Hotels are Focusing on Technology to Assist With Revenue Growth

Technology has been a leading driver for change in the hospitality industry for well over a decade. Changing traveler preferences and digitization of services has made hospitality more efficient and insightful. 

Hoteliers have already utilized technology for dynamic pricing and demand forecasts, Jason Freed mentions in his article on HotelTechnologyNews. It is in the wake of the pandemic that hotel operators are discovering the immense potential of data, digital services, and revenue management to enhance revenue. 

Revenue management has become a highly tech-focused function that requires professionals with specialist expertise to make sound pricing and costing decisions. Technology is allowing hoteliers to accomplish multiple functions making them smarter and efficient. 

Automation is already making the booking process simpler to manage through cloud based PMS solutions. Management of available rooms and pricing is automated with fewer errors and allowing for fewer cancellations. 

Cloud based PMS also allows staff to be more efficient at the front desk and with contactless check-in they don’t have to be needlessly standing up front as guests use touch based scheck-in tools. 

QR codes are a very popular technology that hotels are integrating in the US post-pandemic. Being both cost-friendly and simple to use, QR codes have already made breakthroughs for popular hospitality providers. 

QR codes not only make it convenient for guests to check-in & check out with a simple QR code scan, they can also browse through other hotel features. 

For instance, Tetherow resorts are deploying a leading edge QR code system that will allow guests to check-in & check out faster, while also providing room service, restaurant reservations, spa appointments, and concierge live chat through simple QR code.  

Many hotels are already deploying mobile hotel management apps, like the breakthrough ALICE platform, to enhance staff productivity and guest satisfaction. Hoteliers can manage bookings, check-in & check out, payments, room service, and other services remotely while guests enjoy the same premium services.  

Franchise hotels like the Marrit and Hilton have already established that guest mobile apps and QR code services enhance in-room revenue. Upselling and cross-selling in house amenities becomes easier for hoteliers as they can deliver promotions and offers directly to guest smartphones at the right time. 

Data analytics, as we discussed above, are taking to hospitality businesses like a storm. The availability of Artificial Intelligence and data analysts today are allowing hoteliers to discover interesting insights about their assets.  

The availability of real time data insights allows hoteliers to identify unique audiences by demographics and geography, allowing them to market to a larger market segment. Actionable data allows hotel managers to identify seasonal trends and holiday weekends to enhance their marketing efforts. 

One of the popular concepts in business management is the optimization of customer lifetime value. Hoteliers can then spend more effort on delivering services that will have a larger impact on revenue.

Data insights about technology systems and services also allows the revenue manager to identify predictive maintenance requirements. This simple concept allows the hotel manager to identify hardware and software maintenance before a problem occurs in hotel technology systems. Not only does this reduce the costs of maintenance, but also enhances hotel revenue with better maintained technology. 

Conclusion 

Moving into 2022 hotel operators are increasingly investing in technology to enhance their revenue. Technology management is allowing hoteliers to radically enhance guest service quality and increase revenue from their existing tech stacks. 

Get in touch with our team to learn more how technology can reduce operational costs and increase revenue in your hotel. Our teams are available over email [email protected], over the phone 510-900-5990 and 24 hours over our website’s Live Chat feature.   

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