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The underappreciated city of Minneapolis served as host for the 2019 edition of HITEC (produced by HFTP) which wrapped up its most recent four-day run on June 20, 2019. In the days and weeks leading up to the event, meeting solicitations and party invites filled my inbox at a growth rate any VC or entrepreneur would envy. As a first-timer to this international hospitality technology behemoth, it became apparent that HITEC actually begins a few weeks prior to when that first request or invitation lands in your over-stuffed inbox.

Time is limited. Once it’s gone, you can’t gain it back. Similarly, once a room goes unsold for a night, it will go unsold forever. There’s no way to recover that loss, because there’s no way to go back in time.
 
Many hotels fight this limitation by trying to sell as many rooms as possible. If all the rooms are completely booked, time no longer becomes a factor. But most don’t have the luxury of being at-capacity every single night. That’s why last-minute booking apps are growing in popularity in the industry, where hotels can make the most of each day. These apps specifically target guests who don’t plan far in advance, seeking accommodations from one week to one minute later.
 
There are several different ways your hotel can benefit from using last-minute booking apps in your business strategy.

IoT is Coming, Jon Snow…
Posted: 05/21/2019

Hospitality is prime for the coming advent of the various devices that make up the Internet of Things. Estimates show the industry now represents 17.5 million rooms worldwide and savvy guests are demanding more personalization and an overall improved guest experience along their connected travel journey and belief is that IoT can bring this to reality. 

The forces driving local search rankings are constantly changing. But recent studies suggest that in 2019, four key factors make up the local search algorithm. 
 
The most significant factor is Google My Business (GMB). If you’re not on it, get on it now.

The robotic revolution in the hospitality industry might seem to have taken a step back. This January, the famously quirky Henn-Na Hotel in Japan fired half of its 243 robot staff. The robotic workforce reportedly irritated guests and frequently broke down.



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HSMAI ROC Recap: Grabbing Revenue by the Horns in Houston



More than 600 hospitality professionals gathered in Houston in late June for the Hospitality Sales and Marketing Association International’s (HSMAI) Revenue Optimization Conference (ROC) Americas.

The day officially kicked off with an opening general session, emceed by Dr. Kelly McGuire, SVP of revenue management for MGM Resorts International. Bernard Baumohl, chief global economist for the Economic Outlook Group, shared his geopolitical and economic forecast for the coming year, citing tariffs imposed recently by the United States, increased cyberattacks, and the high likelihood of a recession in the near future as some of the biggest concerns for the travel industry. He urged hoteliers in attendance to be proactive about pricing and to have game plans in place for plausible unfavorable scenarios such as company-wide technical disruptions, and a decreased number of internationaltravelers to the United States.

The opening general session also featured a “Think Like an Owner” panel, in which hotel executives shared their perspective on revenue management.
Another highlight of conference was the two-part interactive session, “No Bull: The Great Debate,” in which presenters debated two timely topics for the hospitality industry: the role of AI and the effectiveness of loyalty programs, respectively. Live polling and candid comments from audience members made for engaging discussions of both subjects.

Throughout the day, a host of breakout sessions delved into AI, loyalty, and other key issues for hotels and revenue optimization, including personalizing paid advertising, leveraging social media, harnessing metrics and analytics, and maximizing non-room revenue opportunities.

For the third year in a row HSMAI’s ROC Americas drew more 600 attendees. In addition to plentiful education and networking opportunities, the conference showcased 42 partner companies serving the revenue management industry, including consultants, technology vendors and companies providing products and services in revenue management, execution, and reporting.

The day ended on a high note with an entertaining game of “Revenue Feud,” inspired by the television gameshow Family Feud.

 
About The Author
Jason Smith

HSMAI


 
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