Category: Hotels Food
Journey to better guest satisfaction: Why digitization is the shortcut you need
As hotels are on the path of improving guest satisfaction, several solutions have come to light. The unique challenges presented by an industry as dynamic and varied as the hotel industry require multiple interventions. In order to maximize productivity and guest satisfaction, hotels need to solve a multitude of problems. But what if there was one solution to all these problems? The journey to a thousand great guest experiences can start with one simple step: digital integration. The technology revolution has given hotels new ways to meet the changing needs of their guests. The pandemic acted as a catalyst for…
What is a Global Distribution System (GDS) and Its Benefits For Your Hotel
A global distribution system (GDS) is a computerized network that is used to facilitate the booking of travel services, such as airline tickets, hotel rooms, car rentals, and other travel-related services. These systems are typically used by travel agents and other travel industry professionals to access a wide range of travel options and make bookings on behalf of their clients. Whether or not a GDS is right for your hotel depends on a number of factors, including the size and location of your hotel, the type of services you offer, and your target market. If you are a small, independently-owned…
Beyond Crypto: Blockchain Technology in Hospitality
Written by: Dominika Duziak Editor’s Note: This blog post will feature podcast episodes from the HospitalityVerse Podcast, a new series that discusses the latest trends in hospitality technology, including discussions on the Metaverse, blockchain, NFTS and more. During my time with the MBA in International Hospitality Management program at the Emirates Academy of Hospitality Management in Dubai, UAE, I decided to focus my academic research on blockchain and hospitality managers’ perceptions of this technology. Blockchain is a distributed ledger that stores records of transactions in blocks connected to each other and secured with cryptography. Originally designed to facilitate financial transactions,…
All the Reasons to Love What You Do
home Finance Hospitality Accounting Professionals: All the Reasons to Love What You Do As the US Thanksgiving holiday approaches, here is a reminder of what our accounting members should be thankful for this year. Written by: Katie Paolino, CHAE When our mind starts to spiral, why is it always a black hole of negativity? Why is it so easy and natural to lament our circumstances and notice everything we don’t enjoy about our work? And what if we could try something else? What if a positive thought spiral was in reach for us? What if we sat and let our…
Your New HFTP Global Board President, 2022-2023
As the producers of the world’s largest, oldest hospitality technology conference (#HITEC), HFTP is privileged to have someone as versed in hospitality technology as its newest leader, Neil Foster, CHTP, MBA. Foster has made a multitude of strategic moves throughout his quarter-century career that have given him the perspective to see the hospitality industry from all different angles. He understands the ways in which technology supports all areas of the business including finance and operations, the value of gaining international experiences in an industry that touches the entire world, and how to navigate the industry as both a vendor and…
Low Development Costs, High ADRs and Incredible Valuations
Written by: Jay Bhakta Glamping has taken the hospitality industry by storm over the last few years with developments occurring overnight. These remote-style stays became especially popular over the course of the Covid pandemic, as they offered the distanced retreats and vacation getaways that many craved after lockdowns. Due to the lack of physical structures required, development is rapid and far less costly. However, with the unique service proposition provided, glamping properties are able to charge high ADRs. And, as these properties are valued based on the income approach, their valuations are derived from their cash flow — resulting in…