Tuesday, November 29, 2016

Hospitality News For The Week Of 11/18/16

15-year survey reveals F&B decline in hotels, but potential remains

The hospitality intelligence firm, HotStats, just released the results of a 15-year study of hotel food and beverage departments and their revenue performance across a nearly 45,000 room sample. The research found that UK hotels studied, food and beverage accounted for only 34.3 percent of hotel revenue. In the city of London it was even less at just 22 percent. HotStats attributes the findings to the growing cost of labor, which rose by 11.8 percent during the years studied. Growth in food and beverage revenue has lagged well behind the growth in room revenue during same time period. Full Story Here:

 

Moderate Growth Projected For The U.S. Hotel Industry In Final STR/Tourism Economics U.S. Forecast Of 2016

According to the last projections of 2016 released by STR and Tourism Economics, the U.S. hotel industry should see continued but muted performance growth in 2017. The predictions for the total year 2016 amount to flat occupancy at 65.4 percent, average daily rate up by 3.1 percent to $124.10 and revenue per available room increasing by 3.1 percent to reach $81.18 for the year. 2017 is predicted to bring occupancy levels lower by 0.5 percent to 65.1 percent, but average daily rate and revenue per available should climb by 2.8 percent and 2.3 percent respectively. Full Story Here:

 

Google says US hotel-related searches are up 25% in the US

Google has reported that hotel searches on the search engine rose by 25 percent between July 2015 and July 2016. This report comes as Google is in the midst of updating its Hotel Ads website. The changes enable hotel managers to filter language and pricing, while allowing under some pricing models, to delay payment until after a guest stays with the hotel. Full Story Here:

 

STR: US hotel results for week ending 12 November

Positive performance results were reported in the U.S. hotel industry for the week of 6-12 November 2016, according to data published by STR. Compared to the same time period last year, occupancy was up by 1.6 percent to 65.3 percent. Average daily rate climbed up 3.3 percent, to reach $122.70 for the week. And revenue per available room saw 5.0 percent of growth to end the week at $80.16. Full Story Here:

 

Visit us at aboveproperty.com


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Hotel Point Of Sale Security - Part 1

Over the course of the last few years hospitality has become one the most frequently targeted industries for cybercrime. This is due to a number of factors, including the very nature of hotels being so highly personal. Hotels maintain vast amounts of confidential information from their customers and hackers have uncovered ways to access a number of them. In the majority of hacking instances however, the point-of-sale (POS) system is the target of their attacks.

The consequences of security breaches of hotel customer credit card data go beyond mere embarrassment. The costs to hotels can be astronomical, both directly financial and in terms of reputation damage to the brand. If travelers don’t feel as if their private information is safe, they will simply book their stay somewhere else. Hotel guests should feel confident in the hotel’s data security measures.

The transience of the hospitality industry, with new guests arriving everyday at hotels bearing their fresh personal and credit card data, ensures a steady stream of potential victims for cyber thieves. These criminals utilize malware, software designed to access all the customer’s credit card information through any payment system. This includes not only the numbers and expiration dates, but the verification codes as well. Nevertheless, there are a growing number of solutions available to hoteliers, in order to remain a step ahead of the hackers’ schemes.

 

Chip and Pin POS System

Amazingly, some merchants have not yet implemented Chip and PIN technology, making them the most vulnerable to hacking. Hoteliers must install the most up to date and secure chip-based technology, if they haven’t already, in order to safeguard the credit card information of their guests. Hotel staff must also be fully trained with strict protocol put in place for them to follow, in regards to handling credit card information.

For example, eliminate default passwords and give each staff member a unique log-in. absolutely no shared passwords under any circumstances. Also, ensure the POS system is always fully compliant with the strict PCI standards. The POS system must be isolated from all other in-house networks as well.

 

Monitor Access Services

The remote payment processing service is a point of extreme vulnerability to the spread of malware and often goes completely undetected. Frequently, these services have incorporated weak passwords which can open up the gates to literally thousands of POS machines. Monitoring tools are available to enable hoteliers to detect any malicious actions. Additionally, hotels should implement two-step authentication protocols as well.

In part two of this series we will examine further steps which hoteliers can take to ensure complete security of their POS systems.  

Visit us at aboveproperty.com


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Tuesday, November 22, 2016

Small Data For Hotels - Part 2

Marketing Personalization

Hoteliers are continually striving to more effectively reach their customers with their brand’s marketing messaging. Small Data offers hotels an opportunity to craft customized marketing messages for their customers on a unique basis. Small Data is the information regarding individual guests or small, distinct segments of customers, and readily available to hoteliers in the form of data created whenever they interact with the hotel in any way. In this manner, hotel marketing personalization is a powerful tool for hoteliers to build brand loyalty and garner increased direct bookings.

Small Data furnishes the information necessary in order to create content personalization. This is found in the data that hotels already have on hand and then compiles it to create individualized marketing messages based on past guest information; their current interests and hotel loyalty program information. This data, when combined with the online user data, gives hotels a powerful advantage over the competing online travel agencies and metasearch engines for booking customers directly.

Personalized content appears to website users when the website recognizes a past site visitor, and then tailors the web pages to them. In this way, the website user finds information which is highly relevant for them. This in turn leads to a higher degree of conversions of visitors into directly booking on the hotel’s website.

 

Some examples of marketing content personalization:

  • Recognizing the user’s IP address and adjust the website language for visitors from another part of the globe. Also specific promotions and offers can be tailored to an international audience.
  • Based on data available to the hotel, the website may detect that a website visitor is a business traveler. In which case they would see content specifically geared to that travel demographic. Hotel amenities such as on-property meeting facilities and the free high speed Wi-Fi connection would appear, for example.
  • In the case of the website recognizing a leisure traveler, the content displayed might include stunning visuals of the local surrounding area and the hotel’s place in the context of a destination. Offers accentuating the pleasurable relaxation available to hotel guests through the hotel’s spa and the delightful dining possibilities that await them are examples of content customized for a specific demographic segment. 

Small Data puts a highly personal and interactive face on the gathering of vast amounts of Big Data by hoteliers. The hospitality industry, by its personalized nature, can certainly profit in its effective utilization.  

 

Visit AboveProperty.com


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Monday, November 21, 2016

Last Class A building rising at Kraft Office Center

The groundbreaking ceremony was held on November 17th for the last Class A building to be constructed on the Kraft Office Center property, located just off Pine Ridge Road near I-75. Although the building development was postponed by the Great Recession; the developer, Fred Pezeshkan, believed that demand for a Class A building near I-75 would eventually see the project ultimately completed. The property was purchased by Pezeshkan and his partners in 2005, but were stymied by the complete collapse of the building market in the later portion of the last decade. The building is being completed by Manhattan Construction and is expected to be finished in September 2017.

 

The future tenant of the fourth floor of the new building will be the Naples-based software solution business, Above Property. The company’s expanding operations demand the space afforded by the entire fourth floor of the new Kraft Office Center building. Full Story Here:  

 

Above Property® is a cloud-based, social-enabled, travel software company, with deep knowledge of hotel technologies. Above Property was formed in 2013 to create the new standard for speed, flexibility and stability for hospitality CRS (Central Reservation System) solutions.


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Saturday, November 19, 2016

Hospitality News For The Week Of 11/18/16

15-year survey reveals F&B decline in hotels, but potential remains 

The hospitality intelligence firm, HotStats, just released the results of a 15-year study of hotel food and beverage departments and their revenue performance across a nearly 45,000 room sample. The research found that UK hotels studied, food and beverage accounted for only 34.3 percent of hotel revenue. In the city of London it was even less at just 22 percent. HotStats attributes the findings to the growing cost of labor, which rose by 11.8 percent during the years studied. Growth in food and beverage revenue has lagged well behind the growth in room revenue during same time period. Full Story Here:

 

Moderate Growth Projected For The U.S. Hotel Industry In Final STR/Tourism Economics U.S. Forecast Of 2016

According to the last projections of 2016 released by STR and Tourism Economics, the U.S. hotel industry should see continued but muted performance growth in 2017. The predictions for the total year 2016 amount to flat occupancy at 65.4 percent, average daily rate up by 3.1 percent to $124.10 and revenue per available room increasing by 3.1 percent to reach $81.18 for the year. 2017 is predicted to bring occupancy levels lower by 0.5 percent to 65.1 percent, but average daily rate and revenue per available should climb by 2.8 percent and 2.3 percent respectively. Full Story Here:

 

Google says US hotel-related searches are up 25% in the US

Google has reported that hotel searches on the search engine rose by 25 percent between July 2015 and July 2016. This report comes as Google is in the midst of updating its Hotel Ads website. The changes enable hotel managers to filter language and pricing, while allowing under some pricing models, to delay payment until after a guest stays with the hotel. Full Story Here:

 

STR: US hotel results for week ending 12 November

Positive performance results were reported in the U.S. hotel industry for the week of 6-12 November 2016, according to data published by STR. Compared to the same time period last year, occupancy was up by 1.6 percent to 65.3 percent. Average daily rate climbed up 3.3 percent, to reach $122.70 for the week. And revenue per available room saw 5.0 percent of growth to end the week at $80.16. Full Story Here:

 

 

 


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Thursday, November 17, 2016

Small Data For Hotels - Part 1

There is much hospitality industry buzz about Big Data, and rightfully so. But much less focus and attention on something called Small Data. Small Data can be viewed and understood as the people-oriented details of which Big Data is composed. It comes in actionable amounts which are highly manageable for even one marketer, when compared to the overwhelming quantities of information involved in Big Data. Small Data is very specific in nature as well.

While Big Data involves trends, patterns and how they are associated with large numbers of people, Small Data is linked to unique individuals or distinct segments of people. By using Small Data information regarding an individual guest, hotels can tailor marketing, promotions and services directly to the customer’s point of need. Small Data is readily available to hoteliers; customers create it whenever they interact with a hotel in any manner. Everything before, during and after their hotel stay creates actionable Small Data that can be utilized for both marketing purposes and improving the guest experience.  

 

Guest Personalization

Today’s traveler wants greater control of their hotel guest experience from start to finish and hotels which offer mobile apps enable them to do so. These same mobile apps provide hotels with the Small Data which they need to shape the hotel experience around the customer. Every preference given, service requested, or purchase made on the app by the hotel guest provides invaluable, personalized information to the hotel. Of course such personalized service and convenience comes at a price to the customer, in the form of personal information disclosure. Customers have been balancing the benefits against the risks. Hotel guests don’t mind as long as something is to be gained for them.

The world of today’s traveler has become evermore dependent on social media. The expectation of hotel guests is for continuity with their connected everyday lives when traveling. 21st century consumers have also become accustomed to a certain level of personalized service from brands in order to gain their loyalty. This requires a degree of empathy on the part of hotels. By furnishing a seamless online experience for their guests, hoteliers can better gather useful Small Data details from customers’ online connections with their brand. In this way, the brand can gain understanding and insight into their hotel guests and in doing so, better prepare the hotel to anticipate their wishes in advance upon their next stay.

In part two we will look into how Small Data can more effectively deliver personalized marketing messaging to hotel customers.

Visit AboveProperty.com

 


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Tuesday, November 15, 2016

CRM For Hotels Is Now SRM

Hospitality by its very nature is highly social, much more in fact than many other industries. The traveling public has adopted social media and its associated technology, namely mobile, in an unprecedented way. It would make sense if hotels lead the way for other businesses in harnessing the power of social media marketing and customer relationship management. Unfortunately for hoteliers, this is not the case at all. In fact, the hospitality industry is a bit behind others in this regard.

It’s essential for any successful social media marketing campaign to be properly managed in order to cultivate customer satisfaction and loyalty. The role of traditional customer relationship management has now become real-time and highly social. Such technology can assist hoteliers in carrying out the tasks of online interaction and feedback reactions. The key to building success with any campaign is continued engagement and interaction. The hotel’s reputation must also be protected continuously and bolstered whenever possible. Any online negativity, in any manner of comments or feedback, regarding the hotel must be dealt with swiftly. These all take valuable time and resources to accomplish.

Social media marketing can be extremely time-consuming, and in the case of an independent hotel, may be performed by one person who has much on their plate already. Moreover, social media networks and social behavior are continually evolving, making it difficult to stay ahead of the curve. Hoteliers need a tool to assist in their social media marketing efforts, so they can concentrate on what they do best - Making their guests feel at home.

 

Social Relationship Management

 

All-In-One Social Marketing Solution

An effective social media strategy is a core component in today’s “voice of the customer” world. The Above Property Social Relationship Management module lets you control and monitor your messaging within the Above Property Travel Platform. Dynamically execute marketing campaigns tied to inventory or occupancy controls. Easy-to-use, the Social Relationship Management module integrates several essential online marketing tools.

Operating in a fully distributed cloud environment, the Above Property Social CRM module can integrate with existing systems as well as take advantage of the full suite of complementary modules within the Above Property Travel Platform.

 

SRM KEY FEATURES 

  • Blogs and press releases
  • Social network channels
  • Marketing writing assistant
  • Coupon creation and distribution
  • Web analytics  

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Monday, November 14, 2016

Hospitality News For The Week Of 11/11/16

Election itself not likely to move economic needles

Despite much anxiety and dire predictions to the contrary, STR predicts there will be no lasting negative impacts from the 2016 presidential election. STR has found, in studies of the last seven elections, that presidents inherit the economy of their predecessor. Elections do not, in and of themselves, impact the hospitality industry in any way. Ultimately the industry conditions reflect the policies implemented during each administration. Full Story Here:

 

Close to one billion international tourists in the first nine months of 2016 

The first nine months of 2016 saw a surge in international tourism of 4 percent, compared to the same time period in 2015. 956 million tourists traveled internationally between January and September 2016, an increase of 34 million over the previous year. According to the UNWTO, tourism is extremely sensitive to outside forces and perceptions. Governments must work together with the travel industry to minimize the negative impacts from global threats to the safety and security of travelers. Full Story Here:

 

Tourism On Growth Path Despite Terror

The 24th World Travel Monitor Forum was recently held in Pisa, Italy. Reports from the forum indicate that the worldwide travel industry remains on path of growth, despite challenges from terrorism and political unrest. Outbound travel rose by 3.9 percent during the first 8 months of the year. The predictions for 2017 are extremely positive as well. Worldwide travel is expected to experience a growth level of between 4 to 5 percent next year. Full Story Here:

 

STR: US hotel results for week ending 5 November

The U.S. hospitality industry experienced mixed results during the week of 30 October through 5 November 2016, as compared to the same period last year. According to STR, industry-wide occupancy dropped by 3.5 percent to 64 percent for the week. Average daily rate, however, saw an increase of 1.6 percent by the end of the week. At week’s end revenue per available room fell 1.9 percent to end up at $78.82. Full Story Here:

 

Visit AbovePropert.com


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Friday, November 4, 2016

Hospitality News For The Week Of 11/4/16

Paris Hotels Report A Staggering 15.1% Decline In RevPAR Through The First Three Quarters Of 2016

Hotels in Paris, France are experiencing an astounding drop in revenue per available room across the first three quarters of 2016. France is still reeling from the effects of a series of terrorist attacks this year. Paris hotels have seen a decline in RevPAR of 15.1 percent in 2016 so far. In France as a whole, RevPAR has fallen by 11.0 percent during the same time period. This is according to figures published by STR, which projects performance to recover in the second half of 2017 barring future attacks. Full Story Here:

 

Tech is enhancing travel experiences: CTA survey

A new study released by the Consumer Technology Association (CTA) has found that nearly all travelers who own a smartphone are now using them to enhance their travel experience. The survey points out how travelers utilize their devices for information access, contact their people back home and record their travel experiences through photos and video. Smartphones are most commonly used (64 percent), but digital cameras (61 percent), tablets (27 percent) and laptops (17 percent) are used as well. Full Story Here:

 

Survey Reveals Latest U.S. Hotel Trends

The American Hotel & Lodging Association (AHLA) has published its 2016 Lodging Survey, conducted by STR. Key findings uncovered in the survey indicate how the hospitality industry is moving forward in a number of areas. Hoteliers are continually striving to improve the guest experience and provide a better value to their customers, while becoming a better global neighbor. Hotels are advancing through investments in technology, sustainability and charitable giving for example. Full Story Here:

 

STR: US hotel results for week ending 29 October

During the week of 23-29 October 2016, STR reports the U.S. hotel industry recorded positive performance figures. Compared to the same time period last year, industry-wide occupancy was up by 8.1 percent to 67.2 percent for the week. Average daily rate climbed 4.3 percent to finish at $125.98 by the end of the week. Revenue per available room rose 12.7 percent to attain $84.62 by week’s end. Full Story Here:

 

Visit us at www.aboveproperty.com 


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