alerts: Technology empowers revenue managers with  automation. Most modern software allows you to set up rules and alerts to support your strategy in an automated fashion. These rules and alerts keep your strategy on track 24/7 and  make for a real-time responsive revenue management discipline. Routine and habits: Powerful routine and habits can be to unlock revenue management genius. Revenue managers with daily habits maintain visibility and control over their strategy and make tweaks on the fly to ensure alignment between property strategy and how your software functions.   Revenue Management Software and Solutions There are several categories of revenue management software that can power an optimal revenue strategy. Here's a look at some software you might want to consider for your hotel’s revenue management function. Revenue Management Systems (RMS): These all-in-one systems provide a comprehensive suite of tools to support your revenue management strategy. By bundling everything in one, RMS provides convenience and simplicity.  There's a single system to manage -- which streamlines daily operations, as well as training new staff. Key Vendors: IDeaS, Duetto, Atomize, Pace, BEONPRICE. Central Reservation Systems (CRS): The CRS centrally manages and distributes room inventory, rates and availability in real-time to both the hotel's website and third-party distribution channels (OTAs, GDS, metasearch). Key vendors: Pegasus, TravelClick iHotelier, Windsurfer, SynXis. Market Intelligence: Rate shoppers give you insights about how your local market is pricing their rooms. By keeping the pulse on competitors, you can use these insights to adjust your own pricing strategy within the context of wider market demand trends.   Key Vendors: OTA Insight (Rate Insight), TravelClick Demand360, SiteMinder (Prophet), RateShopper by RateGain, D-EDGE RateScreener. Parity Management:  When wholesalers distribute uncontracted inventory at lower rates onwards to OTAs, hotels may lose out on direct bookings.   so it's important to monitor how close your rates are aligned across channels. In today’s complex distribution landscape, maintaining parity is a constant battle for revenue managers. Key Vendors: OTA Insight (Parity Insight), TravelClick (Rate360), Rate Parity+ by RateGain, Triptease Parity Monitoring, Pegasus Rate Match. Channel Managers: The channel is a key part of an effective distribution strategy that prioritizes profitability. Proper channel management means balancing cost with access: to prioritize the lowest-cost channels while also ensuring that your inventory is available on the high-demand channels. Key Vendors: Cloudbeds (Myallocator), SiteMinder (Channel Manager), RateGain (RezGain Channel Manager), D-EDGE Smart Channel Manager. Business Intelligence:  Business intelligence software cuts across data silos to turn real-time trends and patterns into actionable insights. In combination with market intelligence, it gives revenue managers a complete data-backed toolkit for optimizing pricing strategy. Key vendors: HotelIQ, M3 (Insight), Scoreboard by Duetto, OTA Insight (Revenue Insight). Upselling Software: Upsells are a great way to boost revenue from existing reservations and play into the “total revenue” mindset of modern  revenue management. Upsell software makes it easy to implement upsells in guest communications. Key Vendors: Oaky and Nor1.   Jobs, Salaries and Opportunities for Revenue Management Professionals It's helpful to understand the various roles within revenue management, as well as their related salaries. It's also useful to understand the potential career paths and opportunities available to you as a revenue management professional. Common threads throughout each of these jobs are a data-driven mindset, a grasp of technology’s role in revenue management, and a collaborative approach to building bridges across departments. Here are relevant revenue management job titles, ranked by seniority, along with salary ranges pulled from Payscale and Glassdoor. Salaries can vary greatly depending on your location and work history, so consult Glassdoor, Payscale or another website to benchmark any offers you may receive! Revenue Analyst (sometimes a Yield Analyst): This position (usually more junior-level) is responsible primarily for analyzing historical data and demand forecasts through a financial lens to Make recommendations for improving revenue growth. Even though this role often uses software, it's exceptionally helpful to know your way around Excel! Many properties still rely on spreadsheets, so proficiency in traditional data analysis is a must. That's why many in this role have CPA credentials and a degree in finance or accounting. Most often promoted to Senior Analyst. [USD 40k-85k base salary plus potential bonus and profit sharing: Payscale | Glassdoor] Revenue Manager: A recent graduate or junior-level professional with a few years experience. Implements revenue management strategies and related processes to optimize revenue in a single hotel or across a portfolio. Scope includes  regular reporting, managing and expanding distribution partnerships, influencing across the organization, identifying new revenue opportunities, and optimizing processes and technologies for peak performance. Most often promoted to Senior Manager. [USD 40k - 75k base salary plus potential bonus: Payscale | Glassdoor] Cluster Revenue Manager/Area Revenue Manager: Larger portfolios will have  a revenue manager responsible for a cluster of hotels or hotels in a specific area. This person will do similar tasks as the revenue manager but expanded across a portfolio. This role requires strong collaboration and interpersonal skills to influence management in each individual hotel and align everyone with a shared revenue management strategy. Most often promoted to Senior Manager. [USD 50k-85k+ base salary plus potential bonus and profit sharing: Glassdoor] Director of Revenue Management: An experienced professional. Creates and implements revenue management strategy, often leading a small team of Revenue Managers. For smaller footprints, this role encompasses all revenue management tasks alongside the higher-level strategic role. The role can also encompass a cluster or single region. Most often promoted to Senior Director. [USD 70k-130k base salary plus potential bonus and profit sharing: Payscale | Glassdoor] VP of Revenue: Experienced and ambitious professionals often move up to the VP level in larger hotel brands. This role functions as an organizational cheerleader, developing relationships that keep revenue management at the Forefront of the organization. This person also manages revenue managers across a portfolio (and often geographies)  and must have nuanced people management skills to motivate those on the ground in different locations. There's also often lots of travel involved. [USD 91k-152k base salary plus potential bonus, profit sharing and stock: Glassdoor] Chief Revenue Officer (or Chief Commercial Officer): The zenith of a revenue management career could be as CRO/CCO. This prominent role leads sales and revenue management across an organization to deliver performance across a globally distributed team. It's an essential role that creates and drives strategy to meet or exceed revenue and profitability expectations. Sometimes this role reaches across an entire organization  or can be broken down by region, such as the Chief Revenue Management Officer, Americas. [USD 500k-800k+ base salary plus bonus and stock, based on public filings] A traditional revenue management career path would progress along the above list from top to bottom. As responsibilities increase, these roles have less defined edges. Top executives have more flexibility to craft roles ideally suited to their strengths  and different organizations have varying needs as far as which responsibilities top execs take on. Other potential career paths: Marketing: Since revenue management collaborates closely with marketing, those with strong data-driven digital marketing skills often make the jump over to the revenue management team (and vice versa). In many cases, having both a marketing and revenue management background provides a stellar foundation for entering into higher levels of management.  Operations: Those that also have experience on the operations side of the business are especially well-suited to moving up the ranks. That's because revenue management also requires buy-in from operations, as improved operational standards and service levels lead to better reviews, stickier loyalty, and higher rankings on OTAs. That’s a much easier path for more profitable distribution! Tech: There's also a well-worn path between hospitality revenue management and technology vendors.  with easily transferable skills, industry expertise, and a broad Network, revenue management professionals make great assets for hospitality technology vendors. If that's something that you are looking to do, be sure to nurture your network and develop the proper skills required for your target role.   Education Or Training Are Available For Revenue Managers  There's certainly a lot of powerful technology available to revenue managers. These tools can actually make it possible to learn on the job and, with enough dedication, to become relatively proficient at the job without formal training. Even so, revenue management is an analytical role with a foundation in statistics and math (and lots of Excel formulas!). For those looking to make this a career, it can be extremely helpful to have a formal degree that emphasizes your credentials --  especially if you're looking to go into a bigger global brand. There are also plenty of certifications that can boost your professional credibility without investing in a dedicated degree. Some options to consider: Dedicated degrees: For those just starting out in hospitality, it can make sense to invest in a dedicated degree. For those later in their careers, It may make more financial sense to pursue certifications, which we’ll cover below. The top three degree programs, covered below, offer not just top-notch education but also global alumni networks and helpful placement services to fast track your revenue management career:  Cornell: The School of Hotel Administration offers a 4-year undergraduate program in hotel administration, covering a core curriculum, electives (such as hospitality leadership and real estate), and 800 hours of real-world industry experience via the Statler Hotel, an on-site teaching hotel. Cornell also offers 2-year graduate degrees, Master of Management in Hospitality, Master in Real Estate and a Masters of Science, as well as a post-graduate PhD in hotel adminstration.  EHL: Based in Lausanne, the EHL is nearly always the number one or number two hospitality management school. EHL offers four degrees: a 4-year Bachelor in Hospitality, a 16-month Master in Hospitality (with courses spread across Switzerland, Hong Kong and the U.S.), an 11-month full-time Executive MBA in Hospitality, and an MBA in Hospitality that’s 80% online, 20% on-site in Switzerland.  EHL also has a new campus in Singapore that offers a bachelor’s degree with one semester in Switzerland, followed by an internship in a country of the student’s choice and then completing the degree on the Singapore campus.  UNLV:  Las Vegas is one of the world's premier hospitality destinations. There's a lot of situational value to be unlocked from  going to school in this environment. UNLV is also regularly recognized as one of the top hospitality schools in the world, due in part to its diversity of curriculum that includes casinos and gaming. For undergraduates, there’s the 4-year Bachelors in Hospitality Management, with concentrations in Gaming Management, Meetings and Events, PGA Golf Management Restaurant Management. For advanced degrees, there’s the 2-year Master of Science in Hotel Administration, the Executive Master of Hospitality Administration (with a focus in either hospitality or gaming), and a 2-year PhD program for hospitality management. For the ambitious post-graduates, there’s also a program to earn both an MBA and a Master of Science. Certifications: Continuing education doesn't necessarily require a full degree program. Many universities and organizations offer certifications and online learning that can help keep your skills sharp. A few to consider:  CRME: This is the formal Certified Revenue Management Executive certification from HSMAI, a global association of hospitality sales and marketing professionals. It's a widely recognized and trusted way to prove proficiency at revenue management. To be eligible for this degree, you must be an industry professional that can prove a certain level of expertise. Once approved, you’ll receive a study guide that covers the evolving dynamics of revenue management, which is the basis for an online exam that determines certification. The cost is $450 for HSMAI members and $625 for non-members.  CRM: Also by HSMAI, the Certificate in Revenue Management is a starter course for those just starting out in the field or current hotel staff considering a move into revenue. The online course covers the fundamentals of revenue management, from pricing strategy to forecasting, segmentation and business intelligence. The cost is $350 for HSMAI members and $500 for non-members.  Cornell: For those looking to take advantage of Cornell's reputation without having to take classes on site, there’s the Hotel Revenue Management certificate teaching the basics of revenue management and the certificate in Advanced Revenue Management covering segmentation, pricing decisions and revenue strategy. Both are two weeks and $3,600. For executives pursuing continued development, the university also offers a variety of other online-only certificates, ranging from leadership to F&B management, as well as three-day classroom programs. CHRM: The educational arm of the American Hotel & Lodging Association offers a course to become a Certified Hospitality Revenue Manager. The digital course is for those with at least 6 months experience or an advanced degree, and requires passing a 125 multiple-choice question online exam on forecasting and planning, strategies and tactics, statistical analysis, e-commerce and online distribution. The cost is $300 for AHLA members and $375 for non-members. ESSEC via Coursera: You don't necessarily have to go to a physical school to get the certification. This Coursera specialization, taught by professors from ESSEC Business School And created in partnership with Snapshot and Duetto, takes up to four months to complete and includes modules on hotel demand management, distribution and revenue management, as well as a case study. Students can audit the class for free but must sign up for Coursera’s $49/month plan to earn the official certificate for placement on resumes and LinkedIn.   An Overview Of Revenue Management Strategies  Revenue managers use data from business and market intelligence tools to craft strategy and then leverage software to implement the best tactics and pull the pricing levers based on actual/forecast demand. Revenue management strategies are often blended depending on the properties priorities and current market conditions. No strategy is ever static; here are a few jumping off points for developing a property/brand-specific strategy. Yield management. As we saw earlier, hotel yield management is a strategy for pricing inventory according to demand in order to control profitability. As a subset of revenue management, it focuses exclusively on finding your hotel’s optimal balance of supply and demand for its rooms, or the point where prices perfectly match traveler demand. Proactive versus reactive. Proactive revenue management is seeking to be a market leader and leveraging historical data and future forecasts to proactively stay ahead of the competition. Whereas reactive revenue management is being a market follower and setting rates according to the competition. For instance, setting a rule to always undercut competition by 5% and using what's known as penetration pricing, or positioning your hotel as the cheapest in the market. Strategic versus tactical: Another way to look at proactive versus reactive is to think strategically versus tactical. Strategic revenue management proactively uses a sound revenue management strategy to shape all pricing and distribution decisions. Tactical revenue management is about reacting to changing market conditions with specific tactics, such as using discount pricing to boost occupancy by dropping rates or through automatic rules that adjust pricing based on specific events (competitor drops rates) or thresholds (forecasted occupancy dips below a certain percentage). Tactics generally cascade up to an overarching strategy. Open pricing. Traditional revenue management relied on static prices, using the Best Available Rate as a basis for discounts or premiums. It was fixed, inflexible and poorly optimized. Thanks to AI-enabled revenue management software, it's now possible to adjust pricing in real-time for specific segments and channels. This tech is also enabling personalized pricing, where offers are targeted down to the individual guest level. Segmentation is a key part of open pricing; revenue managers must have a thorough grasp on the nuances of their guest demographics and channel mix to fully leverage open pricing. Direct bookings. Most hotels are focused on a “direct is best” revenue strategy because hotels keep more of every booking that comes direct versus third-party. In addition to carefully managing the channel mix, as far as availability, rates, and inventory, other tactics for this strategy include encouraging positive reviews to build online reputation and WOMM, capturing more bookings direct by offering special packages or other incentives and using hotel software that optimizes marketing funnels. Channel-based. As software becomes more capable, it's much easier to create a channel by Channel revenue strategy that prioritises the lowest-cost channels and  limits inventory on channels that produce less-profitable bookings. There’s plenty of nuance here, but it's easier than ever to quickly open and close channels depending on changing demand forecasts.  A channel-based revenue management strategy is ideally suited to today's “total revenue” and “total profit” mindset.  Total revenue management. Last but not least is something that we've mentioned a few times: total revenue management is a strategy that optimizes all aspects of a hotel's operation for profitability. It combines collaboration across departments with data-driven insights to deliver results.   Consulting Services Available To Hotel Groups  There are two options for hotels looking for outside help with revenue management: a consulting firm or a freelancer. Much of the decision will come down to price. Also, look for specific experience in your hotel’s category, solid client testimonials, and a data-driven approach. While there has been a rise in capable revenue management professionals going freelance on a contract basis, larger hotel groups may prefer to engage the services of a bigger firm with larger staff and broader capabilities, such as branding, marketing, social media and PR . Of course, that usually comes at a higher cost!  Here are a few firms and freelancers to get your search started. Another great place to find recommendations is with dedicated hotel organizations, such as the AHLA and HSMAI, who keep lists of members in related revenue management fields. Firms: Revenue By Design: Based in the UK, Revenue by Design offers training programs, outsourced revenue management services, and revenue/distribution audits to hotel clients across categories and geographies. Xotels: As a boutique hotel consulting company, Xotels consults independent hotels on several areas of expertise, from operations to sales and marketing to revenue management, finance, pre-opening, and brand positioning. Revenue Matters: Led by Trevor Stuart-Hill, an HSMAI Top 25 mind in hospitality sales and marketing, Revenue Matters  helps clients build a holistic approach to optimizing Total Property performance, aligning across marketing, sales, and revenue. Engagements can be strategic or full-service revenue management support.  berner+becker: The firm optimizes existing revenue management strategies through extensive audits, as well as create custom revenue strategies that can either be implemented by clients or by the firm itself. Kalibri Labs: Founded by Cindy Estis Green, who previously founded a data mining consultancy sold to Pegasus, Kalibri Labs provides revenue management consultation to hotels worldwide. It also has a proprietary revenue strategy platform that uses data from 33,000 hotels to drive its analysis and recommendations. Revenue Acrobats: Silvia Canteralla began her revenue management career in 2004 at a major international chain. Her services range from total revenue management, including dynamic pricing and forecasting, to optimizing F&B, group, and catering revenues. HotelRevBaba: Sunil Singh has 10 years of revenue management experience. He provides revenue strategy and planning services, as well as strategic support across the entire hotel operation, from pre-opening plans to budgeting. kbb consulting: Kathryn Baker started her revenue management career at Westin, eventually  transitioning into roles at Starwood and Intrawest Corporation. Since 2007, she has consulted on revenue management strategy  across a broad client base, from small properties to full-service multi-unit resorts. RevMutu: Kammelh Kishorre Founded his consultancy in 2012 has over 15 years of experience in hospitality and revenue manager within India and internationally. His services include audits, training, digital marketing, revenue management and channel distribution.  RevUp: Robert Lewis Sudakow uses his background in revenue management, ecommerce, sales, distribution, and digital marketing across multiple markets to advise properties and luxury resort, urban, corporate, boutique, and conference center categories.   Key Revenue Management Terminology, Jargon and Benchmarks Revenue management can be a confusing area of the industry, with plenty of jargon. As you get started with your revenue management career, become familiar with these essential revenue management terms. We’ve also included some helpful industry benchmarks to provide a deeper foundation of understanding. The most common metrics used to measure hotel performance: Average Daily Rate (ADR) shows a hotel’s pricing trends over time. It's especially helpful when benchmarking price competitiveness and pricing trends against other hotels. Average length of stay (ALOS) is the average amount of days stay at the hotel during a particular period. Booking window, or how far in advance guests make bookings. Booking window acts as an anchor for making pricing decisions, as booking patterns  Cost of Acquisition shows you how much it costs to acquire a booking, such as paying a channel or travel agent’s fees and commissions. Occupancy rate shows the percentage of rooms filled in any given period. It's a measure of demand.  Revenue per available room (RevPAR) tracks how much room revenue is earned per available room in the hotel. It’s rooms revenue divided by rooms available. Recently, TRevPAR has gained popularity, as it divides a property’s total rooms and non-rooms revenue by rooms available to track “total revenue.” Other revenue management terminology: Allotment: Refers to any block of  pre-negotiated rooms purchased and held by a third party, such as an event organizer, wholesaler, operator, travel agent, or OTA. Best Available Rate: The base rate from which other segments are priced. Commissions: Amount paid to intermediary for each reservation made. Comp set: This is the competitive set of similar hotels that you benchmark against.  Days Before Arrival: Number of days before guest arrives. Displacement Analysis: Calculating the cost of accepting group bookings today compared with the loss of potential full-price bookings  at a later date. Fenced rate: Rate with specific limitations, such as no refunds or cancellations.  GDS: The Global Distribution Systems (Amadeus, Sabre, Travelport) connect travel buyers and suppliers in a centralized interface, charging access and per- transaction fees. Market share:  Percentage of local market your hotel has compared to the competition. Online Travel Agency (OTA): Digital-only travel seller, such as Expedia and Booking.com, that offers booking directly to Consumers and business travelers. Pace: Being “on pace” means that bookings are happening as expected and on track for meeting booking targets and/or demand forecasts for a particular date. Price Elasticity: How responsive demand for your hotel is based on changes in its price, as in does demand drop when prices increase? More on price elasticity in the hotel industry. Rate Parity: Strategy for maintaining the same rate across all channels; rates are the same, they are in “parity.”  Segment: A subset of either past guests for potential guests used for marketing purposes, often derived from a hotel’s CRM data or digital marketing campaigns. Shoulder Date/Season: Time in-between busy seasons or busy periods, such as weekdays or the fall/spring. Benchmarks/Statistics Customer acquisition costs: These benchmarks show how customer acquisition costs affect revenue performance. Recent data from Kalibri Labs Shows that hotels keep the following amounts of every dollar paid by a guest: 97.3% from property direct, 93.4% for brand.com bookings, 94.5% from group bookings and 83.4% from OTA bookings.  Impact of loyalty bookings: Loyalty continues to be a great source of business for hotels. In 2019, according to Kalibri Labs, total US loyalty contribution increased to 56.2%, which is up 17% since 2016, when book direct campaigns began. The power of reputation: Another Kalibri Labs data analysis found a correlation between review score and ADR: in 2019, properties with lower consumer review scores saw decreases in ADR. Channel mix: Each country has its own consumer preferences as far as where they book travel. To see the top revenue makers in different countries around the world in 2019, SiteMinder’s annual review breaks it down.  Cancellation rates: D-EDGE found a 40% cancellation rate in 2018, with Booking.com having the highest cancellation rate of OTAs: 50%. Another win for direct bookings, cancellations from a properties website where the lowest at 18.2%. We hope that this guide was useful as you embark on your path to becoming a rockstar revenue manager. We’ve got plenty of resources on our blog, which covers all aspects of hotel life, from operations to revenue management. Wherever you are in your career, you’ll want to stay on top of how the latest trends will impact our interconnected industry --  and what you need to do to maintain competitiveness in both the near and long-term.  

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OTA Insight Achieves Level III Global Support Certification

by
Hotel Tech Report
3 weeks 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 (English, French, Dutch, Spanish, Italian, German, Bulgarian, Russian, Czech, Belorusian, Xhosa, Swedish, Norwegian, Slovak, Portuguese, Chinese, Romanian, Taiwanese)  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/

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Atomize Achieves Level I Global Support Certification

by
Hotel Tech Report
1 month 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 (English, French, Dutch, Spanish, Italian, German, Bulgarian, Russian, Czech, Belorusian, Xhosa, Swedish, Norwegian, Slovak, Portuguese, Chinese, Romanian, Taiwanese)  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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5 Things You Need To Understand About Data Science

by
Hotel Tech Report
2 months ago

It takes years of study and multiple degrees to become an expert in data science – time that hotel industry professionals don’t have. But, understanding the basics of data science can increase profit at your property with very little studying required. The latest hotel technology, like a smart revenue management system, makes data science accessible – and even easy – to hotel owners and revenue managers, no matter what your level of expertise. This guide will take you through the elements of data science that apply to running your property more profitably, starting with a quick overview of what data science actually is. We’ll show you how a revenue management tool can utilize machine learning to make the more technical aspects of data science easy for your managers. Read on to learn how to use data science to take advantage of customer data, pricing trends, and industry data to increase profit.    What is Data Science? Data science is the practice of extracting information from data. Data science involves analyzing large amounts of data through programming and data mining to uncover useful insights and intelligence for an organization. There are five commonly accepted phases to the data science life cycle. They are:  Capture: data is acquired or extracted (for example, Google Analytics logs the number of unique visitors to your hotel website);  Maintain: data is cleaned and stored in a data warehouse (Google Analytics stores the number of unique visitors over five years);  Process: data is classified, modeled, clustered and/or summarized (Google Analytics can reorganize unique visitors by time of day, geographic location, and referral source); Analyze: through predictive analysis, regression, qualitative analysis, or other (Google Analytics can tell you where your bounce rate might be causing you to lose unique visitors);  Communicate: insights are reported and used for business intelligence and decision making (Google Analytics reporting can tell you whether a marketing campaign is adding unique visitors to your website) Data science is an increasingly popular field due to the rise of big data. Big data describes the large volume of structured and unstructured data that a business collects every day. Data scientists analyze big data in order to provide hotels with insights to beat competitors, learn about their customers, and run targeted marketing and pricing campaigns.    What Does a Data Scientist Do? If the description of data science sounds broad, that’s because it is. Data scientists perform a wide range of data-related tasks, from “optimizing Google search rankings and LinkedIn recommendations to influencing the headlines Buzzfeed editors run,” writes Harvard Business Review. Generally speaking, data scientists go through this process to analyze big data:  “First, data scientists lay a solid data foundation in order to perform robust analytics. Then they use online experiments, among other methods, to achieve sustainable growth. Finally, they build machine learning pipelines and personalized data products to better understand their business and customers and to make better decisions. In other words, in tech, data science is about infrastructure, testing, machine learning for decision making, and data products.” Data scientists are in high demand. LinkedIn ranked data scientist as “the most promising job of 2019.” Data scientist topped Glassdoor’s list of the ten best jobs in America. Data from Indeed’s job openings show data scientists can earn between $86,000 and $123,000 per year. Often, the terms “data scientist” and “data analyst” get used interchangeably, but these roles are slightly different. A data scientist focuses on creating the questions; a data analyst focuses on answering an existing set of questions. For instance, a data scientist tries to estimate the unknown with statistical models and predictive analytics. They mine existing data points from your hotel’s CMS, PMS, marketing campaigns, and more to shed light on areas like customer behavior, operational efficiency, pricing, and demand forecasting. A data analyst, on the other hand, might dive into big data to answer a specific question, such as “why did my RevPAR drop in the third quarter?” Analysts are more focused on solving problems than data scientists.    How is Data Science Different from Machine Learning and Data Analytics? Things get even more complicated when you add the field of machine learning into the mix. Machine learning deploys algorithms to extract data and to forecast future trends. Machine learning is a subset of data science; the rise of big data means that data scientists can’t efficiently manipulate data sets by hand anymore. Machine learning processes data sets autonomously so that data scientists can focus on the bigger picture. Machine learning can be seen in everyday life; Netflix uses machine learning to recommend new shows and movies based on your viewing history. Facebook uses machine learning to predict interests, recommend friends, and notify you of potential pages to follow based on user behavioral data. Amazon uses machine learning to recommend products based on your browsing and purchase history. Machine learning also plays a big role in the hospitality industry, specifically in advanced revenue management systems. An RMS like IDeaS G3 utilizes machine learning with statistical methods to produce cutting-edge forecasting and decision optimization. IDeaS’ algorithm factors in data from competitor rates, search penetration, booking trends, and optimization scores to power a continuous pricing model. The tool can automate many of the tasks a data scientist would have had to perform manually; the pricing model pulls information to continuously update pricing decisions based on the latest information.    How Can Hotel Groups Leverage Data Science? Smart pricing is just one instance where data science can make a big difference in your profit margin. Yield management is a similar process that involves the use of dynamic pricing to control profitability around fixed inventory supply. Yield management is tricky: set your rates too high, and demand drops. Set your rates too high, and you sacrifice revenue for volume. IDeAS’ can overcome these challenges by using machine learning to forecast demand. The tool looks at patterns in historic data from your properties and the market at large. It then forecasts demand for smarter rate recommendations, which can be automatically applied in real-time to keep inventory priced optimally. “IDeaS revenue management systems do more than determine the best price, they also provide hotels with the power to yield and analytically price by room type and determine the most profitable group business to accept,” writes one reviewer. Data science can also drive smarter customer segmentation and marketing automation. A typical marketing tool like Mailchimp can’t automate segmentation – meaning the platform can’t decide when is the best time to send an email to a specific guest category. Only a platform that uses data science can factor in existing data points, such as recency, frequency, monetary value, and length of stay, to time the right message to the right audience perfectly. “For example, if a hotel targeted guests who would likely take advantage of spa services, golf and restaurants, rather than guests who only generate room nights, they could significantly increase revenues and profitability. Unfortunately, money often gets spent on blanket campaigns that don’t target individual guests or segments with offers they’re most likely to respond to,” writes one industry analyst. Getting more targeted with data science helped Starwood Hotels determine how to get the best value out of translation services for its property websites worldwide. Starwood turned to data scientists to determine if it was worthwhile to spend time and resources translating some of their branded websites into certain languages. They used a model that weighed revenue over two years versus the full on-going cost of translation at the market level. The formula delivered huge business results – up to 97% more revenue, according to Skift. Data mined from your website can be used to improve conversion rates by experimenting across a range of user experience variables, as Skift’s example conclusively proves. A data science approach can successfully improve conversion rate optimization. Through experimentation, a manager can learn which metrics to influence to test different landing page configurations, analyze the data, and repeat. Test each aspect of your website experience, from the headline to the size of the “Book Now” button, to make sure every design detail is primed for conversion. Finally, market intelligence data, from competitors’ RevPAR, occupancy rates, and average daily rates from STR to event data and rate parity data, is critical to optimize how you price your rooms. Rate parity is the difference between prices quoted on a hotel’s branded website compared to prices quoted by an OTA. This data set is often obscured by non-contracted OTAs and other third parties. Rate shopping tools serve to mitigate this issue by showing how your direct competitors are pricing their rooms.    You Don’t Need to be a Data Scientist to Embrace Data Science at Your Hotel Being a data scientist takes years of training. Instead, IDeaS revenue solutions can give you immediate strategic advice and tech tools to improve your revenue management. Learn from their team of data scientists and use their software to perform analyses that would otherwise take a Ph.D. to accomplish. Here are just a few of the features a revenue management software can offer:  Demand-based pricing by room type: when demand for your suites rises, automatically increase the price of a suite without also increasing the price on a double room. Virtual Revenue Management Service: get an assigned  industry revenue expert to work directly your staff to accelerate your revenue strategy Continuous pricing: the tool mines search penetration, competitor rates, booking trends, and reputation scores, to forecast demand, continuously updating as new data comes in  Rate publishing: consistently and accurately update rates across channels to achieve the highest booking value at the lowest acquisition costs, with no manual updating  Work with limited data: if your data sets are limited, IDeaS can clone data from existing hotels to provide baselines for demand and predict guest behavior. As a hotelier, it’s important to understand the basics of data science. Leave the actual data science up to a firm like IDeaS with dedicated data science teams that can deliver solutions for all of your data needs.  

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

by
Hotel Tech Report
2 weeks ago

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

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Revenue Management Category Press Releases

OTA Insight Achieves Level III Global Support Certification

By Hotel Tech Report
3 weeks 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 (English, French, Dutch, Spanish, Italian, German, Bulgarian, Russian, Czech, Belorusian, Xhosa, Swedish, Norwegian, Slovak, Portuguese, Chinese, Romanian, Taiwanese)  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

By Hotel Tech Report
1 month 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 (English, French, Dutch, Spanish, Italian, German, Bulgarian, Russian, Czech, Belorusian, Xhosa, Swedish, Norwegian, Slovak, Portuguese, Chinese, Romanian, Taiwanese)  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/

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

By Hotel Tech Report
2 weeks 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
9 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
8 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: