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| Technology and Finance Library (Click title to read article)|
Find articles covering Technology and Finance including such topics as the wireless world in hotels, the Internet, financial issues affecting Hotel management and new administration methods. Reviews, analysis and more.
Attrition and Cancellation RevenuePer the Uniform System of Accounts for the Lodging Industry (USALI), the income received from transient and group guests that fail to occupy a room, or cancel a reservation in the prescribed timeframe, and for which payment was guaranteed o... How to Add Value to Your Hotel AssetAt the most basic level, the value of a hotel is based on the property’s net income divided by a capitalization rate, as such, one has two possible levers to adjust as a means of increasing a property’s value: either increase th... How Far Will Automated Housekeeping Really Go?Many people are familiar with the name Marie Kondo, whose best-selling books help people to organise their homes and in regards to cleaning, Kondo has said: 'The objective of cleaning is not just to clean, but to feel happiness living withi... How to Prepare for the Future of ComplianceMany online businesses are feeling as though they’re caught up in a compliance whirlwind and companies invested time, thought and effort into ensuring compliance with the European GDPR legislation, however, rather than being able to t... 5 Technologies that Could Transform HotelsFrom smart mirrors to holodecks, premium hotels are poised to take guests boldly where no guests have gone before: From air conditioning to cable TV, premiums hotels have a history of using new technology to offer guests new experiences and... The Emerging Tech Trends Driving Change in HospitalityHow will technology influence and change the way that hospitality brands interact with guests in the future? How can hospitality providers better understand their guests’ motivations for each trip and cater to them accordingly? How wi... Revenue Is Rising, But Collecting Is More ChallengingAccording to STR, US hotels achieved all-time high levels of occupancy, ADR, and RevPAR in 2018, while a record number of guests are staying at hotels, and revenues are flowing in, the ability to collect these funds is starting to become mo... Ways To Build The Guest Experience Around AutomationWinning the heart of guests has always kept the hoteliers on their toes and now, with automation in the mix, the stakes are even higher! Struggling to keep up with the evolving industry trends? Take a look at how you can incorporate the in... Why the Cloud is the Safest Space for your Hotel DataAs hoteliers shift more and more toward becoming data scientists, the amount of data needed – and available – is growing at exponential rates, so it’s critical that this data is stored somewhere easily accessible in real t... How to Organise Your Website ContentWhen Marie Kondo first published 'The Life-Changing Magic of Tidying Up' in 2011, best practices for website content were almost entirely different: Eight years ago, applying Kondo’s KonMari method to organizing your website would hav... How Tech is Opening New Doors for NairobiFew would deny Silicon Savannah has a great ring to it, but behind the hype, there are some firm foundations on which Nairobi’s growing reputation as a tech city is being built The Threat of Mobile FraudIn 2019, the number of mobile phone users worldwide is forecast to reach more than 4 billion and for 90% of these individuals, online shopping is one of the top ways they use their mobile devices, but what may be lesser known to these consu... Big Data and the Need for a Data StrategyBig data: We’ve all heard and talked about it, big data is a major component of every industry and hospitality is not an exception, knowing how to recognize and utilize big data to your company’s advantage unlocks great amounts ... Possessory Interests in Hotel Real EstateWhat is a Possessory Interest? A possessory interest is created when a private-sector tenant is granted exclusive use of real property (land and/or building) that is owned by a tax-exempt entity, typically a municipality or a state or feder... Is Your Toilet Listening To You? 🚽 😳Let's talk CES (that's the Consumer Electronics Show, you newb, it's where all the cool tech companies unveil their hottest new products, and it happened last week) and it felt like everything was built for Alexa and/or Google Assistant, in... The Impact of Messaging Apps on APAC TravelThe mobile-only world is fast approaching in the travel industry and in terms of mobile booking rates for hotels, Asia is far ahead of the rest of the world, and China is leading the pack with 60% of its online bookings made on a smartphone... The Importance of Hotel Profit and Loss StatementsAs CEO of a hotel management company that has generated over €190 million in the last year, I can tell you how important it is to control every detail of your business’s finances, both on the revenue and cost side How to Consolidate Hotel Technology After an AcquisitionThe hospitality industry is no stranger to mergers & acquisitions: In fact, it seems that every few months we hear about a new big purchase; most recently Hyatt purchased Two Roads Hospitality, and earlier this year, Wyndham bought LaQu...