F&B, M&E, Ancillary Revenue

Think outside the guest room… Discover the leading tech and best practices to apply data-driven intelligence and achieve total profit optimization.

Transforming Hotel Operations: How Automation Unlocks New Levels of Efficiency and Profitability

The hospitality industry stands at a pivotal moment, defined by rapid technological advancements and evolving market dynamics. The age-old practices of labor management, once the cornerstone of hotel operations, now fall short in meeting the demands of a fast-paced world. This calls for a paradigm shift: from perceiving labor as a mere expense to be minimized, to recognizing it as a key strategic asset capable of elevating the guest experience and boosting hotel profitability.

Building a Must-Experience Hotel Restaurant That Builds Loyalty and Drives Revenue

In the dynamic realm of hospitality, the role of a hotel restaurant extends far beyond just being a convenience for guests; it is a pivotal touchpoint in the guest journey, a significant driver of revenue, and an opportunity for profound engagement with both local and visiting patrons. The transformation of a hotel restaurant into a destination in its own right, hinges on a strategic blend of culinary excellence, ambiance, marketing acumen, and operational efficiency. This synergy is not merely about serving food but about crafting an experience that resonates deeply with guests and locals alike.

From Fear to Opportunity: The Strategic Shift in Hotel Automation

In the fast-paced world of the hotel industry, automation has emerged as both a lighthouse of efficiency and a source of apprehension. While the benefits of automation in streamlining operations and enhancing guest experiences are widely acknowledged, fears surrounding its implementation and impact on the workforce often hold hoteliers back. This article aims to offer a new perspective on automation, addressing common concerns and highlighting the strategic advantages it brings to the hospitality sector.

Reducing Procurement Fraud Risk in Hospitality With Procure-to-Pay Automation

When it comes to fraud risk, one area of particular concern is procurement. In recent years, hotels have faced myriad challenges, including supply chain disruptions, economic volatility, and labour shortages. As travel volumes rebound, many hotels are concentrated on meeting evolving consumer expectations while ensuring financial stability. This focus means that many hotels are lacking in their procurement due diligence, creating lucrative opportunities for fraudsters. It’s estimated that hotels lose between 5% and 6% of their annual revenue due to fraud.

Here’s What Happens When Venue Software is Scalable (& When it’s Not)

Ever wondered what stands between your venue and its next big leap? The answer might surprise you. According to a McKinsey study, the culprit could be your software. Non-scalable software might be silently eating away anywhere from 8% to 28% of your potential revenue.

Data-Driven Hospitality Success: Empowering Decisions & Guest Experiences

Leveraging actionable insights is like having a superpower for any hotel business—it’s the key to boosting profits, optimizing distribution, and making sure every guest has a memorable experience. But here’s the thing: getting those insights isn’t always a walk in the park. It’s more like putting together a complex puzzle, with pieces like data collection, analysis, and using that information to make smart decisions. In today’s fast-paced hospitality world, having a solid data ecosystem is crucial for staying ahead of the curve and giving guests what they want. So, let’s dive into how hotels can build a robust data infrastructure that can deliver the kinds of insights that will keep guests happy and coming back for more.

The Role of USALI and Operational Benchmarking in Financial Management

Operational benchmarking is a crucial practice in today’s volatile, uncertain, complex, and ambiguous (VUCA) world, especially in industries like hospitality. In the hospitality sector, the Uniform System of Accounts for the Lodging Industry 11th edition (USALI™) serves as a standardized framework, enabling hotels to utilize operational benchmarking effectively to assess and enhance their financial performance. When hotels adapt USALI™ reporting, leveraging its structured approach, they can compare their financial performance against industry standards and competitors.

Next Up: Turn Your 2024 Budget into a Dynamic Hotel Forecast

As hospitality businesses navigate a “new normal” in 2024, many of the top owners and operators have shifted focus from traditional annual budgeting to a more dynamic and responsive forecasting approach. In the wake of an uncertain economic outlook and ongoing challenges, many are recognizing the need for continuous attention to their hotel forecast, utilizing real-time data and technology to make smarter budgeting decisions. Let’s explore key budget and forecasting strategies to guide you in 2024.

The 2024 Group Business Forecast: Trends to Help Hotels Capitalize on the Back-to-In-Person Boom

Group business is back in a big way. In-person events are returning to their pre-COVID normal pace. In 2024, 81 percent of meetings will have an in-person component in them. A recent study by Deloitte anticipates that by 2024, business travel spending will return to its level before the pandemic. This view is echoed in Accor’s data, which shows in their latest survey regarding client business travel that 57 percent of those surveyed anticipate a budget increase for travel in 2024 compared to 2023.

Improving Hotels’ Operation Efficiency: A Data-Based Process Optimization Approach

In the dynamic hotel sector, operational effectiveness is paramount. Maintaining competitiveness and providing top-notch service requires utilizing data-driven initiatives. While hotels adapt to this rapidly changing environment, it is evident that one major driving factor toward increased efficiency and better guest experiences is the employment of data-driven techniques. Thus, at its core, this combination of process optimization and operational excellence becomes essential in staying competitive and offering excellent service.

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