Data Snaps - Improve your hotel’s business strategy with technology and intelligent analytics

August 30, 2019 Kristina S. Park

We talk about hotel analytics, hotel data, hotel technology and other technology players in the industry. But, we can’t forget about the role of the hotels and hotel brands themselves. Hotel brands, whether they’re big chains or independent boutique hotels, shape the industry and determine how third-party players will react. Without the hotels, there would be no hotel data or the need for hotel technology.

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This week, there has been a lot going on with the big brands and their technology strategies. Recently, it was announced that Hilton, Accor, IHG and Marriott International have invested $50 million in Groups360, an online marketplace for meetings, according to this article. The technology solution provider grants access to group rooms and space availability, instant booking, and pricing on their platform, which makes meeting and event planning more accessible for users. Four Seasons, on the other hand, has taken an internal approach to their technology by creating an app where guests can custom-build their travel itineraries and curate their stay, as mentioned here. While the two approaches are quite different from one another, the hotel brands only confirm the need for more technology in the hospitality industry. In other exciting hotel news, according to this article, Marriott International has stated that they will be eliminating all small plastic bottles for shampoo, conditioner, and bath gel in their hotel rooms worldwide by December 2020. According to the company, this move will eliminate about 500 million small bottles each year, or 1.7 million pounds of plastic. Another way to reduce waste in hotels is actually through the power of technology. This article shows that by investing in digital temperature sensors with advanced software, hotels can reduce food waste and prevent spoilage and food safety breaches. Not only would the technology help with the issue of food waste, but it would also save hotels more money.

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When investing in technology for your hotel, it’s not just the guests who are benefiting from the advancements. According to this article, hotels must introduce the best technology for their hotel in order to simplify the lives of the hoteliers. By investing in a well-integrated hotel tech stack, hoteliers can improve their operational tasks and in turn, create better experiences for their guests. 

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Want to improve your business performance even more? This article suggests introducing automated business intelligence (BI) solutions to tackle pain points that hotels face when operating their business. According to the article, BI solutions help understand account production and your hotel base, corporate client and group production, create optimal pricing strategies, build accurate forecasts, and connect teams within your hotel.

 

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Business intelligence has become quite the buzzword across all industries with advanced technology. However, BI would not be possible without data and data analytics. Today, it’s nearly impossible for businesses to succeed without some form of business analytics and technology companies are increasingly realizing the importance of analytics. Once a hotel understands the need for business analytics, they can take their data to the next level with intelligent analytics. But what exactly makes hotel analytics intelligent? Read our article to learn about how to make your hotel data analytics intelligent and the benefits your hotel will receive from shifting towards more intelligent analytics tools.


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